Finance Act, 1971

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Number 23 of 1971

FINANCE ACT, 1971

ARRANGEMENT OF SECTIONS

PART I

Income Tax

Section
1.	Income tax and sur-tax for the year 1971-72.
2.	Cesser of section 2 of Finance Act, 1970.
3.	Amendment of section 58 of Income Tax Act, 1967.
4.	Charge of tax on sums applied outside the State in repaying certain loans.
5.	Allowance of cost of registration of trade marks as a deduction.
6.	Amendment of section 134 of Income Tax Act, 1967.
7.	Amendment of section 135 of Income Tax Act, 1967.
8.	Amendment of section 136 of Income Tax Act, 1967.
9.	Amendment of section 139 of Income Tax Act, 1967.
10.	Amendment of section 142 of Income Tax Act, 1967.
11.	Relief for blind persons.
12.	Amendment of section 224 of Income Tax Act, 1967.
13.	Amendment of section 251 of Income Tax Act, 1967.
14.	Amendment of section 254 of Income Tax Act, 1967.
15.	Amendment of section 336 of Income Tax Act, 1967.
16.	Amendment of sections 443 and 444 of Income Tax Act, 1967.
17.	Amendment of section 550 of Income Tax Act, 1967.
18.	Amendment of section 419 of Income Tax Act, 1967.
19.	Amendment of sections 428 and 429 of Income Tax Act, 1967.
20.	Interest on income tax and sur-tax in cases of fraud or neglect.
21.	Amendment of section 17 of Finance Act, 1970.
22.	Investment allowance for machinery and plant in designated areas.
23.	“Basis period”.
24.	Provision relating to wear and tear.
25.	Withdrawal of investment allowance.
26.	Increase of wear and tear allowances for certain machinery and plant.

PART II

Customs and Excise

27.	Beer.
28.	Spirits.
29.	Customs control of persons entering the State.

PART III

Death Duties

PART IV

Stamp Duties

43.	Amendment of Stamp Act, 1891.
44.	Exemption from stamp duty on certain bills of exchange.

PART V

Corporation Profits Tax

45.	Continuance of certain exemptions from corporation profits tax.
46.	Amendment of section 69 of Finance Act, 1959.
47.	Amendment of section 14 of Finance Act, 1962.
48.	Amendment of section 31 of Finance Act, 1964.
49.	Payment of tax notwithstanding application for rehearing of appeal by Circuit Court.
50.	Interest on corporation profits tax in cases of fraud or neglect.

PART VI

Miscellaneous

51.	Capital Services Redemption Account.
52.	Excise duties on registration of firearms dealers.
53.	Repeals.
54.	Care and management of taxes and duties.
55.	Short title, construction and commencement.

Acts Referred to
Income Tax Act, 1967	1967, No. 6
Finance Act, 1970	1970, No. 14
Income Tax Act, 1967	1967, No. 17
Finance Act, 1968	1968, No. 33
Income Tax (Construction Contracts) Regulations, 1971	S.I. No. 1 of 1971
Industrial Development Act, 1969	1969, No. 32
Finance Act, 1969	1969, No. 21
Finance Act, 1933	1933, No. 15
Finance Act, 1920	1920, c. 18
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
Customs-free Airport Act, 1947	1947, No. 5
Finance Act, 1894	1894, c. 30
Finance Act, 1961	1961, No. 23
Finance Act, 1896	1896, c. 28
Finance Act, 1912	1912, c. 8
Finance Act, 1931	1931, No. 31
Finance Act, 1965	1965, No. 22
Finance Act, 1941	1941, No. 14
Finance (1909-10) Act, 1910	1910, c. 8
Finance Act, 1938	1938, No. 25
Finance Act, 1935	1935, No. 28
Stamp Act, 1891	1891, c. 39
Finance Act, 1929	1929, No. 32
Finance Act, 1959	1959, No. 18
Finance Act, 1962	1962, No. 15
Finance Act, 1964	1964, No. 15
Income Tax Act, 1967	S.I. No. 130 of 1967
Finance (Miscellaneous Provisions) Act, 1968.	1968, No. 7
Finance Act, 1950	1950, No. 18
Finance Act, 1925	1925, No. 28
Firearms Act, 1925	1925, No. 17

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Number 23 of 1971

FINANCE ACT, 1971

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. [28th July, 1971]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

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