UK government publishes additional draft CFC legislation

European Tax Newsalert

On February 29, 2012, the UK government published an update and draft legislation as part of UK controlled foreign corporation ("CFC") reform. The documents provide additional proposals to simplify the gateway test and extend the application of the finance company exemption. These proposals are in addition to the draft legislation published on December 6, 2011 and January 31, 2012.



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