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After nearly four long years of uncertainty, the Government has finally introduced into Parliament the re-written ‘share capital tainting’ provisions (the tainting provisions). These measures are anti-avoidance measures that severely penalise companies that transfer amounts to their share capital account.
Our tax alert highlights some of the key tax issues relating to the tainting provisions, including the impact of AIFRS, tax consolidation entries required by UIG 1052, and issues relating to the redemption of preference shares.
Click on the attachment to learn more.
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