Page 2 - P6 Slide Taxation - Lecture Day 6 - Return of Capital
P. 2
Any amount transferred by a resident
company
for the benefit or on behalf of any person in
respect of any share in that company
to the extent that that transfer results in a
reduction of ‘contributed tax capital’ of the
company
whether that amount is transferred by way of
a distribution, or
as consideration for the repurchase by the
company of its own shares.
