FINANCE (No. 2) ACT, 1975

AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF INLAND REVENUE, TO AMEND THE LAW RELATING TO INLAND REVENUE AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [30th July, 1975]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1 Increase in certain rates of income tax for 1975-76.

1.—(1) Section 3 of the Finance Act, 1974, as amended by section 10 of the Finance Act, 1975, shall have effect, in relation to the charge to income tax for the year 1975-76 in respect of so much (if any) of the taxable income for that year as exceeds £1,550 of an individual (other than an individual acting in a fiduciary or representative capacity) who is chargeable to income tax for that year, as if each rate of tax referred to in paragraphs (b) and (c) of subsection (2) were increased by 10 per cent. of that rate.

• (2) Each reference to the standard rate in section 127 (1) (e), the proviso to section 143 (3) (b) (inserted by the Finance Act, 1975), section 153 (1) (dd), section 233 (2) (b) and section 525 (1) (i) of the Income Tax Act, 1967, shall, in respect of the standard rate of tax in relation to the year 1975-76, be construed as a reference to the standard rate increased by 10 per cent. of that rate.

• (3) Section 497 of the Income Tax Act, 1967, shall have effect, in respect of repayments of income tax falling to be made for the year 1975-76, as if at the standard rate, at that rate increased by 10 per cent. of that rate or at one or more of the higher rates increased, in the case of each such rate, by 10 per cent. of that rate, as may be appropriate” were substituted for “at the standard rate of tax or at the higher rate or rates, as the case may be”.

• (4) Where an assessment to income tax for the year 1975–76 has been made upon an individual before the commencement of this Act, such additional assessment as may be necessary to give effect to the provisions of this section may be made on the individual by an inspector.

2 Amendment of Value-Added Tax Act, 1972.

2.—(1) The Value-Added Tax Act, 1972, is hereby amended by the addition of the following paragraphs to the Second Schedule—

• “(xvii) clothing, including textile handkerchiefs and footwear;

• (xviii) fabrics, yarn and thread of a kind normally used in the manufacture of clothing, including elastics, tape and padding materials in the form supplied for the manufacture of clothing;

• (xix) sole and upper leather of a kind supplied for the manufacture and repair of footwear, and also soles, heels and insoles of any material;

• (xx) (a) coal, peat and other solid substances held out for sale solely as fuel,

• (b) gas of a kind used for domestic or industrial heating or lighting, whether in gaseous or liquid form, but not including gas of a kind normally used for welding and cutting metals or gas sold as lighter fuel,

• (c) electricity,

• (d) hydrocarbon oil of a kind used for domestic or industrial heating not being hydrocarbon oil sold for use in internal combustion engines.”.

• (2) In consequence of the amendment specified in subsection (1), the Value-Added Tax Act, 1972, is hereby further amended as specified in the Schedule to this Act.

3 Care and management of taxes and duties.

3.—All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.

4 Short title, construction and commencement.

4.—(1) This Act may be cited as the Finance (No. 2) Act, 1975.

• (2) Section 1 of this Act shall be construed together with the Income Tax Acts.

• (3) Section 2 of and the Schedule to this Act shall be construed together with the Value-Added Tax Act, 1972, and the enactments amending or extending that Act.

• (4) Section 2 of and the Schedule to this Act shall be deemed to have come into force and shall take effect as on and from the 1st day of July, 1975.

SCHEDULE Amendment of Enactment