Finance Act, 1998

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SCHEDULE 3

Amendment of Principal Act in Consequence of Convention with United States of America relating to Double Taxation, etc.

Section 48 .

The Taxes Consolidation Act, 1997 , is hereby amended in accordance with the following provisions of this Schedule.

1. In section 44(1) in the definition of “relevant territory” there shall be deleted “the United States of America or”.

2. In section 168(1)—

(a) in paragraph (a)(ii)(II) there shall be deleted “of the United States of America or”, and

(b) in paragraph (b) there shall be deleted—

(i) the definition of “resident of the United States of America”, and

(ii) “, other than the United States of America,”.

3. In section 222(1)(b)—

(a) in subparagraph (i) there shall be deleted “of the United States of America or”, and

(b) in subparagraph (ii) there shall be deleted—

(i) the definition of “resident of the United States of America”, and

(ii) “other than the United States of America”.

4. In section 452—

(a) in subsection (1)—

(i) in paragraph (a) there shall be deleted the definition of “resident of the United States of America”, and

(ii) in paragraph (b) there shall be deleted “, other than the United States of America,”,

and

(b) in subsection (2)(c) there shall be deleted “of the United States of America or”.

5. In section 627(2)(a) there shall be substituted for the definition of “relevant territory” the following definition:

“‘relevant territory’ means a territory with the government of which arrangements having the force of law by virtue of section 826 have been made.”.

6. In section 690(2) there shall be deleted—

(a) in paragraph (c) “of the United States of America or”,

(b) “‘resident of the United States of America’ has the meaning assigned to it by the Convention set out in Schedule 25, and”, and

(c) “, other than the United States of America,”.

7. In section 730 for paragraph (b) there shall be substituted the following paragraph:

“(b) is not entitled to, or disclaims, by notice in writing to the appropriate inspector (within the meaning of section 950(1)), relief in respect of the distribution under arrangements made under section 826 as applied for corporation tax,”.

8. In section 826(1) there shall be deleted “833 to”.

9. In section 830 for subsection (2) there shall be substituted the following subsection:

“(2) This section shall apply to every territory other than a territory with the government of which arrangements are for the time being in force by virtue of section 826.”.

10. Sections 833 and 834 shall be deleted.

11. In Schedule 22 in paragraph 4(2) there shall be deleted “or 833”.

12. In Schedule 24 in the definition of “arrangements” in paragraph 1(1) there shall be deleted “or section 12 of the Finance Act, 1950 ”.

13. Schedule 25 shall be deleted.