Finance Act 2014

96. Amendment of Schedule 24A to Principal Act (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)

96. Schedule 24A to the Principal Act is amended in Part 1—

• (a) by substituting the following for paragraph 3:

“3. The Double Taxation Relief (Taxes on Income) (Kingdom of Belgium) Order 1973 (S.I. No. 66 of 1973) and the Double Taxation Relief (Taxes on Income) (Kingdom of Belgium) Order 2014 (S.I. No. 466 of 2014).”,

• (b) by inserting the following after paragraph 3A:

“3B. The Double Taxation Relief (Taxes on Income) (Botswana) Order 2014 (S.I. No. 467 of 2014).”,

• (c) by substituting the following for paragraph 10:

“10. The Double Taxation Relief (Taxes on Income) (Kingdom of Denmark) Order 1993 (S.I. No. 286 of 1993) and the Double Taxation Relief (Taxes on Income) (Kingdom of Denmark) Order 2014 (S.I. No. 468 of 2014).”,

• (d) by substituting the following for paragraph 25:

“25. The Double Taxation Relief (Taxes on Income and on Capital) (Grand Duchy of Luxembourg) Order 1973 (S.I. No. 65 of 1973) and the Double Taxation Relief (Taxes on Income and on Capital) (Grand Duchy of Luxembourg) Order 2014 (S.I. No. 469 of 2014).”,

and

• (e) by inserting the following after paragraph 41:

“41AB. The Double Taxation Relief (Taxes on Income and Capital Gains) (Kingdom of Thailand) Order 2014 (S.I. No. 465 of 2014).”.

97. Miscellaneous technical amendments in relation to tax

97. The enactments specified in Schedule 3—

• (a) are amended to the extent and in the manner specified in paragraphs 1 to 7 of that Schedule, and

• (b) apply and come into operation in accordance with paragraph 8 of that Schedule.

98. Repeal of section 160 of Finance Act 1994 (small savings reserve fund)

98. Section 160 of the Finance Act 1994 is repealed.

99. Amendment of section 22 of Finance Act 1950 and related repeals

99. (1) Section 22 of the Finance Act 1950 is amended—

• (a) by deleting in subsection (1) the definition of “the annuity”,

• (b) by deleting subsections (3) to (5),

• (c) by substituting in subsection (6) “amount standing to the credit of the Account” for “balance of the annuity”,

• (d) in subsection (6)(e), by substituting “may be invested,” for “may be invested.”,

• (e) by inserting the following after paragraph (e) of subsection (6):

• “(f) in accordance with section 67(8) of the Finance Act 1988 where appropriate.”,

and

• (f) by inserting the following after subsection (9):

• “(10) When the functions of the Minister under this section stand duly delegated to the National Treasury Management Agency under section 5 of the National Treasury Management Agency Act 1990, subsection (9) of this section shall not apply and instead any activity on the account established under subsection (2) shall be reported as part of the National debt accounts for the purpose of the accounts prepared under section 12 of that Act, at the close of the financial year of the Agency for 2014 and each subsequent year.”.

• (2) The Acts of the Oireachtas specified in Schedule 4 are repealed to the extent specified in column (3) of that Schedule.

100. Care and management of taxes and duties

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

101. Short title, construction and commencement

101. (1) This Act may be cited as the Finance Act 2014.

• (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 universal social charge, Part 18D of the Principal Act,

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

• (d) 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) universal social charge, shall be construed together with Part 18D of the Principal Act,

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

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

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

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

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

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

• (i) domicile levy, shall be construed together with Part 18C of the Principal Act, and

• (j) 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 for in Part 1, that Part shall come into operation on 1 January 2015.

• (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 section 87

Section 87

The Taxes Consolidation Act 1997 is amended in each provision referred to in column (2) of the Table to this Schedule by deleting the words or reference set out in column (3) of the Table and substituting therefor the words or reference, opposite the entry in column (3), as set out in column (4) of the Table.

TABLE

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SCHEDULE 2 Consequential Amendments to section 88

Section 88

The Taxes Consolidation Act 1997 is amended in each provision referred to in column (2) of the Table to this Schedule by deleting the words or reference set out in column (3) of the Table and substituting therefor the words or reference, opposite the entry in column (3), as set out in column (4) of the Table.

TABLE

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SCHEDULE 3 Miscellaneous Technical Amendments in Relation to Tax

Section 97

1. The Taxes Consolidation Act 1997 is amended—

• (a) in section 10(5) by inserting “or civil partner” after “and with the spouse”,

• (b) in Part 1 of the Table to section 458 by inserting “Section 485F” after “Section 481”,

• (c) in section 473A(1), in the definition of “approved college”—

• (i) in paragraph (a)(i) by substituting “a scheme or schemes of grants approved by the Minister under the Student Support Act 2011” for “a scheme approved by the Minister under the Local Authorities (Higher Education Grants) Acts 1968 to 1992”, and

• (ii) in paragraph (c)(i) by substituting “a scheme or schemes of grants approved by the Minister under the Student Support Act 2011” for “a scheme approved by the Minister under the Local Authority (Higher Education Grants) Acts 1968 to 1992”,

• (d) in section 480A(7) by substituting “for the retirement year” for “in the retirement year” in each place,

• (e) in section 598(1)(a), in the definition of “payment entitlement”, by substituting “Regulation (EU) No. 1307/2013 of the European Parliament and of the Council of 17 December 2013¹² ” for “Council Regulation (EC) No. 1782/2003 of 29 September 2003¹³ ”,

• (f) in section 739I(2) by substituting “Acts” for “Tax Acts” in each place,

• (g) in paragraph 1(1) of Part 1 of Schedule 3, in clause (a) of the definition of “the standard capital superannuation benefit” by inserting “taxable” before “emoluments”, and

• (h) in paragraph 5 of Part 1 of Schedule 26A by deleting “in the State”.

• “(d) is capable of achieving vehicle propulsion at the time of registration or at the time of examination by a competent person under section 135D(1)(d), to the satisfaction of the Commissioners,”.

• (a) in section 109J(6) —

• (i) in paragraph (a) by inserting “or” after “document,”,

• (ii) in paragraph (b) by substituting “document.” for “document, or”, and

• (iii) by deleting paragraph (c),

• (b) in section 125A—

• (i) in subsection (2) by substituting “paragraph (ii) of subsection (1) ” for “subsection (1)(b) ”,

• (ii) in subsection (3)(a) by substituting “paragraph (i) of subsection (1) ” for “subsection (1)(a) ”, and

• (iii) in subsection (3)(b) by substituting “paragraph (ii) of subsection (1) ” for “subsection (1)(b) ”,

and

• (c) in section 136 by substituting “section 97” for “section 97(1) ” in each place.

• (b) Subparagraph (e) of paragraph 1 has effect as respects disposals made on or after 1 January 2015.

• (c) Subparagraph (h) of paragraph 1 is deemed to have come into operation on and from 5 November 2012.

• (d) Paragraph 2 has effect as respects instruments executed on or after 1 January 2015.

• (e) Paragraph 3 has effect as respects gifts and inheritances taken on or after 1 January 2015.

• (f) Paragraph 7 is deemed to have come into operation on and from 18 December 2013.

SCHEDULE 4 Enactments to be Repealed under section 99(2)

Section 99

Footnotes