Section 230A National Pensions Reserve Fund Commission

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Amendments

Section 230A inserted by National Pensions Reserve Fund Act 2000 section 30(b).

Notwithstanding any provision of the Corporation Tax Acts, profits arising to [the National Pensions Reserve Fund,]¹ the National Pensions Reserve Fund Commission [or a Commission investment vehicle (within the meaning given by section 2 of the National Pensions Reserve Fund Act 2000 (as amended by section 2 of the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009))]² shall be exempt from corporation tax.

Amendments

1 Substituted by Financial Measures (Miscellaneous Provisions) Act 2009 section 21 and Schedule 2 Part 6 Item 1.

2 Inserted by Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009 section 9(b).

Are payments made to the National Pensions Reserve Fund Commission taxable?

No - the National Pensions Reserve Fund Commission (NPRFC) is exempt from corporation tax. Any payments made by the Commission may be made gross, i.e., without deduction of income tax.