Commentary on Sections Overview Chapter 3: Trade profits: basic rules Section 31: Relationship between rules prohibiting and allowing deductions
147.This section makes clear the interaction between those provisions that allow a deduction and those provisions that prohibit a deduction. It is new. See Change 6 in Annex 1.
148.The general principle is that a rule allowing a deduction takes priority over a rule prohibiting a deduction. But this is subject to a number of exceptions.