Section HA 40 — Income Tax Act 2007: Liability for qualifying company election tax

HA 40 Liability for qualifying company election tax Payment of tax (1) A company that becomes a qualifying company must pay a qualifying company election tax in relation to the change in status, of an amount calculated under section HA 41 . The date for payment is set out in section HA 42 . Payment on amalgamation (2) If a company that is not a qualifying company amalgamates with a qualifying company and ends its existence on the amalgamation, the amalgamated company must pay a qualifying company election tax under subsection (1). Defined in this Act: amalgamated company , amalgamation , amount , company , pay , qualifying company , qualifying company election tax , Compare: 2004 No 35 s HG 11(1), (1A)