The Exemption from Income Tax for Certain Interest and Royalty Payments (Amendment of Section 757(2) of the Income Tax (Trading and Other Income) Act 2005) Order 2006
This Order amends the reference in section 757(2) of the Income Tax (Trading and Other Income) Act 2005 (c. 5) to Council Directive 2003/49/EC of 3rd June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different member States (OJ No L 157, 26.6.03, p49). The Order inserts a reference to a later amending Directive, Council Directive 2006/98/EC adapting certain Directives in the field of taxation, by reason of the accession of Bulgaria and Romania (“the 2006 Directive”) (OJ No L363, 20.12.2006, p.129).