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First | Previous (PART 7 Anti-Speculative Property Tax) | Next (SCHEDULE 1 Amendments Consequential on Changes in Personal Reliefs) |
FINANCE ACT, 2001
PART 8 Miscellaneous | ||||
Interpretation (Part 8). |
231. —In this Part “Principal Act” means the Taxes Consolidation Act, 1997 . | |||
Amendment of Chapter 3 (other obligations and returns) of Part 38 of Principal Act. |
232. —(1) Chapter 3 of Part 38 of the Principal Act is amended— | |||
(a) by the substitution for section 887 of the following: | ||||
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(b) by the deletion of section 893, | ||||
(c) by the deletion in section 894(2) of paragraph (d), | ||||
(d) by the substitution for section 896 of the following: | ||||
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and | ||||
(e) by the substitution in section 903(1) in the definition of “records” for “stored by any means approved under section 887” of “stored in accordance with section 887”. | ||||
(2) (a) In this subsection “chargeable period” has the same meaning as in section 321(2). | ||||
(b) Subsection (1) shall apply as respects any chargeable period commencing on or after 15 February 2001. | ||||
(3) (a) The Principal Act is amended— | ||||
(i) in section 887 (substituted by subsection (1)(a)) by the substitution in subsection (5)(b) for “£1,000” of “€1,265”, and | ||||
(ii) in section 896 (inserted by subsection (1)(d)) by the substitution in subsections (3) and (4) for “£1,500” of “€1,900”. | ||||
(b) This subsection shall apply as on and from 1 January 2002. | ||||
Amendment of section 1078 (revenue offences) of Principal Act. |
233. —(1) Section 1078(3) of the Principal Act is amended by the substitution in paragraph (a) of “£1,500” for “£1,000”. | |||
(2) (a) Section 1078(3) of the Principal Act is amended by the substitution in paragraph (a) of “€1,900” for “£1,500”. | ||||
(b) This subsection shall apply as on and from 1 January 2002. | ||||
Amendment of section 1094 (tax clearance in relation to certain licences) of Principal Act. |
234. —Section 1094 of the Principal Act is amended in subsection (1), in the definition of “licence” by the addition of the following paragraph after paragraph (k): | |||
“(l) subsection (1A) (inserted by section 172 of the Finance Act, 2001) of section 2 of the Intoxicating Liquor (National Concert Hall) Act, 1983 ;”. | ||||
Amendment of Chapter 6 (electronic transmission of returns of income, profits, etc., and of other Revenue returns) of Part 38 of Principal Act. |
235. —Chapter 6 of Part 38 of the Principal Act is amended with effect from 15 February 2001— | |||
(a) in section 917D(1)— | ||||
(i) by the substitution— | ||||
(I) for the definition of “digital signature” of the following: | ||||
“‘digital signature’, in relation to a person, means an advanced electronic signature (within the meaning of the Electronic Commerce Act, 2000 ) provided to the person by the Revenue Commissioners solely for the purpose of making an electronic transmission of information which is required to be included in a return to which this Chapter applies and for no other purpose and a qualified certificate (within the meaning of that Act) provided to the person by the Revenue Commissioners or a person appointed in that behalf by the Revenue Commissioners;”, | ||||
(II) for the definition of “return” of the following: | ||||
“‘return’ means any return, claim, application, notification, election, declaration, nomination, statement, list, registration, particulars or other information which a person is or may be required by the Acts to give to the Revenue Commissioners or any Revenue officer;”, | ||||
and | ||||
(ii) by the deletion of subsection (2); | ||||
(b) in section 917F— | ||||
(i) by the substitution in paragraph (c) of subsection (1) for “the approved person's digital signature” of “the approved person's or the authorised person's digital signature”, and | ||||
(ii) by the substitution for subsection (5) of the following: | ||||
“(5) Where an approved transmission is made by— | ||||
(a) an approved person on behalf of another person, or | ||||
(b) an authorised person on behalf of another person (not being the person who authorised that person), | ||||
a hard copy of the information shall be made and authenticated in accordance with section 917K.”; | ||||
(c) in section 917G— | ||||
(i) by the substitution in subsection (1) for “complies with the provisions of this section and, in particular, with the conditions specified in subsection (3)” of “complies with the condition specified in subsection (3)(a) in relation to authorised persons and the condition specified in subsection (3)(b) in relation to the making of transmissions and the use of digital signatures”, | ||||
(ii) by the substitution in subsection (2) for “in writing or by such other means as may be approved by the Revenue Commissioners” of “by such means as the Revenue Commissioners may determine”, and | ||||
(iii) by the substitution for subsection (3) of the following: | ||||
“(3) The conditions referred to in subsection (1) are that— | ||||
(a) the person notifies the Revenue Commissioners in a manner to be determined by the Revenue Commissioners of the persons (each of whom is referred to in this section as an ‘authorised person’), in addition to the person, who are authorised to make the transmission, and | ||||
(b) the person and each person who is an authorised person in relation to that person in making the transmission complies with the requirements referred to in subsections (2) and (3) of section 917H.”; | ||||
(d) by the substitution in section 917H for subsections (2) and (3) of the following: | ||||
“(2) The Revenue Commissioners shall publish and make known to each approved person and each authorised person any requirement for the time being determined by them as being applicable to— | ||||
(a) the manner in which information which is required to be included in a return to which this Chapter applies is to be transmitted electronically, and | ||||
(b) the use of a person's digital signature. | ||||
(3) The requirements referred to in subsection (2) include— | ||||
(a) requirements as to the software or type of software to be used to make a transmission, | ||||
(b) the terms and conditions under which a person may make a transmission, and | ||||
(c) the terms and conditions under which a person may use that person's digital signature.”; | ||||
(e) by the deletion of section 917I; | ||||
(f) in section 917K(1)(a) by the substitution for “to be transmitted” of “transmitted or to be transmitted”, and | ||||
(g) in section 917M(3) by the substitution for “for the purposes of any proceedings in relation to which the certificate is given” of “for the purposes of the Acts”. | ||||
Certificates in court procedings. |
236. —As on and from the passing of this Act, the Principal Act is amended— | |||
(a) in Chapter 1 of Part 42— | ||||
(i) by the substitution in section 966 of the following for subsection (5): | ||||
“(5) In proceedings pursuant to this section a certificate signed by an officer of the Revenue Commissioners certifying the following facts: | ||||
(a) that before the institution of the proceedings a stated sum for income tax became due and payable by the defendant— | ||||
(i) under an assessment which had become final and conclusive, or | ||||
(ii) under section 942(6), | ||||
and | ||||
(b) (i) that before the institution of the proceedings payment of that stated sum was duly demanded from the defendant, and | ||||
(ii) that that stated sum or a stated part of that sum remains due and payable by the defendant, | ||||
shall be evidence until the contrary is proved of those facts.”, | ||||
and | ||||
(ii) by the substitution of the following for section 967: | ||||
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and | ||||
(b) by the substitution in section 1080 of the following for subsection (4): | ||||
“(4) In proceedings instituted by virtue of subsection (3)— | ||||
(a) a certificate signed by an officer of the Revenue Commissioners certifying that a stated amount of interest is due and payable by the person against whom the proceedings were instituted shall be evidence until the contrary is proved that that amount is so due and payable, and | ||||
(b) a certificate so certifying and purporting to be signed as specified in this section may be tendered in evidence without proof and shall be deemed until the contrary is proved to have been signed by an officer of the Revenue Commissioners.”. | ||||
Amendment of Chapter 4 (collection and recovery of income tax on certain emoluments (PAYE system) of Part 42 of Principal Act. |
237. —Chapter 4 of Part 42 of the Principal Act is amended— | |||
(a) in section 990— | ||||
(i) by the insertion of the following after subsection (1): | ||||
“(1A) (a) Where— | ||||
(i) a notice is served on an employer under subsection (1) in relation to a year of assessment (being the year of assessment 2000-2001 or a subsequent year of assessment), and | ||||
(ii) prior to the service of the notice, the employer had failed to submit to the Collector-General, in relation to that year of assessment, the return required by Regulation 35 of the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960), | ||||
then, if, within 14 days after the service of the notice, the employer— | ||||
(I) sends that return to the Collector-General, and | ||||
(II) pays any balance of tax remaining unpaid for the year of assessment in accordance with the return, together with any interest and costs which may have been incurred in connection with the default, | ||||
the notice shall, subject to paragraph (c), stand discharged and any excess of tax which may have been paid shall be repaid. | ||||
(b) If, on expiration of the period referred to in paragraph (a), the employer has not complied with subparagraphs (I) and (II) of paragraph (a), the balance of tax remaining unpaid as specified in the notice shall become due and recoverable in the like manner as if the balance of tax had been charged on the employer under Schedule E. | ||||
(c) Where action for the recovery of tax specified in a notice under subsection (1) has been taken, being action by means of the institution of proceedings in any court or the issue of a certificate under section 962, so much of paragraph (a) as relates to the discharge of the notice shall not, unless the Collector-General otherwise directs, apply in relation to that notice until that action has been completed.”, | ||||
and | ||||
(ii) by the insertion in subsection (2) of the following after “subsection (1)”: | ||||
“and prior to such service the employer had sent to the Collector-General the return required by Regulation 35 of the Income Tax (Employment) Regulations, 1960 (S.I. No. 28 of 1960)”, | ||||
(b) in section 991, by the insertion of the following after subsection (1): | ||||
“(1A) Notwithstanding anything in subsection (1) but subject to subsection (1B), where an amount of tax (in this subsection referred to as ‘the relevant amount’) in respect of a year of assessment (being the year of assessment 2000-2001 or a subsequent year of assessment) is paid later than 14 days after the end of that year of assessment, interest in accordance with subsection (1) shall be payable and calculated— | ||||
(a) where the relevant amount does not exceed 10 per cent of the total amount of tax which the employer was liable under this Chapter and any regulations made under this Chapter to pay to the Revenue Commissioners for that year of assessment, as if the due date for payment of the relevant amount was the 14th day immediately following the end of the year of assessment, and | ||||
(b) where the relevant amount exceeds 10 per cent of the amount so payable, as if the due date for payment of the relevant amount was— | ||||
(i) as respects the year of assessment 2000-2001, 31 October, 2000, | ||||
(ii) as respects the year of assessment 2001, 30 September, 2001, and | ||||
(iii) as respects the year of assessment 2002 and subsequent years of assessment, 31 July in the year. | ||||
(1B) Where, within 1 month of interest being demanded by the Collector-General in accordance with subsection (1A), the employer declares in writing to the Collector-General the amounts of tax which he or she was liable to remit, but had not remitted, for each of the income tax months comprised in the year of assessment, interest shall be calculated and payable in respect of those amounts in accordance with subsection (1), without regard to subsection (1A).”, | ||||
and | ||||
(c) by the insertion of the following after section 991: | ||||
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Amendment of section 1002 (deduction from payments due to defaulters of amounts due in relation to tax) of Principal Act. |
238. —Section 1002 of the Principal Act is amended, in paragraph (a) of subsection (3), by the substitution for “one month” of “14 days”, and the said paragraph (a), as so amended, is set out in the Table to this section. | |||
TABLE | ||||
(a) a period of 14 days has expired from the date on which such default commenced, and | ||||
Amendment of section 1006A (offset between taxes) of Principal Act. |
239. —Section 1006A of the Principal Act is amended— | |||
(a) in subsection (1) in the definition of “liability” by the insertion after “as appropriate” of “, and includes any interest due under the Acts in relation to such tax, duty, levy or other charge”, and | ||||
(b) by the substitution of the following for subsection (2): | ||||
“(2) Notwithstanding any other provision of the Acts, where the Revenue Commissioners are satisfied that a person has not complied with the obligations imposed on the person by the Acts, in relation to either or both— | ||||
(a) the payment of a liability required to be paid, and | ||||
(b) the delivery of returns required to be made, | ||||
they may, in a case where a repayment is due to the person in respect of a claim or overpayment— | ||||
(i) where paragraph (a) applies, or where paragraphs (a) and (b) apply, instead of making the repayment set the amount of the claim or overpayment against any liability due under the Acts, and | ||||
(ii) where paragraph (b) only applies, withhold making the repayment until such time as the returns required to be delivered have been delivered. | ||||
(2A) Where the Revenue Commissioners have set or withheld a repayment by virtue of subsection (2), they shall give notice in writing to that effect to the person concerned and, where subsection (2)(ii) applies, interest shall not be payable under any provision of the Acts from the date of such notice in respect of any repayment so withheld.”. | ||||
Amendment of enactments consequent on changeover to Euro. |
240. —(1) (a) Subject to subsection (2), in each provision specified in column (1) of Schedule 5 for the words or amount set out in column (2) of that Schedule at that entry there shall be substituted the words or amount set out at the corresponding entry in column (3) of that Schedule. | |||
(b) Where words are or an amount is mentioned more than once in a provision specified in column (1) of Schedule 5, then the substitution provided for by paragraph (a) shall apply as respects those words or that amount to each mention of those words or that amount in that provision. | ||||
(2) Subsection (1) shall apply— | ||||
(a) to the extent that the amendments relate to income tax and related matters, other than the amendments relating to such matters referred to in subparagraphs (ii), (iii), (iv), (v) and (vi) of paragraph (l), as respects the year of assessment 2002 and subsequent years of assessment, | ||||
(b) to the extent that the amendments relate to capital gains tax and related matters, other than the amendments relating to such matters referred to in paragraph (l) (vii), as respects the year of assessment 2002 and subsequent years of assessment, | ||||
(c) to the extent that the amendments relate to corporation tax and related matters, other than the amendments relating to such matters referred to in subparagraphs (i), (iii) and (iv) of paragraph (l), for accounting periods ending on or after 1 January 2002, | ||||
(d) to the extent that the amendments relate to customs duties and related matters, as on and from 1 January 2002, | ||||
(e) to the extent that the amendments relate to duties of excise and related matters, as on and from 1 January 2002, | ||||
(f) to the extent that the amendments relate to value-added tax and related matters, as on and from 1 January 2002, | ||||
(g) to the extent that the amendments relate to capital acquisitions tax and related matters, other than the amendments relating to such matters referred to in subparagraphs (viii) and (ix) of paragraph (l), as respects gifts or inheritances taken on or after 1 January 2002, | ||||
(h) to the extent that the amendments relate to stamp duties and related matters, other than the amendments relating to such matters referred to in subparagraphs (x), (xi), (xii) and (xiii) of paragraph (l), as respects instruments executed on or after 1 January 2002, | ||||
(i) to the extent that section 1086 of the Taxes Consolidation Act, 1997 is amended, as respects specified sums such as are referred to in paragraphs (c) and (d) of section 1086(2) of that Act which the Revenue Commissioners accept or undertake to accept on or after 1 January 2002, | ||||
(j) to the extent that section 100 of the Finance Act, 1983 is amended, as respects any sale of an estate or interest in residential property the date of the contract for which is on or after 1 January 2002, | ||||
(k) to the extent that the enactment amended imposes any fine, forfeiture, penalty or punishment for any act or omission, as respects any act or omission which takes place or begins on or after 1 January 2002, | ||||
and | ||||
(l) to the extent that— | ||||
(i) section 110 of the Taxes Consolidation Act, 1997 (in this paragraph referred to as the “Act of 1997”) is amended, as respects a company acquiring qualifying assets on or after 1 January 2002, | ||||
(ii) sections 201 and 202 of the Act of 1997 and Schedule 3 to that Act are amended, as respects payments made on or after 1 January 2002, | ||||
(iii) section 404(6) of the Act of 1997 is amended, as respects a lease entered into on or after 1 January 2002, | ||||
(iv) section 481(2)(c) of the Act of 1997 is amended, as respects a certificate issued under subsection (2)(a)(i) of that section on or after 1 January 2002, | ||||
(v) section 491 of the Act of 1997 is amended, as respects eligible shares (within the meaning of section 488 of that Act) issued on or after 1 January 2002, | ||||
(vi) section 494(1) of the Act of 1997 is amended, as respects a relevant investment (within the meaning of section 488 of that Act) being an individual's first such investment made on or after 1 January 2002, and sections 494(5) and 494(6)(b) of that Act are amended, as respects a subscription for eligible shares (within the meaning of section 488 of that Act) where the specified date (within the meaning of section 494 of that Act) in relation to that subscription is a date on or after 1 January 2002, | ||||
(vii) sections 598 and 602 of the Act of 1997 are amended, as respects disposals made on or after 1 January 2002, | ||||
(viii) the First and Second Schedule to the Capital Acquisitions Tax Act, 1976 and section 54(1)(b) of that Act are amended, as respects the computation of tax on gifts and inheritances taken on or after 1 January 2002, | ||||
(ix) sections 146(4B)(a)(i)(I), 146(4B)(a)(i)(II)(B), 146 (4C)(b) and 146(4C)(c) of the Finance Act, 1994 are amended, as respects applications for registration made on or after 1 January 2002, | ||||
(x) sections 117(1) and 117(2)(a) of the Stamp Duties Consolidation Act, 1999 (in this paragraph referred to as the “Act of 1999”) are amended, as respects transactions occurring on or after 1 January 2002, | ||||
(xi) sections 123(3)(b)(ii) and 123(4) of the Act of 1999 are amended, as respects any statement which falls to be delivered by a promoter under section 123 of that Act, on or after 1 January 2002, and | ||||
(xii) sections 124(1)(c), 124(2)(c) and 124(2)(d)(ii) of the Act of 1999 are amended, as respects any statement which falls to be delivered by a bank or promoter under section 124 of that Act on or after 1 January 2002, and | ||||
(xiii) section 146(3) of the Act of 1999 is amended, as respects any licence granted by the Commissioners under section 146(1) of that Act on or after 1 January 2002. | ||||
Deletion of certain references to Bord Telecom Éireann and Irish Telecommunications Investments plc. in Principal Act. |
241. —(1) The Principal Act is amended by the deletion— | |||
(a) in the Table to section 37 of the words “Securities issued on or after the 25th day of May, 1988, by Bord Telecom Éireann” and “Securities issued on or after the 25th day of May, 1988, by Irish Telecommunications Investments plc.”, | ||||
(b) in section 607(1)(d) of the words “Bord Telecom Éireann, Irish Telecommunications Investments plc.,”, and | ||||
(c) in section 838(1)(a), in paragraph (ii) of the definition of “securities”, of the words “Bord Telecom Éireann, Irish Telecommunications Investments plc.,”. | ||||
(2) This section shall have effect as respects any securities issued by Bord Telecom Éireann or Irish Telecommunications Investments plc. on or after 15 February 2001. | ||||
Care and management of taxes and duties. |
242. —All the taxes and duties imposed by this Act are placed under the care and management of the Revenue Commissioners. | |||
Short title, construction and commencement. |
243. —(1) This Act may be cited as the Finance Act, 2001 . | |||
(2) Part 1 (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts and (so far as relating to capital gains tax) shall be construed together with the Capital Gains Tax Acts. | ||||
(3) Parts 2 and 3 (so far as relating to duties of excise) shall be construed together with the statutes which relate to the duties of excise and to the management of those duties and Part 3 (so far as relating to customs) shall be construed together with the Customs Acts. | ||||
(4) Part 4 shall be construed together with the Value-Added Tax Acts, 1972 to 2000, and may be cited together therewith as the Value-Added Tax Acts, 1972 to 2001. | ||||
(5) Part 5 shall be construed together with the Stamp Duties Consolidation Act, 1999 . | ||||
(6) Part 6 (so far as relating to capital acquisitions tax) shall be construed together with the Capital Acquisitions Tax Act, 1976 , and the enactments amending or extending that Act. | ||||
(7) Part 7 (so far as relating to anti-speculative property tax) shall be construed together with the Finance (No. 2) Act, 2000 . | ||||
(8) Part 8 (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts and (so far as relating to capital gains tax) shall be construed together with the Capital Gains Tax Acts and (so far as relating to value-added tax) shall be construed together with the Value-Added Tax Acts, 1972 to 2001 and (so far as relating to residential property tax) shall be construed together with Part VI of the Finance Act, 1983 , and the enactments amending or extending that Part and (so far as relating to gift tax or inheritance tax) shall be construed together with the Capital Acquisitions Tax Act, 1976 , and the enactments amending or extending that Act. | ||||
(9) Part 1 shall, save as is otherwise expressly provided therein, apply as on and from 6 April 2001. | ||||
(10) In relation to Part 4: | ||||
(a) sections 181, 187 and 189 shall be deemed to have come into force and shall take effect as on and from 1 January 2001; | ||||
(b) paragraph (b) of section 188 shall be deemed to have come into force and shall take effect as on and from 8 January 2001; | ||||
(c) paragraphs (c), (d) and (e) of section 199 , and section 200 , shall have effect as on and from 1 May 2001; | ||||
(d) paragraphs (b) and (c) of section 193 shall have effect as on and from 1 July 2001; | ||||
(e) paragraphs (a) and (b) of section 199 shall have effect as on and from 1 September 2001; | ||||
(f) section 198 shall have effect as on and from 1 January 2002; | ||||
(g) the provisions of this Part, other than those specified in paragraphs (a) to (f) shall have effect as on and from the date of passing of this Act. | ||||
(11) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment including this Act. | ||||
(12) In this Act, a reference to a Part, section or Schedule is to a Part or section of, or Schedule to, this Act, unless it is indicated that reference to some other enactment is intended. | ||||
(13) In this Act, a reference to a subsection, paragraph, subparagraph, clause or subclause is to the subsection, paragraph, subparagraph, clause or subclause of the provision (including a Schedule) in which the reference occurs, unless it is indicated that reference to some other provision is intended. |