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19 1973


Chapter III

Corporation Profits Tax

Continuance of certain exemptions from corporation profits tax.

36. —The exemptions from corporation profits tax specified in section 33 (1) of the Finance Act, 1929 , shall be given in respect of the period beginning on the 1st day of January, 1973, and ending on the 31st day of December, 1973.

Corporation profits tax on certain dividends.

37. —Where profits chargeable to corporation profits tax under section 52 of the Finance Act, 1920, include a dividend, within the meaning of Article 1 of the Agreement set forth in the Second Schedule to this Act, being a dividend paid on or after the 6th day of April, 1973, and not later than the 5th day of April, 1975, the profits so chargeable shall include the amount of any tax credit appropriate to the dividend for the payment of which provision is made in the said Article I.

Confirmation of protocol on double taxation.

38. —The protocol, set forth in the Fourth Schedule to this Act, signed on the 2nd day of May, 1973, between the Government and the United Kingdom Government amending the agreement set forth in Part I of the Fifth Schedule to the Finance Act, 1949 , is hereby confirmed, and, subject to confirmation by the United Kingdom Parliament, shall have effect accordingly.