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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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3 provisions
Title and introductory text
2014 No. 3237
Corporation Tax
The Taxation (International and Other Provisions) Act 2010 (Amendment to Section 371RE) (Controlled Foreign Companies) Regulations 2014
Made
8th December 2014
Laid before the House of Commons
9th December 2014
Coming into force
31st December 2014
The Treasury, in exercise of the powers conferred by sections 371RF(1)(b) and (2) of the Taxation (International and Other Provisions) Act 2010, make the following Regulations:
Propose a change1 Citation, commencement and effect
(1) These Regulations may be cited as the Taxation (International and Other Provisions) Act 2010 (Amendment to Section 371RE) (Controlled Foreign Companies) Regulations 2014.
(2) These Regulations come into force on 31st December 2014 and have effect for accounting periods beginning on or after 1st January 2015.
Propose a change2 Amendment of the Taxation (International and Other Provisions) Act 2010
In section 371RE of the Taxation (International and Other Provisions) Act 2010 (control determined by reference to accounting standards)—
(a) in subsection (1), omit “undertaking”,
(b) in subsection (4), for “subsidiary undertakings” substitute “subsidiaries”,
(c) in subsection (5)—
(i) for “Parent undertaking” substitute “Parent”,
(ii) for “subsidiary undertaking” substitute “subsidiary”, and
(iii) for “Financial Reporting Standard 2 issued in July 1992 by the Accounting Standards Board” substitute “Financial Reporting Standard 102 issued in March 2013 by the Financial Reporting Council”, and
(d) in subsection (6), for “Financial Reporting Standard 2” substitute “Financial Reporting Standard 102”.
Propose a change