If you wish to claim a tax exemption on the basis that a CFC has passed the active income test - see chapter 1 - you must:
- ensure that the company has kept accounts for the statutory accounting period. These accounts must
- be prepared in accordance with commercially accepted accounting principles
- give a true and fair view of the financial position of the company
- ensure that the CFC will assist by providing accounting and other information which the Tax Office may ask you to supply.