141 General exclusion of dividends
Finance (No 2) Act 2023 (2023 c 30) | Legislation

141  General exclusion of dividends

(1)     The underlying profits of a member of a multinational group are to be adjusted so as to exclude any excluded dividends received or accrued by that member.

(2)     “Excluded dividends” means—

(a)     a dividend or other distribution arising as a result of a qualifying interest in a flow-through entity (see section 168), or

(b)     any other dividend or other distribution arising as a result of a qualifying interest in an entity, other than a dividend or other distribution falling within subsection (3).

(3)     The following fall within this subsection—

(a)     a dividend or other distribution arising as a result

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