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No. 16/1976:
FINANCE ACT, 1976
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ARRANGEMENT OF SECTIONS
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PART I INCOME TAX, SUR-TAX, CORPORATION PROFITS TAX, CORPORATION TAX AND CAPITAL GAINS TAX
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CHAPTER I Income Tax
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1 Amendment of section 128 (penalties) of Income Tax Act, 1967.
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2 Amendment of section 142 (dependent relatives) of Income Tax Act, 1967.
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3 Amendment of section 174 (power to require production of accounts and books) of Income Tax Act, 1967.
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4 Amendment of section 197 (separate assessments to income tax) of Income Tax Act, 1967.
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5 Amendment of section 316 (amount of assessment under section 434 to be allowed as a loss for certain purposes) of Income Tax Act, 1967.
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6 Amendment of section 477 (time for payment of tax) of Income Tax Act, 1967 and section 20 interest on income tax and sur-tax in cases of fraud or neglect) of Finance Act, 1971.
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7 Amendment of section 497 (rate of tax at which repayments are to be made) of Income Tax Act, 1967.
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8 Amendment of section 525 (tax to be charged on consideration for certain restrictive covenants, etc.) of Income Tax Act, 1967.
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9 Amendment of section 1 (increase in certain rates of income tax) of Finance (No. 2) Act, 1975.
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10 Personal reliefs.
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11 Returns by married women.
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12 Relief for unincorporated bodies in respect of increase in stock values.
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13 Surcharge on certain income of trustees.
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14 Priority in bankruptcy and liquidation of certain sums.
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CHAPTER II Income Tax in Respect of Certain Emoluments
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15 Extension of Chapter IV (income tax in respect of certain emoluments) of Part V of Income Tax Act, 1967.
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16 Transitional provisions.
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17 Treatment for tax purposes of certain unpaid remuneration.
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CHAPTER III Taxation of Farming Profits
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18 Amendment of section 21 (notional basis of assessment) of Finance Act, 1974.
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19 Farm land occupied by certain persons.
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CHAPTER IV Payments to Sub-Contractors in the Construction Industry
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20 Payments to sub-contractors before 6th December, 1976.
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21 Payments to sub-contractors on or after 6th December, 1976.
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CHAPTER V Benefits in Kind
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22 Extension of charge to tax under section 52 (Schedule D) of Income Tax Act, 1967.
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23 Benefit in kind: minimum charge to tax in respect of use of vehicle.
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CHAPTER VI Income Tax, Sur-Tax, Corporation Profits Tax, Corporation Tax and Capital Gains Tax
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24 Amendment of sections 31 (income tax on certain dividends) and 37(corporation profits tax on certain dividends) of Finance Act, 1973.
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25 Payments under Employment Premium Act, 1975.
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26 Amendment of section 31 (relief for companies in respect of increase in stock values) of Finance Act, 1975.
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27 Amendment of section 54 (meaning of "goods") of Corporation Tax Act, 1976.
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28 Reduced rate of tax for certain interest.
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29 Interest on unpaid wealth tax and capital acquisitions tax.
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30 Appeals against assessments and payments on account.
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31 Increase in limit of capital allowances for vehicles.
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32 Restriction of deduction in respect of vehicles.
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33 Termination of relief in respect of certain profits of industrial and provident societies.
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34 Inspection of documents and records.
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PART II CUSTOMS AND EXCISE
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35 Definition (Part II).
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36 Beer.
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37 Spirits.
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38 Tobacco.
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39 Wine and made wine.
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40 Hydrocarbon oils.
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41 Gaseous hydrocarbons in liquid form.
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42 Provisions relating to duty on gaseous hydrocarbons in liquid form for motor vehicles.
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43 Amendment of section 21 (duties on hydrocarbon oils) of Finance Act, 1935.
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44 Amendment of section 34 (amendments relative to penalties) of Finance Act, 1963.
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45 Making of customs entry and payment of duties on imported aircraft and ships.
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46 Confirmation of Orders.
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PART III STAMP DUTIES
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47 Extension of time for claiming repayment of certain stamp duties.
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48 Amendment of section 49 (exemption of certain instruments from stamp duty) of Finance Act, 1969.
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PART IV VALUE-ADDED TAX
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49 Commencement.
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50 Definitions (Part IV).
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51 Amendment of section 3 (delivery of goods) of Principal Act.
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52 Amendment of section 10 (amount on which tax is chargeable) of Principal Act.
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53 Amendment of section 11 (rates of tax) of Principal Act.
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54 Amendment of section 12 (deduction for tax borne or paid) of Principal Act.
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55 Amendment of section 15 (charge of tax on imported goods) of Principal Act.
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56 Amendment of section 21 (interest) of Principal Act.
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57 Amendment of section 26 (penalties generally) of Principal Act.
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58 Amendment of section 32 (regulations) of Principal Act.
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59 Amendment of section 34 (relief for stock-in-trade held on the specified day) of Principal Act.
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60 Substitution of new schedules for First, Second, Third and Fourth Schedules (exempted activities and rates of tax) to Principal Act.
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61 Consequential amendments.
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62 Priority in bankruptcy and winding-up.
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63 Transitional provisions in respect of motor vehicles.
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64 Interpretation and commencement (Part V).
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65 Regulations generally (Part V).
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66 Application of Part V.
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67 Certain particulars relating to and transfers of certain vehicles to be furnished to licensing authorities.
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68 Payment and recovery of vehicle excise duty.
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69 Vehicles to which section 70 applies.
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70 Continuous liability for vehicle excise duty payable as regards certain vehicles.
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71 Using and keeping vehicles on which chargeable vehicle excise duty is unpaid.
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72 Additional liability for using vehicle on which vehicle excise duty is unpaid.
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73 Licences to be fixed to and exhibited on vehicles.
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74 Provisions supplementary to section 73.
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75 Onus of proof; defence.
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76 Penalties (Part V).
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77 Amendment of section 12 (regulations) of Act of 1920.
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78 Amendment of section 1 (excise duties in respect of mechanically propelled vehicles on public roads) of Act of 1952.
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79 Rates of vehicle excise duty.
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80 Capital Services Redemption Account.
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81 Repeals.
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82 Care and management of taxes and duties.
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83 Short title, construction and commencement.
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FIRST SCHEDULE
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SECOND SCHEDULE
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THIRD SCHEDULE
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FOURTH SCHEDULE
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FIFTH SCHEDULE
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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.
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[27th May, 1976]
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BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
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