CHAPTER 3A

Implementation of Council Directive 2003/48/EC of 3 June 2003 on Taxation of Savings Income in the Form of Interest Payments and Related Matters

898B Interpretation (Chapter 3A).

(1) In this Chapter and in any regulations made under this Chapter, except where the context otherwise requires—

“arrangements” has the meaning assigned to it by section 898P;

“beneficial owner” has the meaning assigned to it by section 898C(1);

“building society” and “credit union” have the same meanings, respectively, as in section 256;

“certificate of residence for tax purposes”, in relation to a third country, means a certificate given by the competent authority of that country certifying that an individual is by virtue of the law of that country resident for the purposes of tax in that country, and references to a tax residence certificate shall be construed accordingly;

“competent authority” means—

(a) in relation to a Member State, the authority notified to the European Commission by the Member State for the purposes of the Directive, and

(b) in relation to a third country, the competent authority for the purposes of bilateral or multilateral tax conventions or, in the absence of any such authority, the authority competent in that country to issue certificates of residence for tax purposes;

“deemed interest payment” has the meaning assigned to it by section 898E(7)(a);

“deemed UCITS” has the meaning assigned to it by section 898D(3)(a);

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“the Directive” means Council Directive 2003/48/EC of 3 June 2003¹;

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“the Directive” means Council Directive 2003/48/EC of 3 June 2003¹ as amended;

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“electronic means” includes electrical, digital, magnetic, optical, electromagnetic, biometric and photonic means of transmission of data and other forms of related technology by means of which data is transmitted;

“interest payment” has the meaning assigned to it by section 898E;

“Member State” means a Member State of the European Communities;

“money” includes money expressed in a currency other than euro;

“money debt” means a debt arising from a transaction for the lending of money and which may be settled by—

(a) the payment of money, or

(b) the transfer of a right to settlement under a debt which may be settled by the payment of money,

whether or not the debt creates or evidences a charge on assets and whether or not the debt carries a right to participate in the profits of the debtor;

“official identity card” has the meaning assigned to it by section 898G(1);

“paying agent” has the meaning assigned to it by section 898D(1);

“PPS number”, in relation to an individual resident in the State, means that individual’s Personal Public Service Number within the meaning of ^[3]>section 223 of the Social Welfare (Consolidation) Act 1993;^{<[3] [3]>}section 262 of the Social Welfare Consolidation Act 2005;^<[3]

“residual entity” has the meaning assigned to it by section 898D(1);

“relevant territory” means—

(a) a Member State other than the State, or

(b) a territory with which arrangements have been made;

“Revenue officer” means an officer of the Revenue Commissioners;

“securities” includes—

(a) assets which are not chargeable assets for the purposes of capital gains tax by virtue of section 607,

(b) stocks, bonds and obligations of any government, municipal corporation, company or other body corporate, whether or not creating or evidencing a charge on assets, and

(c) any other money debts whether or not evidenced in writing,

but does not include shares (within the meaning of the ^[4]>Companies Act 1963^<[4][4]>Companies Act 2014^<[4]) of a company (within the meaning of that Act) or similar body;

“strip of a security” shall be construed in accordance with section 55;

“UCITS” has the meaning assigned to it by section 898D(2)(c);

“UCITS Directive” means Council Directive 85/611/EEC of 20 December 1985¹;

“tax year” means a year of assessment for income tax or capital gains tax, as appropriate;

“third country” means a territory other than a Member State;

“TIN”, in relation to a relevant territory, means a unique identification number allocated by the relevant territory to an individual for the purposes of taxation and, in relation to the State, means an individual’s PPS number.

(2) (a) Subject to paragraph (b), for the purposes of this Chapter an individual’s residence is to be treated as situated in the country in which the individual has his or her permanent address, and any reference in this Chapter to an individual being resident in a country shall be construed accordingly.

(b) Paragraph (a) shall not apply for the purposes of—

(i) the definition of “certificate of residence for tax purposes” in subsection (1) and any use of that definition or of the term tax residence certificate in this Chapter, and

(ii) subsection (3) and any reference in this Chapter to a person being a resident of a territory for tax purposes.

(3) For the purposes of this Chapter, a person is to be regarded as being a resident of a territory for tax purposes if the person is by virtue of the law of that territory resident for the purposes of tax in that territory.

(4) A word or expression that is used in this Chapter and is also used in the Directive has, unless the contrary intention appears, the meaning in this Chapter that it has in the Directive.