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32. Hybrid and other mismatches

Budget Resolutions and Economic Situation — Amendment of the Law – in the House of Commons at 6:23 pm on 22nd March 2016.

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(1) Provision may be made for, and in connection with, the counteraction of certain cases that would otherwise give rise to—

(a) an amount being deductible from a person’s income for tax purposes—

(i) without a corresponding amount of income arising to a person for tax purposes, or

(ii) where an amount of income would arise to a person for tax purposes but would not be taxed at an appropriate rate, or

(b) an amount—

(i) being deductible from more than one person’s income for tax purposes, or

(ii) being deductible from a person’s income for the purposes of more than one tax.

(2) In this Resolution “tax” includes foreign tax.