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Power of Collector-General to require certain persons to provide return of property.
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125.— Part 42 of the Principal Act is amended—
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(a) in section 960A by substituting “Chapters 1B, 1C and 1D” for “Chapters 1B and 1C”,
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(b) in section 960B by substituting “Chapters 1B, 1C and 1D” for “Chapters 1B and 1C”, and
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(c) by inserting the following after Chapter 1C:
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“Chapter 1D
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Power to require statement of affairs, security, etc.
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960R.— (1) In this section—
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‘asset’ includes any interest in an asset;
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‘prescribed’ means prescribed by the Revenue Commissioners;
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‘specified date’, in relation to a notice under subsection (3), means the date specified in the notice.
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(2) For the purposes of this section, the cost of acquisition to a person of an asset shall include—
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(a) the amount or value of the consideration, in money or money’s worth, given by the person or on the person’s behalf for the acquisition of the asset, together with the incidental costs to the person of the acquisition or, if the asset was not acquired by the person, any expenditure incurred by the person in acquiring the asset, and
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(b) the amount of any expenditure incurred on the asset by the person or on that person’s behalf for the purpose of enhancing the value of the asset, being expenditure reflected in the state or nature of the asset at the specified date, and any expenditure incurred by the person in establishing, preserving or defending the person’s title to, or to a right over, the asset.
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(3) Where tax is due and outstanding by a person and that person has failed to discharge that tax, the Collector-General may require—
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(a) that person, by notice in writing given to that person, and
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(b) where that person and his or her spouse or civil partner are jointly assessed to income tax under section 1017 or 1031C, that person’s spouse or civil partner, by notice in writing given to the spouse or civil partner,
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to deliver to the Collector-General within such time specified in the notice or within such period as the Collector-General may allow a statement of affairs in the prescribed form as at the date specified in the notice.
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(4) For the purposes of subsection (3), a request in writing by the Collector-General to clarify any matter contained in the statement of affairs shall be deemed to be a requirement to deliver a statement of affairs.
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(5) In this section ‘statement of affairs’, in relation to a notice under subsection (3), means—
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(a) where the person to whom notice is given is acting otherwise than in a representative capacity or as a trustee, a statement of all the assets wherever situated to which that person is beneficially entitled on the specified date and all the liabilities for which that person is liable on the specified date,
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(b) where the person to whom notice is given is a person (‘the first-mentioned person’) acting in a representative capacity for a person (‘the second-mentioned person’), a statement of all the assets wherever situated to which the second-mentioned person is beneficially entitled which give rise to tax in respect of which the first-mentioned person is liable in a representative capacity or are assets in respect of which the first-mentioned person performed functions or duties in a representative capacity and all the liabilities for which the first-mentioned person is liable on the specified date,
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(c) where the person to whom notice is given is a trustee of a trust, a statement of all the assets and liabilities comprised in the trust on the specified date, or
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(d) where the person to whom notice is given is the spouse or civil partner referred to in section (3)(b), a statement of all assets wherever situated to which that spouse or civil partner is beneficially entitled on the specified date and all the liabilities for which that spouse or civil partner is liable on the specified date.
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(6) Any assets to which a minor child of, or a minor child of the civil partner of, the person referred to in paragraph (a) or (b) of subsection (3) is beneficially entitled shall be included in that person’s statement of affairs under this section where—
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(a) such assets at any time before their acquisition by the minor child were disposed of by that person whether to that minor child or not, or
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(b) the consideration for the acquisition of such assets by the minor child was provided directly or indirectly by that person.
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(7) A statement of affairs delivered under this section shall contain in respect of each asset included in the statement—
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(a) a full description,
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(b) its location on the specified date,
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(c) the cost of acquisition to the person beneficially entitled to that asset,
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(d) the date of acquisition,
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(e) if it was acquired otherwise than by means of a bargain at arm’s length, the name and address of the person from whom it was acquired and the consideration, if any, given to that person in respect of its acquisition, and
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(f) details of all policies of insurance (if any) whereby the risk of any kind of damage or injury, or the loss or depreciation of the asset is insured.
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(8) A statement of affairs delivered under this section shall, in the case of an asset which is an interest other than an absolute interest, contain particulars of the title under which the beneficial entitlement arises.
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(9) A statement of affairs delivered under this section shall be signed by the person by whom it is delivered and shall include a declaration by that person that it is to the best of that person’s knowledge, information and belief correct and complete.
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(10) The Collector-General or an officer nominated by the Revenue Commissioners may require the declaration referred to in subsection (9) to be made on oath.”.
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