Paragraph 49
(1)
The CFC charge is charged in relation to accounting periods of CFCs beginning on or after 1 January 2013.
(2)
The first accounting period of a company which is a CFC at the beginning of 1 January 2013 begins at that time.
(3)
Sub-paragraph (2) is subject to paragraph 50 below.
(4)
This paragraph is to be read as if contained in Part 9A of TIOPA 2010.