Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 17: Manufactured payments and repos

Chapter 3: Manufactured overseas dividends
Section 795: Exemption of manufactured overseas dividends

2389.This section provides that a MOD is exempt from corporation tax to the extent that the overseas dividend of which it is representative is (or would be) so exempt. It is based on paragraph 4 of Schedule 23A to ICTA.