40 Securities of International Bank for Reconstruction and Development

The favourable treatment of interest outlined in section 36 (that is, that interest on certain securities may be issued without deduction of tax at source) applies to any interest on any stock or other form of security issued by the International Bank for Reconstruction and Development. The interest, however, is chargeable under Case III of Schedule D. (The Case III of Schedule D charge is removed in certain cases – see section 49.)

Relevant Date: Finance Act 2019