# Finance (No. 2) Act 2023, Section 238: Tax transparency of entities

Extent: E+W+S+N.I.

An entity is regarded as tax transparent in a territory to the extent that the territory treats the income, expenditure, profits or losses of the entity, for the purposes of covered taxes, as the income, expenditure, profits or losses of the direct owner of the entity in proportion to its interest in the entity.

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Source: https://www.legislation.gov.uk/ukpga/2023/30/section/238 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-238
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.