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831A.—(1) (a) In this section—
‘company’, in relation to a company that is resident for the purposes of tax in Switzerland, means a company which—
(i) takes one of the forms specified in Article 15 of the Agreement attached to the Council Decision (2004/911/EC) of 2 June 2004 on the signing and conclusion of the Agreement between the European Community and the Swiss Confederation providing for measures equivalent to those laid down in Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments and the accompanying Memorandum of Understanding1
, and
(ii) is subject to tax in Switzerland without being exempt;
‘parent company’ means a company which controls not less than 25 per cent of the voting power in another company;
‘tax’, in relation to Switzerland, means any tax imposed in Switzerland which corresponds to income tax or corporation tax in the State.
(b) For the purposes of this section a company shall be a subsidiary of another company which holds voting rights in it where the other company's holding of those rights is sufficient for that other company to be a parent company.
(2) Chapter 8A of Part 6, other than section 172K, shall not apply to a distribution made to a parent company which is, by virtue of the law of Switzerland, resident for the purposes of tax in Switzerland by its subsidiary which is a company resident in the State.”.
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