These Draft Taxation Circulars were first made available for public comment between 18 April and 27 May 2011 and consequently from 9 November to 23 November 2011. Following feedback received during these periods and subsequent discussions with a number of external stakeholders, some changes have been incorporated into the Circulars.

The Internal Revenue Commission is now proud to announce the official release of the first two Taxation Circulars and would like to thank all those who have made comments and forwarded advice in regards to this issue, your participation is most valued.