Finance (No. 2) Act, 1966

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FINANCE (No. 2) ACT, 1966 ARRANGEMENT OF SECTIONS Section

Section 1

Interpretation.

Section 2

Charge of wholesale tax.

Section 3

Persons accountable.

Section 4

Registration.

Section 5

Moneys received from registered persons.

Section 6

Certain appropriations to be treated as sales.

Section 7

Rate of wholesale tax.

Section 8

Special provisions as to certain sales.

Section 9

Additions to certain payments.

Section 10

Applications and amendments.

Section 11

Charge of wholesale tax on imported goods.

Section 12

Care and management of wholesale tax.

Section 13

Short title and construction.

Acts Referred to Finance Act, 1963 1963, No. 23 Customs Consolidation Act, 1876 1876, c. 30 Finance Act, 1952 1952, No. 14 Number 22 of 1966.

FINANCE (No. 2) ACT, 1966 AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF INLAND REVENUE, TO AMEND THE LAW RELATING TO INLAND REVENUE AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [13th July, 1966.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Interpretation.

1.—(1) In this Act, save where the context otherwise requires— “manufacturer” means a person who carries on in the State a business of making goods or generating electricity or of applying any process in the course of the making of goods or the generation of electricity; “materials” means, in relation to a manufacturer, goods to which some process is applied by him by way of business in the course of the making of goods, or which are used by him as aforesaid as parts of or accessories for the goods made, or are used directly in the production process but do not become ingredients of the goods; “regulations” means regulations under section 52 of the Finance Act, 1963; “selling by retail” means selling goods by way of business otherwise than by wholesale; “selling by wholesale” means selling goods of any class to a person who sells goods of that class in the course of business; “taxable goods” means goods the sale of which is not an exempted activity within the meaning of section 3 (5); “wholesale tax” has the meaning specified in section 2; reference to persons accountable and accountability in relation to wholesale tax shall be construed by reference to section 3.

Charge of wholesale tax.

2.—With effect on and from the 1st day of October, 1966, a tax (in this Act referred to as wholesale tax) shall, subject to this Act and regulations, be charged, levied and paid— (a) on moneys received in respect of the sale of goods sold in the course of business (including goods sold before the 1st day of October, 1966), and (b) on goods imported into the State.

Persons accountable.

3.—(1) The person accountable for and liable to pay wholesale tax shall be the seller of goods, provided that the following persons shall not, save as otherwise provided by this Act, be accountable— (a) sellers who are not engaged in selling by wholesale taxable goods or whose monthly receipts from selling by wholesale taxable goods have not in any month exceeded, and are not likely in any month to exceed £500, but excepting any such seller who is— (i) a manufacturer, or (ii) a person who makes, for the purpose of a business of selling by retail carried on by him, purchases of taxable goods which in value and character are such as in the ordinary course of trade are made by wholesale merchants, and (b) manufacturers whose monthly receipts from selling taxable goods have not in any month exceeded, and are not likely in any month to exceed, £150.

Registration.

4.—(1) The Revenue Commissioners shall set up and maintain a register of persons who may become or who are accountable for wholesale tax and shall allot to every person so registered a registration number in addition to any such number allotted to that person under section 49 of the Finance Act, 1963 , and shall cancel such number if the person does not become or ceases to be accountable for wholesale tax.

Moneys received from registered persons.

5.—Wholesale tax shall not be charged on moneys received from a person registered as aforesaid for or in respect of goods sold to him.

Certain appropriations to be treated as sales.

6.—Where a person who in accordance with section 5 of this Act has purchased taxable goods in circumstances in which wholesale tax is not chargeable, or who in accordance with section 11 of this Act has imported taxable goods in circumstances in which wholesale tax is not chargeable, applies or appropriates any of those goods or any taxable goods made by him or which are the result of a process applied by him, otherwise than— (a) in the case of a manufacturer—as materials or as stock in trade, or (b) in any other case—as stock in trade, he shall, for the purposes of this Act, be deemed thereby to have received payment in respect of a sale of the goods so applied or appropriated at the wholesale price current at the time of the application or appropriation.

Rate of wholesale tax.

7.—(1) Wholesale tax shall be five per cent. of the taxable turnover, as defined by this section, of the accountable person and the amount of tax chargeable during every month shall be paid after the expiration of the month in accordance with regulations.

Special provisions as to certain sales.

8.—Where it appears to the Revenue Commissioners that the moneys received by an accountable person in respect of the sale of any taxable goods are less than the moneys which would be received if the goods were sold in the open market, they may estimate what the taxable turnover would be if the goods were sold in the open market and the amount so estimated shall, subject to section 24 of the Finance Act, 1966, be the taxable turnover for the purposes of section 7 of this Act.

Additions to certain payments.

9.—Where the whole or part of the taxable turnover of an accountable person consists of moneys paid under a contract entered into before the 1st day of October, 1966, the accountable person may, in the absence of agreement to the contrary, recover as an addition to the payments specified in the contract a sum equal to any amount payable by him in respect of the moneys on account of wholesale tax.

Applications and amendments.

10.—(1) (a) The provisions (including penalty provisions) of— (i)

Part VI

of the Finance Act, 1963 (other than the excepted sections), Part VI of the Finance Act, 1965, and Part VI of the Finance Act, 1966, and (ii) regulations made before the passing of this Act, shall, save where the context otherwise requires, apply to the wholesale tax as if that tax were turnover tax charged by virtue of

Part VI

of the Finance Act, 1963 . (b) In the foregoing paragraph “the excepted sections” means sections 47 , 48 , 49 , 50 , 51 , 53 and 64 of the Finance Act, 1963 .

(2)

Section 52

of the Finance Act, 1963 , is hereby amended by the insertion at the end of subsection (1) of the following paragraphs: “(o) the particulars to be furnished by a manufacturer who is not an accountable person in relation to wholesale tax in support of his application to be treated as such an accountable person and the conditions on which he may be so treated, (p) procedures for granting relief from wholesale tax in respect of taxable goods sold at current retail prices, (q) procedures in relation to wholesale tax whereby— (i) a purchaser shall notify the seller that he is and continues to be a registered person, and (ii) a seller shall verify that a purchaser is a registered person at the time of the sale.”

Charge of wholesale tax on imported goods.

11.—(1) Sections 3 to 10 of this Act shall not apply to wholesale tax provided for by section 2 (b) of this Act and that tax shall, subject to subsection (2) of this section, be charged on every article imported on or after the 1st day of October, 1966, at the rate of five per cent. of the value of the article.

Care and management of wholesale tax.

12.—Wholesale tax is hereby placed under the care and management of the Revenue Commissioners.

Short title and construction.

13.—(1) This Act may be cited as the Finance (No. 2) Act, 1966.

Part VI

of the Finance Act, 1963 , Part VI of the Finance Act, 1965, and Part VI of the Finance Act, 1966.

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