Taxation (International and Other Provisions) Act 2010 section Schedule 9, paragraph 26

Interpretative rules saved for the purposes of applying sections 806A to 806K of ICTA to distributions paid before 1 July 2009

Schedule 9, paragraph 26 preserves certain old interpretative rules from ICTA so that they continue to apply when determining the tax treatment of distributions paid before 1 July 2009 in accounting periods ending on or after 1 April 2010.

• Although TIOPA 2010 repealed various ICTA provisions, certain interpretative rules from ICTA sections 788, 790 and 792 are kept alive for distributions paid before 1 July 2009 in accounting periods ending on or after 1 April 2010.
• These saved rules support the continued application of the old ICTA rules on double taxation relief for foreign distributions (sections 806A to 806K of ICTA) during the transitional period.
• The saved rules are modified so that references to the old ICTA framework are updated to refer instead to the equivalent provisions of TIOPA 2010, ensuring the two sets of legislation work together correctly.
• Any reference in the saved rules to relief under double taxation arrangements is treated as also including a reference to unilateral relief, preserving the broad scope of relief available under the old regime.