Finance Act, 1977

PART III

Stamp Duties

Relief from stamp duty on certain contracts.

47.—(1) In this section “contract” means a contract made before the 1st day of January, 1979, for the construction, alteration or enlargement of a building in respect of which stamp duty has been duly paid under the provisions of section 50 of the Finance Act, 1969 .

(2) In any case where it is shown to the satisfaction of the Revenue Commissioners that the whole of the construction, alteration or enlargement to which a contract relates was carried out between the 26th day of January, 1977, and the 31st day of December, 1978, they shall repay the total amount of the said stamp duty paid on the instrument or instruments containing the contract.

(3) In any case where a part, but not the whole, of the construction, alteration or enlargement to which a contract relates was carried out between the 26th day of January, 1977, and the 31st day of December, 1978, the Revenue Commissioners shall repay the amount of the said stamp duty paid on the instrument or instruments containing the contract arrived at by applying to the total amount of stamp duty so paid the fraction /images/en.act.1977.0018.sec47.1.jpg

where—

A is the part of the construction, alteration or enlargement that is shown to the satisfaction of the Revenue Commissioners to have been carried out between the dates aforesaid, and

B is the whole of the construction, alteration or enlargement to which the contract relates.

(4) A claim for the repayment of duty under this section shall be made in writing to the Revenue Commissioners within 30 days of the completion of the contract or of the 31st day of December, 1978, whichever is the earlier, and the repayment, if any, shall be made on production of the instrument or instruments duly stamped under the said section 50.