Statute for Encouragement of Private Participation in Transportation Infrastructure Projects Article 33

Where the registered stocks issued by a private entity encouraged under this Statute upon its incorporation or expansion are held by any individual or profit-seeking enterprise who/which is the original subscriber of such registered stocks for a period over two(2) years, such individual or profit-seeking enterprise may credit up to 20% of the price for acquiring such stocks against the consolidated income tax or business income tax payable by the investor for the then current year. In case the amount of tax payable is less than the amount of creditable expenditures, the balance of such creditable amount, may be credited against the payable income tax in the four(4) ensuing years.The total amount of investment credit against payable income tax in each year referred to in the preceding Paragraph shall be limited to the amount not exceeding 50% of the amount of the consolidated income tax or the business income tax payable for the then current year by the individual or profit-seeking enterprise; provided, however, that this limitation shall not apply to the creditable amount in the last year of said four year period.