SCHEDULES
SCHEDULE 36 Controlled foreign companies
1
(1)
Section 747A of the Taxes Act 1988 (special rule for computing chargeable profits: currency) shall be amended as follows.
(2)
Subsection (7) (first relevant accounting period of a trading company where subsection (6) does not apply) shall be omitted.
(3)
In subsection (8) (first relevant accounting period of a company which is not a trading company)—
(a)
the words “the company is not a trading company and” shall be omitted;
F1(b)
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F1(c)
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