132 Effective tax rate
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Chapter 3
Effective Tax Rate of Members of a Multinational Group in a Territory

132  Effective tax rate

(1)     The effective tax rate of the standard members of a multinational group in a territory for an accounting period is determined as follows—

Step 1
Determine, in accordance with Chapter 4, the adjusted profits for that period of each standard member of that group in that territory.

Step 2
Subtract the sum of the losses of those members of the group that made a loss in that period from the sum of the profits of

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