40E.    Ceasing to be controlled foreign company

Where a controlled foreign company ceases to be a controlled foreign company during any foreign tax year of that controlled foreign company prior to 5 June 2015 solely by reason of the coming into operation of the Taxation Laws Amendment Act, 2015, section 9H(3)(b) must not apply.

[Section 40E inserted by section 60 of Act 25 of 2015 effective on 31 December 2015]