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- Original (As enacted)
This is the original version (as it was originally enacted).
(1)This section applies where—
(a)section 80 or 81 applies in relation to a company for an accounting period,
(b)the actual provision condition is met, and
(c)section 83 (cases where no taxable diverted profits arise) does not apply for that period.
(2)In relation to the material provision in question, the taxable diverted profits that arise to the company in the accounting period are the amount (if any)—
(a)in respect of which the company is chargeable to corporation tax for that period by reason of the application of Part 4 of TIOPA 2010 (transfer pricing) to the results of the material provision,
(b)which, in a case where section 81 applies, is attributable (in accordance with sections 20 to 32 of CTA 2009) to UKPE, and
(c)which is not taken into account in an assessment to corporation tax which is included before the end of the review period in the company’s company tax return for that accounting period.
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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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