Section OC 5 — Income Tax Act 2007: When company emigrates

OC 5 When company emigrates Status ends (1) If an emigrating company is an FDPA company immediately before the time of emigration, its status as an FDPA company ends at the time of emigration. Further payments and returns (2) The company referred to in subsection (1) must— (a) file an annual FDPA return for the tax year in which the company becomes non-resident; and (b) pays any further income tax payable under sections OC 30 to OC 34 for the tax year. Defined in this Act: annual FDPA return , emigrating company , FDPA company , further FDP , non-resident , pay , tax year , time of emigration , Compare: 2004 No 35 s MG 2(6), (7) Section OC 5(2)(b): substituted (with effect on 30 June 2009), on 6 October 2009, by section 404(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).