Article 55 - Effect on Double Taxation Relief

Where a claim under Article 51(1) or an amended claim under Article 51(5) is allowed and the claimant has been or may be given credit for overseas tax under a Double Taxation Agreement or under Article 38, in computing the amount of that credit—

(a) the overseas tax to be taken into account as having been paid or as being payable by the claimant shall exclude any amount of overseas tax which would not have been paid or payable if the computation of the income to which the claim or amended claim relates, had, so far as it includes income to which the claim relates, been made on the arm's length basis; and
(b) the amount of the income to be taken into account as having been received by the claimant and in respect of which the claimant is or may be given credit for overseas tax shall be determined, so far as it includes income to which the claim or amended claim relates, on the arm's length basis.
Amended (as from 18th June 2014)