Taxes Consolidation Act, 1997
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Tax credit in respect of distributions. [CTA76 s46; FA93 s11(i)] |
730.—Where an overseas life assurance company— | |
(a) receives a distribution from a company resident in the State, and | ||
(b) is not entitled to, or disclaims, by notice in writing to the appropriate inspector (within the meaning of section 950 (1)), relief in respect of the distribution under— | ||
(i) the Convention set out in Schedule 25 as applied for corporation tax, or | ||
(ii) arrangements made under section 826 as applied for corporation tax, | ||
then, the overseas life assurance company shall be deemed to be entitled to such a tax credit in respect of the distribution as it would be entitled to if it were a company resident in the State, and accordingly the income represented by the distribution shall be the aggregate of the distribution and the tax credit. |