TIB - April 1992
In TIB Volume Three No.8 there was an article on a recent Disclosure Exemption issued by the Commissioner. Unfortunately, the last line of the article was missed off when it was printed.
The last paragraph should read:
An interest held in a foreign company will not generally have to be disclosed for that year, where that interest is not an “income interest of 10% or greater”, or where there is no requirement to attribute foreign income or loss under the CFC regime in relation to that company and any underlying foreign company.