Income Tax (Water Extraction Industry Incentive) Regulations 2023 (L.N. No. 62 of 2023).

These Regulations, made under the Income Tax Act 2015, seek to encourage investment in the water extraction and bottling business (business activities relating to the bottling of extracted water from its natural state) by the provision of financial inducements in the form of an exemption from income tax under the Act, to provide certainty about the taxation of activities that are subject to the Water Resource Tax, and to coordinate the imposition of the Water Resource Tax and the Act on the same items of income.