Reduction of relief in cases where losses relieved sideways etc

Part of Finance (No. 2) Bill – in a Public Bill Committee am 9:25 am ar 16 Ionawr 2018.

Danfonwch hysbysiad imi am ddadleuon fel hyn

New clause 13—Review of effectiveness of limit to double taxation relief—

“(1) No later than 31 March 2019, the Chancellor of the Exchequer must review the effects of the limit to double taxation relief made by section 30.

(2) The review under this section must consider—

(a) the effects of the change on annual revenue, and—

(b) the size and type of companies benefiting from the relief and the impact of the changes on them.

(3) The Chancellor of the Exchequer must lay before the House of Commons the report of the review under this section as soon as practicable after its completion.”

This new clause provides for a review of the new limit for double taxation relief available to companies for foreign tax paid on income of a foreign permanent establishment.