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Taxes Consolidation Act, 1997 (Number 39 of 1997)


Chapter 3

Deposit Return

267Q Treatment of deposit return.

Subject to section 130, a deposit return shall be treated for all the purposes of the Tax Acts as if it were relevant interest paid on a deposit of money and for this purpose—

(a) Chapter 4 of Part 8 shall apply to the deposit return as if it were relevant interest on a relevant deposit, and

(b) the relevant deposit taker shall not be regarded as carrying on a trade in partnership with the beneficial owner of the deposit for the purposes of Part 43 merely by virtue of the deposit arrangement.




Inserted by FA10 s39. Deemed to have come into force and takes effect as on and from 1 January 2010.