Finance Act, 1993
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Amendment of section 39 (meaning of “goods”) of Finance Act, 1980. |
44.—(1) Section 39 (as amended by section 47 ) of the Finance Act, 1980 , is hereby amended— | |
(a) in subsection (3), by the insertion, after paragraph (a), of the following proviso: | ||
“Provided that the rendering to the intervention agency of services consisting of the subjecting of meat belonging to the agency to a process of manufacture that is carried out in an establishment specified in subsection (1CC6) (a) shall not be regarded as a sale of goods to the agency.”, | ||
(b) in subsection (1CC9) (inserted by section 47 of the Finance Act, 1992 )— | ||
(i) in paragraph (a)— | ||
(I) by the substitution of the following definitions for the definitions of “qualifying company” and “qualifying trade”: | ||
“‘qualifying company’ means a company to which a certificate under paragraph (b) relates;”, | ||
“‘qualifying trade’ means a trade carried on by a company which consists wholly or mainly of the manufacture of milk products;”, and | ||
(II) by the insertion of the following subparagraph after the definition of “relevant product”: | ||
“For the purposes of this subsection, other than this subparagraph, where a trade consists partly of the manufacture of milk products, then, unless the trade consists mainly of the application of a process of pasteurisation to milk, the part of the trade which consists of the manufacture of milk products shall be treated as a separate trade.”, | ||
and | ||
(ii) by the substitution for paragraph (b) of the following paragraph: | ||
“(b) (i) Where the Minister for Agriculture, Food and Forestry is satisfied that a company— | ||
(I) carried on a qualifying trade during the whole of the period of 3 years ending immediately before the day from which the certificate specified subsequently in this paragraph has effect, | ||
(II) is carrying on a qualifying trade and intends to continue to carry it on for a period which when added to the period for which it has been carrying it on will amount to not less than 3 years, or | ||
(III) intends to carry on a qualifying trade for a period of not less than 3 years, | ||
he may, after consultation with the Minister for Finance, give a certificate to the company stating that the company may, for the purposes of this subsection, be treated as a qualifying company, and, whenever such a certificate is given to a company, it shall be so treated during the period for which the certificate has effect. | ||
(ii) A certificate under this subsection— | ||
(I) shall have effect for the period beginning on such day, whether before or after the day on which it is given, as may be specified therein and ending on the day which is 2 years after that day, and | ||
(II) may be revoked by the Minister for Agriculture, Food and Forestry, after consultation with the Minister for Finance. | ||
(iii) Notice of a revocation under subparagraph (ii) shall be published as soon as may be in Iris Oifigiúil and the revocation shall have effect as on and from the thirtieth day after the day on which it is so published.”, | ||
and | ||
(c) by the insertion after subsection (1CC10) of the following subsection: | ||
“(1CC11) (a) In this subsection ‘newspaper’ means a newspaper— | ||
(i) the contents of each issue of which consist wholly or mainly, as regards the quantity of printed matter contained therein, of information on the principal current events and topics of general public interest, | ||
(ii) the format of which is commonly regarded as newspaper format, and | ||
(iii) which is— | ||
(I) printed on newsprint, | ||
(II) intended to be sold to the public, and | ||
(III) normally published at least fortnightly. | ||
(b) The following provisions shall apply for the purposes of relief under this Chapter in relation to a company that carries on a trade which consists of or includes the production in the State of a newspaper: | ||
(i) the production of the newspaper (including the rendering of advertising services in the course of the production of the newspaper) by the company shall be regarded as the manufacture within the State of goods, | ||
(ii) any amount receivable— | ||
(I) from the sale of copies of the newspaper, or | ||
(II) from the rendering by the company of advertising services in the course of the production of the newspaper, | ||
shall be regarded as an amount receivable from the sale of goods, | ||
and | ||
(iii) subsection (1D) shall have effect as respects the company in relation to a claim by it for relief from tax by virtue of this subsection as it has effect as respects a company in relation to a claim by it for relief from tax by virtue of subsection (1B) or (1C).”, | ||
and | ||
(d) in subsection (6), by the substitution for “For the purposes” of “Subject to subsection (1CC11), for the purposes”. | ||
(2) This section shall have and be deemed to have had effect in relation to a company— | ||
(a) as respects paragraph (a) of subsection (1), for any relevant accounting period (within the meaning of section 38 of the Finance Act, 1980 ) of the company, and | ||
(b) as respects paragraphs (b), (c) and (d) of subsection (1), for accounting periods of the company ending on or after the 1st day of April, 1992. |