Finance Act, 1995
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Amendment of section 43 (overseas life assurance companies: investment income) of Corporation Tax Act, 1976. |
64.— Section 43 of the Corporation Tax Act, 1976 , is hereby amended, as respects accounting periods beginning on or after the 1st day of January, 1995, by the insertion after subsection (2) of the following subsection: | |
“(2A) Where an overseas life assurance company is entitled to an amount (hereafter in this subsection referred to as ‘the said amount’), being an amount which corresponds to a tax credit, by virtue of having received a distribution from a company which is not resident in the State, the distribution shall be treated, for the purposes of this section, as representing income equal to the aggregate of the amount or value of that distribution and the said amount.”. |