OrbitaxBudget for 2009-10 – Finance Act 2009 receives Royal Assent: exemption for distributions
|Approved Changes|United Kingdom
The Finance Act 2009 received Royal Assent on 21 July 2009.
The Act introduced an exemption for distributions received by medium and large-sized companies, irrespective of the source (i.e. whether domestic or foreign). Distributions received by small companies may also qualify. The exemption takes effect for distributions made on or after 1 July 2009.
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