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Finance Act 2009

Background Note

10.The UK believes it is important for business operating internationally that relief for double taxation should be available. But where credit is claimed for foreign tax and a payment is made by a tax authority either to that person or to a connected person by reference to that tax then relief should be restricted to the net amount.

11.This section will therefore limit the relief given to the amount of the foreign tax paid minus the payment made by a tax authority.

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Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

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