1. The Research and Development Tax Credit shall be utilized to satisfy Corporate Tax and/or Top-up Tax due from the Qualifying Entity for the concerned Tax Period or Fiscal Year in respect of which a duly completed application meeting the prescribed conditions has been submitted to the Authority, before any portion of such credit is carried forward to a subsequent Tax Period or Fiscal year or transferred in accordance with the provision of Article (7) of this Resolution. 2. Research and Development Tax Credit arising from previous Tax Periods or Fiscal Years shall be utilized before any Research and Development Tax Credit arising from subsequent Tax Periods or Fiscal Years. 3. The Qualifying Entity may carry forward any Research and Development Tax Credit that is not utilized to subsequent Tax Period or Fiscal Year. 4. The Minister may issue a resolution specifying additional conditions for the carryforward and utilization of the Research and Development Tax Credit, as well as any other necessary conditions and procedures for the purpose of implementing the provisions of this Article.
Interpretation and application must be checked against the official text and current version.