First Previous (Chapter V Income Tax and Corporation Tax) Next (Chapter VII Advance Corporation Tax)

15 1983

FINANCE ACT, 1983

Chapter VI

Corporation Tax

Continuance of relief in respect of increase in employment.

31. Chapter VII of Part I of the Finance Act, 1982 , shall have effect as respects an accounting period or part of an accounting period of a company falling within the year ending on the 30th day of June, 1984, as it has effect as respects an accounting period or part of an accounting period of a company falling within the year ending on the 30th day of June, 1983, subject to the modifications that—

(a) in section 43 of that Act, in the definition of “relevant period”, “1984” shall be substituted for “1983”,

(b) in sections 44 and 45 of that Act, “1983” shall be substituted for “1982” in each place where it occurs, and

(c) in section 46 of that Act, “1982” shall be substituted for “1981”.

Exemption from corporation tax of profits of Bord Gáis Éireann.

32. —Notwithstanding any provision of the Corporation Tax Acts, profits arising to Bord Gáis Éireann in any accounting period ending after the 31st day of December, 1982, shall be exempt from corporation tax.

Amendment of section 56 (export of certain goods) of Corporation Tax Act, 1976.

33. Section 56 of the Corporation Tax Act, 1976 , is hereby amended, as respects sales (whether made before or after the passing of this Act) of any pigmeat product, by the substitution in subsection (1) for the definition of “the Commission” of the following definition:

“‘the Commission’ means the Pigs and Bacon Commission or the Pigs and Bacon Commission Limited, as the case may be;”.

Extension of exempted transactions in relation to agricultural societies.

34. —The Second Schedule to the Finance Act, 1978 , is hereby amended by the insertion in paragraph 2 of Part I before “warble fly eradication” of “services provided in the course of promoting the breeding, registration and sale of pedigree breeds of farm livestock”.

Amendment of section 98 (loans to participators, etc.) of Corporation Tax Act, 1976.

35. Section 98 of the Corporation Tax Act, 1976 , is hereby amended by the insertion after subsection (8) of the following subsection:

“(9) For the purposes of this section and in relation to any loan or advance made on or after the 23rd day of May, 1983, section 94 (1) shall have effect as if the reference in paragraph (b) to a registered industrial and provident society were deleted.”.

Amendment of section 143 (return of profits) of Corporation Tax Act, 1976.

36. Section 143 of the Corporation Tax Act, 1976 , is hereby amended by the substitution of the following subsection for subsection (7):

“(7) (a) Where a company which has been duly required to deliver a return under this section fails to deliver the return, or where the inspector is not satisfied with the return delivered by any such company, an authorised officer may serve on that company a notice in writing or notices in writing requiring it to do any of the following things, that is to say—

(i) to deliver to the inspector or to the authorised officer copies of such accounts (including balance sheets) of the company as may be specified or described in the notice, within such period as may be therein specified, including, where the accounts have been audited, a copy of the auditor's certificate;

(ii) to make available, within such time as may be specified in the notice, for inspection by an inspector or by an authorised officer, all such books, accounts and documents in the possession or power of the company as may be specified or described in the notice, being books, accounts and documents which contain information as to profits, assets or liabilities of the company.

(b) The inspector or authorised officer may take copies of, or extracts from, any books, accounts or documents made available for his inspection under this subsection.

(c) The reference in subsection (8) (a) to the delivery of a return shall be deemed to include a reference to the doing of any of the things specified in subparagraphs (i) and (ii) of paragraph (a) of this subsection.

(d) In this subsection ‘an authorised officer’ means an inspector or other officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this subsection.”.

Amendment of section 146 (appeals) of Corporation Tax Act, 1976.

37. Section 146 of the Corporation Tax Act, 1976 , is hereby amended by the substitution of the following subsection for subsection (1):

“(1) The provisions of Part XXVI (Appeals) of the Income Tax Act, 1967 , shall apply for the purposes of corporation tax as they apply for the purposes of income tax and, accordingly, in those provisions—

(a) any reference to income tax shall be taken as including a reference to corporation tax,

(b) any reference to a year of assessment shall be taken as including a reference to an accounting period,

(c) any reference to a return of income shall be taken as including a reference to a return under section 143, and

(d) any reference to the Income Tax Acts shall be taken as including a reference to the Corporation Tax Acts.”.