Income Tax Act 2007 section 882

Quoted Eurobond interest

Section 882 provides an exemption from the requirement to deduct income tax at source when paying interest on quoted Eurobonds.

• Interest paid on quoted Eurobonds is exempt from the normal duty to deduct income tax at source
• This overrides the general requirement under section 874 to withhold tax from payments of yearly interest
• The definition of a quoted Eurobond is set out separately in section 987 of the Act
• This exemption applies regardless of who makes or receives the interest payment, provided the bond qualifies as a quoted Eurobond