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TAXES CONSOLIDATION ACT, 1997
Corporation tax: returns of profits
Particulars to be supplied by new companies.
[CTA76 s141(1), (1A), (1B) and (3) and s154; FA95 s58]
882. —(1) In this section, “secretary” includes persons mentioned in section 1044 (2) and, in the case of a company not resident in the State, the agent, manager, factor or other representative of the company.
(2) Every company which commences to carry on a trade, profession or business shall, within 30 days from the date of such commencement, deliver to the Revenue Commissioners a statement in writing containing the following particulars—
(a) the name of the company,
(b) the address of its registered office in the State or, in the case of a company not resident in the State, the address of its principal place of business in the State,
(c) the name of the secretary or, in the case of a company not resident in the State, the name and address of the agent, manager, factor or other representative of the company,
(d) the date of commencement of the trade, profession or business or, in the case of a company not resident in the State, the date of commencement of its trade or profession in the State,
(e) the nature of the trade, profession or business, and
(f) the date to which the first accounts relating to such trade, profession or business will be made up;
but this subsection shall not apply to a company which is neither resident nor incorporated in the State unless it commences to carry on a trade, profession or business in the State.
(3) Subject to subsection (4), every company which is incorporated in the State and is neither resident in the State nor carrying on a trade, profession or business in the State shall, in every case within 30 days of—
(a) the date on which it commences to carry on a trade, profession or business, wherever carried on,
(b) any time at which there is a material change in information previously delivered by the company under this subsection, and
(c) the giving of a notice to the company by an inspector requiring a statement under this subsection,
deliver to the Revenue Commissioners a statement in writing containing particulars of—
(i) the name of the company,
(ii) the address of its registered office in the State and the address of its principal place of business,
(iii) the nature of the trade, profession or business,
(iv) the name and address of the secretary of the company,
(v) (I) where the company is controlled by a company the shares in which are listed in the official list of a recognised stock exchange and have been the subject of dealings on such an exchange in the period of 12 months ending at the time at which the statement is delivered, the name of that company and the address of its registered office, and
(II) in any other case, the name and address of any individual or individuals who have control of the company,
(vi) the territory in which the central management and control of the company is normally carried out, and
(vii) such other information as the Revenue Commissioners consider necessary for the purposes of determining the territory in which the company is resident for the purposes of tax.
(4) Subsection (3) shall not apply to a company (in this subsection referred to as “the first-mentioned company”) if, at the time at which a statement under that subsection would apart from this subsection have to be delivered, there is a company which is a 90 per cent subsidiary of the first-mentioned company carrying on a trade or profession in the State.
(5) For the purposes of this section—
(a) sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411 (1) (c) were deleted, and
(b) control shall be construed in accordance with section 432 .
Notice of liability to corporation tax.
883. —Every company which is chargeable to corporation tax for any accounting period and which has not made a return of its profits for that accounting period shall, not later than one year after the end of that accounting period, give notice to the inspector that it is so chargeable.
Returns of profits.
[CTA76 s143(1) to (6), (7) (a), (b) and (d) and (12) (c); FA81 s16; FA83 s36; FA90 s54; FA92 s247]
884. —(1) In this section, “return” includes any statement, declaration or list.
(2) A company may be required by a notice served on it by an inspector or other officer of the Revenue Commissioners to deliver to the officer within the time limited by the notice a return of—
(a) the profits of the company computed in accordance with the Corporation Tax Acts—
(i) specifying the income taken into account in computing those profits, with the amount from each source,
(ii) giving particulars of all disposals giving rise to chargeable gains or allowable losses under the Capital Gains Tax Acts and the Corporation Tax Acts and particulars of those chargeable gains or allowable losses, and
(iii) giving particulars of all charges on income to be deducted against those profits for the purpose of the assessment to corporation tax, other than those included in paragraph (d),
(b) the distributions received by the company from companies resident in the State and the tax credits to which the company is entitled in respect of those distributions,
(c) all amounts of tax credits recoverable from the company under sections 157 (5) and 158(4) ,
(d) payments made from which income tax is deductible and to which subsections (3) to (5) of section 238 apply, and
(e) all amounts which under section 438 are deemed to be annual payments.
(3) An event which, apart from section 584 (3) as applied by section 586 or 587 , would constitute the disposal of an asset giving rise to a chargeable gain or an allowable loss under the Capital Gains Tax Acts and the Corporation Tax Acts shall for the purposes of this section constitute such a disposal.
(4) A notice under this section may require a return of profits arising in any period during which the company was within the charge to corporation tax, together with particulars of distributions received in that period from companies resident in the State and of tax credits to which the company is entitled in respect of those distributions.
(5) Every return under this section shall include a declaration to the effect that the return is correct and complete.
(6) A return under this section which includes profits which are payments on which the company has borne income tax by deduction shall specify the amount of income tax so borne.
(7) A notice under this section may require the inclusion in the return of particulars of management expenses, capital allowances and balancing charges which have been taken into account in determining the profits included in the return.
(8) Subsections (3), (4) and (5) (b) of section 913 shall apply in relation to a notice under this section as they apply in relation to a notice under any provision of the Income Tax Acts applied in relation to capital gains tax by section 913 .
(9) (a) In this subsection, “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.
(b) 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 or notices in writing requiring the company to do any of the following—
(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 specified in the notice, including, where the accounts have been audited, a copy of the auditor's certificate;
(ii) to make available for inspection by an inspector or by an authorised officer within such time as may be specified in the notice 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.
(c) The inspector or authorised officer may take copies of or extracts from any books, accounts or documents made available for his or her inspection under this subsection.