Reference period extension increases the prior-year lookback for tax provisions from a shorter to a longer span. Amendment of section 23 of the Finance Act substitutes the existing shorter prior-year temporal reference with a longer one, changing how many earlier ... Summary
Reference period extension increases the prior-year lookback for tax provisions from a shorter to a longer span.
Amendment of section 23 of the Finance Act substitutes the existing shorter prior-year temporal reference with a longer one, changing how many earlier years are relevant for the calculation or application governed by that provision; the modification is textual and adjusts only the temporal scope without adding substantive conditions.
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