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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 18 December 2023 - onwards
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835S. Creditable tax

(1) In this section, 'relevant tax' means a tax chargeable and payable under the laws of a territory, other than the State, which corresponds to corporation tax.

(2) For the purposes of this Part, the creditable tax for an accounting period shall be the aggregate of -

(a) the amount of foreign tax paid or borne in respect of the chargeable income of the controlled foreign company for that accounting period,

(b) the amount of relevant tax paid on a foreign company charge in respect of the chargeable income of the controlled foreign company for that accounting period, and

(c) the amount of foreign qualified domestic top-up tax payable or borne by the controlled foreign company for that accounting period.

(3) In subsection (2) -

(a) references to an amount paid, payable or borne do not include so much of any such amount as has been or falls to be repaid to the controlled foreign company or any other person on the making of a claim or otherwise, and

(b) references to an amount of foreign q

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