Deduction for supporting software developers with certificate and auditor verification requirements for export-linked profits. Amendments create a deduction for supporting software developers for profits from developing and selling computer software to exporting companies where the exporter issues a certificate; the exporter's deduction is reduced proportionately. Profits qualify in full if the developer's business is exclusively for exporting companies, otherwise profits are apportioned by turnover ratio. The deduction is conditional on an accountant's report and a certificate from the exporting company, the latter certified by the exporter's auditor. Definitions of 'exporting company' and 'supporting software developer' are inserted and exported items are broadened to include customised electronic data.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for supporting software developers with certificate and auditor verification requirements for export-linked profits.
Amendments create a deduction for supporting software developers for profits from developing and selling computer software to exporting companies where the exporter issues a certificate; the exporter's deduction is reduced proportionately. Profits qualify in full if the developer's business is exclusively for exporting companies, otherwise profits are apportioned by turnover ratio. The deduction is conditional on an accountant's report and a certificate from the exporting company, the latter certified by the exporter's auditor. Definitions of "exporting company" and "supporting software developer" are inserted and exported items are broadened to include customised electronic data.
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