Taxation (International and Other Provisions) Act 2010 section 340

Meaning of "corporate entity"

Section 340 defined the term "corporate entity" for the purposes of the worldwide debt cap rules in Part 7 of the Act, but this provision has been repealed and replaced by the corporate interest restriction rules.

• Section 340 provided the definition of "corporate entity" used throughout the worldwide debt cap provisions in Part 7 of TIOPA 2010.
• The entire Part 7 worldwide debt cap regime, including this definition section, was repealed by the Finance (No. 2) Act 2017.
• The repeal took effect for periods of account of worldwide groups beginning on or after 1 April 2017.
• The worldwide debt cap rules were replaced by the corporate interest restriction rules introduced by section 20 and Schedule 5 of the Finance (No. 2) Act 2017.