Finance Act, 1950
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PART IV. Corporation Profits Tax. | ||
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Continuance of certain exemptions from corporation profits tax. |
11.—(1) The exemptions from corporation profits tax specified in subsection (1) of section 33 of the Finance Act, 1929 (No. 32 of 1929), as amended by section 30 of the Finance Act, 1931 (No. 31 of 1931), paragraph (b) of subsection (1) of section 47 of the Finance Act, 1932 (No. 20 of 1932), and subsection (2) of this section shall be given in respect of the period beginning on the 1st day of January, 1950, and ending on the 31st day of December, 1952. | |
(2) Subsection (1) of section 33 of the Finance Act, 1929 , as amended by section 30 of the Finance Act, 1931 , and paragraph (b) of subsection (1) of section 47 of the Finance Act, 1932 , is hereby further amended by the insertion at the end of that subsection of the following word and paragraph:— | ||
“or | ||
(f) in the case of a company which carries on a railway undertaking, to any profits of that company.” |