LegalizeIncome Tax Act , 1967
2.—(1) Subject to the provisions of this Schedule, where, under the arrangements, credit is to be allowed against any of the Irish taxes chargeable in respect of any income, the amount of the Irish taxes so chargeable shall be reduced by the amount of the credit.
(2) The credit to be allowed shall be first applied in reducing the amount of any corporation profits tax chargeable in respect of the income and, so far as it cannot be so applied, in reducing the income tax chargeable in respect thereof.
(3) Nothing in this paragraph authorises the allowance of credit against any Irish tax against which credit is not allowable under the arrangements.
Requirements as to incorporation and residence
3.—(1) Credit shall not be allowed against corporation profits tax unless the company in respect of whose income the corporation profits tax is chargeable is incorporated by or under the laws of the State.
(2) Credit shall not be allowed against income tax for any year of assessment unless the person in respect of whose income the tax is chargeable is resident in the State for that year.
Limit on total credit—corporation profits tax
The amount of the credit to be allowed against corporation profits tax for foreign tax in respect of any income shall not exceed the corporation profits tax attributable to that income.
Limit on total credit—income tax
5.—(1) The amount of the credit to be allowed against income tax for foreign tax in respect of any income shall not exceed the sum which would be produced by computing the amount of that income in accordance with this Act, and then charging it to income tax for the year of assessment for which the credit is to be allowed, but at the following rate, that is to say—
(a) in the case of a person whose income is chargeable to income tax but not to sur-tax, a rate ascertained by dividing the income tax payable by that person for that year by the amount of the total income of that person for that year;
(b) in the case of a person whose income is chargeable to surtax, the sum of the following rates—
(i) the rate which would have been the appropriate rate in his case if his income had been chargeable to income tax but not to sur-tax, and
(ii) the rate ascertained by dividing the sur-tax payable by him for that year by the amount of his total income for that year:
Provided that where, under the arrangements, credit is not to be allowed against sur-tax for the year, the rate shall be calculated in all cases as in the case of persons whose incomes are chargeable to income tax but not to sur-tax, and where, under the arrangements, credit is not to be allowed except against sur-tax for the year, the rate shall be that ascertained by dividing the sur-tax payable by the person in question for the year by the amount of his total income for the year.
(2) For the purpose of determining the said rate, the tax payable by any person for any year shall be computed without regard to any relief in respect of life assurance premiums and without any reduction thereof for any credit allowed or to be allowed under any arrangements having effect by virtue of section 361 but shall be deemed to be reduced by any tax which, otherwise than under section 456, the person in question is entitled to charge against any other person, and the total income of any person shall be deemed to be reduced by the amount of any income the income tax upon which that person is entitled to charge as aforesaid.
(3) Where credit for foreign tax falls to be allowed in respect of any income and any relief would, but for the provisions of this subparagraph, fall to be allowed in respect of that income under section 365, the said relief shall not be allowed.
Without prejudice to the provisions of the last preceding paragraph, the total credit to be allowed to a person against income tax for any year of assessment shall not exceed the total income tax payable by the person in question for that year of assessment, less any tax which, otherwise than under section 456, that person is entitled to charge against any other person.
Effect on computation of income of allowance of credit
(1) Subject to the provisions of this paragraph, where credit for foreign tax falls to be allowed against any of the Irish taxes in respect of any income, no deduction for foreign tax (whether in respect of that or any other income) shall be made in computing the amount of that income for the purposes of corporation profits tax.
(2) Where the income includes a dividend and, under the arrangements, foreign tax not chargeable directly or by deduction in respect of the dividend is to be taken into account in considering whether any, and if so what, credit is to be allowed against the Irish taxes in respect of the dividend, the amount of the income shall for the purposes of corporation profits tax, be treated as increased by the amount of the foreign tax not so chargeable which falls to be taken into account in computing the amount of the credit.
(3) Notwithstanding anything in the preceding provisions of this paragraph, where part of the foreign tax in respect of the income (including any foreign tax which, under subparagraph (2), falls to be treated as increasing the amount of the income) cannot be allowed as a credit against any of the Irish taxes, the amount of the income shall be treated for the purposes of corporation profits tax as reduced by that part of that foreign tax.
(1) Where credit for foreign tax falls to be allowed against any of the Irish taxes in respect of any income, the following provisions of this paragraph shall have effect as respects the computation, for the purposes of income tax, of the amount of that income.
(2) Where the income tax payable depends on the amount received in the State, the said amount shall be treated as increased by the amount of the credit allowable against income tax.
(3) Where subparagraph (2) does not apply—
(a) no deduction shall be made for foreign tax (whether in respect of the same or any other income), and
(b) where the income includes a dividend and under the arrangements foreign tax not chargeable directly or by deduction in respect of the dividend is to be taken into account in considering whether any, and if so what, credit is to be allowed against the Irish taxes in respect of the dividend, the amount of the income shall be treated as increased by the amount of the foreign tax not so chargeable which falls to be taken into account in computing the amount of the credit, but
(c) notwithstanding anything in the preceding provisions of this subparagraph, where any part of the foreign tax in respect of the income (including any foreign tax which, under clause (b) of this subparagraph, falls to be treated as increasing the amount of the income) either falls to be allowed as a credit against corporation profits tax, or cannot be allowed as a credit against any of the Irish taxes, the amount of the income shall be treated for the purposes of income tax as reduced by that part of that foreign tax:
Provided that in relation to foreign tax in respect of income arising before the 1st day of April, 1966, the provisions of this paragraph shall have effect as if the words “either falls to be allowed against corporation profits tax or” were omitted from this clause and, for the purposes of this proviso, in a case in which the foreign tax is chargeable in respect of income arising in a period of which a part is before the 1st day of April, 1966, and a part after the 31st day of March, 1966, the foreign tax shall be apportioned in proportion to the respective lengths of those parts.
(4) In relation to the computation of the total income of a person for the purpose of determining the rate mentioned in paragraph 5, the preceding provisions of this paragraph shall have effect subject to the following modifications:
(a) for the reference in subparagraph (2) to the amount of the credit allowable against income tax, there shall be substituted a reference to the amount of the foreign tax in respect of the income (in the case of a dividend, foreign tax not chargeable directly or by deduction in respect of the dividend being left out of account), and
(b) clauses (b) and (c) of subparagraph (3) shall not apply,
and subject to those modifications shall have effect in relation to all income in the case of which credit falls to be allowed for foreign tax under any arrangements.
Special Provisions as to Dividends
Where, in the case of any dividend, foreign tax not chargeable directly or by deduction in respect of the dividend is, under the arrangements, to be taken into account in considering whether any, and if so what, credit is to be allowed against the Irish taxes in respect of the dividend, the foreign tax not so chargeable which is to be taken into account shall be that borne by the body corporate paying the dividend upon the relevant profits in so far as it is properly attributable to the proportion of the relevant profits which is represented by the dividend.
The relevant profits are:
(a) if the dividend is paid for a specified period, the profits of that period;
(b) if the dividend is not paid for a specified period, but is paid out of specified profits, those profits;
(c) if the dividend is paid neither for a specified period nor out of specified profits, the profits of the last period for which accounts of the body corporate were made up which ended before the dividend became payable:
Provided that if, in a case falling under subparagraph (a) or subparagraph (c), the total dividend exceeds the profits available for distribution of the period mentioned in subparagraph (a) or subparagraph (c), as the case may be, the relevant profits shall be the profits of that period plus so much of the profits available for distribution of preceding periods (other than profits previously distributed or previously treated as relevant for the purposes of this paragraph) as is equal to the excess; and for the purposes of this proviso the profits of the most recent preceding period shall first be taken into account, then the profits of the next most recent preceding period, and so on.
Where—
(a) the arrangements; provide, in relation to dividends of some classes, but not in relation to dividends of other classes, that foreign tax not chargeable directly or by deduction in respect of dividends is to be taken into account in considering whether any, and if so what, credit is to be allowed against the Irish taxes, in respect of the dividends, and
(b) a dividend is paid which is not of a class in relation to which the arrangements so provide,
then, if the dividend is paid to a company which controls, directly or indirectly, not less than one half of the voting power in the company paying the dividend, credit shall be allowed as if the dividend were a dividend of a class in relation to which the arrangements so provide.
Miscellaneous
Credit shall not be allowed under the arrangements against the Irish taxes chargeable in respect of any income of any person if the person in question elects that credit shall not be allowed in respect of that income.
Where, under the arrangement, relief may be given either in the State or in the territory in regard to which the arrangements are made in respect of any income and it appears that the assessment to income tax or to corporation profits tax made in respect of the income is not made in respect of the full amount thereof or is incorrect having regard to the credit, if any, which falls to be given under the arrangements, any such additional assessments may be made as are necessary to ensure that the total amount of the income is assessed and the proper credit, if any, is given in respect thereof, and where the income is entrusted to any person in the State for payment, any such additional assessment to income tax may be made on the recipient of the income under Case IV of Schedule D.
(1) Subject to paragraph 14, any claim for an allowance by way of credit for foreign tax in respect of any income shall be made in writing to the inspector not later than six years from the end of the relevant year of assessment, and, if the inspector objects to any such claim, it shall be heard and determined by the Special Commissioners as if it were an appeal to them against an assessment to income tax and the provisions of this Act relating to the rehearing of an appeal or the statement of a case for the opinion of the High Court on a point of law, shall, with the necessary modifications, apply accordingly.
(2) In this paragraph “the relevant year of assessment” means, in relation to credit for foreign tax in respect of any income, the year of assessment for which that income falls to be charged to income tax or would fall so to be charged if any income tax were chargeable in respect thereof.
Where the amount of any credit given under the arrangements is rendered excessive or insufficient by reason of any adjustment of the amount of any tax payable either in the State or in the territory in regard to which the arrangements are made, nothing in this Act or in the enactments relating to corporation profits tax limiting the time for the making of assessments or claims for relief shall apply to any assessment or claim to which the adjustment gives rise, being an assessment or claim made not later than six years from the time when all such assessments, adjustments and other determinations have been made, as are material in determining whether any, and if so what, credit falls to be given.
SCHEDULE 11 Purchase and Sale of Securities: Appropriate Amount in Respect of the Interest
For the purposes of section 368, the appropriate amount in respect of the interest is the appropriate proportion of the net interest receivable by the first buyer.
For the purposes of sections 369 and 370, the appropriate amount in respect of the interest is the gross amount corresponding with the appropriate proportion of the net interest receivable by the first buyer.
(1) For the purposes of paragraphs 1 and 2, the appropriate proportion is the proportion which—
(a) the period beginning with the first relevant date and ending with the day before the day on which the first buyer bought the securities,
bears to—
(b) the period beginning with the first relevant date and ending with the day before the second relevant date.
(2) In subparagraph (1)—
“the first relevant date” means—
(a) in case the securities have not been quoted in the official list of the Dublin Stock Exchange at a price excluding the value of the interest payment last payable before the interest receivable by the first buyer or, the securities having been so quoted, the date of the quotation was not the earliest date on which they could have been so quoted if an appropriate dealing in the securities had taken place—the said earliest date, and
(b) in any other case—the date on which the securities have been first so quoted;
“the second relevant date” means—
(a) in case the securities have not been quoted in the official list of the Dublin Stock Exchange at a price excluding the value of the interest receivable by the first buyer or, the securities having been so quoted, the date of the quotation was not the earliest date on which they could have been so quoted if an appropriate dealing in the securities had taken place—the said earliest date, and
(b) in any other case—the date on which the securities have been first so quoted.
(3) Where the interest receivable by the first buyer was the first interest payment payable in respect of the securities, subparagraph (1) shall have effect with the substitution, for the references to the first relevant date, of the beginning of the period for which the interest was payable:
Provided that, where the capital amount of the securities was not fully paid at the beginning of the said period and one or more instalments of capital were paid during that period—
(a) the interest shall be treated as divided into parts, calculated by reference to the amount of the interest attributable to the capital paid at or before the beginning of the said period and the amount thereof attributable to each such instalment, and
(b) treating each of the said parts as interest payable for the said period or, where the part was calculated by reference to any such instalment, as interest payable for the part of the said period beginning with the payment of the instalment, there shall be calculated, in accordance with the foregoing provisions of this paragraph, the amount constituting the appropriate proportion of each part, and
(c) the appropriate proportion of the interest for the purposes of paragraphs 1 and 2 shall be the proportion thereof constituted by the sum of the said amounts.
(4) In relation to securities which are not the subject of quotations in the official list of the Dublin Stock Exchange, subparagraph (1) shall have effect with the substitution for the periods therein mentioned of such periods as in the opinion of the Special Commissioners correspond therewith in the case of the securities in question.
Where the securities are of a description such that the bargain price is increased, where interest is receivable by the buyer, by reference to gross interest accruing before the bargain date, the foregoing paragraphs shall not apply, but, for the purposes of each of the said sections, the appropriate amount in respect of the interest shall be the amount of the increase in the bargain price.
SCHEDULE 12 Dividends Regarded As Paid Out Of Profits Accumulated Before Given Date
(1) Subject to the provisions of the next following paragraph, a dividend shall be regarded for the purposes of section 371 and of this Schedule as paid wholly out of profits accumulated before a given date (hereafter in this Schedule referred to as the relevant date)—
(a) if it is declared for a period falling wholly before the relevant date,
(b) if there are no profits of the company arising in the period beginning with the relevant date and ending with the date on which the dividend is payable, or
(c) if, out of such profits of the company as arose in the said period beginning with the relevant date, no part is, having regard to paragraph 3, available for payment of the dividend.
(2) Subject as aforesaid, where, out of such profits of the company as arose in the said period beginning with the relevant date, some part is, having regard to paragraph 3, available for payment of the dividend but the total amount distributed in payment of the net dividend on all the shares of the class in question exceeds the said part of the profits, the dividend shall be regarded for the said purposes as paid out of profits accumulated before the relevant date to an extent which is the same as the proportion which the excess bears to the said total amount.
(3) For the purposes of this Schedule a dividend which is declared for a period falling partly before the relevant date, and partly after, shall be regarded as consisting of two dividends respectively declared for the two parts of the period and of amounts proportionate to those parts.
(1) Notwithstanding the provisions of paragraph 1, a dividend shall not be regarded as paid to any extent out of profits accumulated before the relevant date—
(a) if it became payable within one year from that date, and
(b) if in the opinion of the Special Commissioners the annual rate of dividend on the shares in question in the said year—
(i) is not substantially greater than the annual rate of dividend on those shares in the period of three years ending on the relevant date, or
(ii) in a case where the shares in question were acquired in the ordinary course of a business of arranging public issues and placings of shares, represents a yield on the cost to the person receiving the dividend which is not substantially greater than the yield obtainable by investing in comparable shares the prices of which are quoted on stock exchanges in the State.
(2) For the purposes of clause (b) of subparagraph (1) the Special Commissioners shall have regard to all dividends paid on the shares in the respective periods, to any share-issue made in those periods to holders of the shares and, in a case under sub-clause (i) of the said clause (b) where the shares were not in existence three years before the relevant date, to the dividends paid on, and any share-issue made to holders of, any shares surrendered in exchange for the first-mentioned shares or in right of which the first-mentioned shares were acquired, and shall take such averages and make such adjustments as may appear to them to be required for a fair comparison.
(1) The part of the profits of the company arising in the period beginning on the relevant date and ending on the date on which a dividend is payable which is available for payment of the dividend shall be determined as follows.
(2) There shall be deducted from the said profits such amount, whether fixed or proportionate to the amount of the profits, as in the opinion of the Special Commissioners ought justly and reasonably to be treated as set aside for payment of dividends on any other class of shares in the company, having regard to the respective rights attaching to the shares and on the assumption that the total amount available for distribution by way of net dividend on all the shares in the company over any period will be proportionately greater or less than the profits of the company arising in the period beginning on the relevant date and ending on the date on which the dividend mentioned in subparagraph (1) is payable, according as the first-mentioned period is longer or shorter than the second-mentioned period.
(3) In a case where, in the period beginning on the relevant date and ending on the date on which the dividend is payable, no previous dividend became payable on the shares of the class in question, the whole of the profits of the company arising in the period, less any deduction to be made under subparagraph (2), shall be regarded as available for payment of the dividend.
(4) If any previous dividend became payable in the said period on the same shares, there shall be determined in accordance with the foregoing paragraphs the extent, if any, to which that previous dividend is to be regarded as paid out of profits accumulated before the relevant date, and the profits of the company arising in the said period, less any deduction to be made as aforesaid, shall be regarded as primarily available for payment of the net amount of that previous dividend so far as it is not regarded as paid out of profits accumulated before the relevant date and only such balance, if any, as remains shall be regarded as available for payment of the later dividend.
(5) Where under subparagraph (2) it falls to the Special Commissioners to determine what should be set aside for payment of dividends on shares of any class, and dividends on shares of that class have been treated under this Schedule as paid to any extent out of profits accumulated before the relevant date, the Special Commissioners may take that fact into account and reduce the amount to be so set aside accordingly.
(1) For the purposes of this Schedule the profits of a company arising in a given period shall be determined as follows.
(2) The said profits shall be the income of the company for the period diminished by—
(a) the income tax actually borne by the company for any year of assessment in the said period (including any sur-tax borne by the company under section 530 and Schedule 16), and
(b) the corporation profits tax payable by the company for any accounting period in the said period:
Provided that where relief has been afforded to the company under section 358, 360 or 361, references in this subparagraph to tax actually borne or to tax payable shall be construed as references to the tax which would have been borne or payable if that relief had not been given.
(3) In ascertaining for the purposes of this paragraph the amount of income tax and corporation profits tax by which the income of the company for the period is to be diminished, any tax on the amount to be deducted under clause (d) or (e) of paragraph 5 (3) shall be left out of account.
(1) For the purposes of this Schedule the income of the company for a given period shall be determined as follows.
(2) There shall be computed the aggregate amount—
(a) of any profits or gains arising in the period from any trade carried on by the company computed in accordance with the provisions applicable to Case I of Schedule D, and
(b) of any income for any year of assessment in the period (computed in accordance with the provisions of this Act) other than profits or gains arising from any such trade.
(3) There shall be deducted from the said aggregate amount the sum of the following amounts, that is to say—
(a) any loss sustained by the company in the period in any such trade (computed in the same manner as profits or gains under the provisions applicable to Case I of Schedule D),
(b) any allowances in respect of any such trade under sections 241, 244 (3) or 245, Chapter III of Part XIV, Part XV or XVI for any year of assessment in the period,
(c) any payments made by the company in any year of assessment in the period to which section 433 or 434 applies, other than payments which are deductible in computing the profits or gains or losses of a trade carried on by it,
(d) if the company is not engaged in carrying on such a trade as is mentioned in section 371 (1) and has received in a year of assessment in the period a dividend which, if the company had been engaged in such a trade, would have been required by section 371 (1) to be brought into account to any extent as mentioned therein, such amount as would, after deduction of income tax at the rate authorised to be deducted by section 456, be equal to the amount which would have been so required to be brought into account, and
(e) if the company is not engaged as aforesaid, but were it so engaged any reduction under section 368 would, or would but for section 368 (3), fall to be made as respects the price paid by the company for securities (within the meaning of that section) bought by it in a year of assessment in the period, such amount as would, after deduction of income tax at the rate applicable to the payment, be equal to the amount of the reduction, so however that where the securities are of the description specified in paragraph 4 of Schedule 11, the amount shall be the amount of the reduction,
and the balance shall be the income of the company for the period.
Any reference in paragraph 4 or 5 to an amount for a year of assessment in the period in question shall be taken as a reference to the full amount for any year of assessment falling wholly within the period and a proportionate part of the amount (on a time basis) for any year of assessment falling partly within that period, and the reference therein to corporation profits tax payable for any accounting period in the said period shall be construed in a corresponding manner.
SCHEDULE 13 Scheduled Minerals
Barytes.
Felspar.
Serpentinous marble.
Quartz rock.
Soapstone.
Ores of copper.
Ores of gold.
Ores of iron.
Ores of lead.
Ores of manganese.
Ores of molybdenum.
Ores of silver.
Ores of sulphur.
Ores of zinc.
SCHEDULE 14 Forms of Execution Orders
PART I
THE HIGH COURT
REVENUE
| 19 | No. | |
|---|---|---|
| Between | ||
| A.B., | Plaintiff, | |
| and | ||
| C.D., | Defendant. |
To the several Sheriffs and County Registrars and to the Commissioner and members of the Garda Síochána, greeting.
WHEREAS lately in the High Court it was adjudged that the person named in Part I of the Schedule hereto (in this Order referred to as the Debtor) is justly indebted to the Minister for Finance for the benefit of the Central Fund in the sum stated in column (1) of Part II of that Schedule together with the sum stated in column (2) of that Part for costs as appears of record in the High Court:
You the several Sheriffs and County Registrars are hereby commanded to take in execution the goods and chattels of the Debtor to satisfy the aggregate amount stated in column (4) of the said Part II, being the aggregate amount of those sums together with the sum stated in column (3) of the said Part II for the costs of this Order.
AND, save where the Debtor is a body corporate, in the event of the goods or chattels of the debtor not being sufficient to satisfy that aggregate, or in the event of the Debtor having no goods or chattels which can be taken in execution to satisfy that aggregate, you, the Sheriff or County Registrar to whom this Order is handed for execution, are hereby commanded to give a certificate to that effect in one of the forms endorsed hereon to the Commissioner of the Garda Síochána.
AND you, the Commissioner and members of the Garda Síochána, are hereby commanded, upon the receipt of this Order by such Commissioner, with the certificate endorsed hereon signed by the said Sheriff or County Registrar, to take and convey the Debtor to the nearest prison and there deliver him to the Governor of such prison there to remain and be kept by such Governor until satisfaction be made of that aggregate, or until the expiration of the period of six months, whichever shall be the shorter.
SCHEDULE
Name of Debtor:
| (1) | (2) | (3) | (4) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt | Costs | Costs of this Order | Aggregate of sums stated in columns (1), (2) and (3) | ||||||||
| £ | s. | d. | £ | s. | d. | £ | s. | d. | £ | s. | d. |
| 1 | 10 | 0 | |||||||||
| BY ORDER, | Chief Justice of Ireland, | ||||||||||
| --- | --- | ||||||||||
| the | day of | , 19. | |||||||||
| --- | --- | --- |
This Order is issued by
The Solicitor for the Plaintiff
of
Levy the aggregate amount stated in column (4) of Part II of the Schedule to the within Order.
Sheriff/County Registrar
of
CERTIFICATE
To the Commissioner of the Garda Síochána.
I hereby certify that the goods and chattels of the Debtor named in Part I of the Schedule to the within Order are not sufficient to satisfy the aggregate amount stated in column (4) of Part II of that Schedule and that the amount levied is the amount stated hereunder leaving a balance of the difference between that amount and the said aggregate amount to be satisfied.
£s.d.
AMOUNT LEVIED:
| GIVEN under my hand this | day of | , 19. |
|---|---|---|
Sheriff/County Registrar
of
To the Commissioner of the Garda Síochána.
I hereby certify that the Debtor named in Part I of the Schedule to the within Order has no goods or chattels which can be taken in execution to satisfy the aggregate amount stated in column (4) of Part II of that Schedule.
| GIVEN under my hand this | day of | , 19. |
|---|---|---|
Sheriff/County Registrar
of
PART II
THE CIRCUIT COURT
REVENUE
................................Circuit
County ................................
| Between | ||
|---|---|---|
| A.B., | and | Plaintiff, |
| C.D., | Defendant. |
To the several Sheriffs and County Registrars and to the Commissioner and members of the Garda Síochána, greeting.
WHEREAS lately in the Circuit Court it was adjudged that the person named in Part I of the Schedule hereto (in this Order referred to as the Debtor) is justly indebted to the Minister for Finance for the benefit of the Central Fund in the sum stated in column (1) of Part II of that Schedule together with the sum stated in column (2) of that Part for costs as appears of record in the Circuit Court:
You the several Sheriffs and County Registrars are hereby commanded to take in execution the goods and chattels of the Debtor to satisfy the aggregate amount stated in column (4) of the said Part II, being the aggregate amount of those sums together with the sum stated in column (3) of the said Part II for the costs of this Order.
AND, save where the Debtor is a body corporate, in the event of the goods or chattels of the Debtor not being sufficient to satisfy that aggregate, or in the event of the Debtor having no goods or chattels which can be taken in execution to satisfy that aggregate, you, the Sheriff or County Registrar to whom this Order is handed for execution, are hereby commanded to give a certificate to that effect in one of the forms endorsed hereon to the Commissioner of the Garda Síochána.
AND you, the Commissioner and members of the Garda Síochána, are hereby commanded, upon the receipt of this Order by such Commissioner, with the certificate endorsed hereon signed by the said Sheriff or County Registrar, to take and convey the Debtor to the nearest prison and there deliver him to the Governor of such prison there to remain and be kept by such Governor until satisfaction be made of that aggregate, or until the expiration of the period of six months, whichever shall be the shorter.
SCHEDULE
Name of Debtor:
| (1) | (2) | (3) | (4) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt | Costs | Costs of this Order | Aggregate of sums stated in columns (1), (2) and (3) | ||||||||
| £ | s. | d. | £ | s. | d. | s. | d. | £ | s. | d. | |
| 16 | 6 | ||||||||||
| Dated this | day of | , 19. | |||||||||
| --- | --- | --- | |||||||||
| By the Court. County Registrar. |
This Order is issued by
The Solicitor for the Plaintiff
of
Levy the aggregate amount stated in column (4) of Part II of the Schedule to the within Order.
Sheriff/County Registrar
of
CERTIFICATE
To the Commissioner of the Garda Síochána.
I hereby certify that the goods and chattels of the Debtor named in Part I of the Schedule to the within Order are not sufficient to satisfy the aggregate amount stated in column (4) of Part II of that Schedule and that the amount levied is the amount stated hereunder leaving a balance of the difference between that amount and the said aggregate amount to be satisfied.
£s.d.
AMOUNT LEVIED:
| GIVEN under my hand this | day of | , 19. |
|---|---|---|
Sheriff/County Registrar
of
To the Commissioner of the Garda Síochána.
I hereby certify that the Debtor named in Part I of the Schedule to the within Order has no goods or chattels which can be taken in execution to satisfy the aggregate amount stated in column (4) of Part II of that Schedule.
| GIVEN under my hand this | day of | , 19. |
|---|---|---|
Sheriff/County Registrar
of
SCHEDULE 15 Provisions Referred to in Sections 500, 501 and 503.
| Column 1 | Column 2 | Column 3 | |||
|---|---|---|---|---|---|
| section | 70 | section | 94 | section | 114 (7) |
| ” | 169 | ” | 104 (3) | ” | 234 (1) (a) |
| ” | 170 | ” | 171 | ” | 434 (2) |
| ” | 172 (1) | ” | 174 | ” | 484 |
| ” | 193 (5) | ” | 175 | ” | 525 (4) |
| ” | 197 | ” | 176 | ||
| ” | 198 | ” | 177 | Schedule 1: Part IV, paragraph 1. | |
| ” | 526 (2) | ” | 178 | ||
| ” | 526 (3) | ” | 234 (1) (b) | ||
| ” | 377 | ||||
| ” | 390 | ||||
| ” | 422 | ||||
| ” | 449 (2) | ||||
| ” | 455 (4) | ||||
| ” | 527 | ||||
| Schedule | 16, paragraph 4 | ||||
| ” | 16,”11 |
SCHEDULE 16 Sur-tax on Undistributed Income of Certain Companies
A company which is aggrieved by any direction given under section 530 may appeal to the Special Commissioners against the direction by giving notice of appeal to the Clerk to the Commissioners within twenty-one days after the date of the notice, and the Commissioners shall hear and determine the appeal, subject as herein provided, and the provisions of this Act relating to appeals against assessments shall, with any necessary modification, apply for the purposes of an appeal under this provision.
If either the Company or the Revenue Commissioners are dissatisfied with the determination of the Special Commissioners on any appeal under the foregoing provisions of this Schedule, they may, on giving notice to the Clerk to the Special Commissioners within twenty-one days after the determination, require the appeal to be reheard by the Board of Referees and the Special Commissioners shall transmit to the Board any document in their possession which was delivered to them for the purposes of the appeal.
The Board shall rehear and determine the appeal and shall have and exercise the same powers and authorities in relation to the appeal as the Special Commissioners might have and exercise, and the determination of the Board thereon shall be final and conclusive:
Provided that section 428 (which relates to the statement of a case on a point of law), shall apply with the necessary modifications in the case of any such rehearing and determination as it applies in the case of appeals to the Special Commissioners under the said Act.
For the purpose of being represented on any appeal under this Schedule before the Special Commissioners, the Revenue Commissioners may nominate a person in that behalf, and any person so nominated shall have the same powers at, and upon the determination of, the appeal as an inspector has at, and upon the determination of, any appeal relating to income tax.
The Special Commissioners may, at any time by notice in writing, require any company which appears to them to be a company to which section 530 applies, to furnish them with—
(a) a statement of the actual income of the company from all sources, together with a copy of the company's accounts for any year or other period for which the company's accounts have been made up and such particulars as the Commissioners may reasonably require as to the income of the company and the manner in which the income has been dealt with; and
(b) a statement for the same period of the names and addresses and particulars of the respective interests of all members of the company.
Where the Special Commissioners have issued a notice requiring a company to furnish them with particulars under paragraph 4 as respects any year or other period, and the auditor of the accounts of the company is a member of an incorporated society of accountants, the directors may, if they think fit, make and submit to the auditor such a statutory declaration as is hereinafter mentioned, and in such case the following provisions shall have effect:
(a) The directors of the company shall make a statutory declaration as to—
(i) The amount which they regard, or regarded, as proper to be retained in the business out of the income of that year or other period; and
(ii) The amount (if any) which they propose to recommend for distribution, or which has been distributed;
setting out the reasons for such retention and giving such information as will enable the auditor to form an opinion whether the amount (if any) proposed for distribution or distributed, having regard to such requirements as are mentioned in the proviso to section 530 (1) would be, or was, a reasonable part of the income for such year or other period;
(b) If the auditor—
(i) is satisfied that the information disclosed in the declaration is sufficient to enable him to form an opinion as to whether the proposed distribution or distribution (if any) would be or was a reasonable part of the income for such a year or other period as aforesaid; and
(ii) is satisfied that a prima facie case is made out by the reasons and information given in the declaration that the proposed distribution or distribution (if any) would be or was reasonable;
he may so certify:
(c) The certificate, together with the statutory declaration, shall be sent to the Special Commissioners who, unless they see reason to the contrary, shall take no further action in the matter.
In computing the actual income from all sources of a company for any year or period, the income from any source shall be estimated in accordance with the provisions of this Act relating to the computation of income from that source; except that the income shall be computed by reference to the income for such year or period as aforesaid and not according to an average of more than one year or by reference to any year or period other than such year or period aforesaid.
If any company fails or refuses on being so required in accordance with the provisions of this Schedule to furnish a statement of actual income from all sources or renders a statement with which the Special Commissioners are not satisfied, the Commissioners may make an estimate of that income to the best of their judgment.
The apportionment of the actual income from all sources of the company shall be made by the Special Commissioners in accordance with the respective interests of the members, and the income as apportioned to each member shall, for the purposes of sur-tax, be deemed to represent his income from his interest in the company for the year or other period and shall be included in the statement of his total income or in an amended statement of total income which the Special Commissioners are hereby authorised to require and shall be deemed to be the highest part of that income.
The income apportioned to a member of a company under section 530 shall, for the purposes of sur-tax, be deemed to have been received by him at the date to which the accounts of the company for the year or period were made up.
Notice of any apportionment made by the Special Commissioners shall be given by serving on the company a statement showing the amount of the actual income from all sources adopted by them for the purposes of section 530 and either the amount apportioned to each member or the amount apportioned to each class of shares, as they think fit.
A company which is aggrieved by any notice of apportionment shall be entitled to appeal to the Special Commissioners on giving notice to their Clerk within twenty-one days after the date of the notice, and those Commissioners shall hear and determine the appeal and all the provisions of this Act and any regulations made thereunder relating to appeals against assessments and to cases to be stated for the opinion of the High Court shall, with any necessary modification, apply for the purposes of any such appeal.
Any person in whose name any shares of a company are registered shall, if required by notice in writing by the Special Commissioners, state whether or not he is the beneficial owner of those shares, and if not the beneficial owner of those shares or any of them shall furnish the name and address of the person or persons on whose behalf the shares are registered in his name.
In this Schedule “Board of Referees” means the Board of Referees for the purposes of section 241.
SCHEDULE 17 Declarations. PART I Form of Declaration to be Made by Special Commissioners Acting in Respect of Tax Under Schedule D.
“I, A.B., do solemnly declare, that I will truly, faithfully, impartially and honestly, according to the best of my skill and knowledge, execute the powers and authorities vested in me by the Acts relating to income tax, and that I will exercise the powers entrusted to me by the said Acts in such manner only as shall appear to me necessary for the due execution of the same; and that I will judge and determine upon all matters and things which shall be brought before me under the said Acts, without favour, affection, or malice; and that I will not disclose any particular contained in any schedule, statement, return or other document delivered with respect to any tax charged under the provisions relating to Schedule D of the said Acts, or any evidence or answer given by any person who shall be examined, or shall make affidavit or deposition, respecting the same, in pursuance of the said Acts, except to such persons only as shall act in the execution of the said Acts, and where it shall be necessary to disclose the same to them for the purposes of the said Acts, or to the Revenue Commissioners, or in order to, or in the course of, a prosecution for perjury committed in such examination, affidavit or deposition.”
“I, A.B., do solemnly declare, that in the execution of the Acts relating to income tax, I will examine and revise all statements, returns, schedules, and declarations delivered within my district, and, in objecting to the same, I will act according to the best of my information and knowledge; and that I will conduct myself without favour, affection, or malice, and that I will exercise the powers, entrusted to me by the said Acts, in such manner only as shall appear to me to be necessary for the due execution of the same, or as I shall be directed by the Revenue Commissioners; and that I will not disclose any particular contained in any statement, return, schedule or other document, with respect to any tax charged under the provisions relating to Schedule D of the said Acts, or any evidence or answer given by any person who shall be examined, or shall make affidavit or deposition, respecting the same, in pursuance of the said Acts, except to such persons only as shall act in the execution of the said Acts, and where it shall be necessary to disclose the same to them for the purposes of the said Acts, or to the Revenue Commissioners, or in order to, or in the course of, a prosecution for perjury committed in such examination, affidavit or deposition.”
“I, A.B., do solemnly declare, that in the execution of the Acts relating to income tax, I will in all respects act diligently and honestly, and without favour or affection, to the best of my knowledge and belief, and that I will not disclose any particular contained in any statement, return, schedule or other document delivered to me in the execution of the said Acts, with respect to any tax charged under the provisions relating to Schedule D of the said Acts, except to such persons only as shall act in the execution of the said Acts, and where it shall be necessary to disclose the same to them for the purposes of the said Acts, or in order to, or in the course of, a prosecution for perjury committed in any matter relating to such statement, return, schedule or other document.”
“I, A.B., do solemnly declare, that in the execution of the Acts relating to income tax, I will not disclose any assessment, or the amount of any sum paid or to be paid by any person, under the said Acts, or the books of assessment which shall be delivered to me in the execution of the said Acts, with respect to any tax charged under the provisions relating to Schedule D of the said Acts, except to such persons only as shall act in the execution of the said Acts, and where it shall be necessary to disclose the same to them for the purposes of the said Acts, or to the Revenue Commissioners, or in order to, or in the course of, a prosecution for perjury committed in relation to the said tax.”
“I, A.B., do solemnly declare, that I will diligently and faithfully execute the office of a clerk according to the Acts relating to income tax, to the best of my knowledge and judgment; and that I will not disclose any particular contained in any statement, return, declaration, schedule or other document, with respect to the tax charged under the provisions relating to Schedule D of the said Acts, or any evidence or answer given by any person who shall be examined, or shall make affidavit or deposition, respecting the same, except to such persons only as shall act in the execution of the said Acts, and where I shall be directed so to do by the said Acts, or by the commissioners under whom I act, or by the Revenue Commissioners, or in order to, and in the course of, a prosecution for perjury committed in such examination, affidavit or deposition.”
PART II
“I, A.B., do solemnly declare, that I will truly, faithfully, impartially and honestly, according to the best of my skill and knowledge, execute the powers and authorities vested in me as a Commissioner for Offices, by the Acts relating to income tax, and that I will judge and determine upon all matters and things which shall be brought before me under the said Acts without favour, affection or malice.”
SCHEDULE 18 Statements, Lists, and Declarations.
A statement of the rent and annual value, or the annual value, as the case shall require, of all lands, tenements or hereditaments occupied, estimating separately such as are occupied as owner or tenant, and also such as are held under different landlords, and also such as are chargeable by reference to the rent or annual value, or on the amount of profits; and also estimating separately the rent or annual value chargeable in respect of the property, and the amount chargeable in respect of the occupation, distinguishing the same as follows:—
Lands and tenements occupied as owner;
Lands and tenements let, with the rent and annual value thereof estimated separately;
Rateable valuations of such land and tenements;
The amount of any tithe rent charge paid in the preceding year in respect of the above lands and tenements;
The amount of each deduction claimed in respect thereof.
The amount of the profits or gains thereof arising within the preceding year.
The full amount of the profits or gains arising therefrom within the preceding year.
IV.—By Every Person Entitled to or Receiving Income from Securities or Possessions out of the State to be Charged Under Schedule D.
(1) The full amount arising within the preceding year, and the amount of every deduction or allowance claimed in respect thereof, together with the particulars of such deduction and the grounds for claiming such allowance; or
(2) In the case of any such person who satisfies the Revenue Commissioners that he is not domiciled in the State, or that being a citizen of Ireland he is not ordinarily resident in the State, or in the case of income arising from such securities and possessions aforesaid which form part of the investments of the foreign life assurance fund of an assurance company the full amount of the actual sums received in the State from remittances payable in the State or from property imported, or from money or value arising from property not imported, or from money or value so received on credit or on account in respect of such remittances, property, money or value brought into the State in the preceding year without any deduction or abatement.
V.—By Every Person Entitled to any Annual Profits or Gains Not Falling Under Any of the Foregoing Rules, and Not Charged by any of the Other Schedules, to be Charged Under Schedule D.
The full amount thereof received annually, or according to the average directed to be taken by the inspector on a statement of the nature of such profits or gains and the grounds on which the amount has been computed, and the average taken, to the best of the knowledge and belief of such person.
VI.—Statement of Profits of any Public Office, or Employment of Profit, to be Charged Under Schedule E.
The amount of the salary, fees, wages, perquisites, and profits of the year of assessment or of the preceding year, as the case shall require.
VII.—General Declaration by Each Person Returning a Statement of Profits or Gains to be Charged Under Schedules A, B, D, or E.
Declaring the truth thereof, and that the same is fully stated on every description of property, or profits or gains, included in the Act relating to the said tax, and appertaining to such person, estimated to the best of his judgment and belief, according to the provisions of this Act.
VIII.—Lists and Declarations for Facilitating the Execution of the Act in Relation to the Tax Chargeable on Others.
First. List containing the name of every lodger or inmate resident in any dwelling-house, with the ordinary place of residence of every lodger or inmate who has any ordinary place of residence elsewhere at which he can be, and is desirous of being, assessed.
Second. List containing the name and place of residence of every person in any service or employ, and the payments made to every such person in respect of the service or employment.
Third. List to be delivered by every person chargeable on behalf of another person, and by any person whomsoever who, in whatever capacity, is in receipt of any money or value, or of profits or gains, of or belonging to any other person, describing the person for whom he acts, and stating his name and address, and the amount of such money, value, profits or gains, and declaring whether such person is of full age, or a married woman living with her husband, or a married woman whose husband is not accountable for the payment of any tax charged on her, or is resident in the State, or is an incapacitated person. The person delivering such list shall also deliver a list containing the names and addresses of any other person or persons acting jointly with him.
Fourth. Declaration on whom the tax is chargeable in respect of any such money, value, profits or gains.
Fifth. List containing the proper description of every body of persons, or trust, for which any person is answerable under this Act; and where any such person is answerable under this Act for the tax to be charged in respect of the property or profits or gains of other persons, he shall deliver such lists as aforesaid, together with the required statements of such profits or gains.
First. Declaration of the amount of value of property or profits or gains returned, or for which the claimant has been, or is liable to be, assessed.
Second. Declaration of the amount of rents, interests, annuities, or other annual payments, in respect of which the claimant is liable to allow the tax, with the names of the respective persons by whom such payments are to be made, distinguishing the amount of each payment.
Third. Declaration of the amount of interest, annuities, or other annual payments to be made out of the property or profits or gains assessed on the claimant, distinguishing each source.
Fourth. Statement of the amount of income derived according to the three preceding declarations.
Fifth. Statement of any tax which the claimant may be entitled to deduct, retain or charge against any other person.
SCHEDULE 19 Enactments Repealed
PART I
British Statutes
| Session and Chapter | Short title | Extent of repeal |
|---|---|---|
| 53 & 54 Vict. c. 21. | Inland Revenue Regulation Act, 1890. | Section 8. |
| 5 & 6 Geo. 5 c. 89. | Finance (No. 2) Act, 1915. | Section 47, so far as it relates to income tax or sur-tax. |
| 6 & 7 Geo. 5 c. 24. | Finance Act, 1916. | Section 63, so far as it relates to income tax or sur-tax. |
| 8 & 9 Geo. 5 c. 40. | Income Tax Act, 1918. | The whole Act. |
| 9 & 10 Geo. 5 c. 32. | Finance Act, 1919. | Part II. |
| 10 & 11 Geo. 5 c. 18. | Finance Act, 1920. | Part II. Section 61, so far as it relates to income tax. Schedule 3. |
| 11 & 12 Geo. 5 c. 32. | Finance Act, 1921. | Part II. |
| 12 & 13 Geo. 5 c. 17. | Finance Act, 1922. | Part II. Schedule 1. |
PART II
Acts of the Oireachtas of Saorstát Éireann and of the Oireachtas
| Number and year | Short title | Extent of repeal |
|---|---|---|
| No. 8 of 1923. | Double Taxation (Relief) Act, 1923. | The whole Act, so far as it relates to income tax or sur-tax. |
| No. 21 of 1923. | Finance Act, 1923. | Sections 1 to 12. Section 21 (1), so far as it relates to income tax or sur-tax. |
| No. 32 of 1923. | Finance (No. 2) Act, 1923. | The whole Act. |
| No. 27 of 1924. | Finance Act, 1924. | Part I. Sections 37, 38, 39 and 42, so far as they relate to income tax or sur-tax. Schedule 1. |
| No. 28 of 1925. | Finance Act, 1925. | Part I. |
| No. 35 of 1926. | Finance Act, 1926. | Part I. Section 39, so far as it relates to income tax or sur-tax. Schedule 1. |
| No. 18 of 1927. | Finance Act, 1927. | Part I. |
| No. 11 of 1928. | Finance Act, 1928. | Part I. Section 32, so far as it relates to income tax or sur-tax. Schedule 1. |
| No. 32 of 1929. | Finance Act, 1929. | Parts I and II. Section 37, so far as it relates to income tax or sur-tax. Schedules 1, 2 and 3. |
| No. 20 of 1930. | Finance Act, 1930. | Part I. |
| No. 31 of 1931. | Finance Act, 1931. | Part I. |
| No. 41 of 1931. | Finance (Increase of Income Tax) Act, 1931.. | The whole Act. |
| No. 20 of 1932. | Finance Act, 1932. | Part I. |
| No. 15 of 1933. | Finance Act, 1933. | Part I. |
| No. 31 of 1934. | Finance Act, 1934. | Part I. Section 35 (2), so far as it relates to income tax or sur-tax. |
| No. 28 of 1935. | Finance Act, 1935. | Part I. |
| No. 31 of 1936. | Finance Act, 1936. | Part I. |
| No. 18 of 1937. | Finance Act, 1937. | Part I. |
| No. 25 of 1938. | Finance Act, 1938. | Parts I and II. |
| No. 18 of 1939. | Finance Act, 1939. | Part I. |
| No. 33 of 1939. | Finance (No. 2) Act, 1939. | Part I. |
| No. 14 of 1940. | Finance Act, 1940. | Part I. Section 28, so far as it relates to income tax or sur-tax. |
| No. 14 of 1941. | Finance Act, 1941. | Parts I and II. |
| No. 14 of 1942. | Finance Act, 1942. | Part I. Section 23 (4). |
| No. 16 of 1943. | Finance Act, 1943. | Sections 1 to 6. Sections 7 and 18, so far as they relate to income tax or sur-tax. |
| No. 18 of 1944. | Finance Act, 1944. | Part I. Schedule. |
| No. 20 of 1945. | Finance Act, 1945. | Part I. |
| No. 15 of 1946. | Finance Act, 1946. | Part I. |
| No. 15 of 1947. | Finance Act, 1947. | Part I. |
| No. 33 of 1947. | Finance (No. 2) Act, 1947. | Part I. |
| No. 12 of 1948. | Finance Act, 1948. | Part I. Schedule 1. |
| No. 13 of 1949. | Finance Act, 1949. | Part I. Section 30, so far as it relates to income tax or sur-tax. |
| No. 18 of 1950. | Finance Act, 1950. | Parts I and V. Schedule 2. |
| No. 15 of 1951. | Finance Act, 1951. | Parts I and IV. |
| No. 14 of 1952. | Finance Act, 1952. | Part I. |
| No. 21 of 1953. | Finance Act, 1953. | Part I. Part IV, so far as it relates to income tax or sur-tax. |
| No. 22 of 1954. | Finance Act, 1954. | Part I. |
| No. 13 of 1955. | Finance Act, 1955. | Parts I and IV. Schedule 2. |
| No. 8 of 1956. | Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956. | Sections 3, 4, 5, 7, 8, 9 (1). Sections 11 and 12, so far as they relate to income tax. |
| No. 22 of 1956. | Finance Act, 1956. | Part I. Sections 23 to 26. Section 34, so far as it relates to income tax or sur-tax. |
| No. 47 of 1956. | Finance (Miscellaneous Provisions) Act, 1956. | Section 3. Parts II and III, so far as they relate to income tax. Sections 16 to 19. |
| No. 20 of 1957. | Finance Act, 1957. | Part I. Sections 17 to 21. Section 27, so far as it relates to income tax or sur-tax. |
| No. 25 of 1958. | Finance Act, 1958. | Parts I, IV, V and VI. Sections 44 and 50. Parts VIII and IX, so far as they relate to income tax or sur-tax. Schedule 1. Schedule 2. Schedule 3, so far as it relates to income tax or sur-tax. |
| No. 28 of 1958. | Finance (Miscellaneous Provisions) Act, 1958. | Part II, so far as it relates to income tax. |
| No. 18 of 1959. | Finance Act, 1959. | PART I and IV. Sections 24 to 68 and Part VI, so far as they relate to income tax or sur-tax. Schedules 1 and 2. |
| No. 42 of 1959. | Finance (No. 2) Act, 1959. | Sections 3 to 17. |
| No. 19 of 1960. | Finance Act, 1960. | Part I. Part IV, so far as it relates to income tax. Section 34. Section 40, so far as it relates to income tax. Section 41, so far as it relates to income tax or sur-tax. Schedule 3. |
| No. 23 of 1961. | Finance Act, 1961. | Part I. Section 38, so far as it relates to income tax. |
| No. 15 of 1962. | Finance Act, 1962. | Part I. Sections 11, 12, 13 (except subsection (10)) and 14, so far as they relate to income tax or sur-tax. |
| No. 23 of 1963. | Finance Act, 1963. | Part I. Parts VII and VIII, so far as they relate to income tax or sur-tax. Part IX. Section 98, so far as it relates to income tax. Sections 99 to 102, so far as they relate to income tax or sur-tax. Schedule 3. Schedule 5, so far as it relates to income tax or sur-tax. |
| No. 15 of 1964. | Finance Act, 1964. | Part I. Sections 30 to 32, so far as they relate to income tax or sur-tax. Schedule 1. |
| No. 4 of 1965. | Central Fund Act, 1965. | Section 4 (2) so far as it relates to income tax or sur-tax. |
| No. 22 of 1965. | Finance Act, 1965. | Parts I, VII, VIII and IX. Sections 62, 64 and 65, so far as they relate to income tax or sur-tax. |
| No. 17 of 1966. | Finance Act, 1966. | Part I. Sections 28 and 29 so far as they relate to income tax or sur-tax. Schedule 1. |
This document does not substitute the official text published in the Irish Statute Book. We accept no responsibility for any inaccuracies arising from the transcription of the original into this format.
This text is published under Irish Statute Book's own terms of reuse, not a Legalize or public-domain licence.
Irish Statute Book
CC-BY 4.0 (Oireachtas Open Data PSI Licence)
Contains Irish Public Sector Information licensed under the Oireachtas (Houses of the Oireachtas) Open Data PSI Licence / Creative Commons Attribution 4.0 International, sourced from https://www.irishstatutebook.ie.