Section Sch50-“ 71B — Income Tax Act 2007: Return requirements for refunds: foreign dividends

“ 71B Return requirements for refunds: foreign dividends “ (1) This section applies for the purposes of section RM 21(3) of the Income Tax Act 2007 when a loss balance is used to reduce a company’s net income for an income year in which a foreign dividend is paid. “ (2) The company described in section RM 21(1) of that Act must— “ (a) file a return of income under section 33 for the income year in which the tax loss arose; and “ (b) file a return of income under section 33 for the current income year; and “ (c) apply to the Commissioner for the refund of the FDP. “ (3) The company described as group company B in section RM 21(2) of that Act must— “ (a) file a return of income under section 33 for the income year in which the tax loss arose; and “ (b) notify the Commissioner that payment of some or all of the FDP is satisfied by reducing the tax loss. “ Compare: 2004 No 35 s NH 4(5)(b), (c) ” .