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PART III
Schedule C and Principal Provisions Relating Thereto
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Schedule C.
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47.—The Schedule referred to in this Act as Schedule C is as follows—
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Schedule C
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1. Tax under this Schedule shall be charged in respect of all profits arising from public revenue dividends payable in the State in any year of assessment.
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2. Where a banker or any other person in the State, by means of coupons received from another person or otherwise on his behalf, obtains payment of any foreign public revenue dividends, tax under this Schedule shall be charged in respect of the dividends.
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3. Where a banker in the State sells or otherwise realises coupons for any foreign public revenue dividends and pays over the proceeds of such realisation to or carries such proceeds to the account of any person, tax under this Schedule shall be charged in respect of the proceeds of the realisation.
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4. Where a dealer in coupons in the State purchases coupons for any foreign public revenue dividends otherwise than from a banker or another dealer in coupons, tax under this Schedule shall be charged in respect of the price paid on the purchase.
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5. Nothing in paragraph 1 shall apply to any annuities which are not of a public nature.
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6. The tax under this Schedule shall be charged for every twenty shillings of the annual amount of the profits, dividends, proceeds of realisation or price paid on purchase charged.
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