Finance Act 2011
Acts of the Oireachtas
Source: Acts of the Oireachtas

num: 1
paragraphs: — In this Part “Principal Act” means the Taxes Consolidation Act 1997 .
num: 2
paragraphs: — The Principal Act is amended in Part 18A by inserting the following after section 531N:
“Cessation of charge to income levy.
531NA.— Subject to section 531AY, income levy shall cease to be charged, in accordance with this Part, for the year of assessment 2011 and subsequent years of assessment.”.
num: 3
paragraphs: — (1) The Principal Act is amended—
(a) by inserting the following Part after Part 18C:
“PART 18D
Universal Social Charge
Definitions (Part 18D).
531AL.— In this Part—
‘aggregate income for the tax year’, in relation to an individual and a tax year, means the aggregate of the individual’s—
(a) relevant emoluments in the tax year, including relevant emoluments that are paid in whole or in part for a tax year other than the tax year during which the payment is made, and
(b) relevant income for the tax year;
‘Collector-General’ means the Collector-General appointed under section 851;
‘employee’ and ‘employer’ have the same meanings as in section 983;
‘excluded emoluments’ means emoluments which have been gifted to the Minister for Finance under section 483;
‘income levy’ has the meaning assigned to it by section 531B;
‘income tax month’ means a calendar month;
‘inspector’ means an inspector of taxes or other officer of the Revenue Commissioners;
‘PAYE Regulations’ means the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 );
‘relevant emoluments’ and ‘relevant income’ shall be construed in accordance with paragraphs (a) and (b), respectively, of the Table to section 531AM(1);
‘similar type payments’ means payments which are of a similar character to social welfare payments but which are made by—
(a) the Health Service Executive,
(b) the Department of Community, Equality and Gaeltacht Affairs,
(c) the Department of Enterprise, Trade and Innovation,
(d) the Department of Education and Skills,
(e) the Department of Agriculture, Fisheries and Food,
(f) An Foras Ã?iseanna Saothair, in respect of schemes mentioned in clauses (I), (II) and (III) of section 472A(1)(b)(i), or
(g) any other state or territory;
‘social welfare payments’ means payments made under the Social Welfare Acts;
‘tax year’ means a year of assessment within the meaning of the Tax Acts;
‘universal social charge’ has the meaning assigned to it by section 531AM.
Charge to universal social charge.
531AM.— (1) With effect from 1 January 2011, there shall be charged, levied and paid, in accordance with the provisions of this Part, a tax to be known as ‘universal social charge’ in respect of the income specified in paragraphs (a) and (b) of the Table to this subsection.
TABLE
(a) The income described in this paragraph (in this Part referred to as ‘relevant emoluments’) is emoluments to which Chapter 4 of Part 42 applies or is applied, including—
(i) any allowable contributions referred to in Regulations 41 and 42 of the PAYE Regulations,
(ii) the initial market value (within the meaning of section 510(2)) of any shares, excluded from the charge to income tax by virtue of section 510(4), appropriated in accordance with Chapter 1 of Part 17,
(iii) the market value (determined in accordance with section 548) of the right referred to in section 519A(1) or 519D(1), and
(iv) any gain exempted from income tax by virtue of section 519A(3) or 519D(3),
but not including—
(I) social welfare payments and similar type payments,
(II) excluded emoluments,
(III) emoluments disregarded by an employer on the direction of an inspector in accordance with Regulation 10(3) of the PAYE Regulations,
num: 4
paragraphs: — As respects the year of assessment 2011 and subsequent years of assessment, section 15 of the Principal Act is amended—
(a) in subsection (3)(i) by substituting “€23,800” for “€27,400”, and
(b) by substituting the following Table for the Table to that section:
“TABLE
PART 1
Part of taxable income
Rate of tax
Description of rate
(1)
(2)
(3)
The first €32,800
20 per cent
the standard rate
The remainder
41 per cent
the higher rate
PART 2
Part of taxable income
Rate of tax
Description of rate
(1)
(2)
(3)
The first €36,800
20 per cent
the standard rate
The remainder
41 per cent
the higher rate
PART 3
Part of taxable income
Rate of tax
Description of rate
(1)
(2)
(3)
The first €41,800
20 per cent
the standard rate
The remainder
41 per cent
the higher rate
”.
num: 5
paragraphs: — As respects the year of assessment 2011 and subsequent years of assessment, section 188 of the Principal Act is amended—
(a) in subsection (2)(a) by substituting “€36,000” for “€40,000” (inserted by the Finance Act 2008 ), and
(b) in subsection (2)(b) by substituting “€18,000” for “€20,000” (inserted by the Finance Act 2008 ).
num: 6
paragraphs: — (1) Where an individual is entitled under a provision of the Principal Act mentioned in column (1) of the Table to this subsection to have the income tax to be charged on the individual, other than in accordance with the provisions of section 16(2) of the Principal Act, reduced for the year of assessment 2011 and any subsequent year of assessment and the amount of the reduction would, but for this section, be an amount which is the lesser of—
(a) the amount specified in column (2) of that Table, and
(b) the amount which reduces that liability to nil,
the amount of the reduction in accordance with paragraph (a) shall be the amount of the tax credit specified in column (3) of the Table.
TABLE
Statutory Provision
Existing tax credit
Tax credit for the year 2011 and subsequent years
(1)
(2)
(3)
Section 461
(basic personal tax credit)
(married person)
€3,660
€3,300
(widowed person bereaved in year of assessment)
€3,660
€3,300
(single person)
€1,830
€1,650
Section 461A
(additional tax credit for certain widowed persons)
€600
€540
Section 462
(one-parent family tax credit)
€1,830
€1,650
Section 463
(widowed parent tax credit)
(1st year)
€4,000
€3,600
(2nd year)
€3,500
€3,150
(3rd year)
€3,000
€2,700
(4th year)
€2,500
€2,250
(5th year)
€2,000
€1,800
Section 464
(age tax credit)
(married person)
€650
€490
(single person)
€325
€245
Section 465
(incapacitated child tax credit)
€3,660
€3,300
Section 466
(dependant relative tax credit)
€80
€70
Section 466A
(home carer tax credit)
€900
€810
Section 468
(blind person’s tax credit)
(blind person)
€1,830
€1,650
(both spouses blind)
€3,660
€3,300
Section 472
(employee tax credit)
€1,830
€1,650
(2) Section 3 (as amended by the Finance Act 2008 ) of the Finance Act 2002 shall have effect subject to the provisions of this section.
num: 7
paragraphs: — (1) The Principal Act is amended—
(a) in section 118(5E) by inserting the following after paragraph (b):
“(c) This subsection shall not apply as respects the year of assessment 2011 and each subsequent year of assessment.”,
(b) in section 120A by inserting the following after subsection (3):
“(4) This section shall not apply as respects the year of assessment 2011 and each subsequent year of assessment.”,
and
(c) in section 122(1)(a) in the definition of “preferential loan” by substituting “paid” for “payable” in each place.
(2) Subsection (1)(c) shall have effect as on and from 26 January 2011.
num: 8
paragraphs: — (1) The Principal Act is amended in section 201 by inserting the following after subsection (7):
num: 9
paragraphs: — Section 470B of the Principal Act is amended by substituting the following for subsection (4):
“(4) Subject to subsections (5) and (6), where, for a relevant year of assessment, an individual or, if the individual is a married person assessed to tax in accordance with section 1017, the individual’s spouse makes a payment to an authorised insurer under a relevant contract and—
(a) the payment is in respect of a premium due under the relevant contract and the relevant contract was renewed or entered into on or after 1 January 2009 but before 1 January 2012, and
(b) the payment or part of the payment, as the case may be, is attributable to an insured person, and only to an insured person, who is aged 50 years or over on the date the relevant contract is renewed or entered into, as the case may be,
then the individual shall, for the relevant year of assessment, in respect of so much of the relievable amount of the payment or part of the payment, as the case may be, as is attributable to an insured person referred to in paragraph (b), be entitled to a credit (referred to in this section as ‘age-related tax credit’) equal to the lower of—
(i) as respects a relevant contract renewed or entered into on or after 1 January 2009 but before 1 January 2010, the amount specified in column (2) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium,
(ii) as respects a relevant contract renewed or entered into on or after 1 January 2010, the amount specified in column (3) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium,
(iii) as respects a relevant contract renewed or entered into on or after 1 January 2011, the amount specified in column (4) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium, and
(iv) an amount which reduces the income tax to be charged on the individual for the relevant year of assessment, other than in accordance with section 16(2), to nil.
TABLE
Class of Insured Person
Amount of age-related tax credit
Amount of age-related tax credit
Amount of age-related tax credit
(1)
(2)
(3)
(4)
Aged 50 years and over but less than 60 years on the date the relevant contract is renewed or entered into, as the case may be.
€200.00
€200.00
Nil
Aged 60 years and over but less than 70 years on the date the relevant contract is renewed or entered into, as the case may be.
€500.00
€525.00
€625.00
Aged 70 years and over but less than 80 years on the date the relevant contract is renewed or entered into, as the case may be.
€950.00
€975.00
€1,275.00
Aged 80 years and over on the date the relevant contract is renewed or entered into, as the case may be.
€1,175.00
€1,250.00
€1,725.00
”.
num: 10
paragraphs: — The Principal Act is amended—
(a) in section 479 by inserting the following after subsection (8):
“(9) The deduction authorised by subsection (2) shall not be made in respect of eligible shares where those shares are subscribed for on or after 8 December 2010.”,
(b) in section 519D by inserting the following after subsection (7):
“(8) The exemption from income tax authorised by subsection (2) in respect of the receipt of the right referred to in subsection (1) shall not apply where the right is received on or after 24 November 2010.
(9) The exemption from income tax authorised by subsection (3) in respect of any gain realised by the exercise of the right referred to in subsection (1) shall not apply where the gain from the exercise of the right is realised on or after 24 November 2010.”,
(c) in section 985A(1A) by substituting “Subject to subsection (1B), subsection (1)” for “Subsection (1)”, and
(d) in section 985A by inserting the following after subsection (1A):
“(1B) Subsection (1A) shall not apply to shares or stock referred to in that subsection received on or after 1 January 2011.”.
num: 11
paragraphs: — Section 248 of the Principal Act is amended by inserting the following after subsection (5):
“(6) Notwithstanding subsection (5), the deduction authorised by that subsection shall not exceed—
(a) as respects the year of assessment 2011, 75 per cent of the deduction that would but for this subsection be authorised by that subsection,
(b) as respects the year of assessment 2012, 50 per cent of the deduction that would but for this subsection be authorised by that subsection,
(c) as respects the year of assessment 2013, 25 per cent of the deduction that would but for this subsection be authorised by that subsection, and
(d) as respects the year of assessment 2014 and each subsequent year of assessment, zero per cent of the deduction that would but for this subsection be authorised by that subsection.
(7) This section shall not apply to a loan made after 7 December 2010.”.
num: 12
paragraphs: — Section 472C of the Principal Act is amended by inserting the following after subsection (8):
“(9) This section ceases to have effect for the year of assessment 2011 and each subsequent year of assessment.”.
num: 13
paragraphs: — The Principal Act is amended by inserting the following after section 477:
“477A.— (1) In this section—
‘appropriate percentage’, in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year;
‘approved contractor’ means a person who is a registered person and at the time of carrying out the qualifying work has—
(a) a tax clearance certificate issued under section 1095, or
(b) a certificate of authorisation issued under section 531;
‘Authority’ means the Sustainable Energy Authority of Ireland;
‘certificate of payment’, in relation to an individual, means a certificate issued by the Authority certifying that the individual has incurred qualifying expenditure and stating the amount of the qualifying expenditure so incurred;
‘qualifying expenditure’ means expenditure not exceeding the relevant limit incurred on qualifying work carried out by an approved contractor on a qualifying residence;
‘qualifying residence’ means a residential premises situated in the State in respect of which no rent is received or receivable by the individual making a claim under this section other than any rent that forms part of any relevant sums (within the meaning of section 216A) received by the individual in respect of that residential premises;
‘qualifying work’ shall be read in accordance with subsection (2);
‘registered person’ means a person who is registered with, and approved by, the Authority to carry out qualifying work;
‘relevant limit’, in relation to a year of assessment, means—
(a) €10,000 in the case of an individual assessed to tax in accordance with section 1016, or
(b) €15,000 in the case of individuals assessed to tax in accordance with section 1017,
subject in any case to a maximum amount of €15,000 in respect of which relief may be claimed under this section in respect of any one qualifying residence in the year of assessment concerned;
‘rent’ has the same meaning as in Chapter 8 of Part 4;
‘residential premises’ means a building or part of a building used solely or mainly as a dwelling;
‘tax reference number’ has the same meaning as in section 885.
(2) (a) In this subsection ‘energy-efficient works’ means works the purpose of which is to reduce the costs incurred in respect of heating a residential premises.
(b) The Authority shall keep and maintain and make available to the public a list of such energy-efficient works as are, from time to time, determined by the Minister for Finance, in consultation with the Minister for Communications, Energy and Natural Resources, to be energy-efficient works to which relief under this section applies (in this section referred to as ‘qualifying work’).
(3) (a) Where an individual, for the year of assessment 2011 or any subsequent year of assessment, on the making of a claim supported by a certificate of payment, proves that he or she made a payment to an approved contractor in respect of qualifying expenditure, the income tax to be charged on the claimant for that year of assessment, other than in accordance with section 16(2), shall be reduced by an amount which is the lesser of—
(i) the amount equal to the appropriate percentage of the qualifying expenditure,
(ii) the amount equal to the appropriate percentage of the relevant limit, and
(iii) the amount which reduces that income tax to nil.
(b) For the purpose of this section, in the case of an individual assessed to tax for a year of assessment in accordance with section 1017, any payment of qualifying expenditure to an approved contractor made by the individual’s spouse, in respect of which the individual’s spouse would have been entitled to relief under this section if that spouse were assessed to tax for the year of assessment in accordance with section 1016 (apart from subsection (2) of that section), shall be deemed to have been made by the individual.
(c) In all cases relief from income tax consequent on the allowance of qualifying expenditure under this section shall be given by means of repayment.
(4) The Authority shall not issue a certificate of payment in any case where the aggregate of all qualifying expenditure included on certificates of payment previously issued for the year of assessment concerned exceeds €150,000,000.
(5) Notwithstanding subsection (3), a payment to an approved contractor in respect of qualifying expenditure shall not be regarded as having been made in so far as any sum in respect of, or by reference to, the qualifying work to which it relates has been or is to be received directly or indirectly by the individual from the State, from any public or local authority, from any other person or under any contract of insurance or by way of compensation or otherwise.
(6) Notwithstanding subsection (3), where, on the basis of the information furnished to them under section 894A(2) or any other information in their possession, the Revenue Commissioners are satisfied as to the entitlement of an individual to relief under this section then, notwithstanding any other provision of the Income Tax Acts to the contrary, if the Revenue Commissioners consider it appropriate in the circumstances, the relief due may be given to the individual without the making and proving of a claim.
(7) Where relief is given under this section, no relief, deduction or credit under any other provision of the Income Tax Acts shall be given or allowed in respect of the qualifying expenditure.
(8) The following records shall be maintained by the Authority in respect of each individual to whom a certificate of payment is issued:
(a) his or her name and address;
(b) his or her Personal Public Service Number within the meaning of section 262 of the Social Welfare Consolidation Act 2005 ;
(c) the meter point reference number assigned in respect of the qualifying premises concerned;
(d) the amount of qualifying expenditure incurred;
(e) the year in which qualifying expenditure is incurred;
(f) the name and tax reference number of the approved contractor who carried out the qualifying work;
(g) proof that a payment or payments have been made to a qualifying contractor in respect of qualifying work.
(9) This section comes into operation on such day as the Minister for Finance may appoint by order.”.
num: 14
paragraphs: — Section 473 of the Principal Act is amended—
(a) in subsection (1) by substituting the following for the definition of “specified limit”:
“ ‘specified limit’, in relation to an individual for a year of assessment specified in column (1) of the Table to this definition, means—
(a) in the case of—
(i) a married person assessed to tax in accordance with section 1017, or
(ii) a widowed person,
the corresponding amount specified in column (2) of the Table to this definition; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means the corresponding amount specified in column (3) of the Table to this definition, and
(b) in any other case, the corresponding amount specified in column (4) of the Table to this definition; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means the corresponding amount specified in column (5) of the Table to this definition;
TABLE
(1)
(2)
(3)
(4)
(5)
€
€
€
€
2011
3,200
6,400
1,600
3,200
2012
2,400
4,800
1,200
2,400
2013
2,000
3,600
1,000
2,000
2014
1,600
3,200
800
1,600
2015
1,200
2,400
600
1,200
2016
800
1,600
400
800
2017
400
800
200
400
2018
0
0
0
0
”,
and
(b) by inserting the following after subsection (1):
“(1A) (a) This section shall not apply as respects rent paid on or after 8 December 2010.
(b) Notwithstanding paragraph (a), this section shall continue to apply for the year of assessment 2010 and each subsequent year of assessment up to and including the year of assessment 2017 in respect of rent paid by a tenant who on 7 December 2010 is paying rent under a tenancy.”.
num: 15
paragraphs: — Section 473A of the Principal Act is amended for the year of assessment 2011 and each subsequent year of assessment by inserting the following after subsection (4):
“(4A) In any claim or claims for relief under this section made by an individual in respect of qualifying fees, there shall be disregarded for each year of assessment—
(a) the first €2,000 of those fees or the full amount of those fees, whichever is the lesser, where the qualifying fees, or part of the qualifying fees, the subject of the claim or claims concerned relate to a full-time course or full-time courses, or
(b) the first €1,000 of those fees or the full amount of those fees, whichever is the lesser, where all the qualifying fees the subject of the claim or claims concerned relate only to a part-time course or part-time courses.”.
num: 16
paragraphs: — The Principal Act is amended in Chapter 5 of Part 5 by inserting the following section after section 127A:
“127B.— (1) Income arising to any individual, whether resident in the State or not, from any employment exercised aboard an aircraft—
(a) that is operated in international traffic, and
(b) where the aircraft is so operated by an enterprise that has its place of effective management in the State,
num: 17
paragraphs: — Section 195 of the Principal Act is amended in subsection (3)—
(a) in paragraph (a) by substituting “subject to paragraphs (aa) and (b)” for “subject to paragraph (b)”, and
(b) by inserting the following after paragraph (a):
“(aa) The amount of the profits or gains for a year of assessment which an individual shall be entitled to have disregarded for the purposes of the Income Tax Acts by virtue of paragraph (a) shall not exceed €40,000 for the year of assessment 2011 and each subsequent year of assessment.”.
num: 18
paragraphs: — (1) Schedule 13 to the Principal Act is amended—
(a) by deleting paragraphs 132 and 146,
num: 19
paragraphs: — (1) Chapter 1 of Part 30 of the Principal Act is amended—
(a) in section 772(3A) by substituting the following for paragraph (a):
“(a) Subject to paragraph (aa), the Revenue Commissioners shall not approve a retirement benefits scheme for the purposes of this Chapter unless it appears to them that the scheme provides for any individual entitled to a pension under the scheme or, as the case may be, where the pension or part of the pension is payable in accordance with a pension adjustment order, the spouse or former spouse of such an individual to whom the pension or part of the pension is so payable (in this subsection referred to as the ‘relevant individual’), to opt, on or before the date on which that pension would otherwise become payable, for the transfer, on or after that date, to—
(i) the relevant individual, or
(ii) an approved retirement fund,
of an amount equivalent to the amount determined by the formula—
A — B
where—
A is the amount equal to the value of the relevant individual’s accrued rights under the scheme (including accrued rights which relate to additional voluntary contributions under the scheme) exclusive of any lump sum paid in accordance with subsection (3)(f), and
B is the amount or value of assets which the trustees, administrators or other person charged with the management of the scheme (in this section referred to as ‘the trustees’) would, if the assumptions in paragraph (b) were made, be required, in accordance with section 784C, to transfer to an approved minimum retirement fund held in the name of the relevant individual or to apply in purchasing an annuity payable to the relevant individual with effect from the date of the exercise of the option.”,
(b) in section 772(3A) by inserting the following after paragraph (a):
“(aa) In the case of a retirement benefits scheme that is a defined benefit arrangement within the meaning of section 787O(1), paragraph (a) shall, with any necessary modifications, apply in relation to an individual entitled to a pension under the scheme (other than a proprietary director of a company to which the scheme relates) as if—
(i) the reference in that paragraph to any relevant individual entitled to a pension under the scheme were a reference to any individual entitled to a pension under the scheme who is an individual entitled to rights arising from additional voluntary contributions to the scheme, and
(ii) A in the formula in that paragraph was the amount equal to the value of the individual’s accrued rights under the scheme which relate to additional voluntary contributions paid by that individual exclusive of any part of that amount paid by way of a lump sum in accordance with subsection (3)(f) in conjunction with the scheme rules.
(ab) (i) In this paragraph ‘deferred annuity option’ means the option provided to an individual who is a member of a retirement benefits scheme to defer, in accordance with Revenue e-Brief No. 65/08 entitled ‘Deferral of Annuity Purchase’ issued by the Revenue Commissioners on 22 December 2008, the purchase of an annuity from a company carrying on the business of granting annuities on human life.
(ii) An individual entitled to a pension under a retirement benefits scheme approved by the Revenue Commissioners before the date of passing of the Finance Act 2011 who, before that date, has exercised a deferred annuity option may opt in accordance with paragraph (a) within the period of one month from that date, where on or after that date the rules of the scheme are altered to enable such an option.
(iii) For the purposes of this paragraph, where an individual has exercised a deferred annuity option, the purchase of the annuity may be further deferred for a period of one month from the date of passing of the Finance Act 2011.”,
(c) in section 772(3B)(a)(ii) by deleting “and”,
(d) in section 772(3B)(a) by inserting the following after subparagraph (ii):
“(iia) in the case of an individual referred to in subsection (3A)(ab)(ii) (in this paragraph referred to as the ‘first-mentioned individual’)—
(I) the reference in subsection (2)(ii) of section 784C to an amount equivalent to the amount determined by the formula in that subsection were a reference to an amount equal to €63,500,
(II) the reference in subsection (4)(a) of section 784C to specified income per annum of an amount equal to the amount determined by the formula in that subsection were a reference to specified income per annum of €12,700, and
(III) the reference in subsection (6A) of section 784C to the individual were a reference to the first-mentioned individual and the reference in that subsection to the transfer, before the date of passing of the Finance Act 2011, of the amount referred to as B in the formula in section 784(2A) to an approved minimum retirement fund in respect of the individual, were a reference to the transfer, within the period of time referred to in subsection (3A)(ab)(ii), of the amount referred to as B in the formula in subsection (3A)(a) to an approved minimum retirement fund in respect of the first-mentioned individual.”,
and
(e) in section 772(3B)(b) by substituting “other than in the case of an individual referred to in subsection (3A)(aa)” for “in the case of a proprietary director”.
(2) Chapter 2 of Part 30 of the Principal Act is amended—
(a) in section 784A(1BA) by substituting “5” for “3” in the formula in paragraph (c),
(b) in section 784C(2) by substituting the following for paragraph (b):
“(b) apply in the purchase of an annuity payable to the individual,
shall be the lesser of—
(i) the amount referred to as A in that formula, and
(ii) an amount equivalent to the amount determined by the formula—
SPC × 52 × 10
num: 20
paragraphs: — (1) The Principal Act is amended—
(a) in section 520(1), in the definition of “relevant payment”, by substituting the following for paragraph (ii):
“(ii) relevant payments as defined for the purpose of Chapter 2 of this Part,”,
(b) in section 525(6) by substituting “that Chapter” for “section 531(1)”,
(c) in section 530(1) by inserting the following after the definition of “certified subcontractor”:
“ ‘chargeable period’ has the same meaning as in section 321(2);”,
(d) in section 530(1) by inserting the following after the definition of “the contractor”:
“ ‘deducted tax’ has the meaning given to it in section 530P;
‘deduction authorisation’ has the meaning given to it in section 530D;
‘deduction summary’, in relation to a return period, means a statement issued by the Revenue Commissioners to a registered principal setting out, in summary form, the details contained in deduction authorisations issued to that principal during that return period, adjusted, where adjustments are required, in accordance with regulations made under this Chapter, and includes a statement that no such deduction authorisations were issued, where that was the case;”,
(e) in section 530(1) by inserting the following after the definition of “director”:
“ ‘due date’, in relation to a return period, means—
(a) the day that is 14 days after the end of that return period, or
(b) the day that is 23 days after the end of that return period, in a case where the return for that period is made by electronic means in accordance with Chapter 6 of Part 38 and the remittance of the amount of tax that the person was liable to remit to the Collector-General under this Chapter in respect of that period is made by such electronic means as are required by the Revenue Commissioners, if the return and the remittance concerned are made by that day;
‘electronic means’ has the same meaning as in section 917EA(1);”,
(f) in section 530(1) by inserting the following after the definition of “qualifying period”:
“ ‘registered principal’ means a principal included in a register of principals kept and maintained by the Revenue Commissioners for the purposes of this Chapter;”,
(g) in section 530(1) by inserting the following after the definition of “relevant operations”:
“ ‘relevant payment’ means a payment made by a principal to whom section 530A applies in respect of a relevant contract;”,
(h) in the definition of ‘return period’, by inserting “, or where no such period is specified, an income tax month” after “Collector-General”
(i) in section 530(1) by inserting the following after the definition of ‘return period’:
“ ‘Revenue officer’ means any officer of the Revenue Commissioners;”,
(j) in section 530(1) by substituting the following for the definition of “subcontractor”:
“ ‘subcontractor’ means the contractor under a relevant contract where the principal under that contract is a person to whom section 530A applies;”,
(k) by inserting the following after section 530:
“Principal to whom relevant contracts tax applies.
530A.— (1) Subject to subsections (2) and (3), this section applies to a principal who is—
(a) in respect of the whole or any part of a relevant contract, the contractor under another relevant contract,
(b) a person—
(i) carrying on a business that includes the erection of buildings or the development of land (within the meaning of section 639(1)) or the manufacture, treatment or extraction of materials for use, whether used or not, in construction operations,
(ii) carrying on a business of meat processing operations in an establishment approved and inspected in accordance with the European Communities (Fresh Meat) Regulations, 1997 ( S.I. No. 434 of 1997 ) or, as the case may be, the European Communities (Fresh Poultry-meat) Regulations, 1996 ( S.I. No. 3 of 1996 ), or
(iii) carrying on a business that includes the processing (including cutting and preserving) of wood from thinned or felled trees in sawmills or other like premises or the supply of thinned or felled trees for such processing,
(c) a person connected with a company carrying on a business mentioned in paragraph (b),
(d) a local authority, a public utility society (within the meaning of section 2 of the Housing Act 1966 ) or a body referred to in subparagraph (i) or (ii) of section 12(2)(a) of that Act or section 19 or 45 of that Act,
(e) a Minister of the Government,
(f) any board or body established by or under statute or any board or body established by or under royal charter and funded wholly or mainly out of moneys provided by the Oireachtas, or
(g) a person who carries on any gas, water, electricity, hydraulic power, dock, canal or railway undertaking.
(2) A person carrying on a business shall not be deemed to be a person of a kind specified in subsection (1)(b) by reason only of the fact that in the course of that business such person erects buildings or develops land for the use or occupation of such person or employees of such person.
(3) (a) Subject to paragraph (b), a person shall be deemed not to be a principal of a kind specified in subsection (1)(c) where the following conditions are met—
(i) in the performance of a relevant contract, the person makes a payment to a subcontractor solely in connection with construction operations carried out in or on buildings or land to be used or occupied by such person or the employees of such person, and
(ii) the person does not carry on a business of the type mentioned in subsection (1)(b)(i).
(b) Where a person is a principal of a kind specified in subsection (1)(c) by reason of the fact that such person is connected with a company carrying on a business of the type mentioned in subsection (1)(b)(i), paragraph (a) shall apply only where in addition to the conditions specified in that paragraph such person is a company.
Notification of contract by principal.
530B.— (1) Upon entering into a relevant contract, and in a case where subsection (2) applies, a principal to whom section 530A applies shall provide to the Revenue Commissioners—
(a) information in relation to—
(i) the identity of the subcontractor,
(ii) the estimated contract value,
(iii) the estimated contract duration, and
(iv) the location or locations at which relevant operations under the contract are to take place,
and
(b) a declaration stating that the principal is satisfied, if that is the case having regard to guidelines published by the Revenue Commissioners as to the distinction between contracts of employment and relevant contracts, that the named subcontractor is not performing the contract or any part of it as an employee of the principal.
(2) Where a relevant contract was entered into prior to commencement of this section, a principal to whom section 530A applies shall provide the information and declaration referred to in subsection (1) if a payment is outstanding under that contract, or under that contract as amended, on such commencement.
(3) The information and declaration required under subsection (1) shall be provided by electronic means, and the relevant provisions of Chapter 6 of Part 38 shall apply.
(4) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) the type of electronic means by which principals shall communicate with the Revenue Commissioners,
(b) the format of such communication,
(c) the timing of such communication,
(d) the nature of any acknowledgement to be issued by the Revenue Commissioners, and
(e) any other related matters.
Notification of relevant payment by principal.
530C.— (1) Immediately before a principal makes a relevant payment to a subcontractor, the principal shall notify the Revenue Commissioners of his or her intention to make such a payment to the subcontractor and of the amount of that payment.
(2) The notification required under subsection (1) shall be given by electronic means and the relevant provisions of Chapter 6 of Part 38 shall apply.
(3) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) the type of electronic means by which principals shall communicate with the Revenue Commissioners,
(b) the format of such communication,
(c) the timing of such communication,
(d) the details in relation to the subcontractor which are to be supplied by the principal,
(e) the nature of any acknowledgement to be issued by the Revenue Commissioners,
(f) the circumstances in which and the means by which a principal may cancel notification given,
(g) the circumstances in which notification under this section is deemed to be cancelled, and
(h) any other related matters.
Deduction authorisation.
530D.— (1) Where a principal notifies the Revenue Commissioners in accordance with section 530C, the Revenue Commissioners shall issue a deduction authorisation to the principal in respect of the relevant payment to which the notification relates.
(2) A deduction authorisation issued under subsection (1) shall—
(a) specify, in accordance with section 530E, the rate of tax to be deducted from the payment, including, as appropriate, zero, and
(b) authorise the principal concerned to deduct a specified sum of tax or no tax from the relevant payment.
(3) At the end of each return period, the Revenue Commissioners shall issue a deduction summary to each registered principal in respect of that return period.
(4) The Revenue Commissioners shall issue deduction authorisations and deduction summaries by electronic means.
(5) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) the type of electronic means to be used by the Revenue Commissioners,
(b) the format of such communication,
(c) the period of validity of deduction authorisations including circumstances in which they shall be deemed to be cancelled,
(d) the obligations on principals to satisfy themselves that deduction summaries accurately reflect details of all relevant payments made, and tax deducted, in the return period concerned, and
(e) any other related matters.
Rates of tax.
530E.— (1) For the purpose of section 530D(2), the rate of tax—
(a) shall be zero where the Revenue Commissioners have made a determination that the subcontractor is a person to whom section 530G applies,
(b) shall be the standard rate (within the meaning of section 3) in force at the time of payment where the Revenue Commissioners have made a determination that the subcontractor is a person to whom section 530H applies,
(c) shall be 35 per cent where the Revenue Commissioners have made a determination that the subcontractor is a person to whom neither section 530G nor section 530H apply.
(2) Any reference to a determination in subsection (1) is to the most recent determination made by the Revenue Commissioners under section 530I or as determined on appeal in accordance with that section, in respect of the subcontractor concerned.
Obligation on principals to deduct tax.
530F.— (1) A principal to whom a deduction authorisation is issued under section 530D shall deduct tax from the relevant payment concerned only in accordance with the terms of the deduction authorisation.
(2) Subject to subsection (3), a principal to whom section 530A applies who makes a relevant payment to a subcontractor in circumstances other than those referred to in subsection (1) shall—
(a) be liable to pay tax to the Revenue Commissioners at the rate of 35 per cent on the amount of the relevant payment, and
(b) without prejudice to any other penalty to which the principal may be liable and without prejudice to section 1078, be liable to a penalty of €5,000 or the amount of the tax payable under paragraph (a), whichever is the lesser, unless the principal submits the details of the relevant payment in the return required under section 530K for the period concerned, on or before the due date for that return.
(3) (a) Where subsection (2)(a) applies and the principal submits the details of the relevant payment in a return for the relevant return period, the Revenue Commissioners shall establish the amount of tax that would have been due from the principal in respect of that payment had the rate of tax been the rate of tax last notified by the Revenue Commissioners to the subcontractor concerned under section 530I and, notwithstanding subsection (2)(a), the tax due from the principal in respect of that payment by virtue of that subsection shall be the amount so established.
(b) Where paragraph (a) applies, the Revenue Commissioners shall notify the principal of whether any adjustment to his liability for the period arises on account of the application of that paragraph and the Revenue Commissioners may include provision in any regulations made by them under this Chapter to give effect to this subsection.
(4) Where a principal makes a relevant payment to a subcontractor, the principal shall issue a copy of the deduction authorisation in relation to that payment to the subcontractor.
(5) The amount of tax which a principal is liable to deduct under subsection (1) from a relevant payment shall be due and payable by the principal concerned to the Revenue Commissioners in respect of the return period in which the payment is made.
(6) The amount of tax which a principal is liable to pay to the Revenue Commissioners by virtue of subsection (2)(a) shall be due and payable by the principal concerned to the Revenue Commissioners in respect of the return period in which the payment is made.
Zero rate subcontractor.
530G.— (1) Subject to subsections (2) and (3), this section applies to a person in relation to whom the Revenue Commissioners are satisfied that the person—
(a) is or is about to become a subcontractor engaged in the business of carrying out relevant operations,
(b) carries on or will carry on business from a fixed place established in a permanent building and has or will have such equipment, stock and other facilities as in the opinion of the Revenue Commissioners are required for the purposes of the business,
(c) properly and accurately keeps and will keep any business records to which section 886(2) refers and any other records normally kept in connection with such a business,
(d) has throughout the previous 3 years complied with all the obligations imposed by the Tax Acts, the Capital Gains Tax Acts and the Value-Added Tax Acts, in relation to—
(i) the payment or remittance of taxes, interest and penalties,
(ii) the delivery of returns, and
(iii) the supply, on request, of accounts or other information to a Revenue officer,
and
(e) in the case of a person who was resident outside the State at some time during the previous 3 years, has throughout that period complied with all the obligations comparable to those mentioned in paragraphs (c) and (d) imposed by the laws of the country in which that person was resident at any time during that period.
(2) This section does not apply to a person—
(a) engaged in the business of carrying out relevant contracts in partnership unless all persons in that partnership are persons to whom this section applies and unless the partnership business itself has complied with the obligations referred to in subsection (1) and the Revenue Commissioners are satisfied that it will continue to comply with those obligations,
(b) which is a company, unless each director of the company and any person who is either the beneficial owner of, or able, directly or indirectly, to control more than 15 per cent of the ordinary share capital of the company, are persons to which paragraphs (c) and (d) of subsection (1) refer,
(c) who is or was a proprietary director or proprietary employee of a company engaged in the business of carrying out relevant contracts unless the company is a person to whom paragraphs (c) and (d) of subsection (1) refer,
(d) who, for good reason, the Revenue Commissioners consider unlikely to comply in the future with the obligations referred to in paragraph (c) or (d) of subsection (1), or
(e) if relevant operations (being construction operations, forestry operations or meat processing operations, as the case may be) similar to those being carried out or to be carried out by that person were previously, or are being, carried out by another person (in this subsection referred to as the ‘second-mentioned person’), and the second-mentioned person—
(i) is a company connected (within the meaning of section 10 as it applies for the purposes of the Tax Acts) with the first-mentioned person or would have been such a company but for the fact that the company has been wound up or dissolved without being wound up,
(ii) is a company and the first-mentioned person is a partner in a partnership in which—
(I) a partner is or was able, or
(II) where more than one partner is a shareholder, those partners together are or were able,
directly or indirectly, whether with or without a connected person or connected persons (within the meaning of section 10 as it applies for the purposes of the Tax Acts), to control more than 15 per cent of the ordinary share capital of the company, or
(iii) is a partnership and the first-mentioned person is a company in which—
(I) a partner is or was able, or
(II) where more than one partner is a shareholder, those partners together are or were able,
directly or indirectly, whether with or without a connected person or connected persons (within the meaning of section 10 as it applies for the purposes of the Tax Acts), to control more than 15 per cent of the ordinary share capital of the company,
but this paragraph does not apply if the second-mentioned person concerned is a person to whom paragraphs (c) and (d) of subsection (1) refer.
(3) This section also applies to a person who satisfies the Revenue Commissioners that, in all the circumstances, the matter or matters referred to in subsection (1) or (2), which would otherwise cause such person not to be a person to whom this section applies, ought to be disregarded for the purposes of this section.
Standard rate subcontractor.
530H.— (1) Subject to subsection (2), this section applies to a person in relation to whom the Revenue Commissioners are satisfied that the person—
(a) is or is about to become a subcontractor engaged in the business of carrying out relevant operations,
(b) carries on or will carry on business from a fixed place established in a permanent building and has or will have such equipment, stock and other facilities as in the opinion of the Revenue Commissioners are required for the purposes of the business,
(c) properly and accurately keeps and will keep any business records to which section 886(2) refers and any other records normally kept in connection with such a business,
(d) has throughout the previous 3 years complied substantially with the obligations imposed by the Tax Acts, the Capital Gains Tax Acts and the Value-Added Tax Acts,
(e) in the case of a person who was resident outside the State at some time during the previous 3 years, has throughout that period complied with the obligations comparable to those mentioned in paragraph (c) and has throughout that period complied substantially with the obligations comparable to those mentioned in paragraph (d) imposed by the laws of the country in which that person was resident at any time during that period,
(f) has provided to the Revenue Commissioners whatever information is required by them to register the person for tax purposes, and
(g) is not a person to whom section 530G applies.
(2) For the purposes of subsection (1)(d), the Revenue Commissioners may make regulations identifying matters to be taken into account by them, including—
(a) the payment or remittance of taxes, interest and penalties,
(b) the delivery of returns,
(c) the supply, on request, of accounts or other information to a Revenue officer, and
(d) the extent to which any non-compliance is being addressed.
(3) This section does not apply to—
(a) a person engaged in the business of carrying out relevant contracts in partnership unless all persons in that partnership are persons to whom this section applies and unless the partnership business itself has complied with the obligations referred to in subsection (1) and the Revenue Commissioners are satisfied that it will continue to comply with those obligations, or
(b) a person if the Revenue Commissioners form an opinion that deductions from relevant payments at the standard rate of tax for the year of assessment will be insufficient to fully satisfy the income tax liability of the person for that year.
Determination of rates.
530I.— (1) For the purpose of establishing the rate of tax referred to in section 530E(1), the Revenue Commissioners shall, from time to time, determine whether a subcontractor is a person to whom section 530G applies, a person to whom section 530H applies or a person to whom neither section 530G nor 530H applies.
(2) Following a determination under subsection (1), the Revenue Commissioners shall notify the subcontractor of their determination.
(3) (a) On receipt of a notification under subsection (2), a subcontractor who is aggrieved by the determination of the Revenue Commissioners may, by notice in writing given to the Revenue Commissioners within 30 days of the date of the determination, appeal to the Appeal Commissioners.
(b) The Appeal Commissioners shall hear and determine an appeal made to them under this subsection as if it were an appeal against an assessment to income tax and the provisions of the Income Tax Acts relating to such appeals and to the rehearing of an appeal and to the statement of a case for the opinion of the High Court on a point of law shall apply accordingly with any necessary modifications.
(c) Pending the determination of an appeal under this section, the Revenue Commissioners may issue a deduction authorisation under this Chapter and—
(i) nothing in this subsection shall prejudice the validity of any such deduction authorisation issued, and
(ii) the principal concerned shall comply with the terms of any such deduction authorisation.
Register of principals.
530J.— (1) The Revenue Commissioners shall keep and maintain a register of principals for the purposes of this Chapter.
(2) Every principal to whom section 530B applies shall register as a principal with the Revenue Commissioners, unless he or she stands registered under section 531 immediately before the commencement of this section.
(3) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) keeping and maintaining the register,
(b) registration and time for registration,
(c) notification of change in relevant details,
(d) notification of cessation as a principal,
(e) cancellation of registration,
(f) the use of electronic means in connection with the registration process, and
(g) any other related matters.
Return by principal.
530K.— (1) On or before the due date relating to a return period, a principal shall make a return to the Collector-General of all relevant payments made by him or her during that return period and shall specify on that return the amount of his or her tax liability under this Chapter.
(2) (a) For the purposes of subsection (1), where the Revenue Commissioners issue, under section 530D(3), a deduction summary to a principal for a return period, the details on that summary shall, for all the purposes of the Tax Acts, be deemed to be a return made by the principal to the Collector-General of all relevant payments made by the principal during that return period and the amount of tax specified on that summary shall be deemed to be the amount specified by the principal of his or her tax liability under this Chapter.
(b) Paragraph (a) does not apply where the principal amends the details on the deduction summary in accordance with regulations made under this section and submits a return under subsection (1) in accordance with those amended details.
(3) Without prejudice to section 530F, the amount of tax specified in a return made or deemed to have been made under this section shall be due and payable by the principal concerned to the Revenue Commissioners.
(4) A return required under this section, including a return to which section 530M applies, shall be made by electronic means and the relevant provisions of Chapter 6 of Part 38 shall apply.
(5) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) the type of electronic means by which principals shall communicate with the Revenue Commissioners,
(b) the format of such communication,
(c) the circumstances in which and the means by which a principal may accept or reject data contained in the deduction summary for the purposes of submitting the return required by this section,
(d) the circumstances in which and the means by which a transaction may be carried forward into a deduction summary of the subsequent return period,
(e) the obligations of a principal in relation to a payment notified to the Revenue Commissioners under section 530C which the principal no longer intends to make,
(f) the circumstances in which and the means by which a principal is required to add transactions to the return, which are not reflected on the deduction summary, and
(g) any other related matters.
Payment of tax by principal.
530L.— (1) Tax due and payable in accordance with this Chapter shall be paid to the Collector-General not later than the due date relating to the return period concerned.
(2) Where tax is due and payable for a period covering more than one return period by virtue of section 530N, the due date relating to that tax shall be the due date relating to the earliest return period covered by the relevant assessment or return.
(3) A surcharge arising by virtue of section 530M shall be due and payable to the Revenue Commissioners and shall be payable at the same time as the amount of tax to which it relates is payable.
Late returns and amendments.
530M.— (1) Notwithstanding the requirements of section 530K(1), a principal may make or amend the return required by that section after the due date relating to that return.
(2) Without prejudice to section 530F, where a principal makes or amends a return in accordance with subsection (1), then—
(a) the amount of tax specified on that return shall be due and payable by that principal to the Revenue Commissioners, and
(b) that principal shall be subject to a surcharge of €100.
(3) The Revenue Commissioners shall serve notice on the principal of the total amount of tax and surcharge due and payable under this section for the return period or periods concerned.
(4) Where enforcement action for the recovery of tax specified in a return made or deemed made under section 530K has been taken, this section shall not apply until that action has been completed, unless the Revenue Commissioners otherwise direct.
(5) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) the type of electronic means by which principals shall communicate with the Revenue Commissioners,
(b) the format of such communication,
(c) the circumstances in which and the means by which a principal may, as appropriate, accept or reject data contained in the deduction summary for the purposes of submitting the return required by this section,
(d) the circumstances in which and the means by which a transaction may, as appropriate, be carried forward into a deduction summary of the subsequent return period,
(e) the obligations, as appropriate, of a principal in relation to a payment notified to the Revenue Commissioners under section 530C which the principal no longer intends to make,
(f) the circumstances in which and the means by which a principal is required to include transactions in a return,
(g) the format of returns which can be made in a case where a principal is appealing an assessment under section 530N, and
(h) any other related matters.
Assessment by Revenue officer.
530N.— (1) Where, in respect of a return period, a Revenue officer has reason to believe that a principal has not made a return under section 530K or 530M or that the amount of tax due and payable by a principal under this Chapter for a return period was greater than the amount of tax, if any, specified in a return made or deemed to have been made by that principal for that return period, then, without prejudice to any other action which may be taken, the officer may make an assessment in one sum of the total amount of tax which in his or her opinion is due and payable by the principal in respect of that return period.
(2) Without prejudice to section 530F, but subject to subsection (5), the amount of tax specified in an assessment under subsection (1) shall be due and payable to the Revenue Commissioners from the person so assessed.
(3) (a) A Revenue officer may, where he or she considers it necessary, amend an assessment of tax made under subsection (1).
(b) Without prejudice to anything in this Chapter, the provisions of sections 955, 956 and 1048 (including those relating to time limits) shall, with any necessary modifications, apply to the making and amending of an assessment under this section.
(4) (a) Where, in accordance with this section, the Revenue officer makes or amends an assessment, he or she shall give notice to the person assessed showing the total amount of tax due and payable in accordance with the assessment.
(b) Where the person assessed is a registered principal, the Revenue officer shall issue the notice of assessment or of amended assessment by electronic means.
(5) (a) Subject to paragraph (b), where notice is given to a person under subsection (4), the person may, if he or she claims that the total amount of tax assessed is excessive, on giving notice in writing to the Revenue officer within the period of 30 days from the date of the notice, appeal to the Appeal Commissioners.
(b) A person to whom notice is given under subsection (4), shall not be entitled to appeal to the Appeal Commissioners—
(i) in the case of a person who has made a return (including a deemed return) under section 530K or a return under section 530M, until that person has paid the tax and any surcharge due and payable on the basis of his or her return together with the related interest due under section 530Q, and
(ii) in any other case, until the person has made a return under section 530M for the return period concerned and has paid the tax and surcharge due and payable on the basis of that return together with the related interest due under section 530Q.
(c) The provisions of the Tax Acts relating to appeals shall, with any necessary modifications, apply to appeals against assessments made under this section as if those appeals were appeals against an assessment to income tax.
(d) On the determination of an appeal, the tax contained in an assessment or in an amended assessment shall, subject to section 530F, be due and payable by the person assessed to the Revenue Commissioners.
(6) A Revenue officer may make an assessment for a return period or for any number of consecutive return periods and an assessment may be issued before the end of the period to which it relates.
(7) (a) Subject to paragraph (b), where a Revenue officer makes an assessment for a number of consecutive return periods, the person to whom notice is given shall not be entitled to appeal to the Appeal Commissioners until such a time as the person—
(i) makes the return required in respect of each return period covered by the assessment, or
(ii) elects to make one return covering the full period assessed and makes that return,
and subsection (5) shall apply with any necessary modifications.
(b) Where paragraph (a)(ii) applies, a hearing of the Appeal Commissioners shall be in respect of the full period assessed.
(8) The Revenue Commissioners shall make regulations for the purposes of this section and such regulations may provide for—
(a) the issuing of notices of assessment or amended assessment including the means by which such notices shall be issued,
(b) the transmission of information in connection with appeals,
(c) the format and transmission of returns in connection with appeals,
(d) the procedures to apply to give effect to subsection (7), and
(e) any other related matters.
Computation of subcontractor’s profit.
num: 21
paragraphs: — The Principal Act is amended—
(a) in section 864 by substituting the following for subsection (1)(a):
“(a) all claims for exemption or for any allowance, credit or deduction under those Acts,”,
(b) in section 864 by inserting the following after subsection (2):
“(3) Any person who—
(a) makes or delivers to the Revenue Commissioners, or
(b) knowingly or carelessly assists in or induces another to make or deliver to the Revenue Commissioners,
any incorrect account, declaration, information, particulars, return or statement, including by means of approved electronic communications (within the meaning of section 864A), in connection with any claim for exemption or for any allowance, credit, deduction, relief or repayment shall be liable to a penalty of €3,000.”,
(c) in section 864A(1)(c) by inserting “credit,” after “claim for an allowance,”,
(d) in section 864A(1)(d) by inserting “credit,” after “an allowance,” in both places where it occurs,
(e) by substituting the following for section 960:
“Date for payment of income tax other than under self assessment.
num: 960
paragraphs: — (1) Subject to subsection (2), income tax contained in an assessment (other than an assessment made under Part 41) for any year of assessment shall be payable on or before 30 September in that year, except that income tax included in any such assessment for any year of assessment which is made on or after 30 September in that year shall be deemed to be due and payable not later than one month from the date on which the assessment is made.
(2) Where, for a year of assessment, any claim for exemption or for any allowance, credit, deduction, relief or repayment was granted on the basis of an incorrect account, declaration, information, particulars, return or statement or any other form of claim, then income tax contained in an assessment (other than an assessment made under Part 41) for the year of assessment or in a statement sent in accordance with Regulation 37 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 ) for the year of assessment shall be due and payable—
(a) on 1 July in the year of assessment, where the exemption, allowance, credit, deduction, relief or repayment was given in the year of assessment before that date,
(b) on 1 January in the year following the year of assessment, where the exemption, allowance, credit, deduction, relief or repayment was given in the year of assessment but on or after 1 July,
(c) on the date the allowance, credit, deduction, relief or repayment was given, where that date is after the end of the year of assessment.”,
(f) in Chapter 1C of Part 42 by inserting the following after section 960P:
“Recovery of amounts received by a person following the lodgement of an incorrect account, etc.
960Q.— (1) All amounts of money received from the Revenue Commissioners by a person shall be repaid by that person to the Revenue Commissioners where those amounts arose from the making or delivery for any purpose of the Acts of any incorrect account, declaration, information, particulars, return or statement in connection with any claim for exemption or for any allowance, credit, deduction, relief or repayment.
(2) All amounts of money to be repaid to the Revenue Commissioners under subsection (1) shall—
(a) be determined by a Revenue officer,
(b) for the purposes of this Part, be deemed to be amounts of tax which are due and payable to the Revenue Commissioners.
(3) Notwithstanding anything in the Acts, the determination referred to in subsection (2)(a) may be made at any time.
(4) Where any person is aggrieved by a determination made by a Revenue officer under this section, section 949 shall apply to such determination as if it were a determination made on a matter referred to in section 864.
(5) (a) Amounts of tax which, by virtue of subsection (2), are due and payable to the Revenue Commissioners may be included in assessments made by an inspector or other Revenue officer.
(b) Where an assessment is made in accordance with paragraph (a), an inspector or other Revenue officer shall give notice to the person assessed of the assessment made but it shall not be necessary to set out in the notice of assessment any particulars other than particulars as to the amount of tax to be paid by the person assessed.
(6) Notwithstanding anything in the Tax Acts, the assessment referred to in subsection (5) may be made at any time.”,
and
(g) in section 1080 by substituting the following for paragraph (2)(b):
“(b) Subject to this section and section 1081—
(i) any tax charged by any assessment to income tax, and
(ii) any tax contained in a statement sent in accordance with Regulation 37 of the Income Tax (Employments) (Consolidation) Regulations 2001 ( S.I. No. 559 of 2001 ),
shall, notwithstanding any appeal against such assessment or statement, carry interest from the date when, if there were no appeal against the assessment or statement, the tax would become due and payable under section 960 until payment, and the amount of that interest shall be determined in accordance with paragraph (c).”.
num: 22
paragraphs: — (1) The financial resolutions to which this section applies cease to have statutory effect on and from the passing of this Act.
(2) This section applies to the following financial resolutions passed by DÃ¡il Ãireann on 7 December 2010:
(a) Financial Resolution No. 20 (which restricts the way in which relief given under section 372AP of the Taxes Consolidation Act 1997 may be used);
(b) Financial Resolution No. 21 (which restricts and, in certain circumstances, ceases certain capital allowances in respect of property incentives);
(c) Financial Resolution No. 22 (which restricts the way in which certain capital allowances in respect of property incentives may be used).
num: 23
paragraphs: — (1) Part 12 of the Principal Act is amended by inserting the following after Chapter 4:
“Chapter 4A
Limits on certain losses
Interpretation and general (Chapter 4A).
409F.— (1) This Chapter applies notwithstanding any other provision of the Tax Acts.
(2) In this Chapter—
‘active partner’ has the same meaning as in section 409A;
‘active trader’ has the same meaning as in section 409D;
‘area-based capital allowance’ means any allowance made under Chapter 1 of Part 9 as that Chapter is applied—
(a) by section 323, 331, 332, 341, 342, 343, 344, 352, 353, 372C, 372D, 372M, 372N, 372V, 372W, 372AC or 372AD for a chargeable period, or
num: 24
paragraphs: — (1) Section 372AP of the Principal Act is amended—
(a) in subsection (1) by inserting the following after the definition of “relevant cost”:
“ ‘relevant day’ has the same meaning as it does in Chapter 4A of Part 12;”,
(b) in subsection (1) in paragraph (b)(ii) of the definition of “relevant period” by substituting “after the date of such completion,” for “after the date of such completion;”,
(c) in subsection (1) in the definition of “relevant period” by inserting the following after paragraph (b)(ii):
“but in relation to a premises which is not a qualifying premises or a special qualifying premises on a date that is 6 months after the relevant day solely by virtue of not being let on that day under a qualifying lease, the relevant period shall begin on that day and the provisions of this Chapter shall apply accordingly;”,
(d) in subsection (2) by substituting “Subject to subsections (3), (4), (5), (8A), (8B) and (8C),” for “Subject to subsections (3), (4) and (5),”,
(e) in subsection (3) by inserting the following after paragraph (b):
“(c) For the purposes of paragraph (a) and notwithstanding paragraph (b), no deduction shall be given under subsection (2)(a) for any chargeable period which begins after the chargeable period in which the relevant period ends.”,
(f) in subsection (8) by inserting the following after paragraph (b):
“(c) Notwithstanding any other provision of this section, paragraph (a) shall not apply where the event mentioned in subsection (7)(b) occurs on or after the relevant day.”,
and
(g) by inserting the following after subsection (8):
“(8A) Where the relevant period in relation to any qualifying premises or any special qualifying premises ends in any chargeable period ending—
(a) before the relevant day, or
(b) at any other time,
then section 384 shall not apply to the amount of any excess (within the meaning of section 384(2)) in respect of eligible expenditure on that premises which is carried forward from that chargeable period—
(i) where paragraph (a) applies, to the chargeable period in which the relevant day occurs and each subsequent chargeable period, and
(ii) where paragraph (b) applies, to the next subsequent chargeable period and each subsequent chargeable period.
(8B) (a) Where, by virtue of subsection (2), any eligible expenditure to which this section applies falls to be taken into account for any chargeable period in computing, under section 97(1), a deficiency in respect of any rent from a qualifying premises or a special qualifying premises, then, notwithstanding subsection (2), only so much of that eligible expenditure as does not exceed the amount of that rent shall be so taken into account and paragraph (c) is to apply as respects each subsequent chargeable period to any excess of that eligible expenditure over the amount of that rent (referred to in this subsection as ‘excess expenditure’).
(b) Subject to paragraph (c), section 384 shall cease to apply to the amount of any excess (within the meaning of section 384(2)) in respect of eligible expenditure on any qualifying premises or any special qualifying premises which is carried forward from an earlier chargeable period to the chargeable period in which the relevant day occurs.
(c) For the purposes of paragraph (a), but subject to subsection (8A), the amount of any excess (within the meaning of section 384(2)) in respect of eligible expenditure on any qualifying premises or any special qualifying premises which is carried forward from an earlier chargeable period to the chargeable period in which the relevant day occurs, shall be treated as eligible expenditure to which this section applies and which falls to be taken into account for the chargeable period in which the relevant day occurs in computing, under section 97(1), a deficiency in respect of any rent from that qualifying premises or that special qualifying premises.
(d) Section 384 shall cease to apply for any chargeable period beginning on or after the relevant day to the amount of any excess (within the meaning of section 384(2)) in respect of eligible expenditure on any qualifying premises or any special qualifying premises to which this subsection applies.
(e) Where, as respects each chargeable period to which paragraph (a) applies, there is an amount of excess expenditure, that amount shall be treated, for the purposes of subsection (2) and paragraph (a) (including any further application of this subsection), as if it were eligible expenditure to which this section applies which, by virtue of subsection (2), falls to be taken into account for the next succeeding chargeable period in computing, under section 97(1), a surplus or deficiency in respect of any rent from the qualifying premises or the special qualifying premises.
num: 25
paragraphs: — (1) Chapter 2 of Part 23 of the Principal Act is amended—
(a) in section 666(4)(a) by substituting “31 December 2012” for “31 December 2010”,
(b) in section 666(4)(b) by substituting “year 2012” for “year 2010”, and
(c) in section 667B(5)(b) by substituting “31 December 2012” for “31 December 2010”.
(2) Subsection (1) comes into operation on such day or days as the Minister for Finance may by order or orders appoint and different days may be appointed for different purposes or different provisions.
num: 26
paragraphs: — The Principal Act is amended—
(a) in section 141 by inserting the following after subsection (10):
“(11) This section shall not apply to distributions made out of disregarded income on or after 24 November 2010.”,
and
(b) in section 234 by inserting the following after subsection (8):
“(9) This section shall not apply to income from a qualifying patent which is paid to a person on or after 24 November 2010.”.
num: 27
paragraphs: — The Principal Act is amended—
(a) in section 677(1) by inserting “and before 1 January 2011,” after “1974,”, and
(b) in section 678(2) by inserting “and before 1 January 2011,” after “1974,”.
num: 28
paragraphs: — (1) Section 817 of the Principal Act is amended in subsection (1)—
(a) in paragraph (ca) by substituting the following for subparagraph (iii)—
“(iii) notwithstanding paragraph (c), not to have been significantly reduced where the gain realised, or the proceeds in either or both money or money’s worth received, by the shareholder on that disposal is or are wholly or mainly attributable to payments or other transfers of value from another company or companies, which is or are controlled (within the meaning of section 432) by that shareholder or by that shareholder and persons connected with him or her, to the close company, and”,
and
(b) by inserting the following after paragraph (d)—
“(e) For the purposes of this section, the holding of money by a company shall be deemed to be a business carried on by the company, regardless of how that money was contributed to, or acquired by, the company.”.
(2) This section has effect as respects any disposal of shares on or after 26 January 2011.
num: 29
paragraphs: — The Principal Act is amended—
(a) in section 20(1) by substituting “sections 436, 436A, 437, 816(2)(b) and 817” for “436 and 437, and subsection (2)(b) of section 816”,
(b) in section 130(1) by inserting “, 436A” after “sections 436”, and
(c) by inserting the following section after section 436:
“436A.— (1) (a) In this section—
‘member’, in relation to a company, includes a participator in the company other than a loan creditor of the company;
‘relative’ has the same meaning as in section 433(3)(a);
‘relevant settlement’, in relation to a close company, means a settlement made by, or on behalf of, the close company other than a settlement which—
(i) is made expressly for the exclusive benefit of one or more than one person, who is neither a member of the company nor a relative of such a member, and
(ii) does not allow at any time for the possibility of providing any benefit to such member or relative;
‘settlement’ has the same meaning as in section 10 and ‘settled’ shall be read accordingly.
(b) For the purposes of this section, any participator in a company which controls another company shall be treated as being also a participator in that other company.
(2) Where any amount, in money or money’s worth, is settled by, or on behalf of, a close company on or after 21 January 2011 in connection with a relevant settlement, that amount shall, for the purposes of the Tax Acts, be deemed to be a distribution by the company to the trustees of the settlement.
num: 30
paragraphs: — (1) Part 8 of the Principal Act is amended—
(a) in section 256(1) in the definition of “appropriate tax”—
(i) in paragraph (a) by substituting “27 per cent” for “25 per cent”,
(ii) in paragraph (b) by substituting “27 per cent” for “25 per cent”, and
(iii) in paragraph (c) by substituting “30 per cent” for “28 per cent”,
and
(b) in section 267B—
(i) in subsection (2)(b) by substituting “27 per cent” for “25 per cent”, and
(ii) in subsection (3)(b) by substituting “27 per cent” for “25 per cent”.
(2) This section applies to any payment or crediting of relevant interest (within the meaning of Chapter 4 of Part 8 of the Principal Act) made on or after 1 January 2011.
num: 31
paragraphs: — (1) The Principal Act is amended in section 730F(1)—
(a) in paragraph (a) by substituting “30 per cent” for “28 per cent”, and
(b) in paragraph (b) by substituting “(S + 30) per cent” for “(S + 28) per cent”.
(2) The Principal Act is amended in section 730J—
(a) in paragraph (a)(i)(I) by substituting “27 per cent” for “25 per cent”,
(b) in paragraph (a)(i)(II)(A) by substituting “(S + 30) per cent” for “(S + 28) per cent”,
(c) in paragraph (a)(i)(II)(B) by substituting “30 per cent” for “28 per cent”, and
(d) in paragraph (a)(ii)(I) by substituting “(H + 27) per cent” for “(H + 25) per cent”.
(3) The Principal Act is amended in section 730K(1)—
(a) in paragraph (a) by substituting “(S + 30) per cent” for “(S + 28) per cent”, and
(b) in paragraph (b) by substituting “30 per cent” for “28 per cent”.
(4) The Principal Act is amended in Chapter 1A of Part 27—
(a) in the formula in section 739D(5A) by substituting “(G 30)” for “(G 28)”, and
(b) in section 739E(1)—
(i) in paragraph (a) by substituting “27 per cent” for “25 per cent”,
(ii) in paragraph (b) by substituting “30 per cent” for “28 per cent”, and
(iii) in paragraph (ba) by substituting “(S + 30) per cent” for “(S + 28) per cent”.
(5) The Principal Act is amended in Chapter 4 of Part 27—
(a) in section 747D(a)(i)(I)(A) by substituting “(S + 30) per cent” for “(S + 28) per cent”,
(b) in section 747D(a)(i)(I)(B) by substituting “27 per cent” for “25 per cent”,
(c) in section 747D(a)(i)(II)(A) by substituting “(S + 30) per cent” for “(S + 28) per cent”,
(d) in section 747D(a)(i)(II)(B) by substituting “30 per cent” for “28 per cent”,
(e) in section 747D(a)(ii)(I) by substituting “(H + 27) per cent” for “(H + 25) per cent”,
(f) in section 747E(1)(b)(i) by substituting “(S + 30) per cent” for “(S + 28) per cent”, and
(g) in section 747E(1)(b)(ii) by substituting “30 per cent” for “28 per cent”.
(6) (a) Subsection (1) applies and has effect as respects the happening of a chargeable event in relation to a life policy (within the meaning of Chapter 5 of Part 26 of the Principal Act) on or after 1 January 2011.
(b) Subsection (2) applies and has effect as respects the receipt by a person of a payment in respect of a foreign life policy (within the meaning of Chapter 6 of Part 26 of the Principal Act) on or after 1 January 2011.
(c) Subsection (3) applies and has effect as respects the disposal in whole or in part of a foreign life policy (within the meaning of Chapter 6 of Part 26 of the Principal Act) on or after 1 January 2011.
(d) Subsection (4) applies and has effect as respects the happening of a chargeable event in relation to an investment undertaking (within the meaning of section 739B(1) of the Principal Act) on or after 1 January 2011.
(e) Paragraphs (a) to (e) of subsection (5) apply and have effect as respects the receipt by a person of a payment in respect of a material interest in an offshore fund (within the meaning of Chapter 4 of Part 27 of the Principal Act) on or after 1 January 2011.
(f) Paragraphs (f) and (g) of subsection (5) apply and have effect as respects the disposal in whole or in part by a person of a material interest in an offshore fund (within the meaning of Chapter 4 of Part 27 of the Principal Act) on or after 1 January 2011.
num: 32
paragraphs: — (1) The Principal Act is amended in section 481—
(a) in subsection (1) in the definition of “qualifying period” by substituting “31 December 2015” for “31 December 2012”, and
(b) in subsection (8) by substituting “the year of assessment 2015” for “the year of assessment 2012”, and
(c) in subsection (9) by substituting “the year of assessment 2015” for “the year of assessment 2012”.
(2) This section comes into operation on such day as the Minister for Finance may by order appoint.
num: 33
paragraphs: — (1) The Principal Act is amended—
(a) by substituting the following for Part 16:
“PART 16
Income Tax Relief for Investment in Corporate Trades — Employment and Investment Incentive and Seed Capital Scheme
Interpretation (Part 16).
num: 488
paragraphs: — (1) In this Part—
‘associate’ has the same meaning in relation to a person as it has by virtue of subsection (3) of section 433 in relation to a participator, except that the reference in paragraph (b) of that subsection to any relative of a participator shall be excluded from such meaning;
‘average relevant amount’ means the total of the emoluments (other than non-pecuniary emoluments) paid by a qualifying company to the qualifying employees referred to in the definition of employment relevant number, in the year of assessment in which, in relation to a subscription for eligible shares, a relevant period ends, divided by the employment relevant number;
‘average threshold amount’ means the total of the emoluments (other than non-pecuniary emoluments) paid by the qualifying company to the qualifying employees referred to in the definition of employment threshold number, in the year of assessment preceding the year of assessment in which the subscription for eligible shares was made, divided by the employment threshold number;
‘basic pay rate’, in relation to a qualifying employee of a qualifying company, means the employee’s emoluments (other than non-pecuniary emoluments) per hour from the company in respect of an employment held with the company;
‘control’, except in sections 492(7) and 505(2)(b), shall be construed in accordance with subsections (2) to (6) of section 432;
‘debenture’ has the same meaning as in section 2 of the Companies Act 1963 ;
‘director’ shall be construed in accordance with section 433(4);
‘distribution system operator’ has the same meaning as in the Electricity Regulation Act 1999 ;
‘eligible shares’ means new ordinary shares which, throughout the period of 3 years beginning on the date on which they are issued, carry no present or future preferential right to dividends or to a company’s assets on its winding up and no present or future preferential right to be redeemed;
‘emoluments’ has the same meaning as in section 983;
‘employment relevant number’ means the total number of qualifying employees in receipt of emoluments from the qualifying company in the year of assessment in which, in relation to a subscription for eligible shares, a relevant period ends;
‘employment threshold number’ means the total number of qualifying employees in receipt of emoluments from the qualifying company in the year of assessment preceding the year of assessment in which the subscription for eligible shares was made;
‘energy from renewable sources’ means energy from renewable non-fossil sources, that is to say wind, solar, aerothermal, geothermal, hydrothermal and ocean energy, hydropower, biomass, landfill gas, sewage treatment plant gas and biogases and includes the development of any facilities for the storage of energy from renewable sources;
‘expenditure on research and development’ has the same meaning as in section 766;
‘financial activities’ means the provision of, and all matters relating to the provision of, financing or refinancing facilities by any means which involves, or has an effect equivalent to, the extension of credit;
‘financing or refinancing facilities’ includes—
(a) loans, mortgages, leasing, lease rental and hire-purchase, and all similar arrangements,
(b) equity or other investment,
(c) the factoring of debts and the discounting of bills, invoices and promissory notes, and all similar instruments, and
(d) the underwriting of debt instruments and all other kinds of financial securities;
‘financial assets’ includes shares, gilts, bonds, foreign currencies and all kinds of futures, options and currency and interest rate swaps, and similar instruments, including commodity futures and commodity options, invoices and all types of receivables, obligations evidencing debt (including loans and deposits), leases and loan and lease portfolios, bills of exchange, acceptance credits and all other documents of title relating to the movement of goods, commercial paper, promissory notes and all other kinds of negotiable or transferable instruments;
‘full-time employee’ and ‘full-time director’ have the same meanings respectively as in section 250;
‘green energy activities’ means activities undertaken with a view to producing energy from renewable sources;
‘grid connection agreement’ means an agreement with the transmission system operator or distribution system operator, or an offer from the transmission system operator or distribution system operator to enter into an agreement for connection to, or use of, the transmission or distribution system;
‘market value’ shall be construed in accordance with section 548;
‘ordinary shares’ means shares forming part of a company’s ordinary share capital;
‘planning consent’ means any consent, permission or approval required under the Planning and Development Acts 2000 to 2010 before development can be lawfully carried out;
‘qualifying company’ has the meaning assigned to it by section 494;
‘qualifying employee’, in relation to a qualifying company, means an employee (within the meaning of section 983), other than a director, of that company who, throughout his or her period of employment with that company is employed by that company for not less than 4 week days, of each week;
‘qualifying new venture’ means a venture consisting of relevant trading activities which are set up and commenced by a new company other than—
(a) activities which were previously carried on by another person and to which the company has succeeded, or
(b) a venture, the activities of which were previously carried on as part of another person’s trade or profession;
‘relevant employment’, in relation to a specified individual, means employment throughout the relevant period by the company in which the specified individual makes a relevant investment (being that individual’s first such investment in that company) and where the specified individual is a full-time employee or full-time director of the company;
‘relevant investment’, in relation to a specified individual, means the amount or the aggregate of the amounts subscribed in a year of assessment by the specified individual for eligible shares in a qualifying company which carries on or intends to carry on relevant trading activities;
‘relevant period’, in relation to relief in respect of any eligible shares issued by a company, means—
(a) subject to paragraphs (b) and (c), the period beginning on the date on which the shares were issued and ending either 3 years after that date or, where the company was not at that date carrying on relevant trading activities, 3 years after the date on which it subsequently began to carry on such activities,
(b) as respects a relevant employment, the period beginning on the date on which the shares are issued or, if later, the date on which the employment commences and ending 12 months after that date, and
(c) as respects a specified individual, the period beginning on the date on which the shares are issued and ending either one year after that date or, where the company was not at that date carrying on relevant trading activities, one year after the date on which it subsequently began to carry on such activities;
num: 34
paragraphs: — (1) Section 486C of the Principal Act is amended—
(a) in subsection (1)(a) by inserting the following definition before the definition of “Commission Regulation (EC) No. 1998/2006”:
“ ‘associated company’ shall be construed in accordance with section 432;”,
(b) in subsection (1)(a) by inserting the following definitions after the definition of “EEA State”:
“ ‘Employer Job (PRSI) Incentive Scheme’ means the scheme provided for in the Social Welfare (Employers’ Pay-Related Social Insurance Exemption Scheme) Regulations 2010 ( S.I. No. 294 of 2010 );
‘Employers’ Pay-Related Social Insurance’ means the contribution specified in section 13 (2)(d) of the Social Welfare Consolidation Act 2005 ;”,
(c) in subsection (1)(a) by inserting the following definition after the definition of “relevant corporation tax”:
“ ‘relevant limit’ means, subject to subsection (6), €5,000;”,
(d) in subsection (1)(a) by inserting the following definitions after the definition of “relevant period”:
“ ‘specified contribution’, in relation to an employee or director of a company, means, subject to paragraph (c), the lesser of—
(i) the amount of Employers’ Pay-Related Social Insurance paid by the company in an accounting period in respect of that employee or director, or which would have been so paid if relief under the Employer Job (PRSI) Incentive Scheme did not apply, and
(ii) the relevant limit;
‘total contribution’ means the lesser of —
(i) the aggregate amount of specified contributions of a company for an accounting period, and
(ii) the lower relevant maximum amount specified in subsection (5);”,
(e) in subsection (1) by inserting the following after paragraph (b):
“(c) In computing a specified contribution for an accounting period of a company which sets up and commences a qualifying trade in 2011, an amount of Employers’ Pay-Related Social Insurance paid by the company, or which would have been so paid if relief under the Employer Job (PRSI) Incentive Scheme did not apply, within one month after the end of the accounting period may be treated as Employers’ Pay-Related Social Insurance paid by the company in that accounting period and, where such an amount is so treated, it shall not be taken into account in computing a specified contribution for any subsequent accounting period.”,
(f) in subsection (2)(a)—
(i) by substituting “, 2010 or 2011” for “or 2010”,
(ii) in subparagraph (iv) by deleting “or”, and
(iii) in subparagraph (v) by substituting “apply, or” for “apply.”,
(g) in subsection (2)(a) by inserting the following after subparagraph (v):
“(vi) the activities of which, if carried on by an associated company of the new company, would form part of a trade carried on by that associated company.”,
(h) in subsection (4)(a)—
(i) by inserting “the aggregate of” after “then”, and
(ii) by substituting the following for “shall be reduced to nil”:
“shall be reduced by the lesser of—
(I) that aggregate, and
(II) the total contribution for the accounting period”,
(iii) in subsection (4)(b) by substituting the following for “shall be reduced to an amount determined by the following formula:”:
“shall be reduced to the greater of—
(i) that aggregate as reduced by the total contribution for the accounting period, and
(ii) an amount determined by the following formula:”,
and
(i) by substituting the following for subsection (6):
“(6) For an accounting period of less than 12 months—
(a) the relevant limit, and
(b) the relevant maximum amounts specified in subsection (5),
shall be proportionately reduced.”.
(2) Subsection (1) has effect in relation to accounting periods beginning on or after 1 January 2011.
num: 35
paragraphs: — (1) The Principal Act is amended in paragraph 4 of Schedule 24 by inserting the following after subparagraph (5):
“(6) (a) The provisions of subparagraph (5), in relation to the allocation of deductions, shall not apply to relevant trading charges on income.
(b) For the purposes of clause (a) ‘relevant trading charges on income’ has the same meaning as in section 243A.”.
(2) Subsection (1) shall have effect—
(a) for an accounting period of a company for which the return under section 951 of the Principal Act for the purposes of corporation tax is made by the company on or after 7 December 2010, and
(b) for any other accounting period, in relation to any claim to repayment of, or reduction of liability to, corporation tax for that accounting period where such claim is made on or after 7 December 2010.
num: 36
paragraphs: — (1) The Principal Act is amended by inserting the following section after section 840:
“840A.— (1) In this section—
‘asset’ means any asset other than—
(a) an asset that is treated by the provisions of section 291A(2) as machinery or plant for the purposes of Chapters 2 and 4 of Part 9, or
(b) an asset acquired as trading stock;
‘trading stock’ has the same meaning as in section 89.
num: 37
paragraphs: — (1) The Principal Act is amended—
(a) in section 243 by substituting the following for subsection (8):
“(8) Subject to subsection (9), subsection (7) shall not apply to any payment of interest on a loan to a company if—
(a) subject to subsections (2A), (4), (4A) and (4E) of that section, subsection (2) of section 247 applies to the loan, and
(b) the conditions specified in subsection (3) of section 247 are fulfilled.”,
(b) in section 247(1)(a) in the definition of “material interest” by substituting “company;” for “company.”,
(c) in section 247(1)(a) by inserting the following definition after the definition of “material interest”:
“ ‘trading stock’ has the same meaning as in section 89.”,
(d) in section 247(1)(b) by substituting “subsections (4A) and (4E)” for “subsection (4A)”,
(e) in section 247(2) by substituting the following for paragraph (b):
“(b) in lending to a company referred to in paragraph (a) money which is used wholly and exclusively—
(i) where the company is a company which exists wholly or mainly for the purpose of carrying on a trade or trades, for the purposes of that trade or those trades,
num: 38
paragraphs: — Section 285A of the Principal Act is amended in subsection (1) in the definition of “relevant period” by substituting “ending on 31 December 2014” for “ending 3 years after that date”.
num: 39
paragraphs: — Section 221 of the Principal Act is amended by inserting the following after subsection (2):
“(3) This section does not apply to any grant, payment, transfer or transmission of moneys referred to in subsection (2) which is made on or after 1 January 2011.”.
num: 40
paragraphs: — (1) Section 110(1) of the Principal Act is amended—
(a) by inserting the following definitions after the definition of “authorised officer”:
“ ‘carbon offsets’ means—
(a) an allowance, permit, licence or right to emit during a specified period, a specified amount of carbon dioxide or any other greenhouse gas as defined in Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 1 establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC of 24 September 1996 2 , where such allowance, permit, licence or right is issued by a State or by an inter-governmental or supra-national institution pursuant to a scheme which—
(i) imposes limitations on the emission of such greenhouse gases, and
(ii) allows the transfer for value of such allowances, permits, licences or rights,
(b) an allowance, permit, licence or right to emit during a specified period, a specified amount of carbon dioxide or any other recognised greenhouse gas under a voluntary scheme sponsored by a State or by an inter-governmental institution, or regulated commercial enterprise, where such allowance, permit, licence or right is subject to recognised independent periodic verification, monitoring and reporting, or
(c) any right that is directly attributable to an allowance, permit, licence or right to emit within paragraph (a) or (b);
‘commodities’ means tangible assets (other than currency, securities, debts or other assets of a financial nature) which are dealt in on a recognised commodity exchange;”,
(b) by substituting the following for the definition of “qualifying asset”:
“ ‘qualifying asset’ means an asset which consists of, or of an interest (including a partnership interest) in—
(a) a financial asset,
(b) commodities, or
(c) plant and machinery;”,
(c) in the definition of “financial asset” by substituting the following for paragraph (i):
“(i) carbon offsets, and”,
(d) by deleting the definition of “greenhouse gas emissions allowance”,
(e) in the definition of “qualifying company” by substituting the following for paragraph (c):
“(c) which carries on in the State a business of holding, managing or both the holding and managing of qualifying assets, including, in the case of plant and machinery acquired by the qualifying company, a business of leasing that plant and machinery,”,
(f) in the definition of “qualifying company” by substituting “by virtue of subsections (4A) and (5);” for “by virtue of subsection (5).”, and
(g) by inserting the following definitions after the definition of “qualifying company”:
“ ‘quoted Eurobond’ has the same meaning as in section 64;
‘return agreement’, in relation to a qualifying company, means a specified agreement whereby payments due under the specified agreement are dependent on the results of the company’s business or any part of the company’s business;
‘specified instrument’ means a quoted Eurobond or wholesale debt instrument;
‘specified person’, in relation to a qualifying company, means—
(a) a company which directly or indirectly—
(i) controls the qualifying company,
(ii) is controlled by the qualifying company, or
(iii) is controlled by a third company which also directly or indirectly controls the qualifying company,
where ‘controls’ and ‘controlled’ have the same meanings as they would have by the application of section 11 to this paragraph, or
(b) a person, or persons who are connected with each other—
(i) from whom assets were acquired, or
(ii) to whom the qualifying company has made loans or advances, or
(iii) with whom the qualifying company has entered into specified agreements,
where the aggregate value of such assets, loans, advances or agreements represents not less than 75 per cent of the aggregate value of the qualifying assets of the qualifying company;
‘specified agreement’ means any agreement, arrangement or understanding that—
(a) provides for the exchange, on a fixed or contingent basis, of one or more payments based on the value, rate or amount of one or more interest or other rates, currencies, commodities, securities, instruments of indebtedness, indices, quantitative measures, or other financial or economic interests or property of any kind, or any interest therein or based on the value thereof, and
(b) transfers to a person who is a party to the agreement, arrangement or understanding or to a person connected with that person, in whole or in part, the financial risk associated with a future change in any such value, rate or amount without also conveying a current or future direct or indirect ownership interest in an asset (including any enterprise or investment pool) or liability that incorporates the financial risk so transferred;
‘wholesale debt instrument’ has the same meaning as in section 246A.”.
(2) Section 110 of the Principal Act is amended by substituting the following for subsection (4):
“(4) Subject to subsections (4A) and (5), any interest or other distribution which is paid out of the assets of a qualifying company to another person and is so paid in respect of a security referred to in section 130(2)(d)(iii), shall not be a distribution by virtue only of the provisions of that section.”.
(3) Section 110 of the Principal Act is amended by inserting the following after subsection (4):
“(4A) (a) For the purposes of this subsection ‘relevant territory’ and ‘tax’ have the same meanings as in section 246.
(b) Subject to paragraph (c), as respects any interest or other distribution paid by a qualifying company to a person, other than—
(i) a person who is resident in the State, or
(ii) a person, (not being a specified person) who is a pension fund, government body or other person resident in a relevant territory who, under the laws of that territory, is exempted from tax which generally applies to profits, income or gains in that territory,
subsection (4) shall only apply to so much of such interest or other distribution—
(I) as under the laws of a relevant territory, is subject, without any reduction computed by reference to the amount of such interest or other distribution, to a tax which generally applies to profits, income or gains received in that territory, by persons, from sources outside that territory, or
(II) as is a payment from which tax has been deducted at the standard rate in force at the time of the payment in accordance with section 246(2).
(c) Notwithstanding paragraph (b), subsection (4) shall apply to any interest or other distribution paid by a qualifying company in respect of a specified instrument other than so much of such interest or other distribution as is paid to a specified person in respect of a specified instrument where, at the time the instrument was issued, the qualifying company was in possession, or aware, of information, including information about any arrangement or understanding in relation to ownership of the instrument after that time, which could reasonably be taken to indicate that interest or other distributions which would be payable in respect of that instrument would not be subject, without any reduction computed by reference to the amount of such interest or other distribution, to a tax in a relevant territory which generally applies to profits, income or gains received in that territory, by persons, from sources outside that territory.
(4B) Where any amount, paid out of the assets of a qualifying company under a return agreement, that is dependent on the results of that company’s business or any part of that business, would not be deducted in computing profits or gains of that company if that amount were to be treated, for all the purposes of the Tax Acts, other than subsection (2) of section 246, as a payment of interest, in respect of securities of the company other than specified instruments, that was dependent on the results of the company’s business, then that amount shall not be so deducted.”.
(4) Section 110 of the Principal Act is amended by substituting the following for subsection (5):
“(5) Subsection (4) shall not apply in respect of any interest or other distribution as is paid by a qualifying company where the qualifying company concerned is, at the time of the payment, in possession, or aware, of information that can reasonably be taken to indicate that the payment is part of a scheme or arrangement the main benefit or one of the main benefits of which is the obtaining of a tax relief or the reduction of a tax liability the benefit of which would be expected to accrue to a person who, in relation to the qualifying company, is a specified person.”.
(5) (a) This section shall be construed together with section 110 of the Principal Act.
(b) Subsection (1) applies as respects qualifying assets—
(i) acquired or, as a result of an arrangement with another person, held or managed, by a qualifying company, or
(ii) in relation to which a qualifying company has entered into a legally enforceable arrangement referred to in subparagraphs (ii) or (iii) of paragraph (b) of the definition of qualifying company with another person,
on or after 21 January 2011.
(c) Subsections (2) to (4) apply—
(i) as respects any interest or other distribution paid on or after 21 January 2011 out of assets of a qualifying company in respect of securities of the company other than securities—
(I) which were issued, or were deemed to have been issued, by the qualifying company, or
(II) which the qualifying company issued under a binding written agreement made,
before 21 January 2011,
and
(ii) as respects an amount paid on or after 21 January 2011 out of the assets of a qualifying company under a return agreement other than such an amount paid under a binding written return agreement made before 21 January 2011.
(d) For the purposes of paragraph (c) securities shall be deemed to have been issued by the qualifying company on or before 21 January 2011 where—
(i) as a result of any change in the terms and conditions under which the securities were issued, those securities would represent a new holding within the meaning of section 584 if references in that section to “shares” and “original shares” were deemed to be references to “securities” and “original securities” respectively, and
(ii) as a result of the change in the terms and conditions referred to in subparagraph (i)—
(I) the beneficial ownership of the securities does not change, and
(II) no new consideration is received by the qualifying company or a specified person in respect of those securities.
1 OJ No. L275 of 25.10.2003, p.32
2 OJ No. L257 of 10.10.1996, p.26
num: 41
paragraphs: — Section 766 of the Principal Act is amended in paragraph (ii) of the definition of “expenditure on research and development” in subsection (1)(a) by inserting “(other than a specified intangible asset within the meaning of section 291A treated as machinery or plant by virtue of subsection (2) of that section)” after “plant”.
num: 42
paragraphs: — The Finance Act 1999 is amended with effect as on and from 8 December 2010 by substituting the following for Schedule 2 to that Act (as amended by section 64 (1)(d) of the Finance Act 2010 ):
num: 43
paragraphs: — Chapter 1 of Part 2 of the Finance Act 1999 is amended—
(a) in section 97 by substituting the following for subsection (3)—
“(3) The application of a rate lower than the standard rate concerned may be subject to the satisfaction of the Commissioners as to the use or intended use of the mineral oil concerned, and they may, accordingly, prescribe or otherwise impose conditions for—
(a) the keeping for sale or selling, or
(b) the delivery or keeping for delivery,
of such mineral oil.”,
(b) in section 102 by inserting the following after subsection (1A):
“(1B) It shall be an offence under this subsection for a person—
(a) to sell or to keep for sale, or
(b) to deliver or to keep for delivery,
any mineral oil to which a rate lower than the appropriate standard rate has been applied, and to which markers have, accordingly, been added as prescribed, where such person has failed to comply with a condition prescribed or otherwise imposed under section 97(3), for the sale, keeping for sale, delivery or keeping for delivery (as the case may be) of such mineral oil.”,
(c) in section 102(3) by substituting the following for paragraph (c):
“(c) to keep or have prohibited goods on any premises or other land or on any vehicle.”,
(d) in section 102(4) by substituting “subsection (1A), (1B) or (3)” for “subsection (1A) or (3)”,
(e) in section 102(5) by substituting “subsection (1), (1A), (1B) or (3)” for “subsection (1), (1A) or (3)”, and
(f) in section 102A(1) by substituting “subsection (1A), (1B) or (3)(b)” for “subsection (1A) or (3)(b)”.
num: 44
paragraphs: — Chapter 3 of Part 3 of the Finance Act 2010 is amended by substituting the following for section 79—
“Liability to pay solid fuel carbon tax.
num: 79
paragraphs: — (1) Subject to subsection (2), tax shall be charged at the time when the solid fuel is first supplied in the State by a supplier, and that supplier shall be accountable for and liable to pay the tax charged.
(2) (a) In this subsection ‘manufacture’, in relation to a solid fuel product, means the reconstituting or processing of a solid fuel to produce a solid fuel that has characteristics that are distinct from the solid fuel from which it is produced, and includes the production of compressed nuggets and briquettes, and similar products of a regular shape and size, but does not include extraction, washing, drying, breaking or grinding.
(b) Subject to such conditions as the Commissioners may prescribe, or otherwise require in any particular case, tax shall not be charged on solid fuel supplied by a supplier to a manufacturer of a solid fuel product, where such solid fuel is used as a raw material in the manufacture of such product.
(c) Where paragraph (b) applies, tax shall be charged at the time when the manufactured solid fuel product is first supplied in the State by a supplier, and that supplier shall be accountable for and liable to pay the tax charged.”.
num: 45
paragraphs: — Chapter 1 of Part 2 of the Finance Act 2001 is amended by inserting the following after section 99A:
“Penalty for deliberately or carelessly making incorrect returns, etc.
99B.— (1) In this section—
‘carelessly’ means failure to take reasonable care;
‘liability to tax’ means a liability to the amount of the difference specified in subsection (11) or (12) arising from any matter referred to in subsection (2), (3), (5) or (6);
‘period’ means taxable period, accounting period or other period, as the context requires;
‘prompted qualifying disclosure’, in relation to a person, means a qualifying disclosure that has been made to the Commissioners or to an officer in the period between—
(a) the date on which a person is notified by an officer of the date on which an investigation or inquiry into any matter occasioning a liability to tax of that person will start, and
(b) the date that the investigation or inquiry starts;
‘qualifying disclosure’, in relation to a person, means—
(a) in relation to a penalty referred to in subsection (4), a disclosure that the Commissioners are satisfied is a disclosure of—
(i) complete information in relation to, and full particulars of, all matters occasioning a liability to tax that gives rise to a penalty referred to in subsection (4), and
(ii) full particulars of all matters occasioning any liability to tax or duty that gives rise to—
(I) a penalty referred to in section 1077E(4) of the Taxes Consolidation Act 1997 ,
(II) a penalty referred to in section 134A(2) of the Stamp Duties Consolidation Act 1999 ,
(III) a penalty referred to in section 116 (4) of the Value-Added Tax Consolidation Act 2010 , and
(IV) the application of section 1077E(4) of the Taxes Consolidation Act 1997 to the Capital Acquisitions Tax Consolidation Act 2003 ,
and
(b) in relation to a penalty referred to in subsection (7), a disclosure that the Commissioners are satisfied is a disclosure of complete information in relation to, and full particulars of, all matters occasioning a liability to tax that gives rise to a penalty referred to in subsection (7) for the relevant period,
and which is made in writing to the Commissioners or to an officer and signed by or on behalf of that person and is accompanied by—
(A) a declaration, to the best of that person’s knowledge, information and belief, made in writing that all matters contained in the disclosure are correct and complete, and
(B) a payment of the tax and duty payable in respect of any matter contained in the disclosure and the interest on late payment of that tax and duty;
‘tax’ means any duty of excise;
‘transaction’ means any action giving rise to a liability to, or relief from, tax;
‘unprompted qualifying disclosure’, in relation to a person, means a qualifying disclosure that the Commissioners are satisfied has been voluntarily furnished to them—
(a) before an investigation or inquiry had been started by them or by an officer into any matter occasioning a liability to tax of that person, or
(b) where the person is notified by an officer of the date on which an investigation or inquiry into any matter occasioning a liability to tax of that person will start, before that notification.
(2) Where a person furnishes a return or makes a claim or declaration for the purposes of any requirement of excise law and, in so doing, the person deliberately—
(a) furnishes an incorrect return, or
(b) makes an incorrect claim or declaration,
then that person shall be liable to a penalty.
(3) Where a person deliberately fails to comply with a requirement in accordance with any provision of excise law to furnish a return, then the person shall be liable to a penalty.
(4) The penalty referred to—
(a) in subsection (2), shall be the amount specified in subsection (11), and
(b) in subsection (3), shall be the amount specified in subsection (12),
reduced, where the person liable to the penalty cooperated fully with any investigation or inquiry started by the Commissioners or by an officer into any matter occasioning a liability to tax of that person, to—
(i) 75 per cent of that amount where paragraph (ii) or (iii) does not apply,
(ii) 50 per cent of that amount where a prompted qualifying disclosure is made by that person,
(iii) 10 per cent of that amount where an unprompted qualifying disclosure has been made by that person.
(5) Where a person furnishes a return or makes a claim or declaration for the purposes of any provision of excise law, and in so doing, the person carelessly but not deliberately—
(a) furnishes an incorrect return, or
(b) makes an incorrect claim or declaration,
then that person shall be liable to a penalty.
(6) Where a person carelessly but not deliberately fails to comply with a requirement in accordance with any provision of excise law to furnish a return, then the person shall be liable to a penalty.
(7) (a) The penalty referred to—
(i) in subsection (5), shall be the amount specified in subsection (11), and
(ii) in subsection (6), shall be the amount specified in subsection (12),
reduced to 40 per cent in a case where the excess referred to in subparagraph (I) of paragraph (b) applies and to 20 per cent in any other case.
(b) Where the person liable to the penalty cooperated fully with any investigation or inquiry started by the Commissioners or by an officer into any matter occasioning a liability to tax of that person, the penalty referred to—
(i) in subsection (5), shall be the amount specified in subsection (11), and
(ii) in subsection (6), shall be the amount specified in subsection (12),
reduced—
(I) where the difference referred to in subsection (11) or (12), as the case may be, exceeds 15 per cent of the amount referred to in paragraph (b) of subsection (11) or paragraph (b) of subsection (12), to—
(A) 30 per cent of that difference where clause (B) or (C) does not apply,
(B) 20 per cent of that difference where a prompted qualifying disclosure is made by that person,
(C) 5 per cent of that difference where an unprompted qualifying disclosure is made by that person,
or
(II) where the difference referred to in subsection (11) or (12), as the case may be, does not exceed 15 per cent of the amount referred to in paragraph (b) of subsection (11) or paragraph (b) of subsection (12) to—
(A) 15 per cent of that difference where clause (B) or (C) does not apply,
(B) 10 per cent of that difference where a prompted qualifying disclosure is made by that person,
(C) 3 per cent of that difference where an unprompted qualifying disclosure is made by that person.
(8) Where, for the purposes of any requirement under excise law, a person deliberately or carelessly produces, furnishes, gives, sends or otherwise makes use of, any incorrect invoice, registration number, credit note, debit note, receipt, account, voucher, bank statement, estimate, statement, information, book, document or record, then the person shall be liable to—
(a) a penalty of €3,000 where that person has acted carelessly, or
(b) a penalty of €5,000 where that person has acted deliberately.
(9) Where any return, claim or declaration as is referred to in subsection (2) or (5) was furnished or made by a person, neither deliberately nor carelessly, and it comes to the person’s notice that it was incorrect, then, unless the error is remedied without unreasonable delay, the return, claim or declaration shall be treated for the purposes of this section as having been deliberately made or submitted by that person.
(10) Subject to section 1077D(2) of the Taxes Consolidation Act 1997 , proceedings or applications for the recovery of any penalty under this section shall not be out of time by reason that they are commenced after the time allowed by section 105A.
(11) The amount referred to in paragraph (a) of subsection (4) and in paragraph (a)(i) of subsection (7) shall be the difference between—
(a) the amount of tax (if any) paid or claimed by the person concerned for the relevant period or transaction on the basis of the incorrect return, claim or declaration as furnished or otherwise made, and
(b) the amount properly payable by, or refundable to, that person for that period or transaction.
(12) The amount referred to in paragraph (b) of subsection (4) and in paragraph (b)(ii) of subsection (7) shall be the difference between—
(a) the amount of tax (if any) paid by that person for the relevant period or transaction before the start, by the Commissioners or by an officer, of any inquiry or investigation where the Commissioners had announced publicly that they had started an inquiry or investigation or where the Commissioners or an officer have carried out an inquiry or investigation in respect of any matter that would have been included in the return if the return had been furnished by that person and the return had been correct, and
(b) the amount of tax properly payable by that person for that period or transaction.
(13) Where a second qualifying disclosure is made by a person within 5 years of that person’s first qualifying disclosure, then, as regards matters pertaining to that second disclosure—
(a) in relation to subsection (4)—
(i) paragraph (ii) shall apply as if ‘75 per cent’ were substituted for ‘50 per cent’, and
(ii) paragraph (iii) shall apply as if ‘55 per cent’ were substituted for ‘10 per cent’,
and
(b) in relation to subparagraph (I) of subsection (7)(b)—
(i) clause (B) shall apply as if ‘30 per cent’ were substituted for ‘20 per cent’, and
(ii) clause (C) shall apply as if ‘20 per cent’ were substituted for ‘5 per cent’.
(14) Where a third or subsequent qualifying disclosure is made by a person within 5 years of that person’s second qualifying disclosure, then, as regards matters pertaining to that third or subsequent disclosure, as the case may be—
(a) the penalty referred to in paragraphs (a) and (b) of subsection (4) shall not be reduced, and
(b) the reduction referred to in subparagraph (I) of subsection (7)(b) shall not apply.
(15) A disclosure in relation to a person shall not be a qualifying disclosure where—
(a) before the disclosure is made, an officer had started an inquiry or investigation into any matter contained in that disclosure and had contacted or notified that person, or a person representing that person, in this regard, or
(b) matters contained in the disclosure are matters—
(i) that have become known, or are about to become known, to the Commissioners through their own investigations or through an investigation conducted by a statutory body or agency,
(ii) that are within the scope of an inquiry being carried out wholly or partly in public, or
(iii) to which the person who made the disclosure is linked, or about to be linked, publicly.
(16) For the purposes of this section, any return, claim or declaration submitted on behalf of a person shall be deemed to have been submitted by that person unless that person proves that it was submitted without that person’s consent or knowledge.
(17) Where a person referred to in subsection (2), (3), (5) or (6) is a body of persons, then the person acting in the capacity of secretary to such body is liable to a separate penalty of €1,500 or, in the case of deliberate behaviour, €3,000.”.
num: 46
paragraphs: — (1) Chapter 3 of Part 2 of the Finance Act 2001 is amended—
(a) by deleting section 118,
(b) by substituting the following for section 127:
“Notice of claim.
num: 127
paragraphs: — (1) Where anything has, under any provision of excise law, been seized as liable to forfeiture, a person (referred to in this section as ‘the claimant’) may—
(a) within one month of the date of the notice of seizure under section 142(1), or
(b) where no such notice has been given, within one month of the date of the seizure,
give notice in writing to the Commissioners of a claim (referred to in this section as a ‘notice of claim’) that the thing seized is not so liable.
(2) A notice of claim shall specify the full name and address of the claimant and the basis on which the claim is grounded and, where that address is outside the State, any documents relating to condemnation proceedings under section 128(1) may be served at that address by post.
(3) If, on the expiration of a period referred to in subsection (1), no notice of claim has been given, the thing seized shall be deemed to have been duly condemned as forfeited, and the forfeiture shall apply from the date when the liability to forfeiture arose.
(4) Where a notice of claim has been given, the Commissioners shall, subject to subsections (2) and (3) of section 144, take court proceedings under section 128 for the condemnation of the thing concerned.”,
(c) by substituting the following for section 128:
“Proceedings for condemnation by court.
num: 128
paragraphs: — (1) Proceedings for condemnation by the court in accordance with section 127(4) (in this section referred to as ‘condemnation proceedings’) are civil proceedings, and such proceedings shall be commenced in the name of the Commissioners.
(2) Where in any condemnation proceedings the court finds that the thing seized was, at the time of seizure, liable to forfeiture, the court shall condemn it as forfeited, and in any other case the court shall order its release.
(3) Condemnation proceedings may be instituted in the High Court or, if in the opinion of the Commissioners the value of the thing seized (that is to be the subject of such proceedings) does not exceed—
(a) €38,092, the Circuit Court, or
(b) €6,350, the District Court.
(4) In any condemnation proceedings, the claimant or any solicitor acting on behalf of such claimant, shall state on oath that the thing seized was, or was to the best of their knowledge and belief, the property of the claimant at the time of the seizure.
(5) The Commissioners may in their discretion stay or compound any condemnation proceedings, and may restore anything seized which is the subject of such proceedings, and the Minister for Finance may order any such restoration.
(6) Where in any condemnation proceedings judgment is given for the claimant, no officer or other person who made or assisted in making the seizure is liable to any civil or criminal proceedings on account of the seizure or detention of the thing seized, where the court or judge certifies that there was probable cause for making such seizure or detention.
(7) Where, in any condemnation proceedings, anything is condemned as forfeited, the forfeiture shall apply from the date when the liability to forfeiture arose.”,
and
(d) in section 132 by substituting “section 126 or 128” for “section 126 or 127”.
(2) Section 21 of the Inland Revenue Regulation Act 1890 (as amended by section 53 of the Finance Act 1987 ) is amended in subsection (1) by deleting “or for the condemnation of any goods seized as forfeited under any such Act,”.
num: 47
paragraphs: — Chapter 4 of Part 2 of the Finance Act 2001 is amended—
(a) in section 142(3) by substituting “section 127” for “section 143”,
(b) by deleting section 143,
(c) in section 144—
(i) in subsection (1) by substituting “section 127” for “section 143”,
(ii) by substituting the following for subsections (3) and (4):
“(3) Without prejudice to subsection (2), the Commissioners may as they think fit, and notwithstanding that the thing seized has not yet been condemned, or deemed to have been condemned, as forfeited—
(a) if a notice of claim in relation to such thing has been duly given under section 127, deliver it up to the claimant on payment to them of such sum as they deem proper, being a sum not exceeding that which represents the value of the thing, including any tax or duty on it that has not been paid, or
(b) if the thing seized is, in the opinion of the Commissioners, of a perishable or hazardous nature, or is tobacco products, sell or destroy it.
(4) If, where anything is delivered up, sold or destroyed under subsection (3), it is held by the court in condemnation proceedings under section 128 that such thing was not liable to forfeiture at the time of its seizure, the Commissioners shall, subject to any deduction allowed under subsection (5), on demand tender to such claimant—
(a) where a sum has been paid by such claimant under subsection (3)(a), an amount equal to that sum,
(b) if the thing has been sold under subsection (3)(b), an amount equal to the proceeds of sale,
(c) if the thing has been destroyed under subsection (3)(b), an amount equal to the market value of the thing at the time of its seizure.”.
num: 48
paragraphs: — (1) Section 55(2) of the Finance (No. 2) Act 2008 is amended by substituting the following for paragraph (b):
“(b) Air travel tax shall be charged, levied and paid at the rate of €3 per departure of a passenger on an aircraft from an airport.”.
(2) This section comes into operation on 1 March 2011.
num: 49
paragraphs: — (1) Chapter 1 of Part 2 of the Finance Act 2002 is amended—
(a) in section 64 by deleting the definition of “duty” and inserting the following:
“ ‘bookmaker’ has the same meaning as it has in the Betting Act 1931 ;”,
(b) in section 64, in the definition of “registered premises”, by substituting “1931;” for “1931, and”,
(c) in section 64 by inserting the following definitions after the definition of “registered premises”:
“ ‘remote betting intermediary’ means a person who, in the course of business provides facilities, in accordance with a licence for such activity duly granted under any Act, which allow persons to make bets with other persons by remote means;
‘remote bookmaker’ means a person who engages in bookmaking by remote means in accordance with a licence for such bookmaking duly granted under any Act but does not include a bookmaker licensed under section 7 of the Betting Act 1931 who accepts bets by remote means as an ancillary part of his or her bookmaking business;
‘remote means’ means by way of—
(a) the internet or telephone, or
(b) any other electronic or other technology for facilitating communication by telegraphy or wireless telegraphy;”,
(d) by inserting the following after section 66:
“Remote bookmaker’s licence duty.
66A.— (1) There shall be charged, levied and paid—
(a) for and upon every licence to act and carry on business as a remote bookmaker, an excise duty of €5,000, and
(b) on the renewal of every such licence, the appropriate rate of excise duty mentioned in column (2) of the Table to this section in respect of the level of the annual turnover of the remote bookmaker which is mentioned opposite that rate in column (1) of that Table.
(2) Where it is established that—
(a) the amount of excise duty paid on the renewal of a remote bookmaker’s licence is in excess of the amount properly payable, that excess amount shall be refunded by the Revenue Commissioners;
(b) the amount of the excise duty paid on the renewal of such a licence is less than the amount properly payable, the amount of the shortfall shall be paid before the licence is renewable and the licence shall not be renewable unless so paid.
(3) Every person who fails or neglects to pay the proper sum payable in respect of the duty imposed by this section shall be liable to a penalty of €5,000.
(4) In this section ‘annual turnover’ means—
(a) where the period between the date of the granting of the licence and the date on which it falls due for renewal is less than a year, an amount determined by the formula—
T × 365
—
P
where—
T is the amount in money of the bets entered into by the remote bookmaker with persons in the State in the period between the date of the granting of the licence and 31 October preceding the date on which it falls due for renewal, and
P is the number of days in the period between the date of the granting of the licence and 31 October preceding the date on which it falls due for renewal,
(b) in any other case, the amount in money of the bets entered into by the remote bookmaker with persons in the State in the period of one year ending on 30 September preceding the date on which the licence falls due for renewal.
TABLE
Level of annual turnover
(1)
Rates of duty
(2)
Under €50 million
€50 million but less than €75 million
€75 million but less than €100 million
€100 million but less than €150 million
€150 million but less than €200 million
€200 million but less than €300 million
€300 million but less than €400 million
€400 million but less than €500 million
€500 million or more
€5,000
€10,000
€15,000
€20,000
€30,000
€40,000
€60,000
€80,000
€100,000
Remote betting intermediary’s licence duty.
66B.— (1) There shall be charged, levied and paid—
(a) for and upon every licence to act and carry on business as a remote betting intermediary, an excise duty of €5,000, and
(b) on the renewal of every such licence, the appropriate rate of excise duty mentioned in column (2) of the Table to this section in respect of the level of the annual commission earnings of the remote betting intermediary which is mentioned opposite that rate in column (1) of that Table.
(2) Where it is established that—
(a) the amount of excise duty paid on the renewal of a remote betting intermediary’s licence is in excess of the amount properly payable, that excess amount shall be refunded by the Revenue Commissioners;
(b) the amount of the excise duty paid on the renewal of such a licence is less than the amount properly payable, the amount of the shortfall shall be paid before the licence is renewable and the licence shall not be renewable unless so paid.
(3) Every person who fails or neglects to pay the proper sum payable in respect of the duty imposed by this section shall be liable to a penalty of €5,000.
(4) In this section ‘annual commission earnings’ means—
(a) where the period between the date of the granting of the licence and the date on which it falls due for renewal is less than a year, an amount determined by the formula—
T × 365
—
P
where—
T is the earnings by way of commission charges (within the meaning of section 67B) of the remote betting intermediary in the period between the date of the granting of the licence and 31 October preceding the date on which it falls due for renewal, and
P is the number of days in the period between the date of the granting of the licence and 31 October preceding the date on which it falls due for renewal,
(b) in any other case, the amount of earnings by way of commission charges of the remote betting intermediary in the period of one year ending on 30 September preceding the date on which the licence falls due for renewal.
TABLE
Level of annual commission earnings
(1)
Rates of duty
(2)
Under €3 million
€3 million but less than €4,500,000
€4,500,000 but less than €6 million
€6 million but less than €9 million
€9 million but less than €12 million
€12 million but less than €18 million
€18 million but less than €24 million
€24 million but less than €30 million
€30 million or more
€5,000
€10,000
€15,000
€20,000
€30,000
€40,000
€60,000
€80,000
€100,000
”,
(e) by inserting the following after section 67:
“Application of betting duty to remote bookmakers.
67A.— Betting duty under section 67 shall be charged, levied and paid on and by every remote bookmaker in respect of bets made, laid or otherwise entered into with persons in the State and the provisions of section 67 shall apply in relation to bets made, laid or otherwise entered into by remote bookmakers with such persons.
Betting intermediary duty.
67B.— (1) There shall be charged, levied and paid on and by every remote betting intermediary an excise duty, to be known as betting intermediary duty, at the rate of 15 per cent of commission charges.
(2) For the purposes of this section, ‘commission charges’ means the amounts that parties in the State to bets made using the facilities of a remote betting intermediary are charged, whether by deduction from winnings or otherwise, for using those facilities.
(3) Every person who fails or neglects to pay any sum payable by him or her in respect of betting intermediary duty imposed by this section within the prescribed period shall be liable to a penalty of €5,000.”,
(f) in section 69 by inserting “or the remote bookmaker” after “bookmaker”,
(g) by inserting the following after section 69:
“Time when betting intermediary duty becomes payable.
69A.— Betting intermediary duty shall become due when commission is charged by a remote betting intermediary in respect of a bet made using the facilities of the intermediary.”,
(h) in section 70 by inserting “or betting intermediary duty” after “betting duty” in both places where those words occur,
(i) in section 71(1) by inserting “or section 67A” after “section 67”,
(j) in section 71 by deleting subsection (2),
(k) in section 72(2)(d) by substituting “section 960L” for “section 962”,
(l) in section 75 by deleting subsection (1),
(m) by inserting the following after section 75:
“Application of sections 72 to 75.
75A.— Sections 72 to 75 shall apply in relation to betting intermediary duty under section 67B.”,
(n) in section 76 by substituting “any duty imposed by this Chapter,” for “the duty on bets imposed by section 67 of this Chapter,”,
(o) in section 77(1) by substituting “any duty imposed by this Chapter” for “betting duty”,
(p) in section 77(1)(a) by inserting “, remote bookmakers and remote betting intermediaries” after “bookmakers”,
(q) in section 77(1)(b) by substituting “duty” for “betting duty”, and
(r) by substituting the following for section 77(1)(c):
“(c) requiring the maintenance and production by bookmakers, remote bookmakers and remote betting intermediaries of their books, accounts, vouchers, and other records relating to the business carried on by them, and”.
(2) Subsections (2) and (3) of section 17 of the Finance Act 2009 are repealed.
(3) Subsection (1) comes into operation on such day or days as the Minister for Finance may appoint by order, and different days may be so appointed for different provisions or for different purposes.
num: 50
paragraphs: — Section 130 of the Finance Act 1992 is amended—
(a) by inserting the following definitions after the definition of “Directive 2003/37/EC”:
“ ‘Directive 97/27/EC’ means Directive 97/27/EC 1 of the European Parliament and of the Council of 22 July 1997 (as amended) relating to the masses and dimensions of certain categories of motor vehicles and their trailers and amending Directive 70/156/EEC;
‘electric vehicle’ means a vehicle that derives its motive power exclusively from an electric motor;
‘electric motorcycle’ means a motorcycle that derives its motive power exclusively from an electric motor;
‘flexible fuel vehicle’ means a vehicle that derives its motive power from an internal combustion engine that is capable of using a blend of ethanol and petrol, where such blend contains a minimum of 85 per cent ethanol;
‘hybrid electric vehicle’ means a vehicle that derives its motive power from a combination of an electric motor and an internal combustion engine and is capable of being driven on electric propulsion alone for a material part of its normal driving cycle;”,
(b) by inserting the following definition after the definition of “manufacture”:
“ ‘mass of the vehicle with bodywork in running order’ has the same meaning as in paragraph 2.5 of Annex I to Directive 97/27/EC;”,
(c) by inserting the following definition after the definition of “pick-up”:
“ ‘plug-in hybrid electric vehicle’ means a series production vehicle that derives its motive power from a combination of an electric motor and an internal combustion engine, where the electric motor derives its power from a battery that may be charged from the internal combustion engine and an alternating current (AC) electric mains supply and is capable of being driven on electric propulsion alone for a material part of its normal driving cycle;”,
and
(d) by inserting the following definition after the definition of “special purpose vehicle”:
“ ‘technically permissible maximum laden mass’ has the same meaning as in paragraph 2.6 of Annex I to Directive 97/27/EC (as amended);”.
1 OJ No. L233, 25.8.1997, p.1
num: 51
paragraphs: — Section 132 of the Finance Act 1992 is amended in subsection (3) by substituting the following for paragraph (d):
“(d) in case it is—
(i) a category C vehicle, or
(ii) a category N1 vehicle that, at the time of manufacture, has less than 4 seats and has a technically permissible maximum laden mass that is greater than 130 per cent of the mass of the vehicle with bodywork in running order,
at the rate of €50, or in case such vehicle is registered on or after 1 May 2011, at the rate of €200,”.
num: 52
paragraphs: — Section 135BA (inserted by section 107 of the Finance Act 2010 ) of the Finance Act 1992 is amended—
(a) in subsection (2) by substituting “€1,250” for “€1,500”,
(b) in subsection (2)(b) by substituting “1 January 2011 to 30 June 2011” for “1 January 2010 to 31 December 2010”, and
(c) in subsection (2)(e) by substituting “30 June 2011” for “31 December 2010”.
num: 53
paragraphs: — Chapter IV of Part II of the Finance Act 1992 is amended by substituting the following for section 135C:
“(1) (a) Where a person first registers a category A vehicle or a category B vehicle during the period from 1 January 2011 to 31 December 2012 and the Commissioners are satisfied that the vehicle is—
(i) a series production hybrid electric vehicle, or
(ii) a series production flexible fuel vehicle,
then the Commissioners shall remit or repay to that person an amount equal to the lesser of—
(I) the vehicle registration tax which, apart from this subsection, would be payable in respect of the vehicle in accordance with paragraph (a) or (c) of section 132(3), or
(II) the amount specified in the Table to this subsection which is referable to the vehicle having regard to its age.
(b) In this subsection ‘age’, in relation to a vehicle, means the time that has elapsed since the date on which the vehicle first entered into service.
TABLE 1
Age of vehicle
Maximum amount which may be remitted or repaid
New vehicle, first registration
€1,500
Not a new vehicle but less than 2 years
€1,350
2 years or over but less than 3 years
€1,200
3 years or over but less than 4 years
€1,050
4 years or over but less than 5 years
€900
5 years or over but less than 6 years
€750
6 years or over but less than 7 years
€600
7 years or over but less than 8 years
€450
8 years or over but less than 9 years
€300
9 years or over but less than 10 years
€150
10 years or over
Nil
(2) (a) Where a person first registers a category A vehicle or a category B vehicle during the period from 1 January 2011 to 31 December 2012 and the Commissioners are satisfied that the vehicle is a plug-in hybrid electric vehicle, then the Commissioners shall remit or repay to that person an amount equal to the lesser of—
(i) the vehicle registration tax which, apart from this subsection, would be payable in respect of the vehicle in accordance with paragraph (a) or (c) of section 132(3), or
(ii) the amount specified in the Table to this subsection which is referable to the vehicle having regard to its age.
(b) In this subsection ‘age’, in relation to a vehicle, means the time that has elapsed since the date on which the vehicle first entered into service.
TABLE 2
Age of vehicle
Maximum amount which may be remitted or repaid
New vehicle, first registration
€2,500
Not a new vehicle but less than 2 years
€2,250
2 years or over but less than 3 years
€2,000
3 years or over but less than 4 years
€1,750
4 years or over but less than 5 years
€1,500
5 years or over but less than 6 years
€1,250
6 years or over but less than 7 years
€1,000
7 years or over but less than 8 years
€750
8 years or over but less than 9 years
€500
9 years or over but less than 10 years
€250
10 years or over
Nil
(3) (a) A category A electric vehicle or a category B electric vehicle first registered during the period from 1 January 2011 to 30 April 2011 is exempt from vehicle registration tax where the Commissioners are satisfied that such vehicle is a series production electric vehicle.
(b) Where a person first registers a category A electric vehicle or a category B electric vehicle during the period from 1 May 2011 to 31 December 2012 and the Commissioners are satisfied that the vehicle is a series production electric vehicle, then the Commissioners shall remit or repay to that person an amount equal to the lesser of—
(i) the vehicle registration tax which, apart from this subsection, would be payable in respect of the vehicle in accordance with paragraph (a) or (c) of section 132(3), or
(ii) €5,000.
(4) An electric motorcycle first registered during the period 1 January 2011 to 31 December 2012 is exempt from vehicle registration tax where the Commissioners are satisfied that such vehicle is a series production electric motorcycle.”.
num: 54
paragraphs: — (1) In this section—
“declaration” means any declaration, return or statement required to be made by a person in accordance with the Community Customs Code and includes a declaration made by an electronic data-processing technique;
“duties of Customs” means import duties and export duties as defined in the Community Customs Code;
“supporting documents” means the documents—
(a) required under the Community Customs Code to support a declaration, and
(b) where the declaration is made by an electronic data-processing technique, which are required to be in the possession of the person making the declaration;
“Community Customs Code” means the Community Customs Code established by Council Regulation (EEC) No. 2913/92 of 12 October 1992 1 together with the Regulations amending or implementing that Council Regulation.
(1) (a) A person who fails to comply with a duty, obligation, requirement or condition imposed under the Community Customs Code which relates to Article 38 or 101 of Council Regulation (EEC) No. 2913/92 of 12 October 1992 is liable to a penalty of €500 in respect of each such failure.
(b) A person who fails to comply with a duty, obligation, requirement or condition imposed under the Community Customs Code which relates to a declaration, then where the person, in respect of each such failure—
(i) does not make the declaration, he or she is liable to a penalty of €2,000,
(ii) does not make the declaration within the time limit specified under the Community Customs Code, he or she is liable to a penalty of €250 for each month or part of a month during which the return remains outstanding, subject to a maximum penalty of €2,000,
(iii) makes an incorrect or incomplete declaration, he or she is liable to a penalty of €100,
(iv) makes a declaration using an electronic data-processing technique while not in possession of the required supporting documents, he or she is liable to a penalty of €100.
(c) Except where paragraph (a) or (b) applies, a person who fails to comply with a duty, obligation, requirement or condition imposed under the Community Customs Code is liable to a penalty of €250 in respect of each such failure.
(2) Where the person referred to in subsection (2) is a body of persons and they fail to comply with a duty, obligation, requirement or condition imposed under the Community Customs Code, then the person acting in the capacity of secretary to such body is liable to a separate penalty of an equivalent amount to that stated in the subsection in respect of each such failure.
(3) Any penalty payable under this section is deemed to be a debt due to the Minister for Finance for the benefit of the Central Fund and shall be payable to the Revenue Commissioners.
(4) In relation to any penalty payable under this section, Chapter 3A of Part 47 of the Taxes Consolidation Act 1997 shall apply and the European Communities (Customs Appeals) Regulations 1995 ( S.I. No. 355 of 1995 ) shall not apply.
(5) Nothing in this section shall be read so as to prevent any action or proceedings being otherwise brought for the collection or recovery of duties of Customs.
(6) This section shall be construed as one with the Customs Acts.
1 OJ No. L302, 19.10.1992, p.1
num: 55
paragraphs: — In this Part “Principal Act” means the Value-Added Tax Consolidation Act 2010 .
num: 56
paragraphs: — Section 17 of the Principal Act is amended in subsection (1)(b) by substituting “28 consecutive days” for “7 consecutive days”.
num: 57
paragraphs: — Section 95 of the Principal Act is amended—
(a) in subsection (1) by deleting “and” at the end of paragraph (a) and by substituting “after 1 July 2008, and” for “after 1 July 2008.” in paragraph (b),
(b) in subsection (1) by inserting the following after paragraph (b):
“(c) immovable goods being residential property or burial grounds which are acquired or developed by a public body prior to 1 July 2010, being completed immovable goods before 1 July 2010, and have not been disposed of by that public body prior to that date, until such time as those goods have been disposed of by that public body on or after that date.”,
and
(c) by inserting the following after subsection (6):
“(6A) Where—
(a) a public body makes a supply of immovable goods referred to in subsection (1)(c),
(b) tax is chargeable on that supply, and
(c) that public body was not entitled to deduct all the tax charged to that public body on the acquisition or development of those immovable goods,
then that public body shall be entitled to make the appropriate adjustment that would apply under section 64(6)(a) as if the capital goods scheme applied to that transaction, but that adjustment shall not exceed the value-added tax chargeable on that supply of those goods.”.
num: 58
paragraphs: — Section 115 of the Principal Act is amended—
(a) in subsection (1) by substituting “section 64(10)(c)(i), 64(12), 65(3), 86(1), 95(9)(a) or 124(7)(a) or Chapter 2, 3, 6 or 7 of Part 9” for “section 65(3), 82, 86(1) or 124(7)(a) or Chapter 2, 3 or 7 of Part 9”, and
(b) by inserting the following after subsection (7):
“(7A) A person who does not comply with section 56(3)(c) shall be liable to a penalty of €4,000 in respect of the taxable period during which he or she ceased to be a qualifying person (within the meaning of section 56) and to a further penalty of €4,000 for each subsequent taxable period during which he or she is not such a person and has failed to advise the Revenue Commissioners accordingly.”.
num: 59
paragraphs: — (1) The Principal Act is amended—
(a) in section 16 by inserting the following after subsection (3):
“(4) (a) In this subsection—
‘dealing in scrap metal’ means the purchase, sale, resale or recovery of scrap metal;
‘recovery’, in relation to scrap metal, means any activity carried on for the purposes of reclaiming, recycling or re-using, in whole or in part, scrap metal and any activities related to such reclamation, recycling or re-use;
‘scrap metal’ includes scrapped metal and metal waste originating from, or extracted from, the processing of metals, metal derived from vehicles, metal derived from construction and demolition waste, machine parts and metal items no longer useable in their original form due to their breaking, obsolescence, shearing, wearing or the like, and also includes goods listed in paragraphs (1) to (3) of Annex VI of the VAT Directive.
(b) Notwithstanding section 56, where a taxable person carries on a business in the State, which consists of or includes dealing in scrap metal (in this subsection referred to as a ‘recipient’) and he or she receives a supply of scrap metal from another taxable person who carries on a business in the State, then—
(i) the recipient shall, in relation to that supply, be an accountable person or be deemed to be an accountable person and shall be liable to pay the tax chargeable as if that recipient made that supply in the course or furtherance of business, and
(ii) the person who supplied the scrap metal shall not be accountable for or liable to pay such tax in respect of that supply.”,
(b) in section 59(2) by inserting the following after paragraph (i):
“(ia) the tax chargeable during the period, being tax for which the recipient (within the meaning of section 16(4)(b)) is liable by virtue of section 16(4)(b) in respect of scrap metal (within the meaning of section 16(4)(a)) received by that recipient, but only where the recipient would be entitled to a deduction of that tax elsewhere under this subsection if that tax had been charged to such recipient by an accountable person,”,
(c) in section 66 by inserting the following after subsection (4):
“(4A) (a) Where a taxable person who carries on a business in the State supplies scrap metal (within the meaning of section 16(4)(a)) to a recipient (within the meaning of section 16(4)(b)), the person shall issue a document to the recipient indicating—
(i) that the recipient is liable to account for the tax chargeable on that supply, and
(ii) such other particulars as would be required to be included in that document if that document were an invoice required to be issued in accordance with subsection (1) but excluding the amount of tax payable.
(b) Where the recipient and the person who supplied the scrap metal so agree, section 71(1) may apply to this document as if it were an invoice.”,
and
(d) in section 87(1), in the definition of “second-hand goods”, by inserting “scrap metal within the meaning of section 16(4)(a),” after “but not including”.
(2) Subsection (1) comes into operation on 1 May 2011.
num: 60
paragraphs: — (1) Schedule 1 to the Principal Act is amended—
(a) by substituting the following for paragraph 1:
“1. Public postal services, including the supply of goods and services incidental to their provision, which are provided as part of a universal service, in accordance with Chapter 2 (as amended by Directive 2008/6/EC of the European Parliament and of the Council of 20 February 2008 1 ) of Directive 97/67/EC of the European Parliament and of the Council of 15 December 1997 2 , by An Post (including postmasters) or by any other persons designated by the State in accordance with that Chapter (as so amended), but only if that supply is not on terms that have been individually negotiated.”,
(b) in paragraph 3, by substituting the following for subparagraph (5):
“(5) The supply of cultural services, and the supply of goods closely linked to those services, by—
(a) a public body on or after 1 July 2010,
or
(b) any cultural body (whether established by or under an enactment or not) that is recognised as such a body by the Revenue Commissioners for the purposes of this paragraph,
but excluding the supply of services to which paragraph 5(2) relates.”,
and
(c) by substituting the following for subparagraph (1) of paragraph 10:
“(1) The acceptance of bets that are subject to excise duty imposed by section 67 or 67A of the Finance Act 2002 and bets that are exempt from excise duty by virtue of section 68 of that Act.
(1A) The supply of services by a remote betting intermediary (within the meaning of section 64 of the Finance Act 2002 ), the consideration for which consists of commission charges within the meaning of section 67B of that Act that are subject to excise duty imposed by that section.”.
(2) (a) Subsection (1) (a) has effect on and from 1 January 2011.
(b) Subsection (1) (c) comes into operation on such day or days as the Minister for Finance may appoint by order, and different days may be so appointed for different provisions or for different purposes.
1 OJ No. L52, 27.02.2008, p. 3
2 OJ No. L15, 21.01.1998, p. 14
num: 61
paragraphs: — The Principal Act is amended to the extent and manner specified in Schedule 2 .
num: 62
paragraphs: — In this Part “Principal Act” means the Stamp Duties Consolidation Act 1999 .
num: 63
paragraphs: — (1) Subject to subsection (2), the Principal Act is amended—
(a) in section 45A by deleting subsections (5) and (6),
(b) in section 83A by inserting the following after subsection (5):
“(6) This section shall not apply to an instrument executed on or after 8 December 2010.”,
(c) in section 91A by inserting the following after subsection (9):
“(10) This section shall not apply to an instrument executed on or after 8 December 2010.”,
(d) in section 92 by inserting the following after subsection (5):
“(6) This section shall not apply to an instrument executed on or after 8 December 2010.”,
(e) in section 92B by inserting the following after subsection (7):
“(7A) (a) In this subsection—
‘incapacitated individual’ means an individual who is permanently incapacitated by reason of mental infirmity, but is capable of residing on his or her own with appropriate care;
‘qualifying dwellinghouse’ means a dwellinghouse or apartment or part of a dwellinghouse or apartment, which will be occupied by the incapacitated individual as his or her principal place of residence, and will not be occupied by either parent of the incapacitated individual or by a trustee as his or her principal place of residence;
‘trustee’ means a trustee of a trust in respect of which it is shown to the satisfaction of the Commissioners, that—
(i) the trust has been established exclusively for the benefit of an incapacitated individual, and
(ii) the trust funds are applied for the benefit of that individual at the discretion of the trustees of the trust.
(b) Notwithstanding subsection (1), where a parent of an incapacitated individual or a trustee purchases a qualifying dwellinghouse, the parent or the trustee, as the case may be, shall be deemed to be a first time purchaser, for the purposes of the definition in subsection (1), in respect of a conveyance or transfer of the qualifying dwellinghouse executed on or after 1 January 2010, including a conveyance or transfer operating as a voluntary disposition within the meaning of section 30, to that parent or trustee.
(c) This subsection shall apply to only one such conveyance or transfer referred to in paragraph (b), being the first such conveyance or transfer executed by the parent or by the trustee, as the case may be.”,
and
(f) in section 92B by inserting the following after subsection (11):
“(12) This section shall not apply to an instrument executed on or after 8 December 2010.”.
(2) Subsection (1) shall not apply as respects any instrument executed before 1 July 2011 where—
(a) the effect of the application of that subsection would be to increase the duty otherwise chargeable on the instrument, and
(b) the instrument contains a statement, in such form as the Revenue Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into before 8 December 2010.
num: 64
paragraphs: — (1) The Principal Act is amended by substituting the following for section 106B:
“106B.— (1) In this section ‘housing authority’ means—
(a) a housing authority, within the meaning of the Housing Acts 1966 to 2009, in connection with any of its functions under those Acts, or
(b) the Affordable Homes Partnership established under article 4(1) of the Affordable Homes Partnership (Establishment) Order 2005 ( S.I. No. 383 of 2005 ) in connection with the services specified in article 4(2) of that Order, as amended by the Affordable Homes Partnership (Establishment) Order 2005 (Amendment) Order 2007 ( S.I. No. 293 of 2007 ).
(2) Stamp duty shall not be chargeable on any instrument giving effect to the conveyance, transfer or lease of a house, building or land to a housing authority.
num: 65
paragraphs: — Section 125A (inserted by the Health Insurance (Miscellaneous Provisions) Act 2009 ) of the Principal Act is amended—
(a) in subsection (1) in the definition of “due date”—
(i) in paragraph (c) by substituting “21 September 2011” for “30 September 2011”, and
(ii) in paragraph (d) by substituting “21 January 2012” for “31 January 2012”,
and
(b) by substituting the following for subsection (3):
“(3) There shall be charged on every statement delivered by an authorised insurer pursuant to subsection (2) a stamp duty at the rate of—
(a) where the relevant contract was renewed or entered into before 1 January 2010—
(i) €53 in respect of each insured person aged less than 18 years, and
(ii) €160 in respect of each insured person aged 18 years or over,
(b) where the relevant contract was renewed or entered into on or after 1 January 2010 and before 1 January 2011—
(i) €55 in respect of each insured person aged less than 18 years, and
(ii) €185 in respect of each insured person aged 18 years or over,
and
(c) where the relevant contract was renewed or entered into on or after 1 January 2011—
(i) €66 in respect of each insured person aged less than 18 years, and
(ii) €205 in respect of each insured person aged 18 years or over,
included in the statement.”.
num: 66
paragraphs: — (1) Schedule 1 to the Principal Act is amended—
(a) under the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance.”, by substituting the following for paragraphs (1) and (2):
“(1) Where the amount or value of the consideration for the sale is wholly or partly attributable to residential property and the instrument contains a statement certifying that the consideration for the sale is, as the case may be—
(a) wholly attributable to residential property, or
(b) partly attributable to residential property,
and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which, had there been a larger transaction or a series of transactions, the amount or value, or the aggregate amount or value, of the consideration (other than the consideration for the sale concerned which is wholly or partly attributable to residential property) would have been wholly or partly attributable to residential property:
for the consideration which is attributable to residential property
1 per cent of the first €1,000,000 of the consideration and 2 per cent of the balance of the consideration thereafter but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €.”,
(b) under the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance.”, in paragraph (3)—
(i) by substituting “paragraph (1) does” for “paragraphs (1) and (2) do”,
(ii) by substituting “paragraph (1)” for “paragraph (2)” in each place, and
(iii) by substituting “shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €.” for “shall be rounded down to the nearest €.”,
(c) under the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance.”, in paragraph (4)—
(i) by substituting “2 per cent” for “9 per cent”, and
(ii) by substituting “shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €.” for “shall be rounded down to the nearest €.”,
(d) under the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance.”, in paragraph (15) by substituting “Where paragraphs (7) to (13) apply” for “Where”,
(e) under the Heading “LEASE.”, by substituting the following for clauses (i) and (ii) of paragraph (3)(a):
“(i) he amount or value of such consideration for the lease is wholly or partly attributable to residential property and the instrument contains a statement certifying that the consideration (other than rent) for the lease is, as the case may be—
(I) wholly attributable to residential property, or
(II) partly attributable to residential property,
and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which, had there been a larger transaction or a series of transactions, the amount or value, or the aggregate amount or value, of the consideration (other than the consideration for the lease concerned which is wholly or partly attributable to residential property and other than rent) would have been wholly or partly attributable to residential property:
for the consideration which is attributable to residential property
1 per cent of the first €1,000,000 of the consideration and 2 per cent of the balance of the consideration thereafter but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €.”,
(f) under the Heading “LEASE.”, in clause (iii) of paragraph (3)(a)—
(i) by substituting “clause (i) does” for “clauses (i) and (ii) do”, and
(ii) by substituting “clause (i)” for “clause (ii)” in each place,
and
(g) under the Heading “LEASE.”, in clause (iv) of paragraph (3)(a)—
(i) by substituting “2 per cent” for “9 per cent”, and
(ii) by substituting “shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €.” for “shall be rounded down to the nearest €.”.
(2) Subject to subsection (3), subsection (1) shall apply as respects instruments executed on or after 8 December 2010.
(3) Subsection (1) shall not apply as respects any instrument executed before 1 July 2011 where—
(a) the effect of the application of that subsection would be to increase the duty otherwise chargeable on the instrument, and
(b) the instrument contains a statement, in such form as the Revenue Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into before 8 December 2010.
num: 67
paragraphs: — In this Part “Principal Act” means the Capital Acquisitions Tax Consolidation Act 2003 .
num: 68
paragraphs: — (1) The Principal Act is amended—
(a) in section 89(4)(a)(i) by substituting “commencing on” for “after”,
(b) in section 102A(2)(c) by substituting “commencing on the sixth anniversary of the date of the gift or inheritance and ending 4 years after that date” for “commencing 6 years after the date of the gift or inheritance and ending 10 years after that date”, and
(c) in section 104(3) by substituting “commencing on” for “after”.
(2) This section applies to gifts and inheritances taken on or after 21 January 2011.
num: 69
paragraphs: — (1) The Principal Act is amended—
num: 70
paragraphs: — (1) The Principal Act is amended—
(a) in section 46(2A) by substituting “30 September” for “31 October” in each place,
(b) in section 51(2)(a) by substituting “1 October” for “1 November” in each place, and
(c) in section 53A(1) by substituting “30 September” for “31 October” in each place.
(2) This section applies to returns delivered and tax paid on or after 21 January 2011.
num: 71
paragraphs: — In this Part “Principal Act” means the Taxes Consolidation Act 1997 .
num: 72
paragraphs: — (1) Section 817M of the Principal Act is amended—
(a) by renumbering the existing provision as subsection (1) of that section,
(b) in subsection (1) by inserting “subject to subsection (2),” after “shall,”, and
(c) by inserting the following after subsection (1):
“(2) A client list provided to the Revenue Commissioners under paragraph (a) or (b), as the case may be, of subsection (1) shall not include the name, address or tax reference number of any person to whom the promoter has made the disclosable transaction available for implementation where the promoter is satisfied, at the time of providing the client list, that such person has not entered into any transaction forming part of the disclosable transaction.”.
(2) Subsection (1) applies as on and from 21 January 2011.
num: 73
paragraphs: — Section 149 of the Finance Act 2010 is amended in subsection (2)(b) with effect from 3 April 2010 by substituting “17 January 2011” for “the date of the passing of this Act” in each place.
num: 74
paragraphs: — The Principal Act is amended—
(a) in subsection (1) of section 1002, by substituting the following for paragraph (c):
“(c) Where the Revenue Commissioners issue a notice of attachment in respect of any amount of money due by the relevant person to the taxpayer as emoluments under a contract of service, the notice may provide for the payment by the relevant person of the amount of the default out of the emoluments, after taking account of statutory deductions, over a period specified in the notice.”,
(b) in subsection (8) of section 1002, by substituting “by” for “at the suit of an officer of”, and
(c) by inserting the following after section 904J—
“Power of inspection: notices of attachment.
904K.— (1) In this section—
‘authorised officer’ means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this section;
‘books, records or other documents’ includes—
(a) any records used in the business of a relevant person whether—
(i) comprised in bound volume, loose-leaf binders or other loose-leaf filing system, loose-leaf ledger sheets, pages, folios or cards, or
(ii) kept on microfilm, magnetic tape or in any non-legible form (by the use of electronics or otherwise) which is capable of being reproduced in a legible form,
(b) every electronic or other automatic means, if any, by which any such thing in non-legible form is so capable of being reproduced,
(c) documents in manuscript, documents which are typed, printed, stencilled or created by any other mechanical or partly mechanical process in use from time to time and documents which are produced by any photographic or photostatic process, and
(d) correspondence and records of other communications between a qualifying lender and an individual having a qualifying mortgage loan from that qualifying lender;
‘relevant employee’ means an employee of a relevant person who by virtue of his or her employment—
(a) is in a position to produce or have produced, as appropriate, any books, records or other documents,
(b) is in a position to furnish or have furnished, as appropriate, any information, explanations or particulars relating to any books, records or other documents, or
(c) otherwise can give assistance for the purposes of paragraph (a) or (b),
to an authorised officer, as may be required under subsection (3);
‘relevant person’ and ‘return’ have the same meaning as in section 1002.
(2) An authorised officer may at all reasonable times enter any premises or place of business of a relevant person for the purpose of auditing a return.
(3) An authorised officer may require a relevant person or a relevant employee to produce books, records or other documents and to furnish information, explanations and particulars and to give all assistance, which the authorised officer reasonably requires for the purposes of his or her audit under subsection (2).
(4) An authorised officer may make extracts from or copies of all or any part of the books, records or other documents or other material made available to him or her or require that copies of books, records, or other documents be made available to him or her, in exercising or performing his or her powers or duties under this section.
(5) An authorised officer when exercising or performing his or her powers or duties under this section shall, on request, produce his or her authorisation for the purposes of this section.
(6) A relevant employee who fails to comply with the requirements of the authorised officer in the exercise or performance of the authorised officer’s powers or duties under this section shall be liable to a penalty of €1,265.
(7) A relevant person who fails to comply with the requirements of the authorised officer in the exercise or performance of the authorised officer’s powers or duties under this section shall be liable to a penalty of €19,045 and if that failure continues a further penalty of €2,535 for each day on which the failure continues.”.
num: 75
paragraphs: — Section 1078 of the Principal Act is amended in subsection (2), by inserting the following after paragraph (b):
“(ba) knowingly or wilfully possesses or uses, for the purpose of evading tax, a computer programme or electronic component which modifies, corrects, deletes, cancels, conceals or otherwise alters any record stored or preserved by means of any electronic device without preserving the original data and its subsequent modification, correction, cancellation, concealment or alteration,
(bb) provides or makes available, for the purpose of evading tax, a computer programme or electronic component which modifies, corrects, deletes, cancels, conceals or otherwise alters any record stored or preserved by means of any electronic device without preserving the original data and its subsequent modification, correction, cancellation, concealment or alteration,”.
num: 76
paragraphs: — Section 1086 of the Principal Act is amended—
(a) by inserting the following subsection after subsection (2A):
“(2B) For the purposes of this section, where the Revenue Commissioners—
(a) accepted or undertook to accept a specified sum under subsection (2)(c), or
(b) accepted or undertook to accept a specified sum under subsection (2)(d),
and the person fails to pay the specified sum of money within the relevant period, the person shall nevertheless be included on the list referred to in subsection (2).”,
(b) in subsection (5) by deleting “and” at the end of paragraph (a) and, in paragraph (b), by substituting “paragraph (a), and” for “paragraph (a).”, and
(c) in subsection (5) by inserting the following after paragraph (b):
“(c) of any amount of tax determined under the Acts, whether paid or not, by reference to which a penalty was determined by a court in accordance with section 1077B.”.
num: 77
paragraphs: — The Principal Act is amended by inserting the following after section 851—
“851A.— (1) In this section,
‘agent’ means a member of a professional body;
‘investigation authority’ means a statutory body responsible for the investigation of alleged criminal offences;
‘professional body’ means—
(a) an accountancy body that comes within the supervisory remit of the Irish Auditing and Accounting Supervisory Authority,
(b) the Irish Auditing and Accounting Supervisory Authority, or
(c) the Irish Taxation Institute;
‘Revenue officer’ includes serving and former officers of the Revenue Commissioners;
‘taxpayer information’ means information of any kind and in any form relating to one or more persons that is—
(a) obtained by a Revenue officer for the purposes of the Acts, or
(b) prepared from information so obtained,
but does not include information that does not directly or indirectly reveal the identity of the person to whom it relates;
‘the Acts’ means—
(a) the Tax Acts,
(b) Parts 18A, 18B, 18C and 18D,
(c) the statutes relating to the duties of excise and to the management of those duties,
(d) the Capital Gains Tax Acts,
(e) the Value-Added Tax Acts,
(f) the Capital Acquisitions Tax Consolidation Act 2003 , and the enactments amending or extending that Act, and
(g) the statutes relating to stamp duty and the management of that duty,
and any instruments made thereunder and any instruments made under any other enactment and relating to tax.
(2) All taxpayer information held by the Revenue Commissioners or a Revenue officer is confidential and may only be disclosed in accordance with this section or as is otherwise provided for by any other statutory provision.
(3) Except as authorised by this section, any Revenue officer who knowingly—
(a) provides to any person any taxpayer information,
(b) allows to be provided to any person any taxpayer information,
(c) allows any person to have access to any taxpayer information, or
(d) uses any taxpayer information otherwise than in the course of administering or enforcing the Acts,
shall be guilty of an offence and shall be liable—
(i) on summary conviction to a fine of €3,000, and
(ii) on conviction on indictment to a fine of €10,000.
(4) Subject to subsection (5), a Revenue officer shall not be required to give or produce evidence relating to taxpayer information in connection with any legal proceedings, notwithstanding anything to the contrary.
(5) Subsection (2) does not apply to—
(a) criminal proceedings, or
(b) any legal proceedings (including proceedings before the Appeal Commissioners) relating to the administration or enforcement of the Acts.
(6) (a) Where a Revenue officer has information that leads him or her to suspect that a criminal offence may have been committed, he or she may report the matter and provide such information, as is appropriate, to an investigation authority for investigation.
(b) Information received by an investigation authority may only be used in the detection or investigation of the matter reported to it.
(7) (a) A Revenue officer may disclose personal information to a professional body where he or she is satisfied that the work of an agent does not meet the professional standards of a professional body.
(b) Information received by a professional body may only be used for the purposes of any investigation by the professional body.
(8) A Revenue officer may disclose information in the following circumstances—
(a) where disclosure of information is authorised by the Freedom of Information Act 1997 and the information is not taxpayer information,
(b) for the purposes of any enquiry under the Tribunal of Enquiry (Evidence) Acts 1921 to 2002,
(c) where the taxpayer information disclosed relates to the person to whom disclosure is made,
(d) where the taxpayer information is disclosed with the consent of the taxpayer to any other person,
(e) where disclosure is made to a person acting in a representative capacity, taxpayer information that is relevant to the person in that capacity,
(f) in relation to a charity, such information as a Revenue Commissioner may authorise in writing and which is in the possession of a Revenue officer in relation to the name of a charity, its objectives, its governing documents and its principal officers,
(g) taxpayer information may be disclosed to an official of the Department of Finance solely for the purposes of the formulation or evaluation of fiscal policy,
(h) taxpayer information which may reasonably be regarded as necessary for the purposes of determining any tax, interest, penalty or other amount that is or may become payable by another person, or any refund or tax credit to which the other person is or may become entitled, may be disclosed to that other person,
(i) information which is not taxpayer information, and
(j) taxpayer information the disclosure of which is expressly authorised by another enactment.
(9) Nothing in this section shall prevent the due disclosure in the course of duties of taxpayer information by a Revenue Commissioner or Revenue officer to another Revenue Commissioner or Revenue officer.
(10) Section 13 of the Criminal Procedure Act 1967 shall apply in relation to an offence under this section as if, in place of the penalty provided for in subsection (3) of that section, there were specified in that subsection the penalty provided for by subsection (3)(i), and the reference in subsection (2)(a) of section 13 of the Criminal Procedure Act 1967 to the penalty provided for in subsection (3) of that section shall be construed and apply accordingly.”.
num: 78
paragraphs: — Section 960E of the Principal Act is amended in subsection (4) by substituting “send, make available or cause to be made available” for “provide”.
num: 79
paragraphs: — The Principal Act is amended by inserting the following section after section 960E:
“960EA.— (1) In this section—
‘prescribed’ means prescribed by the Revenue Commissioners in regulations made under subsection (3);
‘relevant payment method’ means each of the following methods of payment:
(a) credit card,
(b) debit card,
(c) any other prescribed method or methods of payment;
‘relevant person’ means the Revenue Commissioners, the Collector-General or a Revenue officer, as the case may be.
(2) Where a person makes any payment of tax to a relevant person using a relevant payment method, the relevant person may refuse to accept such payment where, by accepting the payment made using such relevant payment method the Revenue Commissioners would, but for this section, incur any fees or charges (however described) in connection with any amount paid, using the relevant payment method concerned, to the relevant person, unless, at the time of making the payment, the person making the payment agrees to the payment of such additional charge or additional charges, as the case may be, as may be prescribed, by reason of the person’s making payment by that relevant payment method.
(3) The Revenue Commissioners may make regulations—
(a) prescribing a relevant payment method or relevant payment methods or class or classes of relevant payment method or relevant payment methods for the purposes of this section,
(b) prescribing the additional charge or additional charges payable in respect of each relevant payment method or each class of relevant payment method or relevant payment methods and different additional charges may be prescribed for different relevant payment methods or classes of relevant payment methods, and
(c) specifying—
(i) the period of time within which or the time by which, and
(ii) the manner in which,
any such additional charge or additional charges as may be prescribed under paragraph (b) shall be paid.”.
num: 80
paragraphs: — (1) Schedule 24A to the Principal Act is amended—
(a) in Part 1 by inserting the following before paragraph 1:
“1A. The Double Taxation Relief (Taxes on Income) (Republic of Albania) Order 2011 ( S.I. No. 16 of 2011 ).”,
(b) in Part 1 by substituting the following for paragraph 2:
“2. The Double Taxation Relief (Taxes on Income) (Republic of Austria) Order 1967 ( S.I. No. 250 of 1967 ), the Double Taxation Relief (Taxes on Income and Capital Gains) (Republic of Austria) Order 1988 ( S.I. No. 29 of 1988 ) and the Double Taxation Relief (Taxes on Income and Capital Gains) (Republic of Austria) Order 2011 ( S.I. No. 30 of 2011 ).”,
(c) in Part 1 by substituting the following for paragraph 14:
“14. The Double Taxation Relief (Taxes on Income and Capital and Gewerbesteuer (Trade Tax)) (Federal Republic of Germany) Order 1962 ( S.I. No. 212 of 1962 ) and the Double Taxation Relief (Taxes on Income and on Capital) (Federal Republic of Germany) Order 2011 ( S.I. No. 31 of 2011 ).”,
(d) in Part 1 by inserting the following after paragraph 15:
“15A. The Double Taxation Relief (Taxes on Income) (Hong Kong Special Administrative Region) Order 2011 ( S.I. No. 17 of 2011 ).”,
(e) in Part 1 by inserting the following after paragraph 22:
“22A. The Double Taxation Relief (Taxes on Income) (State of Kuwait) Order 2011 ( S.I. No. 21 of 2011 ).”,
(f) in Part 1 by substituting the following for paragraph 26:
“26. The Double Taxation Relief (Taxes on Income) (Malaysia) Order 1998 ( S.I. No. 495 of 1998 ) and the Double Taxation Relief (Taxes on Income) (Malaysia) Order 2011 ( S.I. No. 32 of 2011 ).”,
(g) in Part 1 by inserting the following after paragraph 27A:
“27B. The Double Taxation Relief (Taxes on Income) (Montenegro) Order 2011 ( S.I. No. 18 of 2011 ).
27C. The Double Taxation Relief (Taxes on Income) (Kingdom of Morocco) Order 2011 ( S.I. No. 19 of 2011 ).”,
(h) in Part 1 by inserting the following after paragraph 35A:
“35B. The Double Taxation Relief (Taxes on Income) (Republic of Singapore) Order 2011 ( S.I. No. 34 of 2011 ).”,
(i) in Part 1 by substituting the following for paragraph 38:
“38. The Double Taxation Relief (Taxes on Income and Capital Gains) (Republic of South Africa) Order 1997 ( S.I. No. 478 of 1997 ) and the Double Taxation Relief (Taxes on Income and Capital Gains) (Republic of South Africa) Order 2011 ( S.I. No. 33 of 2011 ).”,
(j) in Part 1 by inserting the following after paragraph 41A:
“41B. The Double Taxation Relief (Taxes on Income and Capital Gains) (United Arab Emirates) Order 2011 ( S.I. No. 20 of 2011 ).”,
(k) in Part 3 by inserting the following after paragraph 1:
“1A. The Exchange of Information Relating to Tax Matters (Antigua and Barbuda) Order 2011 ( S.I. No. 22 of 2011 ).
1B. The Exchange of Information Relating to Tax Matters (Belize) Order 2011 ( S.I. No. 23 of 2011 ).”,
(l) in Part 3 by inserting the following after paragraph 2:
“2A. The Exchange of Information Relating to Taxes (British Virgin Islands) Order 2011 ( S.I. No. 24 of 2011 ).”,
(m) in Part 3 by inserting the following after paragraph 3:
“3A. The Exchange of Information Relating to Tax Matters (Cook Islands) Order 2011 ( S.I. No. 25 of 2011 ).”,
and
(n) in Part 3 by inserting the following after paragraph 8:
“8A. The Exchange of Information Relating to Tax Matters (Republic of the Marshall Islands) Order 2011 ( S.I. No. 26 of 2011 ).
8B. The Exchange of Information Relating to Tax Matters (Saint Lucia) Order 2011 ( S.I. No. 27 of 2011 ).
8C. The Exchange of Information Relating to Tax Matters (Saint Vincent and the Grenadines) Order 2011 ( S.I. No. 28 of 2011 ).
8D. The Exchange of Information Relating to Tax Matters (Samoa) Order 2011 ( S.I. No. 29 of 2011 ).”.
(2) This section applies as on and from the date of the passing of this Act.
num: 81
paragraphs: — The enactments specified in Schedule 3 —
num: 82
paragraphs: — (1) In this section—
“capital services” has the same meaning as it has in the principal section;
“Capital Services Redemption Account” has the same meaning as it has in the principal section;
“fifty-eighth additional annuity” means the sum charged on the Central Fund under subsection (3);
“principal section” means section 22 of the Finance Act 1950 .
(2) In relation to the 29 successive financial years commencing with the financial year ending on 31 December 2011, subsection (3) of section 162 of the Finance Act 2010 shall have effect with the substitution of “€272,104,407” for “€275,622,930”.
(3) A sum of €141,616,974 to redeem borrowings in respect of capital services and interest on such borrowings shall be charged annually on the Central Fund or the growing produce of that Fund in the 30 successive financial years commencing with the financial year ending on 31 December 2011.
(4) The fifty-eighth additional annuity shall be paid into the Capital Services Redemption Account in such manner and at such times in the relevant financial year as the Minister for Finance may determine.
(5) Any amount of the fifty-eighth additional annuity, not exceeding €108,850,000 in any financial year, may be applied toward defraying the interest on the public debt.
(6) The balance of the fifty-eighth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.
num: 83
paragraphs: — All taxes and duties imposed by this Act are placed under the care and management of the Revenue Commissioners.
num: 84
paragraphs: — (1) This Act may be cited as the Finance Act 2011.
(2) Part 1 shall be construed together with—
(a) in so far as it relates to income tax, income levy and Universal Social Charge, the Income Tax Acts,
(b) in so far as it relates to corporation tax, the Corporation Tax Acts, and
(c) in so far as it relates to capital gains tax, the Capital Gains Tax Acts.
(3) Part 2 shall be construed together with—
(a) in so far as it relates to duties of excise, the statutes which relate to those duties and to the management of those duties, and
(b) in so far as it relates to customs, the Customs Acts.
(4) Part 3 shall be construed together with the Value-Added Tax Consolidation Act 2010 and may be cited together with that Act as the Value-Added Tax Acts.
(5) Part 4 shall be construed together with the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act.
(6) Part 5 shall be construed together with the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act.
(7) Part 6 in so far as it relates to—
(a) income tax, shall be construed together with the Income Tax Acts,
(b) corporation tax, shall be construed together with the Corporation Tax Acts,
(c) capital gains tax, shall be construed together with the Capital Gains Tax Acts,
(d) customs, shall be construed together with the Customs Acts,
(e) duties of excise, shall be construed together with the statutes which relate to duties of excise and the management of those duties,
(f) value-added tax, shall be construed together with the Value-Added Tax Acts,
(g) stamp duty, shall be construed together with the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act,
(h) residential property tax, shall be construed together with Part VI of the Finance Act 1983 and the enactments amending or extending that Part, and
(i) gift tax or inheritance tax shall be construed together with the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act.
(8) Except where otherwise expressly provided in Part 1 , that Part is deemed to have come into force and takes effect as on and from 1 January 2011.
(9) Except where otherwise expressly provided for, where a provision of this Act is to come into operation on the making of an order by the Minister for Finance, that provision shall come into operation on such day or days as the Minister for Finance shall appoint either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions.