A branch equivalent tax account (BETA) is a memorandum account used to prevent double taxation of income.

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A BETA is used to prevent double taxation of:

• attributed foreign income derived from an income interest of 10% or greater in a controlled foreign company (CFC)
• income arising from an interest in a foreign investment fund (FIF)
  • where the branch equivalent method or accounting profits method is used, or
  • which is held either through a CFC or an FIF where the branch equivalent method is used.

This return must be completed by a New Zealand resident company that maintains a branch equivalent tax account (BETA). A person (other than a company) who maintains a BETA must complete the Branch equivalent tax account return (IR308).

Your IRD number.

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After you finish

Attach this completed form to the company's income tax return.