Section 172F — Finance Act 2008: Transfer pricing rules to take precedence

Transfer pricing rules to take precedence 172F 1 Section 172D or 172E does not apply if the relevant consideration—

a falls to be adjusted for tax purposes under Schedule 28AA to ICTA, or b falls within that Schedule without falling to be so adjusted.

2 For the purposes of subsection (1)(b), the relevant consideration falls within Schedule 28AA to ICTA without falling to be adjusted under that Schedule if—

a the conditions in paragraph 1(1) of that Schedule are met, but b either—

i the actual provision does not differ from the arm's length provision, or ii the exception in paragraph 8, 10 or 13 of that Schedule applies.

3 In this section “ relevant consideration ” means—

a in relation to section 172D, the consideration for the disposal of the stock, and b in relation to section 172E, the consideration for the acquisition of the trading stock.