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Number 9 of 1996
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FINANCE ACT, 1996
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ARRANGEMENT OF SECTIONS
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PART I
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Income 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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Alteration of rates of income tax.
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3.
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Personal reliefs.
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4.
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Taxation treatment of unemployment benefit in certain cases.
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5.
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Relief for payments made by certain persons in respect of alarm systems.
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6.
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Amendment of section 4 (benefit of use of a car) of Finance Act, 1982.
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7.
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Amendment of section 145 (insurance against expenses of illness) of Income Tax Act, 1967.
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8.
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Amendment of Second Schedule to Finance Act, 1992.
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9.
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Taxation treatment of Hepatitis C compensation payments.
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10.
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Amendment of section 10 (exemption of certain income from leasing of farm land) of Finance Act, 1985.
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11.
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Amendment of section 62 (trading stock of discontinued trade) of Income Tax Act, 1967.
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12.
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Amendment of section 12 (relief for new shares purchased on issue by employees) of Finance Act, 1986.
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13.
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Retirement annuities.
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14.
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Amendment of section 2 (exemption of certain earnings of writers, composers and artists) of Finance Act, 1969.
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15.
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Relief for fees paid for part-time third level education.
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CHAPTER II
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Income Tax: Relief for Investment in Corporate Trades
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16.
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Amendment of section 11 (Interpretation (Chapter III)) of Finance Act, 1984.
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17.
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Amendment of section 12 (the relief) of Finance Act, 1984.
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18.
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Amendment of section 13 (limits on relief) of Finance Act, 1984.
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19.
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Amendment of section 13A (restriction of relief where amounts raised exceed permitted maximum) of Finance Act, 1984.
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20.
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Certification in respect of shares exceeding £250,000.
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21.
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Transitional arrangements in relation to section 20.
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22.
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Amendment of section 15 (qualifying companies) of Finance Act, 1984.
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23.
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Amendment of section 16 (qualifying trades) of Finance Act, 1984.
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24.
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Amendment of section 16A (relevant trading operations) of Finance Act, 1984.
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CHAPTER III
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Income Tax, Corporation Tax and Capital Gains Tax
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25.
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Stud greyhound service fees.
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26.
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Amendment of section 41B (capital allowances in relation to construction or refurbishment of certain multistorey car-parks) of Finance Act, 1994.
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27.
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Amendment of section 22 (continuation of certain allowances, etc.) of Finance Act, 1991.
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28.
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Continuation of certain industrial buildings annual allowances.
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29.
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Amendment of section 255 (meaning of “industrial building or structure”) of Income Tax Act, 1967.
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30.
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Amendment of Chapter III (Income Tax and Corporation Tax: Reliefs for Renewal and Improvement of Certain Resort Areas) of Part I of Finance Act, 1995.
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31.
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Relief for investment in films.
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32.
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Treatment of patent royalties and related distributions.
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33.
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Amendment of section 31 (interest payments by companies and to non-residents) of Finance Act, 1974.
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34.
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Allowance for mine rehabilitation expenditure.
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35.
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Amendment of section 18 (taxation of collective investment undertakings) of Finance Act, 1989.
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36.
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Amendment of section 13 (special investment schemes) of Finance Act, 1993.
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37.
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Amendment of section 14 (special portfolio investment accounts) of Finance Act, 1993.
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38.
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Amendment of section 17 (undertakings for collective investment) of Finance Act, 1993.
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39.
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Exemption of bodies designated under section 4 of Securitisation (Proceeds of Certain Mortgages) Act, 1995, from certain tax provisions.
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40.
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Treatment under Tax Acts of certain employment grants and recruitment subsidies.
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41.
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Amendment of section 17 (tax deduction from payments to sub-contractors) of Finance Act, 1970.
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42.
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Provisions supplemental to section 33 of Finance Act, 1986, relating to interest payments by certain deposit takers.
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43.
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Amendment of section 51 (application of certain allowances in relation to certain areas and certain expenditure) of Finance Act, 1988.
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CHAPTER IV
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Corporation Tax
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44.
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Reduced rate of corporation tax for certain income.
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45.
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Amendment of section 12A (foreign currency: computation of income and chargeable gains) of Corporation Tax Act, 1976.
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46.
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Amendment of section 33 A (acquisition expenses) of Corporation Tax Act, 1976.
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47.
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Amendment of section 35A (chargeable gains of life business) of Corporation Tax Act, 1976.
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48.
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Amendment of section 36 (investment income reserved for policy holders) of Corporation Tax Act, 1976.
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49.
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Amendment of section 36A (special investment policies) of Corporation Tax Act, 1976.
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50.
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Amendment of section 46B (gains or losses arising by virtue of section 46A) of Corporation Tax Act, 1976.
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51.
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Amendment of section 135 (company ceasing to be a member of a group) of Corporation Tax Act, 1976.
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52.
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Amendment of section 162 (surcharge on undistributed income of service companies) of Corporation Tax Act, 1976.
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53.
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Amendment of section 39A (relief in relation to income from certain trading operations carried on in Shannon Airport) of Finance Act, 1980.
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54.
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Amendment of section 28 (relief in relation to income from qualifying shipping trade) of Finance Act, 1987.
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55.
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Amendment of section 31 (securitisation of assets) of Finance Act, 1991.
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56.
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Amendment of section 56 (relief for gifts to The Enterprise Trust Ltd.) of Finance Act, 1992.
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57.
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Amendment of section 59 (deduction for certain expenditure on research and development) of Finance Act, 1995.
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58.
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Amendment of Chapter VII (advance corporation tax) of Part I of the Finance Act, 1983.
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CHAPTER V
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Capital Gains Tax
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59.
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Amendment of paragraph 11 (disposal of certain assets) of Schedule 4 to Capital Gains Tax Act, 1975.
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60.
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Amendment of section 26 (disposal of business or farm on retirement) of Capital Gains Tax Act, 1975.
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61.
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Amendment of section 46 (debts) of Capital Gains Tax Act, 1975.
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62.
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Amendment of section 27 (relief for individuals on certain reinvestment) of Finance Act, 1993.
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63.
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Amendment of section 66 (reduced rate of capital gains tax on certain disposals of shares by individuals) of Finance Act, 1994.
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64.
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Exemption of certain milk boards and associated companies from capital gains tax.
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CHAPTER VI
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Income Tax and Corporation Tax: Reliefs for Renewal and Improvement of Residential Accommodation on Certain Islands
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65.
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Interpretation (Chapter VI).
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66.
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Deduction for certain expenditure on construction of rented residential accommodation.
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67.
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Rented residential accommodation: deduction for expenditure on conversion.
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68.
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Rented residential accommodation: deduction for expenditure on refurbishment.
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69.
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Residential accommodation: allowance to owner-occupiers in respect of expenditure on construction or refurbishment.
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70.
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Provisions supplementary to sections 66 to 69.
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PART II
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Customs & Excise
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CHAPTER I
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Vehicle Registration Tax
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71.
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Interpretation (Chapter I).
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72.
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Amendment of section 130 (interpretation) of Act of 1992.
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73.
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Amendment of section 135B (repayment of amounts in respect of vehicle registration tax in certain cases) of Act of 1992.
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74.
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Amendment of section 141 (regulations) of Act of 1992.
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CHAPTER II
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Miscellaneous
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75.
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Exemption from duty on certain bets.
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76.
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Reductions of duty on certain gaming machine licences.
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77.
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Amendment of section 155 (spirits retailers' on-licences) of Finance Act, 1992.
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78.
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Amendment of section 92 (tax concessions for disabled drivers, etc) of Finance Act, 1989.
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79.
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Hydrocarbons and substitute motor fuel.
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80.
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Amendment of section 56 (hydrocarbons) of Finance Act, 1988.
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81.
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Amendment of section 74 (deferment of duty on beer) of Finance Act, 1993.
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82.
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Spirits.
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83.
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Tobacco products.
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84.
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Amendment of section 7 (ascertainment of retail prices of tobacco products) of Finance (Excise Duty on Tobacco Products) Act, 1977.
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85.
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Amendment of section 10A (offences in relation to tax stamps) of Finance (Excise Duty on Tobacco Products) Act, 1977.
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86.
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Amendment of Finance (Excise Duties) (Vehicles) Act, 1952.
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PART III
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Value-Added Tax
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87.
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Interpretation (Part III).
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88.
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Amendment of section 1 (interpretation) of Principal Act.
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89.
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Amendment of section 3 (supply of goods) of Principal Act.
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90.
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Amendment of section 5 (supply of services) of Principal Act.
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91.
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Amendment of section 10B (special scheme for auctioneers) of Principal Act.
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92.
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Amendment of section 11 (rates of tax) of Principal Act.
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93.
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Amendment of section 12 (deductions for tax borne or paid) of Principal Act.
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94.
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Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.
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95.
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Amendment of section 13A (supplies to, and intra-Community acquisitions and imports by, certain taxable persons) of Principal Act.
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96.
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Amendment of section 15 (charge of tax on imported goods) of Principal Act.
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97.
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Amendment of section 17 (invoices) of Principal Act.
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98.
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Amendment of Second Schedule to Principal Act.
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99.
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Amendment of Sixth Schedule to Principal Act.
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100.
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Revocation (Part III).
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PART IV
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Stamp Duties
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CHAPTER I
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Special provisions relating to uncertiflcated securities
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101.
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Interpretation (Chapter I).
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102.
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Operator-instruction deemed to be an instrument...
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