Finance Act, 1998

Amendment of section 449 (credit for foreign tax not otherwise credited) of Principal Act.

59.Section 449 of the Principal Act is hereby amended, in subsection (1), in the definition of “relevant foreign tax”—

(a) in paragraph (c), by the deletion of “and”,

(b) in paragraph (d), by the substitution for “Schedule 24;” of “Schedule 24, and”, and

(c) by the addition, after paragraph (d), of the following paragraph:

“(e) which is not treated under Schedule 24 as reducing the amount of any income;”.