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Chapter 4
Corporation Tax
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Amendment of section 77 of Principal Act (miscellaneous special rules for computation of income)
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32. (1) Section 77 of the Principal Act is amended—
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(a) in subsection (6A)(b) by substituting “so much of the relevant foreign tax in relation to the relevant interest as does not exceed that amount of the income referable to the relevant interest” for “the relevant foreign tax in relation to the relevant interest”, and
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(b) in subsection (6B)(b) by substituting “so much of the relevant foreign tax in relation to the relevant royalties as does not exceed that amount of the income referable to the relevant royalties” for “the relevant foreign tax in relation to the relevant royalties”.
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(2) This section shall apply as respects accounting periods beginning on or after 1 January 2014.
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