CFM95490 - Interest restriction: groups, periods and financial statements: financial statements: whether financial statements are drawn up

TIOPA10/487

A number of the rules for determining the correct period of account and financial statements depend of whether the ultimate parent draws up financial statements for the group or for itself. Whether financial statements have been drawn up for a period will be a question of fact.

Financial statements ignored

However, financial statements drawn up for the group will be ignored in following two situations.

• They are for a period which is more than 18 months, or
• They are drawn up more than 30 months after the beginning of the period