The Controlled Foreign Companies (Excluded Countries) Regulations 1998 No. 3081

SCHEDULE 2 ACCOUNTING PERIODS BEGINNING ON OR AFTER 9TH JULY 1998

PART II SPECIFIED TERRITORIES WITH QUALIFICATIONS

2.  Companies having profits exempt from company income tax by virtue of Article 25 of Law 25/1975 or by virtue of Law 89/1967 (profits from shipping and associated activities).