89 Controlled foreign companies: territorial exclusions from s 748 exemptions
Finance Act 2002 (2002 c 23) | Legislation

89  Controlled foreign companies: territorial exclusions from s 748 exemptions

(1)     In section 748 of the Taxes Act 1988 (controlled foreign companies: cases where no apportionment falls to be made under section 747(3)) after subsection (5) insert—

“(6)     This section is subject to section 748A.”.

(2)     After section 748 of the Taxes Act 1988 insert—

“748

Territorial exclusions from exemption under section 748

(1)     Nothing in section 748 prevents an apportionment under section 747(3) falling to be made as regards an accounting period of a controlled

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