Article 92

The amount to be deducted as depreciation in respect of a pool for the accounting period shall be calculated by applying the percentages specified in Article 90 of this Law on the depreciation base of that pool.

For the purpose of this Section, for any accounting period, the depreciation base in the case of any pool shall be determined to be the excess of the amount resulting from applying Clause 1 of this Article after deducting the amount resulting from applying Clause 2 of this Article as follows:

1. The depreciation base of that pool for the accounting period immediately preceding that accounting period after deducting the depreciation allowed for this pool for the accounting period immediately preceding that accounting period. This depreciation base shall be increased by the total capital expenditures incurred in acquiring the machinery, plant or other assets falling under the same pool during that accounting period.

2. The disposal value of all capital assets falling in that pool that were disposed of during that accounting period.

For the purposes of determination of the depreciation base for the accounting period relevant to the first tax year to which this Law applies, the costs of the assets in the pool at the beginning of that accounting period after deducting the amounts of depreciation allowed for the assets under the First Schedule attached to the Company Income Tax Law, during the tax years prior to that first tax year, shall be deemed as capital expenditure incurred on their acquisition during that accounting period.