SCHEDULES

SCHEDULE 16Controlled foreign companies

Part 2Amendment of exempt activities exemption

Interpretation

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The following expressions have the same meaning for the purposes of this Part as they have for the purposes of Chapter 4 of Part 17 of ICTA—

  • “accounting period”;

  • “chargeable profits”;

  • “control”;

  • “controlled foreign company”;

  • “creditable tax”;

  • “gross income”.