[71B Reduction of foreign tax paid on profits of overseas PE]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[71B  Reduction of foreign tax paid on profits of overseas PE]

[(1)     For the purposes of allowing credit relief under this Part, the amount of foreign tax paid in respect of the company's qualifying income from the PE in the accounting period is reduced (but not below nil) by the relevant amount for that period.

(2)     In calculating any amount chargeable to corporation tax, any deduction for an amount of foreign tax paid in respect of the company's qualifying income from the PE in the accounting period is reduced (but

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