75B. Eligibility for employee retention tax credit
A business or company is eligible to receive a non-refundable employee retention tax credit, if by the 31st day of March, 2020, the business or company—
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(a) employed less than 200 persons and retained 50% or more of the employees during the concession period;
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(b) employed 200 or more persons and retained 30% or more of its employees during the concession period;
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(c) has no arrears of assessed Pay-As-You-Earn;
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(d) has arrears, and there exists an agreed arrangement in relation to the payment of the arrears; and
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(e) complied with the requirements of other tax laws administered by the Inland Revenue Department.
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(Inserted by Act 8 of 2021)