Deductions at source - CIOT - The Chartered Institute of Taxation
Deductions at source - CIOT - The Chartered Institute of Taxation
Deductions at source - CIOT - The Chartered Institute of Taxation
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Tax Law Rewrite Deduction <strong>at</strong> Source <strong>CIOT</strong> comments 14 November 200549 Clause 11949.1 Q16: We are not convinced th<strong>at</strong> this does not represent a change in the law.ITTOIA, section 552 is based on ICTA, section 56(5). Th<strong>at</strong> refers to “anoblig<strong>at</strong>ion to pay a st<strong>at</strong>ed amount”. However, section 6(c) <strong>of</strong> the Interpret<strong>at</strong>ionAct seems to allow th<strong>at</strong> to be read as “an oblig<strong>at</strong>ion to pay st<strong>at</strong>ed amounts” andalso “oblig<strong>at</strong>ions to pay st<strong>at</strong>ed amounts”. But, there again, it seems equallyvalid to interpret the rewritten provisions in similar ways so as to allow there tobe more than one repayment d<strong>at</strong>e.49.2 Q17: If here is no practical need for the reference to units, then we have noobjection to their being omitted.50 Clause 12050.1 Q18: In the context <strong>of</strong> the current drafts, the single definition <strong>of</strong> “quotedEurobond” seems appropri<strong>at</strong>e.<strong>The</strong> <strong>Chartered</strong> <strong>Institute</strong> <strong>of</strong> Tax<strong>at</strong>ion14 November 2005P/bc/subsfinal/tlr 10 14.11.05
Change language