Finance Act 2015

Type Act

Publication 2015-12-21

State In force

Source Irish Statute Book

articles 90

(1C) The supply of services by a remote betting intermediary (within the meaning of section 64 of the Finance Act 2002) to persons outside the State, the consideration for which consists of commission charges for the use of the remote betting intermediary facilities.”.

PART 4 Stamp Duties

61. **Interpretation (Part 4)**

61. In this Part “Principal Act” means the Stamp Duties Consolidation Act 1999.

62. Amendment of Schedule 2B to Principal Act (qualifications for applying for relief from stamp duty in respect of transfers to young trained farmers)

62. Schedule 2B to the Principal Act is amended in paragraph 3—

(a) in subparagraph (h) by substituting “University of Limerick;” for “University of Limerick.”, and

(b) by inserting the following after subparagraph (h):

“(i) Bachelor of Science (Honours) in Agriculture awarded by the Dundalk Institute of Technology.”.

63. Amendment of section 81AA of Principal Act (transfers to young trained farmers)

63. Section 81AA of the Principal Act is amended in subsection (16) by substituting “31 December 2018” for “31 December 2015”.

64. Amendment of section 123B of Principal Act (cash, combined and debit cards)

64. (1) Section 123B of the Principal Act is amended—

(a) in subsection (1) —

(i) by deleting the definitions of “bank” and “building society”,

(ii) by inserting the following definitions:

“ ‘cash transaction’ means a transaction by means of which a person obtains cash from an automated teller machine situated in the State by means of a cash card or a combined card;

‘credit institution’ has the same meaning as it has in the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014);

‘credit union’ has the same meaning as it has in the Credit Union Acts 1997 to 2012;

‘financial institution’ has the same meaning as it has in the European Union (Capital Requirements) Regulations 2014;”,

(iii) by substituting the following for the definition of “card account”:

“ ‘card account’ means an account maintained by a promoter to which—

(a) amounts of cash obtained by a person by means of a cash card are charged, or

(b) amounts in respect of goods, services or cash obtained by a person by means of a combined card or debit card are charged;”,

(iv) in the definition of “basic payment account”, by substituting “one of the following” for “one of the following banks”,

(v) in the definition of “promoter”, by substituting “means a credit institution or a financial institution other than a credit union or An Post and any of its subsidiaries” for “means a bank or building society”, and

(vi) in the definition of “quarter”, by substituting “into a card account.” for “into a card account;”,

(b) by substituting the following for subsection (2):

“(2) A promoter shall, within one month of the end of each year, commencing with the year 2016, deliver to the Commissioners a statement in writing showing—

(a) the number of cash cards and combined cards issued at any time by the promoter that are valid on 31 December in the year,

(b) the number of cash transactions completed in the year using a card valid on 31 December in the year in respect of each type of card,

(d) the number of combined cards, both functions of which were used in the year, to which the monetary cap referred to in subsection (4) has been applied, and

(e) the number of combined cards, only the cash card function of which was used in the year, to which the monetary cap referred to in subsection (4) has been applied.”,

“(2A) For the purposes of subsection (2), a cash card or a combined card shall be valid on 31 December of a particular year where—

(a) the card has not expired or been cancelled before that date, and

(b) on that date, the address of the person to whom the card was issued is in the State.

(2B) A promoter shall, within one month of the end of each year, commencing with the year 2016, deliver to the Commissioners a statement in writing showing the number of each type of card to which the monetary cap referred to in subsection (4) has not been applied, together with the number of cash transactions in the year in respect of those cards.

(2C) Where a cash card or combined card issued by a promoter in respect of a card account and valid on 31 December in a particular year (in this subsection referred to as the ‘final card’) has been issued following the cancellation or expiry in that year of another card of the same type issued by the promoter in respect of the card account (in this subsection referred to as a ‘previous card’), each such previous card shall be taken to be the final card for the purposes of this section.”,

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

“(3) Notwithstanding subsection (2) —

(a) if the cash card or combined card is not used at any time during a year,

(b) if the cash card or combined card is issued in respect of a card account—

(i) which is a deposit account, and

(ii) the average of the daily positive balances in the account does not exceed €12.70 during that year,

then it shall not be included in the statement relating to that year.”,

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

“(4) Stamp duty shall be charged on every statement delivered in pursuance of subsection (2) at the rate of €0.12 for each cash transaction included in the statement, but the amount charged in respect of—

(a) any individual combined card, both functions of which were used in the year, shall not exceed €5,

(b) any individual combined card, only the cash card function of which was used in the year, shall not exceed €2.50, and

and

(f) in subsection (9) by substituting “of a cash card or combined card” for “of a cash card, combined card or debit card”.

(2) Notwithstanding the commencement of subsection (1), section 123B shall continue to apply in respect of the year 2015 to the same extent as if this Act had not been passed.

65. Amendment of section 124 of Principal Act (credit cards and charge cards)

65. Section 124 of the Principal Act is amended in subsection (1)(a) —

(a) by substituting the following for the definition of “bank”:

“ ‘bank’ means a credit institution or a financial institution other than a credit union or An Post and any of its subsidiaries;”,

and

(b) by inserting the following definitions:

“ ‘credit institution’ has the same meaning as it has in the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014);

‘credit union’ has the same meaning as it has in the Credit Union Acts 1997 to 2012;

‘financial institution’ has the same meaning as it has in the European Union (Capital Requirements) Regulations 2014;”.

PART 5 Capital Acquisitions Tax

66. **Interpretation (Part 5)**

66. In this Part “Principal Act” means the Capital Acquisitions Tax Consolidation Act 2003.

67. Amendment of Schedule 2 to Principal Act (computation of tax)

67. (1) Part 1 of Schedule 2 to the Principal Act is amended in paragraph 1(a), in the definition of “group threshold”, by substituting “€280,000” for “€225,000”.

(2) This section applies to gifts and inheritances taken on or after 14 October 2015.

PART 6 Miscellaneous

68. **Interpretation (Part 6)**

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

69. Tax treatment of return of value on certain shares where shareholders affected by postal delays

69. The Principal Act is amended by inserting the following section after section 847B:

“Tax treatment of return of value on certain shares where shareholders affected by postal delays

847C. (1) In this section—

‘company’ means Standard Life plc;

‘deadline specified by the company’ means 4.30 pm on 18 March 2015;

‘relevant person’ means a person whose form electing to take B shares in the company was received after the deadline specified by the company;

‘return of value’ means the dividend paid in respect of fully paid bonus C shares issued to shareholders in the company in accordance with the terms of a return of value and related share consolidation which was completed by the company on or about 20 March 2015.

(2) Notwithstanding any other provision of this Act, the receipt by a relevant person of a return of value in respect of shares where an election to take B shares was made, shall be deemed, for the purposes of capital gains tax, to be the receipt of a capital sum derived from the person’s ordinary shares in the company and not to be income.

(3) Subsection (2) shall not apply unless the person referred to in that subsection proves to the satisfaction of the Revenue Commissioners that the form, being the form by which that person elected to take B shares—

(a) was completed and signed by that person before the deadline specified by the company for the receipt of such forms, and

(b) was, due to delays in the postal system, received in hard copy by post by or on behalf of the company after that deadline.”.

70. Marriage equality

70. The Principal Act is amended—

(a) in section 2 by inserting the following after subsection (3A):

“(3B) In the Tax Acts, any reference, howsoever expressed, to an individual or a claimant—

(a) being a man, a married man or a husband, shall be construed as including, as necessary, a reference to a woman, a married woman or a wife, and

(b) being a woman, a married woman or a wife shall be construed as including, as necessary, a reference to a man, a married man or a husband.”,

(b) in section 5 by inserting the following after subsection (1):

“(1A) In the Capital Gains Tax Acts, any reference, howsoever expressed, to an individual—

(a) being a man, a married man or a husband, shall be construed as including, as necessary, a reference to a woman, a married woman or a wife, and

(b) being a woman, a married woman or a wife, shall be construed as including, as necessary, a reference to a man, a married man or a husband.”,

and

71. Amendment of Chapter 3 of Part 33 of Principal Act (mandatory disclosure of certain transactions)

71. Part 33 of the Principal Act is amended—

(a) in section 817HA(4)(b) by inserting the following after “officer”:

“, by the specified return date for the chargeable period, within the meaning assigned to it by section 959A,”,

and

(b) in section 817L(3) by substituting “working days” for “days”.

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

72.Section 851A of the Principal Act is amended in subsection (1) by substituting the following for the definition of “professional body”:

“‘professional body’ means—

(a) an accountancy body that comes within the supervisory remit of the Irish Auditing and Accounting Supervisory Authority,

(b) the Irish Auditing and Accounting Supervisory Authority,

(d) the Law Society of Ireland;”.

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

73. Section 886(4) of the Principal Act is amended by inserting the following paragraph after paragraph (a):

“(aa) Where a person to whom this section applies ceases to be a person to whom subparagraph (i), (ii) or (iii), as appropriate, of subsection (2) (a) applies, that person (or such other person on that person’s behalf) required to keep the linking documents and records shall keep or retain the linking documents and records notwithstanding that a period of 5 years has elapsed from the date of such cessation.”.

74. Amendment of Part 38 of Principal Act (returns of income and gains, other obligations and returns, and Revenue powers)

74. Part 38 of the Principal Act is amended—

(a) by inserting the following after section 891F:

“Implementation of Council Directive 2014/107/EU of 9 December 2014 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation

891G. (1) This section provides for the collection and reporting of certain information in respect of financial accounts held by any person who is regarded by virtue of the laws of a jurisdiction other than the State as resident in that jurisdiction for the purposes of tax.

(2) In this section—

‘Directive’ means the Council Directive 2014/107/EU of 9 December 2014 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation[^28];

‘account holder’, ‘financial account’, ‘high value account’, ‘lower value account’, ‘reportable account’, ‘reporting financial institution’, and ‘TIN’ have the meanings respectively given to them by Section VIII of Annex I to the Directive;

‘change in circumstances’ shall be construed in accordance with Annex II to the Directive.

(3) The Revenue Commissioners, with the consent of the Minister for Finance, may make regulations under this section with respect to the return by a reporting financial institution of information on reportable accounts held, managed or administered by that reporting financial institution.

(4) In addition to the specification in the regulations of a requirement that reporting financial institutions make a return to the Revenue Commissioners of information in relation to reportable accounts, regulations under this section may (without prejudice to the generality of subsection (3)) include provisions—

(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 information to be reported in a return by the reporting financial institution, to the Revenue Commissioners, in relation to reportable accounts and, where different information is to be reported for different years, specifying the information to be reported for each of those years,

(d) specifying—

(i) the currency in which the reporting financial institution is required to report, and

(ii) the rules for conversion of amounts, denominated in another currency, into the currency, referred to in subparagraph (i), for the purposes of a return under the regulations,

(e) requiring reporting financial institutions to identify reportable accounts,

(f) specifying the records and documents that must be examined or obtained by the reporting financial institution to enable the institution to identify reportable accounts,

(g) specifying the records and documents used to identify reportable accounts that must be retained by the reporting financial institution,

(h) specifying additional requirements in relation to the examination of high value accounts and lower value accounts,

(i) setting out the circumstances in which a reporting financial institution is required to aggregate financial accounts held by the same individual or entity for the purposes of identifying reportable accounts as high value accounts or lower value accounts,

(j) specifying the actions to be taken by a reporting financial institution where there is a change in circumstances with respect to the account holder of a financial account,

(k) setting out the conditions under which a reporting financial institution may appoint a third party as its agent to carry out the duties and obligations imposed on it by the regulations,

(l) setting out the circumstances in which a reporting financial institution may make a nil return,

(m) imposing an obligation on—

(i) a reporting financial institution to obtain a TIN from any person—

(I) with whom the institution enters into a contractual relationship, or

(II) for whom the institution undertakes any transaction, on or after a date specified in the regulations, which shall not be earlier than the commencement of the regulations (and such persons are in this paragraph referred to as ‘customers’) for the purposes of including that number in a return under the regulations,

and

(ii) customers to provide a reporting financial institution with their TIN on request by the reporting financial institution where, on or after a date specified in the regulations—

(I) such customers enter into a contractual relationship with the reporting financial institution, or

(II) the reporting financial institution undertakes any transaction for such customers,

being respectively—

(A) a relationship which results in the opening, operation, administration or management of a financial account, or

(B) a transaction which arises in relation to a financial account,

(n) defining ‘books’ and ‘records’ for the purposes of the regulations,

(o) in relation to any of the matters specified in the preceding paragraphs, determining the manner of keeping records and setting the period for the retention of records so kept,

(p) enabling the authorisation of Revenue officers, for the purpose of such officers—

(i) requiring—

(I) the production of books, records or other documents,

(II) the provision of information, explanations and particulars, and

(III) persons to give all such assistance as may reasonably be required and as is specified in the regulations,

in relation to financial accounts within such time as may be specified in the regulations, and

(ii) making extracts from or copies of books, records or other documents or requiring that copies of such books, records and documents be made available,

and

(q) specifying such supplemental and incidental matters as appear to the Revenue Commissioners to be necessary—

(i) to enable persons to fulfil their obligations under the regulations, or

(ii) for the general administration and implementation of the regulations, including—

(I) delegating to a Revenue officer the authority to perform any acts and discharge any functions authorised by this section or the regulations to be performed or discharged by the Revenue Commissioners, and

(II) the authorisation by the Revenue Commissioners of Revenue officers to exercise any powers, to perform any acts or to discharge any functions conferred by this section or by the regulations.

(5) Every regulation made under this section 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.

(6) A Revenue officer authorised for the purpose of regulations under this section may at all reasonable times enter any premises or place of business of a reporting financial institution for the purposes of—

(a) determining whether information—

(i) included in a return made under the regulations by the reporting financial institution was correct and complete, or

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

(b) examining the procedures put in place by the reporting financial institution for the purposes of ensuring compliance with that institution’s obligations under the regulations.

(7) (a) Section 898O shall apply to—

(i) a failure by a reporting financial institution to deliver a return required under regulations under this section, and

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

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 person who does not comply with—

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

(ii) any requirement of such regulations,

shall be liable to a penalty of €1,265.

(8) Section 4 of the Post Office Savings Bank Act 1861 shall not apply to the disclosure of information required to be included in a return made under the regulations made under this section and, accordingly, this section shall apply to information to which, but for this subsection, the said section 4 would apply.

(9) Where arrangements are entered into by any person and the main purpose or one of the main purposes of the arrangements, or any part of them, is the avoidance of any of the obligations imposed under this section or regulations thereunder, then this section and those regulations shall apply as if the arrangements, or that part of them, had not been entered into.

(10) Any word or expression which has a meaning given to it by Section VIII of Annex I or Annex II to the Directive respectively shall, where it is used in regulations made under this section and unless the contrary intention appears, have the same meaning in those regulations as it has in the respective Annex.

(11) Section 891F shall not apply to a reportable account to which this section applies.”,

and

(b) by inserting the following after section 898R:

“Cessation

898S. This Chapter, other than sections 898L, 898M and 898O, shall cease to have effect as respects an interest payment made to or secured for a person on or after 1 January 2016 who is—

(a) resident in a Member State, or

(b) resident in a territory with which arrangements were made and such territory is a reportable jurisdiction within the meaning of Section VIII of the standard, as defined in section 891F.”.

75. Amendment of Chapter 4 of Part 38 of Principal Act (Revenue powers)

75. Chapter 4 of Part 38 of the Principal Act is amended—

(a) in section 902—

(i) in subsection (1) —

(I) by substituting “section 900(1) ;” for “section 900(1).” in the definition of “books, records or other documents” and “liability”, and

(II) by inserting the following after the definition of “books, records or other documents” and “liability”:

“ ‘taxpayer’ includes any person whose identity is not known to the authorised officer and includes a group or class of persons whose individual identities are not so known to the authorised officer.”,

(ii) in subsection (5) by inserting “, where known,” after “taxpayer”, and

(iii) in subsection (6), by substituting the following for “the taxpayer concerned.”:

“the taxpayer concerned—

(a) in a case where the identity of the taxpayer is known to the authorised officer at the time the notice is served under subsection (2), at that time or as soon as is practicable thereafter, and

(b) in any other case, as soon as is practicable after the time the identity of the taxpayer becomes known to the authorised officer.”,

(b) in section 902A—

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

“(2A) In making an application under subsection (2), an authorised officer may request the judge to provide that any order made under subsection (4) shall be subject to a condition that, save for the purposes of complying with the order, the existence of or any details of the order shall not be disclosed (whether directly or indirectly) to any person.”,

and

(ii) in subsection (3) —

(I) by inserting the following after “subsection (2)”:

“, whether or not it includes a request to be made under subsection (2A),”,

(II) in paragraph (b), by substituting “failure),” for “failure), and”, and

(III) by inserting the following after paragraph (b):

“(ba) that, in a case where the application includes a request made under subsection (2A), there are reasonable grounds for suspecting that a disclosure, referred to in subsection (2A) would lead to serious prejudice to the proper assessment or collection of tax, and”,

(i) in subsection (1) —

(I) by substituting “Revenue Commissioners;” for “Revenue Commissioners.” in the definition of “tax”, and

(II) by inserting the following after the definition of “tax”:

“‘taxpayer’ includes any person whose identity is not known to the authorised officer and includes a group or class of persons whose individual identities are not so known to the authorised officer.”,

(ii) in subsection (7) by inserting “, where known,” after “taxpayer”, and

(iii) by substituting the following for “the taxpayer concerned.” in subsection (8):

“the taxpayer concerned—

(a) in a case where the identity of the taxpayer is known to the authorised officer at the time the notice is served under subsection (2), at that time or as soon as is practicable thereafter, and

(b) in any other case, as soon as is practicable after the time the identity of the taxpayer becomes known to the authorised officer.”,

(d) in section 908—

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

“(2A) In making an application under subsection (2), an authorised officer may request the judge to provide that any order made under subsection (5) shall be subject to a condition that, save for the purposes of complying with the order, the existence of or any details of the order shall not be disclosed (whether directly or indirectly) to any person.”,

and

(ii) in subsection (3) —

(I) by inserting the following after “under subsection (2) ”:

“, whether or not it includes a request to be made under subsection (2A),”,

(II) in paragraph (b), by substituting “failure),” for “failure), and”, and

(III) by inserting the following after paragraph (b):

and

(e) in section 912A—

(i) in subsection (2), by substituting “907, 907A and” for “907 and”, and

(ii) in subsection (3), by substituting “907, 907A and” for “907 and”.

76. Amendment of section 888 of Principal Act (returns, etc. by lessors, lessees and agents)

76. (1) Section 888 of the Principal Act is amended—

(a) in subsection (1) by inserting the following definition:

“ ‘local property tax number’ means the unique identification number assigned to a residential property by the Revenue Commissioners under section 27 of the Finance (Local Property Tax) Act 2012 and ‘residential property’ has the same meaning as in section 2 of that Act;”,

(b) in subsection (2)(d) —

(i) by inserting the following after subparagraph (i):

“(ia) the local property tax number of each such premises that is a residential property,”,

and

(ii) by inserting the following after subparagraph (ii):

“(iia) the tax reference number of every such person,”,

“(ia) the local property tax number of each premises that is a residential property,”,

and

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

“(d) A person referred to in subsection (2)(d) who manages any premises or is in receipt of rent or other payments arising from any premises shall request from every person to whom such premises belongs—

(i) the person’s tax reference number, or

(ii) where the person does not have a tax reference number, confirmation to that effect,

and that person shall comply with the request.

(e) Where in making a return for the purposes of paragraph (d) or (e) of subsection (2), the person or body is unable to provide the information required by subparagraph (iia) of those paragraphs in respect of a person because that person failed to furnish the information in accordance with paragraphs (b) or (d), then the person or body shall, unless they can otherwise duly provide the information, state that they cannot provide the information so required.”.

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

77. Discharge of Revenue Commissioners’ and Collector-General’s functions

77. The Principal Act is amended by substituting the following for section 960B:

“Discharge of Revenue Commissioners’ and Collector-General’s functions

960B. The Revenue Commissioners may nominate in writing any Revenue officer to perform any acts and to discharge any functions authorised by Chapters 1B, 1C and 1D to be performed or discharged by the Revenue Commissioners or the Collector-General other than the acts and functions referred to in subsections (1) to (4) of section 960N, and references in this Part to ‘Revenue Commissioners’ and ‘Collector-General’ shall be read accordingly.”.

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

78. Section 1077E(11) of the Principal Act is amended—

(a) in paragraph (a) —

(i) by inserting “or could have been claimed” after “the relevant periods”, and

(ii) by inserting “, claim” after “declaration”,

and

(b) in paragraph (b) —

(i) by inserting “, or refundable to,” after “the relevant periods by”, and

(ii) by inserting “, claim” after “declaration”.

79. Amendment of section 826 of Principal Act (agreements for relief from double taxation)

79. (1) Section 826 of the Principal Act is amended by—

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

“(1D) Where—

(a) the Government by order declare—

(i) that arrangements, in relation to any matter referred to in subparagraph (i) or (ii) of subsection (1) (a) and specified in the order, have been made with an authority, other than a government, of a territory outside the State, and

(ii) that it is expedient that those arrangements should have the force of law,

and

(b) the order so made is referred to in Part 1 of Schedule 24A,

then, subject to this section and to the extent provided for in this section, the arrangements shall, notwithstanding any enactment, have the force of law as if each such order were an Act of the Oireachtas on and from the date of the insertion of a reference to the order into Part 1 of Schedule 24A.”,

and

(b) inserting the following subsection after subsection (9):

“(10) For the purposes of an order under subsection (1D), where an order is made under that subsection in relation to a territory outside the State—

(a) any reference to country in this Act or any other enactment shall be construed as including a reference to the territory, and

(b) any reference to government in this Act or any other enactment shall be construed as including a reference to the authority, referred to in subsection (1D), of the territory.”.

(2) This section comes into operation on the passing of this Act.

80. 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)

80. Schedule 24A to the Principal Act is amended—

(a) in Part 1—

(i) by inserting the following after paragraph 11:

“11A. The Double Taxation Relief (Taxes on Income) (Federal Democratic Republic of Ethiopia) Order 2015 (S.I. No. 435 of 2015).”,

(ii) by substituting the following for paragraph 14A:

“14A. The Double Taxation Relief (Taxes on Income and on Capital) (Federal Republic of Germany) Order 2012 (S.I. No. 22 of 2012) and the Double Taxation Relief (Taxes on Income and on Capital) (Federal Republic of Germany) Order 2015 (S.I. No. 438 of 2015).”,

(iii) by substituting the following for paragraph 31:

“31. The Double Taxation Relief (Taxes on Income) (Pakistan) Order 1974 (S.I. No. 260 of 1974) and the Double Taxation Relief (Taxes on Income) (Pakistan) Order 2015 (S.I. No. 436 of 2015).”,

and

(iv) by substituting the following for paragraph 44:

“44. The Double Taxation Relief (Taxes on Income) (Republic of Zambia) Order 1973 (S.I. No. 130 of 1973) and the Double Taxation Relief (Taxes on Income and Capital Gains) (Republic of Zambia) Order 2015 (S.I. No. 437 of 2015).”,

and

(b) in Part 3—

(i) by inserting the following after paragraph 1A:

“1AA. The Exchange of Information Relating to Tax Matters (Argentine Republic) Order 2015 (S.I. No. 439 of 2015).”,

(ii) by inserting the following after paragraph 1AA (inserted by sub paragraph (i)):

“1AB. The Exchange of Information Relating to Tax Matters (Commonwealth of The Bahamas) Order 2015 (S.I. No. 440 of 2015).”,

and

(iii) by inserting the following after paragraph 8AA:

“8AB. The Exchange of Information Relating to Tax Matters (Saint Christopher (Saint Kitts) and Nevis) Order 2015 (S.I. No. 441 of 2015).”.

81. Fuel grant

81. (1) The Minister may pay, out of moneys provided by the Oireachtas, a grant to a person in respect of hydrocarbon oil used for combustion in the engine of a vehicle used by a severely and permanently disabled person—

(a) as a driver, where the disablement is of such a nature that the person concerned could not drive any vehicle unless it is specially constructed or adapted to take account of that disablement, or

(b) as a passenger, where the vehicle has been specially constructed or adapted to take account of the passenger’s disablement.

(2) The Minister, after consultation with the Minister for Health and the Data Protection Commissioner, may make regulations for the purposes of this section to provide for the following:

(a) the payment of the grant;

(b) the annual maximum quantity of hydrocarbon oil in respect of which a claim may be made;

(d) eligibility criteria;

(e) the manner in which an application for the grant is to be made;

(f) the information to be furnished by an applicant for the grant;

(g) procedures for the reimbursement of overpayments and erroneous payments;

(h) the publication of administrative guidelines;

(i) any consequential or ancillary matters as appear to the Minister to be necessary or expedient for the proper administration of the grant.

(3) When making regulations under subsection (2), the Minister shall have regard to the following:

(a) Government policy to the extent that it relates to severely and permanently disabled persons;

(b) the importance of ensuring the affordability of motorised transport for severely and permanently disabled persons; and

(c) the need to assist severely and permanently disabled persons and organisations engaged in the transport of severely and permanently disabled persons with part of the cost associated with the purchase of hydrocarbon oils.

(4) Without prejudice to the generality of subsection (3) —

(a) in specifying the rate of the grant in respect of a type of hydrocarbon oil, the Minister shall have regard to the retail price of hydrocarbon oil of that type, and

(b) in specifying eligibility criteria, the Minister shall have regard to any eligibility criteria specified in regulations made under section 92 of the Finance Act 1989.

82. Offences and penalties relating to fuel grant

82. (1) A person who furnishes information for the purpose of receiving the grant referred to in section 81 of this Act which is false or misleading, knowing it to be false or misleading in a material respect or being reckless as to whether it is so false or misleading, is guilty of an offence.

(2) A person who is guilty of an offence under this section is liable—

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

(b) on conviction on indictment to a fine not exceeding €50,000 or imprisonment for a term not exceeding 5 years or both.

83. Exemption in respect of fuel grant

83. The Principal Act is amended by inserting the following section after section 192C:

“Exemption in respect of fuel grant

192D. A payment made under section 81 of the Finance Act 2015 shall be exempt from income tax and shall not be reckoned in computing income for the purposes of the Income Tax Acts.”.

84. Amendment of section 92 of Finance Act 1989

84. Section 92(1) of the Finance Act 1989 is amended—

(a) in paragraph (a), by substituting “motor vehicle used by,” for “motor vehicle used by, and”, and

(b) by deleting paragraph (b).

85. Exemption in respect of water conservation grant

85. The Principal Act is amended by inserting the following section after section 192D:

“Exemption in respect of water conservation grant

192E. A payment made under section 5 of the Water Services Act 2014 shall be exempt from income tax and shall not be reckoned in computing income for the purposes of the Income Tax Acts.”.

86. Miscellaneous amendments of Principal Act in relation to authorisations granted under section 9A of Central Bank Act 1971

86. (1) (a) The provision of the Principal Act specified in column (2), opposite a reference number specified in column (1) is amended—

(i) if no words are specified in column (3) opposite the reference number in column (1), by inserting the words specified in column (4) opposite that reference number, and

(ii) in every other case, by substituting the words specified in column (4), opposite the reference number in column (1), for the words specified in column (3) opposite that reference number.

(b) In paragraph (a), a reference to a column is a reference to the column in the Table set out in the Schedule.

(2) The amendments under subsection (1) come into operation on the passing of this Act.

87. Amendment of section 54 of Finance Act 1970

87. Section 54 of the Finance Act 1970 is amended by substituting the following for subsection (5):

“(5) The Minister for Finance may purchase securities created or issued by him either under this section or under any other provision of an Act of the Oireachtas whenever and so often as he thinks fit and in any manner, whether in the open market or otherwise, and any such securities so purchased shall be cancelled.

(5A) The purchase price and the expenses and other costs paid or incurred by the Minister for Finance under subsection (5) of this section shall be charged on the Central Fund or the growing produce thereof.”.

88. Miscellaneous technical amendments in relation to tax

88. (1) The Principal Act is amended—

(a) in section 118B(1), in the definition of “exempt employee benefit”, by substituting “subsection (2)(a)(i), (ii) and (iii) ” for “subsection (2)(a)(i) and (ii) ”,

(b) in Part 36 by renumbering the existing section numbered 848AA (inserted by section 48 of the Finance Act 2014 as section 847B,

(d) in Schedule 25B by substituting the following for “for the tax year under section 823A” in the matter set out in column (3) opposite the entry at Reference Number 48A:

“under section 823A for the tax years 2012, 2013, 2014, 2016 and for each subsequent tax year”.

(2) This section has effect on and from the passing of this Act.

89. Care and management of taxes and duties

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

90. Short title, construction and commencement

90. (1) This Act may be cited as the Finance Act 2015.

(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,

(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,

(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 in Part 1, that Part shall come into operation on 1 January 2016.

(9) Except where otherwise expressly provided, 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 Miscellaneous Amendments of Principal Act in relation to Authorisations granted under section 9A of Central Bank Act 1971

Section 86

TABLE

Reference No.	Provision of Principal Act	Words to be substituted	Substituting words
(1)	(2)	(3)	(4)
1	section 172A(1)(a)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
2	section 172E(4)(a)	(a) is a company which holds a licence granted under section 9 of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any relevant territory which corresponds to that section,	(a) is a company which holds a licence granted under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any relevant territory or of an EEA state which corresponds to the said section 9,
3	section 172G(4)(a)	(a) is a company which holds a licence granted under section 9 of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any relevant territory which corresponds to that section,	(a) is a company which holds a licence granted under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any relevant territory or of an EEA state which corresponds to the said section 9,
4	section 244A(1)(a)(i)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
5	section 244A(3)(a)	(a) a bank holding a licence under section 9 of the Central Bank Act 1971;	(a) a bank holding a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971;
6	section 244A(3)(f)	(i) (I) holds a licence or similar authorisation, corresponding to a licence referred to in paragraph (a), or (II) has been incorporated in a manner corresponding to that referred to in paragraph (b), under the law of any other Member State of the European Communities,	(i) (I) holds a licence or similar authorisation, corresponding to a licence granted under section 9 of the Central Bank Act 1971, or (II) has been incorporated in a manner corresponding to that referred to in paragraph (b), under the law of an EEA state, other than the State,
7	section 256(1)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
8	section 256(1), in paragraph (a) of the definition of “relevant deposit taker”	(a) a person who is a holder of a licence granted under section 9 of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who is a holder of a licence granted under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
9	section 519C(1)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
10	section 519C(1), in paragraph (a) of the definition of “qualifying savings institution”	(a) a person who is a holder of a licence granted under section 9 of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who is a holder of a licence granted under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
11	section 730A(1), in paragraph (a) of the definition of “financial institution”	(a) a person who holds a licence under section 9 of the Central Bank Act 1971,	(a) a person who holds a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971,
12	section 784A(1) (a)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
13	section 784A(1)(a), in paragraph (a) of the definition of “qualifying fund manager”	(a) a person who is a holder of a licence granted under section 9 of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who is a holder of a licence granted under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
14	section 784A(7)(a)(I)	a Member State of the European Communities	an EEA state
15	section 845A(1)	(1) In this section, “bank” means— (a) a person who is a holder of a licence granted under section 9 of the Central Bank Act 1971, or (b) a person who holds a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under the said section 9.	(1) In this section— “bank” means— (a) a person who is a holder of a licence granted under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or (b) a person who holds a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9; “EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement.
16	section 891B(1)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
17	section 891B(1), in paragraph (a) of the definition of “financial institution”	(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who holds or has held a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
18	section 906A(1)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
19	section 906A(1), in paragraph (a) of the definition of “financial institution”	(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who holds or has held a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
20	section 908A(1)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
21	section 908A(1), in paragraph (a) of the definition of “financial institution”	(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who holds or has held a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
22	section 908B(1)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
23	section 908B(1), in paragraph (a) of the definition of “financial institution”	(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who holds or has held a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,
24	section 1002(1)(a)		“EEA Agreement” means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement; “EEA state” means a state which is a contracting party to the EEA Agreement;
25	section 1002(1)(a), in paragraph (a) of the definition of “financial institution”	(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,	(a) a person who holds or has held a licence under section 9 or an authorisation granted under section 9A of the Central Bank Act 1971, or a person who holds or has held a licence or other similar authorisation under the law of an EEA state, other than the State, which corresponds to a licence granted under the said section 9,

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