No. 21. Income Tax. 1967.


 (2) Where the amount of any relief or credit given
under this Ordinance is rendered excessive or insufficient by
reason of any adjustment of the amount of any tax payable
either in the Colony or elsewhere, nothing in this Ordinance
limiting the time for the making of assessments or claims for
relief shall apply to any assessment or claim to which the
adjustment gives rise, being an assessment or claim made not
later than six years from the time when all such assessments,
adjustments and other determinations have been made, whether
in the Colony or elsewhere, as are material in determining
whether any, and if so what, credit falls to be given.

 94. (1) Where the tax paid or payable by a company Adjustment of
is affected by double taxation relief the amount to be set off tax deducted
 from dividends
under section 39 or to be repaid under section 83 in respect and set-off.
of the tax deductible from any dividend paid by the company
shall be reduced as follows:-
 (a) if no tax is chargeable on the recipient in respect of
 the dividend the reduction shall be an amount equal
 to tax on the gross dividend at the rate of double
 taxation relief applicable thereto;
 (b) if the rate of tax chargeable on the recipient Jin
 respect of the dividend is less than the rate of double
 taxation relief applicable to the dividend, the reduc-
 tion shall be an amount equal to tax on the gross
 dividend at the difference between those two rates.
 (2) For the purposes of this section-
 (a) if the income of the person chargeable includes one
 dividend such as is mentioned in the preceding sub-
 section, that dividend shall be deemed to be the
 highest part of his income;
 (b) if his income includes more than one such dividend,
 a dividend shall be deemed to be a higher part of his
 income than another dividend if the nett local rate
 applicable to the former dividend is lower than that
 applicable to the latter dividend;
 (c) where the tax is chargeable at different rates in
 respect of different parts of any such dividend, or
 where tax is chargeable in respect of some part of
 any such dividend and is not chargeable in respect of
 some other part thereof, each part shall be deemed
 to be a separate dividend.