Energy (Windfall Gains in the Energy Sector) (Temporary Solidarity Contribution) Act 2023

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Number 23 of 2023

ENERGY (WINDFALL GAINS IN THE ENERGY SECTOR) (TEMPORARY SOLIDARITY CONTRIBUTION) ACT 2023

CONTENTS

PART 1

Preliminary and General

Section

1. Short title and commencement

2. Interpretation

3. Expenses

PART 2

Provisions relating to temporary solidarity contribution

4. Temporary solidarity contribution

5. Anti-avoidance

6. Care and management of temporary solidarity contribution

7. Notice to Revenue Commissioners

8. Returns

9. Action by person acting under authority

10. Assessments and enquiries

11. Revenue assessment

12. Notice of Revenue assessment

13. Amended assessment

14. Application of expression of doubt

15. Appeal to Appeal Commissioners

16. Obligation to keep certain records

PART 3

Enforcement

17. Surcharge for late return

18. Interest on overdue amounts

19. Penalties for failure to deliver a return etc.

20. Penalty for failure to keep records

21. Other penalties

22. Offences

PART 4

Amendment of other acts

23. Insertion of new Part 24B in Act of 1997

24. Consequential amendments to Act of 1997

25. Amendment of Ministers and Secretaries (Amendment) Act 2011

26. Amendment of Finance (Tax Appeals) Act 2015

SCHEDULE

Consequential amendments to Act of 1997

Acts Referred to

Finance (Local Property Tax) Act 2012 (No. 52)

Finance (Tax Appeals) Act 2015 (No. 59)

Maritime Jurisdiction Act 2021 (No. 28)

Ministers and Secretaries (Amendment) Act 2011 (No. 10)

Taxes Consolidation Act 1997 (No. 39)

Value-Added Tax Consolidation Act 2010 (No. 31)

Number 23 of 2023

ENERGY (WINDFALL GAINS IN THE ENERGY SECTOR) (TEMPORARY SOLIDARITY CONTRIBUTION) ACT 2023

An Act to give full effect to Articles 14, 15, 16 and 18 of Council Regulation (EU) 2022/1854 of 6 October 2022 ¹ on an emergency intervention to address high energy prices and for that purpose to make provision for a temporary solidarity contribution to be payable by companies with activities in the fossil fuel sector on taxable profits in the years 2022 and 2023; to provide for obligations on those companies relating to the temporary solidarity contribution; to provide for the administration and collection of the temporary solidarity contribution by the Revenue Commissioners; to provide for enforcement of the temporary solidarity contribution; to amend the Taxes Consolidation Act 1997 to provide for the calculation of the temporary solidarity contribution, the deduction of that contribution for the purposes of corporation tax and certain other consequential amendments; to amend the Ministers and Secretaries (Amendment) Act 2011 and the Finance (Tax Appeals) Act 2015 ; and to provide for related matters.

[17th July, 2023]

Be it enacted by the Oireachtas as follows:

¹ OJ L 261, 7.10.2022, p.1