Finance Act, 1990
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Amendment of section 143 (return of profits) of Corporation Tax Act, 1976 . |
54.— Section 143 (as amended by section 16 of the Finance Act, 1981 ) of the Corporation Tax Act, 1976 , is hereby amended by the substitution of the following subsection for subsection (1): | |
“(1) A company may be required by a notice served on it by an inspector or other officer of the Revenue Commissioners to deliver to the officer within the time limited by the notice a return of— | ||
(a) the profits of the company computed in accordance with this Act— | ||
(i) specifying the income taken into account in computing those profits, with the amount from each source, | ||
(ii) giving particulars of all disposals giving rise to chargeable gains or allowable losses under the provisions of the Capital Gains Tax Acts and this Act and particulars of those chargeable gains or allowable losses, and | ||
(iii) giving particulars of all charges on income to be deducted against those profits for the purpose of the assessment to corporation tax other than those included in paragraph (c), | ||
(b) the distributions received by the company from companies resident in the State and the tax credits to which the company is entitled in respect of those distributions, | ||
(c) payments made from which income tax is deductible and to which the provisions of subsections (2) to (5) of section 434 (interest, etc., not payable out of taxed profits) of the Income Tax Act, 1967 , apply, and | ||
(d) all amounts which under section 98 (loans to participators etc.) of the Corporation Tax Act, 1976 , are deemed to be annual payments.”. |