1. Expenses incurred wholly and exclusively for the purposes of the Taxable Person's Business that are not capital in nature shall be deductible in the Tax Period in which they were incurred, subject to the provisions of this Decree-Law. 2. For the purposes of calculating the Taxable Income for a Tax Period, no deduction is allowed for the following: a. Expenses not incurred for the purposes of the Taxable Person's Business. b. Expenses incurred in deriving Exempt Income. c. Losses not connected with or arising out of the Taxable Person's Business. d. Such other expenses as may be specified in a resolution issued by the Cabinet at the suggestion of the Minister. 3. If expenses are incurred for more than one purpose, a deduction shall be allowed for: a. Any identifiable part or proportion of the expenditure incurred wholly and exclusively for the purposes of deriving Taxable Income. b. An appropriate percentage of any unidentifiable part or percentage of the expenses incurred for the purposes of deriving Taxable Income that are determined on a fair and reasonable basis, having regard to the relevant facts and circumstances of the Taxable Person's Business.
Interpretation and application must be checked against the official text and current version.