Section Sch24 — Income Tax Act 2007: International tax rules: grey list countries

Schedule 24 International tax rules: grey list countries ss DZ 11 , YA 1 Schedule 24 heading: amended (with effect on 30 June 2009), on 6 October 2009, by section 584 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Part A Grey list countries 1 Australia, excluding the Territory of Norfolk Island 2 Canada 3 Federal Republic of Germany 4 Japan 5 United Kingdom of Great Britain and Northern Ireland 6 United States of America, excluding its possessions and territories 7 Norway 8 Kingdom of Spain Part B Features of the taxation law of countries specified in Part A 1 Any exemption from income tax for income derived from business activities carried on outside the country.

2 In the case of Australia, any special allowances, reliefs, or exemptions with respect to offshore banking units.

3 In the case of Canada, any special allowances, reliefs, or exemptions with respect to international banking centres.

4 In the case of the Federal Republic of Germany, any special allowances, reliefs, or exemptions with respect to regional located investment in the former German Democratic Republic or in West Berlin.

5 In the case of the United Kingdom of Great Britain and Northern Ireland, any special allowances, reliefs, or exemptions with respect to activities carried on in enterprise zones.

6 In the case of Canada, any special allowances, reliefs, or exemptions provided to non-resident owned investment corporations pursuant to section 133 of the Income Tax Act (Canada).

7 In the case of the Kingdom of Spain, any special allowances, reliefs, or exemptions with respect to activities that are carried on in, or by an enterprise registered in, the following: (a) Canary Islands: (b) Ceuta: (c) Melilla: (d) Alava: (e) Guipúzcoa: (f) Vizcaya: (g) Navarra.