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Amendment of Part 18 of Principal Act (payments to subcontractors in certain industries)
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17. Part 18 of the Principal Act is amended—
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(a) in section 530(1) by inserting the following definition:
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‘unreported payment notification’ means a notification to the Revenue Commissioners of a relevant payment which has not been made in accordance with section 530C and where a deduction authorisation has not been issued in accordance with section 530D;”,
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and
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(b) in section 530F—
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(i) by substituting the following for subsection (2):
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“(2) A principal to whom section 530A applies who makes a relevant payment to a subcontractor in circumstances other than those referred to in subsection (1) shall, without prejudice to section 1078, be liable to a penalty of—
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(a) 35 per cent of the relevant payment, where the person to whom the relevant payment was made was a subcontractor who has not had a determination made by the Revenue Commissioners under section 530I,
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(b) 20 per cent of the relevant payment, where the person to whom the relevant payment was made was a subcontractor who has had a determination made by the Revenue Commissioners under section 530I and where neither section 530G nor section 530H applies to the subcontractor concerned,
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(c) 10 per cent of the relevant payment, where the person to whom the relevant payment was made was a subcontractor to whom section 530H applies, and
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(d) 3 per cent of the relevant payment, where the person to whom the relevant payment was made was a subcontractor to whom section 530G applies.”,
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(ii) by substituting the following for subsection (3):
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““(3) (a) Where subsection (2) applies, a principal shall submit an unreported payment notification to the Revenue Commissioners.
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(b) The Revenue Commissioners shall make regulations for the purposes of this subsection and such regulations may—
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(i) specify the manner by which principals shall submit an unreported payment notification to the Revenue Commissioners, and
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(ii) provide for the details to be supplied to the Revenue Commissioners by a principal in relation to an unreported payment notification.”,
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and
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(iii) by deleting subsection (6).
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