PART 6

Miscellaneous

91 .— In this Part “ Principal Act ” means the Taxes Consolidation Act 1997 .

92 .— The Principal Act is amended—

(a) in section 891B(1) by substituting the following for paragraph (a) of the definition of “ financial institution ”:

“(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971 , or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,”,

(b) in section 900 by substituting the following for subsection (4):

“(4) Nothing in this section shall be construed as requiring any person to disclose to an authorised officer—

(a) information with respect to which a claim to legal professional privilege could be maintained in legal proceedings,

(b) information of a confidential medical nature, or

(c) professional advice of a confidential nature given to a client (other than advice given as part of a dishonest, fraudulent or criminal purpose).”,

(c) in section 901 by substituting the following for subsection (3):

“(3) Nothing in this section shall be construed as requiring any person to disclose to an authorised officer—

(a) information with respect to which a claim to legal professional privilege could be maintained in legal proceedings,

(b) information of a confidential medical nature, or

(c) professional advice of a confidential nature given to a client (other than advice given as part of a dishonest, fraudulent or criminal purpose).”,

(d) in section 902 by substituting the following for subsection (9):

“(9) Nothing in this section shall be construed as requiring any person to disclose to an authorised officer—

(a) information with respect to which a claim to legal professional privilege could be maintained in legal proceedings,

(b) information of a confidential medical nature, or

(c) professional advice of a confidential nature given to a client (other than advice given as part of a dishonest, fraudulent or criminal purpose).”,

(e) in section 902A by substituting the following for subsection (6):

“(6) Nothing in this section shall be construed as requiring any person to disclose to an authorised officer—

(a) information with respect to which a claim to legal professional privilege could be maintained in legal proceedings,

(b) information of a confidential medical nature, or

(c) professional advice of a confidential nature given to a client (other than advice given as part of a dishonest, fraudulent or criminal purpose).”,

(f) in section 905(2) by substituting the following for paragraph (c):

“(c) Nothing in this section shall be construed as requiring any person to disclose to an authorised officer—

(i) information with respect to which a claim to legal professional privilege could be maintained in legal proceedings,

(ii) information of a confidential medical nature, or

(iii) professional advice of a confidential nature given to a client (other than advice given as part of a dishonest, fraudulent or criminal purpose).”,

(g) in section 906A(1) by substituting the following for paragraph (a) of the definition of “ financial institution ”:

“(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971 , or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,”,

(h) in section 908A(1) by substituting the following for paragraph (a) of the definition of “ financial institution ”:

“(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971 , or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,”,

(i) in section 908B(1) by substituting the following for paragraph (a) of the definition of “ financial institution ”:

“(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971 , or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,”,

(j) in section 1002(1) by substituting the following for the definition of “ financial institution ”:

“ ‘ financial institution’ means —

(a) a person who holds or has held a licence under section 9 of the Central Bank Act 1971 , or a person who holds or has held a licence or other similar authorisation under the law of any other Member State of the European Communities which corresponds to a licence granted under that section,

(b) a person referred to in section 7(4) of the Central Bank Act 1971 ,

(c) a credit institution (within the meaning of the European Communities (Licensing and Supervision of Credit Institutions) Regulations 1992 (S.I. No. 395 of 1992)) which has been authorised by the Central Bank and Financial Services Authority of Ireland to carry on business of a credit institution in accordance with the provisions of the supervisory enactments (within the meaning of those Regulations), or

(d) a branch of a financial institution which records deposits in its books as liabilities of the branch;”,

and

(k) in section 1078(3B) by inserting “within a period of 30 days commencing on the day the order is made” after “in subsection (3A)”.

93 .— The Principal Act is amended by inserting the following after section 896:

“896A.— (1) In this section—

‘ authorised officer ’ means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred on them by this section;

‘ settlement ’ and ‘ settlor ’ have the same meanings respectively as in section 10.

(2) Where any person, in the course of a trade or profession carried on by that person, has been concerned with the making of a settlement and knows or has reason to believe that, at the time of the making of the settlement—

(a) the settlor was resident or ordinarily resident in the State, and

(b) the trustees of the settlement were not resident in the State,

then that person shall, within the period specified in subsection (3), deliver to the appropriate inspector (within the meaning assigned by section 894(1)) a statement specifying—

(i) the name and address of the settlor,

(ii) the names and addresses of the persons who are the trustees of the settlement, and

(iii) the date on which the settlement was made or created.

(3) The statement referred to in subsection (2) shall be delivered—

(a) in a case where the settlement is one made on or after the date of the passing of the Finance (No. 2) Act 2008, within 4 months of the date of the making of the settlement, or

(b) in a case where the settlement is one made within the 5 year period prior to the passing of the Finance (No. 2) Act 2008, within 6 months of the date of the passing of the Act.

(4) For the purposes of this section trustees of a settlement shall be regarded as not resident in the State unless the general administration of the settlement is ordinarily carried on in the State and the trustees or a majority of each class of trustees are for the time being resident in the State.

(5) An authorised officer may by notice in writing require any person, whom the authorised officer has reason to believe has information relating to a settlement, to furnish to the authorised officer such information within such time as the authorised officer may direct.”.

94 .— (1) Chapter 5 of Part 42 of the Principal Act is amended—

(a) in section 1003(5) by substituting “an amount equal to 80 per cent of the market value” for “an amount equal to the market value”, and

(b) in section 1003A(5) by substituting “an amount equal to 80 per cent of the market value” for “an amount equal to the market value”.

(2) Subsection (1) applies—

(a) in the case of paragraph (a) of that subsection, as respects any determination made under section 1003(2)(a) of the Principal Act by the selection committee (within the meaning of that section), on or after 1 January 2009, and

(b) in the case of paragraph (b) of that subsection, as respects any determination made under section 1003A(2)(a) of the Principal Act by the Minister for the Environment, Heritage and Local Government, on or after 1 January 2009.

95 .— Section 811A of the Principal Act is amended by inserting the following after subsection (6):

“(6A) The Revenue Commissioners may nominate any of their officers to perform any acts and discharge any functions authorised by this section to be performed or discharged by the Revenue Commissioners, and references in this section to the Revenue Commissioners shall with any necessary modifications be construed as including references to an officer so nominated.”.

96 .— (1) The enactments specified in Schedule 3 are amended to the extent and in the manner specified in paragraphs 1 and 2 of that Schedule.

(2) This section and Schedule 3 have effect as on and from 1 January 2009.

97 .— The enactments specified in Schedule 4 are amended to the extent and manner specified in paragraphs 1 to 6 of, and the Table to, that Schedule.

98 .— (1) The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after the passing of this Act.

(2) Notwithstanding subsection (1), as respects subparagraph (ar) of paragraph 2 of Schedule 5—

(a) clauses (i), (iv), (v) and (vi) of that subparagraph shall apply as respects penalties, as are referred to in paragraphs (a) and (b) of section 1086(2), which are imposed or determined by a court on or after the passing of this Act, and

(b) clauses (ii) and (iii) of that subparagraph shall apply as respects specified sums, as are referred to in paragraphs (c) and (d) of section 1086(2), which the Revenue Commissioners accepted, or undertook to accept, in settlement of a specified liability on or after the passing of this Act.

99 .— The enactments specified in Schedule 6 —

(a) are amended to the extent and in the manner specified in paragraphs 1 to 6 of that Schedule, and

(b) apply and come into operation in accordance with paragraph 7 of that Schedule.

100 .— (1) In this section—

“ capital services ” has the same meaning as it has in the principal section;

“ fifty-sixth additional annuity ” means the sum charged on the Central Fund under subsection (2);

“ principal section ” means section 22 of the Finance Act 1950 .

(2) A sum of €403,709,206 to redeem borrowings, and interest on such borrowings, in respect of capital services shall be charged annually on the Central Fund or the growing produce of that Fund in the thirty successive financial years commencing with the financial year ending on 31 December 2009.

(3) The fifty-sixth additional annuity shall be paid into the Capital Services Redemption Account in such manner and at such times in the relevant financial year as the Minister for Finance may determine.

(4) Any amount of the fifty-sixth additional annuity, not exceeding €310,300,000 in any financial year, may be applied toward defraying the interest on the public debt.

(5) The balance of the fifty-sixth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.

101 .— All taxes and duties imposed by this Act are placed under the care and management of the Revenue Commissioners.

102 .— (1) This Act may be cited as the Finance (No. 2) Act 2008.

(2) Part 1 shall be construed together with—

(a) in so far as it relates to income tax, income levy and parking levy, the Income Tax Acts,

(b) in so far as it relates to corporation tax, the Corporation Tax Acts, and

(c) in so far as it relates to capital gains tax, the Capital Gains Tax Acts.

(3) Part 2 , in so far as it relates to duties of excise, shall be construed together with the statutes which relate to those duties and to the management of those duties.

(4) Part 3 shall be construed together with the Value-Added Tax Acts 1972 to 2008 and may be cited together with those Acts as the Value-Added Tax Acts.

(5) Part 4 shall be construed together with the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act.

(6) Part 5 shall be construed together with the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act.

(7) Part 6 in so far as it relates to—

(a) income tax, shall be construed together with the Income Tax Acts,

(b) corporation tax, shall be construed together with the Corporation Tax Acts,

(c) capital gains tax, shall be construed together with the Capital Gains Tax Acts,

(d) customs, shall be construed together with the Custom Acts,

(e) duties of excise, shall be construed together with the statutes which relate to duties of excise and the management of those duties,

(f) value-added tax, shall be construed together with the Value-Added Tax Acts,

(g) stamp duty, shall be construed together with the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act,

(h) residential property tax, shall be construed together with Part VI of the Finance Act 1983 and the enactments amending or extending that Part, and

(i) gift tax or inheritance tax, shall be construed together with the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that Act.

(8) Except where otherwise expressly provided in Part 1 , that Part is deemed to have come into force and takes effect as on and from 1 January 2009.

(9) Except where otherwise expressly provided for, where a provision of this Act is to come into operation on the making of an order by the Minister for Finance, that provision shall come into operation on such day or days as the Minister for Finance shall appoint either generally or with reference to any particular purpose or provision and different days may be so appointed for different purposes or different provisions.