Real estate investment trusts 29. (1) The Principal Act is amended— (a) in section 617(1), by substituting the following for paragraph (c)(ii): “(ii) is not— (I) an authorised investment company (within the meaning of Part XIII of the Companies Act 1990 ) that is an investment undertaking (within the meaning of section 739B), or (II) a Real Estate Investment Trust (within the meaning of section 705A) or a member of a group Real Estate Investment Trust (within the meaning of section 705A),”, (b) in section 705E— (i) by inserting the following after subsection (3): “(3A) (a) Where at any time a company becomes a member of a group subsequent to the date of a notice given under subsection (2) by the principal company of that group, the principal company shall give an amended notice to the Revenue Commissioners within the period of 30 days after the date on which that company became a member of the group. (b) An amended notice under this section is a notice in writing— (i) specifying a date from which that company is to be a member of the group REIT, which date shall not be a date earlier than the date of the amended notice, and (ii) containing a statement that each of the conditions in paragraph (b) of section 705B(1) in relation to the group REIT is reasonably expected to be met at the end of the accounting period in which the principal company gives the amended notice. (c) An amended notice shall list all of the members of the group, to each of which the group REIT designation will apply. (d) Where the principal company does not, in accordance with this subsection, give to the Revenue Commissioners an amended notice, the provisions of section 705O shall apply as if the group REIT had given a notice under subsection (1) of that section specifying the date at the end of the period specified in paragraph (a) as the date from which it would cease to be a group REIT.”, and (ii) in paragraph (a) of subsection (4), by substituting “this section” for “subsection (3) ”, and (c) in section 705G, by inserting the following after subsection (2): “(3) Notwithstanding Chapter 4 of Part 8, that Chapter shall apply to a deposit (within the meaning of that Chapter) to which a REIT or a member of a group REIT is for the time being entitled as if such deposit were not a relevant deposit within the meaning of that Chapter.”.
\nAmendment of Part 27 of Principal Act (unit trusts and offshore funds) 30. Part 27 of the Principal Act is amended by substituting the following for Chapter 5: “Chapter 5 Relevant UCITS and Relevant AIF Tax treatment of a relevant UCITS or a relevant AIF 747G. (1) In this section— ‘AIF’ means an alternative investment fund within the meaning of the relevant AIFM Directives; ‘AIFM’ means alternative investment fund manager; ‘alternative investment fund manager’ means a person whose regular business is managing one, or more than one, AIF; ‘branch or agency’ has the same meaning as in section 4; ‘EEA state’ has the same meaning as in section 747B; ‘management company’, in relation to a relevant UCITS, means a management company within the meaning of the relevant UCITS Directives; ‘relevant AIF’ means an AIF which is formed under the laws of a jurisdiction other than the State and which is not an investment undertaking within the meaning of section 739B; ‘relevant AIFM Directives’ means Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 4 on Alternative Investment Fund Managers and any Directive amending that Directive; ‘relevant profits’, in relation to a relevant UCITS or a relevant AIF, means the profits which would be relevant profits (within the meaning of section 739B) if the relevant UCITS or the relevant AIF were an investment undertaking (within the meaning of that section); ‘relevant UCITS’ means an undertaking for collective investment in transferable securities— (a) to which the relevant UCITS Directives apply, and (b) which is formed under the laws of any Member State other than the State and which is not an investment undertaking within the meaning of section 739B; ‘relevant UCITS Directives’ means Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 5 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), and any Directive amending that Directive.
\nCessation of certain provisions of Principal Act relating to windfall tax on land rezonings 31. Part 22 of the Principal Act is amended— (a) in section 644AB by substituting the following for subsection (11): “(11) This section shall apply as respects the years of assessment 2010 to 2014.”, and (b) in section 649B by substituting the following for subsection (6): “(6) This section shall apply to relevant disposals made in the period beginning on 30 October 2009 and ending on 31 December 2014.”.
\nAmendment of Chapter 13 of Part 10 of Principal Act (living city initiative) 32. The Principal Act is amended in Chapter 13 (inserted by section 30 of the Finance Act 2013 ) of Part 10— (a) in section 372AAA— (i) by substituting the following for the definition of “relevant house”: “‘relevant house’ means a building constructed before 1915 for use as a dwelling;”, and (ii) by inserting the following definitions: “‘PPS number’ and ‘tax reference number’ have the same meanings respectively as in section 477B(1);”, (b) in section 372AAB by inserting the following after subsection (2): “(2A) Relief under this section shall not be given unless the following information is provided to the Revenue Commissioners as part of the claim, referred to in subsection (2), made by the individual: (a) the name and PPS number of the individual making the claim; (b) the address of the qualifying premises in respect of which the qualifying expenditure was incurred; (c) the unique identification number (if any) assigned to the qualifying premises under section 27 of the Finance (Local Property Tax) Act 2012 ; and (d) details of the aggregate of all qualifying expenditure incurred by the individual in respect of the qualifying premises. (2B) Any claim made, or information required to be provided, to the Revenue Commissioners under this section, shall be made or provided by electronic means and through such electronic systems as the Revenue Commissioners may make available for the time being for any such purpose.”, and (c) in section 372AAC— (i) in subsection (1) — (I) by substituting the following for the definition of “qualifying expenditure”: “‘qualifying expenditure’, in relation to capital expenditure incurred in the qualifying period on the conversion or the refurbishment of a qualifying premises and subject to subsection (1A), means, notwithstanding section 279, the lesser of— (a) the aggregate of all such capital expenditure, and (b) (i) where the person who incurred the capital expenditure is a company, €1,600,000, or (ii) where the person who incurred the capital expenditure is an individual, €400,000, and, for the purposes of giving relief under this section, any reference to expenditure being incurred shall include a reference to expenditure deemed under any provision of Part 9 to be incurred.”, and (II) by substituting the following for paragraph (b) of the definition of “qualifying premises”: “(b) is— (i) in use for the purposes of the retailing of goods or the provision, only within the State, of services, or
\n(ii) let on bona fide commercial terms for such use as is referred to in subparagraph (i) and for such consideration as might be expected to be paid in a letting of the building or structure negotiated on an arm’s length basis, but does not include any part of a building or structure in use as or as part of a dwelling house.”, (ii) by inserting the following after subsection (1): “(1A) Notwithstanding the definition of qualifying expenditure in subsection (1), where capital expenditure is incurred in the qualifying period on a qualifying premises by 2 or more persons, being either individuals or companies or individuals and companies, the amount of expenditure which is to be treated as qualifying expenditure incurred by each person for the purposes of this section, shall, if necessary and notwithstanding section 279, be reduced, such that the amount determined by the formula— (A x 50 per cent) + (B x 12½ per cent) does not exceed €200,000, where— A is the aggregate of all qualifying expenditure incurred by the individual or individuals, and B is the aggregate of all qualifying expenditure incurred by the company or companies.”, (iii) in subsection (2)(a) by substituting “Subject to paragraph (b) and subsections (4) to (8) ” for “Subject to paragraph (b) and subsections (3) to (8) ”, (iv) by deleting subsection (3), and (v) by inserting the following after subsection (6): “(6A) Relief under this section shall not be given unless the following information is provided to the Revenue Commissioners before the first claim is made by the person in accordance with subsection (2): (a) the name, address and tax reference number of the person making the claim; (b) the address of the qualifying premises in respect of which the qualifying expenditure was incurred; (c) details of the aggregate of all qualifying expenditure incurred by the person in respect of the qualifying premises; and (d) a brief description of the nature of the retail or other service which is provided or is to be provided in the qualifying premises. (6B) Any information required to be provided to the Revenue Commissioners under this section shall be provided by electronic means and through such electronic systems as the Revenue Commissioners may make available for the time being for such purpose.”.
\nAmendment of section 268 of Principal Act (meaning of “industrial building or structure”) 33. (1) Section 268 of the Principal Act is amended by inserting the following after subsection (5): “(5A) Notwithstanding paragraph (n) of subsection (1), expenditure incurred by a person on the construction of a building or structure to which that paragraph applies, shall not be treated as expenditure on an industrial building or structure for the purposes of this Part unless— (a) the building or structure is situated in an area specified in the National Regional Aid Map for the State in relation to the period 1 July 2014 to 31 December 2020, approved under Commission Decision No. N3153/2014 of 21 May 2014 6 , and (b) the expenditure satisfies all of the relevant conditions set out in the European Commission Guidelines on regional state aid for 2014 - 2020, adopted on 19 June 2013 7 , and (c) the following information has been provided to the Revenue Commissioners before the first claim for a writing down allowance is made, in accordance with section 272, by the person who incurred expenditure on the construction of the building or structure: (i) the name, address and tax reference number (within the meaning of section 477B(1)) of the person making the claim; (ii) the address of the building or structure in respect of which the expenditure was incurred or deemed to have been incurred; and (iii) details of the aggregate of the amount of all expenditure incurred or deemed to have been incurred by the person in respect of which the claim is to be made. (5B) Notwithstanding any obligation to the contrary imposed on them by section 851A, the Revenue Commissioners may furnish to one or more persons such information as is referred to in subsection (5A)(c) where the Revenue Commissioners are satisfied that doing so is reasonably related to achieving the following objective. (5C) The objective mentioned in subsection (5B) is ensuring that any claim to relief in respect of expenditure which has been incurred or deemed to have been incurred on the construction of a building or structure to which subsection (1)(n) applies is in compliance with the Guidelines referred to in subsection (5A)(b). (5D) The Minister for Finance shall, after consultation with the Revenue Commissioners, draw up— (a) guidelines for determining whether, and to what extent, expenditure incurred by a person is to be treated as expenditure on the construction of a building or structure to which subsection (1)(n) applies, and
\n(b) guidelines (being guidelines that are expressed to be for the purpose, and which shall operate for the purpose, of enabling full regard to be had to the Guidelines referred in to subsection (5A)(b) as concerns the operation of that provision) whether the foregoing expenditure qualifies for a writing down allowance in accordance with the last-mentioned Guidelines, with particular regard (but not limited) to— (i) any restrictions that may apply as respects aid to firms in difficulties, (ii) the maximum level of aid intensity permitted for enterprises, and (iii) any restrictions that may apply to aid aimed at a reduction of current expenses of an undertaking. (5E) In determining a claim to a writing down allowance that is made in respect of expenditure on the construction of a building or structure, being expenditure claimed to be expenditure to which subsection (1)(n) applies, regard shall be had to whether each of the provisions that are set out in the guidelines drawn up under subsection (5D)(a) and (b) concerning the building or structure and the expenditure, respectively, has been satisfied.”.
\nAmendment of section 812 of Principal Act (taxation of income deemed to arise from transfers of right to receive interest from securities) 34. (1) Section 812 of the Principal Act is amended by inserting the following after subsection (4): “(5) This section shall not apply— (a) where the interest would not be chargeable to tax in the State had it been received by the owner or the beneficiary, as the case may be, at any time in the period commencing with the date of the sale or transfer of the right to receive the interest and ending on the date the interest was paid, or (b) where the owner or the beneficiary, as the case may be, is a person carrying on a trade, profession or business, the profits of which are chargeable to income tax or corporation tax computed in accordance with the provisions or principles applicable to Case I or Case II of Schedule D, and the consideration for the sale or transfer is taken into account in computing, for the purposes of assessment to income tax or corporation tax, the profits of that trade, profession or business.”.
\nAmendment of Part 26 (life assurance companies) and Part 27 (unit trusts and offshore funds) of Principal Act 35. (1) Chapter 6 of Part 26 of the Principal Act is amended— (a) in section 730J by substituting the following for paragraph (a): “(a) where the person is not a company— (i) the rate of income tax to be charged on the income represented by the payment, where the payment is not made in consideration of the disposal, in whole or in part, of the foreign life policy, shall, notwithstanding section 15, be— (I) subject to subparagraph (ii), in the case of a foreign life policy which is a personal portfolio life policy, at the rate of 60 per cent, and (II) in any other case, at the rate of 41 per cent, and (ii) in the case of a foreign life policy which is a personal portfolio life policy and the income represented by the payment is not correctly included in a return made by the person, the income shall, notwithstanding section 15, be charged to income tax at the rate of 80 per cent,”, and (b) in section 730K, in subsection (1), by substituting the following for all of the words from and including “and details of” to the end of that subsection: “then, notwithstanding section 594, the amount of the gain shall be treated as an amount of income chargeable to tax under Case IV of Schedule D, and where the person is not a company the rate of income tax to be charged on that income shall, notwithstanding section 15, be— (a) (i) subject to paragraph (b), in the case of a foreign life policy which is a personal portfolio life policy, at the rate of 60 per cent, and (ii) in any other case, at the rate of 41 per cent, and (b) in the case of a foreign life policy which is a personal portfolio life policy and the details of the disposal are not correctly included in a return made by the person, at the rate of 80 per cent.”.
\nCorporation Tax Amendment of section 80A of Principal Act (taxation of certain short-term leases plant and machinery) 36. Section 80A of the Principal Act is amended in subsection (2A)— (a) in paragraph (c) by inserting “for specified periods ending on or before 31 December 2014,” before “the amount”, (b) in paragraph (f) by substituting “reasonable,” for “reasonable, and”, (c) in paragraph (g) by substituting “nil, and” for “nil.”, and (d) by inserting the following after paragraph (g): “(h) for any specified period ending on or after 1 January 2015, the amount of the wear and tear allowance to be made to the company in accordance with paragraph (a) shall not exceed the amount of amortisation or impairment charged to the profit and loss account in that specified period.”.
\nAmendment of Schedule 4 to Principal Act (exemption of specified non-commercial State-sponsored bodies from certain tax provisions) 37. (1) Schedule 4 to the Principal Act is amended— (a) by inserting the following after paragraph 27A: “27B. The Credit Union Restructuring Board.”, and (b) by inserting the following after paragraph 47: “47A. The Health and Social Care Professionals Council.”.
\nAmendment of section 285A of and Schedule 4A to Principal Act (acceleration of wear and tear allowances for certain energy-efficient equipment) 38. The Principal Act is amended— (a) in section 285A(1), in the definition of “relevant period”, by substituting “31 December 2017” for “31 December 2014”, and (b) by substituting the following for Schedule 4A: “SCHEDULE 4A TABLE (Class of Technology)
\nAmendment of section 486C of Principal Act (relief from tax for certain start-up companies) 39. Section 486C of the Principal Act is amended in subsection (2)(a) by substituting “31 December 2015” for “31 December 2014”.
\nAmendment of Chapter 2 of Part 9 of Principal Act (machinery or plant: initial allowances, wear and tear allowances, balancing allowances and balancing charges) 40. (1) Chapter 2 of Part 9 of the Principal Act is amended— (a) in section 288 by substituting the following for subsection (3C): “(3C) Notwithstanding subsection (3), a balancing charge shall not be made by reference to a wear and tear allowance made to a company (in this subsection referred to as the ‘first-mentioned company’) in respect of capital expenditure incurred on the provision of a specified intangible asset (within the meaning of section 291A) where an event referred to in subsection (1) occurs more than 5 years after the beginning of the accounting period of the company in which the asset was first provided, but if— (a) that event, or any scheme or arrangement which includes that event, results in a company which is connected (within the meaning of section 10) with the first-mentioned company incurring capital expenditure on the specified intangible asset, and (b) for the purposes of this Chapter and Chapter 4, the amount of that expenditure would, apart from this subsection, exceed the amount still unallowed, at the time of the event, of capital expenditure incurred by the first-mentioned company on the provision of that asset, the amount of such expenditure shall be deemed, for those purposes, to be equal to the said amount still unallowed.”, and (b) in section 291A— (i) in subsection (1), in paragraph (g) of the definition of “specified intangible asset”, by substituting “section 768 and, except where such asset is provided directly or indirectly in connection with the transfer of a business as a going concern, customer lists” for “section 768”, and (ii) in subsection (6)(a) by deleting “80 per cent of”.
\nAmendment of section 623 of Principal Act (company ceasing to be member of group) 41. Section 623 of the Principal Act is amended in subsection (4) by inserting the following after “time”: “and, solely for the purpose of determining when such tax is due and payable, as if any tax charged in respect of a chargeable gain that accrued from such a sale and reacquisition were tax for the accounting period of the chargeable company in which it ceases to be a member of the group”.
\nAmendment of Schedule 17A to Principal Act (accounting standards) 42. Schedule 17A to the Principal Act is amended in paragraph 1— (a) in clause (a) by deleting “or”, (b) in clause (b)(ii) by substituting “standards, or” for “standards.”, and (c) by inserting the following clause after clause (b): “(c) in relation to any accounting period beginning on or after 1 January 2015, Irish generally accepted accounting practice based on published standards to the extent that practice is based on the provisions of those published standards that are stated to embody international accounting standards.”.
\nCompany residence 43. (1) The Principal Act is amended— (a) by substituting the following for section 23A: “(1) Subject to subsection (2), a company which is incorporated in the State shall be regarded for the purposes of the Tax Acts and the Capital Gains Tax Acts as resident in the State.
\nAmendment of section 626B of Principal Act (exemption from tax in the case of gains on certain disposals of shares) 44. (1) Section 626B of the Principal Act is amended by inserting the following after subsection (3): “(3A) (a) In this subsection ‘relevant treatment of a gain’ means the treatment, provided by this section or section 626C, of a gain as not being a chargeable gain. (b) Notwithstanding any provision of section 590, the relevant treatment of a gain shall not apply for the purposes of section 590, but this is subject to paragraph (c). (c) The relevant treatment of a gain shall apply for the purposes of section 590 where the participator (within the meaning of that section) is a company.”.
\nCapital Gains Tax Amendment of certain provisions of Principal Act 45. (1) The Principal Act is amended— (a) in section 598(6)(b) by deleting “and such assessment may be made at any time not more than 10 years”, (b) in section 599(4) by deleting paragraph (b), and (c) in section 611(1) by deleting paragraph (c).
\nAmendment of section 29A of Principal Act (temporary non-residents) 46. (1) Section 29A of the Principal Act is amended by inserting the following after subsection (3): “(3A) Notwithstanding subsection (3), where the market value of the relevant assets on the day they were disposed of is greater or less than the market value of those assets on the last day of the year, referred to in that subsection, that greater or lesser market value shall be substituted for the market value on that last day of the year.”.
\nAmendment of section 560 of Principal Act (wasting assets) 47. (1) Section 560 of the Principal Act is amended in subsection (1) — (a) in the definition of “wasting asset”— (i) in paragraph (c) by inserting “(other than plant that is a work of art)” after “plant”, and (ii) in paragraph (d) by substituting “Commissioners;” for “Commissioners.”, and (b) by inserting the following definition after the definition of “wasting asset”: “‘work of art’ includes a picture, print, book, manuscript, sculpture, piece of jewellery, furniture or similar object;”.
\nTax treatment of return of value on certain shares 48. The following section is inserted after section 848A of the Principal Act: “Tax treatment of return of value on certain shares 848AA. (1) In this section— ‘company’ means Vodafone plc; ‘relevant legislation’ means Part 26 of the Act of the British Parliament entitled the Companies Act 2006; ‘return of value’ means the special dividend paid in respect of fully paid bonus C shares issued to shareholders in the company in accordance with the terms of a return of value and related share consolidation, provided for by means of a scheme of arrangement under the relevant legislation, and which was completed by the company on or about 21 February 2014.
\nAmendment of section 604B of Principal Act (relief for farm restructuring) 49. Section 604B of the Principal Act is amended in subsection (1)(a) — (a) by substituting the following for the definition of “agricultural land”: “‘agricultural land’ means land used for the purposes of farming but does not include buildings on the land;”, and (b) in the definition of “relevant period” by substituting “31 December 2016” for “31 December 2015”.
\nAmendment of section 598 of Principal Act (disposals of business or farm on “retirement”) 50. (1) Section 598 of the Principal Act is amended in subsection (1) — (a) in paragraph (a), in the definition of “qualifying assets”, by substituting the following for paragraph (v): “(v) land which has been let by the individual at any time in the period of 25 years ending with the disposal where— (I) immediately before the time the land was first let in that period of 25 years, the land was owned by the individual and used for the purposes of farming carried on by the individual for a period of not less than 10 years ending at that time, and (II) the disposal is— (A) to a child (within the meaning of section 599) of the individual, (B) to an individual, other than a child referred to in clause (A), where that disposal occurs on or before 31 December 2016, or (C) to an individual, other than a child referred to in clause (A), provided the land was let to a person for the purposes of farming during the period of 25 years referred to in subparagraph (I) and each letting of the land was for a period of not less than 5 consecutive years;”, and (b) by inserting the following after paragraph (d): “(e) For the purposes of paragraph (v)(II)(C) in the definition of ‘qualifying assets’, land let under one or more than one conacre agreement before 31 December 2016 shall not affect entitlement to relief under this section, where a letting of the land for a period of not less than 5 consecutive years commences on or before 31 December 2016.”.
\nExemption of certain payment entitlements 51. The Principal Act is amended by inserting the following section after section 604B: “Exemption of certain payment entitlements 604C. (1) In this section— ‘farmer’ and ‘payment entitlement’ have the same meanings, respectively, as they have for the purposes of Council Regulation (EC) No. 73/2009 of 19 January 2009 8 ; ‘scheme year 2013’ means the period beginning on 16 May 2012 and ending on 15 May 2013; ‘scheme year 2014’ means the period beginning on 16 May 2013 and ending on 15 May 2014.
\nAmendment of section 597A of Principal Act (entrepreneur relief) 52. (1) The Principal Act is amended by substituting the following section for section 597A: “597A. (1) In this section— ‘chargeable business asset’ means an asset, including goodwill but not including shares (other than shares mentioned in paragraph (b)), securities or other assets held as investments, where that asset is acquired at a cost of not less than €10,000 on or after 1 January 2014 but on or before 31 December 2018 and which— (a) is, or is an interest in, an asset used wholly for the purposes of a new business carried on by a qualifying enterprise, or (b) is a holding of new ordinary shares, issued on or after 1 January 2014— (i) in a qualifying company carrying on new business, or (ii) in a holding company which owns 100 per cent of the ordinary share capital of a qualifying company carrying on new business, of which an individual claiming relief under this section— (I) owns not less than 15 per cent of the ordinary share capital of the qualifying company or the holding company, and (II) is a full-time working director of the qualifying company, other than an asset on the disposal of which no gain accruing would be a chargeable gain; ‘full-time working director’, in relation to a qualifying company, means a director required to devote substantially the whole of his or her time to the service of the company in a managerial or technical capacity; ‘holding company’ means a company that is not listed on the official list of any stock exchange whose business consists wholly of holding shares in a qualifying company; ‘initial risk finance investment’ means the funding of the qualifying enterprise for the purpose of new business which funding— (a) must not exceed a total of €15 million, (b) is provided in full within 6 months of the commencement of the new business, and (c) includes equity or investment or both; ‘new business’ means relevant trading activities carried on— (a) by a qualifying enterprise (to which paragraph (a) of the definition of ‘qualifying enterprise’ applies) that were not, prior to 1 January 2014, carried on by that qualifying enterprise or by any person connected (within the meaning of section 10) with that qualifying enterprise, or (b) by a qualifying enterprise (to which paragraph (b) of the definition of ‘qualifying enterprise’ applies) that were not, prior to 1 January 2014, carried on by that qualifying enterprise or by any person connected (within the meaning of section 10) with that qualifying enterprise,
\nbut shall not include any relevant trading activities the products, goods or services of which are substantially the same as products, goods or services previously provided by any individual claiming relief under this section or by any person connected with that individual; ‘qualifying company’ is a company that is a qualifying enterprise and which, at the time of the making of the initial risk finance investment, is not listed on the official list of any stock exchange; ‘qualifying enterprise’ means an enterprise which, at the time of the making of the initial risk finance investment, is a micro, small or medium-sized enterprise, as defined in Article 2 of the Annex to Commission Recommendation 2003/361/EC of 6 May 2003 9 and which— (a) has not been carrying on any business, trade or profession, or (b) has been carrying on a business, trade or profession for less than 7 years; ‘relevant trading activities’ has the same meaning as it has in section 488 and includes farming (within the meaning of section 654).
\nExcise Amendment of section 136 of Finance Act 2001 (entry and search of premises) 53.
\nof the Finance Act 2001 is amended by substituting the following paragraph for paragraph (c) of subsection (1): “(c) bets liable to betting duty are reasonably believed to be accepted or facilities, the use of which is subject to commission charges (within the meaning of section 67B of the Finance Act 2002 ) liable to betting intermediary duty, are reasonably believed to be provided,”.
\nAmendment of section 21 of Betting Act 1931 (hours of business of registered premises) 54. The Betting Act 1931 is amended by substituting the following section for section 21: “21. (1) Registered premises shall not be opened or kept open for the transaction of business— (a) at any time on Christmas Day or Good Friday, or (b) before 7 o’clock in the morning or after 10 o’clock in the evening on any other day.
\nAmendment of section 96 of Finance Act 1999 (rates) 55. (1)
\nof the Finance Act 1999 is amended in subsection (5) by substituting “mineral oil tax” for “the carbon charge”.
\nAmendment of Chapter 1 of Part 2 of Finance Act 1999 (mineral oil tax) 56. (1) Chapter 1 of Part 2 of the Finance Act 1999 is amended— (a) in section 94(1) — (i) by substituting the following for the definition of “additive”: “‘additive’ means any product (other than hydrocarbon oil, liquefied petroleum gas, substitute fuel or vehicle gas) which may be added to— (a) hydrocarbon oil, (b) liquefied petroleum gas, (c) substitute fuel, or (d) vehicle gas, as an extender or for the purpose of improving performance or for any other purpose, and cognate words shall be construed accordingly;”, (ii) by substituting the following for the definition of “liquefied petroleum gas”: “‘liquefied petroleum gas’ means gas classified within CN Codes 2711 12 11 to 2711 19 00;”, (iii) by substituting the following for the definition of “mineral oil”: “‘mineral oil’ means hydrocarbon oil, liquefied petroleum gas, vehicle gas, substitute fuel and additives;”, (iv) in the definition of “hydrocarbon oil” by substituting “include vehicle gas or any oil” for “include any oil”, (v) by inserting the following definitions: “‘biogas’ means vehicle gas obtained solely from biomass; ‘CN Code’ means a Community subdivision to the combined nomenclature of the European Communities referred to in Article 1 of Council Regulation (EEC) No. 2658/87 of 23 July 1987 10 as amended by Commission Regulation (EC) No. 2031/2001 of 6 August 2001 11 ; ‘production of vehicle gas’ means compressing, liquefying, regasification, packaging, or any other process by which vehicle gas is produced and made available; ‘vehicle gas’ means gas other than liquefied petroleum gas used or intended for use as vehicle fuel;”, and (vi) by deleting the definition of “methane”, (b) in section 94(2)(b)(ii) by substituting “oil or gas” for “oil”, (c) in section 95 by substituting the following for subsections (1) and (2): “(1) Subject to the provisions of this Chapter, and any regulations made under it, a duty of excise, to be known as mineral oil tax, shall be charged, levied and paid— (a) on all mineral oil other than vehicle gas— (i) released for consumption in the State, or (ii) released for consumption in another Member State, and brought into the State, and (b) on all vehicle gas— (i) produced in the State, or (ii) brought into the State.
\nPetrol €587.71 per 1,000 litres Aviation gasoline €587.71 per 1,000 litres Heavy Oil:
\nUsed as a propellant €479.02 per 1,000 litres Used for air navigation €479.02 per 1,000 litres Used for private pleasure navigation €479.02 per 1,000 litres Kerosene used other than as a propellant €50.73 per 1,000 litres Fuel oil €76.53 per 1,000 litres Other heavy oil €102.28 per 1,000 litres Liquefied Petroleum Gas:
\nUsed as a propellant €96.45 per 1,000 litres Other liquefied petroleum gas €32.86 per 1,000 litres Vehicle gas: €9.36 per megawatt hour ”, and (j) by substituting the following for Schedule 2A: “SCHEDULE 2A Carbon Charge Description of Mineral Oil Rate Light Oil:
\nPetrol €45.87 per 1,000 litres Aviation gasoline €45.87 per 1,000 litres Heavy Oil:
\nUsed as a propellant €53.30 per 1,000 litres Used for air navigation €53.30 per 1,000 litres Used for private pleasure navigation €53.30 per 1,000 litres Kerosene used other than as a propellant €50.73 per 1,000 litres Fuel oil €61.75 per 1,000 litres Other heavy oil €54.92 per 1,000 litres Liquefied Petroleum Gas:
\nUsed as a propellant €32.86 per 1,000 litres Other liquefied petroleum gas €32.86 per 1,000 litres Vehicle gas: €4.10 per megawatt hour ”.
\n(2)
\nof the Finance Act 2001 is amended by substituting the following for paragraph (c): “(c) mineral oils within the meaning of section 94 of the Finance Act 1999 , other than vehicle gas within the meaning of that section.”.
\nAmendment of section 101 of Finance Act 1999 (licensing of mineral oil traders) 57.
\nof the Finance Act 1999 is amended— (a) by inserting the following subsection after subsection (6): “(6A) The granting to, or the holding by, an applicant or holder, as the case may be, of an auto-fuel trader’s licence or a marked fuel trader’s licence shall be conditional on the applicant or holder complying with excise law in relation to the production, sale or dealing in, keeping or delivery of mineral oil, including the requirements of this section relating to the systems (including the measuring systems) and procedures of the business to which the auto-fuel trader’s licence or the marked fuel trader’s licence relates.”, (b) by substituting the following for subsections (8) and (9): “(8) An auto-fuel trader’s licence or a marked fuel trader’s licence shall not be granted— (a) where the applicant (or, where the applicant is a company, any director or person having control, within the meaning of section 11 of the Taxes Consolidation Act 1997 , of that company) has, in the 10 years prior to the date of the application, been convicted of— (i) any indictable offence under the Acts referred to in section 1078
\nand (d) by inserting the following after subsection (12): “(12A) Where the holder of an auto-fuel trader’s licence or a marked fuel trader’s licence ceases to produce, sell or deal in, keep for sale or delivery, or deliver mineral oil under that licence at the premises to which the licence relates— (a) the licence shall cease to have effect, and (b) the holder of the licence shall notify the Commissioners, in writing, of the cessation of the activity for which the licence was granted at the premises concerned not later than 7 days after the licence ceases to have effect.”.
\nAmendment of section 96 of Finance Act 2001 (interpretation (Part 2)) 58.
\nof the Finance Act 2001 is amended in subsection (1) — (a) by inserting the following definitions: “‘alcohol products’ has the meaning assigned to it by paragraph (a) of section 97; ‘beer’ has the same meaning as it has in section 73 of the Finance Act 2003 ; ‘other fermented beverages’ has the same meaning as it has in section 73 of the Finance Act 2003 ;”, (b) by substituting the following for the definition of “spirits”: “‘spirits’ has the same meaning as it has in section 73 of the Finance Act 2003 ;”, (c) by substituting the following for the definition of “mineral oil”: “‘mineral oils’ has the meaning assigned to it by paragraph (c) of section 97;”, and (d) in the definition of “tobacco products” by substituting “section 97” for “section 97(1) ”.
\nAmendment of section 78A of Finance Act 2003 (relief for small breweries) 59. (1) Section 78A of the Finance Act 2003 is amended— (a) in subsection (1) by substituting “30,000 hectolitres” for “20,000 hectolitres” in each place, (b) in subsection (3)(b)(ii) by substituting “60,000 hectolitres” for “40,000 hectolitres”, and (c) in subsection (4)(b) by substituting “30,000 hectolitres” for “20,000 hectolitres”.
\nRates of tobacco products tax 60. The Finance Act 2005 is amended with effect as on and from 15 October 2014 by substituting the following for Schedule 2 to that Act (as amended by section 52 of the Finance (No. 2) Act 2013 ): “SCHEDULE 2 Rates of Tobacco Products Tax (With effect as on and from 15 October 2014) ”.
\nAmendment of section 92 of Finance Act 1989 (tax concessions for disabled drivers, etc.) 61.
\nof the Finance Act 1989 is amended in subsection (1) by substituting the following for subparagraph (ii): “(ii) as a passenger, where the vehicle has been specially constructed or adapted to take account of the passenger’s disablement.”.
\nAmendment of section 135C of Finance Act 1992 (remission or repayment in respect of vehicle registration tax, etc.) 62. Section 135C of the Finance Act 1992 is amended by substituting “31 December 2016” for “31 December 2014” in each place.
\nAmendment of section 135D of Finance Act 1992 (repayment of amounts of vehicle registration tax on export of certain vehicles) 63. (1) Section 135D of the Finance Act 1992 is amended by substituting the following for subsection (2): “(2) The amount of vehicle registration tax to be repaid shall— (a) be calculated by reference to the open market selling price (being that price as determined by the Commissioners) of the vehicle at the time of the examination referred to in subsection (1)(d), and (b) include an amount that is calculated by means of one or more than one formula or other means of calculation as may be prescribed by the Minister by regulations made by him or her under section 141.”.
\nAmendment of section 141 of Finance Act 1992 (regulations) 64. Section 141 of the Finance Act 1992 is amended by inserting the following after subsection (3A): “(3B) The Minister may make such regulations as he or she considers necessary or expedient for the purpose of prescribing one or more than one formula or other means of calculation for the purposes of the amount referred to in section 135D(2)(b).”.
\nValue-Added Tax Interpretation (Part 3) 65. In this Part “Principal Act” means the Value-Added Tax Consolidation Act 2010 .
\nAmendment of section 84 of Principal Act (duty to keep records) 66. Section 84 of the Principal Act is amended— (a) in subsection (3) — (i) in paragraph (b) by substituting “procurement of the person;” for “procurement of the person; and”, (ii) in paragraph (c) by substituting “procurement of the person; and” for “procurement of the person,”, (iii) by inserting the following paragraph after paragraph (c): “(d) any linking documents that are in the power, possession or procurement of the person,”, and (iv) by substituting “records, linking documents, invoices, or any of the other documents” for “records, invoices, or any of the other documents”, (b) in subsection (4) — (i) in paragraph (a) by substituting “shall retain records and linking documents” for “shall retain records”, (ii) in paragraph (b) — (I) by substituting “shall retain records and linking documents” for “shall retain records”, and (II) by substituting “6 years;” for “6 years.”, and (iii) by inserting the following paragraph after paragraph (b): “(c) in the case of records and linking documents (required to be kept by a person pursuant to this Chapter) that relate to a transaction and to any return (required to be furnished in accordance with section 76 or 77) for a period in which the transaction affects or may affect the person’s liability to tax or entitlement to deductibility, where that transaction is the subject of— (i) an inquiry or investigation started by the Revenue Commissioners or by a Revenue officer into any matter to which this Act relates, (ii) a claim made under a provision of this Act, (iii) an appeal to the Appeal Commissioners under a provision of this Act, or (iv) proceedings relating to any matter to which this Act relates, those records and linking documents shall be retained in that person’s power, possession or procurement for the longer of— (I) a period of 6 years from the date of the transaction, and (II) until such time as— (A) the inquiry or investigation has been completed, or the claim has been determined, and (B) any appeal to the Appeal Commissioners in relation to the outcome of that inquiry or investigation or the determination of that claim, or to any other matter to which the Act relates, has become final and conclusive, and (C) any proceedings in relation to the outcome of that inquiry or investigation or the determination of that claim or that appeal, or to any other matter to which the Act relates, has been finally determined, and (D) the time limit for instituting any appeal or proceedings or any further appeal or proceedings has expired.”,
\n(c) in subsection (5) by substituting “retention of records, linking documents or invoices” for “retention of records or invoices”, and (d) by inserting the following subsection after subsection (5): “(6) In this section ‘linking documents’ means documents drawn up in the making up of accounts and returns and showing details of the calculations linking the records required to be kept by a person pursuant to this Chapter to the accounts and returns.”.
\nAmendment of section 86 of Principal Act (special provisions for tax invoiced by flat-rate farmers) 67. Section 86 of the Principal Act is amended in subsection (1) with effect from 1 January 2015 by substituting “5.2 per cent” for “5 per cent”.
\nAmendment of Part 13 of Principal Act (administration and general) 68. Part 13 of the Principal Act is amended— (a) by inserting the following Chapter heading before section 108A: “Chapter 1A Special measures for the protection of the tax”, (b) by inserting the following section after section 108A: “Notice of requirement to issue a document 108B. (1) The Revenue Commissioners may, for the purposes of an inquiry or investigation, where they have reasonable grounds to believe that the service of such a notice may assist in the prevention and detection of tax evasion, serve a notice in writing on an accountable person, requiring such person, for such period as is specified in the notice, in relation to each supply of taxable goods or services made by that person to which the provisions of section 66(1)(a) do not apply, to issue, at the time of such supply, a document which shall— (a) contain all the particulars that would be required by regulations to be included in the document if that document were an invoice required to be issued in accordance with section 66(1)(a), and (b) unless subsection (2) applies, state that the document is issued under section 108B of the Value-Added Tax Consolidation Act 2010 .
\nJoint and several liability for tax 69. (1) The Principal Act is amended by inserting the following after section 108B, which is inserted by section 68 : “Joint and several liability for tax 108C. (1) In this section— ‘first accountable person’ means the person who, in relation to any taxable supply of goods or services or intra-Community acquisition of goods chargeable to tax in accordance with section 3(a), (c), (d) or (e) is, apart from this section, liable to pay the tax chargeable in accordance with Chapter 3 of Part 9; ‘second accountable person’ means a person, other than the first accountable person, who participates as a purchaser or as a supplier in a series of taxable supplies; ‘series of taxable supplies’ means a supply of taxable goods or services made or received by an accountable person and any previous or subsequent supply of those taxable goods or services made or received by other accountable persons and includes intra-Community acquisitions of goods.
\nAmendment of section 111 of Principal Act (assessment of tax due) 70. Section 111 of the Principal Act is amended in subsection (2)(a) by substituting “if he or she is aggrieved by the assessment” for “if he or she claims that the amount due is excessive”.
\nAmendment of Schedule 1 (exempt activities), Schedule 2 (zero-rated goods and services) and Schedule 3 (goods and services chargeable at the reduced rate) to Principal Act 71. (1) Schedule 1 to the Principal Act is amended— (a) by substituting the following subparagraph for subparagraph (4) of paragraph 3: “(4) The provision by non-profit making organisations of— (a) facilities for participation in— (i) sporting activities, including golf, or (ii) physical educational activities, or (b) services closely related to the provision of those facilities.”, (b) in paragraph 4 by inserting the following subparagraph after subparagraph (2) — “(2A) The supply of services for the protection or care of children and young persons where such services are— (a) referred to in the Child Care (Placement of Children in Foster Care) Regulations 1995, and (b) provided by persons with whom arrangements have been made under section 58
\nStamp Duties Interpretation (Part 4) 72. In this Part “Principal Act” means the Stamp Duties Consolidation Act 1999 .
\nAccountable persons in relation to stamp duty 73. The Principal Act is amended— (a) in section 1— (i) in subsection (1), in the definition of “accountable person”, by inserting “(subject to subsection (1A))” after “means”, and (ii) by inserting the following after subsection (1): “(1A) The following persons shall not be accountable persons for the purposes of this Act: (a) the National Treasury Management Agency; (b) the Minister in relation to a function exercised by the Minister which is capable of being delegated to the National Treasury Management Agency under section 5 of the National Treasury Management Agency Act 1990 .”, and (b) by deleting section 108.
\nRelief for certain leases of farmland 74. (1) The Principal Act is amended by inserting the following section after section 81C: “81D. (1) In this section ‘farming’ includes the occupation of woodlands on a commercial basis.
\nAmendment of section 113 of Principal Act (miscellaneous instruments) 75. Section 113 of the Principal Act is amended in paragraph (a) — (a) by inserting “or any other interest” after “shares”, and (b) by substituting the following for subparagraph (i): “(i) stocks, funds or securities of the Government, Oireachtas, the Minister or any other Minister of the Government,”.
\nAmendment of section 126B of Principal Act (assessment of duty charged on statements) 76. Section 126B of the Principal Act is amended in subsection (1) — (a) in the definition of “relevant person”— (i) in paragraph (f) by deleting “or”, (ii) in paragraph (g) by substituting “section 125B, or” for “section 125B;”, and (iii) by inserting the following after paragraph (g): “(h) a relevant person within the meaning of section 126AA;”, and (b) in the definition of “specified section” by substituting “125A, 125B or 126AA” for “125A or 125B”.
\nAmendment of Schedule 1 to Principal Act (stamp duties on instruments) 77. (1) Schedule 1 to the Principal Act is amended— (a) in paragraph (5) under the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance”— (i) by inserting “of property that is land” after “inter vivos”, (ii) by substituting the following for subparagraph (a): “(a) the instrument is executed— (i) on or after 1 January 2015 and before 1 January 2016, or (ii) on or after 1 January 2016 and before 1 January 2018 and the individual by whom the property is being conveyed or transferred has not, at the date of the conveyance or transfer, attained the age of 67 years, (aa) the individual to whom the property is being conveyed or transferred is an individual— (i) who, from the date of conveyance or transfer and for a period of not less than 6 years thereafter— (I) farms the land, or (II) leases it for a period of not less than 6 years to an individual who farms the land, and (ii) who, in a case where subclause (I) applies— (I) is the holder of or, within a period of 4 years from the date of transfer or conveyance, will be the holder of, a qualification set out in Schedule 2, 2A or 2B to the Act, or (II) spends not less than 50 per cent of that individual’s normal working time farming land (including the land conveyed or transferred), (ab) in a case where subparagraph (aa)(i)(II) applies, the individual to whom the land is leased— (i) is the holder of or, within a period of 4 years from the date of transfer or conveyance, will be the holder of, a qualification set out in Schedule 2, 2A or 2B to the Act, or (ii) spends not less than 50 per cent of that individual’s normal working time farming land (including the land conveyed or transferred), (ac) the land is farmed on a commercial basis and with a view to the realisation of profits from that land, and”, and (iii) in subparagraph (b) by deleting “the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that”, and (b) by inserting the following paragraph after paragraph (5): “(5A) Where any of the conditions in paragraph (5) are not complied with, at the time of the conveyance or transfer or subsequently, paragraph (5) shall not apply, any additional duty shall be chargeable by reference to the rate of duty in paragraph (4) and the provisions of this Act, in relation to the delivering of returns, the charging of interest and (where appropriate) the incurring of a penalty shall apply from the date on which compliance with any such condition ceases.”.
\nAmendment of Schedule 2B to Principal Act (qualifications for applying for relief from stamp duty in respect of transfers to young trained farmers) 78. Schedule 2B to the Principal Act is amended in paragraph 2 by substituting the following for subparagraph (p): “(p) Higher Certificate in Science Applied Agriculture; (q) Bachelor of Science (Honours) in Sustainable Agriculture.”.
\nCapital Acquisitions Tax Interpretation (Part 5) 79. In this Part “Principal Act” means the Capital Acquisitions Tax Consolidation Act 2003 .
\nAmendment of section 17 of Principal Act (exemptions) 80. (1) Section 17 of the Principal Act is amended— (a) in subsection (1) by substituting the following for paragraph (a): “(a) for purposes which, in accordance with the law of the State, are public or charitable,”, and (b) by inserting the following after subsection (1): “(1A) For the purposes of subsection (1)(a) a discretionary trust that is at any time a party to any arrangements the main purpose (or one of the main purposes) of which is to secure a tax advantage for any person shall be regarded as not having been created exclusively for purposes which, in accordance with the law of the State, are public or charitable. (1B) For the purposes of subsection (1A)— ‘arrangements’ includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable); ‘tax advantage’ has the same meaning as in section 811 of the Taxes Consolidation Act 1997 .”.
\nAmendment of section 82 of Principal Act (exemption of certain receipts) 81. (1) Section 82 of the Principal Act is amended— (a) in subsection (2) by substituting the following for paragraph (a): “(a) by— (i) a minor child of the disponer or of the civil partner of the disponer, or (ii) a child of the disponer, or of the civil partner of the disponer, who is more than 18 years of age but not more than 25 years of age and is receiving full-time education or instruction at any university, college, school or other educational establishment, or who, regardless of age, is permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself, or (iii) a person in relation to whom the disponer stands in loco parentis, for support, maintenance or education, or”, (b) by substituting the following for subsection (4): “(4) The receipt by— (a) a minor child of the disponer or of the civil partner of the disponer, or (b) a child of the disponer, or of the civil partner of the disponer, who is more than 18 years of age but not more than 25 years of age and is receiving full-time education or instruction at any university, college, school or other educational establishment, or who, regardless of age, is permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself, of money or money’s worth for support, maintenance or education, at a time when the disponer and the other parent of any such minor child or child of the disponer are dead or, in the case of any such minor child or child of the civil partner of the disponer, when the disponer and the civil partner are dead, is not a gift or an inheritance where the provision of such support, maintenance or education— (i) is such as would be part of the normal expenditure of a person in the circumstances of the disponer immediately before the death of the disponer, and (ii) is reasonable having regard to the financial circumstances of the disponer immediately before the death of the disponer.”, and (c) by inserting the following subsections after subsection (4): “(5) The references in subsections (2) and (4) to a child receiving full-time education or instruction at an educational establishment shall include references to a child undergoing training by any person (in subsection (6) referred to as ‘the employer’) for any trade or profession in such circumstances that the child is required to devote the whole of his or her time to such training for a period of not less than 2 years.
\nAmendment of section 89 of Principal Act (provisions relating to agricultural property) 82. (1) Section 89 of the Principal Act is amended— (a) in subsection (1) by substituting the following for the definition of “farmer”: “‘farmer’, in relation to a donee or successor, means an individual in respect of whom not less than 80 per cent of the market value of the property to which the individual is beneficially entitled in possession is represented by the market value of property in a Member State which consists of agricultural property, and, for the purposes of this definition— (a) no deduction is made from the market value of property for any debts or encumbrances (except debts or encumbrances in respect of a dwelling-house that is the only or main residence of the donee or successor and that is not agricultural property), and (b) an individual is deemed to be beneficially entitled in possession to— (i) an interest in expectancy, notwithstanding the definition of ‘entitled in possession’ in section 2, and (ii) property that is subject to a discretionary trust under or in consequence of a disposition made by the individual where the individual is an object of the trust, and who— (i) is the holder of any of the qualifications set out in Schedule 2, 2A or 2B to the Stamp Duties Consolidation Act 1999 , or who achieves such a qualification within a period of 4 years commencing on the date of the gift or inheritance, and who for a period of not less than 6 years commencing on the valuation date of the gift or inheritance farms agricultural property (including the agricultural property comprised in the gift or inheritance) on a commercial basis and with a view to the realisation of profits from that agricultural property, (ii) for a period of not less than 6 years commencing on the valuation date of the gift or inheritance spends not less than 50 per cent of that individual’s normal working time farming agricultural property (including the agricultural property comprised in the gift or inheritance) on a commercial basis and with a view to the realisation of profits from that agricultural property, or (iii) leases the whole or substantially the whole of the agricultural property, comprised in the gift or inheritance for a period of not less than 6 years commencing on the valuation date of the gift or inheritance, to an individual who satisfies the conditions in paragraph (i) or (ii).”, and (b) by inserting the following after subsection (4A): “(4B) Where a donee, successor or lessee ceases to qualify as a farmer under subsection (1) within the period of 6 years commencing on the valuation date of the gift or inheritance, all or, as the case may be, part of the agricultural property shall for the purposes of subsection (2), otherwise than on the death of the donee, successor or lessee, be treated as property comprised in the gift or inheritance that is not agricultural property, and the taxable value of the gift or inheritance shall be determined accordingly and tax shall be payable accordingly.”.
\nAmendment of section 93 of Principal Act (relevant business property) 83. (1) Section 93 of the Principal Act is amended in subsection (1)(e) by inserting “, or that person and his or her spouse or civil partner,” after “that person”.
\nMiscellaneous Interpretation (Part 6) 84. In this Part “Principal Act” means the Taxes Consolidation Act 1997 .
\nDomicile levy: penalties for failure to make a return 85. The Principal Act is amended— (a) in section 531AF by inserting the following after subsection (1): “(1A) Where the Revenue Commissioners have reason to believe that an individual is chargeable to domicile levy for any year on the basis that he or she is a relevant individual for that year, the Revenue Commissioners may, by notice in writing, request the individual to deliver, within 30 days of the date of the notice, a full and true return, together with the payment of domicile levy, of all such matters and particulars in relation to the determination of liability to domicile levy as the Revenue Commissioners may require.”, (b) in section 1077E(1), in the definition of “tax”, by inserting “domicile levy,” before “income levy”, and (c) in Schedule 29, in column 1, by inserting “section 531AF” after “section 477”.
\nAmendment of section 959B of Principal Act (supplemental interpretation provisions) 86. Section 959B(1) of the Principal Act is amended by substituting the following for “if the income from that other source or those other sources is taken into account in determining the amount of his or her tax credits and standard rate cut-off point for the tax year applicable to those emoluments, and, for the purposes of deciding whether such income should be so taken into account, the Revenue Commissioners may have regard to the amount for that, or any previous, tax year of the income of the person from that other source or those other sources before deductions, losses, allowances and other reliefs,”: “if the income from that other source or those other sources, which does not exceed €3,174 in total— (i) is taken into account in determining the amount of his or her tax credits and standard rate cut-off point for the tax year applicable to those emoluments, or (ii) is fully taxed at source under section 261, and, for the purposes of deciding whether such income should be taken into account in determining the amount of tax credits and standard rate cut-off point for the tax year, the Revenue Commissioners may have regard to the amount for that, or any previous, tax year of the income of the person from that other source or those other sources before deductions, losses, allowances and other reliefs,”.
\nAmendment of general anti-avoidance rule 87. (1) Chapter 2 of Part 33 of the Principal Act is amended— (a) in section 811 by inserting the following subsection after subsection (13) of section 811: “(14) This section shall only apply to a transaction which was commenced on or before 23 October 2014.”, (b) in section 811A by— (i) inserting the following subsection after subsection (2): “(2A) (a) In this subsection ‘qualifying avoidance disclosure’ means a disclosure that the Revenue Commissioners are satisfied is a disclosure of complete information in relation to, and full particulars of, a transaction that is a tax avoidance transaction or that, had the Revenue Commissioners formed the opinion that the transaction was a tax avoidance transaction, would occasion a liability to tax pursuant to section 811, made in writing to the Revenue Commissioners and signed by or on behalf of that person and which is accompanied by— (i) a declaration, to the best of that person’s knowledge, information and belief, made in writing, that all matters contained in the disclosure are correct and complete, and (ii) a payment of any tax due and payable in respect of any matter contained in the disclosure and the interest payable on the late payment of that tax. (b) Where on or before 30 June 2015 the Revenue Commissioners receive a qualifying avoidance disclosure in relation to a transaction then— (i) the surcharge referred to in subsection (2) shall not apply, and (ii) the amount of any interest payable under the Acts shall be the amount that, apart from this subparagraph, would be so payable reduced by 20 per cent of that amount.”, (ii) inserting the following after subsection (7): “(8) This section shall only apply to a transaction which was commenced on or before 23 October 2014.”, (c) by inserting the following sections after section 811B: “Transactions to avoid liability to tax 811C. (1) (a) In this section and section 811D— ‘the Acts’ means— (i) the Tax Acts, (ii) the Capital Gains Tax Acts, (iii) the Value-Added Tax Consolidation Act 2010 , and the enactments amending or extending that Act, (iv) the Capital Acquisitions Tax Consolidation Act 2003 , and the enactments amending or extending that Act, (v) the Stamp Duties Consolidation Act 1999 , and the enactments amending or extending that Act, and (vi) Part 18D, and any instruments made thereunder; ‘assessment’ includes any assessment to tax made under any provision of the Acts including any amended assessment, correcting assessment and any estimate or estimation;
\n‘business’ means any trade, profession or vocation; ‘Revenue officer’ means an officer of the Revenue Commissioners; ‘tax’ means any tax, duty, levy or charge which in accordance with the Acts is placed under the care and management of the Revenue Commissioners and any interest or other amount payable pursuant to the Acts; ‘tax advantage’ means— (i) a reduction, avoidance or deferral of any charge or assessment to tax, including any potential or prospective charge or assessment, or (ii) a refund of or a payment of an amount of tax, or an increase in an amount of tax, refundable or otherwise payable to a person, including any potential or prospective amount so refundable or payable, arising out of or by reason of a transaction, including a transaction where another transaction would not have been undertaken or arranged to achieve the results, or any part of the results, achieved or intended to be achieved by the transaction; ‘tax avoidance transaction’ has the meaning assigned to it by subsection (2) ; ‘transaction’ means— (i) any transaction, action, course of action, course of conduct, scheme, plan or proposal, (ii) any agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable or intended to be enforceable by legal proceedings, and (iii) any series of or combination of the circumstances referred to in paragraphs (i) and (ii), whether entered into or arranged by one person or by 2 or more persons— (I) whether acting in concert or not, (II) whether or not entered into or arranged wholly or partly outside the State, or (III) whether or not entered into or arranged as part of a larger transaction or in conjunction with any other transaction or transactions. (b) This section and section 811D shall apply notwithstanding any other provision of the Acts.
\nTransactions to avoid liability to tax: surcharge, interest and protective notifications 811D. (1) For the purposes of this section— ‘chargeable period’ has the meaning assigned to it in Part 41A; ‘disclosable transaction’ has the meaning assigned to it in Chapter 3 of this Part but for the purposes of this section, a transaction shall not be a disclosable transaction if— (a) the transaction was disclosable by a promoter, pursuant to Chapter 3 of this Part, and not by a person who enters into any transaction which is or forms part of a transaction which is disclosable under section 817F, 817G or 817H, (b) by the specified return date, within the meaning of Part 41A, for a return referred to in section 817HA(3), the transaction was not assigned a transaction number, within the meaning of Chapter 3 of this Part, or the person, in whose name or on whose behalf a qualifying avoidance disclosure or a protective notification is made, was not provided with a transaction number by a promoter or marketer, within the meaning of Chapter 3 of this Part, (c) the person in whose name or on whose behalf a qualifying avoidance disclosure or a protective notification is made provides a Revenue officer with the specified information, within the meaning of Chapter 3 of this Part, and (d) the person in whose name or on whose behalf a qualifying avoidance disclosure or a protective notification is made, without unreasonable delay, provides a Revenue officer with any other information that the officer may reasonably require for the purposes of deciding if an application should be made to the relevant court under section 817O(3)(a); ‘protective notification’ means a notification— (a) which is delivered in such form as may be prescribed by the Revenue Commissioners and to such office of the Revenue Commissioners as— (i) is specified in the prescribed form, or (ii) as may be identified, by reference to guidance in the prescribed form, as the office to which the notification concerned should be sent, (b) which contains— (i) full details of the transaction which is the subject of the protective notification, including any part of that transaction that has not been undertaken before the protective notification is delivered, (ii) full reference to the provisions of the Acts that the person, by whom, or on whose behalf, the protective notification is delivered, considers to be relevant to the treatment of the transaction for tax purposes, (iii) full details of how, in the opinion of the person, by whom, or on whose behalf, the protective notification is delivered, each provision referred to in the protective notification in accordance with subparagraph (ii), applies, or does not apply, to the transaction, and
\n(iv) full details of why, in the opinion of the person, by whom, or on whose behalf, the protective notification is delivered, section 811C does not apply, (c) which includes copies of all documentation pertaining to the transaction which is the subject of the protective notification, (d) which is received by the Revenue Commissioners on or before the relevant date, and (e) which does not relate to a disclosable transaction, and subsection (2) supplements this definition; ‘qualifying avoidance disclosure’ means a disclosure that a Revenue officer is satisfied is a disclosure of complete information in relation to, and full particulars of, all matters occasioning a liability to tax that gives rise to a surcharge referred to in subsection (3), made in writing to the Revenue officer and signed by or on behalf of that person and which is accompanied by— (a) a declaration, to the best of that person’s knowledge, information and belief, made in writing, that all matters contained in the disclosure are correct and complete, and (b) a payment of any tax due and payable in respect of any matter contained in the disclosure and the interest payable on the late payment of that tax; ‘relevant date’ in relation to a transaction means the date which is 90 days after the date on which that transaction was commenced; ‘specific anti-avoidance provision’ means a provision specified in Schedule 33.
\nand, if the case does not fall within any of subparagraphs (i) to (iv), then the surcharge referred to in subsection (3) shall be 30 per cent.
\nSection 381B Section 381C Section 546A
\nSection 807A Section 811B
\nSection 817A Section 817B Section 817C ”.
\nAmendment of Chapter 3 of Part 33 (mandatory disclosure and payment notices) 88. (1) Chapter 3 of Part 33 of the Principal Act is amended— (a) in section 817D(1) by— (i) inserting the following definitions after the definition of “disclosable transaction”: “‘emoluments’ means emoluments to which Chapter 4 of Part 42 applies; ‘employee’ means any person in receipt of emoluments; ‘employer’ means any person paying emoluments;”, (ii) inserting the following definition after the definition of “promoter”: “‘quarter’ means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December;”, (iii) inserting the following definitions after the definition of “relevant date”: “‘return’ means any return, claim, application, notification, election, declaration, nomination, statement, list, registration, particulars or other information, which a person is or may be required by the Acts to give to the Revenue Commissioners or any Revenue officer; ‘Revenue officer’ means an officer of the Revenue Commissioners; ‘specified date’ means— (a) in relation to a promoter, the relevant date, and (b) in relation to a person other than a promoter, the date the person first enters into any transaction which is or forms part of a disclosable transaction;”, (iv) in the definition of “specified description”, by substituting “section 817DA” for “subsection (2) ”, (v) in the definition of “specified information”, by substituting “, in respect of a disclosable transaction, the information set out in subsection (2)(a) and subparagraphs (i) to (iii), as the case may be, of subsection (2)(b) ” for “any information specified in regulations made under section 817Q”, (vi) deleting the definition of “specified period”, (vii) inserting the following definition after the definition of “transaction”: “‘transaction number’ means the number assigned to a transaction by the Revenue Commissioners under section 817HB;”, and (viii) substituting the following subsection for subsection (2): “(2) For the purposes of the definition of ‘specified information’ in the preceding subsection, the following provisions specify the information concerned: (a) such information as might reasonably be expected to enable the manner in which the disclosable transaction operates, or is intended to operate, to be fully understood by a Revenue officer, and, in all cases, includes— (i) full reference to the provisions of this Chapter by virtue of which the person by whom, or on whose behalf, the information is being provided considers that the transaction is disclosable,
\n(ii) a summary of the disclosable transaction and the name (if any) by which it is known, (iii) full reference to the provisions of the Acts that are considered by the person to be relevant to the treatment of the disclosable transaction for tax purposes, and (iv) full details of the disclosable transaction explaining each element of the transaction (including the way in which the transaction is structured) from which the tax advantage expected to be obtained under the transaction arises and how, in the opinion of the person by whom, or on whose behalf, the information is being provided, each provision of the Acts referred to in subparagraph (iii) applies, or as the case may be, does not apply to the transaction, (b) where— (i) the information is required to be disclosed by a promoter under section 817E, the following information, namely, the name, address, telephone number and tax reference number of the promoter, (ii) the information is required to be disclosed by a person under section 817F, 817H(1) or 817L, the following information, namely— (I) the name, address, telephone number and tax reference number of the person, and (II) the name, address and telephone number of the promoter, or (iii) the information is required to be disclosed by a person under section 817G, the following information, namely, the name, address, telephone number and tax reference number of the person;”, (b) by inserting the following after section 817D: “References to ‘specified description’ — classes of transaction for purposes of that expression