No. 21. Income Tax. 1967.


 (ii) The certificate shall be a certificate by
 the Taxing Authority of the place in
 which the principal place of business
 of the shipowner or owner of aircraft
 is situated and shall state-

 (a) that the shipowner or owner of
 aircraft has furnished to the sat-
 isfaction of that Authority an
 account of the whole of his busi-
 ness; and

 (b) the ratio of the gains jr profits
 for the relevant accounting period
 as computed according to the In-
 come Tax Law of that place (after
 deducting interest on any money
 borrowed and employed in acquir-
 ing the gains and profits) to the
 gross earnings of the shipowner's
 fleet or vessel or of the aircraft
 for that period.

 (iii) If the gains or profits of a shipowner
 or owner of aircraft have for the pur-
 pose of assessment in the Colony under
 this Ordinance been computed on any
 basis other than the ratio of the gains
 or profits shown by a certificate.as afore-
 said and an assessment has been made
 accordingly, the shipowner or owner
 of aircraft shall, upon production of
 such a certificate at any time within
 six years from the end of the year of
 assessment be entitled to such adjust-
 ment as may be necessary to give effect
 to the said certificate and to have any
 tax paid in excess refunded.

 (iv) In this paragraph the expression "ship-
 owner or owner of aircraft" means an
 owner or charterer of ships or aircraft
 whose principal place of business is
 situated outside the Colony, but in a
 part of the Commonwealth.