Finance Act 2003

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Amendment of section 130 (matters to be treated as distributions) of Principal Act.

61.—(1) Section 130 of the Principal Act is amended by inserting the following after subsection (2A):

“(2B) Subsection (2)(d)(iv) shall not apply as respects interest, other than interest to which section 452 or 845A applies, paid to a company which is a resident of a Member State of the European Communities other than the State and, for the purposes of this subsection, a company is a resident of a Member State of the European Communities if the company is by virtue of the law of that Member State resident for the purposes of tax (being any tax imposed in the Member State which corresponds to corporation tax in the State) in such Member State.”.

(2) This section applies as respects any interest paid or other distribution made on or after 6 February 2003.