Finance Act, 1988
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Tax credits in respect of distributions. |
31.—(1) The provisions of the Corporation Tax Act, 1976 , specified in paragraph 1 of Part I of the Second Schedule shall have effect— | |
(a) in relation to distributions made in the year 1988-89, as if the standard rate for that year of assessment were 32 per cent., and | ||
(b) in relation to distributions made on or after the 6th day of April, 1989, as if the standard rate for the year 1989-90 and subsequent years of assessment were 28 per cent. | ||
(2) Part I of the Second Schedule shall have effect for the purpose of supplementing subsection (1). |