No. 6/1967:

INCOME TAX ACT, 1967.

ARRANGEMENT OF SECTIONS

PART I INTERPRETATION AND PRELIMINARY

CHAPTER I Interpretation

1 Interpretation generally.

2 Earned income.

3 "Income Tax Acts".

CHAPTER II Preliminary

4 Charge; Schedules.

5 Yearly assessments.

6 Fractions of twenty shillings.

7 Enactments in force for any year to apply to tax for succeeding year.

8 Charge and deduction of tax not charged or deducted before passing of annual Act.

PART II SCHEDULES A AND B

CHAPTER I Schedule A

9 Schedule A.

10 Annual value for Schedule A.

11 Owner-occupied private residence.

12 Newly-built houses.

13 Assessment by reference to annual rent.

14 Persons chargeable.

15 Separate assessments under Schedule A or Schedule B in certain cases.

16 Diplomatic representatives.

17 Mortgagees in possession.

18 Right of persons by whom tax is paid to recoupment in certain case.

19 Occupier.

20 Allowances in case of ecclesiastical or collegiate body.

21 Allowance for drainage and other rates and expenditure on sea walls.

22 Procedure and time-limits for claims under preceding provisions.

23 Repairs allowance.

24 Allowance for maintenance, repairs, insurance and management.

25 Maintenance relief for small properties.

26 Loss by flood or tempest.

27 Universities, colleges, hospitals, schools and almshouses.

28 Allowance for rates paid by landlord.

29 Repayment of tax in respect of lost rent.

CHAPTER II Schedule B

30 Schedule B.

31 Annual value for Schedule B.

32 Persons chargeable.

33 Assessment of certain profits derived from the keeping of a stallion.

34 Husbandry: election to be charged under Schedule D.

35 Husbandry: profits falling short of assessable value.

36 Woodlands.

37 Assessment of profits from occupation of land under Schedule D in certain other cases.

38 Relief under Schedule B in case of loss by flood or tempest.

CHAPTER III General

39 Revenue Commissioners to be furnished with copies of rates.

40 Production of valuations to inspector.

41 Power of Revenue Commissioners to direct revaluation.

42 Unoccupied property.

43 Savings with respect to actions of ejectment.

44 Relief to persons prevented from using their land.

45 Relief to farming co-operative societies and farming trustees.

46 Definition of "the municipal rate".

PART III SCHEDULE C AND PRINCIPAL PROVISIONS RELATING THERETO

47 Schedule C.

48 Charge and payment.

49 Stocks of State and of foreign diplomats.

50 Securities of foreign territories.

51 Definitions.

PART IV SCHEDULE D

CHAPTER I Charge to Tax and General

52 Schedule D .

53 The Cases.

54 Market gardening.

55 Interest, etc., paid without deduction of tax under Schedule C.

56 Tax on quarries, mines and other concerns.

CHAPTER II Cases I and II

57 Extent of charge.

58 Basis of assessment.

59 Changes of proprietorship.

60 Period of computation of profits.

61 General Rule as to deductions.

62 Trading stock of discontinued trade.

63 Deductions in relation to the establishment or alteration of superannuation schemes.

64 Deduction for corporation profits tax.

65 Exclusion of annual value of property.

66 Power to omit Schedule A assessments in certain cases.

67 Allowance for industrial premises.

68 Statement of profits.

CHAPTER III Trades and Professions Carried on in Partnership

69 Interpretation.

70 Power to require return as to sources of partnership income and amounts derived therefrom.

71 Separate assessment of partners.

72 Capital allowances and balancing charges in partnership cases.

73 Modification of provisions as to appeals.

74 Provision as to charges under section 288.

CHAPTER IV Case III

75 Income chargeable under case III.

76 Foreign securities and possessions.

77 Basis of assessment.

78 Cattle and milk dealers.

CHAPTER V Case IV-General

79 Basis of assessment.

CHAPTER VI Taxation of Rents and Certain Other Payments

80 Interpretation.

81 Taxation of rents under short leases.

82 Additional deductions in certain cases.

83 Treatment of premiums etc., as rent.

84 Charge on assignment of lease granted at undervalue.

85 Charge on sale of land with right to reconveyance.

86 Exclusion of certain lettings.

87 Taxation of certain payments in respect of easements.

88 Provisions as to assessment.

89 Relief in respect of losses.

90 Relief for amount not received.

91 Deduction by reference to premium, etc., paid in the computation of profits for purposes of Schedule D, Cases I & II.

92 Deductions by reference to premiums, etc., paid in computation of profits for purposes of this Chapter.

93 Taxation of rents under long lease and certain other payments.

94 Returns, etc.

95 Restriction of section 24.

CHAPTER VII Profits or Gains from Dealing in or Developing Land

96 Interpretation.

97 Extension of Schedule D charge to certain profits from dealing in or developing land.

98 Computation under Case I of Schedule D of profits or gains from dealing in or developing land.

99 Computation under Case IV of Schedule D of profits or gains from dealing in or developing land.

100 Transfers of interests in land between certain associated persons.

101 Tax to be charged under Case IV of Schedule D in relation to the sale of certain shares.

102 Application of section 101 to sales of shares in holding companies.

103 Provisions supplementary to sections 101 and 102.

CHAPTER VIII Payment of Certain Rents Without Deduction of Tax

104 Payment of certain rents without deduction of tax.

CHAPTER IX Miscellaneous Provisions as to Schedule D

105 Persons chargeable.

106 Interest payable out of rates.

107 Apportionment of profits.

108 Limitation of deductions for certain taxes.

PART V SCHEDULE E AND PRINCIPAL PROVISIONS RELATING THERETO

CHAPTER I Charge to Tax, etc.

109 Schedule E.

110 Persons chargeable and extent of charge.

111 Basis of assessment.

112 Making of deductions.

113 Appeal against amount of deduction.

CHAPTER II Payments on Retirement, etc.

114 Payments on retirement or removal from office or employment.

115 Exemptions and reliefs in respect of tax under section 114.

CHAPTER III Expenses Allowances and Benefits in Kind

116 Expenses allowances.

117 Benefits in kind.

118 Valuation of benefits in kind.

119 Meaning of "director", "employment" and "employment to which this Chapter applies".

120 Addition information in returns under section 178.

121 Application of this Chapter.

122 Interpretation.

123 Unincorporated bodies, partnerships and individuals.

CHAPTER IV Income Tax in Respect of Certain Emoluments

124 Interpretation.

125 Application.

126 Method of collection of tax.

127 Regulations.

128 Penalties.

129 Interest.

130 Payment by means of stamps.

131 Recovery.

132 Priority in bankruptcy.

133 Supplemental provisions.

PART VI DIFFERENTIATION AND GRADUATION OF TAX BY MEANS OF RELIEFS

134 Earned income relief.

135 Allowances from unearned income of persons aged sixty-five or upwards.

136 Relief for small incomes.

137 Deduction allowed in ascertaining taxable income.

138 Personal relief.

139 Person taking charge of children of widower, widow or married man living apart from wife.

140 Relative taking charge of unmarried person's brother or sister.

141 Children.

142 Dependent relatives.

143 Premiums on post-1916 insurances and certain other payments.

144 Exemption where total income does not exceed £240 and marginal relief.

145 Insurance against expenses of illness.

146 General provisions relating to allowances, deductions and reliefs.

147 Basis of assessing income under Schedule A.

148 Partners, joint tenants: separate claims.

149 Method of allowance.

150 Total income where assessment reduced.

151 Relief for premiums on pre-1916 insurances.

152 Life assurance relief-general provisions.

153 Non-residents.

154 Relief for income accumulated under trusts.

PART VII ADMINISTRATION

155 Revenue Commissioners.

156 Special Commissioners.

157 Governor and directors of Bank of Ireland.

158 Assessment of public offices.

159 Declarations to be made by commissioners.

160 Disqualification of commissioners in cases of personal interest.

161 Inspectors of taxes.

162 Collector-General.

163 Declaration on taking office.

164 Administration of oaths.

165 Forms.

166 Exercise of powers, etc., under this Act.

PART VIII RETURNS AND ASSESSMENT, PROVISION AGAINST DOUBLE ASSESSMENT, AND RELIEF IN RESPECT OF ERROR OR MISTAKE

CHAPTER I Returns and Assessment

167 General notice to deliver lists and statements.

168 Particular notice to persons chargeable.

169 Returns by persons chargeable.

170 Persons acting for incapacitated persons and non-residents.

171 Notice to persons coming into district.

172 Power to require return of income.

173 Power to obtain information as to fees, commissions, etc.

174 Power to require production of accounts and books.

175 Power to obtain information as to interest paid or credited without deduction of tax.

176 Delivery of lists by persons in receipt of income of others.

177 Lists of lodgers and inmates.

178 Lists of employees.

179 Service of notice on new residents in district.

180 Making of assessments under Schedules A and B.

181 Making of assessments under Schedules D and E.

182 Granting of allowances and reliefs.

183 Aggregation of assessments.

184 Assessment in absence of return.

185 Functions of assessors.

186 Additional assessments.

187 Particulars of sums to be collected.

188 Loss or destruction of assessments and other documents.

189 Amendment of statutory forms.

CHAPTER II Provision Against Double Assessment and Relief in Respect of Error or Mistake

190 Double assessment.

191 Error or mistake.

PART IX SPECIAL PROVISIONS AS TO MARRIED PERSONS, NON-RESIDENTS, TEMPORARY RESIDENTS, BODIES OF PERSONS, INCAPACITATED PERSONS, ETC

CHAPTER I Special Provisions as to Married Persons

192 General rule as to tax on husbands and wives.

193 Personal reliefs on exercise of option for separate assessments.

194 Collection from wife of tax assessed on husband attributable to her income.

195 Right of husband to disclaim liability for tax on deceased wife's income.

196 Married woman living with husband.

197 Separate assessments to Income tax.

198 Separate assessments to sur-tax.

CHAPTER II Special Provisions as to Non-residents and Temporary Residents

199 Persons temporarily resident outside the State.

200 Non-residents: assessment.

201 Non-residents: profits from agencies, etc.

202 Non-residents: control over residents.

203 Non-residents: charge on percentage of turnover.

204 Non-residents: merchanting profit.

205 Non-residents: restrictions on chargeability.

206 Temporary residents.

CHAPTER III Special Provisions as to Bodies of Persons, Incapacitated Persons, Trustees and Agents, Personal Representatives and Receivers

207 Bodies of persons.

208 Trustees, guardians and committees.

209 Liability of trustees, etc.

210 Liability of parents, guardians and personal representatives.

211 Assessment of personal representatives.

212 Receivers appointed by the court.

213 Protection for trustees, agents and receiver.

PART X SPECIAL PROVISIONS AS TO ASSURANCE COMPANIES AND INVESTMENT BUSINESSES

214 Relief for expenses of management.

215 Foreign assurance companies: investment income.

216 Companies carrying on life assurance business.

217 Liability of assurance companies.

PART XI INDUSTRIAL AND PROVIDENT SOCIETIES

218 Interpretation.

219 Deduction as expenses of certain sums, etc.

220 Disregard of profits or losses attributable to certain transactions.

221 Payment of interest without deduction of tax.

PART XII SPECIAL PROVISIONS AS TO PENSIONS, PENSION SCHEMES, RETIREMENT ANNUITIES AND PURCHASED LIFE ANNUITIES

CHAPTER I Superannuation

222 Exemption of superannuation funds.

223 Contributions towards expenses of superannuation benefits.

224 Contributions and benefits under Social Welfare Acts.

225 Liability of certain pensions, etc., to tax.

CHAPTER II Retirement and Other Benefits for Directors and Employees

226 Interpretation.

227 Charge to tax in respect of provision for retirement or other benefits to directors and employees of bodies corporate.

228 Exemptions from charge under section 227.

229 Approval of retirement benefits schemes.

230 Aggregation and severance of schemes.

231 Certain amounts deemed to be income.

232 Application of section 434 to certain payments.

233 Allowance of contributions as deduction, etc.

234 Delivery of particulars of retirement benefits schemes, etc.

CHAPTER III Retirement Annuities

235 Retirement annuities (relief for premiums).

236 Nature and amount of relief for qualifying premiums.

237 Taxation of assurance companies doing annuity business.

238 Supplementary provisions.

CHAPTER IV Purchased Life Annuities

239 Capital element in certain purchased annuities.

240 Supplementary provisions.

PART XIII WEAR AND TEAR AND OBSOLESCENCE

241 Wear and tear of machinery, plant, etc.

242 Machinery out of use during national emergency.

243 Obsolescence.

PART XIV RELIEF FOR CERTAIN EXPENDITURE ON SCIENTIFIC RESEARCH, ON MINING DEVELOPMENT AND ON THE PURCHASE OF NEW SHIPS

CHAPTER I Allowances for Expenditure on Scientific Research

244 Allowance for scientific research.

CHAPTER II Allowances for Capital Expenditure on Mine Development

245 Allowance for mining development.

CHAPTER III Allowances for Capital Expenditure on the Purchase of New Ships

246 Shipping investment allowances.

247 Provisions relating to wear and tear and obsolescence.

248 Application of section 241 (3).

249 Meaning of "basis period".

250 Withdrawal of shipping investment allowance.

PART XV INITIAL ALLOWANCES FOR CERTAIN CAPITAL EXPENDITURE ON MACHINERY AND PLANT AND ON INDUSTRIAL BUILDINGS AND STRUCTURES

CHAPTER I Machinery and Plant: Initial Allowances

251 Initial allowances.

252 Application of section 241 (2) (3) (5).

253 Application to professions.

CHAPTER II Industrial Buildings and Structures: Industrial Building Allowance

254 Industrial building allowance.

255 Meaning of industrial building or structure.

256 Meaning of "expenditure on construction of building or structure".

257 Expenditure on preparing site.

258 Commencement of sections 255 (1) (b), 255 (2), 256 (b) (c) and 257.

259 Appeals.

CHAPTER III Miscellaneous and General

260 "Capital expenditure" under sections 251 and 254.

261 Date on which expenditure incurred.

262 Meaning of "basis period".

PART XVI ANNUAL ALLOWANCES FOR CERTAIN CAPITAL EXPENDITURE ON INDUSTRIAL BUILDINGS AND STRUCTURES, ON MACHINERY AND PLANT, ON PATENTS AND ON DREDGING

CHAPTER I Industrial Buildings and Structures: Annual Allowances and Balancing Allowances and Charges

263 Interpretation.

264 Annual allowances.

265 Balancing allowances and balancing chargers.

266 Writing off of expenditure and meaning of "residue of expenditure".

267 Manner of making allowances and charges.

268 Meaning of "the relevant interest".

269 Special provisions in regard to leases.

270 Temporary disuse of building or structure.

CHAPTER II Machinery and Plant: Balancing Allowances and Charges

271 Interpretation.

272 Balancing allowances and balancing charges.

273 Option in case of replacement.

274 Meaning of "amount still unallowed".

275 Application to partnerships.

276 Machinery or plant used partly for non-trading purposes.

277 Calculation of balancing allowances and balancing charges in certain cases.

278 Option in case of succession under will or intestacy.

279 Wear and tear allowance deemed to have been made in certain cases.

280 Subsidies towards wear and tear.

281 Application to lessors.

282 Manner of making allowances and charges.

283 Application to professions and employments.

CHAPTER III Patents: Annual Allowances and Balancing Allowances and Charges

284 Interpretation.

285 Annual allowances for capital expenditure on purchase of patent rights.

286 Effect of lapse of patent rights, sales, etc.

287 Special provisions for certain capital expenditure.

288 Charges on capital sums received for sale of patent rights.

289 Patent rights sold before operative date.

290 Relief for expenses.

291 Spreading of revenue payments over several years.

292 Manner of making allowances and charges.

293 Effect of death, winding up and partnership changes.

CHAPTER IV Dredging: Initial and Annual Allowances

294 Allowances for expenditure on dredging.

CHAPTER V Miscellaneous and General

295 Manner of granting allowances and charging tax in certain cases.

296 Manner of granting, and effect of, allowances made by way of discharge or repayment of tax.

297 Meaning of "basis period".

298 Apportionment of consideration and exchanges and surrenders of leasehold interests.

299 Special provisions as to certain sales.

300 Effect, in certain cases, of succession to trade, etc.

301 Procedure on apportionment, etc.

302 Property used for purposes of "exempted trading operations".

303 Interpretation of certain references to expenditure, etc.

304 Other provisions as to interpretation.

PART XVII RELIEF FOR EXPENDITURE ON TRAINING OF LOCAL STAFF BEFORE COMMENCEMENT OF TRADING

305 Training of local staff before commencement of trading.

PART XVIII ALLOWANCE FOR EXPENDITURE ON PRODUCTION OF CERTAIN COMMODITIES

306 Expenditure on production of certain commodities.

PART XIX LOSSES

CHAPTER I Relief for Losses

307 Right to repayment of tax by reference to losses.

308 Persons carrying on two or more trades.

309 Right to carry forward losses to future years.

310 Relief under Case IV for losses.

311 Terminal loss.

312 Determination of terminal loss.

313 Amount of profits or gains.

314 Meaning of "permanently discontinued" and "capital allowances".

315 Determination claims for terminal loss.

316 Amount of assessment under section 434 to be allowed as a loss for certain purposes.

CHAPTER II Treatment of Capital Allowances

317 Interpretation.

318 Option to treat as creating or augmenting loss.

319 Extent to which allowances to be taken into account.

320 Effect of giving relief.

321 Grant of relief before passing of annual Act.

322 Application to professions, etc.

CHAPTER III Payments by Companies to Associated Companies in Respect of Losses

323 Interpretation.

324 Treatment of deficiency payments as trading receipts and trading expenses.

325 Meaning of "deficiency".

326 Adjustment of assessments in certain cases.

327 Method of giving effect to this Chapter.

328 Restriction of relief for losses of auxiliary companies.

PART XX RELIEF TO INVESTIGATORS IN IRISH SECURITIES

CHAPTER I Stocks, Shares, and Securities of Companies other than Manufacturing Companies

329 Relief to investors.

330 Restriction of section 329.

331 Shares, etc., deemed to be issued for public subscription.

CHAPTER II Stocks, Shares, and Securities of Manufacturing Companies

332 Relief to investors.

PART XXI CHARITABLE AND OTHER EXEMPTIONS

333 Rents of property belonging to hospitals and other charities.

334 Lands owned and occupied, and trades carried on, by charities.

335 Friendly societies.

336 Trade unions.

337 Savings Bank.

338 Relief for income from investments under Social Welfare Act, 1952.

339 Repayment claims.

340 Military and other pensions, gratuities and allowances.

341 Exemption of Commonwealth representatives.

342 Exemption of consular representatives.

343 Exemption of harbour authorities.

344 Exemption of interest on certain deposits.

345 Exemption of interest on certain securities.

346 Exemption of sweepstake profits.

347 Carrying out of voluntary health schemes-deeming not to be trade.

348 Exemption of profits of agricultural societies.

349 Exemption of bodies established for promotion of athletic or amateur games or sports.

350 Exemption of profits from lotteries.

351 Exemption of sewers.

352 Exemption of air raid protection works.

353 Exemption of income from scholarships.

354 Exemption of children's allowances.

PART XXII RELIEF FROM DOUBLE TAXATION

355 Agreements relating to Northern Ireland and Great Britain.

356 Further relief for certain double residents.

357 Allowance of United Kingdom corporation tax as a credit against income tax.

358 Convention with United States of America.

359 Relief in respect of ships documented under laws of United States of America.

360 Agreement with Canada.

361 Agreements for relief from double taxation of income.

362 Relief on profits from business of sea or air transport.

363 Treatment of dividends for double taxation relief in certain cases.

364 Determination of "reduced Irish rate" for section 363.

365 Relief for foreign income tax in certain cases.

366 Extension of relief in certain cases.

PART XXIII PURCHASE AND SALE OF SECURITIES

367 Application of Part XXIII.

368 Dealers in securities.

369 Persons entitled to exemptions.

370 Traders other then dealers in securities.

PART XXIV 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

371 Purchases of shares by financial concerns and persons exempted from tax.

372 Restriction on relief for losses by repayment of tax in case of dividends paid out of accumulated profits.

PART XXV TEMPORARY RELIEF FROM TAXATION

CHAPTER I Profits from Trading Within Shannon Airport

373 Definitions.

374 Exempted trading operations.

375 Disregard of profits or losses in the case of exempted trading operations.

376 Transactions between associated persons.

377 Delivery of statements, etc.

378 Exemption from Chapter IV.

379 Reduction of certain deductions.

380 Dividends.

381 Provision for annual payments and patent royalties.

CHAPTER II Profits of Certain Mines

382 Interpretation.

383 Application of this Chapter.

384 Computation of profits.

385 Computation of net income tax.

386 Relief from tax.

387 Dividends.

388 Repayments.

389 General restriction.

390 Furnishing of information.

391 Application of section 387 to certain dividends.

392 Change of company.

CHAPTER III Profits from Coal-Mining Operations

393 Definitions.

394 General restriction on relief.

395 Relief-existing coal-mining operations.

396 Dividends.

397 Appeals.

CHAPTER IV Profits from Export of certain Goods

398 Definitions generally.

399 Meaning of "goods".

400 Ship building and repair.

401 Goods exported by the Pigs and Bacon Commission and An Bord Bainne.

402 Year of claim.

403 Standard period.

404 Basis of relief from tax.

405 Alternative relief on total exports.

406 Certain manufacturing services.

407 Changes of proprietorship.

408 Discontinuance of trade.

409 Transfer of part of trade.

410 Exclusions, dividends, etc.

411 Adjustments of certain amounts.

412 Transactions between associated persons and company succeeding to trade of another company.

413 Production of documents and records.

414 Appeals.

PART XXVI APPEALS

415 Prohibition on alteration of assessment except on appeal.

416 Appeals against assessment.

417 Provision as to appeals.

418 Power of Special Commissioners to order payment of tax in assessments under appeal.

419 Agreement as to amount of tax not in dispute on an appeal against an assessment.

420 Publication of reports of cases stated.

421 Procedure on appeals.

422 Power to issue precepts.

423 Objection by inspector to schedules.

424 Confirmation and amendment of assessments.

425 Questions as to assessments or schedules.

426 Summoning and examination of witnesses.

427 Determination of liability in cases of default.

428 Statement of case for High Court.

429 Appeal to Circuit Court.

430 Extension of section 428.

431 Communication of decision of Special Commissioners.

432 Making of claims, etc., and appeals and rehearings.

PART XXVII ANNUAL PAYMENTS

433 Yearly interest, etc., payable wholly out of taxed profits.

434 Interest, etc., not payable out of taxed profits.

435 Annual payment payable out of dividend from which income tax is not deductible or is deductible at reduced rate.

436 Payments subject to deduction for local rates.

437 Disputes between tenants, landlords and others.

PART XXVIII SPECIAL PROVISIONS FOR TAXATION OF SETTLORS, ETC., IN RESPECT OF SETTLED OR TRANSFERRED INCOME

CHAPTER I Revocable Dispositions, Dispositions for Short Periods and Certain Dispositions in Favour of Children

438 Income under revocable dispositions.

439 Income under dispositions for short periods.

440 Income of dispositions in favour of infants.

441 Recovery of tax from trustee and payment to trustee of excess tax recoupment.

442 Definitions.

CHAPTER II Settlements on Children Generally

443 Income settled on children.

444 Irrevocable instruments.

445 Meaning of "irrevocable instrument".

446 Recovery of tax from trustee and payment to trustee of excess tax recoupment.

447 Definitions.

448 Transfer of interests in trade to children.

CHAPTER III Transfers of Income Arising from Securities

449 Transfer of right to receive interest.

PART XXIX INCOME TAX IN RELATION TO ADMINISTRATION OF ESTATES

450 Interpretation.

451 Limited interests in residue.

452 Absolute interests in residue.

453 Supplementary provisions as to absolute interests in residue.

454 Special provisions as to certain interests in residue.

455 Adjustments and furnishing of information.

PART XXX IRISH DIVIDENDS, ETC.

CHAPTER I General Provisions as to Dividends

456 Deductions of tax from dividends.

457 Amount of dividend from which deduction is to be made.

CHAPTER II Explanation of Income Tax Deducted to be Annexed to Dividend and Interest Warrants

458 Annexation of statement to warrants.

PART XXXI FOREIGN DIVIDENDS, ETC.

459 Definitions.

460 Dividends entrusted for payment in State.

461 Dividends paid outside State and proceeds of sale of dividend coupons.

462 Exemption of dividends of non-residents.

PART XXXII GOVERNMENT AND OTHER PUBLIC LOANS

463 Exemption of interest on savings certificates.

464 Issue of securities with exemption from tax.

465 Exemption of non-interest-bearing securities.

466 Payment of interest on Government securities without deduction of tax.

467 Securities of Aer Lingus Teo., Aer Rianta Teo. and Aerlínte Éireann Teo.

468 Securities of Agricultural Credit Corporation, Ltd.

469 Convertions under Government Loans (Convertion) Act, 1951.

470 Securities of Irish local authorities issued abroad.

471 Securities of Electricity Supply Board and Córas Iompair Éireann.

472 Stock of local authorities.

473 Securities of Bord na Móna.

474 Exemption of certain securities from tax.

475 Funding bonds issue in respect of interest on certain debts.

PART XXXIII COLLECTION

476 Collection of tax in public offices.

477 Time for payment of tax.

478 Issue of demand notes and receipts.

479 Collection by means of stamps.

480 Distraint.

481 Collection and recovery of tax under Schedules A and B.

482 Priority of tax over other debts.

483 Commitment of defaulter to prison.

484 Duty of employer as to tax payable by employees.

485 Recovery by sheriff or county registrar.

486 Power of Collector and authorised officers to sue.

487 Continuance of pending proceedings.

488 High Court proceedings.

489 Evidence in proceedings for recovery of tax.

490 Form of execution order in High Court or Circuit Court.

491 Recovery of moneys due.

492 Judgement for recovery of tax.

493 Duration of imprisonment for non-payment of tax.

494 Recovery of tax charged on profits not distrainable.

495 Proceedings against a collector or his sureties.

PART XXXIV REPAYMENT

496 Repayment for interest paid to banks, discount houses, etc.

497 Rate of tax at which repayments are to be made.

498 Limit of time for repayment claims.

PART XXXV PENALTIES AND ASSESSMENTS

499 Application of Part XXXV.

500 Penalties for failure to make certain returns, etc.

501 Penalty for fraudulently or negligently making incorrect returns, etc.

502 Provisions supplementary to section 501.

503 Increased penalties in the case of body of persons.

504 Proceedings against executor or administrator.

505 Penalty for assisting in making incorrect return. etc.

506 Evidence of income for purposes of Part XXXV.

507 Failure to act within required time.

508 Recovery of penalties.

509 Definitions.

510 Proceedings for certain penalties.

511 Time limit for recovery of fines and penalties.

512 Mitigation and application of fines and penalties.

513 Power to add penalties to assessments.

514 Saving for criminal proceedings.

515 Fine for obstruction of officers in execution of duties.

516 Penalty for false statement made to obtain allowance.

517 Time for certain summary proceedings.

518 False evidence: punishment as for perjury.

519 Limitation of penalties on officers employed in execution of Act.

520 Refusal to allow deduction of tax.

521 Admissibility of statements and documents in criminal and tax proceedings.

PART XXXVI SUR-TAX, SUR-TAX ON UNDISTRIBUTED INCOME OF CERTAIN COMPANIES AND DEDUCTIONS OF SUR-TAX FROM EMOLUMENTS

CHAPTER I Sur-Tax

522 Charge to sur-tax.

523 Deduction in charging sur-tax.

524 Method of estimating income for sur-tax purposes.

525 Sur-tax to be charged on consideration for certain restrictive covenants, etc.

526 Assessment, collection and recovery of sur-tax.

527 Delivery of particulars.

528 Estimation of certain amounts.

529 Payment of reduced amount of sur-tax pending determination of appeal.

CHAPTER II Sur-Tax on Undistributed Income of Certain Companies

530 Undistributed income of companies.

531 Protection for companies which transmit accounts to the Special Commissioners.

CHAPTER III Deduction of Sur-Tax from Emoluments

532 Deduction of sur-tax from emoluments.

PART XXXVII MISCELLANEOUS

533 Rules as to delivery of statements.

534 Income tax assessment to be conclusive in estimation of total income.

535 Restriction on deductions in computing profits.

536 Execution of warrants and precepts.

537 Effect of warrant of form, error, etc., on assessments, charges, warrants and other proceedings.

538 Exemption of appraisements and valuations from stamp duty.

539 Delivery of books and papers relating to tax.

540 Criminal proceedings against collector.

541 Proof that person is a commissioner or officer.

542 Delivery, service and evidence of notices and forms.

543 Laying of regulations before Oireachtas.

544 Clergymen and ministers of religion: deduction.

545 Assessment of Electricity Supply Board.

546 Charge of tax in relation to source not producing income.

547 Relief for certain gifts.

548 Relief for houses occupied by clergymen and ministers of religion.

549 Unremittable income.

550 Interest on overdue tax.

551 Effect on interest of reliefs given by discharge or repayment.

552 Commencement of sections 550 and 551.

553 Allowance to owner of mineral rights for expenses.

PART XXXVIII COMMENCEMENT, REPEALS, SAVINGS, TEMPORARY AND TRANSITIONAL PROVISIONS AND SHORT TITLE

554 Commencement and repeals.

555 Extent to which Act is to apply to years before 1967-68.

556 Saving for enactments not repealed.

557 Meaning of "Collector" in sections 187, 188, 478, 480 to 482, 484 to 489, 494. 519, 542 and 550 and Schedule 2, Rule 6.

558 Former employees of railway company.

559 Construction of references.

560 Continuance of officers; instruments and documents.

561 Short title.

SCHEDULE 1

SCHEDULE 2

SCHEDULE 3

SCHEDULE 4

SCHEDULE 5

SCHEDULE 6

SCHEDULE 7

SCHEDULE 8

SCHEDULE 9

SCHEDULE 10

SCHEDULE 11

SCHEDULE 12

SCHEDULE 13

SCHEDULE 14

SCHEDULE 15

SCHEDULE 16

SCHEDULE 17

SCHEDULE 18

SCHEDULE 19

AN ACT TO CONSOLIDATE ENACTMENTS RELATING TO INCOME TAX AND SUR-TAX, INCLUDING CERTAIN ENACTMENTS RELATING ALSO TO CORPORATION PROFITS TAX.

[8th March, 1967.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—