Finance Act 2004

Amendment of section 4 (special provisions in relation to the supply of immovable goods) of Principal Act.

57.—Section 4 of the Principal ACt is amended by substituting the following for subsection (6)—

“(6) Notwithstanding anything in this section or in section 2 tax shall not be charged on the supply of immovable goods—

(a) in relation to which a right in favour of the person making the supply to a deduction under section 12 in respect of any tax borne or paid on the supply or development of the goods did not arise and would not, apart from section 3(5)(b)(iii), have arisen, or

(b) which had been occupied before the specified day and had not been developed between that date and the date of the supply,

other than a supply of immovable goods to which the provisions of subsection (5) apply.”.