Finance Act, 1968

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Number 33 of 1968

FINANCE ACT, 1968

ARRANGEMENT OF SECTIONS

PART I

Income Tax

Section
1.	Income tax and sur-tax for the year 1968–69.
2.	Allowance for know-how.
3.	Relief for certain sums chargeable under Schedule E.
4.	Amount of diminished value of machinery and plant by reason of wear and tear.
5.	Ownership or occupation of lands.
6.	Obligation to keep certain records.
7.	Estimation of tax due for income tax months.
8.	Estimation of tax due for year.
9.	Interest on tax recoverable under section 7 or 8.
10.	Appeals under section 7 or 8.
11.	Priority in bankruptcy, etc., of sums recoverable under section 7 or 8.
12.	Amendment of section 138 of Income Tax Act, 1967.
13.	Amendment of section 175 of Income Tax Act, 1967.
14.	Amendment of section 244 of Income Tax Act, 1967.
15.	Amendment of section 416 of Income Tax Act, 1967.
16.	Amendment of section 421 of Income Tax Act, 1967.
17.	Amendment of section 523 of Income Tax Act, 1967.

PART II

Customs and Excise

18.	Beer.
19.	Spirits.
20.	Hydrocarbon oils.
21.	Tobacco.
22.	Tobacco (excise duty on certain stocks).
23.	Wine.
24.	Irish wine.

PART III

Death Duties

25.	Abatement of estate duty.
26.	Amendment of section 10 of Finance Act, 1894.

PART IV

Corporation Profits Tax

27.	Investment trust companies.
28.	Deductions for directors' remuneration.
29.	Continuance of certain exemptions from corporation profits tax.
30.	Amendment of section 69 of Finance Act, 1959.

PART V

Turnover Tax

31.	Amendment of sections 50 and 58 of Finance Act, 1963.

PART VI

Wholesale Tax

32.	Amendment of section 5 of Finance (No. 2) Act, 1966.

PART VII

Miscellaneous

33.	Capital Services Redemption Account.
34.	Relief on engineering services in relation to works outside State.
35.	Relief to certain companies liable to foreign tax.
36.	Relief in relation to transactions t between associated companies.
37.	Relief for payments in respect of redundancy.
38.	Amendment of section 251 of Income Tax Act, 1967.
39.	Amendment of section 254 of Income Tax Act, 1967.
40.	Repeal of Corporation Duty.
41.	Investment accounts in trustee savings banks.
42.	Provisions in relation to schemes for free television and radio licences.
43.	Restriction of Finance (Excise Duties) (Vehicles) Act, 1952.
44.	Amendment of Part II of Schedule to Finance (Excise Duties) (Vehicles) Act, 1952.
45.	Repeal.
46.	Provisions in relation to imposition of Duties (No. 170) (Excise Duties) (Vehicles) Order, 1968.
47.	Care and management of taxes and duties.
48.	Short title, construction and commencement.

FIRST SCHEDULE

Spirits (Rates of Ordinary Customs Duty)

Part I and Part II

Duties on Tobacco

Rates of Customs Duty on Wine

Part I and Part II

FOURTH SCHEDULE

Rates of Excise Duty on Irish Wine

Part I and Part II

Acts Referred to
Income Tax Act, 1967	1967, No. 6.
Companies Act, 1963	1963, No. 33.
Finance Act, 1967	1967, No. 17.
Finance Act, 1920	1920, c. 18.
Finance Act, 1966	1966, No. 17.
Imposition of Duties (No. 159) (Customs Duties and Form of Customs Tariff) Order, 1966	S.I. No. 132 of 1966.
Finance Act, 1919	1919, c. 32.
Finance Act, 1926	1926, No. 35.
Finance Act, 1935	1935, No. 28.
Finance (Customs Duties) (No. 4) Act, 1931	1931, No. 43.
Finance (Miscellaneous Provisions) Act, 1935	1935, No. 7.
Imposition of Duties (No. 84) (Hydrocarbon Oils) (Customs Duties) Order, 1959	S.I. No. 219 of 1959.
Finance Act, 1957	1957, No. 20.
Finance Act, 1932	1932, No. 20.
Finance Act, 1933	1933, No. 15.
Finance Act, 1940	1940, No. 14.
Finance Act, 1934	1934, No. 31.
Finance Act, 1948	1948, No. 12.
Finance Act, 1949	1949, No. 13.
Finance Act, 1965	1965, No. 22.
Imposition of Duties (No. 164) (Customs Duties and Form of Customs Tariff) Order, 1967	S.I. No. 156 of 1967.
Imposition of Duties (No. 163) (Duty on Wine) Order, 1967	S.I. No. 155 of 1967.
Finance Act, 1941	1941, No. 14.
Finance Act, 1959	1959, No. 18.
Finance (Miscellaneous Provisions) Act, 1956	1956, No. 47.
Customs-free Airport Act, 1947	1947, No. 5.
Finance (Miscellaneous Provisions) Act, 1958	1958, No. 28.
Redundancy Payments Act, 1967	1967, No. 21.
Trustee Savings Banks Act, 1965	1965, No. 11.
Wireless Telegraphy Act, 1926	1926, No. 45.
Broadcasting Authority (Amendment) Act, 1966	1966, No. 7.
Finance (Excise Duties) (Vehicles) Act, 1952	1952, No. 24.
Imposition of Duties (No. 170) (Excise Duties) (Vehicles) Order, 1968	S.I No. 68 of 1968.
Customs and Inland Revenue Act, 1885	1885, c. 51.

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Number 33 of 1968

FINANCE ACT, 1968

AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE), TO AMEND THE LAW RELATING TO CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [29th July, 1968.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

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