The Income Tax (Manufactured Overseas Dividends) (Amendment) Regulations 2003

Amendments to regulation 2

3.—(1) Amend regulation 2 (interpretation)(1) as follows.

(2) In paragraph (1)—

(a) in the definitions of “approved United Kingdom collecting agent” and “approved United Kingdom intermediary” for “branch or agency” substitute “permanent establishment”;

(b) omit the definition of “the Double Taxation Relief Regulations”(2);

(c) for the definition of “United Kingdom recipient” substitute—

““United Kingdom recipient” shall be construed in accordance with paragraph 4(3A) of Schedule 23A(3).”.

(3) After paragraph (2) add—

“(3) In these Regulations references to a permanent establishment shall be read, in relation to accounting periods beginning before 1st January 2003, as references to a branch or agency.”.

(1)

Regulation 2 was relevantly amended by regulation 3(b) and (c) of S.I. 1996/1229 and regulation 3(1) of S.I. 1996/2643.

(2)

The reference is to the Double Taxation Relief (Taxes on Income) (General) (Manufactured Overseas Dividends) Regulations 1993 (S.I. 1993/1957) which were amended by S.I. 1995/1551 and S.I. 1996/2654. All these regulations are revoked by S.I. 2003/2581 with effect from 1st November 2003.

(3)

Paragraph 4(3A), together with paragraph 4(3B), was inserted by section 159(5) of the Finance Act 1996.