Section 67 | International Olympic Committee

(1)The Treasury may make regulations—

(a)providing for the International Olympic Committee to be treated for the purposes of corporation tax as not having a permanent establishment in the United Kingdom;

(b)providing for the International Olympic Committee not to be chargeable to income tax or capital gains tax;

(c)disapplying the duties to deduct under Chapters 3, 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source) to payments to the International Olympic Committee.

(2)The Treasury may make regulations—

(a)providing for a specified person or class of person appearing to the Treasury to be owned or controlled by the International Olympic Committee to be treated for the purposes of corporation tax as not having a permanent establishment in the United Kingdom;

(b)providing for a specified person or class of person appearing to the Treasury to be owned or controlled by the International Olympic Committee not to be chargeable to income tax or capital gains tax;

(c)disapplying the duties to deduct under Chapters 3, 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source) to payments to a specified person or class of person appearing to the Treasury to be owned or controlled by the International Olympic Committee.

(3)Regulations under this section—

(a)may make provision which applies generally or only in specified cases or circumstances,

(b)may make different provision for different cases or circumstances,

(c)may have retrospective effect, and

(d)may include incidental, consequential or transitional provision.

(4)Regulations under this section—

(a)shall be made by statutory instrument, and

(b)shall be subject to annulment in pursuance of a resolution of the House of Commons.

(5)A claim may be made for any repayment of income tax required as a result of an exemption conferred under this section.