Schedule 20 - Controlled foreign companies and foreign permanent establishments

Part of Finance Bill – in a Public Bill Committee am 4:45 pm ar 19 Mehefin 2012.

Danfonwch hysbysiad imi am ddadleuon fel hyn

‘Insurance Companies (Reserve) (Tax) Regulations 1996 (S.I. 1996/2991)

42A The Insurance Companies (Reserve) (Tax) Regulations 1996 (S.I. 1996/2991) are amended as follows.

42B (1) Regulation 8A is amended as follows.

(2) In paragraph (1)—

(a) in sub-paragraph (a) for “controlled foreign company” substitute “CFC (within the meaning of Part 9A of the Taxation (International and Other Provisions) Act 2010)”, and

(b) in sub-paragraph (b) for “controlled foreign company” substitute “CFC”.

(3) In paragraph (4)—

(a) for “controlled foreign company’s” substitute “CFC’s”, and

(b) for “the company” substitute “the CFC”.

42C In regulation 8B for “controlled foreign company” substitute “CFC (within the meaning of Part 9A of the Taxation (International and Other Provisions) Act 2010)”.’.

Amendment 114, in schedule 20, page 521, line 26, leave out ‘and 38’ and insert ‘, 38, 38A, 40A, 42B and 42C’.—(Mr Gauke.)