Reference to tax rate changed to the rate specified in the Finance Act, aligning section 167A with annual Finance Act rates. The Amendment replaces the words "maximum marginal rate" in section 167A with the phrase rate as specified in the Finance Act of the relevant year, tying ... Summary
Reference to tax rate changed to the rate specified in the Finance Act, aligning section 167A with annual Finance Act rates.
The Amendment replaces the words "maximum marginal rate" in section 167A with the phrase rate as specified in the Finance Act of the relevant year, tying the provision's operative tax-rate reference to the Finance Act for the relevant year and effecting a statutory substitution of terminology within section 167A.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.