Section 259J | Overview of Chapter ^F1

(1)This Chapter contains provision that counteracts double deduction mismatches that it is reasonable to suppose would otherwise arise as a result of a company—

(a)being a dual resident company, or

(b)being a relevant multinational company.

(2)The counteraction operates by altering the corporation tax treatment of the company.

(3)Section 259JA contains the conditions that must be met for this Chapter to apply.

(4)Subsection (3) of that section defines “dual resident company”.

(5)Subsection (4) of that section defines “relevant multinational company”, “parent jurisdiction” and “PE jurisdiction”.

(6)Subsection (5) of that section defines “dual territory double deduction amount”.

(7)Section 259JB contains provision that counteracts the mismatch where the company is a dual resident company.

(8)Section 259JC contains provision that counteracts the mismatch where the company is a multinational company and the United Kingdom is the parent jurisdiction.

(9)Section 259JD contains provision that counteracts the mismatch where the company is a relevant multinational company, the United Kingdom is the PE jurisdiction and the mismatch is not counteracted under a provision of the law of a territory outside the United Kingdom that is equivalent to section 259JC.

(10)See also section 259BF for the meaning of “permanent establishment”.