Finance (Miscellaneous Provisions) Act, 1968
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Exemption from tax of certain foreign pensions. |
9.—(1) In section 53 (1) of the Income Tax Act, 1967 , the reference in paragraph (f) of Case III to income arising from possessions outside the State shall be deemed not to include a reference to any pension or similar benefit to which this section applies. | |
(2) This section applies to any pension or similar benefit which— | ||
(a) is given in respect of past services in an office or employment or is payable under provisions of the law of the country in which it arises which correspond to provisions of the Old Age Pensions Acts, 1908 to 1967, the Widows' and Orphans' Pensions Acts, 1935 to 1967, or the Social Welfare Acts, 1952 to 1967, and | ||
(b) if it were received by a person who, for the purposes of tax of the country in which it arises, is resident in that country and is not resident elsewhere, would not fall to be regarded as income for those purposes. | ||
In this paragraph “tax” means, in relation to any country, a tax which is chargeable and payable under the law of that country and which corresponds to income tax in the State. | ||
(3) This section shall have effect in relation to income tax for the year 1967-68 or for any subsequent year of assessment. |