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OP 99: When credits and debits arise only in branch equivalent tax group accounts
or “This rule about branch equivalent tax group accounts is no longer in use”
You could also call this:

“Old rule about tax on overseas income for company groups no longer applies”

You don’t need to worry about this part of the law anymore. It was about how groups of companies paid tax on money they earned from other countries. The government removed this rule on 1 July 2012. This means it no longer applies to any money earned after that date.

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Next up: OP 101: Consolidated BETA payment of income tax

or “Payment of income tax using Branch Equivalent Tax Account for company groups is no longer allowed”
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Part O Memorandum accounts
Memorandum accounts of consolidated groups: Branch equivalent tax credits of consolidated BETA groups

OP 100Consolidated BETA payment of income tax on foreign income (Repealed)

    Notes
    • Section OP 100: repealed, on (applying for income years beginning on or after that date), by section 118(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).