Statutory Instrument 1996 No. 3168
The Double Taxation Relief (Taxes on Income) (Republic of Korea) Order 1996
(The document as of February, 2008)
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STATUTORY INSTRUMENTS
1996 No. 3168
INCOME TAX
The Double Taxation Relief (Taxes on Income) (Republic of Korea) Order 1996
At the Court at Buckingham Palace, the 19th day of December 1996
Present,
The Queen's Most Excellent Majesty in Council
Whereas a draft of this Order was laid before the House of Commons in accordance with the provisions of section 788(10) of the Income and Corporation Taxes Act 1988[1], and an Address has been presented to Her Majesty by that House praying that an Order may be made in the terms of that draft:
Now, therefore, Her Majesty, in exercise of the powers conferred upon Her by section 788 of the said Act, and of all other powers enabling Her in that behalf, is pleased, by and with the advice of Her Privy Council, to order, and it is hereby ordered, as follows:—
1. This Order may be cited as the Double Taxation Relief (Taxes on Income) (Republic of Korea) Order 1996.
2. It is hereby declared— (a) that the arrangements specified in the Convention set out in Part I of the Schedule to this Order and in the Exchange of Notes constituting an Agreement set out in Part II of that Schedule have been made with the Government of the Republic of Korea with a view to affording relief from double taxation in relation to income tax, corporation tax or capital gains tax and taxes of a similar character imposed by the laws of the Republic of Korea;
(b) that those arrangements include provisions with respect to the exchange of information necessary for carrying out the domestic laws of the United Kingdom and the laws of the Republic of Korea concerning taxes covered by the arrangements; and
(c) that it is expedient that those arrangements should have effect.
N. H. Nicholls
Clerk of the Privy Council
Notes:[1] 1988 c. 1; section 788 is extended by section 277 of the Taxation of Chargeable Gains Act 1992 (c. 12).
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