Taxation (International and Other Provisions) Act 2010 section 441

Tax-EBITDA of qualifying infrastructure company to be nil

Section 441 provides that a qualifying infrastructure company is treated as having nil tax-EBITDA for any accounting period in which it holds that status.

• This section applies where a company qualifies as a qualifying infrastructure company for an entire accounting period.
• Where the section applies, the company's tax-EBITDA is treated as nil for that accounting period.
• The effect is to remove the company's earnings measure from the corporate interest restriction calculations under this Part of the Act.
• The qualifying infrastructure company status must be maintained throughout the whole accounting period for this treatment to apply.

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