Corporation Tax Act, 1976

Chargeable gains accruing to non-resident companies.

159.—If any tax payable by any company by virtue of section 36 (2) of the Capital Gains Tax Act, 1975 (under which shareholders in a non-resident company may be taxed in respect of a chargeable gain accruing to the company), is paid by the company to which the chargeable gain accrues, or in a case under subsection (8) of the said section is paid by any such other company, the amount so paid shall not for the purposes of corporation tax be regarded as a payment to the company by which the tax was originally payable.