SCHEDULES
SCHEDULE 25F1Cases where section 747(3) does not apply
PART II EXEMPT ACTIVITIES
7
1
For the purposes of paragraph 6(1)(a) above, a “business establishment”, in relation to a controlled foreign company, means premises—
a
which are, or are intended to be, occupied and used with a reasonable degree of permanence; and
b
from which the company’s business in the territory in which it is resident is wholly or mainly carried on.
2
For the purposes of sub-paragraph (1) above the following shall be regarded as premises—
a
an office, shop, factory or other building or part of a building; or
b
a mine, an oil or gas well, a quarry or any other place of extraction of natural resources; or
c
a building site or the site of a construction or installation project;
but such a site as is referred to in paragraph (c) above shall not be regarded as premises unless the building work or the project, as the case may be, has a duration of at least twelve months.
Sch. 25 heading substituted (with effect in accordance with Sch. 17 para. 37 of the amending Act) by Finance Act 1998 (c. 36), Sch. 17 para. 25; S.I. 1998/3173, art. 2