Finance Act 1967

36 Basis for determining unilateral relief from double taxation.

(1) Paragraph 1 of Part I of Schedule 17 to the Income Tax Act 1952 (under which, as extended by sections 39 and 64 of the [1965 c. 25.] Finance Act 1965, unilateral relief from double taxation is to be given by allowing credit for tax paid abroad in respect of any income or gains against the United Kingdom tax chargeable in respect of that income or those gains) shall be amended by substituting—

(a) for the words " in respect of ", where first occurring, the words " and computed by reference to ", and

(b) for the words " chargeable in respect of ", the words " computed by reference to ";

and the words " and computed by reference to " shall also be substituted for the words " in respect of " in both places where they occur in paragraph 1(b) of Part II of that Schedule (which contains supplemental provisions).

(2) The above amendments shall have effect as respects income and gains arising or accruing on or after 6th April 1967.