FINANCE ACT, 1973

• (b) the manufacture, or anything used in the manufacture, of such cigarettes.

• (2) Section 10 of the Manufactured Tobacco Act, 1863, shall apply to cigarettes to which subsection (1) of this section applies upon, but not before, their exportation from the State but shall otherwise apply to manufactured tobacco as if subsection (1) of this section had not been enacted.

52 Confirmation of Orders.

52.—The Orders mentioned in the Table to this section are hereby confirmed.

TABLE

Imposition of Duties (No. 199) (Excise Duties) (Firearm Certificates) Order, 1972

Imposition of Duties (No. 200) (Customs and Excise Duties and Form of Tariff) Order, 1972

Imposition of Duties (No. 201) (Customs Duties and Form of Customs Tariff) Order, 1973

Imposition of Duties (No. 202) (Customs and Excise Duties and Form of Tariff) (Amendment) Order, 1973

Imposition of Duties (No. 203) (Customs Duties and Form of Customs Tariff) Order, 1973

Imposition of Duties (No. 204) (Customs Duties and Form of Customs Tariff) Order, 1973

Imposition of Duties (No. 205) (Beer, Spirits, Tobacco, Hydrocarbon Oils and Wine) Order, 1973.

PART III Death Duties

53 Alteration of rates of estate duty.

53.—In the case of persons dying on or after the 16th day of May, 1973, the scale of rates set out in the Eighth Schedule to this Act shall be, and shall have effect as, the scale of rates of estate duty in lieu of the scale set out in the Second Schedule to the Finance Act, 1972, and appropriate repayments shall be made accordingly.

54 Provisions consequential on alteration of rates of estate duty.

54.—(1) Section 26 (1) of the Finance Act, 1961, is hereby amended by the substitution of “ten thousand pounds” for “seven thousand five hundred pounds” (inserted by the Finance Act, 1972).

• (2) Section 29 of the Finance Act, 1931, is hereby amended by the substitution of “ten thousand pounds” for “seven thousand five hundred pounds” (inserted by the Finance Act, 1972).

• (3) Where the net value of the property, real and personal, passing on the death of the deceased, exclusive of property settled otherwise than by the will of the deceased exceeds ten thousand pounds, the amount of legacy and succession duty payable in respect of the property shall not exceed the amount by which the net value of such property, after deduction of the amount of estate duty referable thereto, exceeds ten thousand pounds.

• (4) This section shall have effect only in relation to persons dying on or after the 16th day of May, 1973, and appropriate repayments shall be made accordingly.

55 Amendment of rates of legacy duty and succession duty.

55.—(1) Any legacy or succession duty which under the existing law is payable at the rate of five per cent. shall be payable at the rate of ten per cent. and any legacy or succession duty which under the existing law is payable at the rate of ten per cent. shall be payable at the rate of twenty per cent. on the amount or value of the legacy or succession.

• (2) This section shall not take effect, in the case of legacy duty, where the testator by whose will the legacy is given or the intestate on whose death the legacy duty is payable died before the 16th day of May, 1973, and, in the case of succession duty, where the succession was conferred before that date.

56 Abatement of estate duty.

56.—(1) Section 45 of the Finance Act, 1969, is hereby amended by the substitution of “£4,000” for “£2,000” (inserted by the Finance Act, 1972) and “£2,000” for “£1,000” (inserted by the said Finance Act, 1972) in each place where they respectively occur in subsections (2), (3), (4) and (5).

• (2) This section shall have effect only in relation to benefits (within the meaning of the said section 45) accruing on or after the 16th day of May, 1973, and appropriate repayments shall be made accordingly.

57 Amendment of section 61 of Finance (1909-10) Act, 1910.

57.—(1) Section 61(1) of the Finance (1909-10) Act, 1910, is hereby amended by the substitution of “£3,000” for “£2,000” (inserted by the Finance Act, 1969).

• (2) This section shall have effect only in relation to persons dying on or after the 16th day of May, 1973, and appropriate repayments shall be made accordingly.

58 Amendment of section 24 of Finance Act, 1965.

58.—(1) Section 24 of the Finance Act, 1965, is hereby amended—

• (a) by the substitution in subsection (1) of the following paragraph for paragraph (d):

• “(d) The aggregate value of all death benefits payable on a death shall be reduced for estate duty purposes by £7,500 or the said aggregate value, whichever is the lesser.”,

• (b) by the deletion in subsection (1) (f) of the definition of “dependent child”

• (c) by the deletion in subsection 2 (a) of “, to or for the benefit of the widow or dependent children of the deceased”, and

• (d) by the deletion in subsection 2 (b) of “, ‘dependent children’”.

• (2) This section shall have effect only in relation to the death of a person dying on or after the 16th day of May, 1973, and appropriate repayments shall be made accordingly.

59 Relief for certain moneys payable under policies of assurance.

59.—(1) Where the property passing or deemed to pass on the death of the deceased includes policy moneys, the principal value of such policy moneys for estate duty purposes shall be reduced by £7,500 or the said principal value, whichever is the lesser.

• (2) In this section—

“policy moneys” means the total amount of the moneys (other than a return of premiums) payable under a policy or policies of assurance effected by the deceased on his own life and payable on his death where—

• (a) the consideration for the policy was a premium payable yearly, half-yearly, quarterly or monthly for a period depending on the life of the deceased, and

• (b) the total amount of the premiums paid in any period of twelve months did not exceed twenty per cent. of the moneys payable at death,

but also includes moneys payable on the death of the deceased under a policy of insurance issued subject to the condition that the benefits secured by the policy should be payable only if the death of the deceased occurred as the result of an accident.

• (3) This section shall have effect only in relation to the death of a person dying domiciled in the State on or after the 16th day of May, 1973, and appropriate repayments shall be made accordingly.

60 Exemption from duty of certain unit trusts.

60.—(1) In this section—

“securities” means securities (including debenture stock, mortgage bonds and mortgage stock and certificates of charge under the Agricultural Credit Acts, 1927 to 1972) issued, whether before or after the passing of this Act, with a condition that they be exempt from taxation when in the beneficial ownership of persons neither domiciled nor ordinarily resident in the State;

“unit trust scheme” means a unit trust scheme registered in the register established by the Unit Trusts Act, 1972, whose deed expressing the trusts of the scheme, restricts the property subject to those trusts to securities.

• (2) Units (within the meaning of the said Unit Trusts Act, 1972) of a unit trust scheme shall be exempt from death duties in connection with the death of any person dying after the passing of this Act who was not domiciled or ordinarily resident in the State at the time of his death and section 12 (2) of the Finance Act, 1951, section 34 (3) of the Finance Act, 1956, and section 39 of the Finance Act, 1970, shall apply to such units as if they were securities.

61 Amendment of section 33 of Finance Act, 1935.

61.—(1) Section 33 of the Finance Act, 1935, is hereby amended by the substitution for subsection (6) of the following subsection:

• “(6) In this section—

‘banker’ means a person who carries on banking business in the State and includes a friendly society, an industrial and provident society, a building society, the Post Office Savings Bank, a trustee savings bank, the Industrial Credit Company, Limited, the Agricultural Credit Corporation Limited, and any person with whom money is lodged or deposited;

‘pay’ includes transfer in the books of a banker and any dealings whatsoever with any moneys which were lodged or deposited in the name of a person who died after the time of the lodgment or deposit and any other person or persons;

‘current account’ means an account which is customarily operated on by means of a cheque or banker's order;

‘banking business’ has the same meaning as in section 2 of the Central Bank Act, 1971;

references to moneys lodged or deposited include references to shares of a building society, friendly society or industrial and provident society.”

• (2) This section shall have effect in relation to the death of any person dying on or after the date of the passing of this Act.

PART IV Stamp Duties

Chapter I Miscellaneous

62 Commencement (Chapter 1).

62.—This Chapter shall come into operation on the 1st day of August, 1973, or the date of the passing of this Act, whichever is the later, and shall not have effect in relation to any instrument executed before such coming into operation.

63 Amendment of section 88 of Stamp Act, 1891

63.—Section 88 of the Stamp Act, 1891, is hereby amended by the substitution of the following subsection for subsection (2):

• “(2) As respects an instrument executed on or after the 1st day of June, 1973, or deemed by virtue of this subsection to be a new and separate instrument executed on or after the 1st day of June, 1973, where such total amount is unlimited, the security shall—

  • (a) if unstamped, or if stamped with ad valorem duty to cover an amount not exceeding £10,000, be available only for £10,000, and

  • (b) if stamped with ad valorem duty to cover an amount exceeding £10,000, be available for such amount only;

  but where any advance or loan is made in excess of £10,000 or such greater amount as may be covered by that duty, the security shall, for the purpose of stamp duty, be deemed to be a new and separate instrument, executed on the day on which the advance or loan is made”.

64 Amendment of First Schedule to Stamp Act, 1891.

64.—(1) The Heading set out in Part I of the Ninth Schedule to this Act is hereby substituted for the Heading “BOND, COVENANT, or INSTRUMENT of any kind whatsoever” in the First Schedule (as amended by the Finance Act, 1970), to the Stamp Act, 1891.

• (2)
• (a) The Heading set out in Part II of the said Ninth Schedule is hereby substituted for the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities” in the said First Schedule (as so amended).

• (b) The Heading in the said First Schedule inserted by paragraph (a) of this subsection shall, subject to the provisions of that Heading, be deemed to include any conveyance or transfer of any property other than stocks or marketable securities operating as a voluntary disposition inter vivos and any reference in that Heading to the amount or value of any consideration shall be construed in relation to duty chargeable on such conveyance or transfer as a reference to the value of the property.

• (3) The paragraph set out in Part III of the said Ninth Schedule is hereby substituted for paragraph (3) of the Heading “LEASE” in the said First Schedule (as so amended).

• (4) The Heading set out in Part IV of the said Ninth Schedule is hereby substituted for the Heading “MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable security otherwise specially charged with duty) and WARRANT OF ATTORNEY to confess and enter up judgment” in the said First Schedule (as so amended).

• (5) Subject to section 4 of the Stamp Act, 1891, any instrument which, by virtue of any of the preceding provisions of this section, is exempt from duty under any Heading in the said First Schedule mentioned in those provisions shall not be chargeable with duty under any other Heading in the said First Schedule.

65 Amendment of section 50 of Finance Act, 1969.

65.—Section 50 (2) of the Finance Act, 1969, is hereby amended by the substitution of “fifteen per cent.” for “ten per cent.”.

66 Revocation of Order.

66.—The Imposition of Duties (No. 206) (Stamp Duty on Certain Instruments) Order, 1973, is hereby revoked.

Chapter II Stamp Duty on Capital Companies

67 Interpretation (Chapter II).

67.—In this Chapter, save where the context otherwise requires—

“capital company” means—

• (a) a company incorporated with limited liability, or a limited partnership formed under the law of the State or a company or partnership which is incorporated or formed in any other Member State and which, under the law of that State, corresponds to any such company or partnership, or

• (b) any other company, firm, association or legal person the shares in whose capital or assets can be dealt in on a stock exchange, or

• (c) any other company, firm, association or legal person operating for profit whose members have the right to dispose of their shares to third parties without prior authorisation and are responsible for the debts of the company, firm, association or legal person only to the extent of their shares;

“Member State” means a Member State of the European Economic Community;

“operative date” means the 1st day of August, 1973, or the date of the passing of this Act, whichever is the later;

“registrar” means the registrar of companies within the meaning of the Companies Act, 1963;

“stamp duty” means the stamp duty imposed by section 68 of this Act;

“statement” means the statement required to be delivered under section 69 (1) of this Act;

“third country” means a State which is not a Member State;

“transaction” means a transaction to which section 68 (1) of this Act applies;

a reference to stamp duty paid means stamp duty paid to the Revenue Commissioners.

68 Charge of stamp duty.

68.—(1) This section applies to the following transactions taking place on or after the operative date—

• (a) the formation of a capital company;

• (b) the conversion into a capital company of a company, firm, association or legal person which is not a capital company;

• (c) an increase in the capital of a capital company by the contribution of assets of any kind other than an increase in capital through capitalisation of profits or of reserves, whether temporary or permanent reserves, but including the conversion of loan stock of a capital company into share capital;

• (d) an increase in the assets of a capital company by the contribution of assets of any kind in consideration, not of shares in the capital or assets of the company, but of rights of the same kind as those of members of the company such as voting rights, a share in the profits or a share in the surplus upon liquidation;

• (e) the transfer from a third country to the State of the effective centre of management of a capital company whose registered office is in a third country;

• (f) the transfer from a third country to the State of the registered office of a capital company whose effective centre of management is in a third country;

• (g) the transfer from a Member State to the State of the effective centre of management of a capital company which is not considered to be a capital company in the other Member State;

• (h) the transfer from a Member State to the State of the registered office of a capital company whose effective centre of management is in a third country and which is not considered to be a capital company in the Member State from which the registered office is being transferred.

• (2) Where, at the date of a transaction, or as a result thereof—

• (a) the effective centre of management of the capital company is in the State, or,

• (b) if the effective centre of management of the capital company is in a third country, the registered office of the capital company is in the State,

there shall be charged on the statement required to be delivered pursuant to this Chapter a stamp duty (in this Chapter referred to as stamp duty) and the Stamp Act, 1891, shall, subject to the provisions of this Chapter, apply in relation to the said duty as if the said duty were imposed by that Act.

69 Statement to be charged with stamp duty.

69.—(1) Where any transaction takes place, a statement of the assets, liabilities and expenses referred to in section 70 of this Act shall be delivered to the registrar—

• (a) in the case of the formation of a capital company which is to be incorporated under the Companies Act, 1963, or formed under the Limited Partnerships Act, 1907, before the incorporation or registration thereof, and

• (b) in any other case, within 30 days after the date of the transaction,

and the statement shall be charged with stamp duty at the rate of £1 for every £100 or part of £100 of the amount determined in accordance with the said section 70;

Provided that in the case referred to in paragraph (a) of this subsection, the statement shall be charged with stamp duty of not less than £1:

Provided also that, in the case referred to in paragraph (a) of this subsection, if there is difficulty in ascertaining the exact amount in respect of which stamp duty is chargeable, the statement shall be charged in the first instance with stamp duty at the rate aforesaid in respect of such amount as the Revenue Commissioners consider appropriate and, if afterwards—

• (i) it is established that too little duty has been paid, the additional duty shall be payable and be treated as duty in arrear, and

• (ii) it is established that too much duty has been paid, the excess shall be repaid by the Revenue Commissioners with interest at the rate of 9 per cent. per annum.

• (2) In the case of neglect to deliver within 30 days after the date of a transaction the statement required under subsection (1) of this section to be so delivered, the capital company concerned shall be liable to pay to the Revenue Commissioners interest at the rate of one pound per cent. upon the amount of duty chargeable and a like sum for every month after the first month during which the neglect shall continue.

• (3) Interest on the additional duty payable under subsection (1) (i) of this section shall be charged at the rate of 9 per cent. per annum from the date of the transaction which gave rise to the charge for duty until the date of payment of the duty.

• (4) Save in the case of the capital companies specified in section 73 of this Act, the registrar shall not incorporate a capital company which is to be incorporated under the Companies Act, 1963, or register a capital company which is to be formed under the Limited Partnerships Act, 1907, until the statement referred to in subsection (1) of this section in relation to the company is stamped.

70 Amount on which stamp duty chargeable.

70.—Stamp duty shall be charged—

• (a) in the case of a transaction specified in paragraph (a), (c) or (d) of section 68 (1) of this Act, in respect of the amount of the actual value, at the date of the transaction, of the assets of any kind contributed or to be contributed in

connection with the transaction by the members of the capital company concerned after the deduction of the liabilities attaching to such assets and assumed by the capital company and of the expenses incurred by the capital company in connection with such contribution;

• (b) in the case of a transaction specified in paragraph (b), (e), (f), (g) or (h) of section 68 (1) of this Act, in respect of the amount of the actual value, at the date of the transaction, of the assets of any kind of the capital company concerned after the deduction of its liabilities on that date and of the expenses incurred by the company in connection with the transaction:

Provided that, in any case, the amount in respect of which stamp duty is charged shall not be less than the actual value or the nominal value (whichever is the greater) of the shares (if any) in the company concerned allotted to the members of the capital company in connection with the transaction or belonging to the members of the capital company immediately after the transaction:

Provided also that, in arriving at the amount of the actual value in respect of which the duty is charged, there shall be excluded the amount of any assets aforesaid contributed in connection with the transaction by a member with unlimited liability or the share of such a member in the assets of the company.

71 Abolition of certain stamp duty and relief in respect of certain payments of stamp duty.

71.—(1) (a) In the case of any transaction specified in section 68 (1) of this Act which took place on or after the 1st day of January, 1973, stamp duty shall not be chargeable, under section 8 of the Finance Act, 1899, on any statement of the amount proposed to be secured by an issue of loan capital (within the meaning of that section) or under a provision to which this subsection applies, on any instrument, and, in any case where such duty has been paid since the 1st day of January, 1973, in respect of any such transaction the duty so paid shall, on the application of the person who paid the duty, be repaid to that person.

• (b) In this subsection “provision to which this subsection applies” means any provision made by or under statute which charges any trust deed or other document securing loan capital (within the meaning of the said section 8) with the stamp duty payable in respect of a mortgage or marketable security.

• (2) In the case of any transaction stamp duty shall not be chargeable on any statement under—

• (a) section 112 or 113 of the Stamp Act, 1891, in respect of the nominal share capital of a limited company, or

• (b) section 11 of the Limited Partnerships Act, 1907, in respect of amounts contributed by limited partners.

• (3) In the case of any transaction specified in section 68 (1) which took place or takes place on or after the 1st day of January, 1973, and before the operative date (in this subsection referred to as the relevant period), and in respect of which statements were required to be delivered under either of the acts referred to in subsection (2) of this section and the stamp duty chargeable thereon has been paid, the company that paid the duty may, at any time before the 1st day of August, 1975, deliver statements of the kind specified in section 69 (1) of this Act in respect of all transactions which took place during the relevant period in relation to the capital company and stamp duty shall be charged thereon as if the 1st day of January, 1973, were substituted for the operative date in section 68 of this Act and, if the stamp duty previously paid exceeds the amount of stamp duty charged on the statement, the amount of the excess shall be repaid to the capital company.

• (4) Where, under the provisions of sections 112 or 113 of the Stamp Act, 1891, stamp duty has already been paid in respect of the nominal share capital of any capital company and stamp duty again becomes payable under this Chapter by the capital company in respect of any part of that capital that was not issued on the operative date, there shall be allowed, as a deduction against stamp duty, so much of the stamp duty already paid as bears the same proportion to the total stamp duty already paid as the increase in the issued share capital (in so far as it represents the said share capital which was not issued) bears to the nominal share capital in respect of which the stamp duty has already been paid, and, for the purpose of this section, the nominal share capital in respect of which stamp duty has already been paid shall, in any case where there was a reduction in nominal share capital by way of relief under section 21 of the Finance Act, 1965, be deemed to be such share capital as would have been chargeable to duty if there had been no such reduction.

• (5) Where, on the operative date, there is included in the share capital of a capital company referred to in subsection (4) of this section shares which are not fully paid up, the total amount remaining to be paid up on those shares at that date shall be treated, for the purposes of that subsection, as nominal share capital which was not issued at that date.

• (6) The statement required to be delivered pursuant to this Chapter in respect of a transaction specified in section 68 (1) (c) of this Act shall, in any case where, within the period of four years immediately before the date of the transaction and on or after the operative date, there has been a reduction in the issued capital of the capital company concerned as a result of losses sustained by the company, be charged at the rate of zero per cent. in respect of so much of the amount determined in accordance with section 70 of this Act as corresponds to the reduction in issued capital or to so much of the reduction in issued capital to which the rate of zero per cent. had not been applied in respect of an earlier transaction occurring since the reduction in capital.

72 Reconstructions or amalgamations of capital companies.

72.—(1) If, in the case of a transaction, a capital company or a capital company which is in the process of being formed (in this section referred to as the transferee company) acquires either—

• (a) the undertaking or part of the undertaking of another capital company (in this section referred to as the transferor company), or

• (b) share capital of another capital company to an extent that, after that transaction, but not necessarily as a result of that transaction, the transferee company owns at least 75 per cent. of the issued share capital of that other company (in this section referred to as the transferor company),

then, subject to the provisions of this section, stamp duty on the statement delivered in accordance with section 69 (1) shall be charged at the rate of zero per cent. (in this section referred to as the reduced rate):

Provided that, where the percentage referred to in paragraph (b) of this subsection is reached by means of two or more transactions, the reduced rate shall apply only to the transaction whereby this percentage is achieved and to any transaction subsequent to the achievement and retention of that percentage.

• (2) Subsection (1) of this section shall apply only where the consideration for the acquisition (except such part thereof as consists of the transfer to or discharge by the transferee company of liabilities of the transferor company) consists—,

• (a) where the undertaking or part of the undertaking of the transferor company is acquired, of the issue of shares in the transferee company to the transferor company or to holders of shares in the transferor company; or

• (b) where shares of the transferor company are acquired, of the issue of shares in the transferee company to the holders of shares in the transferor company in exchange for shares held by them in the transferor company,

with or without a payment in cash, provided that the payment in cash does not exceed 10 per cent. of the nominal value of the shares in the transferee company which are comprised in the consideration.

• (3) The statement, which by virtue of this section is charged at the reduced rate, shall become chargeable with stamp duty at the rate specified in section 69 of this Act if the transferee company does not retain, for a period of five years from the date of the transaction in respect of which stamp duty at the reduced rate was charged, at least 75 per cent. of the issued share capital of the other company and all the shares which it held following that transaction, including the shares acquired whether by way of a transaction or otherwise before that transaction and held at the time thereof:

Provided, however, that the reduced rate shall continue to apply if the transfer, as a result of which the shares in question were not held for a period of five years, was either—

• (a) a transfer forming part of a transaction which would of itself qualify for the reduced rate pursuant to subsection (1) of this section, or

• (b) a transfer in the course of the liquidation of the transferee company.

• (4) Where, by reason of subsection (3) of this section, stamp duty becomes chargeable at the rate specified in section 69 of this Act when the transferee company concerned within a period of five years from the date of any transaction in respect of which stamp duty was charged at the reduced rate—

• (a) ceases to retain at least 75 per cent. of the issued share capital of the transferor company concerned, or

• (b) disposes of any of the shares of the said transferor company which it held after the transaction to which the reduced rate was applied,

then the statement which was delivered to the registrar pursuant to section 69 (1) of this Act in relation to the transaction in respect of which stamp duty was charged at the reduced rate shall be charged

with stamp duty at the rate which would have been charged in the first instance if subsection (1) of this section had not applied to the transaction and the statement thus charged shall have applied to it the provisions of this Chapter save that, for the purposes of subsections (2) and (3) of section 69 of this Act, the date of the transaction shall be the date on which the event specified in paragraph (a) or (b), as the case may be, of this subsection occurred.

• (5) This section shall apply only where the effective centre of management or the registered office of the transferor company concerned is in a Member State.

73 Exemption for certain companies.

73.—Stamp duty shall not be charged in the case of a transaction that is effected by—

• (a) a capital company which is formed for the purpose of and carries on exclusively the business of supplying a public service such as public transport or port facilities, or supplying water, gas or electricity, and not less than fifty per cent. of the issued capital of which is owned by the State or a local authority, or

• (b) a capital company whose objects are exclusively cultural, charitable or educational:

Provided that the statement which is required to be delivered in pursuance of section 69 (1) of this Act in relation to such transaction shall not be deemed to be duly stamped unless it has, in accordance with the provisions of section 12 of the Stamp Act, 1891, been stamped with a particular stamp denoting that it is not chargeable with stamp duty.

74 Appeals in certain cases.

74.—A person who is dissatisfied with a decision of the Revenue Commissioners under this Chapter on the amount of the actual value of any assets referred to in section 70 of this Act may—

• (a) in the case of stocks, shares or other securities which are not dealt in on a stock exchange, appeal to the Appeal Commissioners (within the meaning of section 33 of the Finance Act, 1972) against the decision and the said section 33 shall, with any necessary modifications, apply to an appeal under this paragraph as if the appeal were an appeal under that section,

• (b) in the case of land, appeal against the decision in the manner prescribed by section 33 of the Finance (1909-10) Act, 1910; and so much of Part I of that Act as relates to appeals shall, with any necessary modifications, apply to an appeal under this paragraph as if the appeal were an appeal under that section.

75 Recovery of stamp duty and furnishing of information.

75.—(1) Stamp duty and the interest thereon shall be recoverable from the capital company concerned and, in any case where the capital company is not a body corporate, shall be recoverable from the members of the capital company jointly and severally.

• (2) All statements used for the purpose of this Chapter shall be in such form and contain such particulars as may be required by the Revenue Commissioners and every person accountable for stamp duty shall, if so required by the Revenue Commissioners, verify such particulars and deliver to them such evidence as they may require relating to any transaction or to any company concerned in any such transaction.

PART V Value-Added Tax

76 Commencement (Part V).

76.—This Part (other than section 90, in so far as it amends the definition of “manufacturer” in section 1 (1) of the Principal Act) shall come into operation on the 3rd day of September, 1973.

77 “Principal Act”.

77.—In this Part “the Principal Act” means the Value-Added Tax Act, 1972.

78 Amendment of section 3 of Principal Act.

78.—Section 3 of the Principal Act is hereby amended by the insertion of the following subsection after subsection (1):

• “(1A) Where—

  • (a) goods of a kind specified in paragraph (xii) of the Second Schedule are supplied in a form suitable for human consumption without further preparation,

  • (b) the supply is made—

    • (i) by means of a vending machine, or

    • (ii) in the course of operating a hotel, restaurant, cafe, refreshment house, canteen, establishment licensed for the sale of intoxicating liquor, catering business or similar business, or

    • (iii) in the course of operating any other business in connection with the carrying on of which facilities are provided for the consumption of the goods supplied, and

  • (c) apart from this subsection, the supply would constitute a delivery of the goods,

  the supply shall, for all the purposes of this Act, be deemed to be a rendering of services and not a delivery of goods.”.

79 Amendment of section 5 of Principal Act.

79.—Section 5 of the Principal Act is hereby amended—

• (a) by the substitution for subsection (2) of the following subsection :

• “(2)

  • (a) Services, whether or not rendered for a consideration or for a separate consideration, which, apart from this subsection, would not be regarded as rendered by a person in the course of business, shall, subject to and to the extent provided by regulations, be regarded as rendered by him in the course of business if they are connected with any business activity in which he engages.

  • (b) For the purposes of this subsection and section 32, services shall be regarded as connected with a business activity in which a person engages if he provides facilities for, or contributes in whole or part towards the cost of, rendering them.”, and

• (b) by the insertion in subsection (5) after paragraph (b) of the following paragraph :

• “(c) This subsection shall not apply to a supply of goods of a kind specified in paragraph (xii) of the Second Schedule.”.

80 Amendment of section 11 of Principal Act.

80.—Section 11 of the Principal Act is hereby amended—

• (a) by the substitution of the following paragraphs for paragraphs (a) and (b) of subsection (1) :

• “(a) 6.75 per cent. of the appropriate amount of any consideration, other than consideration to which paragraph (b) applies, which relates to the delivery of goods of a kind specified in Part I of the Third Schedule or the rendering of services of a kind specified in Part II of that Schedule,

• (b) 11.11 per cent. of the appropriate amount of any consideration which relates to the promotion of dances and the delivery (if any) of goods of a kind specified in paragraphs (vi) to (viii) and (xii) to (xv) of the Second Schedule or in Part I of the Third Schedule and the rendering (if any) of services which, but for this paragraph, would be chargeable at the rate specified in paragraph (a) delivered or rendered in connection with dances, where payment of the consideration for such delivery or rendering is included in the consideration in respect of admission to the dance or is a condition of admission,”,

• (b) by the substitution in subsection (1) (c) of “36.75” for “30.26”,

• (c) by the substitution in subsection (1) (e) of “19.50” for “16.37”,

• (d) by the insertion of the following subsections after subsection (1):

• “(1A)

  • (a) The rate at which tax shall be chargeable shall, in relation to tax chargeable under section 2 (1) (a), be the rate for the time being in force at the time at which the tax becomes due in accordance with subsection (1) or (2), as may be appropriate, of section 19.

  • (b) Goods or services which are specifically excluded from any paragraph of a Schedule shall, unless the contrary intention is expressed, be regarded as excluded from every other paragraph of that Schedule, and shall not be regarded as specified in that Schedule.

• (1B)

  • (a) On receipt of an application in writing from an accountable person, the Revenue Commissioners shall, in accordance with regulations

  and after such consultation (if any) as may seem to them to be necessary with such person or body of persons as in their opinion may be of assistance to them, make a determination concerning—

  - (i) whether an activity of any particular kind carried on by the person is an exempted activity, or
  
  - (ii) the rate at which tax is chargeable in relation to the delivery by the person of goods of any kind, the delivery of goods in any particular circumstances or the rendering by the person of services of any kind.
  

  • (b) The Revenue Commissioners may, whenever they consider it expedient to do so, in accordance with regulations and after such consultation (if any) as may seem to them to be necessary with such person or body of persons as in their opinion may be of assistance to them, make a determination concerning—

    • (i) whether an activity of any particular kind is an exempted activity, or

    • (ii) the rate at which tax is chargeable in relation to the delivery of goods of any kind, the delivery of goods in any particular circumstances or the rendering of services of any kind.

  • (c) A determination under this subsection shall have effect for all the purposes of this Act, in relation to an accountable person who makes an application therefor, as on and from the date upon which particulars of the determination are communicated to him in accordance with paragraph (e) (i) and, in relation to any other person, as on and from the date of publication of the determination in the Iris Oifigiúil.

  • (d) The Revenue Commissioners shall not make a determination under this section concerning any matter which has been determined on

  appeal under this Act or which is for the time being governed by an order under section 6 (2) or 11 (8), and shall not be required to make such a determination in relation to any of the matters referred to in an application under paragraph (a) if—

  - (i) a previous determination has been published in regard to the matter, or
  
  - (ii) in their opinion the subject matter of the application is sufficiently free from doubt as not to warrant the making and publication of a determination.
  

  • (e) (i) A determination under paragraph (a) shall, as soon as may be after the making thereof, be communicated to the person who made the application therefor by the service on him by the Revenue Commissioners of a notice containing particulars of the determination.

    • (ii) A determination under paragraph (a) may and a determination under paragraph (b) shall be published in the Iris Oifigiúil and, in that event, it shall also be published in at least one daily newspaper published in the State.

  • (f) A person, aggrieved by a determination under paragraph (a) made pursuant to an application by him, may, on giving notice in writing to the Revenue Commissioners within the period of twenty-one days beginning on the date of service on him of notice of the determination in accordance with paragraph (e) (i), appeal to the Appeal Commissioners.

  • (g) Any accountable person who, in the course of business, delivers goods or renders services of a kind or in circumstances specified in a determination under paragraph (a) or (b) may, on giving notice in writing to the Revenue Commissioners within the period of twenty-one days beginning on the date of the publication of the determination in the Iris Oifigiúil, appeal to the Appeal Commissioners.”,

• (e) by the insertion of the following subsection after subsection (4):

• “(4A) Where—

  • (a) goods of a kind specified in paragraph (xii) of the Second Schedule are used by a person in the course of the rendering by him of taxable services, and

  • (b) the goods are supplied by the person to whom the services are rendered or by any other person other than the person by whom the services are rendered,

  the person who renders the taxable services shall be deemed to have supplied the goods so used in the course of business and shall be liable, in addition to any other liability imposed on him under this Act, to pay tax on the value of the goods so used at the rate specified in section 11 (1) (a).”, and

• (f) by the substitution of the following paragraph for paragraph (a) of subsection (8):

• “(a) The Minister may by order vary the Second or Third Schedules by adding to or deleting therefrom descriptions of goods or services of any kind or by varying any description of goods or services for the time being specified therein, and may, in like manner, vary the Fourth Schedule by deleting therefrom descriptions of goods of any kind or by varying any description of goods for the time being specified therein, but no order shall be made under this section for the purpose of increasing any of the rates of tax or extending the classes of activities or goods in respect of which tax is for the time being chargeable.”.

81 Amendment of section 12 of Principal Act.

81.—Section 12 of the Principal Act is hereby amended—

• (a) by the insertion of the following subsection after subsection (1)—

• “(1A)

  • (a) A person who, by election or in accordance with the provisions of section 8 (4) is deemed to become an accountable

  person, shall, in accordance with regulations, be entitled, in computing the amount of tax payable by him in respect of the first taxable period for which he is so deemed to be an accountable person, to treat as tax deductible under subsection (1) such part of the value of the stock-in-trade (within the meaning of section 34) held by him immediately before the commencement of that taxable period as could reasonably be regarded as the amount which he would be entitled to claim under the said subsection (1) if he had been an accountable person at the time of the delivery to him of such stock-in-trade.

  • (b) No claim shall lie under this subsection for a deduction for the tax relating to any stock-in-trade (within the meaning of section 34) if, and to the extent that, a deduction under subsection (1) could be claimed apart from this subsection.

  • (c) This subsection shall have effect in relation to taxable periods commencing on or after the 3rd day of September, 1973.”, and

• (b) by the deletion in subsection (1) of paragraph (e).

82 Amendment of section 19 of Principal Act.

82.—Section 19 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (3):

• “(3)

  • (a) Within nine days immediately after the tenth day of the month immediately following a taxable period, an accountable person shall furnish to the Collector-General a true and correct return prepared in accordance with regulations of the amount of tax which became due under section 2 (1) (a) by him during the taxable period and the amount, if any, which may be deducted in accordance with section 12 in computing the amount of tax payable by him in respect of such taxable period, and shall at the same time remit to the Collector-General the amount of tax, if any, payable by him in respect of such taxable period.

  • (b) Paragraph (a) shall be construed in relation to the taxable period commencing on the first day of July, 1973, as if the reference therein to nine days immediately after the tenth day of the month immediately following a taxable period were a reference to nine days immediately after the tenth day of the month in which the taxable period ends.”.

83 Amendment of section 26 of Principal Act.

83.—Section 26 of the Principal Act is hereby amended—

• (a) by the substitution in subsection (1) of “18 (2)” for “18”, and

• (b) by the insertion after subsection (3) of the following subsection:

• “(3A) A person who does not comply with section 18 (3) shall be liable to a penalty of £100.”.

84 Amendment of section 27 of Principal Act.

84.—Section 27 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (5):

• “(5) A person who fraudulently or negligently—

  • (a) issues an invoice in which an amount of tax is stated, in such circumstances that, apart from his liability under subsection (5) or (6) of section 17, the said amount does not represent the amount of tax (if any) which becomes due by him in respect of the transaction to which the invoice relates, or

  • (b) issues a credit note showing an amount of tax other than that properly applicable to the transaction to which the credit note relates,

  shall be liable to a penalty of—

  - (i) £100, and
  
  - (ii) the amount, or, in the case of fraud, twice the amount of his liability under the said subsection (5) or (6), as the case may be, in respect of the issue of any such invoice or credit note.”.
  

85 Amendment of section 32 of Principal Act.

85.—Section 32 (1) of the Principal Act is hereby amended by the insertion of the following paragraphs after paragraph (x):

• “(xx) the relief (if any) to be given to an accountable person in respect of tax borne or paid by him on stock-in-trade held by him immediately before the commencement of the first taxable period for which he is deemed to become an accountable person;

• (xxx) the manner in which a determination may be made for the purposes of section 11 (1B);”.

86 Amendment of section 35 of Principal Act.

86.—Section 35 of the Principal Act is hereby amended by the insertion after subsection (1) of the following subsection:

• “(1A)

  • (a) Where, after the making of an agreement for the delivery of goods or the rendering of services and before the date on which under subsection (1) or (2), as may be appropriate, of section 19 any tax in respect of the transaction would, if the proviso to the said subsection (1) were disregarded, fall due, there is a change in the amount of tax chargeable on the delivery or rendering in question, then, in the absence of agreement to the contrary, there shall be added to or deducted from the total amount of the consideration and any tax stated separately under the agreement an amount equal to the amount of the change in the tax chargeable.

  • (b) References in this subsection to a change in the amount of tax chargeable on the delivery of goods or the rendering of services include references to a change to or from a situation in which no tax is being charged on the delivery or rendering.”.

87 Amendment of First Schedule to Principal Act.

87.—The First Schedule to the Principal Act is hereby amended—

• (a) by the substitution for paragraph (ix) of the following paragraph:

• “(ix) services of a medical or educational nature rendered by hospitals, nursing homes, schools and similar establishments; and catering services rendered—

• (a) to patients of a hospital or nursing home in the hospital or nursing home, and

• (b) to students of a school in the school;” and

• (b) by the insertion after paragraph (xxiii) of the following paragraphs:

• “(xxiv) delivery of live horses;

• (xxv) delivery of live greyhounds;

• (xxvi) the natural or artificial insemination of livestock.”.

88 Amendment of Second Schedule to Principal Act.

88.—The Second Schedule to the Principal Act is hereby amended—

• (a) by the substitution of the following paragraph for paragraph (vii):

• “(vii) animal feeding stuff, excluding feeding stuff which is packaged, sold or otherwise designated for the use of dogs, cats, cage birds or domestic pets;”,

and

• (b) by the insertion of the following paragraphs after paragraph (x)

• “(xi) life saving services provided by the Royal National Lifeboat Institution including the organisation and maintenance of the lifeboat service;

• (xii) food and drink of a kind used for human consumption, excluding—

• (a) beverages chargeable with any duty of customs or excise specifically charged on spirits, beer, wine, cider, perry or Irish wine, and preparations thereof,

• (b) other manufactured beverages, including fruit juices and bottled waters, and syrups, concentrates, essences, powders, crystals or other products for the preparation of beverages, but not including—

  • (I) tea and preparations thereof,

  • (II) cocoa, coffee and chicory and other roasted coffee substitutes, and preparations and extracts thereof,

  • (III) preparations and extracts of meat, yeast, egg or milk,

• (c) ice cream, ice lollipops, water ices and similar frozen products, and prepared mixes and powders for making such products,

• (d) (I) chocolates, sweets and similar confectionery (including drained, glacé or crystallised fruits), biscuits, crackers and wafers of all kinds, and all confectionery and bakery products other than bread,

  • (II) for the purposes of this paragraph “bread” means food for human consumption manufactured by baking dough composed exclusively of a mixture of cereal flour and any one or more of the ingredients mentioned in the following subclauses in quantities not exceeding the limitation, if any, specified for each ingredient—

• (1) yeast or other leavening or aerating agent, salt, malt extract, milk, water, gluten,

• (2) fat, sugar and bread improver, subject to the limitation that the weight of any ingredient specified in this subclause shall not exceed 2 per cent. of the weight of flour included in the dough,

• (3) dried fruit, subject to the limitation that the weight thereof shall not exceed 10 per cent. of the weight of flour included in the dough,

other than food packaged for sale as a unit (not being a unit designated as containing only food specifically for babies) containing two or more slices, segments, sections or other similar pieces, having a crust over substantially the whole of their outside surfaces, being a crust formed in the course of baking or toasting,

- (*e*) any of the following when supplied for human consumption without further preparation, namely, potato crisps, potato sticks, potato chips, potato puffs and similar products made from potato, or from potato flour or from potato starch, popcorn, and salted or roasted nuts whether or not in shells;

    - (xiii) medicine of a kind used for human oral consumption;

    - (xiv) medicine of a kind used for animal oral consumption, excluding medicine which is packaged, sold or otherwise designated for the use of dogs, cats, cage birds or domestic pets;

    - (xv) seeds, plants, spores, bulbs, tubers, tuberous roots, corms, crowns and rhizomes, of a kind used for sowing in order to produce food;

    - (xvi) goods of different kinds which are packaged for sale as a unit (hereinafter in this paragraph referred to as the package) and in relation to which all the following conditions are satisfied—

- (*a*) the package consists of goods in relation to the delivery of some of which for a separate consideration tax would be chargeable at the rate specified in section 11 (1) (*d*), and in

  relation to the delivery of the remainder of which for a separate consideration, tax would be chargeable at the rate specified in section 11 (1) (*e*),

- (*b*) the consideration for delivery is referable to the package as a whole and not to the different kinds of goods included therein, and

- (*c*) the total tax-exclusive value of the goods included in the package, in relation to the delivery of which for a separate consideration tax would be chargeable at the rate specified in the said section 11 (1) (*e*), does not exceed 50 per cent. of the total tax-exclusive consideration for the package or 2½ new pence, whichever is the lesser.”.

89 Amendment of Third Schedule to Principal Act.

89.—The Third Schedule to the Principal Act is hereby amended—

• (a) by the substitution in Part I of the Schedule of the following paragraph for paragraph (i):

• “(i) Animal medicine excluding medicine—

• (a) of a kind specified in paragraph (xiv) of the Second Schedule, or

• (b) which is packaged, sold or otherwise designated for the use of dogs, cats, cage birds or domestic pets;”,

• (b) by the addition to Part I of the Schedule of the following paragraph:

• “(xxxii) goods of different kinds which are packaged for sale as a unit (hereinafter in this paragraph referred to as the package) and in relation to which all the following conditions are satisfied:

• (a) the package consists of goods in relation to the delivery of some of which for a separate consideration tax would be chargeable at the rate specified in section 11 (1) (a), and in relation to the delivery of the remainder of which for such a consideration, tax would be chargeable at any other rate or rates,

• (b) the consideration for delivery is referable to the package as a whole and not to the different kinds of goods included therein, and

• (c) the total tax-exclusive value of the goods included in the package, in relation to the delivery of which for a separate consideration or separate considerations tax would be chargeable at a rate or rates other than the rate specified in the said section 11 (1) (a), does not exceed 50 per cent. of the total tax-exclusive consideration for the package or 2½ new pence, whichever is the lesser,”, and

• (c) by the addition to Part II of the Schedule of the following paragraph:

• “(vii) the hiring to a person under a contract in writing, other than a contract of a kind referred to in section 3 (1) (b), entered into before the 24th day of October, 1972, of movable goods in the possession of the person on the 1st day of November, 1972, of a kind on the delivery of which, if paragraph (xxviii) of Part I of this Schedule were disregarded, tax would be chargeable at the rate specified in section 11 (1) (e).”.

90 Miscellaneous amendments of Principal Act.

90.—The Principal Act is hereby amended as specified in column (3) of the Tenth Schedule to this Act.

PART VI Miscellaneous

91 Capital Services Redemption Account.

91.—(1) In this section—

“the principal section” means section 22 of the Finance Act, 1950;

“the 1972 amending section” means section 40 of the Finance Act, 1972;

“the twenty-third additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;

“the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.

• (2) Subsection (4) of the 1972 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1974, have effect with the substitution of “£4,647,544” for “£4,650,815”.

• (3) Subsection (6) of the 1972 amending section shall have effect with the substitution of “£2,933,771” for “£2,993,830”.

• (4) A sum of £5,452,955 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of March, 1974.

• (5) The twenty-third additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.

• (6) Any amount of the twenty-third additional annuity, not exceeding £3,510,185 in any financial year, may be applied towards defraying the interest on the public debt.

• (7) The balance of the twenty-third additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.

92 Securities of certain European bodies.

92.—(1) This section applies to any stock or other form of security issued in the State by the European Coal and Steel Community, the European Atomic Energy Community or the European Investment Bank.

• (2) Any stock or other form of security to which this section applies shall be deemed—

• (a) to be a security issued under the authority of the Minister for Finance within the meaning of section 466 of the Income Tax Act, 1967, and

• (b) to be a security to which section 63 of the Finance Act, 1969, applies,

and those sections shall apply and have effect accordingly.

• (3) Section 34 of the Finance Act, 1956, is hereby amended by the addition to subsection (1) of “, or of section 92 of the Finance Act, 1973.”.

• (4) Section 474 of the Income Tax Act, 1967, is hereby amended by the addition to subsection (1) of “or section 92 of the Finance Act, 1973.”.

• (5) Any stock or other form of security to which this section applies shall be exempt from death duties in connection with the death of any person dying after the passing of this Act who was not domiciled or ordinarily resident in the State at the time of his death and section 39 of the Finance Act, 1970, shall apply to any such stock or other form of security.

• (6) The First Schedule (as amended by the Finance Act, 1970) to the Stamp Act, 1891, is hereby amended by the insertion in paragraph 1 of the Heading “GENERAL EXEMPTIONS FROM ALL STAMP DUTIES” after subparagraph (i) of the following paragraph :

“(ia) transfers of any stock or other form of security to which section 92 of the Finance Act, 1973, applies,”.

93 Amendment of Finance (Excise Duties) (Vehicles) Act, 1952.

93.—(1) The Finance (Excise Duties) (Vehicles) Act, 1952, shall, as respects licences under section 1 of that Act for periods beginning on or after the 1st day of June, 1973, be amended by the substitution in paragraph 1 (a) of Part I of the Schedule thereto of £2, £5, £8, £12 and £15 as the rates of duty in lieu of £1.50, £3, £4.50, £7.00 and £9.50

• (2) The Finance (Excise Duties) (Vehicles) Act, 1952, shall, as respects licences under section 1 of that Act for periods beginning on or after the 1st day of June, 1973, be amended by the substitution in Part I of the Schedule thereto of the following subparagraphs for subparagraphs (b), (c) and (d) of paragraph 4:

“(b) tractors (being tractors designed and constructed primarily for use otherwise than on roads and incapable by reason of their construction of exceeding a speed of 25 miles per hour on a levels road under their own power) and agricultural engines, not being tractors or engines used for hauling on roads any objects except their own necessary gear, threshing appliances, farming implements or supplies of fuel or water required for the purposes of the vehicles or agricultural purposes	£1.
(c) tractors (being tractors designed and constructed primarily for use otherwise than on roads and incapable by reason of their construction of exceeding a speed of 25 miles per hour on a level road under their own power and not being tractors in respect of which a duty is chargeable at the rate specified in subparagraph (b) of this paragraph) which are used for haulage in connection with agriculture and for no other purpose	£5.
Where a tractor is fitted with a detachable platform, container or implement (being a platform, container or implement used primarily for farm work), goods or burden of any other description conveyed on or in the platform, container or implement shall be regarded for the purposes of this subparagraph as being hauled by the tractor.
(d) tractors of any other description	£50.”

• (3) The Finance (Excise Duties) (Vehicles) Act, 1952, shall, as respects licences under section 1 of that Act for periods beginning on or after the 1st day of June, 1973, be amended by the substitution in Part I of the Schedule thereto of the following paragraph for paragraph 5:

“5. Vehicles (including tricycles weighing more than 8 cwt. unladen) constructed or adapted for use and used for the conveyance of goods or burden of any other description in the course of trade or business (including agriculture and the performance by a local or public authority of its functions) and vehicles constructed or adapted for use and used for the conveyance of a machine, workshop, contrivance or implement by or in which goods being conveyed by such vehicles are processed or manufactured while the vehicles are in motion:

(a) being vehicles which are electrically propelled and which do not exceed 25 cwt. in weight unladen	£20
(b) being vehicles which are not such electrically propelled vehicles as aforesaid—
(i) not exceeding 12 cwt. in weight unladen	£25
(ii) exceeding 12 cwt. but not exceeding 16 cwt. in weight unladen	£31
(iii) exceeding 16 cwt. but not exceeding 1 ton in weight unladen	£37
(iv) exceeding 1 ton but not exceeding 2 tons in weight unladen	£37, plus £6 for each quarter-ton, or part thereof, of weight unladen in excess of 1 ton
(v) exceeding 2 tons but not exceeding 3 tons in weight unladen	£61, plus £8 for each quarter-ton, or part thereof, of weight unladen in excess of 2 tons
(vi) exceeding 3 tons but not exceeding 4 tons in weight unladen	£93, plus £8 for each quarter-ton, or part thereof, of weight unladen in excess of 3 tons
(vii) exceeding 4 tons but not exceeding 5 tons in weight unladen	£125, plus £10 for each quarter-ton, or part thereof, of weight unladen in excess of 4 tons
(viii) exceeding 5 tons but not exceeding 6 tons in weight unladen	£165, plus £15 for each quarter-ton, or part thereof, of weight unladen in excess of 5 tons
(ix) exceeding 6 tons in weight unladen	£225, plus £20 for each quarter-ton, or part thereof, of weight unladen in excess of 6 tons

with an additional duty, in the case of any vehicle used for drawing a trailer, of—

(I) where the vehicle does not exceed 2 tons in weight unladen	£14
(II) where the vehicle exceeds 2 tons but does not exceed 3 tons in weight unladen	£18
(III) where the vehicle exceeds 3 tons but does not exceed 4 tons in weight unladen	£24
(IV) where the vehicle exceeds 4 tons but does not exceed 5 tons in weight unladen	£32
(V) where the vehicle exceeds 5 tons but does not exceed 6 tons in weight unladen	£42
(VI) where the vehicle exceeds 6 tons in weight unladen	£54.”

• (4) Subject to subsection (5) of this section, the Finance (Excise Duties) (Vehicles) Act, 1952, shall, as respects licences under section 1 of that Act for periods beginning on or after the 1st day of June, 1973, be amended by the substitution in Part I of the Schedule thereto of the following subparagraph for subparagraph (d) of paragraph 6:

“(d) other vehicles to which this paragraph applies—	£
not exceeding 8 horse-power or electrically propelled	22
exceeding 8 horse-power but not exceeding 9 horse-power	25.50
exceeding 9 horse-power but not exceeding 10 horse-power	£29
exceeding 10 horse-power but not exceeding 11 horse-power	33
exceeding 11 horse-power but not exceeding 12 horse-power	37.50
exceeding 12 horse-power but not exceeding 13 horse-power	42
exceeding 13 horse-power but not exceeding 14 horse-power	46-50
exceeding 14 horse-power but not exceeding 15 horse-power	51
exceeding 15 horse-power	55.”

• (5) Subsection (4) of this section shall not have effect in relation to any vehicle—

• (a) which is used as a small public service vehicle within the meaning of the Road Traffic Act, 1961, and for no other purpose,

• (b) which is fitted with a taximeter and is lawfully used as a street service vehicle within the meaning of the Road Traffic Act, 1961, or for purposes incidental to such user and for no other purpose, or

• (c) which is used as a hearse and for no other purpose.

• (6) The proceeds, calculated in such manner as the Minister for Finance may direct, of—

• (a) the variations of duties effected by this section and section 95 of this Act,

• (b) the duty imposed by section 94 of this Act, and

• (c) the increases of fees effected by the Road Traffic (Licensing of Drivers) (Amendment) Regulations, 1973,

shall, notwithstanding section 3 of the Finance (Excise Duties) (Vehicles) Act, 1952, be disregarded in any determination of a sum to be issued out of the Central Fund under section 2 (1) of the Roads Act, 1920.

94 Charge on first licensing of mechanically propelled vehicles.

94.—(1) Subject to the provisions of this section, as on and from the 1st day of June, 1973, before a person proposing to do so takes out a licence under section 1 of the Finance (Excise Duties) (Vehicles) Act, 1952, in respect of a mechanically propelled vehicle specified in subsection (2) of this section not previously the subject of a licence under that section, a duty of excise shall, in addition to the duty of excise chargeable in respect of the vehicle under that section, be charged, levied and paid on and by the person at the appropriate rate specified in the said subsection (2).

• (2) The duty imposed by subsection (1) of this section shall be at the following rates:

• (a) £1 in relation to a vehicle in respect of which the said duty chargeable under the said section 1 is payable at a rate specified in paragraph 1 of Part I of the Schedule to the said Act;

• (b) £5 in relation to any other vehicle (not being a vehicle in respect of which the said duty of excise is not chargeable or leviable).

• (3) The duty under this section shall be charged, levied and paid immediately before the taking out of the licence under the said section 1 and shall be collected by and paid to the licensing authority and shall be paid by that authority into the Exchequer in accordance with such directions as may from time to time be given by the Minister for Finance.

• (4) For the purpose of levying the duty under this section, a licensing authority shall have within their county or county borough the same powers, duties and liabilities as the Revenue Commissioners and their officers have with respect to duties of excise, and the enactments relating to duties of excise and to punishments and to penalties in connection therewith shall apply accordingly.

• (5) Sums paid into the Exchequer and penalties recovered pursuant to this section shall, for the purpose of section 2 of the Roads Act, 1920, be deemed to have been paid into the Exchequer under that Act.

• (6) The Road Vehicles (Registration and Licensing) Order, 1958, shall apply in relation to the duty imposed by this section as if it were a duty imposed by section 1 of the Finance (Excise Duties) (Vehicles) Act, 1952.

95 Increase of driving licence duty.

95.—The Finance (Excise Duties) (Vehicles) Act, 1952, shall, as on and from the 1st day of June, 1973, be amended by the substitution in section 4 (1A) (inserted by the Finance Act, 1961) of the following paragraphs for paragraphs (a) and (b):

• “(a) two pounds if the period of the licence is one year, and

• (b) two pounds for each year of the period of the licence if that period is two or more years.”.

96 Repeals.

96.—(1) Each enactment mentioned in column (2) of the Eleventh Schedule to this Act is hereby repealed to the extent specified in column (3) of that Schedule.

• (2) This section shall come into operation on the 1st day of August, 1973, or the date of the passing of this Act, whichever is the later:

Provided that, for the purposes of subsections (1) and (3) of section 71 of this Act, this section shall be deemed to have come into operation on the 1st day of January, 1973.

97 Care and management of taxes and duties.

97.—All taxes and duties (except the excise duties on mechanically propelled vehicles) imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.

98 Short title, construction and commencement.

98.—(1) This Act may be cited as the Finance Act, 1973.

• (2) Part I and section 92 of this Act (so far as relating to income tax, including sur-tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation profits tax) shall be construed together with Part V of the Finance Act, 1920, and the enactments amending or extending that Part.