The International Organisations (Tax Exemptions Designation) Order, SI 2023/348, provides for limited exemptions from income tax, capital gains tax, inheritance tax, stamp duty and stamp duty reserve tax to be given in respect of securities issued by the Caribbean Development Bank, Asian Infrastructure Investment Bank, and Inter-American Investment Corporation – international organisations of which the UK is a member.
The order also designates the European Bank for Reconstruction and Development as an international organisation which is exempt from the obligation to deduct tax under the construction industry scheme (expressly designating the bank as excluded from the definition of ‘contractor’ in FA 2004 s 59).
The International Organisations (Tax Exemptions Designation) Order, SI 2023/348, provides for limited exemptions from income tax, capital gains tax, inheritance tax, stamp duty and stamp duty reserve tax to be given in respect of securities issued by the Caribbean Development Bank, Asian Infrastructure Investment Bank, and Inter-American Investment Corporation – international organisations of which the UK is a member.
The order also designates the European Bank for Reconstruction and Development as an international organisation which is exempt from the obligation to deduct tax under the construction industry scheme (expressly designating the bank as excluded from the definition of ‘contractor’ in FA 2004 s 59).
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