Commentary

D1.850 Release of obligations

Corporate tax
Corporate tax | Commentary

D1.850 Release of obligations

Corporate tax | Commentary

D1.850 Release of obligations

Where a company is released from an obligation to pay an amount due under the terms of a derivative contract, generally the company will be required to include the amount of the release in computing its profits for the purposes of the derivative contracts legislation. No credit is required to be brought into account, however, where the release is part of a statutory insolvency arrangement1.

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