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Income Tax (Trading and Other Income) Act 2005

Section 192: Meaning of “know-how” etc.

790.This section sets out the meaning of know-how and explains other concepts used in the Chapter. It is based on sections 531(8) and 533(7) of ICTA and section 572 of CAA.

791.The definition of “mineral deposits” in subsection (2) is restored to what it was before the enactment of CAA. See Change 51 in Annex 1.

792.Subsections (5) and (6) extend the meaning of “sale” to include an exchange. This rule is based on section 572 of CAA, which applies to section 531 of ICTA in accordance with section 532 of ICTA.

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