Finance Act, 1958

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Delivery of particulars of retirement benefits schemes, etc.

39.—(1) It shall be the duty of a body corporate—

(a) to deliver to the inspector of taxes within the time specified in this subsection, particulars of any retirement benefits scheme subsisting in connection with the body corporate on the commencement of this Part of this Act, or coming into being after such commencement, other than a scheme operated through a fund approved by the Revenue Commissioners under section 32 of the Finance Act, 1921 , or a statutory superannuation scheme, and

(b) when required so to do by notice given by the inspector of taxes, to furnish within the time limited by the notice such further particulars as he may reasonably require with regard to any retirement benefits scheme subsisting in connection with the body corporate or to the persons to whom it relates.

The time for delivery of particulars under paragraph (a) of this subsection shall be—

(i) in the case of a scheme that came into being before the commencement of this Act, six months beginning with such commencement, and

(ii) in the case of a scheme coming into being after such commencement, three months beginning with the date of its coming into being.

(2) Where a retirement benefits scheme is for the time being approved for the purposes of this Part of this Act, it shall be the duty of the person having the management of the scheme, when required so to do by notice given by the inspector of taxes, to furnish within the time limited by the notice such particulars relating to the carrying out of the scheme as the inspector may reasonably require, including (in particular and without prejudice to the generality of the foregoing)—

(a) particulars of payments made to provide benefits under the scheme,

(b) particulars of payments made in respect of or on account of benefits under the scheme and of persons to whom such payments were made, and

(c) particulars of contributions refunded under the scheme and of any interest paid on such contributions.

(3) (a) Subsections (1) and (3) of section 107 of the Income Tax Act, 1918, shall apply in relation to particulars required by or under this section as they apply in relation to a list, declaration or statement required by notice referred to in the said subsection (1).

(b) In a case in which the said subsection (1) applies by virtue of the foregoing paragraph, the reference therein to the time limited in a notice shall be construed, where particulars are required to be delivered by paragraph (a) of subsection (1) of this section, as a reference to the time specified in that subsection.

(4) Where a body corporate deducts from the emoluments which it pays to any of its directors or employees, or pays on his behalf, any contributions of that director or employee under an approved retirement benefits scheme, particulars of the deduction or payment shall be included in the appropriate return of wages and salaries required to be furnished under section 105 of the Income Tax Act, 1918.