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Taxation (International and Other Provisions) Act 2010

Taxation (International and Other Provisions) Act 2010

2010 CHAPTER 8

Commentary on Sections

Part 4: Transfer pricing

Chapter 4: Position, if only one affected person potentially advantaged, of other affected person
Section 187: Tax treatment if actual interest exceeds arm’s length interest

382.This section requires a company not to deduct tax from interest so far as it exceeds interest payable under the arm’s length rule. It is based on paragraph 6E of Schedule 28AA to ICTA.

383.Without this rule tax would be deductible from the whole of the interest notwithstanding that that interest was not allowed in the calculation.

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