Commentary on Sections Overview Overview Section 47: Applying section 44(2): royalty income
143.This section supplements section 44 in its application to royalties. It is based on section 798B(3) of ICTA.
144.This section is a corporation tax provision, and subsection (2) therefore has “accounting period” where the source legislation has “year of assessment”. This is a minor change in the law. See Change 7 in Annex 1.