Taxes Consolidation Act, 1997

Taxes Consolidation Act, 1997 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.ie) Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(s) or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1997 Taxes Consolidation Act, 1997 Taxes Consolidation Act, 1997 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Open PDFOscail PDF Print Full ActPriontáil an tAcht Iomlán Number 39 of 1997 TAXES CONSOLIDATION ACT, 1997 ARRANGEMENT OF PARTS, CHAPTERS AND SCHEDULES INTERPRETATION AND BASIC CHARGING PROVISIONS

PART 1

Interpretation

PART 2

The Charge to tax

CHAPTER 1

Income tax

CHAPTER 2

Corporation tax

CHAPTER 3

Capital gains tax INCOME TAX AND CORPORATION TAX: THE MAIN PROVISIONS

PART 3

Provisions Relating to the Schedule C Charge and Government and Other Public Securities

CHAPTER 1

Principal provisions relating to the Schedule C charge

CHAPTER 2

Government and other public securities: interest payable without deduction of tax

CHAPTER 3

Government and other public securities: exemptions from tax

CHAPTER 4

Miscellaneous provisions

PART 4

Principal Provisions Relating to the Schedule D Charge

CHAPTER 1

Supplementary charging provisions

CHAPTER 2

Foreign dividends

CHAPTER 3

Income tax: basis of assessment under Cases I and II

CHAPTER 4

Income tax: basis of assessment under Cases III, IV and

CHAPTER 5

Computational provisions: corporation tax

CHAPTER 6

Computational provisions: general

CHAPTER 7

Special measures on discontinuance of, and change of sis of computation of profits or gains of, a trade or profession

CHAPTER 8

Taxation of rents and certain other payments

CHAPTER 9

Miscellaneous provisions

PART 5

Principal Provisions Relating to the Schedule E Charge

CHAPTER 1

Basis of assessment, persons chargeable and extent of charge

CHAPTER 2

Computational provisions

CHAPTER 3

Expenses allowances and provisions relating to the general benefits in kind charge

CHAPTER 4

Other benefit in kind charges

CHAPTER 5

Miscellaneous charging provisions

PART 6

Company Distributions, Tax Credits, Franked Investment Income and Advance Corporation Tax

CHAPTER 1

Taxation of company distributions

CHAPTER 2

Meaning of distribution

CHAPTER 3

Distributions and tax credits— general

CHAPTER 4

Distributions out of certain exempt profits or gains or out of certain relieved income

CHAPTER 5

Distributions out of certain income of manufacturing companies

CHAPTER 6

Distributions— supplemental

CHAPTER 7

Franked investment income

CHAPTER 8

Advance corporation tax

CHAPTER 9

Taxation of acquisition by a company of its own shares

PART 7

Income Tax and Corporation Tax Exemptions

CHAPTER 1

Income tax

CHAPTER 2

Corporation tax

CHAPTER 3

Income tax and corporation tax

PART 8

Annual Payments, Charges and Interest

CHAPTER 1

Annual payments

CHAPTER 2

Charges on income for corporation tax purposes

CHAPTER 3

Principal provisions relating to the payment of interest

CHAPTER 4

Interest payments by certain deposit takers

PART 9

Principal Provisions Relating to Relief for Capital Expenditure

CHAPTER 1

Industrial buildings or structures: industrial building allowances, writing-down allowances, balancing allowances and balancing charges

CHAPTER 2

Machinery or plant: initial allowances, wear and tear allowances, balancing allowances and balancing charges

CHAPTER 3

Dredging: initial allowances and annual allowances

CHAPTER 4

Miscellaneous and general

PART 10

Income Tax and Corporation Tax: Reliefs for Renewal and Improvement of Certain Urban Areas, Certain Resort Areas and Certain Islands

CHAPTER 1

Custom House Docks Area

CHAPTER 2

Temple Bar Area

CHAPTER 3

Designated areas, designated streets, enterprise areas and multi-storey car parks in certain urban areas

CHAPTER 4

Qualifying resort areas

CHAPTER 5

Designated islands

CHAPTER 6

Dublin Docklands Area

PART 11

Capital Allowances and Expenses for Certain Road Vehicles

PART 12

Principal Provisions Relating to Loss Relief, Treatment of Certain Losses and Capital Allowances, and Group Relief

CHAPTER 1

Income tax: loss relief

CHAPTER 2

Income tax: loss relief— treatment of capital allowances

CHAPTER 3

Corporation tax: loss relief

CHAPTER 4

Income tax and corporation tax: treatment of certain losses and certain capital allowances

CHAPTER 5

Group relief

PART 13

Close Companies

CHAPTER 1

Interpretation and general

CHAPTER 2

Additional matters to be treated as distributions, charges to tax in respect of certain loans and surcharges on certain undistributed income

PART 14

Taxation of Companies Engaged in Manufacturing Trades, Certain Trading Operations Carried on in Shannon Airport and Certain Trading Operations Carried on in the Custom House Docks Area

CHAPTER 1

Interpretation and general

CHAPTER 2

Principal provisions

PART 15

Personal Allowances and Reliefs and Certain Other Income Tax and Corporation Tax Reliefs

CHAPTER 1

Personal allowances and reliefs

CHAPTER 2

Income tax and corporation tax: reliefs applicable to both

CHAPTER 3

Corporation tax reliefs

PART 16

Income Tax Relief for Investment in Corporate Trades— Business Expansion Scheme and Seed Capital Scheme

PART 17

Profit Sharing Schemes and Employee Share Ownership Trusts

CHAPTER 1

Profit sharing schemes

CHAPTER 2

Employee share ownership trusts

PART 18

Payments in Respect of Professional Services By Certain Persons and Payments to Subcontractors in Certain Industries

CHAPTER 1

Payments in respect of professional services by certain persons

CHAPTER 2

Payments to subcontractors in certain industries TAXATION OF CHARGEABLE GAINS

PART 19

Principal Provisions Relating to Taxation of Chargeable Gains

CHAPTER 1

Assets and acquisitions and disposals of assets

CHAPTER 2

Computation of chargeable gains and allowable losses

CHAPTER 3

Assets held in a fiduciary or representative capacity inheritances and settlements

CHAPTER 4

Shares and securities

CHAPTER 5

Life assurance and deferred annuities

CHAPTER 6

Transfer of business assets

CHAPTER 7

Other reliefs and exemptions

PART 20

Companies' Chargeable Gains

CHAPTER 1

General

CHAPTER 2

Provisions where companies cease to be resident in the State

PART 21

Mergers, Divisions, Transfers Of Assets and Exchanges Of Shares Concerning Companies Of Different Member States TRANSACTIONS IN LAND

PART 22

Provisions Relating to Dealing in or Developing Land and Disposals of Development Land

CHAPTER 1

Income tax and corporation tax: profits or gains from dealing in or developing land

CHAPTER 2

Capital gains tax: disposals of development land OTHER SPECIAL PROVISIONS

PART 23

Farming and Market Gardening

CHAPTER 1

Interpretation and general

CHAPTER 2

Farming: relief for increase in stock values

PART 24

Taxation of Profits of Certain Mines and Petroleum Taxation

CHAPTER 1

Taxation of profits of certain mines

CHAPTER 2

Petroleum taxation

PART 25

Industrial and Provident Societies, Building Societies, and Trustee Savings Banks

CHAPTER 1

Industrial and provident societies

CHAPTER 2

Building societies

CHAPTER 3

Trustee savings banks

PART 26

Life Assurance Companies

CHAPTER 1

General provisions

CHAPTER 2

Special investment policies

CHAPTER 3

Provisions applying to overseas life assurance companies

PART 27

Unit Trusts and Offshore Funds

CHAPTER 1

Unit trusts

CHAPTER 2

Offshore funds

PART 28

Purchase and Sale of Securities

CHAPTER 1

Purchase and sale of securities

CHAPTER 2

Purchases of shares by financial concerns and persons exempted from tax, and restriction on relief for losses by repayment of tax in case of dividends paid out of accumulated profits

PART 29

Patents, Scientific and Certain Other Research, Know-How and Certain Training

CHAPTER 1

Patents

CHAPTER 2

Scientific and certain other research

CHAPTER 3

Know-how and certain training

PART 30

Occupational Pension Schemes, Retirement Annuities, Purchased Life Annuities and Certain Pensions

CHAPTER 1

Occupational pension schemes

CHAPTER 2

Retirement annuities

CHAPTER 3

Purchased life annuities

CHAPTER 4

Miscellaneous

PART 31

Taxation of Settlors, Etc., In Respect of Settled or Transferred Income

CHAPTER 1

Revocable dispositions for short periods and certain dispositions in favour of children

CHAPTER 2

Settlements on children generally

PART 32

Estates of Deceased Persons in Course of Administration and Surcharge on Certain Income of Trustees

CHAPTER 1

Estates of deceased persons in course of administration

CHAPTER 2

Surcharge on certain income of trustees

PART 33

Anti-Avoidance

CHAPTER 1

Transfer of assets abroad

CHAPTER 2

Miscellaneous

PART 34

Provisions Relating to the Residence of Individuals

PART 35

Double Taxation Relief

CHAPTER 1

Principal reliefs

CHAPTER 2

Miscellaneous

PART 36

Miscellaneous Special Provisions MANAGEMENT PROVISIONS

PART 37

Administration

PART 38

Returns of Income and Gains, Other Obligations and Returns, and Revenue Powers

CHAPTER 1

Income tax: returns of income

CHAPTER 2

Corporation tax: returns of profits

CHAPTER 3

Other obligations and returns

CHAPTER 4

Revenue powers

CHAPTER 5

Capital gains tax: returns, information, etc.

PART 39

Assessments

CHAPTER 1

Income tax and corporation tax

CHAPTER 2

Provision against double assessment and relief for error or mistake

CHAPTER 3

Capital gains tax

PART 40

Appeals

CHAPTER 1

Appeals against income tax and corporation tax assessments

CHAPTER 2

Appeals against capital gains tax assessments

CHAPTER 3

Miscellaneous

PART 41

Self Assessment

PART 42

Collection and Recovery

CHAPTER 1

Income tax

CHAPTER 2

Corporation tax

CHAPTER 3

Capital gains tax

CHAPTER 4

Collection and recovery of income tax on certain emoluments (PAYE system)

CHAPTER 5

Miscellaneous provisions

PART 43

Partnerships and European Economic Interest Groupings (EEIG)

PART 44

Married, Separated and Divorced Persons

CHAPTER 1

Income tax

CHAPTER 2

Capital gains tax

PART 45

Charging and Assessing of Non-Residents

CHAPTER 1

Income tax and corporation tax

CHAPTER 2

Capital gains tax

PART 46

Persons Chargeable in a Representative Capacity

CHAPTER 1

Income tax and corporation tax

CHAPTER 2

Capital gains tax

PART 47

Penalties, Revenue Offences, Interest on Overdue Tax and Other Sanctions

CHAPTER 1

Income tax and corporation tax penalties

CHAPTER 2

Other corporation tax penalties

CHAPTER 3

Capital gains tax penalties

CHAPTER 4

Revenue offences

CHAPTER 5

Interest on overdue tax

CHAPTER 6

Other sanctions

PART 48

Miscellaneous and Supplemental

PART 49

Commencement, Repeals, Transitional Provisions, Etc SCHEDULE 1 Supplementary Provisions Concerning the Extension of Charge to Tax to Profits and Income Derived From Activities Carried on and Employments Exercised on the Continental Shelf SCHEDULE 2 Machinery for Assessment, Charge and Payment of Tax Under Schedule C and, in Certain Cases, Schedule D SCHEDULE 3 Reliefs in Respect of Income Tax Charged on Payments on Retirement, Etc SCHEDULE 4 Exemption of Specified Non-Commercial State Sponsored Bodies From Certain Tax Provisions SCHEDULE 5 Description of Custom House Docks Area SCHEDULE 6 Description of Temple Bar Area SCHEDULE 7 Description of Certain Enterprise Areas SCHEDULE 8 Description of Qualifying Resort Areas SCHEDULE 9 Change in Ownership of Company: Disallowance of Trading Losses SCHEDULE 10 Relief for Investment in Corporate Trades: Subsidiaries SCHEDULE 11 Profit Sharing Schemes SCHEDULE 12 Employee Share Ownership Trusts SCHEDULE 13 Accountable Persons for purposes of Chapter 1 of Part 18 SCHEDULE 14 Capital Gains Tax: Leases SCHEDULE 15 List of Bodies for Purposes of

Section 610

SCHEDULE 16 Building Societies: Change of Status SCHEDULE 17 Reorganisation into Companies of Trustee Savings Banks SCHEDULE 18 Accounting for and Payment of Tax Deducted from Relevant Payments and Undistributed Relevant Income SCHEDULE 19 Offshore Funds: Distributing Funds SCHEDULE 20 Offshore Funds: Computation of Offshore Income Gains SCHEDULE 21 Purchase and Sale of Securities: Appropriate Amount in Respect of the Interest SCHEDULE 22 Dividends Regarded as Paid Out of Profits Accumulated Before Given Date SCHEDULE 23 Occupational Pension Schemes SCHEDULE 24 Relief from Income Tax and Corporation Tax by Means of Credit in Respect of Foreign Tax SCHEDULE 25 Convention Between the Government of Ireland and the Government of the United States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income SCHEDULE 26 Replacement of Harbour Authorities by Port Companies SCHEDULE 27 Forms of Declarations to be Made by Certain Persons SCHEDULE 28 Statements, Lists and Declarations SCHEDULE 29 Provisions Referred to in Sections 1052, 1053 and 1054 SCHEDULE 30 Repeals SCHEDULE 31 Consequential Amendments SCHEDULE 32 Transitional Provisions ARRANGEMENT OF SECTIONS INTERPRETATION AND BASIC CHARGING PROVISIONS

PART 1

Interpretation Section

Section 1

Interpretation of this Act.

Section 2

Interpretation of Tax Acts.

Section 3

Interpretation of Income Tax Acts.

Section 4

Interpretation of Corporation Tax Acts.

Section 5

Interpretation of Capital Gains Tax Acts.

Section 6

Construction of references to child in Tax Acts and Capital Gains Tax Acts.

Section 7

Application to certain taxing statutes of Age of Majority Act, 1985.

Section 8

Construction of certain taxing statutes in accordance with Status of Children Act, 1987.

Section 9

Subsidiaries.

Section 10

Connected persons.

Section 11

Meaning of “control” in certain contexts.

PART 2

The Charge to Tax

CHAPTER 1

Income tax

Section 12

The charge to income tax.

Section 13

Extension of charge to income tax to profits and income derived from activities carried on and employments exercised on the Continental Shelf.

Section 14

Fractions of a pound and yearly assessments.

Section 15

Rate of charge.

Section 16

Income tax charged by deduction.

Section 17

Schedule C.

Section 18

Schedule D.

Section 19

Schedule E.

Section 20

Schedule F.

CHAPTER 2

Corporation tax

Section 21

The charge to corporation tax and exclusion of income tax and capital gains tax.

Section 22

Reduced rate of corporation tax for certain income.

Section 23

Application of section 13 for purposes of corporation tax.

Section 24

Companies resident in the State: income tax on payments made or received.

Section 25

Companies not resident in the State.

Section 26

General scheme of corporation tax.

Section 27

Basis of, and periods for, assessment.

CHAPTER 3

Capital gains tax

Section 28

Taxation of capital gains and rate of charge.

Section 29

Persons chargeable.

Section 30

Partnerships.

Section 31

Amount chargeable.

INCOME TAX AND CORPORATION TAX: THE MAIN PROVISIONS

PART 3

Provisions Relating to the Schedule C Charge and Government and Other Public Securities

CHAPTER 1

Principal provisions relating to the Schedule C charge

Section 32

Interpretation (Chapter 1).

Section 33

Method of charge and payment.

Section 34

Stock, dividends or interest belonging to the State.

Section 35

Securities of foreign territories.

CHAPTER 2

Government and other public securities: interest payable without deduction of tax

Section 36

Government securities.

Section 37

Securities of certain State-owned companies.

Section 38

Certain State-guaranteed securities.

Section 39

Securities of certain European bodies.

Section 40

Securities of International Bank for Reconstruction and Development.

Section 41

Securities of designated bodies under the Securitisation (Proceeds of Certain Mortgages) Act, 1995.

CHAPTER 3

Government and other public securities: exemptions from tax

Section 42

Exemption of interest on savings certificates.

Section 43

Certain securities issued by Minister for Finance.

Section 44

Exemption from corporation tax of certain securities issued by Minister for Finance.

Section 45

Exemption of non-interest-bearing securities.

Section 46

Exemption of premiums on Investment Bonds.

Section 47

Certain securities of ACC Bank plc.

Section 48

Exemption of premiums on certain securities.

Section 49

Exemption of certain securities.

Section 50

Securities of Irish local authorities issued abroad.

CHAPTER 4

Miscellaneous provisions

Section 51

Funding bonds issued in respect of interest on certain debts.

PART 4

Principal Provisions Relating to the Schedule D Charge

CHAPTER 1

Supplementary charging provisions

Section 52

Persons chargeable.

Section 53

Cattle and milk dealers.

Section 54

Interest, etc. paid without deduction of tax under Schedule C.

Section 55

Taxation of strips of securities.

Section 56

Tax on quarries, mines and other concerns chargeable under Case I(b) of Schedule D

Section 57

Extension of charge to tax under Case III of Schedule D in certain circumstances.

Section 58

Charge to tax of profits or gains from unknown or unlawful source.

Section 59

Charge to tax of income from which tax has been deducted.

CHAPTER 2

Foreign dividends

Section 60

Interpretation (Chapter 2).

Section 61

Dividends entrusted for payment in the State.

Section 62

Dividends paid outside the State and proceeds of sale of dividend coupons.

Section 63

Exemption of dividends of non-residents.

Section 64

Interest on quoted Eurobonds.

CHAPTER 3

Income tax: basis of assessment under Cases I and II

Section 65

Cases I and II: basis of assessment.

Section 66

Special basis at commencement of trade or profession.

Section 67

Special basis on discontinuance of trade or profession.

Section 68

Short-lived businesses.

Section 69

Changes of proprietorship.

CHAPTER 4

Income tax: basis of assessment under Cases III, IV and V

Section 70

Case III: basis of assessment.

Section 71

Foreign securities and possessions.

Section 72

Charge to tax on sums applied outside the State in repaying certain loans.

Section 73

Income from certain possessions in Great Britain or Northern Ireland.

Section 74

Case IV: basis of assessment.

Section 75

Case V: basis of assessment.

CHAPTER 5

Computational provisions: corporation tax

Section 76

Computation of income: application of income tax principles.

Section 77

Miscellaneous special rules for computation of income

Section 78

Computation of companies' chargeable gains.

Section 79

Foreign currency: computation of income and chargeable gains.

Section 80

Taxation of certain foreign currencies.

CHAPTER 6

Computational provisions: general

Section 81

General rule as to deductions.

Section 82

Pre-trading expenditure.

Section 83

Expenses of management of investment companies.

Section 84

Expenses in relation to establishment or alteration of superannuation schemes.

Section 85

Deduction for certain industrial premises.

Section 86

Cost of registration of trade marks.

Section 87

Debts set off against profits and subsequently released.

Section 88

Deduction for gifts to Enterprise Trust Ltd.

CHAPTER 7

Special measures on discontinuance of, and change of basis of computation of profits or gains of, a trade or profession

Section 89

Valuation of trading stock at discontinuance of trade.

Section 90

Valuation of work in progress at discontinuance of profession.

Section 91

Receipts accruing after discontinuance of trade or profession.

Section 92

Receipts and losses accruing after change treated as discontinuance.

Section 93

Cash basis, etc: relief for certain individuals.

Section 94

Conventional basis: general charge on receipts after change of basis.

Section 95

Supplementary provisions as to tax under section 91 or 94.

CHAPTER 8

Taxation of rents and certain other payments

Section 96

Interpretation (Chapter 8).

Section 97

Computational rules and allowable deductions.

Section 98

Treatment of premiums, etc. as rent.

Section 99

Charge on assignment of lease granted at undervalue.

Section 100

Charge on sale of land with right to reconveyance.

Section 101

Relief for amount not received.

Section 102

Deduction by reference to premium, etc. paid in computation of profits for purposes of Schedule D, Cases I and II.

Section 103

Deduction by reference to premiums, etc. paid in computation of profits for purposes of this Chapter.

Section 104

Taxation of certain rents and other payments.

Section 105

Taxation of rents: restriction in respect of certain rent and interest.

Section 106

Tax treatment of receipts and outgoings on sale of premises.

CHAPTER 9

Miscellaneous provisions

Section 107

Apportionment of profits.

Section 108

Statement of profits.

Section 109

Payments in respect of redundancy.

Section 110

Securitisation of assets.

Section 111

Allowance to owner of let mineral rights for expenses of management of minerals.

PART 5

Principal Provisions Relating to the Schedule E Charge

CHAPTER 1

Basis of assessment, persons chargeable and extent of charge

Section 112

Basis of assessment, persons chargeable and extent of charge.

CHAPTER 2

Computational provisions

Section 113

Making of deductions.

Section 114

General rule as to deductions.

Section 115

Fixed deduction for certain classes of persons.

CHAPTER 3

Expenses allowances and provisions relating to the general benefits in kind charge

Section 116

Interpretation (Chapter 3).

Section 117

Expenses allowances.

Section 118

Benefits in kind: general charging provision.

Section 119

Valuation of benefits in kind.

Section 120

Unincorporated bodies, partnerships and individuals.

CHAPTER 4

Other benefit in kind charges

Section 121

Benefit of use of car.

Section 122

Preferential loan arrangements.

CHAPTER 5

Miscellaneous charging provisions

Section 123

General tax treatment of payments on retirement or removal from office or employment.

Section 124

Tax treatment of certain severance payments.

Section 125

Tax treatment of benefits received under permanent health benefit schemes.

Section 126

Tax treatment of certain benefits payable under Social Welfare Acts.

Section 127

Tax treatment of restrictive covenants.

Section 128

Tax treatment of directors of companies and employees granted rights to acquire shares or other assets.

PART 6

Company Distributions, Tax Credits, Franked Investment Income and Advance Corporation Tax

CHAPTER 1

Taxation of company distributions

Section 129

Irish resident company distributions not generally chargeable to corporation tax.

CHAPTER 2

Meaning of distribution

Section 130

Matters to be treated as distributions.

Section 131

Bonus issues following repayment of share capital.

Section 132

Matters to be treated or not treated as repayments of share capital.

Section 133

Limitation on meaning of “distribution”— general.

Section 134

Limitation on meaning of “distribution” in relation to certain payments made in respect of “foreign source” finance.

Section 135

Distributions: supplemental.

CHAPTER 3

Distributions and tax credits— general

Section 136

Tax credit for certain recipients of distributions.

Section 137

Disallowance of reliefs in respect of bonus issues.

Section 138

Treatment of dividends on certain preference shares.

Section 139

Dividends and other distributions at gross rate or of gross amount.

CHAPTER 4

Distributions out of certain exempt profits or gains or out of certain relieved income

Section 140

Distributions out of profits or gains from stallion fees, stud greyhound services fees and occupation of certain woodlands.

Section 141

Distributions out of income from patent royalties.

Section 142

Distributions out of profits of certain mines.

Section 143

Distributions out of profits from coal, gypsum and anhydrite mining operations.

Section 144

Distributions out of profits from trading within Shannon Airport.

Section 145

Distributions out of profits from export of certain goods.

Section 146

Provisions supplementary to section 145.

CHAPTER 5

Distributions out of certain income of manufacturing companies

Section 147

Distributions.

Section 148

Treatment of certain deductions in relation to relevant distributions.

Section 149

Dividends and other distributions at gross rate or of gross amount.

Section 150

Tax credit for recipients of certain distributions.

Section 151

Appeals.

CHAPTER 6

Distributions— supplemental

Section 152

Explanation of tax credit to be annexed to interest and dividend warrants.

Section 153

Distributions to non-residents.

Section 154

Attribution of distributions to accounting periods.

Section 155

Restriction of certain reliefs in respect of distributions out of certain exempt or relieved profits.

CHAPTER 7

Franked investment income

Section 156

Franked investment income and franked payments.

Section 157

Set-off of losses, etc. against franked investment income.

Section 158

Set-off of loss brought forward or terminal loss against franked investment income in the case of financial concerns.

CHAPTER 8

Advance corporation tax

Section 159

Liability for advance corporation tax.

Section 160

Set-off of advance corporation tax.

Section 161

Rectification of excessive set-off of advance corporation tax.

Section 162

Calculation of advance corporation tax where company receives distributions.

Section 163

Tax credit recovered from company.

Section 164

Restrictions as to payment of tax credit.

Section 165

Group dividends.

Section 166

Surrender of advance corporation tax.

Section 167

Change of ownership of company: calculation and treatment of advance corporation tax.

Section 168

Distributions to certain non-resident companies.

Section 169

Non-distributing investment companies.

Section 170

Interest in respect of certain securities.

Section 171

Returns, payment and collection of advance corporation tax.

Section 172

Application of Corporation Tax Acts.

CHAPTER 9

Taxation of acquisition by a company of its own shares

Section 173

Interpretation (Chapter 9).

Section 174

Taxation of dealer's receipts on purchase of shares by issuing company or by its subsidiary.

Section 175

Purchase of own shares by quoted company.

Section 176

Purchase of unquoted shares by issuing company or its subsidiary.

Section 177

Conditions as to residence and period of ownership.

Section 178

Conditions as to reduction of vendor's interest as shareholder.

Section 179

Conditions applicable where purchasing company is member of a group.

Section 180

Additional conditions.

Section 181

Relaxation of conditions in certain cases.

Section 182

Returns.

Section 183

Information.

Section 184

Treasury shares.

Section 185

Associated persons.

Section 186

Connected persons.

PART 7

Income Tax and Corporation Tax Exemptions

CHAPTER 1

Income tax

Section 187

Exemption from income tax and associated marginal relief.

Section 188

Age exemption and associated marginal relief.

Section 189

Payments in respect of personal injuries.

Section 190

Certain payments made by the Haemophilia HIV Trust.

Section 191

Taxation treatment of Hepatitis C compensation payments.

Section 192

Payments in respect of thalidomide children.

Section 193

Income from scholarships.

Section 194

Child benefit.

Section 195

Exemption of certain earnings of writers, composers and artists.

Section 196

Expenses of members of judiciary.

Section 197

Bonus or interest paid under instalment savings schemes.

Section 198

Certain interest not to be chargeable.

Section 199

Interest on certain securities.

Section 200

Certain foreign pensions.

Section 201

Exemptions and reliefs in respect of tax under section 123.

Section 202

Relief for agreed pay restructuring.

Section 203

Payments in respect of redundancy.

Section 204

Military and other pensions, gratuities and allowances.

Section 205

Veterans of War of Independence.

Section 206

Income from investments under Social Welfare (Consolidation) Act, 1993.

Section 207

Rents of properties belonging to hospitals and other charities.

Section 208

Lands owned and occupied, and trades carried on by, charities.

Section 209

Bodies for the promotion of Universal Declaration of Human Rights and the implementation of European Convention for the Protection of Human Rights and Fundamental Freedoms.

Section 210

The Great Book of Ireland Trust.

Section 211

Friendly societies.

Section 212

Credit unions.

Section 213

Trade unions.

Section 214

Local authorities, etc.

Section 215

Certain profits of agricultural societies.

Section 216

Profits from lotteries.

CHAPTER 2

Corporation tax

Section 217

Certain income of Nítrigin Éireann Teoranta.

Section 218

Certain income of Housing Finance Agency plc.

Section 219

Income of body designated under Irish Takeover Panel Act, 1997.

Section 220

Profits of certain bodies corporate.

Section 221

Certain payments to National Co-operative Farm Relief Services Ltd and certain payments made to its members.

Section 222

Certain dividends from a non-resident subsidiary.

CHAPTER 3

Income tax and corporation tax

Section 223

Small enterprise grants.

Section 224

Grants to medium and large industrial undertakings.

Section 225

Employment grants.

Section 226

Certain employment grants and recruitment subsidies.

Section 227

Certain income arising to specified non-commercial state-sponsored bodies.

Section 228

Income arising to designated bodies under the Securitisation (Proceeds of Certain Mortgages) Act, 1995.

Section 229

Harbour authorities and port companies.

Section 230

National Treasury Management Agency.

Section 231

Profits or gains from stallion fees.

Section 232

Profits from occupation of certain woodlands.

Section 233

Stud greyhound service fees.

Section 234

Certain income derived from patent royalties.

Section 235

Bodies established for promotion of athletic or amateur games or sports.

Section 236

Loan of certain art objects.

PART 8

Annual Payments, Charges and Interest

CHAPTER 1

Annual payments

Section 237

Annual payments payable wholly out of taxed income.

Section 238

Annual payments not payable out of taxed income.

Section 239

Income tax on payments by resident companies.

Section 240

Provisions as to tax under section 239.

Section 241

Income tax on payments by non-resident companies.

Section 242

Annual payments for non-taxable consideration.

CHAPTER 2

Charges on income for corporation tax purposes

Section 243

Allowance of charges on income.

CHAPTER 3

Principal provisions relating to the payment of interest

Section 244

Relief for interest paid on certain home loans.

Section 245

Relief for certain bridging loans.

Section 246

Interest payments by companies and to non-residents.

Section 247

Relief to companies on loans applied in acquiring interest in other companies.

Section 248

Relief to individuals on loans applied in acquiring interest in companies.

Section 249

Rules relating to recovery of capital and replacement loans.

Section 250

Extension of relief under section 248 to certain individuals in relation to loans applied in acquiring interest in certain companies.

Section 251

Restriction of relief to individuals on loans applied in acquiring shares in companies where a claim for “BES relief” or “film relief” is made in respect of amount subscribed for shares.

Section 252

Restriction of relief to individuals on loans applied in acquiring interest in companies which become quoted companies.

Section 253

Relief to individuals on loans applied in acquiring interest in partnerships.

Section 254

Interest on borrowings to replace capital withdrawn in certain circumstances from a business.

Section 255

Arrangements for payment of interest less tax or of fixed net amount.

CHAPTER 4

Interest payments by certain deposit takers

Section 256

Interpretation (Chapter 4).

Section 257

Deduction of tax from relevant interest.

Section 258

Returns and collection of appropriate tax.

Section 259

Alternative amount on account of appropriate tax.

Section 260

Provisions supplemental to sections 258 and 259.

Section 261

Taxation of relevant interest, etc.

Section 262

Statement furnished by relevant deposit taker.

Section 263

Declarations relating to deposits of non-residents.

Section 264

Conditions and declarations relating to special savings accounts.

Section 265

Declarations by companies and pension schemes.

Section 266

Declarations relating to deposits of charities.

Section 267

Repayment of appropriate tax in certain cases.

PART 9

Principal Provisions Relating to Relief for Capital Expenditure

CHAPTER 1

Industrial buildings or structures: industrial building allowances, writing-down allowances, balancing allowances and balancing charges

Section 268

Meaning of “industrial building or structure”.

Section 269

Meaning of “the relevant interest”.

Section 270

Meaning of “expenditure on construction of building or structure”.

Section 271

Industrial building allowances.

Section 272

Writing-down allowances.

Section 273

Acceleration of writing-down allowances in respect of certain expenditure on certain industrial buildings or structures.

Section 274

Balancing allowances and balancing charges.

Section 275

Restriction of balancing allowances on sale of industrial building or structure.

Section 276

Application of sections 272 and 274 in relation to capital expenditure on refurbishment.

Section 277

Writing off of expenditure and meaning of “residue of expenditure”.

Section 278

Manner of making allowances and charges.

Section 279

Purchases of certain buildings or structures.

Section 280

Temporary disuse of building or structure.

Section 281

Special provisions in regard to leases.

Section 282

Supplementary provisions (Chapter 1).

CHAPTER 2

Machinery or plant: initial allowances, wear and tear allowances, balancing allowances and balancing charges

Section 283

Initial allowances.

Section 284

Wear and tear allowances.

Section 285

Acceleration of wear and tear allowances.

Section 286

Increased wear and tear allowances for taxis and cars for short-term hire.

Section 287

Wear and tear allowances deemed to have been made in certain cases.

Section 288

Balancing allowances and balancing charges.

Section 289

Calculation of balancing allowances and balancing charges in certain cases.

Section 290

Option in case of replacement.

Section 291

Computer software.

Section 292

Meaning of “amount still unallowed”.

Section 293

Application to partnerships.

Section 294

Machinery or plant used partly for non-trading purposes.

Section 295

Option in case of succession under will or intestacy.

Section 296

Balancing allowances and balancing charges: wear and tear allowances deemed to have been made in certain cases.

Section 297

Subsidies towards wear and tear.

Section 298

Allowances to lessors.

Section 299

Allowances to lessees.

Section 300

Manner of making allowances and charges.

Section 301

Application to professions, employments and offices.

CHAPTER 3

Dredging: initial allowances and annual allowances

Section 302

Interpretation (Chapter 3).

Section 303

Allowances for expenditure on dredging.

CHAPTER 4

Miscellaneous and general

Section 304

Income tax: allowances and charges in taxing a trade, etc.

Section 305

Income tax: manner of granting, and effect of, allowances made by means of discharge or repayment of tax.

Section 306

Meaning of basis period.

Section 307

Corporation tax: allowances and charges in taxing a trade.

Section 308

Corporation tax: manner of granting, and effect of, allowances made by means of discharge or repayment of tax.

Section 309

Companies not resident in the State.

Section 310

Allowances in respect of certain contributions to capital expenditure of local authorities.

Section 311

Apportionment of consideration and exchanges and surrenders of leasehold interests.

Section 312

Special provisions as to certain sales.

Section 313

Effect, in certain cases, of succession to trade, etc.

Section 314

Procedure on apportionment.

Section 315

Property used for purposes of “exempted trading operations”.

Section 316

Interpretation of certain references to expenditure and time when expenditure is incurred.

Section 317

Treatment of grants.

Section 318

Meaning of “sale, insurance, salvage or compensation moneys”.

Section 319

Adjustment of allowances by reference to value-added tax.

Section 320

Other interpretation (Part 9).

Section 321

Provisions of general application in relation to the making of allowances and charges.

PART 10

Income Tax and Corporation Tax: Reliefs for Renewal and Improvement of Certain Urban Areas, Certain Resort Areas and Certain Islands

CHAPTER 1

Custom House Docks Area

Section 322

Interpretation (Chapter 1).

Section 323

Capital allowances in relation to construction of certain commercial premises.

Section 324

Double rent allowance in respect of rent paid for certain business premises.

Section 325

Rented residential accommodation: deduction for certain expenditure on construction.

Section 326

Rented residential accommodation: deduction for certain expenditure on conversion.

Section 327

Rented residential accommodation: deduction for certain expenditure on refurbishment.

Section 328

Residential accommodation: allowance to owner-occupiers in respect of certain expenditure on construction or refurbishment.

Section 329

Provisions supplementary to sections 325 to 328.

CHAPTER 2

Temple Bar Area

Section 330

Interpretation (Chapter 2).

Section 331

Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures.

Section 332

Capital allowances in relation to construction or refurbishment of certain commercial premises.

Section 333

Double rent allowance in respect of rent paid for certain business premises.

Section 334

Rented residential accommodation: deduction for certain expenditure on construction.

Section 335

Rented residential accommodation: deduction for certain expenditure on conversion.

Section 336

Rented residential accommodation: deduction for certain expenditure on refurbishment.

Section 337

Residential accommodation: allowance to owner-occupiers in respect of certain expenditure on construction or refurbishment.

Section 338

Provisions supplementary to sections 334 to 337.

CHAPTER 3

Designated areas, designated streets, enterprise areas and multi-storey car parks in certain urban areas

Section 339

Interpretation (Chapter 3).

Section 340

Designated areas, designated streets and enterprise areas.

Section 341

Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures.

Section 342

Capital allowances in relation to construction or refurbishment of certain commercial premises.

Section 343

Capital allowances in relation to construction or refurbishment of certain buildings or structures in enterprise areas.

Section 344

Capital allowances in relation to construction or refurbishment of certain multi-storey car parks.

Section 345

Double rent allowance in respect of rent paid for certain business premises.

Section 346

Rented residential accommodation: deduction for certain expenditure on construction.

Section 347

Rented residential accommodation: deduction for certain expenditure on conversion.

Section 348

Rented residential accommodation: deduction for certain expenditure on refurbishment.

Section 349

Residential accommodation: allowance to owner-occupiers in respect of certain expenditure on construction or refurbishment.

Section 350

Provisions supplementary to sections 346 to 349.

CHAPTER 4

Qualifying resort areas

Section 351

Interpretation (Chapter 4).

Section 352

Accelerated capital allowances in relation to the construction or refurbishment of certain industrial buildings or structures.

Section 353

Capital allowances in relation to the construction or refurbishment of certain commercial premises.

Section 354

Double rent allowance in respect of rent paid for certain business premises.

Section 355

Disclaimer of capital allowances on holiday cottages, holiday apartments, etc.

Section 356

Rented residential accommodation: deduction for certain expenditure on construction.

Section 357

Rented residential accommodation: deduction for certain expenditure on conversion.

Section 358

Rented residential accommodation: deduction for certain expenditure on refurbishment.

Section 359

Provisions supplementary to sections 356 to 358.

CHAPTER 5

Designated islands

Section 360

Interpretation (Chapter 5).

Section 361

Rented residential accommodation: deduction for certain expenditure on construction.

Section 362

Rented residential accommodation: deduction for certain expenditure on conversion.

Section 363

Rented residential accommodation: deduction for certain expenditure on refurbishment.

Section 364

Residential accommodation: allowance to owner-occupiers in respect of certain expenditure on construction or refurbishment.

Section 365

Provisions supplementary to sections 360 to 364.

CHAPTER 6

Dublin Docklands Area

Section 366

Interpretation (Chapter 6).

Section 367

Qualifying areas.

Section 368

Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures.

Section 369

Capital allowances in relation to construction or refurbishment of certain commercial premises.

Section 370

Double rent allowance in respect of rent paid for certain business premises.

Section 371

Residential accommodation: allowance to owner-occupiers in respect of certain expenditure on construction or refurbishment.

Section 372

Provisions supplementary to section 371.

PART 11

Capital Allowances and Expenses for Certain Road Vehicles

Section 373

Interpretation (Part 11).

Section 374

Capital allowances for cars costing over certain amount.

Section 375

Limit on renewals allowance for cars.

Section 376

Restriction of deduction in respect of running expenses of cars.

Section 377

Limit on deductions, etc. for hiring cars.

Section 378

Cars: provisions as to hire-purchase, etc.

Section 379

Cars: provisions where hirer becomes owner.

Section 380

Provisions supplementary to sections 374 to 379.

PART 12

Principal Provisions Relating to Loss Relief, Treatment of Certain Losses and Capital Allowances, and Group Relief

CHAPTER 1

Income tax: loss relief

Section 381

Right to repayment of tax by reference to losses.

Section 382

Right to carry forward losses to future years.

Section 383

Relief under Case IV for losses.

Section 384

Relief under Case V for losses.

Section 385

Terminal loss.

Section 386

Determination of terminal loss.

Section 387

Calculation of amount of profits or gains for purposes of terminal loss.

Section 388

Meaning of “permanently discontinued” for purposes of terminal loss.

Section 389

Determination of claim for terminal loss.

Section 390

Amount of assessment made under section 238 to be allowed as a loss for certain purposes.

CHAPTER 2

Income tax: loss relief— treatment of capital allowances

Section 391

Interpretation (Chapter 2).

Section 392

Option to treat capital allowances as creating or augmenting a loss.

Section 393

Extent to which capital allowances to be taken into account for purposes of section 392.

Section 394

Effect of giving relief under section 381 by reference to capital allowances.

Section 395

Relief affected by subsequent changes of law, etc.

CHAPTER 3

Corporation tax: loss relief

Section 396

Relief for trading losses other than terminal losses.

Section 397

Relief for terminal loss in a trade.

Section 398

Computation of losses attributable to exemption of income from certain securities.

Section 399

Losses in transactions from which income would be chargeable under Case IV or V of Schedule D.

Section 400

Company reconstructions without change of ownership.

Section 401

Change in ownership of company: disallowance of trading losses.

CHAPTER 4

Income tax and corporation tax: treatment of certain losses and certain capital allowances

Section 402

Foreign currency: tax treatment of capital allowances and trading losses of a company.

Section 403

Restriction on use of capital allowances for certain leased assets.

Section 404

Restriction on use of capital allowances for certain leased machinery or plant.

Section 405

Restriction on use of capital allowances on holiday cottages.

Section 406

Corporation tax: restriction on use of capital allowances on fixtures and fittings for furnished residential accommodation.

Section 407

Restriction on use of losses and capital allowances for qualifying shipping trade.

Section 408

Restriction on tax incentives on property investment.

Section 409

Capital allowances: room ownership schemes.

CHAPTER 5

Group relief

Section 410

Group payments.

Section 411

Surrender of relief between members of groups and consortia.

Section 412

Qualification for entitlement to group relief.

Section 413

Profits or assets available for distribution.

Section 414

Meaning of “the profit distribution”.

Section 415

Meaning of “the notional winding up”.

Section 416

Limited right to profits or assets.

Section 417

Diminished share of profits or assets.

Section 418

Beneficial percentage.

Section 419

The relevant accounting period, etc.

Section 420

Losses, etc. which may be surrendered by means of group relief.

Section 421

Relation of group relief to other relief.

Section 422

Corresponding accounting periods.

Section 423

Company joining or leaving group or consortium.

Section 424

Effect of arrangements for transfer of company to another group, etc.

Section 425

Leasing contracts: effect on claims for losses of company reconstructions.

Section 426

Partnerships involving companies: effect of arrangements for transferring relief.

Section 427

Information as to arrangements for transferring relief, etc.

Section 428

Exclusion of double allowances, etc.

Section 429

Claims and adjustments.

PART 13

Close Companies

CHAPTER 1

Interpretation and general

Section 430

Meaning of “close company”.

Section 431

Certain companies with quoted shares not to be close companies.

Section 432

Meaning of “associated company” and “control”.

Section 433

Meaning of “participator”, 5associate”, “director” and “loan creditor”.

Section 434

Distributions to be taken into account and meaning of “distributable income”, “investment income”, “estate income”, etc.

Section 435

Information.

CHAPTER 2

Additional matters to be treated as distributions, charges to tax in respect of certain loans and surcharges on certain undistributed income

Section 436

Certain expenses for participators and associates.

Section 437

Interest paid to directors and directors' associates.

Section 438

Loans to participators, etc.

Section 439

Effect of release, etc. of debt in respect of loan under section 438.

Section 440

Surcharge on undistributed investment and estate income.

Section 441

Surcharge on undistributed income of service companies.

PART 14

Taxation of Companies Engaged in Manufacturing Trades, Certain Trading Operations Carried On in Shannon Airport and Certain Trading Operations Carried on in the Custom House Docks Area

CHAPTER 1

Interpretation and general

Section 442

Interpretation (Part 14).

Section 443

Meaning of “goods”.

Section 444

Exclusion of mining and construction operations.

Section 445

Certain trading operations carried on in Shannon Airport.

Section 446

Certain trading operations carried on in Custom House Docks Area.

Section 447

Appeals.

CHAPTER 2

Principal provisions

Section 448

Relief from corporation tax.

Section 449

Credit for foreign tax not otherwise credited.

Section 450

Double taxation relief.

Section 451

Treatment of income and gains of certain trading operations carried on in Custom House Docks Area from investments held outside the State.

Section 452

Application of section 130 to certain interest.

Section 453

Transactions between associated persons.

Section 454

Restriction of certain charges on income.

Section 455

Restriction of certain losses.

Section 456

Restriction of group relief.

Section 457

Application of section 448 where profits are charged to corporation tax at the reduced rate.

PART 15

Personal Allowances and Reliefs and Certain Other Income Tax and Corporation Tax Reliefs

CHAPTER 1

Personal allowances and reliefs

Section 458

Deductions allowed in ascertaining taxable income and provisions relating to reductions in tax.

Section 459

General provisions relating to allowances, deductions and reliefs.

Section 460

Rate of tax at which repayments are to be made.

Section 461

Married and single personal allowances.

Section 462

Additional amount for widowed parents and other single parents.

Section 463

Special allowance for widowed parent following death of spouse.

Section 464

Age allowance.

Section 465

Incapacitated children.

Section 466

Dependent relative.

Section 467

Employed person taking care of incapacitated individual.

Section 468

Relief for blind persons.

Section 469

Relief for health expenses.

Section 470

Relief for insurance against expenses of illness.

Section 471

Relief for contributions to permanent health benefit schemes.

Section 472

Employee allowance.

Section 473

Allowance for rent paid by certain tenants.

Section 474

Relief for fees paid to private colleges for full-time third level education.

Section 475

Relief for fees paid for part-time third level education.

Section 476

Refief for fees paid for training courses.

Section 477

Relief for service charges.

Section 478

Relief for payments made by certain persons in respect of alarm systems.

Section 479

Relief for new shares purchased on issue by employees.

Section 480

Relief for certain sums chargeable under Schedule E.

CHAPTER 2

Income tax and corporation tax: reliefs applicable to both

Section 481

Relief for investment in films.

Section 482

Relief for expenditure on significant buildings and gardens.

Section 483

Relief for certain gifts.

Section 484

Relief for gifts for education in the arts.

Section 485

Relief for gifts to third-level institutions.

CHAPTER 3

Corporation tax reliefs

Section 486

Corporation tax: relief for gifts to First Step.

Section 487

Corporation tax: credit for bank levy.

PART 16

Income Tax Relief for Investment in Corporate Trades— Business Expansion Scheme and Seed Capital Scheme

Section 488

Interpretation (Part 16).

Section 489

The relief.

Section 490

Limits on the relief.

Section 491

Restriction on relief where amounts raised exceed permitted maximum.

Section 492

Certification in respect of an issue of eligible shares where aggregate of amounts raised by a company exceeds £250,000.

Section 493

Individuals qualifying for relief.

Section 494

Specified individuals.

Section 495

Qualifying companies.

Section 496

Qualifying trades.

Section 497

Relevant trading operations.

Section 498

Disposals of shares.

Section 499

Value received from company.

Section 500

Replacement capital.

Section 501

Value received by persons other than claimants.

Section 502

Prevention of misuse.

Section 503

Claims.

Section 504

Assessments for withdrawing relief.

Section 505

Information.

Section 506

Capital gains tax.

Section 507

Application to subsidiaries.

Section 508

Nominees and designated funds.

PART 17

Profit Sharing Schemes and Employee Share Ownership Trusts

CHAPTER 1

Profit sharing schemes

Section 509

Interpretation (Chapter 1).

Section 510

Approved profit sharing schemes: appropriated shares.

Section 511

The period of retention, release date and appropriate percentage.

Section 512

Disposals of scheme shares.

Section 513

Capital receipts in respect of scheme shares.

Section 514

Company reconstructions, amalgamations, etc.

Section 515

Excess or unauthorised shares.

Section 516

Assessment of trustees in respect of sums received.

Section 517

Payments to trustees of approved profit sharing scheme.

Section 518

Costs of establishing profit sharing schemes.

CHAPTER 2

Employee share ownership trusts

Section 519

Employee share ownership trusts.

PART 18

Payments In Respect of Professional Services by Certain Persons and Payments to Subcontractors in Certain Industries

CHAPTER 1

Payments in respect of professional services by certain persons

Section 520

Interpretation (Chapter 1).

Section 521

Accountable persons.

Section 522

Obligation on authorised insurers.

Section 523

Deduction of tax from relevant payments.

Section 524

Identification of, and issue of documents to, specified persons.

Section 525

Returns and collection of appropriate tax.

Section 526

Credit for appropriate tax borne.

Section 527

Interim refunds of appropriate tax.

Section 528

Apportionment of credits or interim refunds of appropriate tax.

Section 529

Limitation on credits or interim refunds of appropriate tax.

CHAPTER 2

Payments to subcontractors in certain industries

Section 530

Interpretation (Chapter 2).

Section 531

Payments to subcontractors in certain industries.

TAXATION OF CHARGEABLE GAINS

PART 19

Principal Provisions Relating to Taxation of Chargeable Gains

CHAPTER 1

Assets and acquisitions and disposals of assets

Section 532

Assets.

Section 533

Location of assets.

Section 534

Disposals of assets.

Section 535

Disposals where capital sums derived from assets.

Section 536

Capital sums: receipt of compensation and insurance moneys not treated as a disposal in certain cases.

Section 537

Mortgages and charges not to be treated as disposals.

Section 538

Disposals where assets lost or destroyed or become of negligible value.

Section 539

Disposals in cases of hire purchase and similar transactions.

Section 540

Options and forfeited deposits.

Section 541

Debts.

Section 542

Time of disposal and acquisition.

Section 543

Transfers of value derived from assets.

CHAPTER 2

Computation of chargeable gains and allowable losses

Section 544

Interpretation and general (Chapter 2).

Section 545

Chargeable gains.

Section 546

Allowable losses.

Section 547

Disposals and acquisitions treated as made at market value.

Section 548

Valuation of assets.

Section 549

Transactions between connected persons.

Section 550

Assets disposed of in series of transactions.

Section 551

Exclusion from consideration for disposals of sums chargeable to income tax.

Section 552

Acquisition, enhancement and disposal costs.

Section 553

Interest charged to capital.

Section 554

Exclusion of expenditure by reference to income tax.

Section 555

Restriction of losses by reference to capital allowances and renewals allowances.

Section 556

Adjustment of allowable expenditure by reference to consumer price index.

Section 557

Part disposals.

Section 558

Part disposals before 6th day of April, 1978.

Section 559

Assets derived from other assets.

Section 560

Wasting assets.

Section 561

Wasting assets qualifying for capital allowances.

Section 562

Contingent liabilities.

Section 563

Consideration due after time of disposal.

Section 564

Woodlands.

Section 565

Expenditure reimbursed out of public money.

Section 566

Leases.

CHAPTER 3

Assets held in a fiduciary or representative capacity, inheritances and settlements

Section 567

Nominees, bare trustees and agents.

Section 568

Liability of trustees, etc.

Section 569

Assets of insolvent person.

Section 570

Company in liquidation.

Section 571

Chargeable gains accruing on disposals by liquidators and certain other persons.

Section 572

Funds in court.

Section 573

Death.

Section 574

Trustees of settlement.

Section 575

Gifts in settlement.

Section 576

Person becoming absolutely entitled to settled property.

Section 577

Termination of life interest on death of person entitled.

Section 578

Death of annuitant.

Section 579

Non-resident trusts.

CHAPTER 4

Shares and securities

Section 580

Shares, securities, etc: identification.

Section 581

Disposals of shares or securities within 4 weeks of acquisition.

Section 582

Calls on shares.

Section 583

Capital distributions by companies.

Section 584

Reorganisation or reduction of share capital.

Section 585

Conversion of securities.

Section 586

Company amalgamations by exchange of shares.

Section 587

Company reconstructions and amalgamations.

Section 588

Demutualisation of assurance companies.

Section 589

Shares in close company transferring assets at undervalue.

Section 590

Attribution to shareholders of chargeable gains accruing to non-resident company.

Section 591

Relief for individuals on certain reinvestment.

Section 592

Reduced rate of capital gains tax on certain disposals of shares by individuals.

CHAPTER 5

Life assurance and deferred annuities

Section 593

Life assurance and deferred annuities.

Section 594

Foreign life assurance and deferred annuities: taxation and returns.

Section 595

Life assurance policy or deferred annuity contract entered into or acquired by company.

CHAPTER 6

Transfer of business assets

Section 596

Appropriations to and from stock in trade.

Section 597

Replacement of business and other assets.

Section 598

Disposals of business or farm on “retirement”.

Section 599

Disposals within family of business or farm.

Section 600

Transfer of business to company.

CHAPTER 7

Other reliefs and exemptions

Section 601

Annual exempt amount.

Section 602

Chattel exemption.

Section 603

Wasting chattels.

Section 604

Disposals of principal private residence.

Section 605

Disposals to authority possessing compulsory purchase powers.

Section 606

Disposals of work of art, etc., loaned for public display.

Section 607

Government and certain other securities.

Section 608

Superannuation funds.

Section 609

Charities.

Section 610

Other bodies.

Section 611

Disposals to State, public bodies and charities.

Section 612

Scheme for retirement of farmers.

Section 613

Miscellaneous exemptions for certain kinds of property.

PART 20

Companies' Chargeable Gains

CHAPTER 1

General

Section 614

Capital distribution derived from chargeable gain of company: recovery of tax from shareholder.

Section 615

Company reconstruction or amalgamation: transfer of assets.

Section 616

Groups of companies: interpretation.

Section 617

Transfers of assets, other than trading stock, within group.

Section 618

Transfers of trading stock within group.

Section 619

Disposals or acquisitions outside group.

Section 620

Replacement of business assets by members of group.

Section 621

Depreciatory transactions in group.

Section 622

Dividend stripping.

Section 623

Company ceasing to be member of group.

Section 624

Exemption from charge under section 623 in case of certain mergers.

Section 625

Shares in subsidiary member of group.

Section 626

Tax on company recoverable from other members of group.

CHAPTER 2

Provisions where companies cease to be resident in the State

Section 627

Deemed disposal of assets.

Section 628

Postponement of charge on deemed disposal under section 627.

Section 629

Tax on non-resident company recoverable from another member of group or from controlling director.

PART 21

Mergers, Divisions, Transfers of Assets and Exchanges of Shares Concerning Companies of Different Member States

Section 630

Interpretation (Part 21).

Section 631

Transfer of assets generally.

Section 632

Transfer of assets by company to its parent company.

Section 633

Company reconstruction or amalgamation: transfer of development land.

Section 634

Credit for tax.

Section 635

Avoidance of tax.

Section 636

Returns.

Section 637

Other transactions.

Section 638

Apportionment of amounts.

TRANSACTIONS IN LAND

PART 22

Provisions Relating to Dealing In or Developing Land and Disposals of Development Land

CHAPTER 1

Income tax and corporation tax: profits or gains from dealing in or developing land

Section 639

Interpretation (Chapter 1).

Section 640

Extension of charge under Case I of Schedule D to certain profits from dealing in or developing land.

Section 641

Computation under Case I of Schedule D of profits or gains from dealing in or developing land.

Section 642

Transfers of interests in land between certain associated persons.

Section 643

Tax to be charged under Case IV on gains from certain disposals of land.

Section 644

Provisions supplementary to section 643.

Section 645

Power to obtain information.

Section 646

Postponement of payment of income tax to be permitted in certain cases.

Section 647

Postponement of payment of corporation tax to be permitted in certain cases.

CHAPTER 2

Capital gains tax: disposals of development land

Section 648

Interpretation (Chapter 2).

Section 649

Companies chargeable to capital gains tax in respect of chargeable gains accruing on relevant disposals.

Section 650

Exclusion of certain disposals.

Section 651

Restriction of indexation relief in relation to relevant disposals.

Section 652

Non-application of reliefs on replacement of assets in case of relevant disposals.

Section 653

Restriction of relief for losses, etc. in relation to relevant disposals.

OTHER SPECIAL PROVISIONS

PART 23

Farming and Market Gardening

CHAPTER 1

Interpretation and general

Section 654

Interpretation (Part 23).

Section 655

Farming and market gardening profits to be charged to tax under Schedule D.

Section 656

Farming: trading stock of discontinued trade.

Section 657

Averaging of farm profits.

Section 658

Farming: allowances for capital expenditure on construction of buildings and other works.

Section 659

Farming: allowances for capital expenditure on the construction of farm buildings, etc. for control of pollution.

Section 660

Farming: wear and tear allowances deemed to have been made in certain cases.

Section 661

Farming: restriction of relief in respect of certain losses.

Section 662

Income tax: restriction of relief for losses in farming or market gardening.

Section 663

Corporation tax: restriction of relief for losses in farming or market gardening.

Section 664

Relief for certain income from leasing of farm land.

CHAPTER 2

Farming: relief for increase in stock values

Section 665

Interpretation (Chapter 2).

Section 666

Deduction for increase in stock values.

Section 667

Special provisions for qualifying farmers.

Section 668

Compulsory disposals of livestock.

Section 669

Supplementary provisions (Chapter 2).

PART 24

Taxation of Profits of Certain Mines and Petroleum Taxation

CHAPTER 1

Taxation of profits of certain mines

Section 670

Mine development allowance.

Section 671

Marginal coal mine allowance.

Section 672

Interpretation (sections 672 to 683).

Section 673

Allowance in respect of development expenditure and exploration expenditure.

Section 674

Expenditure on abortive exploration.

Section 675

Exploration expenditure incurred by certain bodies corporate.

Section 676

Expenditure incurred by person not engaged in trade of mining.

Section 677

Investment allowance in respect of exploration expenditure.

Section 678

Allowance for machinery and plant.

Section 679

Exploration expenditure.

Section 680

Annual allowance for mineral depletion.

Section 681

Allowance for mine rehabilitation expenditure.

Section 682

Marginal mine allowance.

Section 683

Charge to tax on sums received from sale of scheduled mineral assets.

CHAPTER 2

Petroleum taxation

Section 684

Interpretation (Chapter 2).

Section 685

Separation of trading activities.

Section 686

Reduction of corporation tax.

Section 687

Treatment of losses.

Section 688

Treatment of group relief.

Section 689

Restriction of relief for losses on certain disposals.

Section 690

Interest and charges on income.

Section 691

Restriction of set-off of advance corporation tax.

Section 692

Development expenditure: allowances and charges.

Section 693

Exploration expenditure: allowances and charges.

Section 694

Exploration expenditure incurred by certain companies.

Section 695

Abandonment expenditure: allowances and loss relief.

Section 696

Valuation of petroleum in certain circumstances.

Section 697

Treatment of certain disposals.

PART 25

Industrial and Provident Societies, Building Societies, and Trustee Savings Banks

CHAPTER 1

Industrial and provident societies

Section 698

Interpretation (Chapter 1).

Section 699

Deduction as expenses of certain sums, etc.

Section 700

Special computational provisions.

Section 701

Transfer of shares held by certain societies to members of society.

CHAPTER 2

Building societies

Section 702

Union or amalgamation of, transfer of engagement between, societies.

Section 703

Change of status of society.

CHAPTER 3

Trustee savings banks

Section 704

Amalgamation of trustee savings banks.

Section 705

Reorganisation of trustee savings banks into companies.

PART 26

Life Assurance Companies

CHAPTER 1

General provisions

Section 706

Interpretation and general (Part 26).

Section 707

Management expenses.

Section 708

Acquisition expenses.

Section 709

Companies carrying on life business.

Section 710

Profits of life business.

Section 711

Chargeable gains of life business.

Section 712

Distributions received from Irish resident companies.

Section 713

Investment income reserved for policy holders.

Section 714

Life business: computation of profits.

Section 715

Annuity business: separate charge on profits.

Section 716

General annuity business.

Section 717

Pension business.

Section 718

Foreign life assurance funds.

Section 719

Deemed disposal and reacquisition of certain assets.

Section 720

Gains or losses arising by virtue of section 719.

Section 721

Life policies carrying rights not in money.

Section 722

Benefits from life policies issued before 6th April, 1974.

CHAPTER 2

Special investment policies

Section 723

Special investment policies.

Section 724

Transfer of assets into or out of special investment fund.

Section 725

Special investment policies: breaches of conditions.

CHAPTER 3

Provisions applying to overseas life assurance companies

Section 726

Investment income.

Section 727

General annuity and pension business.

Section 728

Expenses of management.

Section 729

Income tax, foreign tax and tax credit.

Section 730

Tax credit in respect of distributions.

PART 27

Unit Trusts and Offshore Funds

CHAPTER 1

Unit trusts

Section 731

Chargeable gains accruing to unit trusts.

Section 732

Special arrangements for qualifying unit trusts.

Section 733

Reorganisation of units in unit trust scheme.

Section 734

Taxation of collective investment undertakings.

Section 735

Certain unit trusts not to be collective investment undertakings.

Section 736

Option for non-application of section 735.

Section 737

Special investment schemes.

Section 738

Undertakings for collective investment.

Section 739

Taxation of unit holders in undertakings for collective investment.

CHAPTER 2

Offshore funds

Section 740

Interpretation (Chapter 2 and Schedules 19 and 20).

Section 741

Disposals of material interests in non-qualifying offshore funds.

Section 742

Offshore funds operating equalisation arrangements.

Section 743

Material interest in offshore funds.

Section 744

Non-qualifying offshore funds.

Section 745

Charge to income tax or corporation tax of offshore income gain.

Section 746

Offshore income gains accruing to persons resident or domiciled abroad.

Section 747

Deduction of offshore income gain in determining capital gain.

PART 28

Purchase and Sale of Securities

CHAPTER 1

Purchase and sale of securities

Section 748

Interpretation and application (Chapter 1).

Section 749

Dealers in securities.

Section 750

Persons entitled to exemption.

Section 751

Traders other than dealers in securities.

CHAPTER 2

Purchases of shares by financial concerns and persons exempted from tax, and restriction on relief for losses by repayment of tax in case of dividends paid out of accumulated profits

Section 752

Purchases of shares by financial concerns and persons exempted from tax.

Section 753

Restriction on relief for losses by repayment of tax in case of dividends paid out of accumulated profits.

PART 29

Patents, Scientific and Certain Other Research, Know-How and Certain Training

CHAPTER 1

Patents

Section 754

Interpretation (Chapter 1).

Section 755

Annual allowances for capital expenditure on purchase of patent rights.

Section 756

Effect of lapse of patent rights.

Section 757

Charges on capital sums received for sale of patent rights.

Section 758

Relief for expenses.

Section 759

Spreading of revenue payments over several years.

Section 760

Capital sums: effect of death, winding up and partnership changes.

Section 761

Manner of making allowances and charges.

Section 762

Application of Chapter 4 of Part 9.

CHAPTER 2

Scientific and certain other research

Section 763

Interpretation (sections 764 and 765).

Section 764

Deduction for revenue expenditure on scientific research.

Section 765

Allowances for capital expenditure on scientific research.

Section 766

Deduction for certain expenditure on research and development.

Section 767

Payment to universities and other approved bodies for research in, or teaching of, approved subjects.

CHAPTER 3

Know-how and certain training

Section 768

Allowance for know-how.

Section 769

Relief for training of local staff before commencement of trading.

PART 30

Occupational Pension Schemes, Retirement Annuities, Purchased Life Annuities and Certain Pensions

CHAPTER 1

Occupational pension schemes

Section 770

Interpretation and supplemental (Chapter 1).

Section 771

Meaning of “retirement benefits scheme”.

Section 772

Conditions for approval of schemes and discretionary approval.

Section 773

General Medical Services: scheme of superannuation.

Section 774

Certain approved schemes: exemptions and reliefs.

Section 775

Certain approved schemes: provisions supplementary to section 774(6).

Section 776

Certain statutory schemes: exemptions and reliefs.

Section 777

Charge to income tax in respect of certain relevant benefits provided for employees.

Section 778

Exceptions to charge to tax under section 777.

Section 779

Charge to income tax of pensions under Schedule E.

Section 780

Charge to income tax on repayment of employees' contributions.

Section 781

Charge to income tax: commutation of entire pension.

Section 782

Charge to tax: repayments to employer.

CHAPTER 2

Retirement annuities

Section 783

Interpretation and general (Chapter 2).

Section 784

Retirement annuities: relief for premiums.

Section 785

Approval of contracts for dependants or for life assurance.

Section 786

Approval of certain other contracts.

Section 787

Nature and amount of relief for qualifying premiums.

CHAPTER 3

Purchased life annuities

Section 788

Capital element in certain purchased annuities.

Section 789

Supplementary provisions (Chapter 3).

CHAPTER 4

Miscellaneous

Section 790

Liability of certain pensions, etc. to tax.

PART 31

Taxation of Settlors, Etc in Respect of Settled or Transferred Income

CHAPTER 1

Revocable dispositions for short periods and certain dispositions in favour of children

Section 791

Income under revocable dispositions.

Section 792

Income under dispositions for short periods.

Section 793

Recovery of tax from trustee and payment to trustee of excess tax recoupment.

CHAPTER 2

Settlements on children generally

Section 794

Interpretation and application (Chapter 2).

Section 795

Income settled on children.

Section 796

Irrevocable instruments.

Section 797

Recovery of tax from trustee and payment to trustee of excess tax recoupment.

Section 798

Transfer of interest in trade to children.

PART 32

Estates of Deceased Persons in Course of Administration and Surcharge on Certain Income of Trustees

CHAPTER 1

Estates of deceased persons in course of administration

Section 799

Interpretation (Chapter 1).

Section 800

Limited interest in residue.

Section 801

Absolute interest in residue.

Section 802

Supplementary provisions as to absolute interest in residue.

Section 803

Special provisions as to certain interests.

Section 804

Adjustments and information.

CHAPTER 2

Surcharge on certain income of trustees

Section 805

Surcharge on certain income of trustees.

PART 33

Anti-Avoidance

CHAPTER 1

Transfer of assets abroad

Section 806

Charge to income tax on transfer of assets abroad.

Section 807

Deductions and reliefs in relation to income chargeable to income tax under section 806.

Section 808

Power to obtain information.

Section 809

Saver.

Section 810

Application of Income Tax Acts.

CHAPTER 2

Miscellaneous

Section 811

Transactions to avoid liability to tax.

Section 812

Taxation of income deemed to arise from transfers of right to receive interest from securities.

Section 813

Taxation of transactions associated with loans or credit.

Section 814

Taxation of income deemed to arise from transactions in certificates of deposit and assignable deposits.

Section 815

Taxation of income deemed to arise on certain sales of securities.

Section 816

Taxation of shares issued in place of cash dividends.

Section 817

Schemes to avoid liability to tax under Schedule F.

PART 34

Provisions Relating to the Residence of Individuals

Section 818

Interpretation (Part 34).

Section 819

Residence.

Section 820

Ordinary residence.

Section 821

Application of sections 17 and 18(1) and Chapter 1 of Part 3.

Section 822

Split year residence.

Section 823

Deduction for income earned outside the State.

Section 824

Appeals.

Section 825

Residence treatment of donors of gifts to the State.

PART 35

Double Taxation Relief

CHAPTER 1

Principal reliefs

Section 826

Agreements for relief from double taxation.

Section 827

Application to corporation tax of arrangements made in relation to corporation profits tax under old law.

Section 828

Capital gains tax: double taxation relief.

Section 829

Treatment for double taxation relief purposes of foreign tax incentive reliefs.

CHAPTER 2

Miscellaneous

Section 830

Relief to certain companies liable to foreign tax.

Section 831

Implementation of Council Directive No.90/435/EEC concerning the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States.

Section 832

Provisions in relation to Convention for reciprocal avoidance of double taxation in the State and the United Kingdom of income and capital gains.

Section 833

Convention with United States of America.

Section 834

Relief in respect of ships documented under laws of United States of America.

Section 835

Saver for arrangements made under section 362 of Income Tax Act, 1967.

PART 36

Miscellaneous Special Provisions

Section 836

Allowances for expenses of members of Oireachtas.

Section 837

Members of the clergy and ministers of religion.

Section 838

Special portfolio investment accounts.

Section 839

Limits to special investments.

Section 840

Business entertainment.

Section 841

Voluntary Health Insurance Board: restriction of certain losses and deemed disposal of certain assets.

Section 842

Replacement of harbour authorities by port companies.

Section 843

Capital allowances for buildings used for third level educational purposes.

Section 844

Companies carrying on mutual business or not carrying on a business.

Section 845

Corporation tax: treatment of tax-free income of non-resident banks, insurance businesses, etc.

Section 846

Tax-free securities: exclusion of interest on borrowed money.

Section 847

Tax relief for certain branch profits.

Section 848

Designated charities: repayment of tax in respect of donations.

MANAGEMENT PROVISIONS

PART 37

Administration

Section 849

Taxes under care and management of Revenue Commissioners.

Section 850

Appeal Commissioners.

Section 851

Collector-General.

Section 852

Inspectors of taxes.

Section 853

Governor and directors of Bank of Ireland.

Section 854

Appointment of persons for purposes of assessment of certain public offices.

Section 855

Declaration to be made by Commissioners.

Section 856

Disqualification of Commissioners in cases of personal interest.

Section 857

Declarations on taking office.

Section 858

Evidence of authorisation.

Section 859

Anonymity of authorised officers in relation to certain matters.

Section 860

Administration of oaths.

Section 861

Documents to be in accordance with form prescribed by Revenue Commissioners.

Section 862

Exercise of powers, etc. of Minister for Finance under Tax Acts.

Section 863

Loss, destruction or damage of assessments and other documents.

Section 864

Making of claims, etc.

Section 865

Limit of time for repayment claims.

Section 866

Rules as to delivery of statements.

Section 867

Amendment of statutory forms.

Section 868

Execution of warrants.

Section 869

Delivery, service and evidence of notices and forms.

Section 870

Effect of want of form, error, etc. on assessments, charges, warrants and other proceedings.

Section 871

Power to combine certain returns and assessments.

Section 872

Use of information relating to other taxes and duties.

Section 873

Proof that person is a Commissioner or officer.

Section 874

Limitation of penalties on officers employed in execution of Tax Acts and Capital Gains Tax Acts.

Section 875

Exemption of appraisements and valuations from stamp duty.

PART 38

Returns of Income and Gains, Other Obligations and Returns, and Revenue Powers

CHAPTER 1

Income tax: returns of income

Section 876

Notice of liability to income tax.

Section 877

Returns by persons chargeable.

Section 878

Persons acting for incapacitated persons and non-residents.

Section 879

Returns of income.

Section 880

Partnership returns.

Section 881

Returns by married persons.

CHAPTER 2

Corporation tax: returns of profits

Section 882

Particulars to be supplied by new companies.

Section 883

Notice of liability to corporation tax.

Section 884

Returns of profits.

CHAPTER 3

Other obligations and returns

Section 885

Obligation to show tax reference number on receipts.

Section 886

Obligation to keep certain records.

Section 887

Use of electronic data processing.

Section 888

Returns, etc. by lessors, lessees and agents.

Section 889

Returns of fees, commissions, etc. paid by certain persons.

Section 890

Returns by persons in receipt of income belonging to others.

Section 891

Returns of interest paid or credited without deduction of tax.

Section 892

Returns by nominee holders of securities.

Section 893

Returns by certain intermediaries in relation to UCITS.

Section 894

Returns of certain information by third parties.

Section 895

Returns in relation to foreign accounts.

Section 896

Returns in relation to material interest in offshore funds.

Section 897

Returns of employees' emoluments, etc.

Section 898

Returns of copies of rates and production of certain valuations.

CHAPTER 4

Revenue powers

Section 899

Inspector's right to make enquiries.

Section 900

Power to require production of accounts and books.

Section 901

Power to require delivery of books and papers relating to tax.

Section 902

Power to obtain from certain persons particulars of transactions with and documents concerning tax liability of taxpayer.

Section 903

Power of inspection: PAYE.

Section 904

Power of inspection: tax deduction from payments to certain subcontractors.

Section 905

Inspection of documents and records.

Section 906

Authorised officers and Garda Síochána.

Section 907

Application to Appeal Commissioners seeking determination that authorised officer justified in requiring information to be furnished by financial institutions.

Section 908

Application to High Court seeking order requiring information to be furnished by financial institutions.

Section 909

Power to require return of property.

Section 910

Power to obtain information from Minister of the Government.

Section 911

Valuation of assets: power to inspect.

Section 912

Computer documents and records.

CHAPTER 5

Capital gains tax: returns, information, etc.

Section 913

Application of income tax provisions relating to returns, etc.

Section 914

Returns by issuing houses, stockbrokers, auctioneers, etc.

Section 915

Returns by nominee shareholders.

Section 916

Returns by party to a settlement.

Section 917

Returns relating to non-resident companies and trusts.

PART 39

Assessments

CHAPTER 1

Income tax and corporation tax

Section 918

Making of assessments under Schedules C, D, E and F.

Section 919

Assessments to corporation tax.

Section 920

Granting of allowances and reliefs.

Section 921

Aggregation of assessments.

Section 922

Assessment in absence of return.

Section 923

Function of certain assessors.

Section 924

Additional assessments.

Section 925

Special rules relating to assessments under Schedule E.

Section 926

Estimation of certain amounts.

Section 927

Rectification of excessive set-off, etc. of tax credit.

Section 928

Transmission to Collector-General of particulars of sums to be collected.

CHAPTER 2

Provision against double assessment and relief for error or mistake

Section 929

Double assessment.

Section 930

Error or mistake.

CHAPTER 3

Capital gains tax

Section 931

Making of assessments and application of income tax assessment provisions.

PART 40

Appeals

CHAPTER 1

Appeals against income tax and corporation tax assessments

Section 932

Prohibition on alteration of assessment except on appeal.

Section 933

Appeals against assessment.

Section 934

Procedure on appeals.

Section 935

Power to issue precepts.

Section 936

Objection by inspector or other officer to schedules.

Section 937

Confirmation and amendment of assessments.

Section 938

Questions as to assessments or schedules.

Section 939

Summoning and examination of witnesses.

Section 940

Determination of liability in cases of default.

Section 941

Statement of case for High Court.

Section 942

Appeals to Circuit Court.

Section 943

Extension of section 941.

Section 944

Communication of decision of Appeal Commissioners.

CHAPTER 2

Appeals against capital gains tax assessments

Section 945

Appeals against assessments.

Section 946

Regulations with respect to appeals.

CHAPTER 3

Miscellaneous

Section 947

Appeals against determination under sections 98 to 100.

Section 948

Appeals against amount of income tax deducted under Schedule E.

Section 949

Appeals against determinations of certain claims, etc.

PART 41

Self Assessment

Section 950

Interpretation (Part 41).

Section 951

Obligation to make a return.

Section 952

Obligation to pay preliminary tax.

Section 953

Notices of preliminary tax.

Section 954

Making of assessments.

Section 955

Amendment of and time limit for assessments.

Section 956

Inspector's right to make enquiries and amend assessments.

Section 957

Appeals.

Section 958

Date for payment of tax.

Section 959

Miscellaneous (Part 41).

PART 42

Collection and Recovery

CHAPTER 1

Income tax

Section 960

Date for payment of income tax other than under self assessment.

Section 961

Issue of demand notes and receipts.

Section 962

Recovery by sheriff or county registrar.

Section 963

Power of Collector-General and authorised officer to sue in Circuit Court or District Court.

Section 964

Continuance of pending proceedings.

Section 965

Evidence in proceedings in Circuit Court or District Court for recovery of income tax.

Section 966

High Court proceedings.

Section 967

Evidence of electronic transmission of particulars of income tax to be collected in proceedings for recovery of tax.

Section 968

Judgments for recovery of income tax.

Section 969

Duration of imprisonment for non-payment of income tax.

Section 970

Recovery of income tax charged on profits not distrainable.

Section 971

Priority of income tax debts over other debts.

Section 972

Duty of employer as to income tax payable by employees.

CHAPTER 2

Corporation tax

Section 973

Collection of corporation tax.

Section 974

Priority for corporation tax.

Section 975

Application of sections 964(2), 980(8) and 981 for purposes of corporation tax.

CHAPTER 3

Capital gains tax

Section 976

Collection of capital gains tax.

Section 977

Recovery of capital gains tax from shareholder.

Section 978

Gifts: recovery of capital gains tax from donee.

Section 979

Time for payment of capital gains tax assessed under sections 977(3) or 978(2) and (3).

Section 980

Deduction from consideration on disposal of certain assets.

Section 981

Payment by instalments where consideration due after time of disposal.

Section 982

Preferential payment.

CHAPTER 4

Collection and recovery of income tax on certain emoluments (PAYE system)

Section 983

Interpretation (Chapter 4).

Section 984

Application.

Section 985

Method of collection.

Section 986

Regulations.

Section 987

Penalties for breach of regulations.

Section 988

Registration of certain persons as employers and requirement to send certain notifications.

Section 989

Estimation of tax due for income tax months.

Section 990

Estimation of tax due for year.

Section 991

Interest.

Section 992

Appeals against estimates under section 989 or 990.

Section 993

Recovery of tax.

Section 994

Priority in bankruptcy, etc. of certain amounts.

Section 995

Priority in winding up of certain amounts.

Section 996

Treatment for tax purposes of certain unpaid remuneration.

Section 997

Supplementary provisions (Chapter 4).

CHAPTER 5

Miscellaneous provisions

Section 998

Recovery of moneys due.

Section 999

Taking by Collector-General of proceedings in bankruptcy.

1000.

Priority in bankruptcy, winding up, etc. for sums recovered or deducted under sections 531, 989 or 990.

1001.

Liability to tax, etc. of holder of fixed charge on book debts of company.

1002.

Deduction from payments due to defaulters of amounts due in relation to tax.

1003.

Payment of tax by means of donation of heritage items.

1004.

Unremittable income.

1005.

Unremittable gains.

1006.

Poundage and certain other fees due to sheriffs or county registrars.

PART 43

Partnerships and European Economic Interest Groupings (EEIG) 1007.

Interpretation (Part 43).

1008.

Separate assessment of partners.

1009.

Partnerships involving companies.

1010.

Capital allowances and balancing charges in partnership cases.

1011.

Provision as to charges under section 757.

1012.

Modification of provisions as to appeals.

1013.

Limited partnerships.

1014.

Tax treatment of profits, losses and capital gains arising from activities of a European Economic Interest Grouping (EEIG).

PART 44

Married, Separated and Divorced Persons

CHAPTER 1

Income tax 1015.

Interpretation (Chapter 1).

1016.

Assessment as single persons.

1017.

Assessment of husband in respect of income of both spouses.

1018.

Election for assessment under section 1017.

1019.

Assessment of wife in respect of income of both spouses.

1020.

Special provisions relating to year of marriage.

1021.

Repayment of tax in case of certain husbands and wives.

1022.

Special provisions relating to tax on wife's income.

1023.

Application for separate assessments.

1024.

Method of apportioning reliefs and charging tax in cases of separate assessments.

1025.

Maintenance in case of separated spouses.

1026.

Separated and divorced persons: adaptation of provisions relating to married persons.

1027.

Payments pursuant to certain orders under Judicial Separation and Family Law Reform Act, 1989, Family Law Act, 1995, and Family Law (Divorce) Act, 1996, to be made without deduction of income tax.

CHAPTER 2

Capital gains tax 1028.

Married persons.

1029.

Application of section 1022 for purposes of capital gains tax.

1030.

Separated spouses: transfers of assets.

1031.

Divorced persons: transfers of assets.

PART 45

Charging and Assessing of Non-Residents

CHAPTER 1

Income tax and corporation tax 1032.

Restrictions on certain reliefs.

1033.

Entitlement to tax credit in respect of distributions.

1034.

Assessment.

1035.

Profits from agencies, etc.

1036.

Control over residents.

1037.

Charge on percentage of turnover.

1038.

Merchanting profit.

1039.

Restrictions on chargeability.

1040.

Application of sections 1034 to 1039 for purposes of corporation tax.

1041.

Rents payable to non-residents.

CHAPTER 2

Capital gains tax 1042.

Charging and assessment of persons not resident or ordinarily resident: modification of general rules.

1043.

Application of sections 1034 and 1035 for purposes of capital gains tax.

PART 46

Persons Chargeable in a Representative Capacity

CHAPTER 1

Income tax and corporation tax 1044.

Bodies of persons.

1045.

Trustees, guardians and committees.

1046.

Liability of trustees, etc.

1047.

Liability of parents, guardians, executors and administrators.

1048.

Assessment of executors and administrators.

1049.

Receivers appointed by court.

1050.

Protection for trustees, agents and receivers.

CHAPTER 2

Capital gains tax 1051.

Application of Chapter 1 for purposes of capital gains tax.

PART 47

Penalties, Revenue Offences, Interest on Overdue Tax and Other Sanctions

CHAPTER 1

Income tax and corporation tax penalties 1052.

Penalties for failure to make certain returns, etc.

1053.

Penalty for fraudulently or negligently making incorrect returns, etc.

1054.

Increased penalties in case of body of persons.

1055.

Penalty for assisting in making incorrect returns, etc.

1056.

Penalty for false statement made to obtain allowance.

1057.

Fine for obstruction of officers in execution of duties.

1058.

Refusal to allow deduction of tax.

1059.

Power to add penalties to assessments.

1060.

Proceedings against executor or administrator.

1061.

Recovery of penalties.

1062.

Proceedings where penalty recoverable cannot be definitely ascertained.

1063.

Time limit for recovery of fines and penalties.

1064.

Time for certain summary proceedings.

1065.

Mitigation and application of fines and penalties.

1066.

False evidence: punishment as for perjury.

1067.

Admissibility of statements and documents in criminal and tax proceedings.

1068.

Failure to act within required time.

1069.

Evidence of income.

1070.

Saving for criminal proceedings.

CHAPTER 2

Other corporation tax penalties 1071.

Penalties for failure to make certain returns.

1072.

Penalties for fraudulently or negligently making incorrect returns, etc.

1073.

Penalties for failure to furnish particulars required to be supplied by new companies.

1074.

Penalties for failure to give notice of liability to corporation tax.

1075.

Penalties for failure to furnish certain information and for incorrect information.

1076.

Supplementary provisions (Chapter 2).

CHAPTER 3

Capital gains tax penalties 1077.

Penalties for failure to make returns, etc. and for fraudulently or negligently making incorrect returns, etc.

CHAPTER 4

Revenue offences 1078.

Revenue offences.

1079.

Duties of relevant person in relation to certain revenue offences.

CHAPTER 5

Interest on overdue tax 1080.

Interest on overdue income tax and corporation tax.

1081.

Effect on interest of reliefs given by discharge or repayment.

1082.

Interest on overdue income tax and corporation tax in cases of fraud or neglect.

1083.

Application of sections 1080 to 1082 for capital gains tax purposes.

CHAPTER 6

Other sanctions 1084.

Surcharge for late returns.

1085.

Corporation tax— late returns: restriction of certain claims for relief.

1086.

Publication of names of tax defaulters.

PART 48

Miscellaneous and Supplemental 1087.

Charge and deduction of income tax not charged or deducted before passing of annual Act.

1088.

Restriction on deductions in computing profits.

1089.

Status of interest on certain unpaid taxes and duties.

1090.

Income tax assessment to be conclusive of total income.

1091.

Annexation of statements to interest warrants, etc.

1092.

Disclosure of certain information to rating authorities, etc.

1093.

Disclosure of information to Ombudsman.

1094.

Tax clearance certificates in relation to certain licences.

1095.

Tax clearance certificates in relation to public sector contracts.

1096.

Assessment of Electricity Supply Board.

PART 49

Commencement, Repeals, Transitional Provisions, Etc 1097.

Commencement.

1098.

Repeals.

1099.

Saving for enactments not repealed.

1100.

Consequential amendments to other enactments.

1101.

Transitional provisions.

1102.

Continuity and construction of certain references to old and new law.

1103.

Continuance of officers, instruments and documents.

1104.

Short title and construction.

SCHEDULE 1 Supplementary Provisions Concerning the Extension of Charge to Tax to Profits and Income Derived from Activities Carried On and Employments Exercised on the Continental Shelf SCHEDULE 2 Machinery for Assessment, Charge and Payment of Tax under Schedule C and, in Certain Cases, Schedule D SCHEDULE 3 Reliefs in Respect of Income Tax Charged on Payments on Retirement, Etc SCHEDULE 4 Exemption of Specified Non-Commercial State Sponsored Bodies from Certain Tax Provisions SCHEDULE 5 Description of Custom House Docks Area SCHEDULE 6 Description of Temple Bar Area SCHEDULE 7 Description of Certain Enterprise Areas SCHEDULE 8 Description of Qualifying Resort Areas SCHEDULE 9 Change in Ownership of Company: Disallowance of Trading Losses SCHEDULE 10 Relief for Investment in Corporate Trades: Subsidiaries SCHEDULE 11 Profit Sharing Schemes SCHEDULE 12 Employee Share Ownership Trusts SCHEDULE 13 Accountable Persons for Purposes of Chapter 1 of Part 18 SCHEDULE 14 Capital Gains Tax: Leases SCHEDULE 15 List of Bodies for Purposes of

Section 610

SCHEDULE 16 Building Societies: Change of Status SCHEDULE 17 Reorganisation Into Companies of Trustee Savings Banks SCHEDULE 18 Accounting for and Payment of Tax Deducted From Relevant Payments and Undistributed Relevant Income SCHEDULE 19 Offshore Funds: Distributing Funds SCHEDULE 20 Offshore Funds: Computation of Offshore Income Gains SCHEDULE 21 Purchase and Sale of Securities: Appropriate Amount in Respect of the Interest SCHEDULE 22 Dividends Regarded as Paid Out of Profits Accumulated Before Given Date SCHEDULE 23 Occupational Pension Schemes SCHEDULE 24 Relief From Income Tax and Corporation Tax by Means of Credit in Respect of Foreign Tax SCHEDULE 25 Convention Between The Government of Ireland and the Government of the United States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income SCHEDULE 26 Replacement of Harbour Authorities by Port Companies SCHEDULE 27 Forms of Declarations to be Made by Certain Persons SCHEDULE 28 Statements, Lists and Declarations SCHEDULE 29 Provisions Referred to in Sections 1052, 1053 and 1054 SCHEDULE 30 Repeals SCHEDULE 31 Consequential Amendments SCHEDULE 32 Transitional Provisions Acts Referred to Adoption Act, 1991 1991, No. 14 Adoption Acts, 1952 to 1991 Age of Majority Act, 1985 1985, No. 2 Agricultural Act, 1931 1931, No. 8 Agricultural Acts, 1931 to 1980 Aliens Act, 1935 1935, No. 14 Army Pensions Act, 1932 1932, No. 24 Army Pensions Acts, 1923 to 1980 Assurance Companies Act, 1909 9 Edw. 7, c. 42 Auctioneers and House Agents Act, 1947 1947, No. 10 Bankers' Books Evidence Acts, 1879 and 1959 Bankruptcy Act, 1988 1988, No. 27 Betting Act, 1931 1931, No. 27 Building Societies Act, 1989 1989, No. 17 Building Societies Acts, 1874 to 1989 Capital Acquisitions Tax Act, 1976 1976, No. 8 Capital Gains Tax Act, 1975 1975, No. 20 Capital Gains Tax (Amendment) Act, 1978 1978, No. 33 Casual Trading Act, 1995 1995, No. 19 Central Bank Act, 1971 1971, No. 24 Central Fund Act, 1965 1965, No. 4 Central Fund (Permanent Provisions) Act, 1965 1965, No. 26 Charities Act, 1961 1961, No. 17 Civil Service Commissioners Act, 1956 1956, No. 45 Companies Act, 1963 1963, No. 33 Companies Act, 1990 1990, No. 33 Companies Acts, 1963 to 1990 Companies (Amendment) Act, 1983 1983, No. 13 Connaught Rangers (Pensions) Act, 1936 1936, No. 37 Connaught Rangers (Pensions) Acts, 1936 to 1964 Consumer Credit Act, 1995 1995, No. 24 Continental Shelf Act, 1968 1968, No. 14 Corporation Tax Act, 1976 1976, No. 7 Court Officers Act, 1926 1926, No. 27 Courts (Supplemental Provisions) Act, 1961

1961, No. 39 Courts Act, 1991 1991, No. 20 Courts of Justice Act, 1924 1924, No. 10 Courts of Justice Act, 1953 1953, No. 32 Criminal Assets Bureau Act, 1996 1996, No. 31 Criminal Procedure Act, 1967 1967, No. 12 Customs-Free Airport Act, 1947 1947, No. 5 Deeds of Arrangements Act, 1887 50 & 51 Vict., c. 57 Defence Act, 1954 1954, No. 18 Dentists Act, 1985 1985, No. 9 Diplomatic Relations and Immunities Act, 1967 1967, No. 8 Disclosure of Certain Information for Taxation and Other Purposes Act, 1996 1996, No. 25 Dublin Docklands Development Authority Act, 1997 1997, No. 7 Enforcement of Court Orders Act, 1926 1926, No. 18 Environmental Protection Agency Act, 1992 1992, No. 7 Export Promotion (Amendment) Act, 1987 1987, No. 13 Family Law Act, 1995 1995, No. 26 Family Law (Divorce) Act, 1996 1996, No. 33 Finance (1909-10) Act, 1910 10 Edw. 7 & 1 Geo. 5, c. 8 Finance (Excise Duties) (Vehicles) Act, 1952 1952, No. 24 Finance (Excise Duty on Tobacco Products) Act, 1977 1977, No. 32 Finance (Miscellaneous Provisions) Act, 1956 1956, No. 47 Finance (Miscellaneous Provisions) Act, 1958 1958, No. 28 Finance (Miscellaneous Provisions) Act, 1968 1968, No. 7 Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956 1956, No. 8 Finance (Taxation of Profits of Certain Mines) Act, 1974 1974, No. 17 Finance Act, 1894 57 & 58 Vict., c. 30 Finance Act, 1920 10 & 11 Geo. 5, c. 8 Finance Act, 1928 1928, No. 11 Finance Act, 1931 1931, No. 31 Finance Act, 1950 1950, No. 18 Finance Act, 1952 1952, No. 14 Finance Act, 1959 1959, No. 18 Finance Act, 1960 1960, No. 19 Finance Act, 1963 1963, No. 23 Finance Act, 1964 1964, No. 15 Finance Act, 1965 1965, No. 22 Finance Act, 1967 1967, No. 17 Finance Act, 1968 1968, No. 33 Finance (No. 2) Act, 1968 1968, No. 37 Finance Act, 1969 1969, No. 21 Finance Act, 1970 1970, No. 14 Finance (No.2) Act, 1970 1970, No. 25 Finance Act, 1971 1971, No. 23 Finance Act, 1972 1972, No. 19 Finance Act, 1973 1973, No. 19 Finance Act, 1974 1974, No. 27 Finance Act, 1975 1975, No. 6 Finance (No. 2) Act, 1975 1975, No. 19 Finance Act, 1976 1976, No. 16 Finance Act, 1977 1977, No. 18 Finance Act, 1978 1978, No. 21 Finance Act, 1979 1979, No. 11 Finance Act, 1980 1980, No. 14 Finance Act, 1981 1981, No. 16 Finance (No. 2) Act, 1981 1981, No. 28 Finance Act, 1982 1982, No. 14 Finance Act, 1983 1983, No. 15 Finance Act, 1984 1984, No. 9 Finance Act, 1985 1985, No. 10 Finance Act, 1986 1986, No. 13 Finance Act, 1987 1987, No. 10 Finance Act, 1988 1988, No. 12 Finance Act, 1989 1989, No. 10 Finance Act, 1990 1990, No. 10 Finance Act, 1991 1991, No. 13 Finance Act, 1992 1992, No. 9

Finance (No. 2) Act, 1992 1992, No. 28 Finance Act, 1993 1993, No. 13 Finance Act, 1994 1994, No. 13 Finance Act, 1995 1995, No. 8 Finance Act, 1996 1996, No. 9 Finance Act, 1997 1997, No. 22 Friendly Societies Act, 1896 59 & 60 Vict., c. 25 Friendly Societies Acts, 1896 to 1977 Gaming and Lotteries Act, 1956 1956, No. 2 Harbours Act, 1996 1996, No. 11 Health Act, 1970 1970, No. 1 Health Acts 1947 to 1996 Health Contributions Act, 1979 1979, No. 4 Higher Education Authority Act, 1971 1971, No. 22 Housing Act, 1966 1966, No. 21 Housing Finance Agency Act, 1981 1981, No. 37 Housing (Miscellaneous Provisions) Act, 1979 1979, No. 27 Income Tax Act, 1967 1967, No. 6 Income Tax (Amendment) Act, 1967 1967, No. 7 Income Tax (Amendment) Act, 1986 1986, No. 34 Industrial and Provident Societies Acts, 1893 to 1978 Industrial Development Act, 1969 1969, No. 32 Industrial Development Act, 1972 1972, No. 9 Industrial Development Act, 1986 1986, No. 9 Industrial Development Act, 1993 1993, No. 19 Industrial Development Act, 1995 1995, No. 28 Industrial Development (Amendment) Act, 1991 1991, No. 30 Industrial Development (No. 2) Act, 1981 1981, No. 14 Industrial Training (Apprenticeship Levy) Act, 1994 1994, No. 3 Insurance Act, 1936 1936, No. 45 Insurance Act, 1989 1989, No. 3 Insurance Act, 1990 1990, No. 26 Insurance Acts, 1909 to 1969 Interpretation Act, 1937 1937, No. 38 Irish Film Board Act, 1980 1980, No. 36 Irish Horseracing Industry Act, 1994 1994, No. 18 Irish Takeover Panel Act, 1997 1997, No. 5 Judicial Separation and Family Law Reform Act, 1989 1989, No. 6 Labour Services Act, 1987 1987, No. 15 Limited Partnership Act, 1907 7 Edw. 7, c. 24 Local Authorities (Higher Education) Grants Acts, 1968 to 1992 Local Government Act, 1941 1941, No. 23 Local Government Act, 1946 1946, No. 24 Local Government (Financial Provisions)(No. 2) Act, 1983 1983, No. 21 Local Government (Planning & Development) Act, 1963 1963, No. 28 Local Government (Planning & Development) Acts, 1963 to 1993 Local Government (Sanitary Services) Act, 1962 1962, No. 26 Local Government (Toll Roads) Act, 1979 1979, No. 34 Local Government Services (Corporate Bodies) Act, 1971 1971, No. 6 Maritime Jurisdiction Act, 1959 1959, No. 22 Maritime Jurisdiction (Amendment) Act, 1988 1988, No. 9 Medical Practitioners Act, 1978 1978, No. 4 Mercantile Marine Act, 1955 1955, No. 29 Merchant Shipping Acts, 1894 to 1993 Military Service Pensions Act, 1924 1924, No. 48 Military Service Pensions Act, 1934 1934, No. 43 Military Service Pensions Acts, 1924 to 1964 Minerals Developments Act, 1940 1940, No. 31 Ministerial and Parliamentary Offices Act, 1938

1938, No. 38 National Lottery Act, 1986 1986, No. 28 Official Secrets Act, 1963 1963, No. 1 Oireachtas (Allowances to Members) Act, 1938 1938, No. 34 Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1960 1960, No. 12 Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1992 1992, No. 3 Ombudsman Act, 1980 1980, No. 26 Patents Act, 1992 1992, No. 1 Pensions (Increase) Act, 1964 1964, No. 10 Petroleum and Other Minerals Development Act, 1960 1960, No. 7 Petty Sessions (Ireland) Act, 1851 14 & 15 Vict., c. 93 Policies of Assurances Act, 1867 30 & 31 Vict., c. 144 Post Office Savings Bank Act, 1861 24 & 25 Vict., c. 14 Probation of Offenders Act, 1907 7 Edw. 7, c. 17 Public Health (Ireland) Act, 1878 41 & 42 Vict., c. 52 Rates on Agricultural Land (Relief) Acts, 1939 to 1980 Redundancy Payments Act, 1967 1967, No. 21 Redundancy Payments Acts, 1967 to 1991 Regional Technical Colleges Act, 1992 1992, No. 16 Registration of Business Names Act, 1963 1963, No. 30 Road Traffic Act, 1961 1961, No. 24 Roads Act, 1920 10 & 11 Geo. 5, c. 72 Securitisation (Proceeds of Certain Mortgages) Act, 1995 1995, No. 35 Settled Land Act, 1882 45 & 46 Vict., c. 38 Shannon Free Airport Development Company Limited (Amendment) Act, 1970 1970, No. 9 Social Welfare (Consolidation) Act, 1993 1993, No. 27 Stamp Act, 1891 54 & 55 Vict., c. 39 State Property Act, 1954 1954, No. 25 Status of Children Act, 1987 1987, No. 26 Succession Act, 1965 1965, No. 27 Superannuation and Pensions Act, 1963 1963, No. 24 Temple Bar Area Renewal and Development Act, 1991 1991, No. 19 Tourist Traffic Act, 1939 1939, No. 24 Tourist Traffic Act, 1957 1957, No. 27 Tourist Traffic Acts, 1939 to 1995 Trade Union Act, 1941 1941, No. 22 Trade Union Act, 1942 1942, No. 23 Trustee Savings Banks Act, 1989 1989, No. 21 Trustee Savings Banks Acts, 1863 to 1989 Údarás na Gaeltachta Act, 1979.

1979, No. 5 Unit Trusts Act, 1972 1972, No. 17 Unit Trusts Act, 1990 1990, No. 37 Urban Renewal Act, 1986 1986, No. 19 Value-Added Tax Act, 1972 1972, No. 22 Value-Added Tax Acts, 1972 to 1997 Vocational Education Act, 1930 1930, No. 29 Vocational Education Acts, 1930 to 1993 Voluntary Health Insurance Act, 1957 1957, No. 1 Waiver of Certain Tax, Interest and Penalties Act, 1993 1993, No. 24 Wealth Tax Act, 1975 1975, No. 25 Youth Employment Agency Act, 1981 1981, No. 32 Finance Act, 1929 No. 32 of 1929 Finance Act, 1958 No. 25 of 1958 Finance (No. 2) Act, 1959 No. 42 of 1959 Finance Act, 1923 No. 21 of 1923 Finance Act, 1924 No. 27 of 1924 Income Tax (Employments) Regulations, 1960 S.I. No. 28 of 1960 (Unemployment Benefit and Pay-Related Benefit) Order, 1994 S.I. No. 19 of 1994 Ireland (Designation and Immunities) Order, 1986 S.I. No. 394 of 1986 Road Traffic (Public Service Vehicles) Regulations, 1963 S.I. No. 191 of 1963 European Communities (European Economic Interest Groupings) Regulations, 1989 S.I. No. 191 of 1989 Income Tax (Construction Contracts) Regulations, 1971 S.I. No. 1 of 1971 Income Tax (Rent Relief) Regulations, 1982 S.I. No. 318 of 1982 European Communities (Fresh Meat) Regulations, 1987 S.I. No. 284 of 1987 European Communities (Common Agricultural Policy) (Market Intervention) Regulations, 1973 S.I. No. 24 of 1973 Social Welfare (Consolidated Contributions and Insurability) Regulations, 1996 S.I. No. 312 of 1996 Housing (Improvement Grants) Regulations, 1983 S.I. No. 330 of 1983 (Establishment of Interim Board) Order, 1994 S.I. No. 408 of 1994 European Communities (Retirement of Farmers) Regulations, 1974 S.I. No. 116 of 1974 European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 1989 S.I. No. 78 of 1989 (Taxes on Income and Capital Gains) (United Kingdom) Order, 1976 S.I. No. 319 of 1976 European Communities (Intrastat) Regulations, 1993 S.I. No. 136 of 1993 Imposition of Duties (No. 221) (Excise Duties) Order, 1975 S.I. No. 307 of 1975 General Medical Services (Payments) Board (Establishment) Order, 1972 S.I. No. 184 of 1972 Income Tax (Purchased Life Annuities) Regulations, 1959 S.I. No. 152 of 1959 Value-Added Tax Regulations, 1979 S.I. No. 63 of 1979 Health Contribution Regulations, 1979 S.I. No. 107 of 1979 Youth Employment Levy Regulations 1982 S.I. No. 84 of 1982 Health Contributions (Amendment) Regulations, 1988 S.I. No. 51 of 1988 Number 39 of 1997 TAXES CONSOLIDATION ACT. 1997 AN ACT TO CONSOLIDATE ENACTMENTS RELATING TO INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX, INCLUDING CERTAIN ENACTMENTS RELATING ALSO TO OTHER TAXES AND DUTIES. [30th November, 1997]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

INTERPRETATION AND BASIC CHARGING PROVISIONS

PART 1

Interpretation Interpretation of this Act. [ITA67 s3; FA74 s86 and Sch2 PtI; CTA76 s155(1) and (2); CGT(A)78 s1(1); FA80 s9] 1.—(1) In this Act, except where the context otherwise requires, “repealed enactments” has the meaning assigned to it by section 1098 .

Interpretation of Tax Acts. [ITA67 s1(1); CTA76 s155(3) to (5) and s171; F(MP)A68 s3(2) and Sch PtI; FA74 s1; FA75 s33(1); FA77 s41(1); FA97 s146(1) and Sch9 PtI par1(1)] 2.—(1) In the Tax Acts, except where otherwise provided or the context otherwise requires— “Appeal Commissioners” has the meaning assigned to it by section 850 ; “body of persons” means any body politic, corporate or collegiate, and any company, fraternity, fellowship and society of persons, whether corporate or not corporate; “capital allowance” means any allowance (other than an allowance or deduction to be made in computing profits or gains) under— (a) Part 9, (b) section 658, (c) Chapter 1 of Part 24, or (d) Part 29, and “capital allowances” shall be construed accordingly; “Clerk to the Appeal Commissioners” means the person for the time being authorised by the Appeal Commissioners to act as such; “Collector-General” means the Collector-General appointed under section 851 ; “inspector” means an inspector of taxes appointed under section 852 ; “local authority” means— (a) the corporation of a county or other borough, (b) the council of a county, or (c) the council of an urban district; “ordinary share capital”, in relation to a company, means all the issued share capital (by whatever name called) of the company, other than capital the holders of which have a right to a dividend at a fixed rate, but have no other right to share in the profits of the company; “profession” includes vocation; “resident” and “ordinarily resident”, in relation to an individual, shall be construed in accordance with

Part 34

; “statute” has the same meaning as in section 3 of the Interpretation Act, 1937 ; “tax credit” means a credit under section 136 ; “year of assessment” means a year for which income tax is imposed by any Act imposing duties of income tax; “the year 1997-98” means the year of assessment beginning on the 6th day of April, 1997, and any corresponding expression in which 2 years are similarly mentioned means the year of assessment beginning on the 6th day of April in the first-mentioned of those 2 years; a source of income is within the charge to corporation tax or income tax if that tax is chargeable on the income arising from it, or would be so chargeable if there were any such income, and references to a person, or to income, being within the charge to tax, shall be similarly construed.

Interpretation of Income Tax Acts. [ITA67 s1(1) and s2; FA69 s65 and Sch5; FA74 s1; CGTA75 s2(5); FA91 s2(3) and Sch1 PtI par1; FA93 s2(2) and Sch1 PtI; FA94 s2(2); FA96 s132(1) and Sch5 PtI par1(1)] 3.—(1) In the Income Tax Acts, except where otherwise provided or the context otherwise requires— “higher rate”, in relation to tax, means the rate of tax known by that description and provided for in section 15 ; “incapacitated person” means any minor or person of unsound mind; “relative” includes any person of whom the person claiming a deduction had the custody and whom he or she maintained at his or her own expense while that person was under the age of 16 years; “standard rate”, in relation to tax, means the rate of tax known by that description and provided for in section 15 ; “tax” means income tax; “taxable income” has the meaning assigned to it by section 458 ; “total income” means total income from all sources as estimated in accordance with the Income Tax Acts; “trade” includes every trade, manufacture, adventure or concern in the nature of trade.

Chapter 2

of

Part 30

to the extent to which such annuity is payable in return for any amount on which relief is given under section 787 , and (b) any payment or other sum which is or is deemed to be income chargeable to tax under Schedule E for any purpose of the Income Tax Acts.

Interpretation of Corporation Tax Acts. [CTA76 s1(5)(a) to (d), s155(5), (9), (10), (11), (12) and (13); FA86 s57(1); FA90 s29(4); FA93 s42; FA97 s37(1)] 4.—(1) In the Corporation Tax Acts, except where the context otherwise requires— “accounting date” means the date to which a company makes up its accounts, and “period of account” means the period for which a company does so; “allowable loss” does not include, for the purposes of corporation tax in respect of chargeable gains, a loss accruing to a company in such circumstances that if a gain accrued the company would be exempt from corporation tax in respect of the gain; “branch or agency” means any factorship, agency, receivership, branch or management; “chargeable gain” has the same meaning as in the Capital Gains Tax Acts, but does not include a gain accruing on a disposal made before the 6th day of April, 1976; “charges on income” has the meaning assigned to it by section 243

Chapter 2

of

Part 6

and sections 436 and 437 ; “the financial year” followed by a reference to the year 1996 or any other year means the year beginning on the 1st day of January of such year; “franked investment income” and “franked payment” shall be construed in accordance with section 156 ; “group relief” has the meaning assigned to it by section 411 ; “interest” means both annual or yearly interest and interest other than annual or yearly interest; “preference dividend” means a dividend payable on a preferred share or preferred stock at a fixed rate per cent or, where a dividend is payable on a preferred share or preferred stock partly at a fixed rate per cent and partly at a variable rate, such part of that dividend as is payable at a fixed rate per cent; “profits” means income and chargeable gains; “standard credit rate” for a year of assessment means 21 per cent, and accordingly “standard credit rate per cent” for a year of assessment means 21; “standard rate per cent” for a year of assessment means 26 where the standard rate for that year is 26 per cent and similarly as regards any reference to the standard rate per cent for a year of assessment for which the standard rate is other than 26 per cent; “trade” includes vocation and includes also an office or employment.

Interpretation of Capital Gains Tax Acts. [CGTA75 s2(1), (3) and (4); CTA76 s140(2) and Sch2 PtII par1; FA80 s61(a); FA90 s29(3); FA97 s146(1) and Sch9 PtI par9(1)] 5.—(1) In the Capital Gains Tax Acts, except where the context otherwise requires— “Appeal Commissioners” has the meaning assigned to it by section 850 ; “body of persons” has the same meaning as in section 2 ; “branch or agency” means any factorship, agency, receivership, branch or management, but does not include the brokerage or agency of a broker or agent referred to in section 1039 ; “local authority” has the meaning assigned to it by section 2

“part disposal” has the meaning assigned to it by section 534 ; “personal representative” has the same meaning as in section 799 ; “prescribed” means prescribed by the Revenue Commissioners; “profession” includes vocation; “resident” and “ordinarily resident”, in relation to an individual, shall be construed in accordance with

Part 34

; “settled property” means any property held in trust other than property to which section 567 applies, but does not include any property held by a trustee or assignee in bankruptcy or under a deed of arrangement; “settlement” and “settlor” have the same meanings respectively as in section 10 , and “settled property” shall be construed accordingly; “shares” includes stock, and shares or debentures comprised in any letter of allotment or similar instrument shall be treated as issued unless the right to the shares or debentures conferred by such letter or instrument remains provisional until accepted and there has been no acceptance; “trade” has the same meaning as in the Income Tax Acts; “trading stock” has the same meaning as in section 89 ; “unit trust” means any arrangements made for the purpose, or having the effect, of providing facilities for the participation by the holders of units, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property whatever; “units”, in relation to a unit trust, means any units (whether described as units or otherwise) into which are divided the beneficial interests in the assets subject to the trusts of a unit trust; “unit holder”, in relation to a unit trust, means a holder of units of the unit trust; “wasting asset” has the meaning assigned to it by section 560 and paragraph 2 of Schedule 14 ; “year of assessment”, in relation to capital gains tax, means a year beginning on the 6th day of April; “the year 1997-98” means the year of assessment beginning on the 6th day of April, 1997, and any corresponding expression in which 2 years are similarly mentioned means the year of assessment beginning on the 6th day of April in the first-mentioned of those 2 years.

Construction of references to child in Tax Acts and Capital Gains Tax Acts. [FA77 s36; FA92 s16] 6.—For the purposes of the Tax Acts and the Capital Gains Tax Acts, except where the contrary intention appears— (a) references in any of those Acts to a child (including references to a son or a daughter) include references to— (i) a stepchild, and (ii) a child who is— (I) adopted under the Adoption Acts, 1952 to 1991, or (II) the subject of a foreign adoption (within the meaning of section 1 of the Adoption Act, 1991 ) which is deemed to have been effected by a valid adoption order made under the Adoption Acts, 1952 to 1991, and (b) the relationship between a child referred to in paragraph (a)(ii) and any other person, or between other persons, that would exist if such child had been born to the child's adoptor or adoptors in lawful wedlock, shall be deemed to exist between such child and that other person, or between those other persons, and the relationship of any such child and any person that existed prior to the child being so adopted shall be deemed to have ceased, and “adopted child” shall be construed in accordance with this section.

Application to certain taxing statutes of Age of Majority Act, 1985. [FA86 s112(1) and (2)] 7.—(1) Notwithstanding subsection (4) of section 2 of the Age of Majority Act, 1985 (in this section referred to as “the Act of 1985”), subsections (2) and (3) of that section shall, subject to subsection (2), apply for the purposes of the Income Tax Acts and any other statutory provision (within the meaning of the Act of 1985) dealing with the imposition, repeal, remission, alteration or regulation of any tax or other duty under the care and management of the Revenue Commissioners, and accordingly section 2(4)(b)(vii) of the Act of 1985 shall cease to apply.

Construction of certain taxing statutes in accordance with Status of Children Act, 1987. [FA88 s74(1) and (2)] 8.—(1) In this section, “the Acts” means— (a) the Tax Acts, (b) the Capital Gains Tax Acts, (c) the Capital Acquisitions Tax Act, 1976 , and the enactments amending or extending that Act, and (d) the statutes relating to stamp duty, and any instruments made thereunder.