SCHEDULES
SCHEDULE 4Supplemental taxation provisions for exempt activities
Accounting periods of companies carrying on exempt activities
I12
1
An accounting period of the NDA or of an NDA company ends (if it would not otherwise do so)—
a
where it begins to carry on exempt activities, immediately before it begins to carry them on; and
b
where it ceases to carry on such activities, immediately after it so ceases.
2
An accounting period of a company which—
a
becomes an NDA company, and
b
is carrying on exempt activities immediately after becoming such a company,
ends (if it would not otherwise do so) when it becomes an NDA company.
3
An accounting period of a company which—
a
ceases to be an NDA company, and
b
is carrying on exempt activities immediately before ceasing to be such a company,
ends (if it would not otherwise do so) when it ceases to be an NDA company.