Section 29, The Finance Act, 2013

Section 168 of the Income Tax Act, 2000 is amended byinsertion of the following new subsection immediately after subsection (2)- “(3) A ruling issued under subsection (1) may– (a) in addition to income tax, deal with any other type of tax or revenue collectible by the National Revenue Authority. (b) apply to multiple transactions, whether concluded in the same year or proposed to be concluded over a number of years ; and (c) take the form of an agreement with the taxpayer as to the appropriate pricing of the arrangement according to the arm’s length standard under section 95.”