tax arises...be allowed as a credit against any tax...
German translation: s. u.
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19:49 Mar 11, 2007
English to German translations [PRO] Bus/Financial - Investment / Securities
English term or phrase:tax arises...be allowed as a credit against any tax...
Following legislative changes in the Finance Act 2006, the holding of Shares at the end of a Relevant Period will also constitute a chargeable event. To the extent that any **tax arises** on such a chargeable event, such tax will be allowed as a credit against any tax** payable on the subsequent encashment, redemption, cancellation or transfer of the relevant Shares.