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Amendment of Part 35B of Principal Act (controlled foreign companies)
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20. (1) The Principal Act is amended by inserting the following section after section 835Y:
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“Non-cooperative jurisdictions: modified application of sections 835T, 835U and 835V
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835YA. (1) In this section, ‘listed territory’ means a territory included in Annex 1 of the Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes28
, as replaced by the EU list of non-cooperative jurisdictions for tax purposes - Report by the Code of Conduct Group (business taxation) suggesting amendments to the Annexes to the Council conclusions of 18 February 202029
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(2) Where, in an accounting period of a controlled foreign company, the territory in which the controlled foreign company is resident is a listed territory, sections 835T, 835U and 835V shall not apply in respect of that accounting period.”.
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(2) Subsection (1) shall apply in respect of an accounting period beginning on or after 1 January 2021.
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28 OJ No. C64, 27.2.2020, p.8
29 OJ No. C331, 7.10.2020, p.3 |
