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21 1969

FINANCE ACT, 1969

PART VII

Turnover Tax

Amendment of section 46 of Finance Act, 1963.

55. —(1) Section 46 of the Finance Act, 1963 , is hereby amended by the insertion of the following definition after the definition of “hotel

“‘moneys received’ includes—

(a) money lodged or credited to the account of a person in any bank, savings bank, building society, hire purchase finance concern or similar financial concern, and

(b) money, other than money referred to in paragraph (a) of this definition, which, under an agreement, other than an agreement providing for discount or a price adjustment made in the ordinary course of business, or an arrangement with creditors, has ceased to be due to a person, and money lodged or credited to the account of a person as aforesaid shall be deemed to have been received by the person on the date of the making of the lodgment or credit and money which has ceased to be due to a person as aforesaid shall be deemed to have been received by the person on the date of the cesser.”.

(2) This section shall have, and be deemed to have had, effect as on and from the 8th day of May, 1969.

Amendment of section 64 of Finance Act, 1963.

56. —(1) Section 64 of the Finance Act, 1963 , is hereby amended—

(a) by the substitution of “sections 48 and 50 to 63” for “sections 48 to 63” in subsection (1), and

(b) by the substitution of the following subsection for subsection (2):

“(2) Tax as aforesaid shall not be charged on—

(a) an article the sale of which for delivery within the State would, apart from any exemption in relation to sales of such articles to or by persons of a particular class, be an exempted activity for the purposes of section 48 (2) of this Act,

(b) an article mentioned in the Second Schedule to this Act imported as stock for his business by a registered person who is a dealer in such articles,

(c) an article, not being an article mentioned in the Second Schedule to this Act, imported—

(i) as stock for his business,

(ii) as materials for manufacture,

(iii) as furniture, fittings, office requisites, plant or equipment for his business,

by a registered person,

(d) an article (other than a motor vehicle designed for the conveyance of persons by road or hydrocarbon oil for road transport vehicles) imported by a body corporate which establishes to the satisfaction of the Revenue Commissioners that its main activity consists in the transport of passengers or goods outside the State and that the article is imported for use in its business,

(e) an article imported by the Commissioners of Irish Lights for use in the maintenance of lightships or lighthouses.”

(2) Subsection (1) of this section shall come into operation in respect of articles imported on or after the first day of the month immediately following that in which this Act is passed and, in relation to such articles, the tax provided for by section 47 (1) (b) of the Finance Act, 1963 , shall be charged, levied and paid as if no order had been made under section 64 of the said Act