INTM226000 - Controlled Foreign Companies: Entity Exemptions: Chapter 14 - The Tax Exemption: contents

The purpose of this entity level exemption is to easily exclude a CFC from having to apply the CFC rules to its profits when it pays a normal to high level of tax in its territory of residence.

Any CFC that satisfies the tax exemption, does not need to be included in a chargeable company’s corporation tax return.

1. INTM226050

   Introduction
2. INTM226100

   The Basic Rule
3. INTM226150

   The Local Tax Amount
4. INTM226200

   Designer Tax Rate Provisions
5. INTM226250

   Corresponding UK Tax
6. INTM226300

   Example 1
7. INTM226350

   Example 2
8. INTM226400

   Example 3