Taxes consolidation act, 1997

• Enactment Date: 30 November 1997
• Act Number: 39

Number 39 of 1997

TAXES CONSOLIDATION ACT, 1997

ARRANGEMENT OF PARTS, CHAPTERS AND SCHEDULES

INTERPRETATION AND BASIC CHARGING PROVISIONS

PART 1

Interpretation

PART 2

The Charge to tax

CHAPTER 1 Income tax CHAPTER 2 Corporation tax CHAPTER 3 Capital gains tax

INCOME TAX AND CORPORATION TAX: THE MAIN PROVISIONS

PART 3

Provisions Relating to the Schedule C Charge and Government and Other Public Securities

CHAPTER 1 Principal provisions relating to the Schedule C charge CHAPTER 2 Government and other public securities: interest payable without deduction of tax CHAPTER 3 Government and other public securities: exemptions from tax CHAPTER 4 Miscellaneous provisions

PART 4

Principal Provisions Relating to the Schedule D Charge

CHAPTER 1 Supplementary charging provisions CHAPTER 2 Foreign dividends CHAPTER 3 Income tax: basis of assessment under Cases I and II CHAPTER 4 Income tax: basis of assessment under Cases III, IV and CHAPTER 5 Computational provisions: corporation tax CHAPTER 6 Computational provisions: general CHAPTER 7 Special measures on discontinuance of, and change of sis of computation of profits or gains of, a trade or profession CHAPTER 8 Taxation of rents and certain other payments CHAPTER 9 Miscellaneous provisions

PART 5

Principal Provisions Relating to the Schedule E Charge

CHAPTER 1 Basis of assessment, persons chargeable and extent of charge CHAPTER 2 Computational provisions CHAPTER 3 Expenses allowances and provisions relating to the general benefits in kind charge CHAPTER 4 Other benefit in kind charges CHAPTER 5 Miscellaneous charging provisions

PART 6

Company Distributions, Tax Credits, Franked Investment Income and Advance Corporation Tax

CHAPTER 1 Taxation of company distributions CHAPTER 2 Meaning of distribution CHAPTER 3 Distributions and tax credits— general CHAPTER 4 Distributions out of certain exempt profits or gains or out of certain relieved income CHAPTER 5 Distributions out of certain income of manufacturing companies CHAPTER 6 Distributions— supplemental CHAPTER 7 Franked investment income CHAPTER 8 Advance corporation tax CHAPTER 9 Taxation of acquisition by a company of its own shares

PART 7

Income Tax and Corporation Tax Exemptions

CHAPTER 1 Income tax CHAPTER 2 Corporation tax CHAPTER 3 Income tax and corporation tax

PART 8

Annual Payments, Charges and Interest

CHAPTER 1 Annual payments CHAPTER 2 Charges on income for corporation tax purposes CHAPTER 3 Principal provisions relating to the payment of interest CHAPTER 4 Interest payments by certain deposit takers

PART 9

Principal Provisions Relating to Relief for Capital Expenditure

CHAPTER 1 Industrial buildings or structures: industrial building allowances, writing-down allowances, balancing allowances and balancing charges CHAPTER 2 Machinery or plant: initial allowances, wear and tear allowances, balancing allowances and balancing charges CHAPTER 3 Dredging: initial allowances and annual allowances CHAPTER 4 Miscellaneous and general

PART 10

Income Tax and Corporation Tax: Reliefs for Renewal and Improvement of Certain Urban Areas, Certain Resort Areas and Certain Islands

CHAPTER 1 Custom House Docks Area CHAPTER 2 Temple Bar Area CHAPTER 3 Designated areas, designated streets, enterprise areas and multi-storey car parks in certain urban areas CHAPTER 4 Qualifying resort areas CHAPTER 5 Designated islands CHAPTER 6 Dublin Docklands Area

PART 11

Capital Allowances and Expenses for Certain Road Vehicles

PART 12

Principal Provisions Relating to Loss Relief, Treatment of Certain Losses and Capital Allowances, and Group Relief

CHAPTER 1 Income tax: loss relief CHAPTER 2 Income tax: loss relief— treatment of capital allowances CHAPTER 3 Corporation tax: loss relief CHAPTER 4 Income tax and corporation tax: treatment of certain losses and certain capital allowances CHAPTER 5 Group relief

PART 13

Close Companies

CHAPTER 1 Interpretation and general CHAPTER 2 Additional matters to be treated as distributions, charges to tax in respect of certain loans and surcharges on certain undistributed income

PART 14

Taxation of Companies Engaged in Manufacturing Trades, Certain Trading Operations Carried on in Shannon Airport and Certain Trading Operations Carried on in the Custom House Docks Area

CHAPTER 1 Interpretation and general CHAPTER 2 Principal provisions

PART 15

Personal Allowances and Reliefs and Certain Other Income Tax and Corporation Tax Reliefs

CHAPTER 1 Personal allowances and reliefs CHAPTER 2 Income tax and corporation tax: reliefs applicable to both CHAPTER 3 Corporation tax reliefs

PART 16

Income Tax Relief for Investment in Corporate Trades— Business Expansion Scheme and Seed Capital Scheme

PART 17

Profit Sharing Schemes and Employee Share Ownership Trusts

CHAPTER 1 Profit sharing schemes CHAPTER 2 Employee share ownership trusts

PART 18

Payments in Respect of Professional Services By Certain Persons and Payments to Subcontractors in Certain Industries

CHAPTER 1 Payments in respect of professional services by certain persons CHAPTER 2 Payments to subcontractors in certain industries

TAXATION OF CHARGEABLE GAINS

PART 19

Principal Provisions Relating to Taxation of Chargeable Gains

CHAPTER 1 Assets and acquisitions and disposals of assets CHAPTER 2 Computation of chargeable gains and allowable losses CHAPTER 3 Assets held in a fiduciary or representative capacity inheritances and settlements CHAPTER 4 Shares and securities CHAPTER 5 Life assurance and deferred annuities CHAPTER 6 Transfer of business assets CHAPTER 7 Other reliefs and exemptions

PART 20

Companies' Chargeable Gains

CHAPTER 1 General CHAPTER 2 Provisions where companies cease to be resident in the State

PART 21

Mergers, Divisions, Transfers Of Assets and Exchanges Of Shares Concerning Companies Of Different Member States

TRANSACTIONS IN LAND

PART 22

Provisions Relating to Dealing in or Developing Land and Disposals of Development Land

CHAPTER 1 Income tax and corporation tax: profits or gains from dealing in or developing land CHAPTER 2 Capital gains tax: disposals of development land

OTHER SPECIAL PROVISIONS

PART 23

Farming and Market Gardening

CHAPTER 1 Interpretation and general CHAPTER 2 Farming: relief for increase in stock values

PART 24

Taxation of Profits of Certain Mines and Petroleum Taxation

CHAPTER 1 Taxation of profits of certain mines CHAPTER 2 Petroleum taxation

PART 25

Industrial and Provident Societies, Building Societies, and Trustee Savings Banks

CHAPTER 1 Industrial and provident societies CHAPTER 2 Building societies CHAPTER 3 Trustee savings banks

PART 26

Life Assurance Companies

CHAPTER 1 General provisions CHAPTER 2 Special investment policies CHAPTER 3 Provisions applying to overseas life assurance companies

PART 27

Unit Trusts and Offshore Funds

CHAPTER 1 Unit trusts CHAPTER 2 Offshore funds

PART 28

Purchase and Sale of Securities

CHAPTER 1 Purchase and sale of securities CHAPTER 2 Purchases of shares by financial concerns and persons exempted from tax, and restriction on relief for losses by repayment of tax in case of dividends paid out of accumulated profits

PART 29

Patents, Scientific and Certain Other Research, Know-How and Certain Training

CHAPTER 1 Patents CHAPTER 2 Scientific and certain other research CHAPTER 3 Know-how and certain training

PART 30

Occupational Pension Schemes, Retirement Annuities, Purchased Life Annuities and Certain Pensions

CHAPTER 1 Occupational pension schemes CHAPTER 2 Retirement annuities CHAPTER 3 Purchased life annuities CHAPTER 4 Miscellaneous

PART 31

Taxation of Settlors, Etc., In Respect of Settled or Transferred Income

CHAPTER 1 Revocable dispositions for short periods and certain dispositions in favour of children CHAPTER 2 Settlements on children generally

PART 32

Estates of Deceased Persons in Course of Administration and Surcharge on Certain Income of Trustees

CHAPTER 1 Estates of deceased persons in course of administration CHAPTER 2 Surcharge on certain income of trustees

PART 33

Anti-Avoidance

CHAPTER 1 Transfer of assets abroad CHAPTER 2 Miscellaneous

PART 34

Provisions Relating to the Residence of Individuals

PART 35

Double Taxation Relief

CHAPTER 1 Principal reliefs CHAPTER 2 Miscellaneous

PART 36

Miscellaneous Special Provisions

MANAGEMENT PROVISIONS

PART 37

Administration

PART 38

Returns of Income and Gains, Other Obligations and Returns, and Revenue Powers

CHAPTER 1 Income tax: returns of income CHAPTER 2 Corporation tax: returns of profits CHAPTER 3 Other obligations and returns CHAPTER 4 Revenue powers CHAPTER 5 Capital gains tax: returns, information, etc.

PART 39

Assessments

CHAPTER 1 Income tax and corporation tax CHAPTER 2 Provision against double assessment and relief for error or mistake CHAPTER 3 Capital gains tax

PART 40

Appeals

CHAPTER 1 Appeals against income tax and corporation tax assessments CHAPTER...