Finance Act 2016

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Amendment of Part 38 of Principal Act (returns of income and gains, other obligations and returns, and Revenue powers)

25. (1) Part 38 of the Principal Act is amended by inserting the following section after section 891G:

“Disclosure of certain information for the purposes of administrative cooperation in the field of taxation

891GA. (1) This section provides for the disclosure by the competent authority of information connected with or supplementing the information required to be exchanged under the Regulations.

(2) In this section—

‘advance cross-border ruling’ has the same meaning as it has in the Directive;

‘advance pricing arrangement’ has the same meaning as it has in the Directive;

‘competent authority’ means the Revenue Commissioners acting as the competent authority for the purposes of the Directive;

‘Directive’ means Council Directive 2011/16/EU of 15 February 2011⁷ on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC, as amended by Council Directive 2014/107/EU of 9 December 2014⁸ and Council Directive (EU) 2015/2376 of 8 December 2015⁹ ;

‘exchange information’ means the information described in Article 8a of the Directive that is required to be communicated by the competent authority under the Regulations;

‘Regulations’ means the European Union (Administrative Cooperation in the Field of Taxation) Regulations 2012;

‘relevant instrument’ means an advance cross-border ruling or an advance pricing arrangement.

(3) The competent authority may, when providing exchange information in respect of a relevant instrument, provide the following information connected with or supplementary to that exchange information:

(a) the reference, if any, assigned by the Revenue Commissioners to the relevant instrument;

(b) where the relevant instrument is related to or connected with any other relevant instrument, information for the purpose of identifying that other relevant instrument;

(c) in respect of a person to whom the relevant instrument relates, that person’s—

(i) main business activity,

(ii) annual turnover, and

(iii) annual profits or losses;

(d) whether an address provided in respect of a person is that person’s—

(i) business address,

(ii) legal address, or

(iii) other form of address;

(e) in respect of an advance pricing arrangement which uses more than one transfer pricing methodology, an explanation as to why more than one methodology was used; and

(f) such other information as may be specified in a standard form adopted by the European Commission for the purpose of complying with its obligations under Article 20(5) of the Directive.

(4) The competent authority may delegate to any of its officers any of the functions to be performed by the competent authority under this section.”.

(2) Subsection (1) comes into operation on such day as the Minister for Finance may appoint by order.

⁷OJ No. L64, 11.3.2011, p.1

⁸OJ No. L359, 16.12.2014, p.1

⁹OJ No. L332, 18.12.2015, p.1