195 Substance based income exclusion
Finance (No 2) Act 2023 (2023 c 30) | Legislation

195  Substance based income exclusion

(1)     The substance based income exclusion for a period for a territory is calculated by taking the following steps—

Step 1
Determine the payroll carve-out amount for that period for each standard member of the group in that territory.

Step 2
Determine the tangible asset carve-out amount for that period

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