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Controlled foreign companies – excluded banking business profits: regulations published

|Approved Changes|United Kingdom
United Kingdom

The Controlled Foreign Companies (Excluded Banking Business Profits) Regulations 2012, SI 2012/3041 have been published. The Regulations were previously published in draft form. The CFC regime is aimed, inter alia, at banks that are excessively capitalized from the United Kingdom. SI 2012/3041 aims at reducing the compliance burden for banking CFCs that are not excessively capitaliz…

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