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Assessment of corporation tax.
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144.—(1) Assessments to corporation tax shall be made by an inspector.
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(2) Where a company on whose profits the tax is to be assessed is resident in the State the tax shall be assessed on the company, and where a company on whose profits the tax is to be assessed is not resident in the State the tax shall be assessed on the company in the name of any agent, manager, factor or other representative of the company.
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(3) The inspector shall give notice to the company assessed, or, in the case of a company which is not resident in the State, to the agent, manager, factor or other representative of the company assessed, of every assessment made by him.
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(4) If—
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(a) a company makes default in the delivery of a statement in respect of corporation tax, or
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(b) the inspector is not satisfied with a statement which has been delivered, or has received any information as to its insufficiency,
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the inspector shall make an assessment on the company concerned in such sum as, according to the best of the inspector's judgment, ought to be charged on that company.
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(5) (a) If an inspector discovers—
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(i) that any profits which ought to have been assessed to corporation tax have not been assessed, or
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(ii) that an assessment to corporation tax is or has become insufficient, or
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(iii) that any relief which has been given is or has become excessive,
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the inspector shall make an assessment in the amount, or the further amount, which ought in his opinion to be charged.
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(b) Subject to any provision allowing a longer period in any class of case, no assessment to corporation tax shall be made more than ten years after the end of the accounting period to which it relates:
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Provided that in a case in which any form of fraud or neglect has been committed by or on behalf of any company in connection with or in relation to corporation tax, an assessment may be made on that company at any time for any accounting period for which, by reason of the fraud or neglect, corporation tax would otherwise be lost to the Exchequer.
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(c) An objection to the making of any assessment on the ground that the time limited for the making thereof has expired shall only be made on appeal from the assessment.
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(d) In this subsection “neglect” means negligence or a failure to give any notice, to make any return, statement or declaration, or to produce or furnish any list, document or other information required by or under the enactments relating to corporation tax:
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Provided that a company shall be deemed not to have failed to do anything required to be done within a limited time if it did it within such further time, if any, as the Revenue Commissioners or officer concerned may have allowed; and where a company had a reasonable excuse for not doing anything required to be done, it shall be deemed not to have failed to do it if it did it without unreasonable delay after the excuse had ceased.
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