216 Election where assets and liabilities adjusted to fair value for tax purposes
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Other adjustments

216  Election where assets and liabilities adjusted to fair value for tax purposes

(1)     This section applies to a member of a multinational group if the filing member has made an election under this section in respect of a relevant tax adjustment made in an accounting period (“the adjustment period”) in relation to that member.

(2)     A “relevant tax adjustment” is an adjustment to the value of assets or liabilities of a member of a multinational group for tax purposes so that they reflect fair value that is required or permitted, under the law of the territory the member is located in, as a result of the occurrence of an event.

(3)     But

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