Finance Act, 1963

Rate of tax.

53.—(1) Subject to subsection (2) of this section, the tax shall be two and one-half per cent. of the taxable turnover of the accountable person and the amount of tax chargeable during every month shall be paid after the expiration of the month in accordance with the regulations under this Part of this Act.

(2) In respect of any month—

(a) where the taxable turnover does not exceed £100, the tax shall be 5s.,

(b) Where the taxable turnover exceeds £100, the tax chargeable in respect of the first £100 shall be 5s.

(3) Where it is shown to the satisfaction of the Revenue Commissioners that—

(a) any part of the taxable turnover of an accountable person in any month consisted of moneys paid under a contract entered into before the 1st day of August, 1963, which provides for the sale or hire of goods or the provision of services at prices or charges fixed before that day, or

(b) any part of the taxable turnover of an accountable person in the month of November, 1963, or any of the four months next following that month consisted of moneys received in respect of goods sold or hired or services provided before the 1st day of August, 1963,

the Revenue Commissioners may repay the tax paid on that part or, at their discretion, allow it to be set off against the tax payable in any month.

(4) In this section “taxable turnover” means the total amount of money received by the accountable person on account of the activities in respect of which he is accountable.