There are currently no known outstanding effects for the Finance Act 2012, Paragraph 39.
39(1)Section 938M (group mismatch schemes: controlled foreign companies) is amended as follows.U.K.
(2)In subsection (1) for the words from the beginning to “company” substitute “ Section 371SL(1) of TIOPA 2010 (assumption that a CFC ”.
(3)In subsection (2)—
(a)for “chargeable profits” substitute “ assumed taxable total profits ”, and
(b)for “Chapter 4 of Part 17 of ICTA” substitute “ Part 9A of TIOPA 2010 ”.
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