Income and Corporation Tax Act definition

Income and Corporation Tax Act means the Income and Corporation Tax Act (Cap. 17.01);
Sample 1Sample 2Sample 3
Income and Corporation Tax Act means the Income and Corporation Tax Act;
Sample 1

Examples of Income and Corporation Tax Act in a sentence

  • According to sections 111 and 114 of the Income and Corporation Tax Act 1988 (‘ICTA’), the profits of the partnership are first calculated for the purposes of corporation tax as if the partnership were a company but then those profits are taxed in the hands of the corporate partners according to their proportionate interests in the partnership.

  • The Society is a registered charity and, as such, is exempt from taxes under the provision of the Income and Corporation Tax Act 2003.

  • The total dividends payable in respect of the financial year for the purposes of the income retention test for Section 1159 of the Income and Corporation Tax Act 2010 are set out below.

  • You may subscribe to the Account by the transfer of shares issued to you under an approved All Employee Savings Related Share Option Scheme defined in Paragraph 1, Schedule 9 of the Income and Corporation Tax Act 1988 or an approved All Employee Profit Sharing Scheme as defined in Chapter 4, Part 5 of the Income and Corporation Taxes 1988.

  • Under the Income and Corporation Tax Act 1988, housing co-operatives do not have to pay corporation tax on rental income provided that rent solely comes from members.

  • Dividend for the purposes of Section 1158 of the Income and Corporation Tax Act 2010 (‘Section 1158’) The requirement of Section 1158 of the Income and Corporation Tax Act 2010 are considered on the basis of dividends proposed in respect of the financial year, shown below.

  • There are references in the regulations to the Income and Corporation Tax Act relating to permitted reductions or to people who may set up stakeholder schemes which have been superseded by the Finance Act 2004.

  • The sum payable shall be subject to a 20% withholding Tax in accordance with Income and Corporation Tax Act.

  • To satisfy the conditions for entry into the Pension Protection Fund an occupational pension scheme must be tax approved in accordance with the requirements contained in sections 590 and 591 of the Income and Corporation Tax Act 1988.

  • Representatives of Inland Revenue also indicated that further requests for guidance are regularly received by the Head Office concerning section 577A of the Income and Corporation Tax Act 1988.

Related to Income and Corporation Tax Act

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • Foreign nonprofit corporation means an entity:

  • Tax Act means the Income Tax Act (Canada).

  • Canadian Tax Act means the Income Tax Act (Canada) and the regulations thereunder, as amended from time to time.

  • Foreign Employee Benefit Plan means any employee benefit plan as defined in Section 3(3) of ERISA which is maintained or contributed to for the benefit of the employees of the Borrower, any of its Subsidiaries or any of its ERISA Affiliates, but which is not covered by ERISA pursuant to Section 4(b)(4) of ERISA.

  • Publicly traded corporation means any Person other than an individual that is organized under the laws of and for which its principal place of business is located in one of the states or territories of the United States or District of Columbia or another country that authorizes the sale of marijuana that:

  • Nonprofit corporation means a nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17).

  • Disregarded Entity means a single member limited liability company, a qualifying subchapter S subsidiary, or another entity if the company, subsidiary, or entity is a disregarded entity for federal income tax purposes.

  • Excise Tax Act means the Excise Tax Act (Canada);

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • Subchapter S Corporation (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of stock of Borrower, or (d) purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • U.S. Tax Code means the United States Internal Revenue Code of 1986, as amended; and

  • Domestic Corporation means an entity that is treated as a corporation for United States federal income tax purposes and is a U.S. Tax Person.

  • Taxable REIT Subsidiary means, as to Host REIT and with regard to Host REIT’s taxable years commencing after December 31, 2000, any of Fernwood, Rockledge or any other TRS of Host REIT, and, as to any Subsidiary REIT, any TRS of such Subsidiary REIT.

  • U.S. Tax Person A citizen or resident of the United States, a corporation, partnership (except to the extent provided in applicable Treasury regulations) or other entity created or organized in or under the laws of the United States, any State thereof or the District of Columbia, an estate whose income is subject to United States federal income tax regardless of its source, or a trust if a court within the United States is able to exercise primary supervision over the administration of such trust, and one or more such U.S. Tax Persons have the authority to control all substantial decisions of such trust (or, to the extent provided in applicable Treasury regulations, certain trusts in existence as of August 20, 1996 that have elected to be treated as U.S. Tax Persons).

  • Australian Tax Act means the Income Tax Assessment Act 1936 (Cth) (Australia) or the Income Tax Assessment Act 1997 (Cth) (Australia), as applicable.

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017;

  • Publicly traded partnership means any partnership, an interest in which is regularly traded on an established securities market. A “publicly traded partnership” may have any number of partners.

  • Disregarded Domestic Subsidiary means any direct or indirect (other than through a Foreign Subsidiary) Domestic Subsidiary of which substantially all of its assets consist of Equity Interests of one or more indirect Foreign Subsidiaries.

  • United States Tax Person A citizen or resident of the United States, a corporation, partnership or other entity created or organized in, or under the laws of, the United States, any State thereof or the District of Columbia, an estate whose income from sources without the United States is includible in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States Tax Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code (or, to the extent provided in the applicable Treasury Regulations, certain trusts in existence on August 20, 1996 that have elected to be treated as United States Tax Persons).

  • Qualified nonprofit organization means, with respect to a Project, an organization exempt from federal income tax under Section 501(c) (3) or (4) of the Internal Revenue Code, which is not and during the Compliance Period will not be affiliated with or controlled by a for-profit organization, whose exempt purposes include the fostering of low income housing, which owns an interest in the Project, which will materially participate in the development and operation of the Project throughout the Compliance Period, and which is not affiliated with or controlled by a for-profit organization.