[371DB The steps]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[371DB  The steps]

[(1)     Here are the steps referred to in section 371DA(1).

The steps are to be taken in accordance with the principles set out in the OECD Report (so far as relevant).

Step 1

Identify the assets which the CFC has or has had, and the risks which the CFC bears or has borne, and from which amounts included in the CFC's assumed total profits have arisen.

The identified assets and risks are called “the relevant assets and risks”

Step 2

Exclude from the relevant assets and risks any asset or risk to which subsection (2) applies (subject to subsections (3) and (4)).

Step 3

Identify the SPFs carried out by the CFC group which are relevant to—

(a)     the economic

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