Finance Act 2011
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Change 1
58 Transfer pricing: application of OECD principles
(1) In section 164 of TIOPA 2010 (Part to be interpreted in accordance with OECD principles), for subsection (4) substitute— (4) In this section “the transfer pricing guidelines” means— (a) the version of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations approved by the Organisation for Economic Co-operation and Development (OECD) on 22 July 2010, or (b) such other document approved and published by the OECD in place of that (or a later) version or in place of those Guidelines as is designated for the time being by order made by the Treasury, including, in either case, such material published by the OECD as part of (or by way of update or supplement to) the version or other document concerned as may be so designated. (2) The amendment made by this section has effect (in relation to provision made or imposed at any time)— (a) for corporation tax purposes, for accounting periods beginning on or after 1 April 2011, and (b) for income tax purposes, for the tax year 2011-12 and subsequent tax years.
58 Transfer pricing: application of OECD principles
(1) In section 164 of TIOPA 2010 (Part to be interpreted in accordance with OECD principles), for subsection (4) substitute— (4) In this section “the transfer pricing guidelines” means— (a) the version of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations approved by the Organisation for Economic Co-operation and Development (OECD) on 22 July 2010, or (b) such other document approved and published by the OECD in place of that (or a later) version or in place of those Guidelines as is designated for the time being by order made by the Treasury, including, in either case, such material published by the OECD as part of (or by way of update or supplement to) the version or other document concerned as may be so designated. (2) The amendment made by this section has effect (in relation to provision made or imposed at any time)— (a) for corporation tax purposes, for accounting periods beginning on or after 1 April 2011, and (b) for income tax purposes, for the tax year 2011-12 and subsequent tax years.
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