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  • The meaning of income subject to tax on a current basis



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    The income of a branch for an accounting period is treated as subject to tax in a foreign country on a current basis if the income is included in the tax base of the country for a tax year ending or commencing in the accounting period.

    Last modified: 05 Dec 2006QC 17522