Finance Act, 1992

Distributions to non-residents.

38.—(1) As respects distributions made on or after the 6th day of April, 1992, section 83 of the Corporation Tax Act, 1976 , is hereby amended by the substitution for subsection (4) of the following subsection:

“(4) Where a person who is not resident in the State receives a distribution made by a company which is resident in the State that distribution shall not be regarded as income of the person for any purpose of the Income Tax Acts:

Provided that, for the purposes of determining whether and to what extent a tax credit in respect of a distribution shall be paid to a person, this section shall apply as if section 38 of the Finance Act, 1992, had not been enacted.”.

(2) The Revenue Commissioners may by notice in writing require a company which has made a distribution to furnish them, within such time as they may direct, with such particulars as they consider necessary to identify persons benefiting from the provisions of subsection (4) of section 83 of the Corporation Tax Act, 1976 .