Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
International
67 Dual resident companies: controlled foreign companies.
F11
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F12
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3
In Schedule 25 to that Act—
a
paragraphs 2(1)(c) and 4(1)(c) shall be omitted,
b
after paragraph 2(1) there shall be inserted—
1A
A payment of dividend to a company shall not fall within sub-paragraph (1)(d) above unless it is taken into account in computing the company’s income for corporation tax.
c
after paragraph 4(1) there shall be inserted—
1A
A payment to a company shall not be a subsequent dividend within the meaning of sub-paragraph (1)(b) above unless it is taken into account in computing the company’s income for corporation tax.
4
Subsections (1) and (2) above shall apply on and after 20th March 1990 and subsection (3) above shall apply to dividends paid on or after that date.