Section 177

(1) The tax payable on the profits of a priority product or service in Economic
any year of assessment during the priority period of a company, computed in development
tax credit
accordance with the provisions of chapter two of this Act, shall constitute
economic development tax credit for the company.
(2) Subject to section 57 of this Act, the economic development tax credit
may be utilised to offset the tax payable of any year of assessment during the
priority period, except the additional tax payable under that section
(3) A company having unutilised tax credit may utilise it within five as-
sessment years after the end of the priority period, after which any unutilised
tax credit shall lapse.