Taxation (International and Other Provisions) Act 2010 section 1

Overview of Act

Section 1 provides a high-level overview of the Taxation (International and Other Provisions) Act 2010, describing the main subject areas covered by each Part of the Act.

• The Act's core Parts address international taxation topics including double taxation relief, transfer pricing, advance pricing agreements, hybrid mismatches, offshore funds, controlled foreign companies, and corporate interest restriction.
• Part 9 relocates existing tax provisions from earlier legislation (TCGA 1992, ITTOIA 2005, and ITA 2007) into more appropriate locations, covering areas such as oil activities, alternative finance arrangements, leasing, sale and lease-back, factoring of income, and UK representatives of non-UK residents.
• Part 11 contains general provisions that apply across the Act, including key definitions used throughout.
• Abbreviations used in the Act are explained in section 500, and defined expressions used in Parts 2 to 8 are set out in Schedule 11.