166 Election in relation to hedging currency risk in ownership interests
Finance (No 2) Act 2023 (2023 c 30) | Legislation

166  Election in relation to hedging currency risk in ownership interests

(1)     The filing member of a multinational group may elect that the underlying profits of a member of the group specified in the election are to be adjusted to exclude qualifying gains or losses arising from fluctuations in exchange rates.

(2)     A gain or loss arising from fluctuations in exchange rates is “qualifying”

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