Finance Act, 1973
|
Statement to be charged with stamp duty. |
69.—(1) Where any transaction takes place, a statement of the assets, liabilities and expenses referred to in section 70 of this Act shall be delivered to the registrar— | |
(a) in the case of the formation of a capital company which is to be incorporated under the Companies Act, 1963 , or formed under the Limited Partnerships Act, 1907 , before the incorporation or registration thereof, and | ||
(b) in any other case, within 30 days after the date of the transaction, | ||
and the statement shall be charged with stamp duty at the rate of £1 for every £100 or part of £100 of the amount determined in accordance with the said section 70; | ||
Provided that in the case referred to in paragraph (a) of this subsection, the statement shall be charged with stamp duty of not less than £1: | ||
Provided also that, in the case referred to in paragraph (a) of this subsection, if there is difficulty in ascertaining the exact amount in respect of which stamp duty is chargeable, the statement shall be charged in the first instance with stamp duty at the rate aforesaid in respect of such amount as the Revenue Commissioners consider appropriate and, if afterwards— | ||
(i) it is established that too little duty has been paid, the additional duty shall be payable and be treated as duty in arrear, and | ||
(ii) it is established that too much duty has been paid, the excess shall be repaid by the Revenue Commissioners with interest at the rate of 9 per cent. per annum. | ||
(2) In the case of neglect to deliver within 30 days after the date of a transaction the statement required under subsection (1) of this section to be so delivered, the capital company concerned shall be liable to pay to the Revenue Commissioners interest at the rate of one pound per cent. upon the amount of duty chargeable and a like sum for every month after the first month during which the neglect shall continue. | ||
(3) Interest on the additional duty payable under subsection (1) (i) of this section shall be charged at the rate of 9 per cent. per annum from the date of the transaction which gave rise to the charge for duty until the date of payment of the duty. | ||
(4) Save in the case of the capital companies specified in section 73 of this Act, the registrar shall not incorporate a capital company which is to be incorporated under the Companies Act, 1963 , or register a capital company which is to be formed under the Limited Partnerships Act, 1907 , until the statement referred to in subsection (1) of this section in relation to the company is stamped. |