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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Double Taxation Relief and International Tax Enforcement (Virgin Islands) Order 2009 No. 3013 URL: http://www.bailii.org/uk/legis/num_reg/2009/uksi_20093013_en_1.html |
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Made
17th November 2009
At the Court at Buckingham Palace, the 17th day of November 2009
Present,
The Queen´s Most Excellent Majesty in Council
A draft of this Order was laid before the House of Commons in accordance with section 788(10) of the Income and Corporation Taxes Act 1988(1) and section 173(7) of the Finance Act 2006(2) and approved by a resolution of that House.
Accordingly, Her Majesty, in exercise of the powers conferred upon Her by section 788(1) of the Income and Corporation Taxes Act 1988 and section 173(1) of the Finance Act 2006, by and with the advice of Her Privy Council, orders as follows–
1. This Order may be cited as the Double Taxation Relief and International Tax Enforcement (Virgin Islands) Order 2009.
2. It is declared that–
(a) the arrangements specified in the Exchange of Letters set out in Part 1 of the Schedule to this Order and in the Agreement set out in Part 2 of that Schedule have been made with the Government of the Virgin Islands with a view to the exchange of information foreseeably relevant to the administration or enforcement or recovery of the taxes, and debts relating to the taxes, covered by the arrangements including, in particular, provisions about the prevention of fiscal evasion with respect to those taxes; and
(b) it is expedient that those arrangements should have effect.
3. It is also declared that–
(a) the arrangements specified in the Exchange of Letters set out in Part 1 of the Schedule to this Order and in the Agreement set out in Part 3 of that Schedule have been made with the Government of the Virgin Islands with a view to affording relief from double taxation in relation to United Kingdom income tax and taxes of a similar character imposed by the laws of either party; and
(b) it is expedient that those arrangements should have effect.
Judith Simpson
Clerk of the Privy Council
Article 2
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View a larger version of this image(This note is not part of the Order)
The Schedule to this Order contains an Exchange of Letters between the United Kingdom and the Virgin Islands concerning Agreements for the Exchange of Information Relating to Taxes and for the Avoidance of Double Taxation with respect to Taxes on Income. It also contains the text of those Agreements.
Article 2 provides that it is expedient that the arrangements specified in the Exchange of Letters in Part 1 of the Schedule to the Order and in the Agreement in Part 2 of the Schedule should have effect. These arrangements relate to the exchange of information relating to tax matters.
Article 3 provides that it is expedient that the arrangements specified in the Exchange of Letters in Part 1 of the Schedule to the Order and in the Agreement in Part 3 of the Schedule should have effect. These arrangements relate to the avoidance of double taxation with respect to taxes on income.
A detailed explanation of the Agreements can be found in the Explanatory Memorandum published with this Order and which may be accessed on the website of the Office of Public Sector Information at http://www.opsi.gov.uk/stat.htm
The Agreement for the Exchange of Information Relating to Taxes will enter into force on the date of the later of the notifications by each territory of the completion of its legislative procedures required to give effect to the Agreement and will have effect from that same date. However, in relation to matters other than criminal tax matters, the Agreement shall have effect only in relation to taxable periods beginning on or after the date of entry into force.
The Agreement for the Avoidance of Double Taxation with respect to Taxes on Income will also enter into force on the date of the later of the notifications by each territory of the completion of its legislative procedures. It will take effect in the United Kingdom for any year of assessment beginning on or after 6th April next following the date on which the Agreement enters into force; and in the Virgin Islands on or after 1st January next following the date on which the Agreement enters into force.
The date(s) of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.
A full and final Impact Assessment has not been produced for this instrument as a negligible impact on the private or voluntary sectors is foreseen.
1988 c. 1: Section 788 was extended by section 277 of the Taxation of Chargeable Gains Act 1992 (c. 12). It has also been amended. The relevant amendments are as follows: Subsection (1) was amended by section 88(1) of the Finance Act 2002 (c. 23). Subsection (10) was substituted by section 176 of the Finance Act 2006 (c. 25). Back [1]
