Part 3 - Chargeability to Tax
Chapter 3 - Depreciation of Capital Assets
Section 7 - Balancing Allowance or Balancing Charge in Case of Disposal of Buildings, Ships, Aircrafts, and Intangible Assets
Article 109
[GTL Notes: Non Pool Assets - Definition of Net Value]
For the purpose of this Section, net value for any accounting period of a capital asset, which does not fall within any of the pools of assets provided for in Article 90 of this Law, and was used for the business purposes, means the amount of capital expenditure incurred by the taxpayer that carries on the business in acquiring the asset, minus the total amount of depreciation allowed under the provisions of this Chapter or the First Schedule attached to the Law of Income Tax on Companies on that capital asset in the accounting periods preceding the date on which this Law takes effect.