Finance Act, 1964
Acts of the Oireachtas
Source: Acts of the Oireachtas

num: 1
paragraphs: —(1) Income tax shall be charged for the year beginning on the 6th day of April, 1964, at the rate of six shillings and four pence in the pound.
(2) Sur-tax for the year beginning on the 6th day of April, 1964, shall be charged in respect of the income of any individual the total of which from all sources exceeds two thousand five hundred pounds and shall be so charged at the same rates as those at which it is charged for the year beginning on the 6th day of April, 1963.
(3) The several statutory and other provisions which were in force on the 5th day of April, 1964, in relation to income tax and sur-tax and any such provisions which came into operation on the 6th day of April, 1964, in relation thereto shall, subject to the provisions of this Act, have effect in relation to the income tax and sur-tax to be charged as aforesaid for the year beginning on the 6th day of April, 1964.
num: 2
paragraphs: —(1) An individual who, in the manner prescribed by the Income Tax Acts, makes a claim in that behalf, makes a return in the prescribed form of his total income, and proves that at any time during the year of assessment either he or, in the case of a married man, his wife living with him was of the age of sixty-five years or upwards shall, for the purpose of ascertaining the amount of his assessable income for the purpose of income tax, be allowed a deduction from the amount of his unearned income of a sum equal to one-fourth of the amount of that income:
Provided that—
(a) in case the individual is entitled to a deduction exceeding three hundred and fifty pounds under section 16 of the Finance Act, 1920 —
(i) in case that deduction is five hundred pounds, there shall be no deduction under this section, and
(ii) in any other case, the deduction under this section shall not be greater than the amount by which the deduction under the said section 16 falls short of five hundred pounds, and
(b) in any other case, the deduction under this section shall not be greater than one hundred and fifty pounds.
(2) For the purpose of subsection (1) of this section the amount of the unearned income of any individual shall be taken to be the amount of his total income diminished by the amount of his earned income.
num: 3
paragraphs: —(1) In this section—
“total income” means total income from all sources as estimated in accordance with the provisions of the Income Tax Acts;
“relevant income” means, in relation to any individual, his total income exclusive of any part thereof which arises to him by virtue or in consequence of a disposition within the meaning of section 20 of the Finance Act, 1922 , and which, if subparagraphs (ii) and (iii) of paragraph (b) of subsection (1) of that section had been omitted therefrom, would be deemed to be income of the person by whom the disposition was made.
(2) Subject to the provisions of this section, an individual who, in the manner prescribed by the Income Tax Acts, makes a claim in that behalf, makes a return in the prescribed form of his total income, and proves that his total income for the year of assessment does not exceed four hundred and fifty pounds, shall, for the purpose of ascertaining the amount of his assessable income for the purpose of income tax, be allowed a deduction from the amount of his relevant income of a sum equal to one-fourth of the amount of that income.
(3) Subject as aforesaid, an individual not entitled to a deduction under the foregoing subsection shall be entitled to have the amount of the income tax payable in respect of his total income reduced, where necessary, so as not to exceed a sum equal to the aggregate of the two following amounts, that is to say, the amount of the tax which would have been payable if his total income had amounted to, but had not exceeded, four hundred and fifty pounds and one-half of the amount by which his total income exceeds four hundred and fifty pounds.
(4) For the purposes of subsection (3) of this section, the computation of the tax which would have been payable if the individual's total income had amounted to, but had not exceeded, four hundred and fifty pounds shall be made—
(a) in a case in which the individual's relevant income amounts to not less than four hundred and fifty pounds, on the basis that the income of four hundred and fifty-pounds consisted wholly of relevant income, and
(b) in a case in which the individual's relevant income is less than four hundred and fifty pounds, on the basis that the income of four hundred and fifty pounds included the whole of the relevant income.
(5) An individual shall not be entitled to any deduction or relief under this section if he is entitled to a deduction under section 2 of this Act and any deduction or relief under this section shall be in substitution for and not in addition to the deduction under section 16 of the Finance Act, 1920 .
(6) Section 9 of the Finance Act, 1958 , is hereby amended—
(i) by the insertion before paragraph (e) of subsection (2) of the following paragraph:
“(dd) so far as it flows from relief under section 3 of the Finance Act, 1964, in proportion to the amounts of their respective relevant incomes within the meaning of the said section 3, and” and
(ii) by the addition of “or under section 3 of the Finance Act, 1964” at the end of subsection (6).
num: 4
paragraphs: —As respects the computation of income for the purposes of income tax for the year 1964-65 or for any subsequent year of assessment—
(a) any deduction which, but for this paragraph, would be allowable for the tax in the United Kingdom known as profits tax shall be reduced by an amount equal to so much of that tax as can, under section 21 of the Finance Act, 1949 , be allowed as a credit against corporation profits tax;
num: 5
paragraphs: —The business of carrying out under section 4 of the Voluntary Health Insurance Act, 1957 , schemes of voluntary health insurance shall, for all the purposes of the Income Tax Acts in relation to the Voluntary Health Insurance Board, be deemed not to be a trade, and accordingly, in particular and without prejudice to the generality of the foregoing, that Board shall be exempt from income tax under Case I of Schedule D in respect of profits or gains arising from that business:
Provided that that Board shall be entitled to relief under section 34 of the Income Tax Act, 1918, as if the foregoing provisions of this section had not been enacted.
num: 6
paragraphs: —(1) Section 22 of the Finance Act, 1963 , is hereby amended by the addition of the following subsection:
“(3) As soon as may be after the termination of the appointment of a collector referred to in subsection (2) of this section, the inspector of taxes shall transmit to the Collector-General for collection particulars of all sums of income tax or balances thereof contained in duplicates which were delivered to that collector and which remained unpaid on such termination, and references in the Income Tax Acts to duplicates of assessments delivered to collectors shall be construed as including references to particulars so transmitted.”
(2) The reference in subsection (2) of section 23 of the Finance Act, 1963 , to section 22 of that Act shall be construed as including a reference to that section as amended by subsection (1) of this section.
(3) Where, before or after the 6th day of April, 1964, the collector duly appointed to collect any income tax in succession to another collector institutes or continues proceedings under section 11 of the Finance Act, 1924 , for the recovery of the tax or any balance thereof, the other collector shall, for the purposes of the proceedings, be deemed until the contrary is proved to have ceased to be the collector appointed to collect the tax.
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paragraphs: —(1) Where—
(a) an individual who holds, has held or is about to hold an office or employment gives, in connection with his holding thereof, an undertaking (whether absolute or qualified and whether legally valid or not) the tenor or effect of which is to restrict him as to his conduct or activities; and
(b) in respect of the giving of that undertaking by him, or of the total or partial fulfilment of that undertaking by him, any sum is paid, on or after the 14th day of April, 1964, either to him or to any other person; and
(c) apart from this section, the sum paid would neither fall to be treated as income of any person for the purposes of income tax for any year of assessment nor fall to be taken into account as a receipt in computing, for the purposes of income tax for any year of assessment, the amount of any income of, or loss incurred by, any person,
the same results shall follow in relation to sur-tax for the year of assessment in which the said sum is paid as would have followed if the said sum had been paid to the said individual (and not to any other person) as and for the net amount of an annual payment to which the said individual was entitled, being an annual payment chargeable to income tax from the gross amount of which tax had been duly deducted under Rule 21 of the General Rules:
Provided that where the individual has died before the payment of the said sum, so much of the preceding provisions of this subsection as relates to the results which are to follow from the matters specified in paragraphs (a) to (c) of this subsection shall have effect as if the said sum had been paid immediately before the death.
(2) Where valuable consideration otherwise than in the form of money is given in respect of the giving of, or of the total or partial fulfilment of, any undertaking, the preceding provisions of this section shall apply as if a sum had instead been paid equal to the value of that consideration.
(3) The preceding provisions of this section shall not apply to any sum paid or consideration given if the undertaking in question was given before the 14th day of April, 1964.
(4) Where any sum is paid or valuable consideration given to any person in any year of assessment in respect of the giving of, or of the total or partial fulfilment of, an undertaking given on or after the 14th day of April, 1964, and satisfying the conditions specified in paragraph (a) of subsection (1) of this section (not being a sum from which tax is duly deducted under any provision of the Income Tax Acts), it shall be the duty of the person paying over the sum or giving the consideration to deliver particulars thereof in writing to the inspector of taxes not later than one month after the end of that year, identifying the recipient of the payment or consideration, the undertaking in connection with which it was made or given and the individual who gave that undertaking.
num: 8
paragraphs: —(1) Subject to the provisions of this and the next following section, income tax shall be charged under Schedule E in respect of any payment to which this section applies which is made to the holder or past holder of any office or employment, or to his executors or administrators, whether made by the person under whom he holds or held the office or employment or by any other person.
(2) This section applies to any payment (not otherwise chargeable to income tax) which is made, whether in pursuance of any legal obligation or not, either directly or indirectly in consideration or in consequence of, or otherwise in connection with, the termination of the holding of the office or employment or any change in its functions or emoluments including any payment in commutation of annual or periodical payments (whether chargeable to tax or not) which would otherwise have been made as aforesaid
(3) For the purposes of this and the next following section, any payment made to the spouse or any relative or dependant of a person who holds or has held an office or employment, or made on behalf of or to the order of that person, shall be treated as made to that person, and any valuable consideration other than money shall be treated as a payment of money equal to the value of that consideration at the date when it is given.
(4) Any payment which is chargeable to tax by virtue of this section shall be treated as income received on the following date, that is to say—
(a) in the case of a payment in commutation of annual or other periodical payments, the date on which the commutation is effected;
(b) in the case of any other payment, the date of the termination or change in respect of which the payment is made,
num: 9
paragraphs: —(1) Tax shall not be charged by virtue of the last foregoing section in respect of the following payments, that is to say—
(a) any payment made in connection with the termination of the holding of an office or employment by the death of the holder, or made on account of injury to or disability of the holder of an office or employment;
(b) any sum chargeable to sur-tax under section 7 of this Act;
(c) a benefit provided in pursuance of any such scheme or agreement as is referred to in section 32 of the Finance Act, 1958 , where the holder of the office or employment was chargeable to tax in respect of sums paid, or treated as paid, with a view to the provision of the benefit;
(d) a benefit paid in pursuance of any such scheme or fund as is described in subsection (1) and subsection (2) of section 33 of the Finance Act, 1958 .
(2) Tax shall not be charged by virtue of the last foregoing section in respect of a payment in respect of an office or employment in which the holder's service included foreign service where—
(a) in the case of a payment of compensation for loss of office, the foreign service comprised the whole of the three years immediately preceding the relevant date (or the whole period of service if less than three years), or
(b) in the case of any other payment, the foreign service comprised either—
(i) in any case, three-quarters of the whole period of service down to the relevant date, or
(ii) where the period of service down to the relevant date exceeded ten years, the whole of the last ten years, or
(iii) where the period of service down to the relevant date exceeded twenty years, one-half of that period, including any ten of the last twenty years.
(3) Tax shall not be charged by virtue of the last foregoing section in respect of a payment of an amount not exceeding three thousand pounds, and in the case of a payment which exceeds that amount shall be charged only in respect of the excess:
Provided that where two or more payments in respect of which tax is chargeable by virtue of that section, or would be so chargeable apart from the foregoing provisions of this subsection, are made to or in respect of the same person in respect of the same office or employment, or in respect of different offices or employments held under the same employer or under associated employers, this subsection shall apply as if those payments were a single payment of an amount equal to that aggregate amount; and the amount of any one payment chargeable to tax shall be ascertained as follows, that is to say—
(a) where the payments are treated as income of different years of assessment, the said sum of three thousand pounds shall be deducted from a payment treated as income of an earlier year before any payment treated as income of a later year; and
(b) subject as aforesaid, the said sum shall be deducted rateably from the payments according to their respective amounts.
num: 10
paragraphs: —(1) In this section—
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paragraphs: —(1) In this section—
“lessor” means a person to whom rent is payable;
“premises” means any lands, tenements or hereditaments in the State;
“rent” means any such payment as is mentioned in paragraph (b) of subsection (1) of section 94 of the Finance Act, 1963 .
num: 12
paragraphs: —(1) Any debentures, debenture stock or other forms of security issued after the passing of this Act by a company to which this section applies shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 2 of the Finance Act, 1924 , and that section shall apply accordingly.
num: 13
paragraphs: —(1) In lieu of the duty of excise imposed by subsection (1) of section 3 of the Finance Act, 1962 , there shall be charged, levied and paid on all beer brewed within the State on or after the 15th day of April, 1964, a duty of excise at the rate of thirteen pounds, six shillings and ninepence for every thirty-six gallons of worts of a specific gravity of one thousand and fifty-five degrees.
(2) In lieu of the duty of customs imposed by subsection (2) of section 3 of the Finance Act, 1962 , there shall, as on and from the 15th day of April, 1964, be charged, levied and paid, on mum, spruce or black beer, Berlin white beer, and other preparations (whether fermented or not fermented) of a similar character imported into the State, a duty of customs at the following rates:
(a) for every thirty-six gallons of beer of which the worts are, or were before fermentation, of a specific gravity not exceeding one thousand, two hundred and fifteen degrees—fifty-three pounds, nine shillings;
(b) for every thirty-six gallons of beer of which the worts are, or were before fermentation, of a specific gravity exceeding one thousand, two hundred and fifteen degrees—sixty-two pounds, twelve shillings.
(3) In lieu of the duty of customs imposed by subsection (3) of section 3 of the Finance Act, 1962 , there shall, as on and from the 15th day of April, 1964, be charged, levied and paid on all beer of any description (other than beer chargeable with the duty imposed by subsection (2) of this section) imported into the State, a duty of customs at the rate of thirteen pounds, seven shillings and threepence for every thirty-six gallons of beer of which the worts were before fermentation of a specific gravity of one thousand and fifty-five degrees.
(4) There shall be allowed and paid on the exportation as merchandise or the shipment for use as stores of beer on which it is shown, to the satisfaction of the Revenue Commissioners, that the duty imposed by subsection (1), subsection (2) or subsection (3) of this section has been paid, a drawback calculated according to the original specific gravity of the beer, at the rate of thirteen pounds, seven shillings on every thirty-six gallons of beer of which the original specific gravity was one thousand and fifty-five degrees.
(5) Where, in the case of beer which is chargeable with the duty imposed by subsection (1) or subsection (3) of this section or in the case of beer on which drawback under subsection (4) of this section is payable, the specific gravity of the beer is not one thousand and fifty-five degrees, the duty or drawback shall be varied proportionately.
(6) Section 24 of the Finance Act, 1933 , shall not apply or have effect in relation to either of the duties of customs to which this section refers.
num: 14
paragraphs: —(1) The Finance Act, 1920 , as amended by section 4 of the Finance Act, 1962 , shall, as on and from the 15th day of April, 1964, be amended by the substitution in Part I of the First Schedule to the said Finance Act, 1920 , of the matter set out in the Second Schedule to this Act for the matter inserted therein by the said section 4, and subsection (1) of section 3 of the said Finance Act, 1920 , shall have effect accordingly.
(2) Nothing in this section shall operate to relieve from or to prejudice or affect the additional customs duties in respect of immature spirits imposed by section 9 of the Finance Act, 1926 .
num: 15
paragraphs: —(1) This section applies to spirits known as whiskey which at importation are shown to the satisfaction of the Revenue Commissioners to have been wholly manufactured in Northern Ireland and to have been bottled and consigned by the distiller.
(2) The customs duty on spirits mentioned in the last foregoing section shall, as on and from the day after the day on which this Act is passed, be charged, levied and paid on spirits to which this section applies at the rate of nine pounds, eleven shillings and sevenpence for every gallon computed at proof in lieu of the rate chargeable under the last foregoing section.
num: 16
paragraphs: —(1) In this section—
“the Act of 1935” means the Finance Act, 1935 ;
“the (No. 69) Order” means the Imposition of Duties (No. 69) (Hydrocarbon Oils) (Excise Duties) Order, 1959 ;
“the (No. 84) Order” means the Imposition of Duties (No. 84) (Hydrocarbon Oils) (Customs Duties) Order, 1959 .
(2) The duty of customs imposed by section 1 of the Finance (Customs Duties) (No. 4) Act, 1931 , as amended by subsequent enactments, shall, in respect of mineral hydrocarbon light oil chargeable with that duty, be charged, levied and paid as on and from the 15th day of April, 1964, at the rate of 3s. 1 ⅙d. the gallon in lieu of the rate specified in paragraph 3 of the (No. 84) Order.
(3) The duty of excise imposed by section 1 of the Finance (Miscellaneous Provisions) Act, 1935 , as amended by subsequent enactments, shall, in respect of mineral hydrocarbon light oil chargeable with that duty which is sent out, on or for sale or otherwise, from the premises of the manufacturer thereof on or after the 15th day of April, 1964, or is used by such manufacturer on or after that date for any purpose other than the manufacture or production of mineral hydrocarbon oil, be charged, levied and paid at the rate of 3s. 01/6d. the gallon in lieu of the rate specified in paragraph 2 of the (No. 69) Order.
(4) The duty of customs imposed by section 21 of the Act of 1935 shall, in respect of hydrocarbon oil chargeable with that duty, be charged, levied and paid, as on and from the 15th day of April, 1964, at the rate of 2s. 5 11/12 d. the gallon in lieu of the rate now chargeable by virtue of paragraph 4 of the (No. 84) Order.
(5) As on and from the 15th day of April, 1964, the rate of any rebate allowed under subsection (2) of section 21 of the Act of 1935 shall—
(a) in respect of hydrocarbon oil on which such rebate is allowable and on which the duty of customs mentioned in subsection (4) of this section was paid at the rate of 2s. 5 11/12d the gallon, be 2s. 5 11/12d. the gallon, and
(b) in respect of hydrocarbon oil on which such rebate is allowable and on which the duty of customs mentioned in subsection (4) of this section was, by virtue of paragraph 6 of the (No. 84) Order, paid at the rate of 2s. 4 11/12d the gallon, be 2s. 4 11/12 d. the gallon,
in lieu of the rate allowable immediately before the 15th day of April, 1964, by virtue of subsection (2) of section 18 of the Finance Act, 1960 .
(6) The duty of excise imposed by section 21 of the Act of 1935 shall, in respect of hydrocarbon oil chargeable with that duty which is sent out, on or for sale or otherwise, from the premises of the manufacturer thereof on or after the 15th day of April, 1964, or is used by such manufacturer on or after that date for any purpose other than the manufacture or production of hydrocarbon oil, be charged, levied and paid at the rate of 2s. 4 11/12d. the gallon in lieu of the rate now chargeable by virtue of paragraph 3 of the (No. 69) Order.
(7) As on and from the 15th day of April, 1964, the rate of any rebate allowed under subsection (4) of section 21 of the Act of 1935, in respect of hydrocarbon oil on which such rebate is allowable and on which the excise duty mentioned in subsection (6) of this section was paid at the rate of 2s. 4 11/12d. the gallon, shall be 2s. 4 11/12d. the gallon in lieu of the rate allowable immediately before the 15th day of April, 1964, by virtue of subsection (3) of section 18 of the Finance Act, 1960 .
(8) As on and from the 15th day of April, 1964, the rate of any repayment allowed under subsection (8) of section 10 of the Finance Act, 1957 , in respect of hydrocarbon oil on which such repayment is allowable and on which either—
(a) the excise duty mentioned in subsection (6) of this section was paid at the rate of 2s. 4 11/12d. the gallon, or
(b) the customs duty mentioned in subsection (4) of this section was paid at the rate of 2s. 4 11/12 d. the gallon or 2s. 5 11/12 d. the gallon,
shall be 9d. the gallon in lieu of the rate allowable immediately before the 15th day of April, 1964.
num: 17
paragraphs: —(1) The duty of customs on tobacco imposed by section 20 of the Finance Act, 1932 , shall, as on and from the 15th day of April, 1964, be charged, levied and paid at the several rates specified in Part I of the Third Schedule to this Act in lieu of the several rates at which the said duty is now chargeable by virtue of subsection (6) of section 5 of the Finance Act, 1962 .
num: 18
paragraphs: —(1) In this section “firearm certificate” means a firearm certificate granted under the Firearms Acts, 1925 and 1964.
num: 19
paragraphs: —(1) Subsection (4) of section 8 of the Finance Act, 1942 , is hereby amended—
(i) by the deletion of “against the owner of a motor vehicle”,
(ii) by the substitution for “the said”, where those words occur firstly, of “a”, and
(iii) by the substitution for “the said owner of the said motor vehicle” of “(i) either the owner of the said vehicle or, if a person other than the owner was at the time at which it is alleged that the offence was committed entitled to possession of the said motor vehicle, the person so entitled and (ii) if a person other than the owner or the person entitled as aforesaid was at the time at which it is alleged that the offence was committed in charge of the said motor vehicle, the person so in charge”.
(2) Subsection (5) of section 20 of the Finance Act, 1960 , is hereby amended—
(i) by the deletion of “and (c) the defendant is the owner of the vehicle,” and
(ii) by the substitution for “such owner” of “(i) either the owner of the vehicle or, if a person other than the owner was at the time at which it is alleged that the offence was committed entitled to possession of the vehicle, the person so entitled and (ii) if a person other than the owner or the person entitled as aforesaid was at the time at which it is alleged that the offence was committed in charge of the vehicle, the person so in charge”.
num: 20
paragraphs: —(1) The provisions of this section shall have effect in relation to samples of hydrocarbon oil taken under section 21 of the Finance Act, 1935 , or under any regulations made under that section.
(2) The result of an analysis of such a sample shall not be admissible on behalf of the prosecution in any proceedings under section 21 of the Finance Act, 1935 , unless the analysis was made by an authorised analyst.
(3) In any such proceedings as are mentioned in the foregoing subsection—
(a) a certificate purporting to be signed by an authorised analyst may be tendered in evidence without proof,
(b) where such a certificate is so tendered—
(i) it shall be deemed until the contrary is proved to have been signed by an authorised analyst,
(ii) it shall be evidence until the contrary is proved of the facts stated therein,
(iii) subject to the next subparagraph, it shall not be necessary for the person who signed it to attend or give viva voce evidence,
(iv) if any statement contained in it is disputed by the defendant, the Judge or Justice shall, at the request of the prosecution, give a reasonable opportunity, by adjournment of the hearing or otherwise, for the person by whom the analysis was made to attend and give viva voce evidence.
(4) In this section “authorised analyst” means the State Chemist or a person acting under his direction.
num: 21
paragraphs: —(1) Section 1 of the Finance (Excise Duties) (Vehicles) Act, 1952 , is hereby amended by the insertion after subsection (7) of the following subsection:
“(7A) Duty under this section shall not be charged or levied in respect of any vehicle by reason of its use by the council of a county, the corporation of a county or other borough or the council of an urban district (including use by any such body on being taken by them on hire) for spreading material on public roads to deal with frost, ice or snow, or for clearing snow from public roads by means of a snow plough or other contrivance, whether forming part of the vehicle or not, or by reason of its use for the purpose of going to or from the place where used for the foregoing purposes.”
(2) Section 2 of the Finance (Excise Duties) (Vehicles) Act, 1952 , is hereby amended by the insertion after subsection (1) of the following subsections:
“(1A) Where, but for this subsection, duty would become and be chargeable on a vehicle at a higher rate by reason of its use by the council of a county, the corporation of a county or other borough or the council of an urban district (including use by any such body on being taken by them on hire) for spreading material on public roads to deal with frost, ice or snow, or for clearing snow from public roads by means of a snow plough or other contrivance, whether forming part of the vehicle or not, or by reason of its use for the purpose of going to or from the place where used for the foregoing purposes, duty shall not become or be chargeable at that higher rate.
num: 22
paragraphs: —(1) Section 12 of the Finance Act, 1951 , is hereby amended by the addition at the end of subsection (2) of “or, in a case in which an interest in property limited to cease on a death (including an interest in property subject to a limitation (in whatsoever form) having the effect of providing in the alternative for the cesser of such interest on a death or on the occurrence of some event or expiration of some period before such death) has, after it has become an interest in possession, determined (whether by surrender, divesting, forfeiture or any other means except the expiration of a fixed term at the expiration whereof such interest was limited to cease), such as to operate by reference to persons in whose beneficial ownership the relevant securities are or were immediately before the date on which such interest determined.”
(2) Section 34 of the Finance Act, 1956 , is hereby amended by the addition at the end of subsection (3) of “or, in a case in which an interest in property limited to cease on a death (including an interest in property subject to a limitation (in whatsoever form) having the effect of providing in the alternative for the cesser of such interest on a death or on the occurrence of some event or expiration of some period before such death) has, after it has become an interest in possession, determined (whether by surrender, divesting, forfeiture or any other means except the expiration of a fixed term at the expiration whereof such interest was limited to cease), such as to operate by reference to persons beneficially owning the stocks or other securities immediately before the date on which such interest determined”.
(3) The foregoing provisions of this section shall not operate to prevent the grant of any exemption which would be lawful if those provisions were disregarded.
num: 23
paragraphs: —(1) An instrument referred to under any of the following headings in the First Schedule to the Stamp Act, 1891, shall be exempt from all stamp duties—
(a) Letter of Allotment and Letter of Renunciation, or any other document having the effect of a letter of allotment.
(b) Scrip Certificate, Scrip, or other document.
(c) Letter or Power of Attorney, and Commission, Factory, Mandate, or other instrument in the nature thereof.
(d) Notarial Act.
(e) Protest of any bill of exchange or promissory note.
(f) Voting Paper.
(2) This section shall come into operation on the 1st day of August, 1964, or the date of the passing of this Act, whichever is the later.
num: 24
paragraphs: —(1) The Revenue Commissioners may, if they in their discretion so think proper, enter into an agreement with any body corporate to which this section applies for the composition, in accordance with the following provisions of this section, of the stamp duty chargeable under the heading “Bill of Exchange or Promissory Note” in the First Schedule to the Stamp Act, 1891, on instruments drawn by the body corporate on their banker on forms provided by themselves.
(2) Any such agreement shall be in such form and on such terms and shall contain such conditions as the Revenue Commissioners think proper and, in particular, the agreement shall require the body corporate to deliver to the Revenue Commissioners periodical accounts in respect of the instruments to which it relates giving particulars of those instruments.
(3) While any such agreement remains in force, any instrument to which it relates and which bears such indication of the payment of stamp duty as the Revenue Commissioners may require shall not be chargeable with stamp duty, but, in lieu thereof and by way of composition, the body corporate who have entered into the agreement shall pay to the Revenue Commissioners, on the delivery of any account under the agreement, such sums as would, but for the provisions of this section, have been chargeable by way of stamp duty on instruments to which the agreement relates drawn during the period to which the account relates.
(4) Where the body corporate concerned make default in delivering any account required by any such agreement or in paying the duty payable on the delivery of any such account, they shall be liable to a fine not exceeding fifty pounds for any day during which the default continues and shall also be liable to pay, in addition to the duty, interest thereon, which shall be recoverable in the same manner as if it were part thereof, at the rate of five per cent, per annum from the date when the default begins.
(5) This section applies to every body corporate incorporated in the State other than a company as defined in section 2 of the Companies Act, 1963 .
(6) Any agreement which was entered into under section 45 (repealed by this Act) of the Finance Act, 1963 , and which was in force immediately before the passing of this Act shall have effect after such passing as if it had been entered into under this section.
num: 25
paragraphs: —(1) Subject to the provisions of this section, where the company carrying on a business has, in any accounting period ending on or after the 1st day of January, 1962, sustained a loss in the business (to be computed in like manner as profits arising in an accounting period are computed for the purpose of corporation profits tax), the company may claim that the loss, in so far as it is not otherwise taken into account so as to reduce or relieve any charge to corporation profits tax, shall be carried forward and, as far as may be, deducted from or set off against the profits arising from the business in the next accounting period and, if and so far as it exceeds the profits so arising in that period, against the profits so arising in the next accounting period, and so on.
(2) Where, of an accounting period in which a loss has been sustained, part is before and part after the beginning of the 1st day of January, 1962, the loss shall be apportioned between the period up to and the period beginning on that date in proportion to the respective lengths of those periods, and so much of the loss as is apportioned to the period up to that date shall be disregarded for the purposes of subsection (1) of this section.
(3) In this section “business” means any trade or business or any undertaking of a similar character the profits whereof are profits to which Part V of the Finance Act, 1920 , applies.
(4) The purposes imported by the reference in subsection (3) of section 53 of the Finance Act, 1920 , to the purposes of Part V of that Act shall, notwithstanding subsection (5) of section 35 of this Act, not include the purposes of the foregoing subsections of this section.
num: 26
paragraphs: —(1) With effect as on and from the 1st day of January, 1964, subsection (3) of section 52 of the Finance Act, 1920 , shall be construed and have effect as if, in the definition of the word “company” contained in that subsection, the words “nor a private company the liability of whose members is unlimited” were omitted.
(2) For the purpose of giving effect to subsection (1) of this section, where part of an accounting period is before and part after the beginning of the 1st day of January, 1964, the total profits of the accounting period shall be apportioned between the period up to and the period beginning on that date in proportion to the respective lengths of those periods, and corporation profits tax shall be charged only on so much of the profits as are apportioned to the period beginning on that date, and that period shall be deemed to be an accounting period.
num: 27
paragraphs: —In respect of every accounting period ending after the 31st day of December, 1963, proviso (c) to subsection (2) of section 53 of the Finance Act, 1920 , and subsection (4) of section 36 of the Finance Act, 1941 , shall be construed and have effect as if for the words “one thousand five hundred pounds” there were substituted the words “two thousand five hundred pounds”.
num: 28
paragraphs: —(1) Assessments to corporation profits tax shall, notwithstanding subsection (1) of section 56 of the Finance Act, 1920 , and subsection (1) of section 24 of the Finance Act, 1946 , be made by inspectors of taxes and the tax shall be collected by the Collector-General.
(2) Accordingly—
(a) after assessments to corporation profits tax have been made, the inspectors of taxes shall transmit particulars of the sums to be collected to the Collector-General and he shall collect and levy those sums,
(b) references to the Revenue Commissioners in subsection (3) of section 54 , subsection (1) of section 55 and subsection (6) of section 56 of the Finance Act, 1920 , shall be construed as references to an inspector of taxes,
(c) “or corporation profits tax” shall be inserted in paragraph (a) of subsection (5) of section 54 of the Finance Act, 1958 , after “income tax or sur-tax”,
(d) the reference to the Accountant General of Revenue in subsection (6) of section 14 of the Finance Act, 1962 , shall be construed as a reference to the Collector-General.
(3) The words “by the Commissioners” in subsection (2) of section 55 of the Finance Act, 1920 , and subsection (7) of section 54 of the Finance Act, 1958 , shall cease to have effect.
num: 29
paragraphs: —(1) In this section—
“the principal section” means section 22 of the Finance Act, 1950 ;
“the 1963 amending section” means section 97 of the Finance Act, 1963 ;
“the fourteenth additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;
“the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.
(2) Subsection (4) of the 1963 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1965, have effect with the substitution of “£1,384,304” for “£1,431,786”.
(3) Subsection (6) of the 1963 amending section shall have effect with the substitution of “£878,204” for “£926,179”.
(4) A sum of £1,588,036 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of March, 1965.
(5) The fourteenth additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.
(6) Any amount of the fourteenth additional annuity, not exceeding £1,027,246 in any financial year, may be applied towards defraying the interest on the public debt.
(7) The balance of the fourteenth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.
num: 30
paragraphs: —(1) Where, whether before or after the passing of this Act—
(a) a company, in compliance with a requirement under section 23 of the Pigs and Bacon (Amendment) Act, 1961 , sells bacon to the Pigs and Bacon Commission, and
(b) the bacon is exported out of the State by or on behalf of the Commission,
Part III of the Finance (Miscellaneous Provisions) Act, 1956 , shall apply as if the bacon had been exported out of the State by the company, and any amount receivable by the company from the sale of the bacon to the Commission shall be deemed for the purposes of that Part of that Act to be an amount receivable from the sale of goods so exported.
(2) Where, whether before or after the passing of this Act—
(a) by virtue of an order under section 57 of the Dairy Produce Marketing Act, 1961 , a company which manufactures a milk product within the meaning of that Act other than butter—
(i) is totally prohibited from exporting the product, or
(ii) is prohibited from exporting the product to any specified country or countries,
(b) the product is sold by the company to An Bord Bainne (hereafter in this subsection referred to as the Board), and
(c) in a case in which subparagraph (i) of paragraph (a) of this subsection applies, the product is exported by the Board or, in a case in which subparagraph (ii) of that paragraph applies, the product is exported by the Board to the specified country or any of the specified countries, Part III of the Finance (Miscellaneous Provisions) Act, 1956 , shall apply as if the product had been exported out of the State by the company, and any amount receivable by the company from the sale of the product to the Board shall be deemed for the purposes of that Part of that Act to be an amount receivable from the sale of goods so exported.
(3) For the purposes of subsection (2) of this section, exportation shall be deemed not to be prohibited unless the Minister for Agriculture certifies that he is not prepared to license it.
num: 31
paragraphs: —(1) Where, in a case in which notice of appeal has been given against an assessment to income tax, sur-tax or corporation profits tax, the appellant and an inspector of taxes, or other officer of the Revenue Commissioners, come to an agreement as to the amount of tax charged by the assessment which should be paid notwithstanding the appeal, that amount shall be collected, paid and carry interest in all respects as if it were tax charged by an assessment in respect of which no appeal was pending and, on the determination of the appeal, any balance of tax chargeable in accordance with the determination shall be payable or any tax overpaid shall be repaid, as the case may require.
(2) The reference in subsection (1) of this section to an agreement being come to with an appellant includes a reference to an agreement being come to with a person acting on behalf of the appellant in relation to the appeal.
num: 32
paragraphs: — Section 34 of the Finance Act, 1956 , is hereby amended by the insertion at the end of subsection (1) of “or of section 12 of the Finance Act, 1964”.
num: 33
paragraphs: —(1) (a) The enactment specified in column (2) of Part I of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.
(b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 6th day of April, 1964.
num: 34
paragraphs: —All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.
num: 35
paragraphs: —(1) This Act may be cited as the Finance Act, 1964.