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Amendments relating to group payments
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41. (1) The Principal Act is amended—
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(a) in section 410—
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(i) in subsection (1)(a)—
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(I) by the substitution of the following definition for the definition of “tax”:
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“ ‘tax’, in relation to a relevant territory other than the State, means any tax imposed in the relevant territory which corresponds to corporation tax in the State;”,
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and
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(II) by the insertion of the following definition:
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“ ‘relevant territory’ means—
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(i) a relevant Member State,
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(ii) not being a territory referred to in subparagraph (i), a territory with the government of which arrangements having the force of law by virtue of section 826(1) have been made, or
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(iii) not being a territory referred to in subparagraph (i) or (ii), a territory with the government of which arrangements have been made which on completion of the procedures set out in section 826(1) will have the force of law;”,
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(ii) in subsection (1)(b)—
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(I) in subparagraph (i), by the substitution of “relevant territory” for “relevant Member State”, and
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(II) by the substitution of the following subparagraph for subparagraph (ii):
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“(ii) references to—
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(I) a company resident in a relevant Member State shall be construed as references to a company which, by virtue of the law of a relevant Member State, is resident for the purposes of tax in such a relevant Member State, and
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(II) a company resident in a relevant territory shall be construed as references to a company which, by virtue of the law of a relevant territory, is resident for the purposes of tax in such a relevant territory.”,
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(iii) in subsection (3)(a), by the substitution of “relevant territory” for “relevant Member State”, and
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(iv) in subsection (4)(a)(i), by the substitution of “relevant territory” for “relevant Member State”,
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and
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(b) in section 243(5)(c), by the substitution of “section 242A, 267I or 410(4)” for “section 242A or 267I”.
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(2) Subsection (1) shall apply to payments to which section 410 of the Principal Act applies made on or after the date of the passing of this Act.
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