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Number 16 of 1976
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FINANCE ACT, 1976
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ARRANGEMENT OF SECTIONS
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PART I
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Income Tax, Sur-Tax, Corporation Profits Tax, Corporation Tax and Capital Gains Tax
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Chapter I
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Income Tax
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Section
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1.
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Amendment of section 128 (penalties) of Income Tax Act, 1967.
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2.
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Amendment of section 142 (dependent relatives) of Income Tax Act, 1967.
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3.
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Amendment of section 174 (power to require production of accounts and books) of Income Tax Act, 1967.
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4.
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Amendment of section 197 (separate assessments to income tax) of Income Tax Act, 1967.
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5.
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Amendment of section 316 (amount of assessment under section 434 to be allowed as a loss for certain purposes) of Income Tax Act, 1967.
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6.
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Amendment of section 477 (time for payment of tax) of Income Tax Act, 1967 and section 20 (interest on income tax and sur-tax in cases of fraud or neglect) of Finance Act, 1971.
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7.
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Amendment of section 497 (rate of tax at which repayments are to be made) of Income Tax Act, 1967.
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8.
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Amendment of section 525 (tax to be charged on consideration for certain restrictive covenants, etc.) of Income Tax Act, 1967.
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9.
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Amendment of section 1 (increase in certain rates of income tax) of Finance (No. 2) Act, 1975.
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10.
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Personal reliefs.
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11.
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Returns by married women.
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12.
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Relief for unincorporated bodies in respect of increase in stock values.
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13.
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Surcharge on certain income of trustees.
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14.
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Priority in bankruptcy and liquidation of certain sums.
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Chapter II
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Income Tax in Respect of Certain Emoluments
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15.
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Extension of Chapter IV (income tax in respect of certain emoluments) of Part V of Income Tax Act, 1967.
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16.
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Transitional provisions.
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17.
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Treatment for tax purposes of certain unpaid remuneration.
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Chapter III
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Taxation of Farming Profits
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18.
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Amendment of section 21 (notional basis of assessment) of Finance Act, 1974.
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19.
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Farm land occupied by certain persons.
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Chapter IV
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Payments to Sub-Contractors in the Construction Industry
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20.
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Payments to sub-contractors before 6th December, 1976.
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21.
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Payments to sub-contractors on or after 6th December, 1976.
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Chapter V
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Benefits in Kind
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22.
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Extension of charge to tax under section 52 (Schedule D) of Income Tax Act, 1967.
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23.
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Benefit in kind: minimum charge to tax in respect of use of vehicle.
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Chapter VI
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Income Tax, Sur-Tax, Corporation Profits Tax, Corporation Tax and Capital Gains Tax
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24.
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Amendment of sections 31 (income tax on certain dividends) and 37 (corporation profits tax on certain dividends) of Finance Act, 1973.
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25.
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Payments under Employment Premium Act, 1975.
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26.
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Amendment of section 31 (relief for companies in respect of increase in stock values) of Finance Act, 1975.
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27.
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Amendment of section 54 (meaning of “goods”) of Corporation Tax Act, 1976.
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28.
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Reduced rate of tax for certain interest.
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29.
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Interest on unpaid wealth tax and capital acquisitions tax.
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30.
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Appeals against assessments and payments on account.
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31.
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Increase in limit of capital allowances for vehicles.
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32.
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Restriction of deduction in respect of vehicles.
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33.
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Termination of relief in respect of certain profits of industrial and provident societies.
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34.
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Inspection of documents and records.
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PART II
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Customs and Excise
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35.
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Definition (Part II).
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36.
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Beer.
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37.
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Spirits.
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38.
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Tobacco.
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39.
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Wine and made wine.
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40.
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Hydrocarbon oils.
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41.
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Gaseous hydrocarbons in liquid form.
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42.
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Provisions relating to duty on gaseous hydrocarbons in liquid form for motor vehicles.
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43.
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Amendment of section 21 (duties on hydrocarbon oils) of Finance Act, 1935.
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44.
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Amendment of section 34 (amendments relative to penalties) of Finance Act, 1963.
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45.
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Making of customs entry and payment of duties on imported aircraft and ships.
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46.
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Confirmation of Orders.
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PART III
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Stamp Duties
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47.
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Extension of time for claiming repayment of certain stamp duties.
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48.
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Amendment of section 49 (exemption of certain instruments from stamp duty) of Finance Act, 1969.
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PART IV
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Value-Added Tax
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49.
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Commencement.
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50.
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Definitions (Part IV).
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51.
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Amendment of section 3 (delivery of goods) of Principal Act.
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52.
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Amendment of section 10 (amount on which tax is chargeable) of Principal Act.
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53.
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Amendment of section 11 (rates of tax) of Principal Act.
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54.
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Amendment of section 12 (deduction for tax borne or paid) of Principal Act.
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55.
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Amendment of section 15 (charge of tax on imported goods) of Principal Act.
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56.
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Amendment of section 21 (interest) of Principal Act.
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57.
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Amendment of section 26 (penalties generally) of Principal Act.
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58.
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Amendment of section 32 (regulations) of Principal Act.
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59.
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Amendment of section 34 (relief for stock-in-trade held on the specified day) of Principal Act.
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60.
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Substitution of new schedules for First, Second, Third and Fourth Schedules (exempted activities and rates of tax) to Principal Act.
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61.
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Consequential amendments.
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62.
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Priority in bankruptcy and winding-up.
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63.
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Transitional provisions in respect of motor vehicles.
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PART V
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Excise Duties on Mechanically Propelled Vehicles
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Chapter I
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General
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64.
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Interpretation and commencement (Part V).
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65.
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Regulations generally (Part V).
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66.
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Application of Part V.
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67.
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Certain particulars relating to and transfers of certain vehicles to be furnished to licensing authorities.
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Chapter II
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Liability for, and Consequences of Non-Payment of, Vehicle Excise Duty
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68.
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Payment and recovery of vehicle excise duty.
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69.
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Vehicles to which section 70 applies.
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70.
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Continuous liability for vehicle excise duty payable as regards certain vehicles.
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71.
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Using and keeping vehicles on which chargeable vehicle excise duty is unpaid.
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72.
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Additional liability for using vehicle on which vehicle excise duty is unpaid.
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Chapter III
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Miscellaneous
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73.
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Licences to be fixed to and exhibited on vehicles.
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74.
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Provisions supplementary to section 73.
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75.
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Onus of proof; defence.
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76.
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Penalties (Part V).
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77.
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Amendment of section 12 (regulations) of Act of 1920.
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78.
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Amendment of section 1 (excise duties in respect of mechanically propelled vehicles on public roads) of Act of 1952.
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79.
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Rates of vehicle excise duty.
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PART VI
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Miscellaneous
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80.
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Capital Services Redemption Account.
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81.
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Repeals.
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82.
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Care and management of taxes and duties.
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83.
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Short title, construction and commencement.
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FIRST SCHEDULE
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Amendment of Enactments
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SECOND SCHEDULE
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Rates of Excise Duty on Spirits
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THIRD SCHEDULE
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Rates of Excise Duty on Tobacco
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FOURTH SCHEDULE
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Rates of Excise Duties on Wine and Made Wine
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FIFTH SCHEDULE
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Enactments Repealed
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Acts Referred to
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Income Tax Act, 1967
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1967, No. 6.
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Income Tax (Employments) Regulations, 1960
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S.I. No. 28 of 1960 .
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Finance Act, 1975
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1975, No. 6.
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Finance Act, 1971
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1971, No. 23.
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Finance (No. 2) Act, 1975
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1975, No. 19.
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Finance Act, 1974
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1974, No. 27.
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Finance Act, 1972
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1972, No. 19.
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Finance Act, 1968
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1968, No. 33.
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Companies Act, 1963
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1963, No. 33.
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Finance Act, 1970
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1970, No. 14.
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Income Tax (Construction Contracts) Regulations, 1971
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S.I. No. 1 of 1971 .
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Finance (Miscellaneous Provisions) Act, 1968
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1968, No. 7.
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Housing Act, 1966
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1966, No. 21.
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Value-Added Tax Act, 1972
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1972, No. 22.
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Social Welfare (Pay-Related Benefit) Act, 1973
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1973, No. 2.
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Finance Act, 1920
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1920, c. 18.
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Finance Act, 1973
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1973, No. 19.
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Double Taxation Relief (Taxes on Income) (United Kingdom) Order, 1975
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S.I. No. 143 of 1975 .
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Employment Premium Act, 1975
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1975, No. 23.
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Corporation Tax Act, 1976
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1976, No. 7.
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European Communities (Common Agricultural Policy) (Market Intervention) Regulations, 1973
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S.I. No. 24 of 1973 .
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Wealth Tax Act, 1975
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1975, No. 25.
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Capital Acquisitions Tax Act, 1976
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1976, No. 8.
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Central Bank Act, 1971
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1971, No. 24.
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Imposition of Duties (No. 221) (Excise Duties) Order, 1975
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S.I. No. 307 of 1975 .
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Hydrocarbon Oil Regulations, 1941
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S.R. & O., No. 490 of 1941 .
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Finance Act, 1935
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1935, No. 28.
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Finance Act, 1942
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1942, No. 14.
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Finance Act, 1949
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1949, No. 13.
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Roads Act, 1920
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1920, c. 72.
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Finance Act, 1940
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1940, No. 14.
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Stamp Duties Management Act, 1891
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1891, c. 46.
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Finance Act, 1969
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1969, No. 21.
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Housing (Loans and Grants) Act, 1962
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1962, No. 27.
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European Communities (Customs) Regulations, 1972
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S.I. No. 334 of 1972 .
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Fertilisers, Feeding Stuffs and Mineral Mixtures Act, 1955
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1955, No. 8.
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Hydrocarbon Oil (Rebated Oil) Regulations, 1961
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S.I. No. 122 of 1961 .
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Preferential Payments in Bankruptcy (Ireland) Act, 1889
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1889, c. 60.
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Roads Act, 1920
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1920, c. 72.
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Finance (Excise Duties) (Vehicles) Act, 1952
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1952, No. 24.
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Local Authorities (Traffic Wardens) Act, 1975
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1975, No. 14.
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Road Traffic Act, 1961
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1961, No. 24.
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Imposition of Duties (No. 170) (Excise Duties) (Vehicles) Order, 1968
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S.I. No. 68 of 1968 .
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Imposition of Duties (No. 216) (Excise Duties) (Vehicles) Order, 1975
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S.I. No. 5 of 1975 .
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Finance Act, 1950
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1950, No. 18.
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Capital Gains Tax Act, 1975
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1975, No. 20.
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Stamp Act, 1891
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