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PART V.
Corporation Profits Tax.
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Definitions in this Part of this Act.
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34.—In this Part of this Act—
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the expression “fixed rate”, when used in relation to a dividend, includes a rate varying with variations in the standard rate of income tax;
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references to the preference stock or shares of a company shall be construed as referring to all the issued stock or share capital of the company which carries a right to dividends at a fixed rate payable in priority to all dividends on another part of the capital of the company, whether it does or does not carry a right to some further participation in the profits of the company;
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references to the ordinary stock or shares of a company shall be construed as referring to all the issued capital of the company except the preference stock or shares of the company;
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references to the debentures or debenture stock of a company shall be construed as referring only to debentures or debenture stock issued in consideration of the payment of money;
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the expression “trade year” means a period of twelve months ending either on the date which is the relevant date for the company in relation to which the said expression is used or on a date which is twelve months or a multiple of twelve months prior to that date;
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the expression “relevant date” in the next preceding definition means, in relation to any company, the date in the year ended on the 31st day of August, 1939, to which the accounts of such company were last made up or, if the accounts of such company were not made up to any date in the said year, such date in that year as the Revenue Commissioners shall determine to be the relevant date for such company.
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