Finance Act 2013

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Number 8 of 2013

FINANCE ACT 2013

ARRANGEMENT OF SECTIONS

PART 1

Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax

Chapter 1

Interpretation

Section

1. Interpretation (Part 1).

Chapter 2

Universal Social Charge

2. Amendment of section 531AM (charge to universal social charge) of Principal Act.

3. Amendment of section 531AN (rate of charge) of Principal Act.

4. Amendment of section 531AAA (application of provisions relating to income tax) of Principal Act.

Chapter 3

Income Tax

5. Amendment of section 472D (relief for key employees engaged in research and development activities) of Principal Act.

6. Amendment of section 71 (foreign securities and possessions) of Principal Act.

7. Amendment of sections 88A (double deduction in respect of certain emoluments) and 472A (relief for the long-term unemployed) of Principal Act.

8. Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act.

9. Amendment of section 244 (relief for interest paid on certain home loans) of Principal Act.

10. Amendment of section 823A (deduction for income earned in certain foreign states) of Principal Act.

11. Amendment of section 473A (relief for fees paid for third level education, etc.) of Principal Act.

12. Tax treatment of loans from employee benefit schemes.

13. Benefit in kind: miscellaneous amendments.

14. Ex gratia payments: miscellaneous amendments.

15. Amendment of section 470 (relief for insurance against expenses of illness) of Principal Act.

16. Amendment of section 70 (Case III: basis of assessment) of Principal Act.

17. Retirement benefits.

18. Provisions relating to loss relief.

Chapter 4

Income Levy, Income Tax, Corporation Tax and Capital Gains Tax

19. Donations to approved bodies.

20. Farm taxation.

21. Amendment of section 481 (relief for investment in films) of Principal Act.

22. Amendment of Part 16 (income tax relief for investment in corporate trades — employment and investment incentive and seed capital scheme) of Principal Act.

23. Amendment of Part 8 (annual payments, charges and interest) of Principal Act.

24. Amendment of section 267N (interpretation) of Principal Act.

25. Amendment of section 1003A (payment of tax by means of donation of heritage property to an Irish heritage trust) of Principal Act.

26. Amendment of Schedule 24 (relief from income tax and corporation tax by means of credit in respect of foreign tax) to Principal Act.

27. Amendment of section 79C (exclusion of foreign currency as asset of certain companies) of Principal Act.

28. Amendment of section 766 (tax credit for research and development expenditure) of Principal Act.

29. Amendment of section 246 (interest payments by companies and to non-residents) of Principal Act.

30. Living City Initiative.

31. Incentives for certain aviation services facilities.

32. Amendment of Chapter 3 (other obligations and returns) of Part 38 of Principal Act.

Chapter 5

Corporation Tax

33. Amendment of surcharges on undistributed investment and estate income and undistributed income of service companies.

34. Amendment of section 486C (relief from tax for certain start-up companies) of Principal Act.

35. Amendment of section 288 (balancing allowances and balancing charges) of Principal Act.

36. Amendment of section 226 (certain employment grants and recruitment subsidies) of and Schedule 4 (exemption of specified non-commercial State-sponsored bodies from certain tax provisions) to Principal Act.

37. Amendment of section 396B (relief for certain trading losses on a value basis) of Principal Act.

38. Amendment of section 411 (surrender of relief between members of groups and consortia) of Principal Act.

39. Rate of appropriate tax for companies.

40. Life assurance policies and investment funds.

41. REITS.

42. Tax treatment of investment limited partnerships.

Chapter 6

Capital Gains Tax

43. Capital gains: rate of charge.

44. Amendment of references to “Irish currency” in certain provisions of Principal Act.

45. Amendment of section 29 (chargeable persons) of Principal Act.

46. Amendment of section 541C (tax treatment of certain venture fund managers) of Principal Act.

47. Amendment of section 599 (disposals within family of business or farm) of Principal Act.

48. Relief for farm restructuring.

PART 2

Excise

49. Rates of tobacco products tax.

50. Amendment of Chapter 1 (mineral oil tax) of Part 2 of Finance Act 1999.

51. Relief for qualifying road transport operators.

52. Amendment of Chapter 1 (interpretation, liability and payment) of Part 2 of Finance Act 2001.

53. Amendment of section 109B (interpretation (Chapter 2A)) of Finance Act 2001.

54. Amendment of Chapter 4 (powers of officers) of Part 2 of Finance Act 2001.

55. Amendment of Chapter 5 (miscellaneous) of Part 2 of Finance Act 2001.

56. Amendment of Chapter 3 (tobacco products tax) of Part 2 of Finance Act 2005.

57. Amendment of Chapter 1 (betting duty) of Part 2 of Finance Act 2002.

58. Rates of alcohol products tax.

59. Amendment of Chapter 1 (electricity tax) of Part 2 of Finance Act 2008.

60. Amendment of Chapter 2 (natural gas carbon tax) of Part 3 of Finance Act 2010.

61. Amendment of Chapter 3 (solid fuel carbon tax) of Part 3 of Finance Act 2010.

62. Amendment of section 130 (interpretation) of Finance Act 1992.

63. Amendment of section 132 (charge of excise duty) of Finance Act 1992.

64. Amendment of section 135C (remission or repayment in respect of vehicle registration tax, etc.) of Finance Act 1992.

65. Amendment of section 135D (repayment of amounts of vehicle registration tax on export of certain vehicles) of Finance Act 1992.

66. Amendment of section 136 (authorisation of manufacturers, distributors and dealers and periodic payment of duty) of Finance Act 1992.

PART 3

Value-Added Tax

67. Interpretation (Part 3).

68. Receivers and liquidators.

69. Amendment of section 43 (vouchers, etc.) of Principal Act.

70. Amendment of section 59 (deduction for tax borne or paid) of Principal Act.

71. Amendment of section 64 (capital goods scheme) of Principal Act.

72. Amendment of section 80 (tax due on moneys received basis) of Principal Act.

73. Amendment of section 86 (special provisions for tax invoiced by flat-rate farmers) of Principal Act.

74. Amendment of section 120 (regulations) of Principal Act.

75. Amendment of Schedule 1 (exempt activities) and Schedule 3 (goods and services chargeable at the reduced rate) to Principal Act.

PART 4

Stamp Duties

76. Interpretation (Part 4).

77. Amendments relating to self-assessment provisions.

78. Land: special provisions.

79. Amendment of section 81AA (transfers to young trained farmers) of Principal Act.

80. Amendment of section 85 (certain loan capital and securities) of Principal Act.

81. Amendment of section 88 (certain stocks and marketable securities) and section 90 (certain financial services instruments) of Principal Act.

82. Amendment of section 123B (cash, combined and debit cards) of Principal Act.

83. Amendment of section 125A (levy on authorised insurers) of Principal Act.

PART 5

Capital Acquisitions Tax

84. Interpretation (Part 5).

85. Amendment of Schedule 2 (computation of tax) to Principal Act.

86. Amendment of section 51 (payment of tax and interest on tax) of Principal Act.

87. Amendment of section 57 (overpayment of tax) of Principal Act.

88. Amendment of section 74 (exemption of certain policies of assurance) of Principal Act.

89. Amendment of section 75 (exemption of certain investment entities) of Principal Act.

90. Amendment of section 85 (exemption relating to retirement benefits) of Principal Act.

PART 6

Miscellaneous

91. Interpretation (Part 6).

92. Assessing rules for direct taxes.

93. Professional services withholding tax.

94. Tax clearance certificates.

95. Returns of income, partnership returns and returns of profits: accounts information requirements.

96. Amendment of section 960E (collection of tax, issue of demands, etc.) of Principal Act.

97. Amendment of Part 33 (anti-avoidance) of Principal Act.

98. Amendment of section 886 (obligation to keep certain records) of Principal Act.

99. Provisions relating to exchanging information with tax authorities in certain other territories.

100. Personal Insolvency Act 2012: consequential amendments relating to tax.

101. Amendment of section 911 (valuation of assets) of Principal Act.

102. Amendment of section 851A (confidentiality of taxpayer information) of Principal Act.

103. Miscellaneous amendments: civil partners.

104. Amendment of Schedule 24A (arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax) to Principal Act.

105. Miscellaneous technical amendments in relation to tax.

106. Capital Services Redemption Account.

107. Care and management of taxes and duties.

108. Short title, construction and commencement.

SCHEDULE 1

Amendment of Assessing Rules Including Rules for Self- Assessment

PART 1

Amendment of Part 41A of the Taxes Consolidation Act 1997

PART 2

Other amendments of the Taxes Consolidation Act 1997

SCHEDULE 2

Miscellaneous Technical Amendments in relation to Tax

Acts Referred to

Number 8 of 2013

FINANCE ACT 2013

AN ACT TO PROVIDE FOR THE IMPOSITION, REPEAL, REMISSION, ALTERATION AND REGULATION OF TAXATION, OF STAMP DUTIES AND OF DUTIES RELATING TO EXCISE AND OTHERWISE TO MAKE FURTHER PROVISION IN CONNECTION WITH FINANCE INCLUDING THE REGULATION OF CUSTOMS.

[27th March, 2013]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: