Taxation (International and Other Provisions) Act 2010 section 123

Interpretation of sections 116 to 122

Section 123 provides definitions of key terms used in sections 116 to 122, which deal with double taxation relief in the context of cross-border mergers and reorganisations involving EU companies.

• A "company" for these purposes means any entity listed in Part A of Annex I to the EU Mergers Directive (Council Directive 2009/133/EC), which sets out qualifying entity types by member state.
• Terms relating to corporate finance — "derivative contract" and "loan relationship" — take their meanings from Parts 7 and 5 of the Corporation Tax Act 2009 respectively.
• Terms relating to intellectual property and similar assets — "intangible fixed assets", "chargeable intangible assets", "proceeds of realisation" and "recognised for tax purposes" — all take their meanings from Part 8 of the Corporation Tax Act 2009, with "proceeds of realisation" specifically defined in section 739 of that Act.
• The "Mergers Directive" refers to Council Directive 2009/133/EC, which codified and replaced the original 1990 Mergers Directive (90/434/EEC) without making substantive changes.