Special investment income

(1) Income from special investment funds (special investment income) is 1. distributed income under section 35, 2. deemed-distributed income under section 36(1), and 3. profits from the disposal of special investment units under section 49.
(2) Section 2(5b), section 20(6) and (9), sections 32d and 43(5), first sentence of the Income Tax Act do not apply to special investment income. Section 3 no. 40 of the Income Tax Act and section 8b of the Corporate Income Tax Act do not apply, subject to section 42.
(3) The exemption of distributed and deemed-distributed income on the basis of a double taxation agreement is governed by section 43(1). Notwithstanding double taxation agreements, the exemption of distributions of a foreign special investment fund is granted only under the conditions of section 16(4).