Finance (No. 2) Act 2023 (c. 30)

Schedules

Schedule 16 U.K. Multinational top-up tax: transitional provision

Part 2 U.K. Transitional safe harbour

Chapter 2 U.K. Application to joint ventures etc

Application to investment entities in same territory as owners U.K.

11 (1) Subsection (2) applies where—

(a) an investment entity that is a member of a multinational group, and

(b) all of the members of a multinational group with direct ownership interests in it,

are located in the same territory.

(2) The investment entity is to be treated as a standard member of that group for the purposes of this Part of this Schedule.