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Provision for further securing income tax on foreign and colonial dividends.
5 & 6 Vict. c. 35.
16 & 17 Vict. c. 34.
24 & 25 Vict. c. 91.
5 & 6 Vict. c. 80.
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26. [Recital.] Section ninety-six of the Income Tax Act, 1842, section two of the Income Tax (Foreign Dividends) Act, 1842, section ten of the Income Tax Act, 1853, and section thirty-six of the Revenue (No. 2) Act, 1861, shall be read in relation to the dividends therein respectively mentioned, as if the said sections included amongst the persons entrusted with the payment of such dividends the persons herein-after described; (that is to say,)
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(a.) Any banker or person acting as a banker who shall sell or otherwise realize coupons or warrants for or bills of exchange purporting to be drawn or made in payment of any dividends (save such as are payable in the United Kingdom only), and pay over the proceeds to any person or carry the same to his account;
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(b.) Any person who shall, by means of[1]
coupons received from any person, or otherwise on his behalf, obtain payment of any dividends elsewhere than in the United Kingdom;
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(c.) Any dealer in coupons who shall purchase [1]
coupons for any dividends (save such as are payable in the United Kingdom only) otherwise than from a banker or person acting as a banker, or another dealer in coupons;
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A person entrusted with the payment of dividends, who shall perform all necessary acts so that the income tax thereon may be assessed and paid, shall be entitled to receive as remuneration an allowance of so much (not being less than threepence) in the pound of the amount paid as may from time to time be fixed by the Commissioners of the Treasury.
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Provided that this section shall not impose on any banker or other person the obligation to disclose any particulars relating to the affairs of any person on whose behalf he may be acting.
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[S. 27 and Sched. rep. 61 & 62 Vict. c. 22 (S.L.R.)]
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[1 The words “coupons” in Sub-section (b) and “coupons for any dividends” in Sub-section (c) include warrants for or bills of exchange purporting to be drawn or made in payment of any dividends, 51 & 52 Vict. c. 8. s. 24.
[1 The words “coupons” in Sub-section (b) and “coupons for any dividends” in Sub-section (c) include warrants for or bills of exchange purporting to be drawn or made in payment of any dividends, 51 & 52 Vict. c. 8. s. 24. |
