Finance Act, 1995
|
Exemption of the Irish Horseracing Authority, Irish Thoroughbred Marketing Limited and the Tote. |
44.—(1) In this section— | |
“the authority” means the Irish Horseracing Authority; | ||
“the company” means the company incorporated on the 1st day of December, 1994, as Irish Thoroughbred Marketing Limited; | ||
“the Tote” means the company incorporated on the 1st day of December, 1994, as Tote Ireland Limited. | ||
(2) Notwithstanding any provision of the Corporation Tax Acts, profits arising to the authority, the company or the Tote in any accounting period ending on or after the 1st day of December, 1994, shall be exempt from corporation tax. | ||
(3) As regards disposals made on or after the 1st day of December, 1994, section 23 of the Capital Gains Tax Act, 1975 , shall apply to a gain accruing to the authority, the company or the Tote as it does to a body specified in that section. |