Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 18 December 2023 - onwards
    Version 1 of 1    

111AAD. Determining top-up amounts of qualifying entity.

(1) Subject to subsections (2) to (6), Chapters 3 to 8 shall apply for the purposes of determining the domestic top-up tax of a qualifying entity (in this section referred to as 'domestic purposes'), as those Chapters apply for the purpose of determining the top-up tax of a constituent entity for the purposes of this Part.

(2) For the purposes of subsection (1), this Part has effect for domestic purposes as if -

(a) references to a constituent entity were to a qualifying entity,

(b) the formula in section 111AD(3) took no account of qualified domestic top-up tax payable,

(c) sections 111T(1)(b) and 111AS were omitted,

(d) references to financial accounting net income or loss for the fiscal year, where it is determined in accordance with a local accounting standard pursuant to paragraph (e), were to the financial accounting net income or loss determined for a constituent entity, joint venture or joint venture affiliate, as the case may be, in preparing financial statements in accordance

Comparing proposed amendment...