Related Commentary  

88(1)  If a person carrying on a trade–

(a)pays any sum to an Association in the case of which exemption may be claimed under section 508 of ICTA and which has as its object the undertaking of research and development which may lead to or facilitate an extension of the class of trade to which the trade carried on by the person belongs, or

(b)pays any sum to be used for scientific research related to that class of trade to an approved university, college research institute or other similar institution,

a deduction is allowed for the sum in calculating the profits of the trade.

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