group relief

group relief

the set of rules permitting companies within the same group certain flexibility that would not be allowed if the group relationship did not exist. Thus, for example, a trading loss incurred by one group member maybe set against profits of another member of the same group.
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The original Section 103C states, 'dividend income derived by a company, if the recipient of the dividend, for the tax year has availed group relief under Section 59B'.
Government has exempted such dividend derived by a company if the company avails group relief according to the proportion of shareholding of the company.
It exempts such dividend derived by a company if it avails group relief according to its proportion of shareholding.
LAHORE -- Pakistan Chemical Manufacturers Association (PCMA) on Tuesday demanded restoration of Section 59B along with clause (103A) of the Income Tax Ordinance, 2001 regarding group relief in final approval of budget for encouragement of corporatization in the country.
e sale of another UK-based Nike Inc a"liate thought to be loss-making sports brand Umbro prompted changes in the rm's UK tax group and meant no group relief for taxable prots during the nancial year.
Cochrane said separation would also end the practice of "group relief ", where firms offset losses made in some parts of the UK with profits made in another.
It also covers self-assessment, trading profits, loan relationships, loss relief, intangible fixed assets, group relief and group chargeable gains.
It has nothing left now but international pressure, foreign military intervention or economical and political pressures by foreign parties, which will not bear their fruits or bring the group relief before seeing its leaders in prison, its youth going astray, its present drifting in the wind and its future unknown.
909 in cases involving disregarded payments, group relief, or other similar arrangements.
The Patent Box regime will also benefit UK businesses which currently shelter UK taxable profits through use of brought forward losses, group relief or other reliefs.
It may be recalled that in the Finance Act 2007, the government had allowed the concept of group relief for the first time in Pakistan and that law was widely hailed by international experts as the most progressive in the region.

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