FINANCE ACT 2012
Jurisdiction | Ireland |
Citation | IR No. 9/2012 |
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Number 9 of 2012 |
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FINANCE ACT 2012 |
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ARRANGEMENT OF SECTIONS |
PART 1 |
Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax |
Chapter 1 |
Interpretation |
Section |
1. Interpretation (Part 1). |
Chapter 2 |
Universal Social Charge |
2. Universal social charge: miscellaneous amendments. |
3. Universal social charge: surcharge on use of property incentives. |
Chapter 3 |
Income Levy and Income Tax |
4. Share-based remuneration. |
5. Amendment of Schedule 23A (specified occupations and professions) to Principal Act. |
6. Amendment of section 470B (age-related relief for health insurance premiums) of Principal Act, etc. |
7. Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act. |
8. Relief for key employees engaged in research and development activities. |
9. Amendment of section 244 (relief for interest paid on certain home loans) of Principal Act. |
10. Amendment of section 472A (relief for the long term unemployed) of Principal Act. |
11. Amendment of section 473A (relief for fees paid for third level education, etc.) of Principal Act. |
12. Deduction for income earned in certain foreign states. |
13. Amendment of section 825B (repayment of tax where earnings not remitted) of Principal Act. |
14. Special assignee relief programme. |
15. Provisions relating to PAYE. |
16. Changes relating to tax relief for lessors, carried forward losses and balancing charges. |
17. Provisions in relation to property incentives and capital allowances. |
18. Retirement benefits. |
Chapter 4 |
Income Tax, Corporation Tax and Capital Gains Tax |
19. Amendment of section 176 (purchase of unquoted shares by issuing company or its subsidiary) of Principal Act. |
20. Farm taxation. |
21. Amendment of Schedule 13 (accountable persons for purposes of Chapter 1 of Part 18) to Principal Act. |
22. Relevant contracts tax. |
23. Amendment of section 482 (relief for expenditure on significant buildings and gardens) of Principal Act. |
24. Amendment of section 481 (relief for investment in films) of Principal Act. |
25. Amendment of section 486B (relief for investment in renewable energy generation) of Principal Act. |
26. Income tax relief for investment in corporate trades — employment and investment incentive and seed capital scheme. |
27. Amendment of Part 29 (patents, scientific and certain other research, know-how and certain training) of Principal Act. |
28. Life assurance policies and investment funds: rates. |
29. Amendment of Chapter 5 (policyholders — new basis) of Part 26 of Principal Act. |
30. Undertakings for collective investment and unit holders. |
31. Amendment of section 739D (gain arising on a chargeable event) of Principal Act. |
32. Amendment of section 739G (taxation of unit holders in investment undertakings) of Principal Act. |
33. Amalgamations of investment undertakings and offshore funds. |
34. Amendment of section 747E (disposal of an interest in offshore funds) of Principal Act. |
35. Scheme of migration and amalgamation. |
36. Amendment of Part 8 (annual payments, charges and interest) of Principal Act. |
37. Amendment of Part 8A (specified financial transactions) of Principal Act. |
38. Withholding tax relating to certain dividends and interest. |
39. Amendment of section 198 (certain interest not to be chargeable) of Principal Act. |
40. Amendment of section 80A (taxation of certain short-term leases plant and machinery) of Principal Act. |
41. Amendment of section 110 (securitisation) of Principal Act. |
42. Application of section 130 of Principal Act to certain non-yearly interest. |
43. Income tax on payments by non-resident companies. |
44. Emissions allowances. |
Chapter 5 |
Corporation Tax |
45. Amendment of section 486C (relief from tax for certain start-up companies) of Principal Act. |
46. Amendment of Schedule 4 (exemption of specified non-commercial state-sponsored bodies from certain tax provisions) to Principal Act. |
47. Amendment of section 411 (surrender of relief between members of groups and consortia) of Principal Act. |
48. Amendment of section 835D (principles for constructing rules in accordance with OECD guidelines) of Principal Act. |
49. Amendment of Schedule 24 (relief from income tax and corporation tax by means of credit in respect of foreign tax) to Principal Act. |
50. Amendment of section 77 (miscellaneous special rules for computation of income) of Principal Act. |
51. Mergers where a company is dissolved without going into liquidation. |
52. Unilateral relief (leasing income). |
53. Amendment of section 21B (tax treatment of certain dividends) of Principal Act. |
54. Consequential amendments to Principal Act on expiration of scheme of relief for certain manufacturing companies. |
Chapter 6 |
Capital Gains Tax |
55. Capital gains: rate of charge. |
56. Amendment of section 533 (location of assets) of Principal Act. |
57. Amendment of section 562 (contingent liabilities) of Principal Act. |
58. Certain share transactions with investment undertakings. |
59. Amendment of section 598 (disposals of business or farm on “retirement”) of Principal Act. |
60. Amendment of section 599 (disposals within family of business or farm) of Principal Act. |
61. Amendment of section 611 (disposals to State, public bodies and charities) of Principal Act. |
62. Amendment of section 613 (miscellaneous exemptions for certain kinds of property) of Principal Act. |
63. Amendment of Schedule 15 (list of bodies for purposes of section 610) to Principal Act. |
64. Relief for certain disposals of land or buildings. |
65. Exclusion of foreign currency as asset of certain companies. |
66. Amendment of section 579 (non-resident trusts) of Principal Act. |
67. Exemption for proceeds of disposal by sports bodies. |
PART 2 |
Excise |
68. Mineral oil tax: carbon charge. |
69. Rates of tobacco products tax. |
70. Amendment of Chapter 1 (interpretation, liability and payment) of Part 2 of Finance Act 2001. |
71. Amendment of Chapter 2A (intra- European Union movement under a suspension arrangement) of Part 2 of Finance Act 2001. |
72. Amendment of Chapter 3 (offences, penalties and proceedings) of Part 2 of Finance Act 2001. |
73. Amendment of Chapter 4 (powers of officers) of Part 2 of Finance Act 2001. |
74. Amendment of Chapter 5 (miscellaneous) of Part 2 of Finance Act 2001. |
75. Amendment of Chapter 1 (alcohol products tax) of Part 2 of Finance Act 2003. |
76. Amendment of Chapter 3 (tobacco products tax) of Part 2 of Finance Act 2005. |
77. Amendment of Chapter 1 (consolidation and modernisation of betting law) of Part 2 of Finance Act 2002. |
78. Amendment of Chapter 1 (mineral oil tax) of Part 2 of Finance Act 1999. |
79. Amendment of section 65 (cesser of application of mineral oil tax to coal) of Finance Act 2010. |
80. Amendment of Chapter 1 (electricity tax) of Part 2 of Finance Act 2008. |
81. Amendment of Chapter 2 (natural gas carbon tax) of Part 3 of Finance Act 2010. |
82. Amendment of Chapter 3 (solid fuel carbon tax) of Part 3 of Finance Act 2010. |
83. Vehicle registration tax. |
PART 3 |
Value-Added Tax |
84. Interpretation (Part 3). |
85. Ministerial orders. |
86. Supplies of construction services between connected persons — reverse charge. |
87. Amendment of section 46 (rates of tax) of Principal Act. |
88. Amendment of section 66 (issue of invoices and other documents) of Principal Act. |
89. Amendment of section 84 (duty to keep records) of Principal Act. |
90. Amendment of section 95 (transitional measures for supplies of immovable goods) of Principal Act. |
91. Amendment of section 111 (assessment of tax due) of Principal Act. |
92. Interest payable in certain circumstances. |
93. Amendment of section 115 (penalties generally) of Principal Act. |
94. Amendment of Schedule 2 (zero-rated goods and services) to Principal Act. |
95. Amendment of Schedule 3 (goods and services chargeable at the reduced rate) to Principal Act. |
PART 4 |
Stamp Duties |
96. Interpretation (Part 4). |
97. Reduction of duty chargeable on non-residential property. |
98. Relief for clearing houses. |
99. Merger of companies. |
100. Amendment of provisions relating to the international financial services industry. |
101. Carbon offsets. |
102. Amendment of section 101 (intellectual property) of Principal Act. |
103. Grangegorman Development Agency. |
104. Amendment of section 123B (cash, combined and debit cards) of Principal Act. |
105. Levies on certain institutions. |
106. Amendment of Schedule 2B (qualifications for applying for relief from stamp duty in respect of transfers to young trained farmers) to Principal Act. |
107. Modernisation of stamping of instruments: introduction of self assessment and consequential changes, etc. |
PART 5 |
Capital Acquisitions Tax |
108. Interpretation (Part 5). |
109. Amendment of Schedule 2 (computation of tax) to Principal Act. |
110. Amendment of section 2 (interpretation) of Principal Act. |
111. Amendment of provisions relating to discretionary trusts. |
112. Amendment of section 36 (dispositions involving powers of appointment) of Principal Act. |
113. Amendment of provisions relating to heritage property. |
114. Amendment of section 89 (provisions relating to agricultural property) of Principal Act. |
115. Modernisation of capital acquisitions tax administration: miscellaneous amendments. |
116. Amendment of provision relating to payment of tax and filing return and consequential amendments. |
PART 6 |
Miscellaneous |
117. Interpretation (Part 6). |
118. Amendment of section 886 (obligation to keep certain records) of Principal Act. |
119. Amendment of section 912A (information for tax authorities in other countries) of Principal Act. |
120. Amendment of section 851A (confidentiality of taxpayer information) of Principal Act. |
121.... |
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