Income Tax Act , 1967

(c) where the said securities are of such character that the interest payable in respect thereof may be paid without deduction of tax, the owner or beneficiary (as the case may be) shall be chargeable to tax under Case IV of Schedule D in respect of any interest payable in respect of the said securities which is deemed by virtue of this section to be his income, unless he shows either that such interest has borne tax or that the proceeds of a sale, transfer, or other realisation of the right to receive such interest have been charged to tax under Schedule C or under Part XXXI;

(d) where, in any case to which paragraph (c) applies, the computation of the tax in respect of the interest which is by that paragraph made chargeable under Case IV of Schedule D would, if that interest had been chargeable under Case III of Schedule D, have been made by reference to the amount received in the State, the said tax chargeable pursuant to the said paragraph (c) shall be computed on the full amount of the sums received in the State in the said year of assessment or in any subsequent year of assessment in which the owner remains the owner of the said securities;

(e) nothing in this subsection shall affect any provision of this Act authorising or requiring the deduction of tax from any interest which is deemed by virtue of this subsection to be income of the owner or of the beneficiary or from the proceeds of any such subsequent sale, transfer, or other realisation as is hereinbefore mentioned of the right to receive the said particular interest.

(2) The Revenue Commissioners may by notice in writing require any person to furnish them, within such time (not being less than twenty-eight days from the service of such notice) as shall be specified in such notice, with such particulars in relation to all securities of which such person was the owner at any time during the period specified in such notice as the Revenue Commissioners may consider to be necessary for the purposes of this section or for the purpose of discovering whether tax has been borne in respect of the interest payable in respect of the said securities or whether the proceeds of any sale, transfer, or other realisation of the right to receive the interest in respect of the said securities has been charged to tax under Schedule C or under Part XXXI.

(3) In this section—

“interest” includes dividends, annuities, and shares of annuities;

“securities” include stocks and shares of all descriptions.

PART XXIX Income Tax in Relation to Administration of Estates

450 Interpretation.

450.—(1) For the purposes of this Part—

(a) a person shall be deemed to have an absolute interest in the residue of the estate of a deceased person, or in a part thereof, if and so long as the capital of the residue or of that part thereof (as the case may be) would, if the residue had been ascertained, be properly payable to him, or to another in his right, for his benefit, or is properly so payable, whether directly by the personal representatives or indirectly through a trustee or other person;

(b) a person shall be deemed to have a limited interest in the residue of the estate of a deceased person, or in a part thereof, during any period (other than a period during which he has an absolute interest in the residue or in that part thereof, as the case may be) where the income of the residue or of that part thereof (as the case may be) for that period would, if the residue had been ascertained at the commencement of that period, be properly payable to him, or to another in his right, for his benefit, whether directly or indirectly as aforesaid;

(c) real estate included (either by a specific or a general description) in a residuary gift made by the will of a testator shall be deemed to be a part of the residue of his estate and not to be the subject of a specific disposition.

(2) In this Part—

(a) “personal representatives” means, in relation to the estate of a deceased person, his executors as defined by section 22 (1) (d) of the Finance Act, 1894, and includes persons having in relation to the deceased under the law of another country any functions corresponding to the functions for administration purposes under the law of the State of executors as so defined, and references to personal representatives as such shall be construed as references to the executors in their capacity as having such functions as aforesaid;

(b) “specific disposition” means a specific devise or bequest made by a testator, and includes any disposition having, whether by virtue of any enactment or otherwise, under the law of the State or of another country an effect similar to that of a specific devise or bequest under the law of the State;

(c) “charges on residue” means, in relation to the estate of a deceased person, the following liabilities properly payable thereout and interest payable in respect of those liabilities, that is to say,—

(i) funeral, testamentary, and administration expenses and debts,

(ii) general legacies (including in the case of an intestacy the sum of £500 to which a widow is entitled under the Intestates' Estates Act, 1890, or the sum of £4,000 to which a widow is entitled under the Intestates' Estates Act, 1954), demonstrative legacies, and annuities, and

(iii) any other liabilities of his personal representatives as such,

but, in the case of any such liabilities which, as between persons interested under a specific disposition or in such a legacy as aforesaid or in an annuity and persons interested in the residue of the estate, fall exclusively or primarily upon the property that is the subject of the specific disposition or upon the legacy or annuity, includes only such part (if any) of those liabilities as fall ultimately upon the residue;

(d) references to the “aggregate income of the estate” of a deceased person for any year of assessment shall be construed as references to the aggregate income from all sources for that year of the personal representatives of the deceased as such, treated as consisting of—

(i) any such income which is chargeable to Irish income tax by deduction or otherwise, such income being computed at the amount on which that tax falls to be borne for that year, and

(ii) any such income which would have been so chargeable if it had arisen in the State to a person resident and ordinarily resident therein, such income being computed at the full amount thereof actually arising during that year, less such deductions as would have been allowable if it had been charged to Irish income tax, but excluding any income from property devolving on the personal representatives otherwise than as assets for payment of the debts of the deceased;

(e) “Irish estate” and “foreign estate” mean respectively, as regards any year of assessment—

(i) an estate the income whereof comprises only income which either has borne Irish income tax by deduction or in respect of which the personal representatives are directly assessable to Irish income tax, other than an estate any part of the income of which is income in respect of which the personal representatives are entitled to claim exemption from Irish income tax by reference to the fact that they are not resident or not ordinarily resident in the State, and

(ii) an estate other than an Irish estate;

(f) references to sums paid include references to assets that are transferred or that are appropriated by a personal representative to himself, and to debts that are set off or released;

(g) references to sums payable include references to assets as to which an obligation to transfer or a right of a personal representative to appropriate to himself is subsisting on the completion of the administration and to debts as to which an obligation to release is set off, or a right of a personal representative so to do in his own favour, is then subsisting;

(h) references to amount in relation to such assets as aforesaid shall be construed as references to the value thereof at the date on which they were transferred or appropriated, or at the completion of the administration, as the case may require, and, in relation to such debts, as references to the amount thereof.

(3) In a case in which different parts of the estate of a deceased person are the subjects respectively of different residuary dispositions, this Part shall have effect in relation to each of those parts, with the substitution for references to the estate of references to that part of the estate, and the substitution for references to the personal representatives of the deceased as such of references to the said personal representatives in their capacity as having the functions referred to in subsection (2) (a) in relation to that part of the estate.

451 Limited interests in residue.

451.—(1) The following provisions of this section shall have effect in relation to a person who, during the period commencing on the death of a deceased person and ending on the completion of the administration of the estate of such deceased person (in this Part referred to as “the administration period”) or during a part of that period, has a limited interest in the residue of the said estate or in a part thereof.

(2) When any sum has been paid during the administration period in respect of that limited interest the amount thereof shall, subject to the provisions of subsection (3), be deemed for all the purposes of this Act to have been paid to that person as income for the year of assessment in which that sum was paid, or, in the case of a sum paid in respect of an interest that has ceased, for the last year of assessment in which it was subsisting.

(3) On the completion of the administration of the estate—

(a) the aggregate amount of all sums paid before, or payable on, the completion of the administration in respect of that limited interest shall be deemed to have accrued due to that person from day to day during the administration period or the part thereof during which he had that interest (as the case may be) and to have been paid to him as it accrued due;

(b) the amount deemed to have been paid to that person by virtue of paragraph (a) in any year of assessment shall be deemed for all the purposes of this Act to have been paid to him as income for that year; and

(c) where the amount which is deemed to have been paid to that person as income for any year by virtue of this subsection is less or greater than the amount deemed to have been paid to him as income for that year by virtue of subsection (2), such adjustments shall be made as are hereafter provided in this Part.

(4) Any amount which is deemed to have been paid to that person as income for any year by virtue of this section shall—

(a) in the case of an Irish estate be deemed to be income of such an amount as would after deduction of income tax at the standard rate of tax for that year be equal to the amount deemed to have been so paid, and to be income that has borne income tax at the standard rate of tax;

(b) in the case of a foreign estate, be deemed to be income of the amount deemed to have been so paid, and shall be chargeable to income tax under Case III of Schedule D as if it were income arising from securities in a place outside the State.

(5) Where a person has been charged to income tax for any year by virtue of this section in respect of an amount deemed to have been paid to him as income in respect of an interest in a foreign estate and any part of the aggregate income of that estate for that year has borne Irish income tax by deduction or otherwise, the income in respect of which he has been so charged to tax shall, on proof of the facts to the satisfaction of the Special Commissioners, be reduced by an amount bearing the same proportion thereto as the amount of the said income which has borne Irish income tax bears to the amount of the said aggregate income:

Provided that where relief has been so given, such part of the amount in respect of which he has been charged to income tax as corresponds to the said proportion shall, for the purposes of sur-tax, be deemed to represent income of such an amount as would after deduction of income tax at the standard rate of tax be equal to that part of the amount charged.

452 Absolute interests in residue.

452.—(1) The following provisions of this section shall have effect in relation to a person who, during the administration period or during a part of that period, has an absolute interest in the residue of the estate of a deceased person or in a part thereof.

(2) There shall be ascertained in accordance with section 453 the amount of the residuary income of the estate for each whole year of assessment, and for each broken part of a year of assessment, during which—

(a) the administration period was current, and

(b) that person had that interest,

and the amount so ascertained in respect of any year or part of a year or, in the case of a person having an absolute interest in a part of a residue, a proportionate part of that amount, is in this Part referred to as the “residuary income” of that person for that year of assessment.

(3) When any sum or sums has or have been paid during the administration period in respect of that absolute interest, the amount of that sum or the aggregate amount of those sums shall, subject to the provisions of subsection (4), be deemed for all the purposes of this Act to have been paid to that person as income to the extent to which, and for the year or years of assessment for which, he would have been treated for those purposes as having received income if he had had a right to receive in each year of assessment—

(a) in the case of an Irish estate, his residuary income for that year less income tax for that year, at the standard rate of tax, or

(b) in the case of a foreign estate, his residuary income for that year,

and that sum or the aggregate of those sums had been available for application primarily in or towards satisfaction of those rights as they accrued and had been so applied.

In the case of an Irish estate, any amount which is deemed to have been paid to that person as income for any year by virtue of this subsection shall be deemed to be income of such an amount as would after deduction of income tax at the standard rate of tax for that year be equal to the amount deemed to have been so paid, and to be income which has borne income tax at the standard rate of tax.

(4) On the completion of the administration of the estate—

(a) the amount of the residuary income of that person for any year of assessment shall be deemed for all the purposes of this Act to have been paid to him as income for that year, and in the case of an Irish estate shall be deemed to have borne tax by reference to the standard rate of tax; and

(b) where the amount which is deemed to have been paid to that person as income for any year by virtue of this subsection is less or greater than the amount deemed to have been paid to him as income for that year by virtue of subsection (3), such adjustments shall be made as are hereafter provided in this Part.

(5) In the case of a foreign estate, any amount which is deemed to have been paid to that person as income for any year by virtue of this section shall be deemed to be income of that amount, and shall be chargeable to income tax under Case III of Schedule D as if it were income arising from securities in a place outside the State.

(6) Where a person has been charged to income tax by virtue of this section in the circumstances mentioned in section 451 (5), the provisions of section 451 (5) shall have effect as they have effect where a person has been charged to income tax by virtue of that section in those circumstances.

453 Supplementary provisions as to absolute interests in residue.

453.—(1) The amount of the residuary income of an estate for any year of assessment shall be ascertained by deducting from the aggregate income of the estate for that year—

(a) the amount of any annual interest, annuity, or other annual payment for that year which is a charge on residue and the amount of any payment made in that year in respect of any such expenses incurred by the personal representatives as such in the management of the assets of the estate as, in the absence of any express provision in a will, would be properly chargeable to income, but excluding any such interest, annuity, or payment allowed or allowable in computing the aggregate income of the estate; and

(b) the amount of any of the aggregate income of the estate for that year to which a person has on or after assent become entitled by virtue of a specific disposition either for a vested interest during the administration period or for a vested or contingent interest on the completion of the administration.

(2) In the event of its appearing, on the completion of the administration of an estate in the residue of which, or in a part of the residue of which, a person had an absolute interest at the completion of the administration, that the aggregate of the benefits received in respect of that interest does not amount to as much as the aggregate for all years of the residuary income of the person having that interest, his residuary income for each year shall be reduced for the purpose of section 452 by an amount bearing the same proportion thereto as the deficiency bears to the aggregate for all years of his residuary income.

In this subsection “benefits received” in respect of an absolute interest means the following amounts in respect of all sums paid before, or payable on, the completion of the administration in respect of that interest, that is to say—

(a) as regards a sum paid before the completion of the administration, in the case of an Irish estate such an amount as would, after deduction of income tax at the standard rate of tax for the year of assessment in which that sum was paid, be equal to that sum or, in the case of a foreign estate, the amount of that sum, and

(b) as regards a sum payable on the completion of the administration, in the case of an Irish estate such an amount as would, after deduction of income tax at the standard rate of tax for the year of assessment in which the administration is completed, be equal to that sum or, in the case of a foreign estate, the amount of that sum.

(3) In the application of subsection (2) to a residue or a part of a residue in which a person other than the person having an absolute interest at the completion of the administration had an absolute interest at any time during the administration period, the aggregates therein mentioned shall be computed in relation to those interests taken together, and the residuary income of that other person also shall be subject to reduction thereunder.

454 Special provisions as to certain interests in residue.

454.—(1) Where the personal representatives of a deceased person have as such a right in relation to the estate of another deceased person such that, if that right were vested in them for their own benefit, they would have an absolute or a limited interest in the residue of that estate or in a part thereof, they shall be deemed to have that interest notwithstanding that that right is not vested in them for their own benefit, and any amount deemed to be paid to them as income by virtue of this Part shall be treated as part of the aggregate income of the estate of the person whose personal representatives they are.

(2) Where different persons have successively during the administration period absolute interests in the residue of the estate of a deceased person or in a part thereof, sums paid during that period in respect of the residue or of that part thereof, as the case may be, shall be treated for the purpose of this Part as having been paid in respect of the interest of the person who first had an absolute interest therein up to the amount of—

(a) in the case of an Irish estate, the aggregate for all years of that person's residuary income less income tax at the standard rate of tax, or

(b) in the case of a foreign estate, the aggregate for all years of that person's residuary income, and, as to any balance up to a corresponding amount, in respect of the interest of the person who next had an absolute interest therein, and so on.

(3) Where upon the exercise of a discretion any of the income of the residue of the estate of a deceased person for any period (being the administration period or a part thereof) would, if the residue had been ascertained at the commencement of that period, be properly payable to any person, or to another in his right, for his benefit, whether directly by the personal representatives or indirectly through a trustee or other person, the amount of any sum paid pursuant to an exercise of the discretion in favour of that person shall be deemed for all the purposes of this Act to have been paid to that person as income for the year of assessment in which it was paid, and the provisions of section 451 (4) (5) shall have effect in relation to an amount which is deemed to have been paid as income by virtue of this subsection.

455 Adjustments and furnishing of information.

455.—(1) Where, on the completion of the administration of an estate, any amount is deemed by virtue of this Part to have been paid to any person as income for any year of assessment and either—

(a) that amount is greater than the amount that has previously been deemed to have been paid to him as income for that year by virtue of this Part, or

(b) no amount has previously been so deemed to have been paid to him as income for that year,

an assessment or additional assessment may be made upon him for that year and tax charged accordingly or, on a claim being made for the purpose, any relief or additional relief to which he may be entitled shall be allowed accordingly.

(2) Where, on the completion of the administration of an estate, any amount is deemed by virtue of this Part to have been paid to any person as income for any year of assessment, and that amount is less than the amount that has previously been so deemed to have been paid to him, then—

(a) if an assessment has already been made upon him for that year, such adjustments shall be made in that assessment as may be necessary for the purpose of giving effect to the provisions of this Part which take effect on the completion of the administration, and any tax overpaid shall be repaid, and

(b) if—

(i) any relief has been allowed to him by reference to the amount which has been previously deemed as aforesaid to have been paid to him as income for that year, and

(ii) the amount of that relief exceeds the amount of relief which could have been given by reference to the amount which, on the completion of the administration, is deemed to have been paid to him as income for that year,

the relief so given in excess may, if not otherwise made good, be charged under Case IV of Schedule D and recovered from that person accordingly.

(3) Notwithstanding anything contained in this Act, the time within which an assessment or additional assessment may be made for the purposes of this Part, or an assessment may be adjusted for those purposes, or a claim for relief may be made by virtue of this Part, shall not expire before the end of the third year following the year of assessment in which the administration of the estate in question was completed.

(4) The Revenue Commissioners may by notice in writing require any person being or having been a personal representative of a deceased person, or having or having had an absolute or a limited interest in the residue of the estate of a deceased person or in a part thereof, to furnish them (within such time as they may direct, not being less than twenty-eight days) with such particulars as they think necessary for the purposes of this Part.

PART XXX Irish Dividends, etc.

Chapter I General Provisions as to Dividends

456 Deductions of tax from dividends.

456.—The profits or gains to be charged on any body of persons shall be computed in accordance with the provisions of this Act on the full amount of the same before any dividend thereof is made in respect of any share, right or title thereto, and the body of persons paying such dividend shall be entitled to deduct the tax appropriate thereto.

457 Amount of dividend from which deduction is to be made.

457.—(1) The provisions of section 456 shall, in relation to any dividend paid by any body of persons, be construed as authorising the deduction of tax from the full amount paid out of profits and gains of the said body which—

(a) have been charged to tax, or

(b) would fall, under the provisions of this Act, to be included in computing the liability of the said body to assessment to tax for any year if the said provisions required the computation to be made by reference to the profits and gains of that year and not by reference to those of any other year or period.

(2) For all the purposes of this Act the amount of any dividend paid by any body of persons from which a deduction of tax is authorised by section 456 as amended by the provisions contained in subsection (1), shall be deemed to be income of such amount as would, after such deduction of tax as is so authorised, be equal—

(a) if tax is deducted from such dividend, to the net amount received, and

(b) in every other case, to the amount received.

(3) Section 458 shall have effect in relation to dividends with due regard to the provisions contained in subsection (2).

Chapter II Explanation of Income Tax Deducted to be Annexed to Dividend and Interest Warrants

458 Annexation of statement to warrants.

458.—(1) Every warrant, cheque, or other order sent or delivered for the purpose of paying any interest or dividend distributed by a company which is entitled to deduct income tax from such interest or dividend shall have annexed thereto or be accompanied by a statement in writing showing—

(a) the gross amount which, after deduction of the income tax appropriate thereto, corresponds to the net amount actually paid, and

(b) the rate and amount of income tax appropriate to such gross amount, and

(c) the net amount actually paid.

(2) If a company fails to comply with any of the provisions of this section the company shall incur a penalty of £10 in respect of each offence but the aggregate amount of the penalties imposed under this section on any company in respect of offences connected with any one payment or distribution of interest or dividends shall not exceed £100.

(3) In this section the word “company” means a company within the meaning of the Companies Act, 1963, and a company created by letters patent or by or in pursuance of any statute.

PART XXXI Foreign Dividends, etc.

459 Definitions.

459.—(1) In this Part, “dividends to which this Part applies” means any interest, dividends, or other annual payments payable out of or in respect of the stocks, funds, shares, or securities of any body of persons not resident in the State and references to dividends shall be construed accordingly:

Provided that this subsection shall not extend to any payment to which section 433 or 434 applies.

(2) In this Part “banker” includes a person acting as a banker, and references to coupons in relation to any dividends include warrants for or bills of exchange purporting to be drawn or made in payment of those dividends.

460 Dividends entrusted for payment in State.

460.—Where dividends to which this Part applies are entrusted to any person in the State for payment to any persons in the State—

(a) the dividends shall be assessed and charged to tax under Schedule D by the Special Commissioners; and

(b) the provisions of Parts IV, V and VI of Schedule 1 shall extend to the tax to be assessed and charged under this section.

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

461.—Where—

(a) a banker or any other person in the State, by means of coupons received from another person or otherwise on his behalf, obtains payment of any dividends to which this Part applies elsewhere than in the State; or

(b) a banker in the State sells or otherwise realises coupons for any dividends to which this Part applies and pays over the proceeds of such realisation to or carries such proceeds to the account of any person; or

(c) a dealer in coupons in the State purchases coupons for any dividends to which this Part applies otherwise than from a banker or another dealer in coupons,

the tax under Schedule D shall extend, in the case mentioned in paragraph (a), to the dividends, in the case mentioned in paragraph (b), to the proceeds of the realisation and, in the case mentioned in paragraph (c), to the price paid on such purchase and Parts IV, V and VI of Schedule 1 shall have effect in relation to the assessment, charge and payment of the tax.

462 Exemption of dividends of non-residents.

462.—(1) No tax shall be chargeable in respect of dividends to which this Part applies which are payable in the State where it is proved to the satisfaction of the Revenue Commissioners that the person owning the stocks, funds, shares or securities and entitled to the income arising therefrom, is not resident in the State but, save as provided by this Act, no allowance shall be given or repayment be made in respect of the tax on dividends to which this Part applies which are payable in the State:

Provided that where the dividends are from stocks, funds, shares or securities which are held under any trust, and the person who is the beneficiary in possession under the trust is the sole beneficiary in possession and can, by means either of the revocation of the trust or of the exercise of any powers under the trust, call upon the trustees at any time to transfer the stocks, funds, shares or securities to him absolutely free from any trust, that person shall, for the purposes of this section, be deemed to be the person owning the stocks, funds, shares or securities.

(2) Relief under this section may be given by the Revenue Commissioners either by way of allowance or repayment, on a claim being made to them for that purpose.

(3) Any person who is aggrieved by the decision of the Revenue Commissioners on any question as to residence arising under this section may, by notice in writing to that effect given to the Revenue Commissioners within two months from the date on which notice of the decision is given to him, make an application to have his claim for relief heard and determined by the Special Commissioners.

(4) Where an application is made under subsection (3), the Special Commissioners shall hear and determine the claim in like manner as an appeal made to them against an assessment and all the provisions of this Act relating to such an appeal (including the provisions relating to the rehearing of an appeal and to the statement of a case for the opinion of the High Court on a point of law) shall apply accordingly with any necessary modifications.

PART XXXII Government and Other Public Loans

463 Exemption of interest on savings certificates.

463.—The accumulated interest payable in respect of any savings certificate issued by the Minister for Finance under which the purchaser, by virtue of an immediate payment of a specified sum, becomes entitled after a specified period to receive a larger sum consisting of the said sum originally paid and accumulated interest thereon, shall not be liable to tax so long as the amount of such certificates held by the person who is for the time being the holder of the certificate does not exceed the amount which that person is for the time being authorised to hold under regulations made by the Minister for Finance.

464 Issue of securities with exemption from tax.

464.—Any security which the Minister for Finance has power to issue for the purpose of raising any money or loan, may be issued with a condition that neither the capital of nor the interest on such security shall be liable to tax so long as it is shown in the manner to be prescribed by the Minister for Finance that such security is in the beneficial ownership of a person or persons who is or are not ordinarily resident in the State, and every security issued (whether before or after the passing of this Act) with such condition shall be exempt from tax accordingly.

465 Exemption of non-interest-bearing securities.

465.—The excess of the amount received on the redemption of a unit of non-interest-bearing securities issued by the Minister for Finance under section 4 of the Central Fund Act, 1965, over the amount which was paid for the unit on its issue shall, save where the excess falls to be taken into account in computing for the purposes of taxation the profits of a trade, be exempt from income tax (including sur-tax).

466 Payment of interest on Government securities without deduction of tax.

466.—(1) The Minister for Finance may direct that any securities already issued or hereafter to be issued under his authority shall be deemed to have been, or shall be, issued subject to the condition that the interest thereon shall be paid without deduction of tax.

(2) The interest on all securities issued, or deemed to have been issued, subject to the condition aforesaid shall be paid without deduction of tax, but all such interest shall be chargeable under Case III of Schedule D and, where any funds under the control of any court or public department are invested in any such securities, the person in whose name the securities are invested shall be the person so chargeable in respect of the interest thereon.

(3) Where interest on any security is paid under this section without deduction of tax, every person by whom such interest is paid, and every person who receives such interest on behalf of a registered or inscribed holder of the security, and also every person who has acted as an intermediary in the purchase of the security, shall, on being so required by the Revenue Commissioners, furnish to them—

(a) the name and address of the person to whom such interest has been paid, or on whose behalf such interest has been received, and the amount of the interest so paid or received, or (as the case may require)

(b) the person on whose behalf such security was purchased and the amount of such security.

467 Securities of Aer Lingus Teo., Aer Rianta Teo. and Aerlínte Éireann Teo.

467.—(1) Any debentures, debenture stock or other forms of security issued after the 2nd day of July, 1964, by a company to which this section applies shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly.

(2) Notwithstanding anything contained in this Act, in computing for the purposes of assessment under Case I of Schedule D the amount of the profits or gains of a company to which this section applies, for any period for which accounts are made up, there shall be allowed as a deduction the amount of the interest on debentures, debenture stock or other forms of security which, by direction of the Minister for Finance given under section 466 as applied by this section, is paid by the company without deduction of tax for such period.

(3) The companies to which this section applies are Aer Lingus, Teoranta, Aer Rianta, Teoranta, and Aerlínte Éireann, Teoranta.

468 Securities of Agricultural Credit Corporation, Ltd.

468.—(1) Debentures, debenture stock, certificates of charge and other securities issued by The Agricultural Credit Corporation, Limited, shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly.

(2) Notwithstanding anything contained in section 61 (l), 433, 434 or 456, in computing for the purposes of assessment under Schedule D the amount of the profits or gains of The Agricultural Credit Corporation, Limited, for any period for which accounts are made up there shall be allowed as a deduction the amount of the interest on debentures, debenture stock, certificates of charge and other securities which, by direction of the Minister for Finance given under section 466, as applied by this section, is paid without deduction of tax for such period.

(3) Debentures, debenture stock and certificates of charge issued by The Agricultural Credit Corporation, Limited, shall not be liable to tax so long as it is shown in manner to be prescribed by the Minister for Finance that they are in the beneficial ownership of persons who are neither domiciled nor ordinarily resident in the State.

469 Conversions under Government Loans (Conversion) Act, 1951.

469.—(1) In this section—

“the Act” means the Government Loans (Conversion) Act, 1951;

“Government loan”, “new loan”, “the redemption date” and

“stockholder” have the same meanings respectively as they have in the Act.

(2) Where a holding, or part of a holding, of stock of a Government loan is converted under the Act and the stockholder is a person who is carrying on a trade which consists wholly or partly in dealing in securities, the stockholder shall, if he gives notice in writing to the inspector, not later than the end of the year of assessment next following the year of assessment in which the redemption date falls, that he desires to be so treated, be treated for the purposes of this Act as having changed his investment on the redemption date, but if he gives no such notice, he shall be for those purposes treated, both then and thereafter, as not having changed his investment, and in that case the produce of any subsequent realisation of the whole or any part of the holding of the new loan (which holding shall, for the purpose of this provision, be deemed to include any stock issued by way of bonus in respect of the conversion) together with any additional consideration, or the appropriate part of any additional consideration, received by him in connection with the conversion, shall be treated as the produce of the realisation of the whole or the appropriate part of the original holding.

470 Securities of Irish local authorities issued abroad.

470.—Securities issued (whether before or after the commencement of this Act) outside the State by a local authority in the State for the purpose of raising any money which they are authorised to borrow, if issued under the authority of the Minister for Finance, shall not be liable to tax, except where they are held by persons domiciled in the State or ordinarily resident in the State.

“Local authority” in this section includes any public body which is recognised as a local authority for the purposes of this section by the Minister for Local Government.

471 Securities of Electricity Supply Board and Córas Iompair Éireann.

471.—(1) Any stock or other forms of security issued after the 13th day of July, 1954, by the Electricity Supply Board or by Córas Iompair Éireann shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly.

(2) Notwithstanding anything contained in section 61 (l), 433, 434 or 456, in computing for the purposes of assessment under Schedule D the amount of the profits or gains of the Electricity Supply Board, or of Córas Iompair Éireann, as the case may be, for any period for which accounts are made up, there shall be allowed as a deduction the amount of the interest on stock or other forms of security which, by direction of the Minister for Finance given under section 466, as applied by this section, is paid by the Electricity Supply Board or by Córas Iompair Éireann, as the case may be, without deduction of tax for such period.

472 Stock of local authorities.

472.—(1) Any stock under section 87 of the Local Government Act, 1946, issued after the 13th day of July, 1955, shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly.

(2) (a) Sections 106, 433 and 434 shall not apply to interest (in this subsection referred to as the said interest) which, by direction of the Minister for Finance given under section 466, as applied by this section, is paid without deduction of tax.

(b) Where paragraph (a) applies in relation to a local authority, the total tax payable by the local authority, by deduction or otherwise, for any year of assessment shall not exceed a sum to be ascertained by first computing the total tax which, but for this section, would have been payable by the local authority, by deduction or otherwise, for that year and then deducting therefrom a sum equal to tax on the amount of the said interest paid for that year by the local authority.

473 Securities of Bord na Móna.

473.—(1) Any stock or other forms of security issued after the 18th day of July, 1957, by Bord na Móna shall be deemed to be securities issued under the authority of the Minister for Finance within the meaning of section 466 and that section shall apply accordingly.

(2) Notwithstanding anything contained in this Act, Bord na Móna shall be entitled to have the amount of income tax which, but for this section, it would be liable ultimately to bear for any year of assessment reduced by a sum representing income tax on the amount of the interest on stock or other forms of security which, by direction of the Minister for Finance given under section 466, as applied by this section, is paid by Bord na Móna without deduction of tax in that year of assessment.

474 Exemption of certain securities from tax.

474.—(1) This section applies to any stock or other security on which interest is payable without deduction of income tax by virtue of a direction given by the Minister for Finance in pursuance of section 467, 471, 472 or 473.

(2) Any stock or other security to which this section applies may be issued with either or both of the following conditions:

(a) that neither the capital of nor the interest on the stock or other security shall be liable to tax so long as it is shown in the manner directed by the Minister for Finance that the stock or other security is in the beneficial ownership of persons who are neither domiciled nor ordinarily resident in the State,

(b) that the interest on the stock or other security shall not be liable to income tax so long as it is shown in the manner directed by the Minister for Finance that the stock or other security is in the beneficial ownership of persons who, though domiciled in the State, are not ordinarily resident therein,

and, as respects every such stock or other security issued as aforesaid, exemption from tax shall be granted accordingly.

475 Funding bonds issued in respect of interest on certain debts.

475.—(1) Where any funding bonds are issued to a creditor in respect of any liability to pay interest on a debt to which this section applies, the issue of those bonds shall be treated for all the purposes of this Act as if it were the payment of an amount of the said interest equal to the value of the said bonds at the time of the issue thereof, and the redemption of the said bonds shall not be treated for any of the said purposes as payment of the said interest or any part thereof.

(2) This section applies to all debts owing by any government, public authority, or public institution whatsoever or wheresoever and to all debts owing by any body corporate whatsoever or wheresoever.

(3) In this section “funding bonds” includes all bonds, stocks, shares, securities, and certificates of indebtedness.

PART XXXIII Collection

476 Collection of tax in public offices.

476.—Where the tax on any salaries, fees, wages, perquisites, or other profits, or any annuities, pensions, or stipends, of any office for which commissioners are specially appointed, is deducted, the respective commissioners shall cause duplicates of assessment to be delivered to the proper officers in the departments or offices concerned, and those officers shall keep true accounts of and be answerable for all tax so deducted, and such tax shall be accounted for and paid to the Revenue Commissioners.

477 Time for payment of tax.

477.—(1) Subject to the provisions of this section, income tax contained in an assessment for any year shall be payable on or before the 1st day of January in that year, except that tax included in an assessment for any year which is made on or after the 1st day of January shall be deemed to be due and payable on the day next after the day on which the assessment is made.

(2) The following tax charged for any year, that is to say—

(a) tax charged under Schedule A in respect of income which is earned income; and

(b) tax charged under Schedule B on any individual or firm in respect of lands occupied for husbandry only; and

(c) tax charged under Schedule D on any individual or firm in respect of the profits or gains of any trade or profession; and

(d) subject to the provisions of section 126, tax charged on any individual in respect of any office or employment except individuals whose tax is deducted at definite intervals of less than half a year,

shall, instead of being payable on or before the 1st day of January in that year or on such other date as is specified in subsection (1), be payable in two equal instalments, the first on or before the 1st day of January in that year, or on such other day as aforesaid and the second on or before the following 1st day of July, and the provisions of this Act as to the recovery of tax shall apply to each instalment of the tax, in the same manner as they apply to the whole amount of the tax:

Provided that where the assessment is not made until after the said following 1st day of July, this subsection shall not have effect and the tax shall be due and payable as provided in subsection (1).

(3) Railway companies shall pay tax under Schedule D by four quarterly payments, that is to say, on or before the 20th days of June, September, December and March respectively, in each year.

478 Issue of demand notes and receipts.

478.—(1) The Collector shall, when the tax becomes due and payable, make demand of the respective sums contained in the duplicates, and given to him in charge to collect, from the persons charged therewith, or at the places of their last abode, or on the premises in respect of which the tax is charged, as the case may require.

(2) On payment of the tax the Collector shall, without charge, give a receipt under his hand, on the prescribed form.

479 Collection by means of stamps.

479.—If the Revenue Commissioners make arrangements for the collection of tax by means of stamps in any case, they may prepare and issue any stamps required for the purpose, and the provisions (including penal provisions) of the Stamp Duties Management Act, 1891, and section 65 of the Post Office Act, 1908, shall apply to any such stamps.

480 Distraint.

480.—(1) If a person neglects or refuses to pay the sum charged, upon demand made by the Collector in accordance with the assessments and warrants delivered to him, the Collector shall, for non-payment thereof, distrain upon the lands, tenements and premises in respect of which the tax is charged, or distrain the person charged by his goods and chattels, and all such other goods and chattels as the Collector is hereby authorised to distrain, without any further authority for that purpose than the warrant delivered to him on his appointment:

Provided that no distraint shall be made on the lands, tenements and premises in respect of which the tax is charged if such lands, tenements and premises have been sold for valuable consideration and the person on whom the tax is charged is no longer the occupier thereof.

(2) For the purpose of levying any such distress, the Collector may, after obtaining a warrant for that purpose, under the hands and seals of the Special Commissioners, break open, in the daytime, any house or premises, calling to his assistance any member of the Garda Síochána. Every such member shall, when so required, aid and assist the Collector in the execution of the warrant and in levying the distress in the house or premises.

(3) A levy or warrant to break open shall be executed by, or under the direction of, and in the presence of, the Collector.

(4) A distress levied by the Collector shall be kept for five days, at the costs and charges of the person neglecting or refusing to pay.

(5) If the person aforesaid does not pay the sum due, together with the costs and charges, within the said five days, the distress shall be appraised by two or more inhabitants of the parish in which the distress is taken, or by other sufficient persons, and shall be sold by public auction by the Collector or his deputy for payment of the sum due and all costs and charges. The costs and charges of taking, keeping, and selling the distress shall be retained by the Collector or his deputy, and any overplus coming by the distress, after the deduction of the costs and charges and of the sum due, shall be restored to the owner of the goods distrained.

(6) If lands charged under Schedule A are unoccupied, and no distress can be found thereon at the time the tax is payable, the Collector may at any future time when there is any distress to be found on the lands, enter, seize, and sell, under the same powers as if a distraint had been made on the lands at the time the tax became due and as if the occupier had been in occupation at that time.

481 Collection and recovery of tax under Schedules A and B.

481.—(1) Tax under Schedules A and B may be collected, recovered and levied by the Collector by distress from the person charged, or from the occupier of the property charged, or upon the premises in respect of which the assessment is made, and all goods and chattels, to whomsoever they may belong, found upon any such premises may be distrained and sold for the recovery of any such tax; or such tax, or any arrears thereof, may be collected, recovered and levied in the same manner as other tax charged under this Act may be collected, recovered and levied:

Provided that no distress may be levied on the occupier of the property charged or upon the premises in respect of which the assessment is made if such property or premises has or have been sold for valuable consideration and the tax is in respect of a period prior to the sale.

(2) Tax charged under Schedule A in respect of any property may be collected, recovered and levied by the Collector from the landlord or immediate lessor of the premises charged, whether he be named in the assessment or not.

(3) Where an assessment under Schedule A has been made on the tenant or occupier of premises charged, the landlord or immediate lessor shall only be liable to proceedings under subsection (2), in default of payment by the tenant or occupier, and for so much only of the tax charged as is chargeable in respect of the rent payable yearly to him for the premises charged.

482 Priority of tax over other debts.

482.—(1) No goods or chattels whatever, belonging to any person at the time any tax becomes in arrear, shall be liable to be taken by virtue of any execution or other process, warrant, or authority whatever, or by virtue of any assignment, on any account or pretence whatever, except at the suit of the landlord for rent, unless the person at whose suit the execution or seizure is made, or to whom the assignment was made, pays or causes to be paid to the Collector, before the sale or removal of the goods or chattels, all arrears of tax which are due at the time of seizure, or which are payable for the year in which the seizure is made.

(2) Where tax is claimed for more than one year, the person at whose instance the seizure has been made, may, on paying to the Collector the tax which is due for one whole year, proceed in his seizure in like manner as if no tax had been claimed.

(3) In case of neglect or refusal to pay the tax so claimed or the tax for one whole year, as the case may be, the Collector shall distrain the goods and chattels, notwithstanding the seizure or assignment, and shall proceed to the sale thereof, as prescribed by this Act, for the purpose of obtaining payment of the whole of the tax charged and claimed, and the reasonable costs and charges attending such distress and sale, and the Collector so doing shall be indemnified by virtue of this Act.

483 Commitment of defaulter to prison.

483.—(1) If a person neglects or refuses to pay tax charged upon him by virtue of this Act within ten clear days after demand as aforesaid, and no sufficient distress can be found whereby the same may be levied, the Special Commissioners may, by warrant under their hands and seals, commit him to prison, there to be kept without bail until payment be made of that sum or security given to their satisfaction for payment thereof, together with such further sum, as the Commissioners shall adjudge to be reasonable, for the costs and expenses of apprehending and conveying him to prison; and every such person shall be detained and kept in prison according to the tenor and effect of the warrant.

(2) By direction of the Minister for Finance or of the Revenue Commissioners, the Special Commissioners shall issue their warrant to the governor of the prison in which any defaulter is detained under their warrant, directing the liberation of the defaulter, and, on receipt thereof, the governor shall forthwith release and discharge him out of custody, if he is under detention for no other cause than as set forth in the warrant of commitment.

484 Duty of employer as to tax payable by employees.

484.—(1) Where any employed person has omitted to make payment of any income tax under Schedule D or E due and payable by him for any year, the Revenue Commissioners may give notice to his employer at any time after a period of three months has elapsed since such income tax became due and payable, requiring the employer to deduct the amount of income tax so in arrear from any remuneration payable by him to the employed person.

(2) On receipt of the notice the employer shall deduct such sums, not exceeding in the aggregate the total amount of income tax so in arrear, at such times, and in such manner, as the Revenue Commissioners may direct and shall forthwith pay over the amounts so deducted to the Accountant General of Revenue.

(3) If any employer refuses or neglects to pay over to the Accountant General of Revenue any sums within the time specified in the notice, the employer shall be liable to pay any such sum as if it had been duly assessed upon him, and proceedings for the recovery thereof may be taken in any manner prescribed by this Act, including the issue by the Special Commissioners of their warrant to the Collector, requiring him to distrain the said employer by his goods and chattels, and failure on the part of the employer to deduct any such sum from the employed person shall not be any bar to the recovery of the sum by proceedings or distraint.

(4) Where the employer is a body of persons sections 178 (3) (4) and 207 (2) (3) shall apply in relation to anything required to be done under this section.

(5) Nothing in this section shall affect Rule 5 of Schedule 2.

(6) An employer who pays over to the Accountant General or to the Collector any such sum of income tax as is required by any such notice shall be acquitted and discharged of so much money as is represented by the payment as if that sum of money had actually been paid as remuneration to the employed person.

485 Recovery by sheriff or county registrar.

485.—(1) Whenever any person makes default in paying any sum which may be levied upon him in respect of income tax, and notwithstanding (in the case of a Schedule A assessment) that the defaulter is not named in the assessment of the tax, the Collector may issue a certificate to the county registrar or sheriff of the county in which the defaulter resides or has a place of business or (when the tax in default is charged on lands or tenements) in which the lands and tenements are situate, certifying the amount of the sum so in default and the person upon whom the same is leviable and the lands and tenements (if any) on which the sum is charged.

(2) Immediately upon receipt of the certificate the county registrar or sheriff shall proceed to levy the sum therein certified to be in default by seizing all or any of the goods, animals and other chattels within his bailiwick belonging to the defaulter and (when the tax in default is charged on lands or tenements) all or any goods, animals and other chattels which may be found on such lands or tenements, and for such purposes he shall (in addition to the rights, powers and duties conferred on him by this section) have all such rights, powers and duties as are for the time being vested in him by law in relation to the execution of a writ of fieri facias so far as the same are not inconsistent with the additional rights, powers and duties conferred on him by this section.

(3) Subject to subsection (4), subsections (1) and (2) shall apply in relation to the recovery of sur-tax, whether assessed before or after the passing of this Act, as they apply in relation to the recovery of income tax.

(4) In any application of subsection (1) in relation to the recovery of sur-tax, that subsection shall have effect with the substitution of “an officer of the Revenue Commissioners, authorised by them for the purposes of this subsection,” for “the Collector”.

(5) A county registrar or sheriff executing a certificate under this section shall be entitled—

(a) if the sum certified in the certificate to be in default exceeds £600, to charge and (where appropriate) to add to that sum and (in any case) to levy under the certificate such fees and expenses, calculated according to the scales appointed by the Minister for Justice under paragraph (a) of subsection (1) of section 14 of the Enforcement of Court Orders Act, 1926, and for the time being in force, as he would be entitled so to charge or add and to levy if the certificate were an execution order within the meaning of the Enforcement of Court Orders Act, 1926, (in this section referred to as an “execution order”) of the High Court,

(b) if the sum certified in the certificate to be in default exceeds £50 but does not exceed £600, to charge and (where appropriate) to add to that sum and (in any case) to levy under the certificate such fees and expenses, calculated according to the said scales, as he would be entitled so to charge or add and to levy if the certificate were an execution order of the Circuit Court, and

(c) if the sum certified in the certificate to be in default does not exceed £50, to charge and (where appropriate) to add to that sum and (in any case) to levy under the certificate such fees and expenses, calculated according to the said scales, as he would be entitled so to charge or add and to levy if the certificate were an execution order of the District Court.

(6) Where an order which was made before the passing of this Act under section 12 of the Court Officers Act, 1945, contains a reference to levy under a certificate issued under section 7 of the Finance Act, 1923, or to levy under a certificate issued under the said section 7 as extended by section 55 of the Finance Act, 1958, the reference shall be construed as being a reference to levy under a certificate issued under this section.

486 Power of Collector and authorised officers to sue.

486.—(1) Where the amount due (whether before or after the passing of this Act) in respect of income tax or sur-tax does not exceed £600, the Collector or other officer of the Revenue Commissioners, duly authorised to collect the said tax may sue in his own name in the Circuit Court for the said amount so due as a debt due to the Minister for Finance.

(2) Where the amount so due does not exceed £50, the Collector or other officer of the Revenue Commissioners duly authorised to collect the said tax may sue in his own name in the District Court for the said amount so due as a debt due to the Minister for Finance.

(3) In any proceeding brought by the Collector or other officer under this section, the production of the Collector's duplicate of the assessment of the tax or a copy of such duplicate purporting to be certified as a true copy by an officer of the Revenue Commissioners shall be conclusive evidence of the due assessment of the tax.

(4) The costs of any such proceeding shall be subject to the law and practice applicable to the costs of a like proceeding for the recovery of an ordinary civil debt of like amount in the same Court.

487 Continuance of pending proceedings.

487.—Where, before or after the passing of this Act, the Collector duly appointed to collect any income tax has instituted under section 486 or continues under this section any proceedings brought under subsection (1) or (2) of section 486 for the recovery of such tax and, while such proceedings are pending, such Collector ceases for any reason to be the Collector so appointed to collect such tax, the right of such Collector to continue such proceedings shall forthwith terminate and the Collector duly appointed to collect such tax in succession to the Collector so ceasing shall, if he so desires, be entitled to become and be a party to such proceedings in the place of the Collector so ceasing and be entitled to continue such proceedings accordingly.

488 High Court proceedings.

488.—(1) Without prejudice to any other means by which payment of sums due in respect of income tax or sur-tax may be enforced, an officer of the Revenue Commissioners, authorised by them for the purposes of this subsection, may sue in his own name in the High Court for the recovery of any sum due in respect of any of those taxes, as a debt due to the Minister for Finance for the benefit of the Central Fund, from the person charged therewith or from his executors or administrators or from any person from whom the sum in question is collectable, whether the person so charged was so charged before or after the passing of this Act, and the proceedings may be commenced by summary summons.

(2) If an officer who has commenced proceedings pursuant to this section, or who has continued the proceedings by virtue of this subsection, dies or otherwise ceases for any reason to be an officer authorised for the purposes of subsection (1)—

(a) the right of such officer to continue the proceedings shall cease and the right to continue them shall vest in such other officer so authorised as may be nominated by the Revenue Commissioners,

(b) where such other officer is nominated, he shall be entitled accordingly to be substituted as a party to the proceedings in the place of the first-mentioned officer, and

(c) where an officer is so substituted, he shall give notice in writing of the substitution to the defendant.

(3) In proceedings pursuant to this section, a certificate signed by a Revenue Commissioner certifying the following facts, namely, that a person is an officer of the Revenue Commissioners and that he has been authorised by them for the purpose of subsection (1), shall be evidence until the contrary is proved of those facts.

(4) In proceedings pursuant to this section, a certificate signed by a Revenue Commissioner certifying the following facts, namely, that the plaintiff has ceased to be an officer of the Revenue Commissioners authorised by them for the purposes of subsection (1), that another person is an officer of the Revenue Commissioners, that such other person has been authorised by them for the purposes of that subsection and that he has been nominated by them, in relation to the proceedings, for the purposes of subsection (2), shall be evidence until the contrary is proved of those facts.

(5) In proceedings pursuant to this section—

(a) a certificate signed by an inspector certifying the fact that before the institution of the proceedings a stated sum for income tax or sur-tax became due and payable by the defendant under an assessment which had become final and conclusive, and

(b) a certificate signed by the Collector certifying the following facts, namely, that he is the Collector duly authorised to collect the said stated sum, that before the institution of the proceedings payment of the said stated sum was duly demanded from the defendant and that the said stated sum or a stated part thereof remains due and payable by the defendant,

shall be evidence until the contrary is proved of those facts.

(6) (a) Each of the following provisions of this section shall be a relevant provision of this section for the purposes of this subsection:

(i) subsection (3),

(ii) subsection (4),

(iii) paragraph (a) of subsection (5),

(iv) paragraph (b) of subsection (5).

(b) In proceedings pursuant to this section, a certificate certifying the fact or facts referred to in a relevant provision and purporting to be signed as specified in that provision may be tendered in evidence without proof and shall be deemed until the contrary is proved to have been signed by a person holding, at the time of the signature, the office or position indicated in the certificate as the office or position of the person signing.

(7) All or any of the sums due from any one person in respect of either or both of the taxes mentioned in subsection (1) may be included in the same summons.

(8) Subject to this section, the rules of the High Court for the time being applicable to civil proceedings commenced by summary summons shall apply to proceedings pursuant to this section.

489 Evidence in proceedings for recovery of tax.

489.—(1) In any proceedings in the Circuit Court or the District Court for or in relation to the recovery of income tax or sur-tax, an affidavit duly made by an officer of the Revenue Commissioners (including as regards the matters mentioned in paragraphs (c) and (d) of this subsection the Collector) deposing to any of the following matters—

(a) that the assessment of tax was duly made,

(b) that the assessment has become final and conclusive,

(c) that the tax or any specified part thereof is due and outstanding,

(d) that demand for the payment of the tax has been duly made,

shall be evidence, until the contrary is proved, of the matters so deposed to.

(2) If the averments in the affidavit are not disputed by the defendant or respondent, it shall not be necessary for the officer by whom the affidavit was made to attend or give oral evidence at the hearing of the proceedings nor shall it be necessary to produce or put in evidence at the hearing any register, file, book of assessment, or other record relating to the tax.

(3) If any averment contained in the affidavit is disputed by the defendant or respondent, the judge or justice shall upon such terms as to costs as he thinks just give a reasonable opportunity by adjournment of the hearing or otherwise for the officer by whom the affidavit was made to attend and give oral evidence in the proceedings and for any such record as aforesaid to be produced and put in evidence in the proceedings.

490 Form of execution order in High Court or Circuit Court.

490.—(1) This section applies to any proceedings instituted in the High Court or the Circuit Court for the recovery of income tax or sur-tax or for any fine, penalty or forfeiture in connection with any such tax.

(2) Notwithstanding anything to the contrary provided by or under any enactment or by any rule of court—

(a) where judgment against the defendant for any amount is given by the High Court in proceedings to which this section applies, the form of execution order to be issued in relation to the amount shall be in the form set out in Schedule 14, Part I, and the sum recoverable for the costs of the execution order shall be the sum of £1 10s. 0d.,

(b) where the judgment is given by the Circuit Court, the form of execution order to be so issued shall be in the form set out in Schedule 14, Part II, and the sum recoverable for the costs of the execution order shall be the sum of 16s. 6d.

491 Recovery of moneys due.

491.—(1) Every sum due in respect of income tax or sur-tax and also every fine, penalty, or forfeiture incurred in connection with income tax or sur-tax, shall be deemed to be a debt due to the Minister for Finance for the benefit of the Central Fund and shall be payable to the Revenue Commissioners and may (without prejudice to any other mode of recovery thereof) be sued for and recovered by action, or other appropriate proceeding, at the suit of the Attorney General in any court of competent jurisdiction.

(2) Moneys so due or payable to or for the benefit of the Central Fund shall have attached to them all such rights, privileges, and priorities as have heretofore attached thereto, but this subsection shall not operate to make such moneys payable in priority to other debts.

492 Judgments for recovery of tax.

492.—(1) Where, in any proceedings for the recovery of income tax or sur-tax, judgment is given against the person against whom the proceedings are brought and the judgment provides for the arrest and imprisonment of that person and a sum is accepted on account or in part payment of the amount for which the judgment was given—

(a) such acceptance shall not prevent or prejudice the recovery under the judgment of the balance remaining unpaid of the said amount, and

(b) the judgment shall be capable of being executed and enforced in respect of the balance as fully in all respects and by the like means as if the balance were the amount for which the judgment was given, and

(c) the law relating to the execution and enforcement of the judgment shall apply and have effect in respect of the balance accordingly, and

(d) a certificate by a secretary or an assistant secretary of the Revenue Commissioners stating the amount of the balance shall, for the purposes of the enforcement and execution of the judgment, be conclusive evidence of the amount of the balance.

(2) In this section “judgment” includes any order or decree.

493 Duration of imprisonment for non-payment of tax.

493.—Where any person was or shall be committed to prison by a court of competent jurisdiction for non-payment of a sum of money due to the Minister for Finance for the benefit of the Central Fund in respect of income tax or sur-tax, the Revenue Commissioners are hereby authorised and required at the expiration of six months from the date of the committal of such person to prison to order his discharge from prison whether the sum for the non-payment of which he was so committed shall or shall not have been paid.

494 Recovery of tax charged on profits not distrainable.

494.—(1) Where tax is charged on the profits of royalties, markets or fairs, or on tolls, fisheries or any other annual or casual profits not distrainable, the owner or occupier or receiver of the profits thereof shall be answerable for the tax so charged, and may retain and deduct the same out of any such profits.

(2) In every such case the Collector may distrain upon the persons respectively answerable, and may exercise all the powers in that behalf conferred by this Act.

495 Proceedings against a collector or his sureties.

495.—(1) On the trial of any action against the sureties of a collector appointed under section 7 of the Finance Act, 1934, on a bond entered into by him or on the execution of a writ of inquiry of damages in any such action, the production of an account, in the handwriting of such collector or signed by him, of any sum of money collected or received by him for or on account of the tax or moneys, shall be sufficient proof of the receipt by him of every sum of money therein mentioned, on account of the tax given to him in charge for collection.

(2) A schedule delivered upon oath by such collector in pursuance of section 175 of the Income Tax Act, 1918, and containing, or purporting to contain, the names of persons who have made default in payment of the tax and the sums remaining in arrear, shall, in any such action and upon all other occasions, be sufficient evidence to charge the collector and his sureties, respectively, with all other sums of money comprised in the duplicate or duplicates given to him in charge to collect, and not included in that schedule or previously accounted for and paid over to the proper officer; and all such sums not so included in the schedule, or previously accounted for and paid over, shall be deemed to have been collected and received by the collector and to remain in his hands unpaid and in arrear.

PART XXXIV Repayment

496 Repayment for interest paid to banks, discount houses, etc.

496.—(1) Where interest payable in the State on an advance from a bank carrying on a bona fide banking business in the State is paid to the bank without deduction of tax out of profits or gains brought into charge to tax, the person by whom the interest is paid shall be entitled, on proof of the facts to the satisfaction of the Special Commissioners, to repayment of tax on the amount of the interest.

(2) A like repayment shall on the like proof be made in the case of interest (not being yearly interest) payable in the State on an advance from a person who in the opinion of the Revenue Commissioners is bona fide carrying on business as a member of a stock exchange in the State or from any person who in the opinion of the said Commissioners is bona fide carrying on the business of a discount house in the State:

Provided that no repayment shall be made unless the Revenue Commissioners are satisfied that the interest has been or will be brought into account in the statement delivered or to be delivered for the purposes of income tax by the person making the advance.

497 Rate of tax at which repayments are to be made.

497.—Any repayment of income tax for any year of assessment to which any person may be entitled in respect of any deduction allowed under sections 138 to 143 shall, save as otherwise provided by this Act, be made at the standard rate of tax for that year:

Provided that, in the case of any person who proves as regards any year that, by reason of the deductions to which he is entitled, he has no taxable income for that year, any repayment to be made shall be a repayment of the whole amount of the tax paid by him, whether by deduction or otherwise, in respect of his income for that year.

498 Limit of time for repayment claims.

498.—Save as otherwise expressly provided by any provision of this Act, no claim for repayment of income tax under this Act shall be allowed unless it is made within six years next after the end of the year of assessment to which it relates.

PART XXXV Penalties and Assessments

499 Application of Part XXXV.

499.—The following provisions of this Part shall have effect in relation to any penalties incurred (whether by commission or omission) after the passing of this Act with respect to any year of assessment whether ending before or ending after such passing.

500 Penalties for failure to make certain returns, etc.

500.—(1) Where any person—

(a) has been required, by notice or precept given under or for the purposes of any of the provisions specified in column 1 or 2 of Schedule 15, to deliver any return, statement, declaration, list or other document, to furnish any particulars, to produce any document, or to make anything available for inspection, and he fails to comply with the notice or precept, or

(b) fails to do any act, furnish any particulars or deliver any account in accordance with any of the provisions specified in column 3 of that Schedule,

he shall, subject to subsection (2) and to section 503, be liable to a penalty of £100 and, if the failure continues after judgment has been given by the court before which proceedings for the penalty have been commenced, to a further penalty of £10 for each day on which the failure so continues.

(2) Where the said notice was given under or for the purposes of any of the provisions specified in column 1 of the said Schedule and the failure continues after the end of the year of assessment following that during which the notice was given, the first of the penalties mentioned in subsection (1) shall be £250.

(3) The preceding provisions of this section shall have effect subject to the proviso to section 169 (4) and the proviso to section 178 (1).

501 Penalty for fraudulently or negligently making incorrect returns, etc.

501.—(1) Where a person fraudulently or negligently—

(a) delivers any incorrect return or statement of a kind mentioned in any of the provisions specified in column 1 of Schedule 15,

(b) makes any incorrect return, statement or declaration in connection with any claim for any allowance, deduction or relief, or

(c) submits to the Revenue Commissioners, the Special Commissioners or an inspector any incorrect accounts in connection with the ascertainment of his liability to income tax or sur-tax,

he shall, subject to section 503, be liable to a penalty of—

(i) £100, and

(ii) the amount, or, in the case of fraud, twice the amount, of the difference specified in section 502 (1).

(2) Where a person fraudulently or negligently furnishes, gives, produces or makes any incorrect return, information, certificate, document, record, statement, particulars, account or declaration of a kind mentioned in any of the provisions specified in column 2 or 3 of Schedule 15, he shall, subject to section 503, be liable to a penalty of £100, or, in the case of fraud, of £250.

(3) Where any such return, statement, declaration or accounts as is or are mentioned in subsection (1) was or were made or submitted by a person neither fraudulently nor negligently and it comes to his notice (or, if he has died, to the notice of his personal representatives) that it or they was or were incorrect, then, unless the error is remedied without unreasonable delay, the return, statement, declaration or accounts shall be treated for the purposes of this section as having been negligently made or submitted by him.

(4) Subject to section 504 (2), proceedings for the recovery of any penalty under subsection (1) or (2) shall not be out of time by reason that they are commenced after the time allowed by section 511.

502 Provisions supplementary to section 501.

502.—(1) The difference referred to in section 501 (1) (ii) is the difference between—

(a) the amount of tax payable for the relevant years of assessment by the said person (including any amount deducted at source and not repayable), and

(b) the amount which would have been the amount so payable if the return, statement, declaration or accounts as made or submitted by him had been correct.

(2) The relevant years of assessment for the purposes of subsection (1) are, in relation to anything delivered, made or submitted in any year of assessment, that year, the next following year, and any preceding year of assessment; and the references in that subsection to the amount of tax payable include sur-tax, except that, in relation to anything done in connection with a partnership, they do not include any tax not chargeable in the partnership name.

(3) For the purposes of section 501, any accounts submitted on behalf of a person shall be deemed to have been submitted by that person unless he proves that they were submitted without his consent or knowledge.

503 Increased penalties in the case of body of persons.

503.—(1) Where the person mentioned in section 500 is a body of persons—

(a) the body of persons shall be liable to—

(i) in case the notice was given under or for the purposes of any of the provisions specified in column 1 of Schedule 15 and the failure continues after the end of the year of assessment following that during which the notice was given—a penalty of £1,000, and

(ii) in any other case—a penalty of £500,

and, if the failure continues after judgment has been given by the court before which proceedings for the penalty have been commenced, a further penalty of £50 for each day on which the failure so continues, and

(b) the secretary shall be liable to—

(i) in case the notice was given under or for the purposes of any of the provisions specified in column 1 of Schedule 15 and the failure continues after the end of the year of assessment following that during which the notice was given—a separate penalty of £200, and

(ii) in any other case—a separate penalty of £100.

(2) Where the person mentioned in section 501 is a body of persons—

(a) in the case of such fraud or negligence as is mentioned in section 501 (1)—

(i) the body of persons shall be liable to a penalty of—

(I) £500, and

(II) the amount, or, in the case of fraud, twice the amount, of the difference specified in section 502 (1), and

(ii) the secretary shall be liable to a separate penalty of £100, or, in the case of fraud, £200,

(b) in the case of any such fraud or negligence as is mentioned in section 501 (2)—

(i) the body of persons shall be liable to a penalty of £500, or, in the case of fraud, £1,000, and

(ii) the secretary shall be liable to a separate penalty of £100, or, in the case of fraud, £200.

(3) The preceding provisions of this section shall have effect subject to the proviso to section 169 (4) and the proviso to section 178 (1), but otherwise shall have effect notwithstanding anything contained in this Act.

504 Proceedings against executor or administrator.

504.—(1) Where the person who has incurred any penalty has died after the passing of this Act, any proceedings under this Act which have been or could have been commenced against him may be continued or commenced against his executor or administrator, as the case may be, and any penalty awarded in proceedings so continued or commenced shall be a debt due from and payable out of his estate.

(2) Proceedings commenced by virtue of subsection (1) may be begun at any time not later than three years after the expiration of the year of assessment in which the deceased person died in a case in which the grant of probate or letters of administration was made in that year and at any time not later than two years after the expiration of the year of assessment in which such grant was made in any other case, but the foregoing provisions of this subsection shall have effect subject to the proviso that where the executor or administrator lodges a corrective affidavit for the purpose of assessment of estate duty after the year of assessment in which the deceased person died, the proceedings may be begun at any time before the expiration of two years next after the end of the year of assessment in which the corrective affidavit was lodged.

505 Penalty for assisting in making incorrect return, etc.

505.—Any person who assists in or induces the making or delivery for any purposes of income tax or sur-tax of any return, account, statement or declaration which he knows to be incorrect shall be liable to a penalty of £500.

506 Evidence of income for purposes of Part XXXV.

506.—For the purposes of this Part, any assessment which can no longer be varied by the Special Commissioners on appeal or by the order of any court shall be sufficient evidence that the income in respect of which tax is charged in the assessment arose or was received as stated therein.

507 Failure to act within required time.

507.—For the purposes of this Part, a person shall be deemed not to have failed to do anything required to be done within a limited time if he did it within such further time, if any, as the Commissioners or officer concerned may have allowed; and where a person had a reasonable excuse for not doing anything required to be done, he shall be deemed not to have failed to do it if he did it without unreasonable delay after the excuse had ceased.

508 Recovery of penalties.

508.—(1) Without prejudice to any other mode of recovery of a penalty under the preceding provisions of this Part, or section 238, 240 or 296, an officer of the Revenue Commissioners, authorised by them for the purposes of this subsection, may sue in his own name by civil proceedings for the recovery of the penalty in the High Court as a liquidated sum and the provisions of section 94 of the Courts of Justice Act, 1924, shall apply accordingly.

(2) If an officer who has commenced proceedings pursuant to this section, or who has continued the proceedings by virtue of this subsection, dies or otherwise ceases for any reason to be an officer authorised for the purposes of subsection (1)—

(a) the right of such officer to continue the proceedings shall cease and the right to continue them shall vest in such other officer so authorised as may be nominated by the Revenue Commissioners,

(b) where such other officer is nominated under paragraph (a), he shall be entitled accordingly to be substituted as a party to the proceedings in the place of the first-mentioned officer, and

(c) where an officer is so substituted, he shall give notice in writing of the substitution to the defendant.

(3) In proceedings pursuant to this section, a certificate signed by a Revenue Commissioner certifying the following facts, namely, that a person is an officer of the Revenue Commissioners and that he has been authorised by them for the purposes of subsection (1), shall be evidence until the contrary is proved of those facts.

(4) In proceedings pursuant to this section, a certificate signed by a Revenue Commissioner certifying the following facts, namely, that the plaintiff has ceased to be an officer of the Revenue Commissioners authorised by them for the purposes of subsection (1), that another person is an officer of the Revenue Commissioners, that such other person has been authorised by them for the purposes of subsection (1) and that he has been nominated by them, in relation to the proceedings, for the purposes of subsection (2), shall be evidence until the contrary is proved of those facts.

(5) In proceedings pursuant to this section, a certificate certifying the facts referred to in subsection (3) or (4) and purporting to be signed by a Revenue Commissioner may be tendered in evidence without proof and shall be deemed until the contrary is proved to have been so signed.

(6) Subject to this section, the rules of the High Court for the time being applicable to civil proceedings shall apply to proceedings pursuant to this section.

509 Definitions.

509.—In the preceding provisions of this Part—

“assessment” includes additional assessment;

“secretary” includes such persons as are mentioned in section 207 (2).

510 Proceedings for certain penalties.

510.—Notwithstanding that the amount of a penalty recoverable under this Act cannot be definitely ascertained by reason of the fact that the amount of tax by reference to which such penalty is to be calculated has not been finally ascertained, proceedings may be instituted for the recovery of such penalty and, if at the hearing of such proceedings the amount of such tax has not then been finally ascertained, the Court may, if it is of opinion that such penalty is recoverable, adjourn such proceedings and shall not give any judgment or make any order for the payment of such penalty until the amount of such tax has been finally ascertained.

511 Time limit for recovery of fines and penalties.

511.—Proceedings for the recovery of any fine or penalty incurred under this Act in relation to or in connection with income tax or sur-tax may, subject to section 504, be begun at any time within six years next after the date on which such fine or penalty was incurred.

512 Mitigation and application of fines and penalties.

512.—(1) The Revenue Commissioners may, in their discretion, mitigate any fine or penalty, or stay or compound any proceedings for recovery thereof, and may also, after judgment, further mitigate or entirely remit the fine or penalty, and may order any person imprisoned for any offence to be discharged before the term of his imprisonment has expired. The Minister for Finance may mitigate or remit any such fine or penalty, either before or after judgment.

(2) Moneys arising from fines, penalties and forfeitures, and all costs, charges and expenses payable in respect thereof or in relation thereto respectively, shall be accounted for and paid to the Revenue Commissioners or as they direct.

513 Power to add penalties to assessments.

513.—Where an increased rate of tax is imposed as a penalty, or as part of or in addition to a penalty, the penalty and increased rate of tax may be added to the assessment, and collected and levied in like manner as any tax included in such assessment may be collected and levied.

514 Saving for criminal proceedings.

514.—The provisions of this Act shall not affect any criminal proceedings for any felony or misdemeanour.

515 Fine for obstruction of officers in execution of duties.

515.—(1) If any person, by himself or by any person in his employ, obstructs, molests, or hinders—

(a) an officer or any person employed in relation to any duty of income tax in the execution of his duty, or of any of the powers or authorities by law given to the officer or person; or

(b) any person acting in the aid of an officer or any person so employed;

he shall, for every such offence, incur a fine of £100.

(2) Without prejudice to any other mode of recovery, the fine imposed under this section may be proceeded for and recovered in the same manner, and, in the case of summary proceedings, with the like power of appeal, as any fine or penalty under any Act relating to the excise.

516 Penalty for false statement made to obtain allowance.

516.—If any person, for the purpose of obtaining any allowance, reduction, rebate, or repayment in respect of tax either for himself or for any other person, or in any return made with reference to tax, knowingly makes any false statement or false representation, he shall be liable, on summary conviction, to imprisonment for a term not exceeding six months and any person shall also be liable as aforesaid if he knowingly and wilfully aids, abets, assists, incites or induces another person to make or deliver a false or fraudulent account, return, list, declaration or statement with reference to property, profits or gains or to tax.

517 Time for certain summary proceedings.

517.—Notwithstanding subsection (4) of section 10 of the Petty Sessions (Ireland) Act, 1851, summary proceedings under section 128, 173, 413 or 516 may be instituted within three years from the date of the committing of the offence or incurring of the penalty (as the case may be).

518 False evidence: punishment as for perjury.

518.—If any person, upon any examination on oath, or in any affidavit or deposition authorised by this Act, wilfully and corruptly gives false evidence, or wilfully and corruptly swears any matter or thing which is false or untrue, he shall on conviction be subject and liable to such punishment as persons convicted of perjury are subject and liable to.

519 Limitation of penalties on officers employed in execution of Act.