Finance Act 2018
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Amendment of certain tax exemption provisions | ||
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60. (1) The Principal Act is amended— | ||
(a) in Part 7, by inserting the following section after section 218: | ||
“Certain income of Motor Insurers’ Bureau of Ireland | ||
218A. Notwithstanding any provision of the Corporation Tax Acts, income arising to the Motor Insurers’ Bureau of Ireland from investments made by it of moneys paid to the Motor Insurers’ Insolvency Compensation Fund under the Insurance Act 1964 (amended by the Insurance (Amendment) Act 2018 ), which income would but for this section have been chargeable to corporation tax under Case III or IV, as the case may be, of Schedule D, shall be exempt from corporation tax.”, | ||
(b) in section 220, by inserting the following paragraph after paragraph 8: | ||
“9. Limerick Twenty Thirty Strategic Development Designated Activity Company, registered on 7 July 2008 (registered number 459652).”, | ||
(c) in section 730D(2), by inserting the following paragraph after paragraph (b): | ||
“(ba) the life policy is an investment made by the Motor Insurers’ Bureau of Ireland of moneys paid to the Motor Insurers’ Insolvency Compensation Fund under the Insurance Act 1964 (amended by the Insurance (Amendment) Act 2018 ), and the Motor Insurers’ Bureau of Ireland has made a declaration to that effect to the assurance company,”, | ||
(d) in section 739D(6)— | ||
(i) in paragraph (kb), by substituting “undertaking,” for “undertaking, or”, and | ||
(ii) by inserting the following paragraph after paragraph (kb): | ||
“(kc) is the Motor Insurers’ Bureau of Ireland in respect of an investment made by it of moneys paid to the Motor Insurers’ Insolvency Compensation Fund under the Insurance Act 1964 (amended by the Insurance (Amendment) Act 2018 ), and the Motor Insurers’ Bureau of Ireland has made a declaration to that effect to the investment undertaking, or”, | ||
(e) in Schedule 4— | ||
(i) by inserting the following paragraph after paragraph 20: | ||
“20A. Child and Family Agency.”, | ||
(ii) by inserting the following paragraph after paragraph 79: | ||
“79A. National Transport Authority.”, | ||
(iii) by inserting the following paragraph after paragraph 91A: | ||
“91B. Sport Ireland.”, | ||
and | ||
(iv) by inserting the following paragraph after paragraph 99: | ||
“100. Western Development Commission.”, | ||
and | ||
(f) in Part 1 of Schedule 15— | ||
(i) by inserting the following paragraph after paragraph 44: | ||
“45. Limerick Twenty Thirty Strategic Development Designated Activity Company, registered on 7 July 2008 (registered number 459652).”, | ||
and | ||
(ii) by inserting the following paragraph after paragraph 45 (inserted by subparagraph (i)): | ||
“46. National Transport Authority.”. | ||
(2) (a) Paragraphs (b) and (f)(i) of subsection (1) are deemed to have come into force and have taken effect as on and from 1 January 2018. | ||
(b) Subsection (1)(e)(i) is deemed to have come into force and have taken effect as on and from 1 January 2014. | ||
(c) Paragraphs (e)(ii) and (f)(ii) of subsection (1) are deemed to have come into force and have taken effect as on and from 1 December 2009. | ||
(d) Subsection (1)(e)(iii) is deemed to have come into force and have taken effect as on and from 1 October 2015. | ||
(e) Subsection (1)(e)(iv) is deemed to have come into force and have taken effect as on and from 1 February 1999. |