Finance Act, 1973

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Number 19 of 1973

FINANCE ACT, 1973

ARRANGEMENT OF SECTIONS

Income Tax, Sur-Tax and Corporation Profits Tax

Income Tax

Section
1.	Amendment of section 129 of Income Tax Act, 1967.
2.	Amendment of section 138 of Income Tax Act, 1967.
3.	Amendment of section 141 of Income Tax Act, 1967.
4.	Amendment of section 142 of Income Tax Act, 1967.
5.	Amendment of section 154 of Income Tax Act, 1967.
6.	Amendment of section 211 of Income Tax Act, 1967.
7.	Amendment of section 229 of Income Tax Act, 1967.
8.	Restriction of section 246 of Income Tax Act, 1967.
9.	Amendment of section 251 of Income Tax Act, 1967.
10.	Amendment of section 254 of Income Tax Act, 1967.
11.	Amendment of section 272 of Income Tax Act, 1967.
12.	Amendment of section 336 of Income Tax Act, 1967.
13.	Amendment of section 357 of Income Tax Act, 1967.
14.	Amendment of section 387 of Income Tax Act, 1967.
15.	Amendment of section 439 of Income Tax Act, 1967.
16.	Amendment of section 22 of Finance Act, 1971.
17.	Amendment of section 26 of Finance Act, 1971.
18.	Amendment of section 21 of Finance Act, 1972.
19.	Payments in respect of thalidomide children.
20.	Bodies for the promotion of Universal Declaration of Human Rights and the implementation of European Convention for the Protection of Human Rights and Fundamental Freedoms.
21.	Payments to universities.
22.	Recovery of income tax.
23.	Policies of life insurance.
24.	Business entertainment expenses.
25.	Capital allowances for cars costing over £2,500.
26.	Limit on renewals allowance for cars.
27.	Limit on deductions, etc., for hiring cars.
28.	Cars: provisions as to hire-purchase, etc..
29.	Cars: provisions where hirer becomes owner.
30.	Supplementary provisions relating to sections 25 to 29.
31.	Income tax on certain dividends.
32.	Confirmation of agreement on double taxation.

Chapter II

Income Tax, Sur-tax and Corporation Profits Tax

33.	Extension of charge to tax to profits and income derived from activities carried on and employments exercised on the Continental Shelf.
34.	Exemption from tax of income from patent royalties.
35.	Interest on unpaid taxes and duties.

Chapter III

Corporation Profits Tax

36.	Continuance of certain exemptions from corporation profits tax.
37.	Corporation profits tax on certain dividends.
38.	Confirmation of protocol on double taxation.

Chapter IV

Anti-avoidance and penalty provisions

39.	Change in ownership of company: disallowance of trading losses and restriction of capital allowances.
40.	Restriction of balancing allowances on sale of industrial buildings and structures.
41.	Amendment of section 117 of Income Tax Act, 1967.
42.	Cesser of section 121 of Income Tax Act, 1967.
43.	Amendment of section 128 of Income Tax Act, 1967.
44.	Amendment of section 335 of Income Tax Act, 1967.
45.	Amendment of Section 413 of Income Tax Act, 1967.
46.	Amendment of Section 503 of Income Tax Act, 1967.

PART II

Customs and Excise

47.	Beer.
48.	Spirits.
49.	Tobacco.
50.	Tobacco (excise duty on certain stocks).
51.	Cigarettes for export.
52.	Confirmation of Orders.

PART III

Death Duties

53.	Alteration of rates of estate duty.
54.	Provisions consequential on alteration of rates of estate duty.
55.	Amendment of rates of legacy duty and succession duty.
56.	Abatement of estate duty.
57.	Amendment of section 61 of Finance (1909-10) Act, 1910.
58.	Amendment of section 24 of Finance Act, 1965.
59.	Relief for certain moneys payable under policies of assurance.
60.	Exemption from duty of certain unit trusts.
61.	Amendment of section 33 of Finance Act, 1935.

PART IV

Stamp Duties

Chapter I

Miscellaneous

62.	Commencement (Chapter I).
63.	Amendment of section 88 of Stamp Act, 1891.
64.	Amendment of First Schedule to Stamp Act, 1891.
65.	Amendment of section 50 of Finance Act, 1969.
66.	Revocation of Order.

Chapter II

Stamp Duty on Capital Companies

67.	Interpretation (Chapter II).
68.	Charge of stamp duty.
69.	Statement to be charged with stamp duty.
70.	Amount on which stamp duty chargeable.
71.	Abolition of certain stamp duty and relief in respect of certain payments of stamp duty.
72.	Reconstructions or amalgamations of capital companies.
73.	Exemption for certain companies.
74.	Appeals in certain cases.
75.	Recovery of stamp duty and furnishing of information.

PART V

Value-Added Tax

76.	Commencement (Part V).
77.	“Principal Act”.
78.	Amendment of section 3 of Principal Act.
79.	Amendment of section 5 of Principal Act.
80.	Amendment of section 11 of Principal Act.
81.	Amendment of section 12 of Principal Act.
82.	Amendment of section 19 of Principal Act.
83.	Amendment of section 26 of Principal Act.
84.	Amendment of section 27 of Principal Act.
85.	Amendment of section 32 of Principal Act.
86.	Amendment of section 35 of Principal Act.
87.	Amendment of First Schedule to Principal Act.
88.	Amendment of Second Schedule to Principal Act.
89.	Amendment of Third Schedule to Principal Act.
90.	Miscellaneous amendments of Principal Act.

PART VI

Miscellaneous

91.	Capital Services Redemption Account.
92.	Securities of certain European bodies.
93.	Amendment of Finance (Excise Duties) (Vehicles) Act, 1952.
94.	Charge on first licensing of mechanically propelled vehicles.
95.	Increase of driving licence duty.
96.	Repeals.
97.	Care and management of taxes and duties.
98.	Short title, construction and commencement.

FIRST SCHEDULE

Policies of Life Insurance

SECOND SCHEDULE

Agreement between the Government of Ireland and the Government of the United Kingdom with respect to certain exemptions from tax

THIRD SCHEDULE

Extension of Charge to Tax to Profits and Income Derived from Activities Carried on and Employments Exercised on the Continental Shelf — Supplementary Provisions

FOURTH SCHEDULE

Protocol between the Government of Ireland and the Government of the United Kingdom amending the Agreement for the Reciprocal Relief of Double Taxation in respect of Irish Corporation Profits Tax and United Kingdom Profits Tax, signed on 18 May 1949

FIFTH SCHEDULE

Part I

Disallowance of Trading Losses and Restriction of Capital Allowances

Part II

Provisions for Determining the amount of Capital held in a Company through other Companies

SIXTH SCHEDULE

Spirits (Rates of Ordinary Customs Duty)

Duties on Tobacco

Customs

Customs

Customs

Excise

Scale of Rates of Estate Duty

NINTH SCHEDULE

Stamp Duties on Instruments

Part I

Bond, Covenant or Instrument of any kind whatsoever

Part II

Conveyance or Transfer on sale of any property other than stocks or marketable securities

Part III

Part IV

Mortgage, Bond, Debenture, Covenant (except a marketable security) and Warrant of Attorney to confess and enter up judgment

TENTH SCHEDULE

Amendment of Enactments

ELEVENTH SCHEDULE

Enactments Repealed

Acts Referred to
Income Tax Act, 1967	1967, No. 6
Finance Act, 1969	1969, No. 21
Finance Act, 1972	1972, No. 19
Finance Act, 1971	1971, No. 23
Continental Shelf Act, 1968	1968, No. 14
Finance Act, 1968	1968, No. 33
Finance Act, 1936	1936, No. 45
Other Minerals Development Act, 1960	1960, No. 7
Patents Act, 1964	1964, No. 12
Stamp Act, 1891	1891, c. 39
Value-Added Tax Act, 1972	1972, No. 22
Finance Act, 1929	1929, No. 32
Finance Act, 1920	1920, c. 18
Finance Act, 1949	1949, No. 13
Finance Act, 1964	1964, No. 15
Finance (Miscellaneous Provisions) Act, 1968	1968, No. 7
Friendly Societies Act, 1896	1896, c. 25
Finance Act, 1933	1933, No. 15
Finance Act, 1919	1919, c. 32
Finance Act, 1926	1926, No. 35
Finance Act, 1932	1932. No. 20
Finance Act, 1940	1940, No. 14
Finance Act, 1934	1934, No. 31
Tobacco Act, 1842	1842, c. 93.
Manufactured Tobacco Act, 1863	1863, c. 7
Finance Act, 1961	1961, No. 23
Finance Act, 1931	1931, No. 31
Finance (1909-10) Act, 1910	1910, c. 8
Finance Act, 1965	1965, No. 22
Unit Trusts Act, 1972	1972, No. 17
Finance Act, 1951	1951, No, 15
Finance Act, 1956	1956, No. 22
Finance Act, 1970	1970, No. 14
Finance Act, 1935	1935, No. 28
Central Bank Act, 1971	1971, No. 24
Limited Partnerships Act, 1907	1907, c. 24
Finance Act, 1899	1899, c. 9
Finance (Excise Duties) (Vehicles) Act, 1952	1952, No. 24
Road Traffic Act, 1961	1961, No. 24
Roads Act, 1920	1920, c. 72
Finance Act, 1962	1962, No. 15

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Number 19 of 1973

FINANCE ACT, 1973

AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE), TO AMEND THE LAW RELATING TO CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [4th August, 1973]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Finance Act, 1973 Permanent Page URL

Finance Act, 1973

Permanent Page URL