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Amendment of section 1041 of Principal Act (rents payable to non-residents)
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25. Section 1041 of the Principal Act is amended—
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(a) in subsection (1), by the substitution of “Subject to subsection (1B)(b), section 1034 shall not apply” for “Section 1034 shall not apply”,
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(b) in subsection (1A)(f), by the substitution of “remitted to the Revenue Commissioners” for “remitted to Revenue”,
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(c) by the substitution of the following subsection for subsection (1B):
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“(1B) (a) Section 1034 shall not apply to—
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(i) tax on profits or gains chargeable to tax under Case V of Schedule D, or
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(ii) tax on any of the profits or gains chargeable under Case IV of Schedule D which arise under the terms of the lease, but to a person other than the lessor, or which otherwise arise out of any disposition or contract such that if they arose to the person making it they would be chargeable under Case V of Schedule D,
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where the trustee, guardian, committee, attorney, factor, agent, receiver, branch or manager of the non-resident person—
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(I) deducts tax in accordance with section 238, and
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(II) provides the Revenue Commissioners with the information specified in subsection (1C).
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(b) Where paragraph (a) applies—
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(i) subsection (1) shall not apply, and
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(ii) section 238 shall apply to the trustee, guardian, committee, attorney, factor, agent, receiver, branch or manager of the non-resident person in relation to a payment due to a non-resident person which is made to the trustee, guardian, committee, attorney, factor, agent, receiver, branch or manager of that non-resident person as it applies to other payments, being annual payments charged with tax under Schedule D and not payable out of profits or gains brought into charge to tax.”,
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and
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(d) in subsection (1C)(f), by the substitution of “remitted to the Revenue Commissioners” for “remitted to Revenue”.
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