PART 2Digital services tax
Groups, parents and members
58Section 57: meaning of “relevant entity”
(1)
In section 57 “relevant entity” means—
(a)
a company, or
(b)
an entity the shares or other interests in which are listed on a recognised stock exchange and are sufficiently widely held.
(2)
Shares or other interests in an entity are “sufficiently widely held” if no participator in the entity holds more than 10% by value of all the shares or other interests in the entity.
(3)
The following are not relevant entities—
(a)
the Crown;
(b)
a Minister of the Crown;
(c)
a government department;
(d)
a Northern Ireland department;
(e)
a foreign sovereign power.
(4)
In this section—
(a)
“participator” has the meaning given by section 454 of CTA 2010;
(b)
“recognised stock exchange” has the meaning given by section 1137 of CTA 2010;
(c)
the reference to shares or other interests being listed on a recognised stock exchange is to be read in accordance with section 1137 of CTA 2010.
(5)
For the meaning of “company” see section 72.