[183A Alternative to section 183 where carry forward of credits not permitted]
Finance (No 2) Act 2023 (2023 c 30) | Legislation

[183A  Alternative to section 183 where carry forward of credits not permitted]

[(1)     A special foreign tax asset of a member of a multinational group is to be used to increase its covered tax balance in accordance with this section.

(2)     Subsection (3) applies where—

(a)     the territory in which a member of a multinational group is located requires that domestic losses are offset against relevant foreign income before foreign tax credits can be applied against tax on foreign income,

(b)     the territory limits

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Repudiation

RepudiationThis Practice Note concerns repudiation and sets out what a repudiatory breach of contract means. It explains how a repudiatory breach goes to the core of the contract and the options or remedies available to an innocent party as a result of the other party’s repudiation, which include

LEXISNEXIS

The supremacy of EU law

The supremacy of EU lawIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

LEXISNEXIS

Liquidated damages in construction contracts

Liquidated damages in construction contractsThis Practice Note explains what liquidated and ascertained damages (LADs/LDs) are and their purpose in a building contract. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of

LEXISNEXIS

Nuisance and the rule in Rylands v Fletcher—common law liability for pollution

Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not