Income Tax Act 2007 section 1023

Meaning of "double taxation arrangements"

Section 1023 defines the term "double taxation arrangements" as used throughout the Income Tax Act 2007.

• The section provides a statutory definition of "double taxation arrangements" for the purposes of the Income Tax Act 2007.
• Double taxation arrangements are those agreements given legal effect under section 2(1) of the Taxation (International and Other Provisions) Act 2010 (TIOPA 2010).
• These are typically bilateral treaties between the UK and other countries designed to prevent the same income being taxed twice.
• Whenever the Income Tax Act 2007 refers to "double taxation arrangements", it means only those arrangements formally brought into effect through the TIOPA 2010 mechanism.