Finance (No. 2) Act 2023

“(19A) A claim under subsection (19) shall be made within 12 months from the end of the accounting period in which the expenditure, giving rise to the claim, is incurred and shall be made in the return, required under Part 41A, in respect of that accounting period.”,

(i) by the substitution of the following subsection for subsection (21):

“(21) A claim under subsection (20) shall be made in the return, required under Part 41A, in respect of the accounting period referred to in paragraph (a) of subsection (21A).”,

(j) by the insertion of the following subsection after subsection (21):

“(21A) A claim under subsection (20) shall be made—

(a) within 12 months from the end of the accounting period in which the last of the expenditure giving rise to the claim is incurred, or

(b) in a case in which the final certificate is issued after a date which is 3 months prior to the expiry of the 12-month period referred to in paragraph (a), within 3 months from the date on which that certificate is issued.”,

(k) by the substitution of the following subsection for subsection (22):

“(22) Where a digital games development company makes a claim for an interim digital games corporation tax credit under subsection (19) or a digital games corporation tax credit under subsection (20), the digital games development company shall specify as regards the amount claimed under subsection (19) or subsection (20), as the case may be, whether that amount or any portion of that amount is to be—

(a) treated as an overpayment of tax, for the purposes of section 960H, or

(b) paid to the company by the Revenue Commissioners.”,

(l) by the insertion of the following subsections after subsection (22):

“(22A) Where a claim in respect of an interim digital games corporation tax credit under subsection (19) or a digital games corporation tax credit under subsection (20) is made, the amount of the interim digital games corporation tax credit or the amount of the digital games corporation tax credit, as the case may be, shall be paid or offset in full, in the manner specified by the digital games development company under subsection (22), by the Revenue Commissioners within 48 months from when a valid claim is made.

(22B) No amount of the interim digital games corporation tax credit or the digital games corporation tax credit shall be paid or offset under subsection (22A) unless a valid claim has been made to the Revenue Commissioners for that purpose.

(22C) Nothing in this section shall prevent the Revenue Commissioners from examining a claim subsequent to any payment or offset having been made and making or amending an assessment, as the case may be, under Chapter 5 of Part 41A.

(22D) The interim digital games corporation tax credit or the digital games corporation tax credit, if any, arising to a digital games development company in accordance with this section shall not be income of the digital games development company or another company for the purposes of corporation tax.

(22E) Any claim in respect of an interim digital games corporation tax credit under subsection (19) or a digital games corporation tax credit under subsection (20) (whether, in either case, the amount of the credit is to be treated as an overpayment of tax under subsection (22)(a) or paid to the company under subsection (22)(b)) shall, for the purposes of sections 851A and 851B, Chapter 4 of Part 38 and Part 47, be treated as a claim for a credit and the amount so claimed shall be treated as an amount of tax refundable.

(22F) Where a digital games development company specifies that an interim digital games corporation tax credit or a digital games corporation tax credit is to be treated, under subsection (22)(a), as an overpayment of tax, and where that amount is, under section 960H, offset in whole or in part against the company’s corporation tax payable (within the meaning of Part 41A) for the accounting period, then, for the purposes of calculating the amount of preliminary tax due in respect of that accounting period and the subsequent accounting period under section 959AR or 959AS, as the case may be, the amount of corporation tax payable by the company for that accounting period shall be reduced by the amount so offset.”,

(m) by the deletion of subsections (23) and (24),

(n) by the substitution of the following subsection for subsection (25):

“(25) In respect of any claim in respect of an interim digital games corporation tax credit or a digital games corporation tax credit, as the case may be, that remains unpaid, for the purposes of determining an amount in accordance with subsection (3) or (4) of section 1077F, a reference to an amount of tax that would have been payable for the relevant period by the person concerned shall be read as if it were a reference to the amount so claimed.”,

(o) by the substitution of the following subsection for subsection (26):

“(26) (a) Subject to paragraph (b), where a digital games development company makes a claim in respect of an interim digital games corporation tax credit or a digital games corporation tax credit and it is subsequently found that the claim is not as authorised by this section, then—

(i) the company,

(ii) any director of the company, or

(iii)any person referred to in subsection (13)(c),

may be charged to tax under Case IV of Schedule D for the accounting period, or year of assessment, as the case may be, in respect of which the payment was made, in an amount equal to—

(I) in the case of a company, 4 times, and

(II) in the case of an individual, one hundred fortieths,

of so much of the amount of the interim digital games corporation tax credit or the digital games corporation tax credit, as the case may be, as is not so authorised.

(b) An amount chargeable to tax under this subsection shall be treated—

(i) as income against which no loss, deficit, expense or allowance may be set off, and

(ii) as not forming part of the income of the company for the purposes of calculating a surcharge under section 440.”,

(p) in subsection (27), by the substitution of “The circumstances in which a claim is not authorised by this section shall include any circumstances where the amount was claimed under either or both subsection (19) and subsection (20), or paid or offset under subsection (22A)” for “The circumstances in which an unauthorised amount arises shall include any circumstances where the amount was claimed under either or both subsection (19) and subsection (20), or paid in accordance with subsection (23)”,

(q) by the substitution of the following subsection for subsection (28):

“(28) Where an amount is charged to tax in accordance with subsection (26), the amount so charged shall, for the purposes of section 1080, be deemed to be tax due and payable and shall carry interest as determined in accordance with subsection (2)(c) of section 1080 as if a reference to the date when the tax became due and payable were a reference to the date the amount was paid or offset, under section 960H, by the Revenue Commissioners.”,

and

(r) by the substitution of the following subsection for subsection (31):

“(31) No amount of an interim digital games corporation tax credit or a digital games corporation tax credit shall be paid or offset under subsection (22A) by the Revenue Commissioners in respect of an interim or final certificate issued after 31 December 2025.”.

(2) Subject to subsection (3), subsection (1) shall apply in respect of an accounting period commencing on or after 1 January 2024.

(3) Paragraphs (c), (d), (e) and (j) of subsection (1) shall have effect on and from 1 January 2024.

100. Miscellaneous technical amendments in relation to tax

100. The enactments specified in the Schedule—

(a) are amended to the extent and in the manner specified in paragraphs 1 to 6 of that Schedule, and

(b) apply and come into operation in accordance with paragraph 7 of that Schedule.

101. Care and management of taxes and duties

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

102. Short title, construction and commencement

102. (1) This Act may be cited as the Finance (No. 2) Act 2023.

(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) defective concrete products levy, shall be construed together with Part 18E of the Principal Act,

(c) residential zoned land tax, shall be construed together with Part 22A of the Principal Act,

(d) vacant homes tax, shall be construed together with Part 22B of the Principal Act,

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

(f) capital gains tax, shall be construed together with the Capital Gains Tax 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, 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 2024.

(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 Miscellaneous Technical Amendments in Relation to Tax

Section 100

(a) in section 20(1), by the substitution of “sections” for “sections sections”,

(b) in the Table to section 37, by the substitution of “Raidió Teilifís Éireann” for “Radio Telefís Éireann”,

(c) in section 216A—

(i) in subsection (5), by the substitution of “subsection (7)” for “subsections

(6) and (7)”, and

(ii) in subsection (7), by the substitution of “subsection (5)” for “subsections (5) and (6)”,

(d) in section 246A(2)(a)(x), by the substitution of “National Securities Clearing Corporation” for “National Securities Clearing System”,

(e) in section 247(4E)(f), by the substitution of “paragraph (b)” for “paragraph (a)”,

(f) in section 607(1)(d), by the substitution of “Raidió Teilifís Éireann” for “Radio Telefís Éireann”,

(g) in section 766(7)(a)(ii), by the deletion of “”,

(h) in section 790AA(1)(a), in the definition of ‘relevant pension arrangement’—

(i) by the substitution of the following subparagraph for subparagraph (vi): “(vi) a statutory scheme, within the meaning of section 770(1),

other than a public service pension scheme referred to in paragraph (v),”,

and

(ii) by the deletion of “other than a public service pension scheme referred to in paragraph (v);”,

(i) in section 790D—

(i) in subsection (4), by the substitution of “section 787G, or subsections (1) and (2) of section 787AA” for “787G, or in subsections (1) and (2) of section 787AA”,

(ii) in subsection (5), by the substitution of “vested PRSA,” for “vested PRSA, and”, and

(iii) in subsection (9)(b)(D), by the substitution of “the vested PEPP or vested PEPPs” for “the vested PEPP or PEPPs”,

(j) in section 817REA, by the substitution of the following subsection for subsection (8):

“(8) On there being made of—

(a) the Registrar of Beneficial Ownership of Companies and Industrial and Provident Societies,

(b) the Registrar of Beneficial Ownership of Irish Collective Asset-management Vehicles, Credit Unions and Unit Trusts,

(c) the Registrar of Beneficial Ownership of Trusts, or

(d) in the case of the Central Mechanism of Ownership of Bank and Payment Accounts and Safe-Deposit Boxes, the Central Bank of Ireland,

as the case may be, by an authorised DAC officer, a request for access, in accordance with subsection (4)(a), to a register or the Central Mechanism of Ownership of Bank and Payment Accounts and Safe-Deposit Boxes, as the case may be, referred to in subsection (4)(a), the Registrar concerned or the Central Bank of Ireland, as the case may be, shall afford the authorised DAC officer access, in a timely manner, to the register or the Central Mechanism of Ownership of Bank and Payment Accounts and Safe-Deposit Boxes, as the case may be.”,

(k) in section 838(1)(a), in the definition of “securities”, by the substitution of “Raidió Teilifís Éireann” for “Radio Telefís Éireann”,

(l) in section 959AJ(3), by the substitution of “section 959AF(1)” for “section 949AF(1)”,

(m) in section 1077A, in the definition of “the Acts”—

(i) by the deletion of paragraph (cb) (inserted by section 102(3) of the Finance Act 2022), and

(ii) by the insertion of the following paragraph after paragraph (cb) (inserted by section 96(14) of the Finance Act 2022):

“(cc) section 101 of the Finance Act 2022,”,

and

(n) in Schedule 13, by the substitution of the following paragraph for paragraph 59:

“59. Raidió Teilifís Éireann.”.

(a) in subsection (10), by the substitution of “practising” for “practicing”, and

(b) in subsection (11), by the substitution of “practising” for “practicing”.

(a) in subsection (22), by the substitution of “subsection (21)” for “subsection (20)”, and

(b) in subsection (23), by the substitution of “subsection (21)” for “subsection (20)”.

(a) in paragraph (a), by the substitution of “1,011 square metres” for “a quarter of an acre”, and

(b) in paragraph (b), by the substitution of “278 square metres” for “3,000 square feet”.

(b) Paragraph 6 shall come into operation on the day on which section 82 of the Finance Act 2022, insofar as that section relates to the insertion of section 891J(16) of the Taxes Consolidation Act 1997, comes into operation.