Taxation (International and Other Provisions) Act 2010 section 259BA

References to equivalent provision to this Part under the law of a territory outside the United Kingdom

Section 259BA explains how to determine whether a law in another country counts as an "equivalent provision" to the UK's hybrid mismatch rules in Part 6A of the Act.

• When Part 6A refers to an equivalent provision in a territory outside the UK, it means a foreign law that can reasonably be considered to be based on the OECD's 2015 Final Report on Neutralising the Effects of Hybrid Mismatch Arrangements, or any replacement or supplementary publication.
• The foreign law must also have the same or similar purposes as Part 6A, or the specific provision of Part 6A being referenced.
• A "replacement or supplementary publication" means any document approved and published by the OECD to replace, update or supplement the original 2015 report, including replacements of or supplements to any such subsequent document.
• This definition ensures that as the OECD updates its guidance on hybrid mismatches over time, foreign laws based on that updated guidance can also qualify as equivalent provisions.