|
|
Amendment of Part 41 (self assessment) of Principal Act.
|
45.—(1) Part 41 of the Principal Act is hereby amended—
|
|
| |
(a) in section 950(1), by the substitution, in the definition of “specified return date for the chargeable period”, of the following paragraph for paragraph (a):
|
|
| |
“(a) where the chargeable period is a year of assessment, the 31st day of January in the year of assessment following that year; but as respects—
|
|
| |
(i) such year of assessment (not being earlier than the year 1998–99) as the Minister for Finance shall by order appoint, and
|
|
| |
(ii) each year of assessment following the year to which subparagraph (i) relates,
|
|
| |
the 30th day of November following the year of assessment,”,
|
|
| |
and
|
|
| |
(b) in section 958—
|
|
| |
(i) in subsection (2)—
|
|
| |
(I) by the substitution of the following paragraphs for paragraphs (a) and (b):
|
|
| |
“(a) where the chargeable period is a year of assessment for income tax and subject to subsection (10), on or before the 1st day of November in the year of assessment; but as respects—
|
|
| |
(i) such year of assessment (not being earlier than the year 1999-2000) as the Minister for Finance shall by order appoint, and
|
|
| |
(ii) each year of assessment following the year to which subparagraph (i) relates,
|
|
| |
the 30th day of November in the year of assessment,
|
|
| |
(b) where the chargeable period is a year of assessment for capital gains tax, on or before the 1st day of November following the year of assessment; but as respects—
|
|
| |
(i) such year of assessment (not being earlier than the year 1998-1999) as the Minister for Finance shall by order appoint, and
|
|
| |
(ii) each year of assessment following the year to which subparagraph (i) relates,
|
|
| |
the 30th day of November following the year of assessment, or”,
|
|
| |
and
|
|
| |
(II) by the substitution of “the 1st day of November in the year of assessment, the 30th day of November in the year of assessment, the 1st day of November following the year of assessment, the 30th day of November following the year of assessment” for “the 1st day of November in the year of assessment, the 1st day of November following the year of assessment”,
|
|
| |
(ii) in subsection (3) (b), the substitution of the following subparagraph for subparagraph (ii):
|
|
| |
“(ii) if the chargeable period is a year of assessment for capital gains tax, on or before the specified return date for the chargeable period or, if later, not later than one month from the date on which the assessment is made; but as respects—
|
|
| |
(I) such year of assessment (not being earlier than the year 1998–1999) as the Minister for Finance shall by order appoint, and
|
|
| |
(II) each year of assessment following the year to which clause (I) relates,
|
|
| |
on or before the specified return date for the chargeable period, and”,
|
|
| |
(iii) in subsection (4)(b), by the substitution of the following subparagraph for subparagraph (i):
|
|
| |
“(i) (I) 90 per cent of the tax payable by the chargeable person for the chargeable period, or
|
|
| |
(II) in the case of an assessment to capital gains tax made on a chargeable person for the chargeable period, being the year 1998-99 or any subsequent year of assessment, the tax payable by the chargeable person for the chargeable period,”,
|
|
| |
and
|
|
| |
(iv) in subsection (10)—
|
|
| |
(I) in paragraph (a), by the substitution of the following for the words from “on or before the 9th day of December” to the end of the paragraph:
|
|
| |
“on or before—
|
|
| |
(i) in the case of the years 1997-98 and 1998-99, the 9th day of December, and
|
|
| |
(ii) in the case of the year 1999-2000 and any subsequent year of assessment, the 9th day of March,
|
|
| |
in the year of assessment to which the preliminary tax relates by virtue of subsection (2)(a).”,
|
|
| |
(II) in paragraph (b), by the substitution of the following for the words from “throughout the calendar year” to the end of the paragraph:
|
|
| |
“throughout—
|
|
| |
(i) in the case of the years 1997-98 and 1998-99, the calendar year or a part of that year in which the due date for the payment of that preliminary tax in accordance with subsection (2)(a) falls, and
|
|
| |
(ii) in the case of the year 1999-2000 or any subsequent year of assessment, that year,
|
|
| |
and the Collector-General shall debit the bank account of that person with such instalments on the 9th day of each month in that calendar year or a part of that calendar year or, as the case may be, in that year.”,
|
|
| |
and
|
|
| |
(III) by the substitution of the following paragraph for paragraph (c):
|
|
| |
“(c) (i) In the case of the years 1997-98 and 1998-99, the Collector-General may at any time, notwithstanding paragraph (b), agree to alter the amount of preliminary tax to be debited to the bank account of the chargeable person in accordance with this subsection.
|
|
| |
(ii) In the case of the year 1999-2000 or any subsequent year of assessment, the Collector-General may, in any particular case, in order to facilitate the payment of preliminary tax in accordance with this subsection, agree to vary the number of equal monthly instalments to be collected in a year or, after one or more monthly instalments have been paid in that year, agree to an increase or decrease in the amount to be collected in subsequent instalments in that year; but, a chargeable person shall not be treated as having paid an amount of preliminary tax in accordance with this subsection unless—
|
|
| |
(I) the number of monthly instalments paid by that person in the year of assessment is not less than 10, and
|
|
| |
(II) not less than 70 per cent of the amount of the preliminary tax payable by that person for that year is paid by instalments on or before the 31st day of December, in that year.”.
|
|
| |
(2) Every order made by the Minister for Finance under this section shall be laid before Dáil Éireann as soon as may be after it is made.
|
