Finance Act, 1947

Provisions in respect of deductions for the remuneration of directors in relation to corporation profits tax.

15.—In respect of every accounting period ending after the 31st day of December, 1946, proviso (c) to subsection (2) of section 53 of the Finance Act, 1920 , and subsection (4) of section 36 of the Finance Act, 1941 (No. 14 of 1941), shall be construed and have effect as if the words “one thousand five hundred pounds” were substituted therein for the words “one thousand pounds”.