Oct 25, 2024 · WebMay 20, 2024 · Excluded territories: This exemption applies where the CFC is resident in one of the excluded territories, which are specified in regulations. In addition, specified income must not be more than the higher of 10% of profits or £50,000. ... Property income is excluded entirely from the CFC rules. How we can help. We can assist you in ...
UK updates CFC excluded territories exemption
1.—(1) These Regulations may be cited as the Controlled Foreign Companies (Excluded Territories) Regulations 2012 and come into force on 1st January 2013. (2) These Regulations have effect for accounting periods of CFCs beginning on or after 1st January 2013. See more 2.In these Regulations— “TIOPA 2010” means the Taxation (International and Other Provisions) Act 2010; “the Schedule” means the … See more 4.—(1) For the purposes of Chapter 11 of Part 9A of TIOPA 2010, the requirements of section 371KB(1)(b) and (c) of that Act do not have to be met in order for the excluded territories … See more 3.A territory listed in Part 1 of the Schedule is an excluded territory for the purposes of Chapter 11 of Part 9A of TIOPA 2010 (the … See more 5.For the purposes of Chapter 11 of Part 9A of TIOPA 2010, Part 2 of the Schedule specifies a further requirement which must be met in order for the excluded territories exemption to apply … See more WebJun 17, 2024 · This paper undertakes a review of CFC rules around the world as a contribution to the global discussion over the possible expansion of existing anti-base … sport versatile vehicle crossword
International Manual - GOV.UK
WebThe Controlled Foreign Companies (Excluded Territories) Regulations 2012 SI 3024 modify the excluded territories exemption (ETE) in specified cases. WebMar 1, 2012 · Excluded territories exemption. The excluded territories exemption (ETE) (provided in Chapter 11) is intended, broadly, to exempt CFCs resident in a jurisdiction with a headline rate of corporation tax that … WebThere are two types of exemption: •. entity level exemptions—these exclude the CFC from the CFC rules altogether for that accounting period. The relevant exemptions are: . the exempt period exemption, which is explained in this Practice Note. . the excluded territories exemption. . sport valentine cards for boys