34 Repeal of provisions relating to the Interest and Royalties Directive
Finance Act 2021 (2021 c 26) | Legislation

Exemptions from income tax

34  Repeal of provisions relating to the Interest and Royalties Directive

(1)     The following provisions are repealed—

(a)     sections 757 to 767 of ITTOIA 2005 (exemption from income tax for certain interest and royalty payments) and the italic heading before those sections, and

(b)     sections 914 to 917 of ITA 2007 (discretion to make royalty payments gross) and the italic heading before those sections;

and the remainder of this section makes amendments consequential on the repeal of those provisions.

(2)     In section 98 of TMA 1970 (special returns, etc)—

(a)     in subsection (4A)(b) omit “, (4DA)”, and

(b)     omit subsection (4DA).

(3)     In paragraph

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