Finance Act 2012

113.— (1) Section 77(3) of the Principal Act is amended by substituting “the Chester Beatty Library, the Crawford Art Gallery Cork, the Irish Museum of Modern Art, the National Archives, the National Concert Hall, the National Gallery of Ireland, the National Library of Ireland, the National Museum of Ireland,” for “the National Gallery of Ireland, the National Museum of Science and Art or any other similar national institution,”.

(2) Section 78(7) of the Principal Act is amended by substituting “the Chester Beatty Library, the Crawford Art Gallery Cork, the Irish Museum of Modern Art, the National Archives, the National Concert Hall, the National Gallery of Ireland, the National Library of Ireland, the National Museum of Ireland,” for “the National Gallery of Ireland, the National Museum of Science and Art or any other similar national institution,”.

(3) This section applies to sales occurring on or after 8 February 2012.

114. Amendment of section 89 (provisions relating to agricultural property) of Principal Act.

114.— (1) Section 89 of the Principal Act is amended—

(a) by inserting the following after subsection (1):

“(1A) For the purpose of paragraph (a) of the definition of ‘farmer’ in subsection (1), a loan secured on the dwelling-house referred to in that paragraph which is not used to purchase, repair or improve that dwelling-house will not be treated as a debt or an encumbrance.”,

and

(b) in subsection (4) by deleting paragraph (c).

(2) This section applies to gifts and inheritances taken on or after 8 February 2012.

115. Modernisation of capital acquisitions tax administration: miscellaneous amendments.

115.— (1) Section 45AA of the Principal Act is amended—

(a) in subsection (1) by deleting “, and the solicitor referred to in section 48(10),”,

(b) by inserting the following after subsection (1):

“(1A) The solicitor referred to in section 48(10) shall be assessable and chargeable for the tax payable by the person or persons referred to in paragraph (a) of that subsection to the same extent that those persons are chargeable to tax under section 11.”,

(c) in subsection (2) by inserting “and subsection (1A)” after “subsection (1)”,

(d) in subsections (2), (3) and (4) by inserting “and subsection (10)(a) of section 48” after “subsection (1)(a)” in each place it occurs, and

(e) in subsection (4) by substituting “paragraph (b) of that subsection and subsection (10)(a) of section 48” for “paragraph (b) of that subsection”.

(2) Section 46 of the Principal Act is amended by inserting the following after subsection (2B):

“(2C) In the case of inheritances referred to in sections 15(1) and 20(1), returns shall be delivered and tax shall be paid within 4 months of the valuation date of such inheritances.”.

(3) Section 51 of the Principal Act is amended by substituting the following for subsection (5):

“(5) A payment of tax by an accountable person is treated as a payment on account of tax for the purposes of this section, notwithstanding that the payment may be conditional or that the assessment of tax is incorrect.”.

(4) Section 57 of the Principal Act is amended in subsection (3) by substituting “commencing on 31 October in the year in which that tax was due to be paid in accordance with section 46(2A).” for “commencing on the valuation date or the date of payment of the tax concerned (where that tax has been paid within 4 months after the valuation date).”.

(5) Part 1 of Schedule 2 to the Principal Act is amended by deleting paragraph 5.

(6) Notwithstanding subsection (4) of section 147 of the Finance Act 2010, subsection (1)(p) of that section shall be deemed to have applied on and from 14 June 2010 (being the appointed day for the purposes of subsection (4)(b) of that section).

(7) Subsections (1) to (5) apply on and from 8 February 2012.

116. Amendment of provision relating to payment of tax and filing return and consequential amendments.

116.— (1) The Principal Act is amended—

(a) in section 46(2A) by substituting “31 October” for “30 September” in each place,

(b) in section 51(2)(a) by substituting “1 November” for “1 October” in each place, and

(c) in section 53A(1) by substituting “31 October” for “30 September” in each place.

(2) This section applies on and from 8 February 2012.

PART 6 Miscellaneous

117. Interpretation (Part 6).

117.— In this Part “Principal Act” means the Taxes Consolidation Act 1997.

118. Amendment of section 886 (obligation to keep certain records) of Principal Act.

118.— Section 886 of the Principal Act is amended—

(a) in subsection (4)(a) by substituting “Notwithstanding any other law” for “Subject to paragraph (b)”,

(b) in subsection (4) by substituting the following for paragraph (b):

“(b) Paragraph (a) shall not require the retention of linking documents and records in respect of which the inspector notifies in writing the person who is required to retain them that retention is not required.”,

(c) by inserting the following after subsection (4)—

“(4A) For the purposes of this section—

(a) where a company is wound up, the liquidator, and

(b) where a company is dissolved without the appointment of a liquidator, the last directors, including any person occupying the position of director by whatever name called, of the company,

shall keep or retain the linking documents and records of the company for the period specified in subparagraph (i) or (ii), as appropriate, of subsection (4)(a).”,

and

(d) in subsection (5) by substituting “Any person who fails to comply with subsection (2), (3), (4) or (4A)” for “Any person who fails to comply with subsection (2), (3) or (4)”.

119. Amendment of section 912A (information for tax authorities in other countries) of Principal Act.

119.— Section 912A of the Principal Act is amended—

(a) in subsection (2) by substituting “902A, 905,” for “902A,”, and

(b) by substituting the following for subsection (3):

“(3) Where sections 902A, 905, 907 and 908 have effect by virtue only of this section, they shall have effect as if the references in those sections to—

(a) tax, were references to foreign tax, and

(b) any provision of the Acts, were references to any provision of the law of a territory in accordance with which foreign tax is charged or collected.”.

120. Amendment of section 851A (confidentiality of taxpayer information) of Principal Act.

120.— Section 851A of the Principal Act is amended—

(a) in subsection (1), in the definition of “the Acts”, by inserting the following after paragraph (a):

“(aa) the Customs Acts,”,

and

(b) in subsection (7)(a) by substituting “taxpayer information” for “personal information”.

121. Returns of certain information by investment undertakings.

121.— The Principal Act is amended—

(a) in section 891B(1) by deleting the definition of “collective fund”,

(b) in section 891B(1) in paragraph (a) of the definition of “relevant payment” by deleting “, a collective fund”,

(c) in section 891B(1) in the definition of “relevant person”—

(i) in paragraph (b) by substituting “financial institution, or” for “financial institution,”, and

(ii) by deleting paragraph (c),

(d) in section 891B(7)(b)(ii) by deleting “a person who does not comply with”, and

(e) by inserting the following after section 891B:

“Returns of certain information by investment undertakings.

891C.— (1) In this section—

(a) ‘investment undertaking’ has the same meaning as in section 739B(1) but does not include a common contractual fund within the meaning of section 739I;

(b) ‘unit’ and ‘unit holder’ have the same meanings respectively as in section 739B(1);

(c) ‘tax reference number’ has the same meaning as in section 891B(1).

(2) A reference in this section to a regulation or regulations shall be construed as a reference to a regulation or regulations made under subsection (3).

(3) The Revenue Commissioners, with the consent of the Minister for Finance, may by regulations provide that an investment undertaking be required—

(a) to make to the Revenue Commissioners a return of information relating to units of the investment undertaking concerned by reference to such date or dates, other than a date before 1 January 2012, as may be specified in the regulations, and

(b) subject to subsection (5)(a)(vi), to include in any such return the tax reference numbers of the unit holders at that time.

(4) Information in relation to units shall not be included in a return to be made under regulations if information in relation to such units is included or would be liable to be included in a return made in accordance with Chapter 3A.

(5) For the purposes of this section—

(a) the provisions of subsection (4) of section 891B shall apply subject to the following modifications and any other necessary modifications:

(i) in paragraph (a) by substituting ‘investment undertaking’ for ‘specified person’;

(ii) in paragraph (d) by substituting ‘the value of units’ for ‘the kind or kinds of relevant payments’;

(iii) by substituting the following for paragraph (e):

‘(e) defining, for the purposes of determining the unit holders or classes of unit holders to be included in a return to be made under regulations, the unit holders or classes of unit holders’;

(iv) by substituting the following for paragraph (f):

‘(f) determining for the purposes of including unit holders in a return to be made under regulations, the identity and place of residence or establishment of a unit holder’;

(v) in paragraph (g) by substituting ‘unit’ for ‘relevant payment’;

(vi) in paragraph (h)—

(I) by substituting the following for subparagraph (i):

‘(i) investment undertakings to obtain a tax reference number from unit holders—

(I) with whom they enter into contractual relationships, or

(II) for whom they undertake any transaction,

on or after a date specified in regulations, which shall not be earlier than the date such regulations come into force, for the purposes of including that number in a return under regulations, and’,

and

(II) in subparagraph (ii)—

(A) by substituting ‘investment undertaking’ for ‘specified person’ in each place,

(B) by substituting ‘unit holders’ for ‘customers’ in each place, and

(C) by deleting ‘where the relationship or transaction may give rise to a relevant payment’,

and

(vii) in paragraph (k) by substituting ‘units and the unit holders’ for ‘relevant payments and the persons to whom such payments were made’,

and

(b) the provisions of subsections (6) and (7) of section 891B shall apply subject to the modification that references in those subsections to ‘person’, ‘relevant person’ or ‘specified person’, as the case may be, shall be construed, where the context admits, as references to ‘investment undertaking’.

(6) Every regulation made shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the regulation is passed by Dáil Éireann within the next 21 days on which Dáil Éireann has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.”.

122. Returns of payment transactions by payment settlers.

122.— The Principal Act is amended by inserting the following after section 891C (inserted by section 121):

“891D.— (1) In this section—

‘authorised officer’ means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this section;

‘central organisation’ has the meaning assigned in the definition of ‘electronic payment network’;

‘electronic network transaction’ means any transaction which is settled through an electronic payment network;

‘electronic payment facilitator’ means any person, other than a payment settlement entity, acting on behalf of a payment settlement entity who submits instructions to transfer funds to the account of the merchant to settle the reportable payment transaction;

‘electronic payment network’ means any agreement or arrangement—

(a) which involves the establishment of accounts with a body (in this section referred to as a ‘central organisation’) by persons who—

(i) are unrelated to the central organisation,

(ii) provide goods or services, and

(iii) have agreed to settle transactions for the provision of such goods or services pursuant to such agreement or arrangement,

(b) which provides for standards and mechanisms for settling such transactions, and

(c) which guarantees persons providing goods or services pursuant to such agreement or arrangement that such persons will be paid for providing such goods or services,

but does not include any agreement or arrangement which provides for the issue of payment cards;

‘electronic settlement organisation’ means the central organisation which has the contractual obligation to make payment to merchants of electronic network transactions;

‘merchant’ means—

(a) in the case of a payment card transaction, any person having an address in the State who accepts a payment card as payment, and

(b) in the case of an electronic network transaction, any person having an address in the State who accepts payment from an electronic settlement organisation in settlement of such transaction;

‘merchant acquirer’ means the person who has the contractual obligation to make payment to merchants in settlement of payment card transactions;

‘payment card’ means any card which is issued pursuant to an agreement or arrangement which provides for—

(a) one or more issuers of such cards,

(b) a network of persons unrelated to each other, and to the issuer, who agree to accept such cards as payment, and

(c) standards and mechanisms for settling the transactions between the merchant acquirers and the persons who agree to accept such cards as payment,

and the acceptance as payment of any account number or other indicators associated with a payment card shall be treated for the purposes of this section in the same manner as accepting such payment card as payment;

‘payment card transaction’ means any transaction in which a payment card is accepted as payment;

‘payment settlement entity’ means—

(a) in the case of a payment card transaction, the merchant acquirer, and

(b) in the case of an electronic network transaction, the electronic settlement organisation;

‘PPS Number’, in relation to an individual, means the individual’s personal public service number (within the meaning of section 262 of the Social Welfare Consolidation Act 2005);

‘reportable payment transactions’ means, subject to regulations, any payment card transaction and any electronic network transaction;

‘services’, in relation to an electronic payment network, includes making arrangements directly or indirectly for persons to make voluntary payments with or without consideration for the benefit, in whole or in part, of another person;

‘tax reference number’, in relation to a person, means—

(a) in the case of a person who is an individual, the individual’s PPS Number, and

(b) in any other case—

(i) the reference number stated on any return of income form or notice of assessment issued to the person by a Revenue officer, or

(ii) the registration number of that person for the purposes of the Value-Added Tax Acts.

(2) The Revenue Commissioners may by regulations provide that a payment settlement entity be required—

(a) to make to the Revenue Commissioners an electronic return for or by reference to such year or years, other than a year earlier than 2010, of reportable payment transactions and such other information as may be specified in the regulations, and

(b) subject to subsection (4)(b), to include in any such return the tax reference numbers of merchants included in the return.

(3) Without prejudice to the generality of subsection (2), regulations may, in particular, provide for—

(a) determining the date by which a return required to be made under the regulations shall be made to the Revenue Commissioners,

(b) prescribing the manner in which returns are to be made,

(c) specifying the type of reportable payment transactions to be included in the return,

(d) imposing an obligation on payment settlement entities to request, on or after a date specified in regulations, a tax reference number from merchants, which date shall not be earlier than the date such regulations come into force, for the purposes of including that number in a return under regulations,

(e) imposing an obligation on every merchant to provide the payment settlement entity concerned with the relevant tax reference number upon request being made by such payment settlement entity, and

(f) specifying the details relating to the reportable payment transactions to be included in the return, including, but not limited to, the following—

(i) account and reference numbers,

(ii) information concerning the business or service conducted by the merchant,

(iii) information relating to the terminals used by the merchant, such as the number of terminals in use, the serial numbers of such terminals and the location of such terminals,

(iv) information relating to the merchant, including name, address, email address and contact numbers, and

(v) bank account information of merchants to and from which funds are transferred by the payment settlement entity.

(4) (a) A payment settlement entity shall make all reasonable efforts to obtain from a merchant that person’s tax reference number and the merchant shall provide to the payment settlement entity his or her tax reference number.

(b) Where the tax reference number provided for the purposes of this section is an individual’s PPS Number, the payment settlement entity shall only use that number (as so provided) for the purpose of including it in the return to be made under subsection (2) and for no other purpose.

(5) An authorised officer may at all reasonable times enter any premises or place of business of a payment settlement entity for the purposes of—

(a) determining whether—

(i) information included in a return made by a payment settlement entity was correct and complete, or

(ii) information not included in such a return was correctly not so included,

or

(b) examining the procedures put in place by that payment settlement entity for the purposes of ensuring compliance with that person’s obligations under this section.

(6) (a) Section 898O shall apply to—

(i) a failure by a payment settlement entity to deliver a return, and to each and every such failure, and

(ii) the making of an incorrect or incomplete return,

as it applies to a failure to deliver a return or to the making of an incorrect or incomplete return referred to in section 898O.

(b) A payment settlement entity which does not comply with—

(i) the requirements of an authorised officer in the exercise or performance of the officer’s powers or duties under this section or under regulations, or

(ii) any requirement imposed on the payment settlement entity by regulations made under subsection (2),

shall be liable to a penalty of €3,000.”.

123. Amendment of section 898K (special arrangements for certain securities) of Principal Act.

123.— The Principal Act is amended in section 898K—

(a) by substituting the following for subsection (3):

“(3) This section shall cease to apply as on and from 31 December 2011.”,

and

(b) by deleting subsection (4).

124. Amendment of section 1077E (penalty for deliberately or carelessly making incorrect returns, etc.) of Principal Act.

124.— Section 1077E of the Principal Act is amended in subsection (1), in the definition of “the Acts”, by substituting “Parts 18A, 18B, 18C and 18D” for “Parts 18A and 18B”.

125. Power of Collector-General to require certain persons to provide return of property.

125.— Part 42 of the Principal Act is amended—

(a) in section 960A by substituting “Chapters 1B, 1C and 1D” for “Chapters 1B and 1C”,

(b) in section 960B by substituting “Chapters 1B, 1C and 1D” for “Chapters 1B and 1C”, and

(c) by inserting the following after Chapter 1C:

Power to require statement of affairs, security, etc.

960R.— (1) In this section—

‘asset’ includes any interest in an asset;

‘prescribed’ means prescribed by the Revenue Commissioners;

‘specified date’, in relation to a notice under subsection (3), means the date specified in the notice.

(2) For the purposes of this section, the cost of acquisition to a person of an asset shall include—

(a) the amount or value of the consideration, in money or money’s worth, given by the person or on the person’s behalf for the acquisition of the asset, together with the incidental costs to the person of the acquisition or, if the asset was not acquired by the person, any expenditure incurred by the person in acquiring the asset, and

(b) the amount of any expenditure incurred on the asset by the person or on that person’s behalf for the purpose of enhancing the value of the asset, being expenditure reflected in the state or nature of the asset at the specified date, and any expenditure incurred by the person in establishing, preserving or defending the person’s title to, or to a right over, the asset.

(3) Where tax is due and outstanding by a person and that person has failed to discharge that tax, the Collector-General may require—

(a) that person, by notice in writing given to that person, and

(b) where that person and his or her spouse or civil partner are jointly assessed to income tax under section 1017 or 1031C, that person’s spouse or civil partner, by notice in writing given to the spouse or civil partner,

to deliver to the Collector-General within such time specified in the notice or within such period as the Collector-General may allow a statement of affairs in the prescribed form as at the date specified in the notice.

(4) For the purposes of subsection (3), a request in writing by the Collector-General to clarify any matter contained in the statement of affairs shall be deemed to be a requirement to deliver a statement of affairs.

(5) In this section ‘statement of affairs’, in relation to a notice under subsection (3), means—

(a) where the person to whom notice is given is acting otherwise than in a representative capacity or as a trustee, a statement of all the assets wherever situated to which that person is beneficially entitled on the specified date and all the liabilities for which that person is liable on the specified date,

(b) where the person to whom notice is given is a person (‘the first-mentioned person’) acting in a representative capacity for a person (‘the second-mentioned person’), a statement of all the assets wherever situated to which the second-mentioned person is beneficially entitled which give rise to tax in respect of which the first-mentioned person is liable in a representative capacity or are assets in respect of which the first-mentioned person performed functions or duties in a representative capacity and all the liabilities for which the first-mentioned person is liable on the specified date,

(c) where the person to whom notice is given is a trustee of a trust, a statement of all the assets and liabilities comprised in the trust on the specified date, or

(d) where the person to whom notice is given is the spouse or civil partner referred to in section (3)(b), a statement of all assets wherever situated to which that spouse or civil partner is beneficially entitled on the specified date and all the liabilities for which that spouse or civil partner is liable on the specified date.

(6) Any assets to which a minor child of, or a minor child of the civil partner of, the person referred to in paragraph (a) or (b) of subsection (3) is beneficially entitled shall be included in that person’s statement of affairs under this section where—

(a) such assets at any time before their acquisition by the minor child were disposed of by that person whether to that minor child or not, or

(b) the consideration for the acquisition of such assets by the minor child was provided directly or indirectly by that person.

(7) A statement of affairs delivered under this section shall contain in respect of each asset included in the statement—

(a) a full description,

(b) its location on the specified date,

(c) the cost of acquisition to the person beneficially entitled to that asset,

(d) the date of acquisition,

(e) if it was acquired otherwise than by means of a bargain at arm’s length, the name and address of the person from whom it was acquired and the consideration, if any, given to that person in respect of its acquisition, and

(f) details of all policies of insurance (if any) whereby the risk of any kind of damage or injury, or the loss or depreciation of the asset is insured.

(8) A statement of affairs delivered under this section shall, in the case of an asset which is an interest other than an absolute interest, contain particulars of the title under which the beneficial entitlement arises.

(9) A statement of affairs delivered under this section shall be signed by the person by whom it is delivered and shall include a declaration by that person that it is to the best of that person’s knowledge, information and belief correct and complete.

(10) The Collector-General or an officer nominated by the Revenue Commissioners may require the declaration referred to in subsection (9) to be made on oath.”.

126. Security for certain taxes.

126.— (1) The Principal Act is amended by inserting the following after section 960R (inserted by section 125):

“960S.— (1) In this section—

‘business’ means a business that was or is carried on by a company or partnership and includes a business that was or is carried on by an individual;

‘connected person’ means a person connected with another person within the meaning of section 10;

‘management of the business’ includes acting in a capacity such that the person was or is able, directly or indirectly, to control the management of that business either as a connected person or otherwise;

‘tax’ means—

(a) income tax deductible in accordance with Chapter 4 of Part 42 and any regulations made under that Chapter,

(b) tax deductible in accordance with Chapter 2 of Part 18 and any regulations made under that Chapter,

(c) universal social charge chargeable in accordance with Part 18D, or

(d) value-added tax chargeable in accordance with the Value-Added Tax Acts.

(2) The Collector-General may require a person carrying on a business to give security, or further security, of such amount and in such form as the Collector-General considers appropriate for the payment of tax that is, or may become, due from that person—

(a) where the person, in relation to a business that has ceased to trade, was involved in the management of the business and tax arose while the business was trading which has not been paid in full, or

(b) in relation to the current business, where tax due to be paid by that person has not been paid within 30 days of the due date for payment of the tax.

(3) Where a requirement under subsection (2) arises, the Collector-General shall cause a notice in writing to that effect to be served on the person.

(4) Where a person is served with a notice in accordance with subsection (3), it shall be an offence for that person to engage in business until such security, or further security, is provided to the Collector-General.

(5) Where a notice is served on a person in accordance with subsection (3), the person may, on giving notice to the Revenue Commissioners within the period of 30 days from the date of the service of the notice, appeal the requirement of giving any security under subsection (2) to the Appeal Commissioners.

(6) Where a person gives a notice of appeal in accordance with subsection (5), subsection (4) shall not apply until the Appeal Commissioners determine the matter.”.

(2) Section 1078(2) of the Principal Act is amended by inserting the following after paragraph (f):

“(fa) fails to comply with the requirement in section 960S(4),”.

127. Order to produce documents or provide information.

127.— The Principal Act is amended by inserting the following after section 908D:

“Order to produce documents or provide information.

908E.— (1) In this section and in section 908F—

‘authorised officer’ means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this section;

‘relevant offence’ means—

(a) an offence under section 186 of the Customs Consolidation Act 1876,

(b) an offence under section 139(5) of the Finance Act 1992,

(c) an offence under section 1056, 1078 or 1078A,

(d) an offence under subsection (1A), (1B) or (3) of section 102 of the Finance Act 1999,

(e) an offence under section 119 of the Finance Act 2001,

(f) an offence under section 79 of the Finance Act 2003,

(g) an offence under section 78 of the Finance Act 2005.

(2) For the purposes of the investigation of a relevant offence, an authorised officer may apply to a judge of the District Court for an order under this section in relation to—

(a) the making available by a person of any particular documents or documents of a particular description, or

(b) the provision by a person of particular information by answering questions or making a statement containing the information,

or both.

(3) On an application under subsection (2), a judge of the District Court, if satisfied by information on oath of the authorised officer making the application that—

(a) there are reasonable grounds for suspecting that a person has possession or control of particular documents or documents of a particular description,

(b) there are reasonable grounds for believing that the documents are relevant to the investigation of the relevant offence concerned,

(c) there are reasonable grounds for suspecting that the documents (or some of them) may constitute evidence of or relating to the commission of that relevant offence, and

(d) there are reasonable grounds for believing that the documents should be produced or that access to them should be given, having regard to the benefit likely to accrue to the investigation and any other relevant circumstances,

may order the person to—

(i) produce the documents to an authorised officer to take away and, if the judge considers it appropriate, to identify and categorise the documents to be so produced in the particular manner (if any) sought in the application or in such other manner as the judge may direct and to produce the documents in that manner, or

(ii) give such an officer access to them,

either immediately or within such period as the order may specify.

(4) On an application under subsection (2), a judge of the District Court, if satisfied by information on oath of the authorised officer making the application that—

(a) there are reasonable grounds for suspecting that a person has information which he or she has failed or refused without reasonable excuse to give to the authorised officer having been requested to do so,

(b) there are reasonable grounds for believing that the information is relevant to the investigation of the relevant offence concerned,

(c) there are reasonable grounds for suspecting that the information (or some of it) may constitute evidence of or relating to the commission of that relevant offence, and

(d) there are reasonable grounds for believing that the information should be provided, having regard to the benefit likely to accrue to the investigation and any other relevant circumstances,

may, subject to subsection (5), order the person to—

(i) provide the information to an authorised officer by answering the questions specified in the application or making a statement setting out the answers to those questions or both, and

(ii) make a declaration of the truth of the answers to such questions,

either immediately or within such period as the order may specify.

(5) The references in subsections (2)(b) and (4) to information that may be the subject of an order under this section are references to information that the person concerned has obtained in the ordinary course of business.

(6) An order under this section relating to documents in any place may, on the application of the authorised officer concerned under subsection (2), require any person, being a person who appears to the judge of the District Court to be entitled to grant entry to the place, to allow an authorised officer to enter it so as to obtain access to the documents.

(7) Where the documents concerned are not in legible form, an order under this section shall have effect as an order—

(a) to give to an authorised officer any password necessary to make the documents legible and comprehensible,

(b) otherwise to enable the authorised officer to examine the documents in a form in which they are legible and comprehensible, or

(c) to produce the documents to the authorised officer in a form in which they can be removed and in which they are, or can be made, legible and comprehensible.

(8) An order under this section—

(a) in so far as it may empower an authorised officer to take away a document, or to be given access to it, shall also have effect as an order empowering the officer to make a copy of the document and to take the copy away,

(b) shall not confer any right to production of, or access to, any document subject to legal professional privilege, and

(c) shall have effect notwithstanding any other obligation as to secrecy or other restriction on disclosure of information imposed by statute or otherwise.

(9) (a) Where a document is, or may be, taken away by an authorised officer pursuant to an order under this section, any person to whom the order relates, or who is affected by the order, may request the authorised officer to permit the person to retain the document, or to have it returned to the person, while the officer takes or retains a copy of it.

(b) The authorised officer concerned may accede to a request under paragraph (a) but only if he or she is satisfied that—

(i) the document is required by the person for the purposes of his or her business or for some other legitimate purpose, and

(ii) the person undertakes in writing—

(I) to keep the document safely and securely, and

(II) when requested by the authorised officer to do so, to furnish it to the authorised officer in connection with any criminal proceedings for which it is required.

(c) A failure or refusal by a person to comply with an undertaking given by him or her under paragraph (b)(ii) shall not prejudice the admissibility in evidence in any criminal proceedings of a copy of the document concerned.

(10) Any documents taken away by an authorised officer pursuant to an order under this section may be retained by the officer for use as evidence in any criminal proceedings.

(11) A statement or admission made by a person pursuant to an order under this section shall not be admissible as evidence in proceedings brought against the person for an offence (other than an offence under subsection (16), (17) or (18)).

(12) (a) An order under this section providing that documents be produced, or that access to them be given, by a person may, if the judge of the District Court considers it appropriate to do so, require the person to furnish a certificate to an authorised officer affirming—

(i) the authenticity of the documents, and

(ii) in the case of documents in non-legible form that are reproduced in legible form, the system and manner of that reproduction,

either when the documents are produced, or access to them is given, or at such time thereafter as may be specified in the order.

(b) The Revenue Commissioners may make regulations for the purposes of this subsection specifying the manner in which documents of different types or classes, or copies of them, may be authenticated.

(13) Where a person who produces documents pursuant to an order under this section claims a lien on those documents or some of them, the production shall be without prejudice to the lien.

(14) A judge of the District Court may, on the application of any person to whom an order under this section relates or an authorised officer, vary or discharge the order.

(15) A judge of the District Court may, on the application of any person who is affected by an order under this section whose request for the return of documents under subsection (9) has not been acceded to, make an order regarding the return of the documents concerned to that person if the judge considers it appropriate to do so subject to such conditions (if any) as the judge may direct.

(16) A person who without reasonable excuse fails or refuses to comply with an order under this section shall be guilty of an offence and shall be liable—

(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months or both, or

(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 2 years or both.

(17) A person who, in purported compliance with an order under this section provides information or makes a statement which is false or misleading in a material particular knowing it to be so false or misleading, or being reckless as to whether it is so, shall be guilty of an offence and shall be liable—

(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months or both, or

(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 2 years or both.

(18) A person who without reasonable excuse fails or refuses to comply with an undertaking given by him or her under subsection (9)(b)(ii) shall be guilty of an offence and shall be liable on summary conviction to a class A fine or imprisonment for a term not exceeding 12 months or both.

(19) An application for an order under subsection (2) shall be made to a judge of the District Court who is assigned to the district court district in which the documents sought are located or the person from whom the documents or information are sought ordinarily resides or carries on any profession, business or occupation or, if that person is a company (within the meaning of the Companies Acts), the district court district in which the registered office of the company is situated or the company carries on any business.

(20) Nothing in this section shall affect the operation of a provision in any other enactment under which a court may order a person to produce any documents to a person in connection with the investigation of an offence.

Privileged legal material.

908F.— (1) In this section ‘privileged legal material’ means a document which, in the opinion of the court concerned, a person is entitled to refuse to produce or to give access to it on the grounds of legal professional privilege.

(2) If a person refuses to produce a document or give access to it pursuant to an order of a judge of the District Court under section 908E on the grounds that the document is privileged legal material, an authorised officer may apply to a judge of that Court for a determination as to whether the document is privileged legal material.

(3) A person who refuses to produce a document or give access to it pursuant to an order of a judge of the District Court under section 908E on the grounds that the document is privileged legal material may apply to a judge of the District Court for a determination as to whether the document is privileged legal material.

(4) A person who refuses to produce a document or give access to it pursuant to an order of a judge of the District Court under section 908E on the grounds that the document is privileged legal material shall preserve the document and keep it in a safe and secure place pending the determination of an application under subsection (2) or (3) and shall, if it is so determined not to be privileged legal material, produce it in accordance with the order.

(5) Pending the making of a final determination of an application under subsection (2) or (3), the judge of the District Court may give such interim or interlocutory directions as the judge considers appropriate including, without prejudice to the generality of the foregoing, in a case in which the volume of documents that are the subject of the application is substantial, directions as to the appointment of a person with suitable legal qualifications possessing the level of experience, and the independence from any interest falling to be determined between the parties concerned, that the judge considers to be appropriate for the purpose of—

(a) examining the documents, and

(b) preparing a report for the judge with a view to assisting or facilitating the judge in the making by him or her of his or her determination as to whether the documents are privileged legal material.

(6) An application under subsection (2), (3) or (5) may, if the judge of the District Court so directs, be heard otherwise than in public.

(7) Notice of an application under subsection (2) shall be served on the person to whom the order concerned relates and notice of an application under subsection (3) shall be served on the authorised officer who seeks to compel the production of the document concerned or to be given access to it.

(8) An appeal against the determination of a judge of the District Court under this section shall lie to the Circuit Court and no further appeal shall lie from an order of the Circuit Court made on an appeal under this section.

(9) Rules of court may make provision for the expeditious hearing of applications to a judge of the District Court, and any appeals against the determinations of such a judge, under this section.”.

128. Repayments and offsets of tax.

128.— (1) Part 37 of the Principal Act is amended—

(a) in section 865(1)(a) by substituting the following for the definition of “the Acts”:

“ ‘Acts’ means the Tax Acts, the Capital Gains Tax Acts, Part 18A, Part 18C and Part 18D and instruments made thereunder;”,

(b) in section 865(1)(a) by substituting the following for the definition of “tax”:

“ ‘tax’ means any income tax, corporation tax, capital gains tax, income levy, domicile levy or universal social charge and includes—

(i) any interest, surcharge or penalty relating to any such tax, levy or charge,

(ii) any sum arising from the withdrawal or clawback of a relief or an exemption relating to any such tax, levy or charge,

(iii) any sum required to be deducted or withheld by any person and paid or remitted to the Revenue Commissioners or the Collector-General, as the case may be, and

(iv) any amount paid on account of any such tax, levy or charge or paid in respect of any such tax, levy or charge;”,

(c) in section 865(1)(b) by substituting the following for subclauses (A) and (B) of clause (I):

“(A) would arise out of the assessment to tax, made at the time the statement or return was furnished, on foot of the statement or return, or

(B) would have arisen out of the assessment to tax, that would have been made at the time the statement or return was furnished, on foot of the statement or return if an assessment to tax had been made at that time,”,

and

(d) by inserting the following new section after section 865A:

“No offset where repayment prohibited.

865B.— (1) In this section—

‘Acts’ means—

(a) the statutes relating to the duties of excise and to the management of those duties,

(b) the Tax Acts,

(c) the Capital Gains Tax Acts,

(d) Parts 18A, 18C and 18D,

(e) the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act,

(f) the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act,

(g) the Value-Added Tax Consolidation Act 2010 and the enactments amending or extending that Act, and

(h) any instruments made under any of the statutes and enactments specified in paragraphs (a) to (g);

‘relevant period’, in relation to a repayment, means—

(a) in the case of corporation tax, the accounting period of the company in respect of which the repayment arises,

(b) in the case of income tax, capital gains tax, income levy, universal social charge or domicile levy, the year of assessment in respect of which the repayment arises,

(c) in the case of stamp duties, the year of assessment or accounting period, as the case may be, within which falls the event in respect of which the repayment arises,

(d) in the case of gift tax or inheritance tax, the year of assessment or accounting period, as the case may be, within which falls the latest of the dates referred to in section 57(3) of the Capital Acquisitions Tax Consolidation Act 2003 and in respect of which the repayment arises,

(e) in the case of excise duty, the year of assessment or accounting period, as the case may be, within which falls the act or event in respect of which the repayment arises, and

(f) in the case of value-added tax, the year of assessment or accounting period, as the case may be, within which falls the taxable period in respect of which the repayment arises;

‘repayment’ includes a refund;

‘tax’ means any income tax, corporation tax, capital gains tax, value-added tax, excise duty, stamp duty, gift tax, inheritance tax, income levy, domicile levy or universal social charge and includes—

(a) any interest, surcharge or penalty relating to any such tax, duty, levy or charge,

(b) any sum arising from the withdrawal or clawback of a relief or an exemption relating to any such tax, duty, levy or charge,

(c) any sum required to be deducted or withheld by any person and paid or remitted to the Revenue Commissioners or the Collector-General, as the case may be, and

(d) any amount paid on account of any such tax, duty, levy or charge or paid in respect of any such tax, duty, levy or charge;

‘taxable period’ has the same meaning as in section 2 of the Value-Added Tax Consolidation Act 2010.

(2) Subject to subsections (3) and (4), where a repayment of any tax cannot be made to a person by virtue of the operation of—

(a) section 865,

(b) section 105B of the Finance Act 2001,

(c) section 99 of the Value-Added Tax Consolidation Act 2010,

(d) section 159A of the Stamp Duties Consolidation Act 1999,

(e) section 57 of the Capital Acquisitions Tax Consolidation Act 2003, or

(f) any other provision of any of the Acts,

then, notwithstanding any other enactment or rule of law, that repayment shall not be set against any other amount of tax due and payable by, or from, that person.

(3) Where a repayment of tax cannot be made to a person in respect of a relevant period, it may be set against the amount of tax to which paragraph (a) of subsection (4) applies which is due and payable by the person in the circumstances set out in paragraph (b) of that subsection.

(4) (a) The amount of tax to which this paragraph applies is the amount, or so much of the amount, of tax that is due and payable by the person in respect of the relevant period as does not exceed the amount of the repayment that cannot be made to the person in respect of that relevant period.

(b) The circumstances set out in this paragraph are where tax is due and payable in respect of the relevant period by virtue of an assessment that is made or amended, or any other action that is taken for the recovery of tax, at a time that is 4 years or more after the end of the relevant period.

(5) No tax shall be set against any other amount of tax except as is provided for by the Acts.”.

(2) The Stamp Duties Consolidation Act 1999 is amended in section 159B by substituting the following for subsection (6):

“(6) Except as provided for by this Act or section 941 of the Taxes Consolidation Act 1997 as it applies for the purposes of stamp duties, the Commissioners shall not repay an amount of duty paid to them or pay interest in respect of an amount of duty paid to them.”.

(3) The Capital Acquisitions Tax Consolidation Act 2003 is amended in section 57 by substituting the following for subsection (9):

“(9) Except as provided for by this Act or by section 941 of the Taxes Consolidation Act 1997 as it applies for the purposes of capital acquisitions tax, the Commissioners shall not repay an amount of tax paid to them or pay interest in respect of an amount of tax paid to them.”.

(4) The Value-Added Tax Consolidation Act 2010 is amended in section 105(6)(b) by substituting “section 941 of the Taxes Consolidation Act 1997 as it applies for the purposes of value-added tax” for “any provision of any other enactment”.

(5) This section shall apply as respects any tax (within the meaning of section 865B (inserted by subsection (1)(d)) of the Principal Act) paid or remitted to the Revenue Commissioners or the Collector-General, as the case may be, whether before, on or after the passing of this Act.

129. Modernisation of Direct Taxes Assessing Rules including rules for Self Assessment.

129.— (1) The Principal Act is amended in the manner and to the extent specified in Schedule 4.

(2) The Principal Act is amended by deleting Parts 39 and 41.

(3) Subject to subsections (4) and (5), this section takes effect on and from 1 January 2013.

(4) This section applies—

(a) in the case of a chargeable period (within the meaning of section 321(2) of the Principal Act) which is an accounting period of a company, as respects chargeable periods that start on or after 1 January 2013, and

(b) in a case other than that referred to in paragraph (a), as respects the year of assessment 2013 and subsequent years of assessment.

(5) This section does not affect the application of the provisions of the Principal Act, which are amended or deleted by this section, as respects chargeable periods prior to those referred to in subsection (4).

130. Amendment of section 811 (transactions to avoid liability to tax) of Principal Act.

130.— (1) Section 811 of the Principal Act is amended by inserting the following after subsection (5):

“(5A) (a) In this subsection—

‘assessment’ includes a first assessment, an additional assessment, an additional first assessment and an estimate or estimation;

‘amendment’, in relation to an assessment, includes the adjustment, alteration or correction of the assessment.

(b) Where the opinion of the Revenue Commissioners, that a transaction is a tax avoidance transaction, becomes final and conclusive, then for the purposes of giving effect to this section, any time limit provided for by Part 41, or by any other provision of the Acts, on the making or amendment of an assessment or on the requirement or liability of a person to pay tax or to pay additional tax—

(i) shall not apply, and

(ii) shall not affect the collection and recovery of any amount of tax or additional tax that becomes due and payable.”.

(2) (a) Subsection (1) applies to any assessment to tax or any amendment of any assessment to tax which is made, on or after 28 February 2012, so that the tax advantage resulting from a tax avoidance transaction, in respect of which a notice of opinion has become final and conclusive, is withdrawn from or denied to any person concerned.

(b) For the purposes of paragraph (a), “assessment”, “amendment”, “tax advantage”, “tax avoidance transaction”, “notice of opinion” and “final and conclusive” shall be read in accordance with section 811 of the Principal Act.

131. Miscellaneous amendments relating to administration.

131.— (1) The enactments specified in Schedule 5 are amended to the extent and manner specified in paragraphs 1 to 5 of, and the Table to, that Schedule.

(2) (a) Subject to paragraph (b), this section applies on and from the date of passing of this Act.

(b) Subparagraphs (c), (d), (e) and (f) of paragraph 2 and subparagraphs (a) and (c) of paragraph 3 of Schedule 5 apply as respects a person appointed after the date of passing of this Act.

132. Amendment of section 195 (exemption of certain earnings of writers, composers and artists) of Principal Act.

132.— Section 195 of the Principal Act is amended by inserting the following after subsection (15):

“(16) (a) The Revenue Commissioners may publish, or cause to be published, the name of an individual who is the subject of a determination under subsection (2).

(b) Publication under paragraph (a) may, as appropriate, include the title or category of the work of an individual.”.

133. Amendment of section 884 (returns of profits) of Principal Act.

133.— Section 884 of the Principal Act is amended—

(a) in subsection (2) by substituting the following for subparagraph (aa):

“(aa) such information, accounts, statements, reports and further particulars—

(i) relevant to the tax liability of the company, or

(ii) otherwise relevant to the application of the Corporation Tax Acts to the company,

as may be required by the notice or specified in the prescribed form in respect of the return,”,

and

(b) by inserting the following after subsection (2):

“(2A) In the case of a company which is required—

(a) to deliver a return under this section for a period, and

(b) under the Companies Act 1963 to prepare or make out accounts for a period consisting of or including the whole of that period,

the authority to require the delivery of accounts as part of the return is limited to such accounts, containing such information and having annexed to them such documents, as are required to be prepared or made out under that Act.”.

134. Miscellaneous amendments: civil partners.

134.— (1) The Principal Act is amended—

(a) in section 216A(3A) by substituting “a child of the individual or of the civil partner of the individual” for “a child of the individual”,

(b) in section 286A(3) by substituting “on the death of his or her spouse or civil partner, and that spouse or civil partner” for “on the death of his or her spouse, and that spouse”,

(c) in section 462(2)(b) by substituting “in the case of civil partners who are not living separately” for “in the case of civil partners where they are not living separately and apart”,

(d) in section 604(11) by substituting the following for paragraph (a):

“(a) In this subsection ‘dependent relative’, in relation to an individual, means a relative of the individual, or of the wife or husband of the individual, who is incapacitated by old age or infirmity from maintaining himself or herself, or a person, whether or not he or she is so incapacitated, and—

(i) who is the widowed father or widowed mother of the individual or of the wife or husband of the individual, or

(ii) who is the father or mother of the individual or of the wife or husband of the individual and is a surviving civil partner who has not subsequently married or entered into another civil partnership.”,

(e) in section 784A(4)(b)(ii) by substituting “any child of the individual or any child of the civil partner of the individual” for “any child of the individual”,

(f) in section 787K(1)(c)(iv) by substituting “widow, widower or surviving civil partner” for “widow or widower”,

(g) in section 1031A(2) by substituting “living separately” for “living separately and apart”, and

(h) in section 1031J(1) by substituting the following for the definition of “maintenance arrangement”:

“ ‘maintenance arrangement’ means—

(a) an order of a court under Part 5 or 12 of the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010, or

(b) a trust, covenant, agreement, arrangement or any other act giving rise to a legally enforceable obligation and made or done in consideration or in consequence of—

(i) the dissolution or annulment of a civil partnership, or

(ii) living separately in the circumstances referred to in section 1031A(2),

and a maintenance arrangement relates to the civil partnership in consideration or in consequence of the dissolution or annulment of which, or of the living separately in the circumstances referred to in section 1031A(2) to which, the maintenance arrangement was made or arises;”.

(2) The Capital Acquisitions Tax Consolidation Act 2003 is amended—

(a) in paragraph 7(3)(a)(ii) of Part 1 of Schedule 2 by substituting “any spouse or civil partner of the disponer” for “any spouse of the disponer”, and

(b) in paragraph 7(3)(b)(ii) of Part 1 of Schedule 2 by substituting “any spouse or civil partner of the disponer” for “any spouse of the disponer”.

(3) (a) Subsection (1) (other than paragraph (a)) shall have effect as if it had come into operation for the year of assessment (within the meaning of the Income Tax Acts and the Capital Gains Tax Acts) 2011 and each subsequent year of assessment.

(b) Subsection (1) (a) shall apply to relevant sums (within the meaning of section 216A(1) of the Principal Act) arising to an individual on or after 8 February 2012.

(c) Subsection (2) shall have effect as if it had come into operation as respects a gift (within the meaning of the Capital Acquisitions Tax Consolidation Act 2003) or an inheritance (within that meaning) taken on or after 1 January 2011.

135. Cesser of section 161 of Finance Act 2010.

135.— Section 161 of the Finance Act 2010 is amended by substituting the following for subsection (10):

“(10) This section applies for the years of assessment 2010 and 2011.”.

136. Amendment of section 531AA (interpretation (Part 18C)) of Principal Act.

136.— (1) Section 531AA(1) of the Principal Act is amended in paragraph (a) of the definition of “relevant individual” by deleting “, and is a citizen of,”.

(2) This section applies to domicile levy chargeable for the year 2012 and subsequent years.

137. Amendment of Schedule 24A (arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax) to Principal Act.

137.— (1) Schedule 24A to the Principal Act is amended—

(a) in Part 1—

(i) by inserting the following between paragraphs 1A and 1:

“1AA. The Double Taxation Relief (Taxes on Income and on Capital) (Republic of Armenia) Order 2012 (S.I. No. 21 of 2012).”,

(ii) by inserting the following after paragraph 14:

“14A. The Double Taxation Relief (Taxes on Income and on Capital) (Federal Republic of Germany) Order 2012 (S.I. No. 22 of 2012).”,

(iii) by inserting the following after paragraph 31:

“31A. The Double Taxation Relief (Taxes on Income and Capital Gains) (Republic of Panama) Order 2012 (S.I. No. 25 of 2012).”,

and

(iv) by inserting the following between paragraphs 35 and 35A:

“35AA. The Double Taxation Relief (Taxes on Income) (Kingdom of Saudi Arabia) Order 2012 (S.I. No. 26 of 2012).”,

and

(b) in Part 3—

(i) by inserting the following after paragraph 4:

“4A. The Exchange of Information Relating to Tax Matters (Grenada) Order 2012 (S.I. No. 23 of 2012).”,

and

(ii) by inserting the following after paragraph 9:

“10. The Exchange of Information Relating to Tax Matters (Republic of Vanuatu) Order 2012 (S.I. No. 24 of 2012).”.

(2) This section applies on and from the date of the passing of this Act.

138. Miscellaneous technical amendments in relation to tax.

138.— The enactments specified in Schedule 6—

(a) are amended to the extent and in the manner specified in paragraphs 1 to 3 of that Schedule, and

(b) apply and come into operation in accordance with paragraph 4 of that Schedule.

139. Capital Services Redemption Account.

139.— (1) In this section—

“ capital services ” has the same meaning as it has in the principal section;

“Capital Services Redemption Account” has the same meaning as it has in the principal section;

“ fifty-ninth additional annuity” means the sum charged on the Central Fund under subsection (3);

“principal section” means section 22 of the Finance Act 1950.

(2) In relation to the 29 successive financial years commencing with the financial year ending on 31 December 2012, subsection (3) of section 82 of the Finance Act 2011 shall have effect with the substitution of “€118,056,952” for “€141,616,974”.

(3) A sum of €118,068,355 to redeem borrowings in respect of capital services and interest on such borrowings shall be charged annually on the Central Fund or the growing produce of that Fund in the 30 successive financial years commencing with the financial year ending on 31 December 2012.

(4) The fifty-ninth additional annuity shall be paid into the Capital Services Redemption Account in such manner and at such times in the relevant financial year as the Minister for Finance may determine.

(5) Any amount of the fifty-ninth additional annuity, not exceeding €90,750,000 in any financial year, may be applied toward defraying the interest on the public debt.

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

140. Care and management of taxes and duties.

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

141. Short title, construction and commencement.

141.— (1) This Act may be cited as the Finance Act 2012.

(2) Part 1 shall be construed together with—

(a) in so far as it relates to income tax, the Income Tax Acts,

(b) in so far as it relates to income levy, Part 18A of the Taxes Consolidation Act 1997,

(c) in so far as it relates to universal social charge, Part 18D of the Taxes Consolidation Act 1997,

(d) in so far as it relates to corporation tax, the Corporation Tax Acts, and

(e) in so far as it relates to capital gains tax, the Capital Gains Tax Acts.

(3) Part 2, in so far as it relates to duties of excise, shall be construed together with the statutes which relate to those duties and to the management of those duties.

(4) Part 3 shall be construed together with the Value-Added Tax Acts.

(5) Part 4 shall be construed together with the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act.

(6) Part 5 shall be construed together with the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act.

(7) Part 6 in so far as it relates to—

(a) income tax, shall be construed together with the Income Tax Acts,

(b) income levy, shall be construed together with Part 18A of the Taxes Consolidation Act 1997,

(c) universal social charge, shall be construed together with Part 18D of the Taxes Consolidation Act 1997,

(d) corporation tax, shall be construed together with the Corporation Tax Acts,

(e) capital gains tax, shall be construed together with the Capital Gains Tax Acts,

(f) customs, shall be construed together with the Customs Acts,

(g) duties of excise, shall be construed together with the statutes which relate to duties of excise and the management of those duties,

(h) value-added tax, shall be construed together with the Value-Added Tax Acts,

(i) stamp duty, shall be construed together with the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act,

(j) domicile levy, shall be construed together with Part 18C of the Taxes Consolidation Act 1997,

(k) residential property tax, shall be construed together with Part VI of the Finance Act 1983 and the enactments amending or extending that Part, and

(l) gift tax or inheritance tax shall be construed together with the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act.

(8) Except where otherwise expressly provided in Part 1, that Part is deemed to have come into force and takes effect on and from 1 January 2012.

(9) Except where otherwise expressly provided for, where a provision of this Act is to come into operation on the making of an order by the Minister for Finance, that provision shall come into operation on such day or days as the Minister for Finance shall appoint either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions.

SCHEDULE 1 Consequential Amendments to Principal Act on Expiration of the Scheme of Relief for Certain Manufacturing Companies

(a) in subsection (1) by substituting the following for paragraph (b) of the definition “excepted operations”:

“(b) (i) working scheduled minerals, mineral compounds or mineral substances (within the meaning of section 2 of the Minerals Development Act 1940), or

(ii) working minerals (other than those specified in subparagraph (i)) other than so much of working such minerals as is manufacturing,

and”,

(b) by substituting the following for subsection (4):

“(4) This section shall not apply to the profits of a company for any accounting period to the extent that those profits consist of income which arises in the course of any of the following trades—

(a) non-life insurance,

(b) reinsurance, and

(c) life business, in so far as the income is attributable to shareholders of the company.”,

and

(c) by deleting subsection (4A).

“(3) The amount of any expenditure to be treated under subsection (2) as incurred at the time that a trade or profession has been set up and commenced shall not be so treated for the purposes of section 381, 396(2) or 420.”.

(a) in subsection (1)(a) by substituting the following for the definitions “agricultural society”, “fishery society” and “specified trade”, respectively:

“ ‘agricultural society’ means a society—

(i) in relation to which both the following conditions are satisfied:

(I) the number of the society’s members is not less than 50, and

(II) all or a majority of the society’s members are persons who are mainly engaged in and derive the principal part of their income from husbandry,

or

(ii) to which a certificate to which this subparagraph applies has been issued;

‘fishery society’ means a society—

(i) in relation to which both the following conditions are satisfied:

(I) the number of the society’s members is not less than 20, and

(II) all or a majority of the society’s members are persons who are mainly engaged in and derive the principal part of their income from fishing,

or

(ii) to which a certificate to which this subparagraph applies has been issued;

‘specified trade’ means, subject to paragraphs (b), (d) and (e), a trade which consists wholly or mainly of the manufacture of goods.”,

(b) in subsection (1) by inserting the following after paragraph (d):

“(da) A certificate to which subparagraph (ii) of the definition of ‘agricultural society’ or subparagraph (ii) of the definition of ‘fishery society’ in paragraph (a) applies is, as the case may be, a certificate given under—

(i) paragraph (b) or (c) of section 433(16),

(ii) paragraph (a) or (b) of section 70(2) of the Finance Act 1963,

(iii) paragraph (a) or (b) of section 220(2) of the Income Tax Act 1967, or

(iv) paragraph (a) or (b) of section 18(2) of the Finance Act 1978,

and not revoked.”,

and

(c) in subsection (1) by deleting paragraph (e).

“(4) Where, but for the deletion of sections 445 and 446, shares issued by a company would not be preference shares for the purposes of this section then, notwithstanding the deletion of those sections, those shares shall be treated as not being preference shares for those purposes and this section shall apply with any modifications necessary to give effect to this subsection.”.

“(2) Where a company would not be chargeable to income tax in respect of interest paid in respect of a ‘relevant security’ (within the meaning of section 246) in accordance with this section but for the fact that—

(a) sections 445 and 446 have been deleted, and

(b) those sections referred to time limits in respect of certificates to which each section related,

then, notwithstanding those deletions and time limits, the company shall not be so chargeable and the other provisions of this section shall apply with any modifications necessary to give effect to this subsection.”.

(a) in subsection (3) by substituting “Where” for “Subject to section 454, where”,

(b) in subsection (3) by substituting the following for paragraph (a):

“(a) income specified in section 21A(4),”.

(a) in subsection (1) by deleting the definition “charges on income paid for the purpose of the sale of goods”,

(b) by substituting the following for subsection (3):

“(3) Where for any accounting period a company claims relief under this section in respect of the excess, the relevant corporation tax of the company for the accounting period shall be reduced, in so far as the excess consists of relevant trading charges, by an amount determined by the formula—

C x R

100

where—

C is the amount of the relevant trading charges on income, and

R is the rate per cent of corporation tax which, by virtue of section 21, applies in relation to the accounting period.”,

and

(c) by substituting the following for subsection (4):

“(4) Where a company makes a claim for relief under this section in respect of any relevant trading charges on income paid in an accounting period, an amount (which shall not exceed the amount of the excess in respect of which a claim under this section may be made), determined by the formula—

T x 100

R

where—

T is the amount by which the relevant corporation tax for the accounting period is reduced by virtue of subsection (3), and

R is the rate per cent of corporation tax which, by virtue of section 21, applies in relation to the accounting period,

shall be treated for the purposes of the Tax Acts as relieved under this section.”.

“(4) Where subsection (2) would not apply to interest paid to a person whose usual place of abode is outside the State by virtue of subsection (3) but for the fact that—

(a) sections 445 and 446 have been deleted, and

(b) those sections referred to time limits in respect of certificates to which each section related,

then, notwithstanding those deletions and time limits, subsection (2) shall not apply to such interest and the other provisions of this section shall apply with any modifications necessary to give effect to this subsection.”.

“(10) Where but for the deletion of sections 445 and 446, an allowance or charge would be made to or on a company for any chargeable period under this Part then, notwithstanding that those sections have been deleted, that allowance or charge shall be made to or on the company and, accordingly this Part shall apply with any modifications necessary to give effect to this subsection.”.

(a) by substituting “Where” for “Subject to section 455, where”, and

(b) by substituting “section 21A(4)” for “section 21A(4)(b)” in both places where it occurs.

(a) in subsection (1) by deleting the definition “a loss from the sale of goods”,

(b) by substituting the following for subsection (3):

“(3) Where for any accounting period a company claims relief under this section in respect of the excess, the relevant corporation tax of the company for that accounting period and, if the company was then carrying on the trade and the claim so requires, for preceding accounting periods ending within the time specified in subsection (4), shall be reduced, in so far as the excess consists of a relevant trading loss, by an amount determined by the formula—

L x R

100

where—

L is the amount of the excess, and

R is the rate per cent of corporation tax which, by virtue of section 21, applies in relation to the accounting period.”,

and

(c) by substituting the following for subsection (5):

“(5) Where a company makes a claim for relief for any accounting period under this section in respect of any relevant trading loss incurred in a trade in an accounting period, an amount (which shall not exceed the amount of the excess in respect of which a claim under this section may be made), determined by the formula—

T x 100

R

where —

T is the amount by which the relevant corporation tax for the accounting period is reduced by virtue of subsection (3), and

R is the rate per cent of corporation tax which, by virtue of section 21, applies in relation to the accounting period,

shall be treated for the purposes of the Tax Acts as an amount of loss relieved against profits of that accounting period.”.

“(8A) Where, but for the deletion of sections 445 and 446, any machinery or plant would, for the purposes of the definition of ‘the specified capital allowances’, be machinery or plant to which subsection (8) applies, then, notwithstanding the deletion of those sections, the machinery or plant shall be machinery or plant to which subsection (8) applies for those purposes and this section shall apply with any modifications necessary to give effect to this subsection.”.

(a) by substituting “Where” for “Subject to section 456, where”, and

(b) by substituting “section 21A(4)” for “section 21A(4)(b)”.

(a) in subsection (1) by deleting the definitions “charges on income paid for the purpose of the sale of goods” and “a loss from the sale of goods”,

(b) by substituting the following for subsection (3):

“(3) Where for any accounting period a company claims relief under this section in respect of a relievable loss, the relevant corporation tax of the company for the accounting period shall be reduced in so far as the relievable loss consists of a loss or charges on income by an amount determined by the formula—

L x R

100

where—

L is an amount equal to the amount of the relievable loss, and

R is the rate per cent specified in section 21 in relation to the accounting period.”,

and

(c) by substituting the following for subsection (4):

“(4) Where for any accounting period a company claims relief under this section in respect of any relevant trading loss or excess of relevant trading charges on income, the surrendering company shall be treated as having surrendered, and the claimant company shall be treated as having claimed relief for, trading losses and charges on income of an amount determined by the formula—

T x 100

R

where—

T is the amount by which the relevant corporation tax payable for the accounting period is reduced by virtue of subsection (3), and

R is the rate per cent of corporation tax which, by virtue of section 21, applies in relation to the accounting period.”.

“ ‘distributable trading income’ of a company for an accounting period means the trading income of the company for the accounting period after deducting the amount of corporation tax which would be payable by the company for the accounting period if the tax were computed on the basis of that income;”.

(a) in subsection (1) by deleting the definitions “qualified company” and “relevant trading operations”,

(b) by deleting subsection (3), and

(c) in subsection (4) by deleting “, (3)(b)”.

(a) in the definition of “accounting profit” in subsection (1)(a)—

(i) by deleting paragraph (ii)(III), and

(ii) by substituting “subparagraphs (IV) and (V)” for “subparagraphs (III), (IV) and (V)” and “Part 35” for “Parts 14 and 35” in paragraph (iii),

and

(b) in the definition “group base tax” by substituting “subparagraph (IV)” for “subparagraph (III), (IV)”.

“(b) Where a company would be chargeable to corporation tax in respect of the profits of a life business in accordance with subsection (2)(a) but for the fact that—

(i) section 446 has been deleted, and

(ii) that section referred to time limits in respect of certificates to which the section related,

then, notwithstanding that deletion and those time limits, those profits shall be chargeable to corporation tax in accordance with subsection (2)(a), and the other provisions of this section shall apply with any modifications necessary to give effect to this subsection.”.

“(c) Where, a collective investment undertaking would not be chargeable to tax in respect of relevant profits, but the relevant profits would be chargeable to tax in the hands of the unit holder, including the undertaking, to whom a relevant payment of, or out of the relevant profits is made in accordance with subsection (3) but for the fact that—

(i) sections 445 and 446 have been deleted, and

(ii) those sections referred to time limits in respect of certificates to which each section related,

then, notwithstanding those deletions and time limits, the collective investment undertaking shall not be so chargeable to tax in respect of relevant profits, but the relevant profits shall be so chargeable to tax in the hands of the unit holder, including the undertaking, to whom a relevant payment of, or out of the relevant profits is made and the other provisions of this section shall apply with any modifications necessary to give effect to this subsection.”.

(a) in paragraph 4(2) by substituting “subject to subparagraphs (4) and (5)” for “subject to subparagraphs (3) to (5)”,

(b) in paragraph 4(2A) by deleting “but subject to subparagraph (3)”,

(c) in paragraph 4 by deleting subparagraph (3),

(d) in paragraph 4(4) by deleting clause (b),

(e) in paragraph 4(5)(a) by deleting “and sections 449 and 450”,

(f) in paragraph 4(5)(b) by deleting subclauses (ii) and (iii),

(g) in paragraph 9A(5)(b) by deleting “section 449 or”,

(h) in paragraph 9D by deleting subparagraph (3),

(i) in paragraph 9DA(5)(b) by deleting “section 449 or”, and

(j) in paragraph 9DB by deleting subparagraph (3).

SCHEDULE 2 Reduction of Duty Chargeable on Non-residential Property

“(1) Where the amount or value of the consideration for the sale is wholly or partly attributable to residential property and the instrument contains a statement certifying that the consideration for the sale is, as the case may be— (a) wholly attributable to residential property, or (b) partly attributable to residential property, and that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which, had there been a larger transaction or a series of transactions, the amount or value, or the aggregate amount or value, of the consideration (other than the consideration for the sale concerned which is wholly or partly attributable to residential property) would have been wholly or partly attributable to residential property:
for the consideration which is
attributable to residential property	1 per cent of the first €1,000,000 of the consideration and 2 per cent of the balance of the consideration thereafter but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.
(2) Where paragraph (1) does not apply and the amount or value of the consideration for the sale is wholly or partly attributable to residential property and the instrument contains a statement certifying that the consideration for the sale is, as the case may be— (a) wholly attributable to residential property, or (b) partly attributable to residential property, and that the transaction effected by that instrument forms part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to residential property is an amount equal to Y where— Y is the amount or value, or the aggregate amount or value, of the consideration in respect of the larger transaction or of the series of transactions which is attributable to residential property:
for the consideration which is attributable to residential
property	Stamp duty of an amount determined by the formula— A B C where— A is the amount of stamp duty that would have been chargeable under paragraph (1) on the amount or value, or the aggregate amount or value, of the consideration in respect of the larger transaction or of the series of transactions which is attributable to residential property had paragraph 1 applied to such consideration, B is the amount or value of the consideration for the sale concerned which is attributable to residential property, and C is the amount or value, or the aggregate amount or value, of the consideration in respect of the larger transaction or of the series of transactions which is attributable to residential property, but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.
(3) Where paragraphs (1) and (2) do not apply and the amount or value of the consideration for the sale is wholly or partly attributable to residential property:
for the consideration which is attributable to residential
property	2 per cent of the consideration but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.
(4) Where the amount or value of the consideration for the sale is wholly or partly attributable to property which is not residential
property	2 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.
(5) Where paragraph (4) applies in the case of a conveyance or transfer on sale or in the case of a conveyance or transfer operating as a voluntary disposition inter vivos— (a) the instrument is executed prior to 1 January 2015, and (b) the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that the person becoming entitled to the entire beneficial interest in the property (or, where more than one person becomes entitled to a beneficial interest in the property, each of them) is related to the person or each of the persons immediately theretofore entitled to the entire beneficial interest in the property in one or other of the following ways, that is, as a lineal descendant, parent, grandparent, step-parent, husband or wife, brother or sister of a parent or brother or sister, or lineal descendant of a parent, husband or wife or brother or sister, or is, as respects the person or each of the persons immediately theretofore entitled, his or her civil partner, the civil partner of either of his or her parents or a lineal descendant of his or her civil
partner	a duty of an amount equal to one-half of the ad valorem stamp duty which, but for the provisions of this paragraph, would be chargeable under this heading but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.”.