Taxes Consolidation Act, 1997
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Adjustment of allowances by reference to value-added tax. [FA75 s29; FA97 s20(14)] |
319.—(1) In computing any deduction, allowance or relief for the purposes of— | |
(a) this Part, | ||
(b) sections 658 and 659 , | ||
(d) sections 764 , 765 and 769 , | ||
the cost to a person of any machinery or plant, or the amount of any expenditure incurred by a person, shall not take account of any amount included in such cost or expenditure for value-added tax in respect of which the person may claim— | ||
(i) a deduction under section 12 of the Value-Added Tax Act, 1972 , or | ||
(ii) a refund of value-added tax under an order under section 20(3) of that Act. | ||
(2) In calculating for the purposes of this Part the amount of sale, insurance, salvage or compensation moneys to be taken into account in computing a balancing allowance or balancing charge to be made to or on a person, no account shall be taken of the amount of value-added tax (if any) chargeable to the person in respect of those moneys. |