FINANCE ACT, 1976

“FIFTH SCHEDULE

INCREASE IN STOCK VALUES: SUPPLEMENTARY PROVISIONS

1. (1) In any case where a company's accounting period does not coincide with a period of account or with two or more consecutive periods of account the company's increase in stock value in the accounting period shall be determined for the purposes of section 31A not in accordance with subsection (2) of that section but by reference to a period (in this Schedule referred to as the reference period) determined in accordance with this paragraph.

2. (2) In any case where the beginning of a company's accounting period does not coincide with the beginning of a period of account, the reference period shall begin at the beginning of the period of account which is current at the beginning of the company's accounting period.

3. (3) In any case where the end of a company's accounting period does not coincide with the end of a period of account, the reference period shall end at the end of the period of account which is current at the end of the company's accounting period.

4. (4) In any case where subparagraph (2) does not apply, the reference period shall begin at the beginning of the company's accounting period and, in any case where subparagraph (3) does not apply, the reference period shall end at the end of the company's accounting period.

5. (1) In any case where paragraph 1 (1) applies, a company's increase in stock value in the accounting period shall be determined for the purposes of section 31A by the formula

A (C−O) ____ N

where—

A is the number of months in the company's accounting period;

C is the value of the company's trading stock at the end of the reference period;

O is the value of the company's trading stock at the beginning of the reference period; and

N is the number of months in the reference period.

• (2) In any case where a company's increase in stock value in an accounting period falls to be determined in accordance with subparagraph (1), then, in section 31A and in the following provisions of this Schedule, any reference to the company's closing stock value shall be construed as a reference to the value of the company's trading stock at the end of the reference period.

• (1) The provisions of this paragraph shall have effect for the purposes of section 31A and the preceding provisions of this Schedule in any case where—

  • (a) there are two companies one of which is engaged in a trade consisting wholly or mainly of the manufacture of goods (in this paragraph referred to as the transferor company) and the other of which (in this paragraph referred to as the transferee company) acquires those goods as trading stock; and

  • (b) the acquisition occurs during an accounting period of the transferee company or, if paragraph 1 (1) applies in relation to that company, during a reference period; and

  • (c) the acquisition referred to in paragraph (a) results in a reduction in the trading stock held by the transferor company and a corresponding increase in the trading stock held by the transferee company; and

  • (d) the business of the transferee company consists wholly or mainly of the sale of goods manufactured by the transferor company; and

  • (e) the transferee company is not entitled to a deduction under section 31A otherwise than by virtue of this paragraph.

• (2) If a claim for relief under section 31A is made by the transferor company, then that company and the transferee company, if it has the same accounting period as the transferor company, shall be treated as one company for the purpose of determining the aggregate amount of the deductions to which they are entitled under section 31A:

Provided that if paragraph 1 (1) applies in relation to the transferor company, the transferee company shall not be treated as falling within this subparagraph unless paragraph 1 (1) also applies in relation to the transferee company and both the transferee company and the transferor company have the same reference period.

• (3) For the purpose specified in subparagraph (2), any reference in section 31A or in the preceding provisions of this Schedule to the value of a company's trading stock at any time or to its trading income for any period shall be construed as a reference to the aggregate of the values of trading stocks at that time or, as the case may be, the aggregate of the trading incomes for that period, of the companies which, for that purpose, are treated as one by virtue of that subparagraph.

• (4) Where the aggregate amount of the deductions to which the transferor company and the transferee company are entitled under section 31A has been determined in accordance with subparagraphs (2) and (3), that amount shall be apportioned between them so that the deduction to which one of them is so entitled bears to the deduction to which the other is so entitled the same proportion as the closing stock value of that one of them bears to the closing stock value of the other.

• (5) The provisions of this paragraph shall apply only where one of the two companies referred to in subparagraph (1) (a) holds throughout the relevant accounting period or reference period either in its own name or in that of a nominee all of the ordinary shares in the other company referred to in the said subparagraph or where some other company holds throughout the relevant accounting period or reference period either in its own name or in that of a nominee all of the ordinary shares in each of the two companies referred to in the said subparagraph.

• (6) For the purposes of computing the aggregate amount of the deductions to which the transferor company and the transferee company treated as one by virtue of subparagraph (2) are entitled under section 31A pursuant to this paragraph and the apportionment of that amount between them, the transferee company shall be regarded as carrying on a trade.

• (1) A company shall not be entitled to a deduction under section 31A for an accounting period if that accounting period ends by virtue of the company—

  • (a) ceasing to carry on a trade; or

  • (b) ceasing to be resident in the State; or

  • (c) ceasing to be within the charge to corporation tax under Case I of Schedule D.

• (2) In any case where a company's increase in stock value in an accounting period falls to be determined in accordance with paragraph 2 (1), subparagraph (1) shall have effect as if the reference therein to the company's accounting period were a reference to any of the accounting periods comprised in the company's reference period.

• (1) Subject to the following provisions of this paragraph, where a company claims a deduction under section 31A and, immediately before the beginning of an accounting period, the company was not carrying on the trade to which the claim relates, then, unless—

  • (a) the company acquired the initial trading stock of that trade on a sale or transfer from another person on that person's ceasing to carry on that trade, and

  • (b) the stock so acquired is, or is included in, the company's trading stock as valued at the beginning of the accounting period,

  the company shall be treated for the purposes of section 31A and the preceding provisions of this Schedule as having at the beginning of the accounting period trading stock of such value as appears to the inspector to be reasonable and just.

• (2) In determining, for the purposes specified in subparagraph (1), the value of trading stock to be attributed to a company at the beginning of the accounting period, the inspector shall have regard to all the relevant circumstances of the case and, in particular—

  • (a) to movements during the company's accounting period in the costs of items of a kind comprised in the company's trading stock during that period; and

  • (b) to changes during that period in the volume of the trade in question carried on by the company.

• (3) The Appeal Commissioners dealing with an appeal from the decision of an inspector on a claim in a case where, in accordance with subparagraph (1), the inspector has attributed to a company at the beginning of an accounting period trading stock of a particular value shall, in hearing and determining the appeal, in so far as it relates to the value of the trading stock to be so attributed, determine such value as appears to them to be reasonable and just, having regard to those factors to which the inspector is required to have regard by virtue of subparagraph (2).

• (4) In any case where paragraph 1 (1) applies to a company's accounting period, for any reference in subparagraphs (1) to (3) to that accounting period there shall be substituted a reference to the reference period.

• (1) In this Schedule ‘trade’, ‘trading income’, and ‘trading stock’ have the same meanings, respectively, as in section 31A.

• (2) In any case where a company's accounting period or reference period consists of a number of complete months and a fraction of a month, any reference in the preceding provisions of this Schedule to the number of months in the period shall be construed as including that fraction of a month (and in any case where any such period is less than one month any such reference shall be construed as a reference to that fraction of a month of which the period consists).”,

and the said definition of “accounting period”, as so amended by subsection (1) (a) (i), is set out in the Table to this subsection.

TABLE

“accounting period”, in relation to a company, means an accounting period determined in accordance with the provisions of section 54 of the Finance Act, 1920, which ends on a date in the period from the 6th day of April, 1973, to the 5th day of April, 1976.

• (2) A company shall not be entitled to a deduction by virtue of subsection (1) (a) in respect of an assessment unless it makes a claim before—

• (a) the date on which the assessment becomes final and conclusive,

or

• (b) the expiry of the period of six months beginning with the date of the passing of this Act,

whichever is the later.

27 Amendment of section 54 (meaning of “goods”) of Corporation Tax Act, 1976.

27.—Section 54 of the Corporation Tax Act, 1976, is hereby amended by the addition of the following subsection:

• “(4)

  • (a) ‘Goods’ in this section shall not include goods sold to the agency whether or not the goods are exported out of the State.

  • (b) ‘The agency’ in paragraph (a) means the Minister for Agriculture and Fisheries when exercising or performing any power or function conferred on him by Regulation 3 of the European Communities (Common Agricultural Policy) (Market Intervention) Regulations, 1973, and any other person when exercising or performing any corresponding power or function in any member state of the European Economic Community.”.

28 Reduced rate of tax for certain interest.

28.—(1) In this section—

“approved bank” means any bank approved of for the purposes of this section by the Minister for Finance;

“housing loan” means a loan granted on or after the 1st day of July, 1975, by an approved bank, or a subsidiary thereof, to an individual resident in the State for the sole purpose of the purchase by that individual of a dwelling-house in the State for occupation by him as his only or main residence;

“the approved rate” means the rate of interest approved from time to time by the Minister for Finance for the purposes of this section;

“subsidiary”, in relation to an approved bank, means a company (within the meaning of the Companies Act, 1963) which is, or if every such bank were a company (within the meaning aforesaid) would be, a subsidiary (within the meaning of the said Companies Act, 1963) of any such bank.

• (2) This section applies to interest on housing loans received on or after the 1st day of July, 1975, by an approved bank, or a subsidiary thereof, being interest which has been charged at the approved rate.

• (3) Section 52 of the Finance Act, 1920, shall not apply to interest to which this section applies.

• (4) Section 79 (3) of the Corporation Tax Act, 1976, is hereby amended by the insertion, after paragraph (c), of the following paragraph:

• “(cc) interest to which section 28 of the Finance Act, 1976, applies, and, for this purpose, that interest shall, without any deduction therefrom, be regarded as part of the income of the company for the relevant accounting period.”.

29 Interest on unpaid wealth tax and capital acquisitions tax.

29.—Interest payable under section 18 of the Wealth Tax Act, 1975, or section 41 of the Capital Acquisitions Tax Act, 1976, shall not be allowed in computing any income, profits or losses for any of the purposes of the Tax Acts or of any of the enactments relating to corporation profits tax.

30 Appeals against assessments and payments on account.

30.—(1) In this section—

“assessment to tax” means an assessment to tax made on or after the passing of this Act;

“determination of the appeal” has the same meaning as in section 550 (2A) (c) of the Income Tax Act, 1967;

“the specified amount of tax” means, in a case where notice of appeal against an assessment to tax has been given—

• (a) the amount of tax specified in the notice in accordance with the provisions of subsection (2), or

• (b) where no amount of tax is so specified, or where the amount of tax specified exceeds the tax assessed, the tax assessed;

“tax” means income tax, sur-tax, corporation profits tax, corporation tax or capital gains tax, as may be appropriate;

“the tax assessed” means the amount of tax charged by the assessment or, in a case where the tax is payable in two instalments, the amount of each instalment.

• (2) Whenever an appeal is made against an assessment to tax, the appellant shall, in the notice of appeal, specify—

• (a) the grounds of the appeal, and

• (b) the amount of tax in the assessment or, where the tax is payable in two instalments, the amount of each instalment, which, in his opinion, is likely to become payable on or after the determination of the appeal,

but this subsection shall not preclude the Appeal Commissioners from allowing the appellant, on the hearing of the appeal, to go into any ground of appeal which was not specified in the notice of appeal and the omission of which from such notice was, in the opinion of the Appeal Commissioners, not wilful or unreasonable.

• (3) In any case where notice of appeal has been given against an assessment to tax—

• (a) the specified amount of tax shall, notwithstanding the appeal, be collected, paid and carry interest in all respects as if it were tax charged by an assessment in respect of which no appeal was pending and section 550 (other than subsection (2A)) of the Income Tax Act, 1967, shall apply accordingly, and

• (b) on the determination of the appeal, any balance of tax chargeable in accordance with the determination shall be payable, or any tax overpaid shall be repaid.

• (4) Where an overpayment of tax is to be repaid under subsection (3), the overpayment shall carry interest at the rate or rates in force by virtue of section 550 (1) of the Income Tax Act, 1967, for the period from the date or dates of the payment of the amount or amounts giving rise to the overpayment, as the case may require, to the date on which the repayment is made:

Provided that—

• (a) interest shall not be payable under this subsection if it amounts to less than £1, and

• (b) income tax shall not be deductible on payment of interest under this subsection and such interest shall not be reckoned in computing income for the purposes of the Tax Acts.

• (5) Where the specified amount of tax is paid not later than two months from the date on which it becomes due and payable and that amount is not less than the lesser of the two following amounts—

• (a) the tax assessed, and

• (b) 80 per cent. of the amount of tax found to be chargeable by the assessment on the determination of the appeal,

interest shall not be payable on any balance of tax if such balance is paid within two months from the date of the determination:

Provided that in a case where the tax found to be chargeable by the assessment is payable in two instalments, this subsection shall apply in relation to each specified amount of tax as if the reference to the amount of tax found to be chargeable by the assessment on the determination of the appeal, were a reference to the amount of the said tax which is payable in the relevant instalment.

• (6) Where—

• (a) the amount of tax referred to in subsection (5) (b) falls to be computed and the income in respect of which the tax is chargeable consists of or includes income from any source or sources which is to be computed on the basis of the actual amounts receivable in the year of assessment, or where any deductions allowable on account of any annual sums paid out of profits or gains of a person are to be allowed as deductions in respect of the year in which they are payable, and

• (b) the appeal is made before the end of the year of assessment to which the assessment relates,

the said amount shall, if the person assessed so elects at the time of determination of the appeal, be computed as if—

• (i) the amount of the income from each of the said sources were equivalent to the amount of the income received from that source in the year immediately preceding the year of assessment, and

• (ii) the amount of deductions so allowable were an amount equivalent to the amount of those deductions in the year immediately preceding the year of assessment.

• (7) Section 416 (1) of the Income Tax Act, 1967, shall have effect as if for “twenty-one days” there were substituted “thirty days”.

• (8) Sections 417 and 419 of the Income Tax Act, 1967, shall not apply to any assessment to tax.

31 Increase in limit of capital allowances for vehicles.

31.—(1) Sections 25 to 29 of the Finance Act, 1973, shall have effect, in relation to expenditure incurred on the provision or hiring of a vehicle to which those sections apply, as if for “£2,500”, in each place where it occurs in those sections, there were substituted “£3,500”.

• (2) The reference in subsection (1) to expenditure incurred on the provision or hiring of a vehicle does not include—

• (a) as respects the said sections 25 to 27, a reference to expenditure incurred on or before the 28th day of January, 1976, or incurred within twelve months after that day under a contract entered into before that day, and

• (b) as respects subsections (2) and (3) of the said section 28 and the said section 29, a reference to expenditure under a contract entered into on or before the said 28th day of January, 1976.

32 Restriction of deduction in respect of vehicles.

32.—(1) In this section—

“qualifying expenditure” means the amount of expenditure incurred in relation to a vehicle (within the meaning of section 30 of the Finance Act, 1973), being expenditure which, but for the provisions of this section—

• (a) would be allowable as a deduction—

• (i) in the computation of the profits or gains chargeable to tax under Schedule D of the trade, profession or business in the course of which the vehicle is used, or

• (ii) in the computation of the profits or gains chargeable to tax under Schedule E from an office or employment in the performance of the duties of which the vehicle is used,

or

• (b) would be taken into account for the purposes of a claim in respect of expenses of management under section 15 of the Corporation Tax Act, 1976, or that section as applied by section 33 of that Act;

“relevant cost”, in relation to a vehicle provided for the purposes of a trade, profession, business, office or employment, means—

• (a) in a case where the vehicle is purchased by the person providing it, the actual cost to that person of providing the vehicle, or

• (b) in a case where the vehicle is not purchased by the person providing it, the retail price of the vehicle at the time it was first provided for use by that person.

• (2) Where, for any year of assessment or accounting period, a deduction is claimed by any person in respect of qualifying expenditure and that expenditure is incurred—

• (a) in respect of a vehicle the relevant cost of which exceeds £3,500, and

• (b) in respect of a period subsequent to the 28th day of January, 1976,

the amount of the deduction to be allowed in respect of that qualifying expenditure shall be reduced—

• (i) by one-third of the amount by which the relevant cost of the vehicle exceeds £3,500, or

• (ii) where that person so elects, by an amount which bears to the amount of the qualifying expenditure the same proportion as the excess of the relevant cost of the vehicle over £3,500 bears to the relevant cost of the vehicle:

Provided that, in a case where paragraph (i) applies and the period in respect of which the qualifying expenditure is incurred is part only of a year, the amount by which the deduction is to be reduced for that period by virtue of the said paragraph (i), shall be reduced in the proportion which that part of the year bears to a year.

33 Termination of relief in respect of certain profits of industrial and provident societies.

33.—(1) In this section—

“society” means a society registered under the Industrial and Provident Societies Acts, 1893 to 1971, which is an agricultural society or a fishery society within the meaning of section 220 of the Income Tax Act, 1967;

“period of account” has the meaning assigned to it by section 155 (5) of the Corporation Tax Act, 1976;

“wear and tear allowance” means an allowance under section 241 of the Income Tax Act, 1967;

“initial allowance” means an allowance under Chapter I, Part XV of the Income Tax Act, 1967;

“investment allowance” means an allowance under section 22 of the Finance Act, 1971.

• (2) In the case of a trade carried on by a society no transaction on or after the 6th day of April, 1976, shall be regarded as an exempted transaction for the purposes of section 220 of the Income Tax Act, 1967.

• (3) Where a society comes within the charge to corporation tax in respect of a trade before the 6th day of April, 1976, an accounting period of the society shall end for purposes of corporation tax on the 5th day of April, 1976.

• (4) Where a society carrying on a trade incurred before the 6th day of April, 1976, capital expenditure on the provision of machinery or plant for the purposes of the trade and that expenditure was either—

• (a) qualifying expenditure within the meaning of section 11 of the Finance Act, 1967, or

• (b) expenditure on qualifying machinery or plant within the meaning of section 26 of the Finance Act, 1971,

an allowance equal to the specified amount of that capital expenditure may at the election of the society be made in taxing the trade of the society for the accounting period which commences on the 6th day of April, 1976, as if it were an allowance on account of the wear and tear of the machinery or plant in that accounting period, and where such an election is made, the amount of the capital expenditure on the provision of the machinery or plant still unallowed as at the time of any subsequent event shall for the purposes of Chapter II of Part XVI of the Income Tax Act, 1967, be deemed to be nil.

• (5) For the purposes of subsection (4) the specified amount of the capital expenditure means the amount of that capital expenditure together with any investment allowance in respect of that expenditure after deducting from the aggregate amount thereof—

• (a) the amount, as diminished by section 220 (5) of the Income Tax Act, 1967, of any investment allowance made to the society in respect of that expenditure;

• (b) the aggregate amount, as diminished by the said section 220 (5), of the wear and tear allowances and initial allowances, made to the society in respect of that expenditure for all chargeable periods before the accounting period commencing on the 6th day of April, 1976;

• (c) the aggregate of the amounts by which the wear and tear allowances in respect of that expenditure would have been diminished by the said section 220 (5) if the only wear and tear allowances for those chargeable periods in respect of that expenditure were the amounts which would have been made if a proper claim had been duly made by the society for each chargeable period without regard to section 11 of the Finance Act, 1967, or section 26 of the Finance Act, 1971.

• (6) Where—

• (a) a society comes within the charge to corporation tax in respect of a trade,

• (b) the society was within the charge to income tax for the year 1975-76 in respect of the trade, and

• (c) a period of account of the society commences before the 6th day of April, 1976, and ends on or after that date,

the income from the trade for the period of account shall be computed (in accordance with the provisions applicable to Case I of Schedule D) without regard to the provisions of section 220 (3) of the Income Tax Act, 1967, and the income as so computed shall be apportioned to the part of the period of account falling before the 6th day of April, 1976, and the part falling after that date, and for the purposes of subsections (3) and (4) of section 220 of the Income Tax Act, 1967, and section 70 (5) of the Finance Act, 1963, each such part shall be deemed to be a period of account and the income from the trade for that part shall be the amount apportioned to it under the provisions of this section.

• (7) Any apportionment to different periods under this section shall be made on a time basis according to the respective lengths of those periods.

34 Inspection of documents and records.

34.—(1) In this section—

“an authorised officer” means an inspector or other officer of the Revenue Commissioners authorised by them to exercise the powers conferred by this section;

“trade” means any trade or business (other than banking business within the meaning of the Central Bank Act, 1971).

• (2) An authorised officer may at all reasonable times enter any premises or place where any trade is carried on or anything is done in connection with the trade and—

• (a) may require the owner or manager of the premises or place or any person on the premises or in that place who is employed by the person carrying on the trade to produce any books, records, accounts or other documents relating to the trade and may remove and retain any such books, records, accounts or other documents for such period as may be reasonable for their examination,

• (b) may examine any such books, records, accounts or other documents and may take copies of or extracts from the books, records, accounts or other documents,

• (c) may examine any property listed in any balance sheets, stock sheets or other such statements,

• (d) may require the owner or manager of the premises or place or any person on the premises or in that place, who is employed by the person carrying on the trade, to give to the inspector or authorised officer all reasonable assistance.

• (3) A person shall not wilfully obstruct or delay an authorised officer in the exercise of his powers under this section.

• (4) A person who contravenes subsection (3) or does not comply with a requirement of an authorised officer under this section shall be liable to a penalty of £500.

• (5) When exercising any powers conferred by this section, an authorised officer shall, if so requested by any person affected, produce to that person a certificate of the Revenue Commissioners stating that he is authorised to exercise the powers so conferred.

PART II Customs and Excise

35 Definition (Part II).

35.—In this Part “the Order of 1975” means the Imposition of Duties (No. 221) (Excise Duties) Order, 1975.

36 Beer.

36.—(1) The duty of excise on beer imposed by Paragraph 7 (1) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1976, at the rate of £60·595 for, in the case of all beer brewed within the State, every 36 gallons of worts of a specific gravity of 1,055 degrees, and, in the case of all imported beer, every 36 gallons of beer of which the worts were before fermentation of a specific gravity of 1,055 degrees in lieu of the rate mentioned in the said Paragraph 7 (1).

• (2) The drawback on beer provided for in Paragraph 7 (3) of the Order of 1975 shall, as on and from the 29th day of January, 1976, be calculated according to the original specific gravity of the beer at the rate of £60·608 on every 36 gallons of beer of which the original specific gravity was 1,055 degrees in lieu of the rate mentioned in the said Paragraph 7 (3).

37 Spirits.

37.—(1) The duty of excise on spirits imposed by Paragraph 4 (2) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1976, at the several rates specified in the Second Schedule to this Act in lieu of the several rates specified in the second column of the First Schedule to the said Order.

• (2) Nothing in this section shall operate to relieve from or to prejudice or affect the additional duty of excise in respect of immature spirits imposed by Paragraph 4 (2) of the Order of 1975 at the several rates specified in the third column of the First Schedule to the said Order.

38 Tobacco.

38.—The duty of excise on tobacco imposed by Paragraph 10 (2) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1976, at the several rates specified in the Third Schedule to this Act in lieu of the several rates specified in the Fourth Schedule to the said Order.

39 Wine and made wine.

39.—(1) The duty of excise on wine imposed by Paragraph 5 (2) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1976, at the several rates specified in Part I of the Fourth Schedule to this Act in lieu of the several rates specified in the Second Schedule to the said Order.

• (2) The duty of excise on made wine imposed by Paragraph 6 (2) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1976, at the several rates specified in Part II of the Fourth Schedule to this Act in lieu of the several rates specified in the Third Schedule to the said Order.

40 Hydrocarbon oils.

40.—(1) The duty of excise on mineral hydrocarbon light oil imposed by Paragraph 11 (1) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1976, at the rate of £0·4341 per gallon in lieu of the rate set out in the said Paragraph 11 (1).

• (2)
• (a) Notwithstanding clause (b) or (c) of Paragraph 11 (5) of the Order of 1975, the duty of excise imposed by the said Paragraph 11 shall be charged, levied and paid at the rate of £0.02 per gallon, as on and from the 29th day of January, 1976, on mineral hydrocarbon light oil to which the said clause (b) or (c) applies.

• (b) Notwithstanding subparagraph (6) of Paragraph 12 of the Order of 1975, the duty of excise imposed by the said Paragraph 12 shall be charged, levied and paid at the rate of £0.02 per gallon, as on and from the 29th day of January, 1976, on hydrocarbon oil to which the said subparagraph (6) applies.

• (3) Paragraph 11 (7) of the Order of 1975 is hereby amended, as on and from the 29th day of January, 1976, by the substitution for “without payment of duty” of “on payment of a duty of excise at the rate of £0·02 per gallon.”.

• (4) Any authorisation issued before the 29th day of January, 1976, under the provisions of Paragraph 11 (7) of the Order of 1975, in relation to the importation or the delivery from the premises of a refiner of hydrocarbon oil or from a bonded warehouse free of the duty imposed by Paragraph 11 (1) of the Order of 1975 of articles chargeable with that duty, shall, so far as it affects articles imported or delivered on or after that date, be deemed to authorise the importation or delivery of such articles on payment of a duty of excise at the rate of £0.02 per gallon.

• (5) The repayments of excise duty provided for in Paragraphs 11 (10) and 12 (10) of the Order of 1975 shall, where the duty is chargeable and paid after the 28th day of January, 1976, be at the rate of duty paid less an amount of £0·02 per gallon.

• (6) Paragraphs 11 (4) and 12 (2) of the Order of 1975 are hereby amended, as on and from the 29th day of January, 1976, by the substitution in each case for “imposed by this Paragraph which is shown, to the satisfaction of the Revenue Commissioners, to have been paid” of “shown, to the satisfaction of the Revenue Commissioners, to have been paid by reason of the operation of this Paragraph”.

• (7) Paragraph 12 (1) of the Order of 1975 is hereby amended, as on and from the 29th day of January, 1976, by the substitution for the proviso thereto of the following proviso:

“Provided, however, that the said excise duty shall be charged, levied and paid at the rate of £0·02 per gallon, in lieu of the aforementioned rate, on mineral hydrocarbon heavy oil within the meaning of section 7 (6) of the Finance Act, 1933 (No. 15 of 1933), so sent out or imported on or after the 29th day of January, 1976”.

• (8) The amount of any rebate allowed under Paragraph 12 (3) of the Order of 1975 shall, in respect of any hydrocarbon oil imported or delivered on or after the 29th day of January, 1976, be the amount of excise duty chargeable less an amount calculated at the rate of £0.02 per gallon.

• (9) Subparagraphs (3) and (13) of Paragraph 11 and Paragraph 12 (9) of the Order of 1975 are hereby revoked as on and from the 29th day of January, 1976.

41 Gaseous hydrocarbons in liquid form.

41.—(1) In addition to any other duty which may be chargeable, there shall be charged, levied and paid, as on and from the 29th day of January, 1976, a duty of excise on gaseous hydrocarbons in liquid form made in the State which are sent out, on or for sale or otherwise, from the premises of the manufacturer thereof or are used by such manufacturer for any purpose other than the manufacture or production of hydrocarbon oil or gaseous hydrocarbons in liquid form and on gaseous hydrocarbons in liquid form imported into the State and such duty shall be charged—

• (a) at the rate of £0.02 per gallon until the commencement of section 42 of this Act, and

• (b) at the rate of £0·10 per gallon thereafter.

• (2) A drawback equal to the amount of the duty imposed by subsection (1) of this section which is shown, to the satisfaction of the Revenue Commissioners, to have been paid in respect of the goods in question, shall be allowed on the exportation from the State or the shipment or deposit in a bonded warehouse for use as ship's stores of any goods chargeable with the said duty.

• (3) Whenever the Minister for Finance so thinks proper, the Revenue Commissioners may, subject to compliance with such conditions as they may think fit to impose, authorise any person to import or take delivery from the premises of a manufacturer of gaseous hydrocarbons in liquid form or from a bonded warehouse of any goods liable to the duty of excise imposed by subsection (1) of this section without payment of that duty.

• (4) Subject to compliance with such conditions as the Revenue Commissioners may think fit to impose, any goods liable to the duty of excise imposed by subsection (1) of this section may be removed for exportation, or for shipment for use as ship's stores, from the premises of the manufacturer thereof without payment of the said duty.

• (5) The Revenue Commissioners may, if they so think fit, allow any goods which are liable to the duty of excise imposed by subsection (1) of this section to be warehoused without payment of the said duty, and may, if and in so far as they so think proper, remit duty on any deficiency arising in goods so warehoused where they are satisfied that no part of such deficiency was caused by illegal or improper means.

• (6) Where, in the period from the 29th day of January, 1976, to the 29th day of February, 1976, by reason of the operation of the provisions of Paragraphs 11 and 12 of the Order of 1975 or of subsection (1) of this section, an excise duty at the rate of £0·02 per gallon is payable on the importation or delivery of goods, the Revenue Commissioners may, subject to such conditions for securing the payment of the duty as they may think fit to impose, permit payment of the said duty to be deferred to a date not later than the 29th day of February, 1976.

• (7) Paragraph 17 of the Order of 1975 shall, with any necessary modifications, apply, as on and from the 29th day of January, 1976, in relation to the duty of excise imposed by subsection (1) of this section as it applies to the duties imposed by that Order.

• (8) Section 15 of the Value-Added Tax Act, 1972, shall be construed, as on and from the 29th day of January, 1976, until the commencement of section 55 of this Act as if the references to excise duty (inserted by the Order of 1975) included references to the excise duty imposed by subsection (1) of this section.

• (9)
• (a) Subject to paragraph (b) of this subsection, the provisions of the Customs Acts and of any instrument relating to duties of customs made under statute, and not otherwise applied by this section, shall, with any necessary modifications, as on and from the 29th day of January, 1976, apply in relation to the duty of excise imposed by subsection (1) of this section on goods imported into the State as they apply in relation to duties of customs.

• (b) Where, in relation to the duty of excise imposed by subsection (1) of this section, there is a provision in this section corresponding to a provision of the Customs Acts or of any instrument relating to duties of customs made under statute, the latter provision shall not apply in relation to that duty of excise.

• (10)
• (a) Subject to paragraph (b) of this subsection, the provisions of the Statutes which relate to the duties of excise and the management thereof and of any instrument relating to the duties of excise made under statute, and not otherwise applied by this section, shall, with any necessary modifications apply, as on and from the 29th day of January, 1976, in relation to the duty of excise imposed by subsection (1) of this section on goods produced or manufactured in the State as they apply to duties of excise.

• (b) Where, in relation to the duty of excise imposed by subsection (1) of this section, there is a provision in this section corresponding to a provision of the Statutes which relate to the duties of excise or of any instrument relating to the duties of excise made under statute, the latter provision shall not apply in relation to that duty of excise.

• (11) This section, so far as it relates to the duty of excise on imported goods imposed by subsection (1) of this section, shall be construed together with the Customs Acts and any instrument relating to the customs made under statute and, so far as it relates to the said duty of excise on goods made in the State, shall be construed together with the Statutes which relate to the duties of excise and the management of those duties and any instrument relating to the duties of excise and the management of those duties made under statute.

• (12) The provisions of Regulations 3 to 19 and 21 to 39 of the Hydrocarbon Oil Regulations, 1941, and section 21 (12) of the Finance Act, 1935, shall apply, as on and from the 29th day of January, 1976, in relation to the goods liable to the duty of excise imposed by subsection (1) of this section as if they were hydrocarbon oil or hydrocarbon (heavy) oil as the case may be within the meaning, in each case, of Regulation 3 of the said Regulations.

• (13) The duty of excise imposed by subsection (1) of this section is hereby placed under the care and management of the Revenue Commissioners.

42 Provisions relating to duty on gaseous hydrocarbons in liquid form for motor vehicles.

42.—(1) In this section—

“motor vehicle” has the meaning assigned to it by section 21 (15) of the Finance Act, 1935, as amended by section 8 (6) of the Finance Act, 1942, and section 17 of the Finance Act, 1949;

“motor vehicle gas” means any gaseous hydrocarbons in liquid form chargeable with the duty of excise imposed by section 41 of this Act which are intended for use for combustion in the engine of a motor vehicle.

• (2) A rebate of the amount of the duty of excise imposed by section 41 of this Act less an amount calculated at the rate of £0·02 per gallon shall be allowed on gaseous hydrocarbons in liquid form on which the said duty of excise has been paid at the rate specified in subsection (1) (b) of that section and which are shown, to the satisfaction of the Revenue Commissioners, not to be motor vehicle gas.

• (3) Where a rebate under subsection (2) of this section is allowed on gaseous hydrocarbons in liquid form, the amount of any drawback which may be allowable under section 41 (2) of this Act shall be reduced by the amount of the rebate so allowed.

• (4)
• (a) There shall be charged, levied and paid on a licence granted by the Revenue Commissioners to be taken out annually by every person who sells or delivers on any premises motor vehicle gas chargeable with the duty imposed by section 41 of this Act at the rate specified in subsection (1) (b) of that section, a duty of excise (in this section referred to as the licence duty) of 25 pence, and where any such person so sells or delivers such gas on more than one premises, the licence duty shall be payable and the said licence shall be taken out annually by such person in respect of each of such premises separately.

• (b) The provisions of any statute and any instrument made under statute applying to licences granted under and to the duty of excise imposed by Paragraph 12 (12) of the Order of 1975 shall, with any necessary modifications, apply in relation to licences granted under and to the duty of excise imposed by this subsection as they apply to licences granted under and the duty imposed by the said Paragraph 12 (12).

• (5)
• (a) An officer of the Revenue Commissioners or member of the the Garda Síochána may examine and take samples of any gaseous hydrocarbons in liquid form kept in any tank or other container connected to the engine of a motor vehicle constructed or adapted to use gaseous hydrocarbons in liquid form for combustion in the engine thereof and may interrogate the owner of the vehicle, the person whose name is most recently entered in relation to the registration of the vehicle pursuant to the Roads Act, 1920, and the person in charge of such vehicle in regard to such gaseous hydrocarbons and may require of those persons proof of payment of the duty of excise imposed by section 41 of this Act at the rate specified in subsection (1) (b) of that section on any such gaseous hydrocarbons and those persons shall give to the officer or member all information required of them that is in their possession or procurement.

• (b) For the purposes of exercising the powers conferred on him by paragraph (a) of this subsection, an officer of the Revenue Commissioners or a member of the Garda Síochána may, if he has reasonable grounds to suspect that a motor vehicle in respect of which an offence under this section is being committed is kept at any premises, enter and inspect the premises, other than a dwelling, at any time between the hours of 8 a.m. and 6 p.m. on any day, and bring onto the premises any motor vehicle being used by him in the course of his duties.

• (c) If following the interrogation provided for in paragraph (a) of this subsection proof of the payment of the duty mentioned therein is not produced, an officer of the Revenue Commissioners may, if he has reasonable grounds to suspect that the duty in question has not been paid, seize, as liable to forfeiture, the motor vehicle in which the gaseous hydrocarbons are kept.

• (d) When exercising any power conferred by this subsection, an officer of the Revenue Commissioners shall, if so requested by any person affected, produce to him the commission or deputation of the Revenue Commissioners appointing him to be such officer.

• (6) In any proceedings against a person for selling, delivering, using or keeping gaseous hydrocarbons in liquid form on which the duty imposed by section 41 of this Act has not been paid, or on which a rebate under subsection (2) of this section has been allowed, for combustion in the engine of a motor vehicle, it shall be presumed, until the contrary is proved, that the duty has not been paid or that the rebate has been allowed, as the case may be.

• (7) The Revenue Commissioners may make regulations for giving effect to the provisions of section 41 of this Act and this section and, in particular, for—

• (a) governing the production, sale, delivery, storage and use of gaseous hydrocarbons in liquid form,

• (b) requiring a person who stores, sells or uses gaseous hydrocarbons in liquid form to keep in such manner as may be prescribed by them, and to preserve for a specified period, any books, documents, accounts and records relating to the purchase, receipt, sale or disposal by him of such gaseous hydrocarbons and to allow any officer of the Revenue Commissioners to inspect and take copies of such books, documents, accounts and records,

• (c) requiring gaseous hydrocarbons in liquid form and containers for such gaseous hydrocarbons to be marked in such manner as they may specify in the regulations,

• (d) requiring information relating to the supply or use of gaseous hydrocarbons in liquid form and containers of such gaseous hydrocarbons to be given by producers of and dealers in such gaseous hydrocarbons and by any person who is an owner of, or who is for the time being in charge of, any motor vehicle constructed or adapted to use gaseous hydrocarbons in liquid form for combustion in the engine thereof.

• (8) No person shall—

• (a) use for combustion in the engine of a motor vehicle or keep in a tank or other container connected to the engine of a motor vehicle any gaseous hydrocarbons in liquid form on which the duty imposed by section 41 of this Act has not been paid or on which a rebate of duty under subsection (2) of this section has been allowed, or

• (b) purchase or receive from a person who is not the holder of a licence under subsection (4) of this section any motor vehicle gas.

• (9) Any person who contravenes or fails to comply with the provisions of this section or any regulation under this section or who resists, obstructs or impedes an officer of the Revenue Commissioners or a member of the Garda Síochána in the exercise of any power conferred on him by this section or any regulation under this section shall be guilty of an offence and shall be liable, on conviction, to an excise penalty of £500 and the motor vehicle gas in respect of which the offence was committed shall be forfeited and, in the case of an offence involving a motor vehicle, if it is a second or subsequent offence by the person under this section, the vehicle shall be forfeited.

• (10) This section shall come into operation on such day as the Minister for Finance may appoint by order.

43 Amendment of section 21 (duties on hydrocarbon oils) of Finance Act, 1935.

43.—Section 21 of the Finance Act, 1935, is hereby amended by the substitution in subsection (12) (inserted by the Finance Act, 1940) of “£500 and the oil in respect of which the offence was committed shall be forfeited and, in the case of an offence involving a motor vehicle—

• (i) if it is a second or subsequent offence under the section by the person, or

• (ii) if the vehicle has, in substitution for or in addition to the normal fuel tank or tanks of the vehicle, a tank or other container that is concealed, is connected to the engine of the vehicle and contains hydrocarbon oil (chargeable with either of the duties of excise imposed by Paragraph 12 of the Order of 1975) on which neither of the said duties has been paid or on which a rebate under Paragraph 12 (3) of the said Order has been allowed,

the vehicle shall be forfeited” for “one hundred pounds and, in addition, the oil shall be forfeited” and so much of subsection (12), as so amended, as follows paragraph (e) thereof, is set out in the Table to this section.

TABLE

such person shall be guilty of an offence under this section and shall be liable to a penalty, under the law relating to customs or the law relating to excise (as the case may be), of £500 and the oil in respect of which the offence was committed shall be forfeited and, in the case of an offence involving a motor vehicle—

• (i) if it is a second or subsequent offence under the section by the person, or

• (ii) if the vehicle has, in substitution for or in addition to the normal fuel tank or tanks of the vehicle, a tank or other container that is concealed, is connected to the engine of the vehicle and contains hydrocarbon oil (chargeable with either of the duties of excise imposed by Paragraph 12 of the Order of 1975) on which neither of the said duties has been paid or on which a rebate under Paragraph 12 (3) of the said Order has been allowed,

the vehicle shall be forfeited.

44 Amendment of section 34 (amendments relative to penalties) of Finance Act, 1963.

44.—Section 34 of the Finance Act, 1963, is hereby amended by the substitution, in subparagraph (i) of paragraph (c) and subparagraph (ii) of paragraph (d) of subsection (4) and in subsection (5) of “£500” for “one hundred pounds” and the said subparagraphs (i) and (ii) and subsection (5), as so amended, are set out in the Table to this section.

TABLE

• (i) in case treble the estimated value exceeds £500, the offence shall be tried on indictment, and

• (ii) where treble the value so determined exceeds £500, the offence shall be tried on indictment,

• (5) An offence under any enactment of the Customs Acts, other than an enactment referred to in the foregoing subsections of this section, shall be tried on indictment if the penalty exceeds or may exceed £500.

45 Making of customs entry and payment of duties on imported aircraft and ships.

45.—(1) A person who imports an aircraft, ship, boat or other vessel liable, on importation, to a duty of customs or a duty of excise shall himself, or by his agent, within 7 days of the time of the importation—

• (a) make customs entry thereof by delivering to the proper Officer of Customs and Excise an entry thereof in such form and manner as is directed under section 55 of the Customs Consolidation Act, 1876, and

• (b) pay any such duties payable thereon.

• (2) A person who contravenes subsection (1) of this section shall be guilty of an offence under the Customs Acts and shall be liable, on conviction to a penalty of £500 and the aircraft, ship, boat or other vessel in relation to which the offence was committed shall be forfeited.

46 Confirmation of Orders.

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

TABLE

S.I. No. 127 of 1975	Imposition of Duties (No. 218) (Customs Duties and Form of Customs Tariff) Order, 1975.
S.I. No. 131 of 1975	Imposition of Duties (No. 219) (Customs Duties and Form of Customs Tariff) Order, 1975.
S.I. No. 307 of 1975	Imposition of Duties (No. 221) (Excise Duties) Order, 1975.
S.I. No. 320 of 1975	Imposition of Duties (No. 222) (Customs Duties and Form of Customs Tariff) Order, 1975.
S.I. No. 324 of 1975	Imposition of Duties (No. 223) (Footwear) Order, 1975.

PART III Stamp Duties

47 Extension of time for claiming repayment of certain stamp duties.

47.—(1) The Revenue Act, 1898, is hereby amended by the substitution for section 13 of the following section:

“13. In the provisions of sections 9, 10 and 12 of the Stamp Duties Management Act, 1891, which deal with the periods within which applications under those sections must be made ‘6 years’ shall be substituted for ‘two years’”.

• (2) Subsection (5) of section 49 and the proviso to subsection (4) of section 50 of the Finance Act, 1969, are hereby amended by the substitution of “6 years” for “two years”, and the said subsection (5) and the said proviso, as so amended, are set out in the Table to this subsection.

TABLE

• (5) In each such case as is referred to in subsection (4) of this section, the Revenue Commissioners may repay the duty charged on the instrument, provided that the application for exemption and repayment is made within 6 years after the date of the instrument.

Provided that the application for repayment is made within 6 years after the date of the decrease in the consideration.

48 Amendment of section 49 (exemption of certain instruments from stamp duty) of Finance Act, 1969.

48.—Section 49 of the Finance Act, 1969, is hereby amended by the substitution for subsections (2) and (3) of the following subsections—

• “(2) With effect on and from the 1st day of January, 1976, subsection (1) of this section shall have effect in relation to an instrument if, but only if, it is shown to the satisfaction of the Revenue Commissioners that the Minister for Local Government has certified that he is satisfied that the house to which the instrument relates complies or, on the basis of evidence submitted to him, will comply, with the requirements of one of the following sections, namely, sections 2 and 7 of the Housing (Loans and Grants) Act, 1962, and sections 15 to 18 and 20 of the Housing Act, 1966, in relation to the making of a grant in respect of the house under the section.

• (3) Stamp duties shall not be chargeable in the case of a conveyance, transfer or lease of a house by a local authority under the provisions of the Housing Act, 1966, or of a conveyance, transfer or lease of a house by a society registered under the Industrial and Provident Societies Acts, 1893 to 1966, and made, in accordance with a scheme for the provision of houses for its members, to a member or to such member and the spouse of the member.”.

PART IV Value-Added Tax

49 Commencement.

49.—This Part, other than sections 51, 52, 54 to 59 and 62, shall be deemed to have come into operation as on and from the 1st day of March, 1976.

50 Definitions (Part IV).

50.—In this Part—

“the Act of 1973” means the Finance Act, 1973;

“the Principal Act” means the Value-Added Tax Act, 1972.

51 Amendment of section 3 (delivery of goods) of Principal Act.

51.—Section 3 of the Principal Act is hereby amended by the substitution of the following paragraph for paragraph (e) of subsection (1):

• “(e) the application by a person for the purposes of his business of the goods, being goods which were developed, constructed, assembled, manufactured, produced, extracted or imported by him or by another person on his behalf, except where tax chargeable in relation to the goods would, if they had been delivered to the first-mentioned person by an accountable person, be wholly deductible under section 12, and”.

52 Amendment of section 10 (amount on which tax is chargeable) of Principal Act.

52.—Section 10 of the Principal Act is hereby amended by the insertion after subsection (6) of the following subsection:

• “(6A)

  • (a) In this subsection ‘duty’ means an excise duty chargeable on the importation, manufacture or production of goods or a customs duty.

  • (b) The amount on which tax is chargeable on the delivery of goods liable to duty shall, where the delivery is made before the duty falls due, be increased by an amount equal to the amount of duty that would be payable in relation to the goods if the duty had become due at the time of the delivery.”.

53 Amendment of section 11 (rates of tax) of Principal Act.

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

• (a) by the substitution in subsection (1) of the following paragraph for paragraph (a) (inserted by the Act of 1973):

• “(a) 10 per cent. of the appropriate amount of any consideration 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) by the substitution of the following paragraphs for paragraphs (c), (d) and (e) of subsection (1):

• “(c) (i) 35 per cent. of the appropriate amount of any consideration which relates to the delivery of goods of a kind specified in Part I of the Fourth Schedule,

• (ii) 40 per cent. of the appropriate amount of any consideration which relates to the delivery of goods of a kind specified in Part II of the Fourth Schedule,

• (d) zero per cent. of the appropriate amount of any consideration which relates to the delivery of any goods in the circumstances specified in paragraph (i), (v) or (xvi) of the Second Schedule or the delivery of goods of a kind specified in paragraphs (vi) to (viii), (xii) to (xv) and (xvii) to (xx) of that Schedule or the rendering of services of a kind specified in that Schedule, and

• (e) 20 per cent. of the appropriate amount of any consideration which relates to the delivery of any other goods or the rendering of any other services.”,

• (c) by the substitution of the following subsection for subsection (7)—

• “(7)

  • (a) Sections 8 (3) and 14 shall not apply to a person in so far as he is chargeable with tax in respect of the promotion of a dance, and the promotion of a dance or a series of dances by a person shall be deemed, for the purposes of this Act, to be a separate business carried on by such person.

  • (b) Notwithstanding subsection (1) and section 10, tax shall, in relation to the promotion of a dance, be charged at the rate specified in subsection (1) (a) on the total amount of money, excluding tax, received or receivable from persons admitted to the dance in respect of admission together with the total amount of money (if any), excluding tax, received or receivable in respect of—

    • (i) goods of a kind specified in paragraph (e) (i) delivered, or

    • (ii) services of a kind specified in paragraph (e) (ii) rendered, in connection with the dance where payment of the consideration in respect thereof is a condition of admission to the dance and is not included in the consideration in respect of admission.

  • (c) Every person who intends to promote a dance or a series of dances shall notify the Revenue Commissioners in accordance with regulations of his intention to do so.

  • (d) The proprietor of any premises shall not promote a dance therein, or allow a dance to be promoted therein by any other person, unless he has received notice from the Revenue Commissioners that they have been notified in accordance with paragraph (c).

  • (e) In this subsection—

  ‘the promotion of a dance’ includes—

  - (i) the delivery in connection with the dance of any goods to which, but for this subsection, subsection (1) (*a*) or subsection (1) (*d*) would apply where payment of the consideration for such delivery is included in the consideration in respect of admission to the dance or is a condition of admission,
  
  - (ii) the rendering in connection with the dance of any services to which, but for this subsection, subsection (1) (*a*) or subsection (1) (*d*) would apply where payment of the consideration for such rendering is included in the consideration in respect of admission to the dance or is a condition of admission;
  
    ‘dance’ does not include a dance the number of persons to be admitted to which is limited to one hundred and the consideration for admission to which does not exceed twenty pence.”.
  

54 Amendment of section 12 (deduction for tax borne or paid) of Principal Act.

54.—Section 12 of the Principal Act is hereby amended by the substitution for paragraph (d) of and the proviso to subsection (1) of the following :

• “(d) the tax chargeable during such period in respect of goods applied for the purposes of his business and treated as delivered in accordance with section 3 (1) (e):

Provided that, in relation to—

• (i) the application of any goods of a kind specified in the Fourth Schedule by a person for the purposes of his business and treated as delivered in accordance with section 3 (1) (e),

• (ii) the delivery (otherwise than by virtue of section 3 (1) (e)) of any goods of a kind specified in the Fourth Schedule delivered to a manufacturer of goods of the kind so delivered, being goods applied by him for the purposes of his business otherwise than as stock-in-trade (within the meaning of section 34), or

• (iii) the delivery (otherwise than by virtue of section 3 (1) (e)) or importation of any goods of a kind specified in the Fourth Schedule delivered to or imported by a person other than a manufacturer of goods of the kind so delivered or imported,

the amount deductible under this section by any such person shall not exceed a sum representing tax at the rate for the time being specified in section 11 (1) (a) on the amount or value, as the case may be, on which tax was chargeable in respect of the application, delivery or importation in question.”.

55 Amendment of section 15 (charge of tax on imported goods) of Principal Act.

55.—Section 15 of the Principal Act is hereby amended by the substitution of the following paragraph for paragraph (a) of subsection (4):

• “(a) Subject to paragraph (b), the value of any goods for the purpose of this section shall be their value as ascertained in accordance with Regulation 14 of the European Communities (Customs) Regulations, 1972, increased by the amount of any duty, levy or other tax (excluding value-added tax) payable in relation to their importation.”.

56 Amendment of section 21 (interest) of Principal Act.

56.—Section 21 of the Principal Act is hereby amended by the substitution for paragraph (b) of subsection (2) of the following paragraph:

• “(b) to tax recoverable by virtue of a notice under section 23 as if (whether a notice of appeal under that section is received or not) the tax were tax which the person was liable to pay for the taxable period or, as the case may be, the later or latest taxable period included in the period comprised in the notice.”.

57 Amendment of section 26 (penalties generally) of Principal Act.

57.—Section 26 of the Principal Act is hereby amended by the substitution for paragraph (d) of subsection (6) of the following paragraphs:

• “(d) a certificate signed by an officer of the Revenue Commissioners which certifies that he has inspected the relevant records of the Revenue Commissioners and that it appears from them that, during a stated period, the defendant was an accountable person or was a registered person or was not a registered person shall be evidence until the contrary is proved that, during that period, the defendant was an accountable person or was a registered person or was not a registered person, as the case may be,

• (e) a certificate certifying as provided for in paragraph (a), (b), (c) or (d) and purporting to be signed by an officer of the Revenue Commissioners may be tendered in evidence without proof and shall be deemed, until the contrary is proved, to have been signed by an officer of the Revenue Commissioners.”.

58 Amendment of section 32 (regulations) of Principal Act.

58.—Section 32 of the Principal Act is hereby amended by the insertion in subsection (1), after paragraph (u), of the following paragraph:

• “(uu) the adjustments to be made by an accountable person of any apportionment referred to in paragraph (x) or deduction under section 12 previously made, being adjustments by reference to changes, occurring not later than five years from the end of the taxable period to which the original apportionment or deduction relates, in any of the matters by reference to which the apportionment or deduction was made or allowed, and the determination of the taxable period in and from which or in which any such adjustment is to take effect;”.

59 Amendment of section 34 (relief for stock-in-trade held on the specified day) of Principal Act.

59.—Section 34 of the Principal Act is hereby amended by the substitution of the following paragraph for paragraph (a) of subsection (5):

• “(a) movable goods of a kind that are delivered by the person in the ordinary course of his business being goods which are actually held for delivery (otherwise than by virtue of section 3 (1) (e)) or which would be so held if they were mature or if their manufacture, preparation or construction were complete, or”.

60 Substitution of new schedules for First, Second, Third and Fourth Schedules (exempted activities and rates of tax) to Principal Act.

60.—The Principal Act is hereby amended by—

• (a) the substitution for the First Schedule thereto of the Schedule contained in Part I of the Table to this section,

• (b) the substitution for the Second Schedule thereto of the Schedule contained in Part II of the said Table,

• (c) the substitution for the Third Schedule thereto of the Schedule contained in Part III of the said Table, and

• (d) the substitution for the Fourth Schedule thereto of the Schedule contained in Part IV of the said Table.

TABLE

PART I

FIRST SCHEDULE

Exempted Activities

• (i) Supply of stocks, shares and other securities;

• (ii) supply of unused Irish postal, fiscal or social insurance stamps; or other stamps, coupons or tokens when supplied as things in action for a money consideration which is charged separately from the consideration for any goods or other services supplied in conjunction with the supply of such things in action and which is reasonable having regard to the exchange value of such things in action;

• (iii) delivery of water by local authorities;

• (iv) letting of immovable goods with the exception of—

• (a) letting of machinery or business installations when let separately from any other immovable goods of which such machinery or installations form part,

• (b) letting in the course of carrying on a hotel business, and

• (c) provision of parking accommodation for vehicles by the operators of car parks;

• (v) provision of board and lodging otherwise than in the course of carrying on a hotel business;

• (vi) services provided by the State or by a local authority other than the construction, repair, maintenance and improvement of roads, harbours and sewerage works;

• (vii) services given in return for wages and salaries in respect of which income tax is chargeable under Schedule E of the Income Tax Act, 1967;

• (viii) professional services of a medical, dental, optical or educational nature other than services rendered in the course of carrying on a business which consists in whole or in part of selling goods;

• (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;

• (x) services rendered in the course of their profession by solicitors, accountants, actuaries and veterinary surgeons;

• (xi) services rendered in the course of their profession by barristers;

• (xii) agency services in regard to—

• (a) the arrangement of passenger transport or accommodation for persons,

• (b) the delivery of goods sold by a house agent, or by an auctioneer in such circumstances that the goods are not regarded as delivered by the auctioneer,

• (c) the collection of debts, rents or insurance premiums, and

• (d) the rendering of other exempt services;

• (xiii) banking and insurance services;

• (xiv) lending money or affording credit otherwise than by means of hire-purchase or credit-sale transactions;

• (xv) the national broadcasting and television services, excluding advertising;

• (xvi) transport in the State of passengers and their accompanying baggage;

• (xvii) betting;

• (xviii) the issue of tickets or coupons for the purpose of a lottery;

• (xix) admissions to zoological gardens;

• (xx) the promotion of and admissions to sporting events and agricultural, commercial or industrial fairs, shows or exhibitions;

• (xxi) the collection, storage and supply of human blood;

• (xxii) funeral undertaking;

• (xxiii) valuation services rendered by an auctioneer, house agent or chartered surveyor;

• (xxiv) delivery of live horses;

• (xxv) delivery of live greyhounds;

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

PART II

SECOND SCHEDULE

Goods and Services Chargeable at the Rate of Zero Per Cent.

• (i) Goods delivered—

• (a) outside the State, or

• (b) inside the State but subject to a condition that they are to be transported directly by or on behalf of the person making the delivery—

• (I) outside the State, or

• (II) to a registered person within the customs-free airport;

• (ii) services rendered outside the State;

• (iii) the carriage of goods in the State by or on behalf of a person in execution of a contract to transfer the goods to or from a place outside the State;