Statute
Section 18IC — Corporation Tax Act 2009: The low profit margin exemption
Text of the provision Official document
The low profit margin exemption 18IC 1 Chapter 13 of Part 9A of TIOPA 2010 (controlled foreign companies: the low profit margin exemption) applies for the purposes of section 18G(1)(c) with the following modifications.
2 In section 371MB—
a subsection (2) is to be omitted, and b references to the CFC's accounting profits for an accounting period are to be read as references to the adjusted relevant profits amount determined before any deduction for interest.
Official source: legislation.gov.uk
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