(1) Except where otherwise provided by the Corporation Tax Acts, corporation tax shall be assessed and charged for any accounting period of a company on the full amount of the profits arising in that period (whether or not received in or remitted to the State) without any deduction other than one authorised by the Corporation Tax Acts.
(2) An accounting period of a company shall begin for the purposes of corporation tax whenever -
(a) the company, not then being within the charge to corporation tax, comes within it whether by the coming into force of any provision of the Corporation Tax Acts, or by the company becoming resident in the State or acquiring a source of income, or otherwise, or
(b) an accounting period of the company ends without the company then ceasing to be within the charge to corporation tax.
(3) An accounting period of a company shall end for the purposes of corporation tax on the first occurrence of any of the following -
(a) the expiration of 12 months from the begi
…