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Number 14 of 1982
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FINANCE ACT, 1982
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ARRANGEMENT OF SECTIONS
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PART I
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Income Tax, Resource 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 provisions relating to exemption from income tax.
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2.
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Personal reliefs.
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3.
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Alteration of rates of income tax.
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4.
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Benefit of use of a car.
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5.
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Allowance for rent paid by certain tenants.
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6.
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Special allowance in respect of P.R.S.I. for 1982-83.
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7.
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Amendment of section 152 (life insurance relief—general provisions) of Income Tax Act, 1967.
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8.
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Restriction of relief in respect of interest paid on certain loans at a reduced rate.
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9.
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Veterans of War of Independence.
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10.
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Amendment of section 485 (recovery by sheriff or county registrar) of Income Tax Act, 1967.
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11.
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Amendment of section 486 (power of Collector and authorised officers to sue) of Income Tax Act, 1967.
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12.
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Amendment of section 7 (relief for certain expenditure on residential premises) of Finance Act, 1979.
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Chapter II
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Taxation of Farming Profits
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13.
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Farming: provision relating to relief in respect of increase in stock values.
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14.
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Amendment of section 477 (time for payment of tax) of Income Tax Act, 1967.
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15.
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Amendment of section 21A (credit for rates) of Finance Act, 1974.
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16.
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Amendment of section 22 (farming: allowances for capital expenditure on construction of buildings and other works) of Finance Act, 1974.
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Chapter III
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Resource Tax
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17.
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Provisions relating to cesser of resource tax.
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Chapter IV
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Income Tax and Corporation Tax
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18.
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Exemption of employment payments and grants.
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19.
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Relief for expenditure on significant buildings.
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20.
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Business entertainment expenses.
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21.
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Restriction of relief for interest.
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22.
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Restriction of relief for interest on overdrafts.
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23.
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Restriction of relief for interest paid by companies.
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24.
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Amendment of provisions relating to relief in respect of increase in stock values.
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25.
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Application of section 31 (building societies) of Corporation Tax Act, 1976 , for year 1982-83.
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Chapter V
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Corporation Tax
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26.
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Rates of corporation tax.
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27.
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Payment of corporation tax and interest thereon.
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28.
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Reduction of corporation tax in relation to interest on certain loans to farmers.
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Chapter VI
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Tax on Chargeable Gains
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29.
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Interpretation (Chapter VI).
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30.
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Rates of charge.
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31.
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Corporation tax on chargeable gains of companies.
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32.
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Increase in exemption for individuals.
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33.
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Amendment of section 5 (amount chargeable and time of payment) of Principal Act.
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34.
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Disposal of certain assets.
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35.
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Amendment of section 90 (distributions made out of capital profits of companies) of Corporation Tax Act, 1976.
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36.
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Chargeable gains on disposals of development land.
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37.
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Exclusion of certain disposals.
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38.
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Restriction of indexation relief in relation to relevant disposals.
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39.
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Amendment of provisions regarding replacement of assets.
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40.
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Restriction of relief for losses etc. in relation to relevant disposals.
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41.
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Extension of section 19 (Government and other securities) of Principal Act.
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Chapter VII
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Corporation Tax: Assurance Companies
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42.
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Taxation of certain profits of assurance companies.
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Chapter VIII
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Corporation Tax: Relief in respect of Increase in Employment
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43.
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Interpretation (Chapter VIII).
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44.
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Base period.
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45.
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Deduction in computing trading income.
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46.
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Apportionments arising from transfer of part of trade.
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47.
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Determination of number of employment contributions.
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48.
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Succession to trade.
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49.
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Claims.
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Chapter IX
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Profit Sharing Schemes
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50.
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Interpretation (Chapter IX).
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51.
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Approved profit sharing schemes: appropriated shares.
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52.
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The period of retention, the release date and the appropriate percentage.
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53.
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Disposal of scheme shares.
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54.
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Capital receipts in respect of scheme shares.
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55.
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Company reconstructions, amalgamations etc.
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56.
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Excess or unauthorised shares.
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57.
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Assessment of trustees in respect of sums received.
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58.
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Schedule D deduction of payments to trustees.
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Chapter X
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Anti-avoidance and Anti-evasion
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59.
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Interest on unpaid taxes in cases of fraud or neglect.
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60.
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Amendment of certain provisions of Tax Acts relating to penalties.
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61.
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Purchase of shares by financial concerns and persons exempted from tax.
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62.
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Amendment of section 9 (consideration) of Capital Gains Tax Act, 1975.
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63.
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Restriction of Schedule 2 (companies and shareholders) of Capital Gains Tax Act, 1975.
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PART II
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Customs and Excise
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64.
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Interpretation (Part II).
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65.
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Duty on foreign travel.
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66.
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Hydrocarbons.
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67.
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Reduction of duty on motor vehicle parts and accessories and tyres.
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68.
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Reduction of duty on public dancing licences.
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69.
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Amendment of certain enactments relating to bookmakers.
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70.
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Amendment of section 78 (power to mitigate penalty) of Excise Management Act, 1827.
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71.
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Increase of excise duties on licences for mechanically propelled vehicles.
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72.
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Amendment of certain provisions relating to penalties for offences in relation to licensing and registration of motor vehicles.
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73.
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Confirmation of Orders.
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PART III
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Value-Added Tax
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74.
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Interpretation (Part III).
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75.
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Amendment of section 3 (delivery of goods) of Principal Act.
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76.
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Amendment of section 5 (rendering of services) of Principal Act.
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77.
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Amendment of section 8 (accountable persons) of Principal Act.
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78.
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Amendment of section 10 (amount on which tax is chargeable) of Principal Act.
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79.
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Amendment of section 11 (rates of tax) of Principal Act.
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80.
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Amendment of section 12 (deduction for tax borne or paid) of Principal Act.
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81.
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Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.
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82.
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Amendment of section 13 (remission of tax on goods exported etc.) of Principal Act.
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83.
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Amendment of section 14 (determination of tax due by reference to cash receipts) of Principal Act.
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84.
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Amendment of section 15 (charge of tax on imported goods) of Principal Act.
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85.
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Amendment of section 16 (duty to keep records) of Principal Act.
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86.
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Amendment of section 26 (penalties generally) of Principal Act.
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87.
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Amendment of First Schedule to Principal Act.
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88.
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Amendment of Second Schedule to Principal Act.
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89.
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Amendment of Third Schedule to Principal Act.
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90.
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Relief for hotels etc.
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PART IV
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Stamp Duties
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91.
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Levy on banks.
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92.
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Levy on certain premiums of insurance.
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93.
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Exemption of certain instruments from stamp duty.
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94.
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Amendment of First Schedule to Stamp Act, 1891.
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95.
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Amendment of section 41 (stamp duty on bills of exchange and promissory notes) of Finance Act, 1970.
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96.
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Amendment of section 19 (conveyance or transfer on sale—limit on stamp duty in respect of certain transactions between bodies corporate) of Finance Act, 1952.
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PART V
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Capital Acquisitions Tax
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97.
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Interpretation (Part V).
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98.
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Exemption of certain benefits.
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99.
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Amendment of section 5 (gift deemed to be taken) of Principal Act.
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100.
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Amendment of section 19 (value of agricultural property) of Principal Act.
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101.
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Amendment of section 36 (delivery of returns) of Principal Act.
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102.
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Amendment of Second Schedule to Principal Act.
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PART VI
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Miscellaneous
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103.
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Capital Services Redemption Account.
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104.
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Care and management of taxes and duties.
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105.
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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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Amendments Consequential on Changes in Rates of Corporation Tax
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Part I
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Application of sections 182 and 184 (relief in respect of certain losses and capital allowances) of Corporation Tax Act, 1976
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Part II
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Amendment of Chapter VI (Corporation Tax: Relief in Relation to Certain Income of Manufacturing Companies) of Finance Act, 1980
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THIRD SCHEDULE
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Profit Sharing Schemes
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Part I
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Approval of Schemes
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Part II
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Conditions as to the Shares
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Part III
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Individuals Ineligible to Participate
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Part IV
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Provisions as to the Trust Instrument
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Part V
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Interpretation
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FOURTH SCHEDULE
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Stamp Duty on Instruments
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Part I
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Part II
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Part III
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Acts Referred to
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Agriculture Act, 1931
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1931, No. 8
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Army Pensions Act, 1932
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1932, No. 24
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Assurance Companies Act, 1909
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1909, c. 49
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Betting Act, 1931
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1931, No. 27
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Capital Acquisitions Tax Act, 1976
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1976, No. 8
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Capital Gains Tax Act, 1975
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1975, No. 20
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Capital Gains Tax (Amendment) Act, 1978
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1978, No. 33
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Central Bank Act, 1971
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1971, No. 24
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Connaught Rangers (Pensions) Act, 1936
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1936, No. 37
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Corporation Tax Act, 1976
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1976, No. 7
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Customs Consolidation Act, 1876
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1876, c. 36
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Enforcement of Court Orders Act, 1926
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1926, No. 18
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Excise Management Act, 1827
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1827, c. 53
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Finance Act, 1902
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1902, c. 7
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Finance Act, 1920
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1920, c. 18
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Finance Act, 1926
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1926, No. 35
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Finance Act, 1950
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1950, No. 18
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Finance Act, 1952
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1952, No. 14
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Finance Act, 1961
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1961, No. 23
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Finance Act, 1968
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1968, No. 33
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Finance Act, 1969
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1969, No. 21
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Finance Act, 1970
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1970, No...
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