Part 3Multinational top-up tax

Chapter 5Covered tax balance

Dealing with deferred tax assets etc

188Further provision about elections under section 187

1

Paragraph 1 of Schedule 15 (long term elections) applies to an election under section 187.

2

But that paragraph has effect for the purposes of such an election as if—

a

sub-paragraph (4) were omitted (so that there is no restriction on revoking the election), and

b

sub-paragraph (5) were omitted (as an election under this section cannot be made again once revoked).