Statutory Instruments
INCOME TAX
Made
5th July 1996
Coming into force
30th July 1996
The Commissioners of Inland Revenue, in exercise of the powers conferred on them by section 791 of the Income and Corporation Taxes Act 1988(1), hereby make the following Regulations:
1. These Regulations may be cited as the Double Taxation Relief (Taxes on Income) (United States of America Dividends) (Amendment) Regulations 1996 and shall come into force on 30th July 1996.
2. In regulation 2(2) of the Double Taxation Relief (Taxes on Income) (U.S.A.) Regulations 1946(2), for the definition of “chargeable person” there shall be substituted the following definition—
““chargeable person” means any person who is a “collecting agent” within the meaning given by section 118A(d) of the Income and Corporation Taxes Act 1988(3);”.
S C T Matheson
C W Corlett
Two of the Commissioners of Inland Revenue
5th July 1996
(This note is not part of the Regulations)
These Regulations amend the Double Taxation Relief (Taxes on Income) (U.S.A.) Regulations 1946 which relate to the taxation of dividends from United States sources. The Regulations substitute a new definition of “chargeable person” as denoting any person who is a “collecting agent” within the meaning given by section 118A(d) of the Income and Corporation Taxes Act 1988 (inserted by paragraph 1 of Schedule 29 to the Finance Act 1996). The effect is to ensure that a “chargeable person” in the 1946 Regulations is a “collecting agent” for the purposes of the provisions relating to collecting agents inserted (by paragraph 1 of Schedule 29 to the Finance Act 1996) in the Income and Corporation Taxes Act 1988 as Chapter VIIA of Part IV of that Act.
S.R. & O. 1946/1331; a relevant amending instrument is S.I. 1994/1418.
Section 118A was inserted by paragraph 1 of Schedule 29 to the Finance Act 1996 (c. 8).