Income Tax Act, 1967.

Exemption of dividends of non-residents.

462.—(1) No tax shall be chargeable in respect of dividends to which this Part applies which are payable in the State where it is proved to the satisfaction of the Revenue Commissioners that the person owning the stocks, funds, shares or securities and entitled to the income arising therefrom, is not resident in the State but, save as provided by this Act, no allowance shall be given or repayment be made in respect of the tax on dividends to which this Part applies which are payable in the State:

Provided that where the dividends are from stocks, funds, shares or securities which are held under any trust, and the person who is the beneficiary in possession under the trust is the sole beneficiary in possession and can, by means either of the revocation of the trust or of the exercise of any powers under the trust, call upon the trustees at any time to transfer the stocks, funds, shares or securities to him absolutely free from any trust, that person shall, for the purposes of this section, be deemed to be the person owning the stocks, funds, shares or securities.

(2) Relief under this section may be given by the Revenue Commissioners either by way of allowance or repayment, on a claim being made to them for that purpose.

(3) Any person who is aggrieved by the decision of the Revenue Commissioners on any question as to residence arising under this section may, by notice in writing to that effect given to the Revenue Commissioners within two months from the date on which notice of the decision is given to him, make an application to have his claim for relief heard and determined by the Special Commissioners.

(4) Where an application is made under subsection (3), the Special Commissioners shall hear and determine the claim in like manner as an appeal made to them against an assessment and all the provisions of this Act relating to such an appeal (including the provisions relating to the rehearing of an appeal and to the statement of a case for the opinion of the High Court on a point of law) shall apply accordingly with any necessary modifications.