Taxation (International and Other Provisions) Act 2010 section 126

Meaning of "the Arbitration Convention"

Section 126 defines the term "the Arbitration Convention" as used in other sections of the Act.

• This section provides a definition of "the Arbitration Convention" for the purposes of sections 127 and 128 of the Act.
• The Arbitration Convention is a treaty aimed at eliminating double taxation that arises when profits of associated enterprises are adjusted between EU member states.
• The Convention was concluded on 23 July 1990 by the parties to the treaty establishing the European Economic Community (reference 90/436/EEC).
• This definition ensures consistent interpretation of the term wherever it appears in the relevant provisions of the legislation.