Finance Act, 1995

Amendment of section 14 (determination of tax due by reference to cash receipts) of Principal Act.

131.—Section 14 (inserted by the Act of 1978) of the Principal Act is hereby amended by the insertion of the following subsection after subsection (1A) (inserted by the Act of 1992):

“(1B) (a) The Minister may, by order—

(i) increase the amount specified in subsection (1) (b), or

(ii) where an amount stands specified by virtue of an order under this paragraph, including an order relating to this subparagraph, further increase the amount so specified.

(b) An order under paragraph (a) shall be laid before Dáil Éireann as soon as may be after it is made and, if a resolution annulling the order is passed by Dáil Éireann within the next twenty-one sitting days on which Dáil Éireann has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.”.