S.I. No. 223/1970 - Income Tax (Employment's) Regulations, 1970.

S.I. No. 223 of 1970.

INCOME TAX (EMPLOYMENT'S) REGULATIONS, 1970.

The Revenue Commissioners, in exercise of the powers conferred upon them by section 127 of the Income Tax Act, 1967 (No. 6 of 1967), hereby make the following regulations:

1. These Regulations may be cited as the Income Tax (Employments) Regulations, 1970.

2. The Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 ), are hereby amended by the insertion after Part VII (inserted by the Income Tax (Employments) (No. 2) Regulations, 1960 ( S.I. No. 166 of 1960 ) ) of the Part set out in the Schedule to these Regulations.

SCHEDULE

PART VIII

Furnishing of certain additional particulars in relation to employees

57. (1) The Inspector may serve notice on an employer requiring him to furnish, within the time limited in the notice, the name, address and income tax reference number of each employee who belongs to a class or classes specified in the notice the amount of whose emoluments for the year (that amount being calculated at the rate for the time being of such emoluments) is not likely to exceed an amount specified in the notice in relation to the class to which the employee belongs.

(2) If the cumulative emoluments of an employee, in respect of whom particulars have been furnished to the Inspector pursuant to a noticed served on the employer under paragraph (1) of this Regulation, exceed at any time during the year the amount specified in the notice, the employer shall, within fourteen days from the date on which the said cumulative emoluments first exceed the amount so specified, so notify the Inspector.

58. Every employer shall, within fourteen days from the date in any year on which the cumulative emoluments of an employee first exceed the sum of £2,000, notify the Inspector that the said cumulative emoluments have exceeded the said sum in the case of that employee:

Provided that this Regulation shall not apply in relation to an employee in respect of whom the tax deduction card held by the employer for the year requires deduction of tax to be made from emoluments at the standard rate.

GIVEN this 1st day of October, 1970.

J. F. RICHARDSON,

Revenue Commissioner.

EXPLANATORY NOTE.

Under these Regulations an employer may be required to identify for the Inspector of Taxes employees of a particular class or classes whose emoluments for a year are not likely to exceed an amount specified in relation to any class. If, in fact, the emoluments of any such employee exceed the specified amount during the year the employer must so notify the Inspector of Taxes within fourteen days from the date on which the emoluments first exceed that amount.

If the emoluments of an employee in respect of whom the employer does not hold an authorisation to deduct tax at the standard rate should exceed £2,000 in the course of a year, the Regulations require the employer to notify the Inspector of Taxes that the emoluments have exceeded that amount. Any such notice must be sent to the Inspector within fourteen days from the date on which the emoluments first exceed £2,000.