Income Tax (Amendment) Act, 1986

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Number 34 of 1986

INCOME TAX (AMENDMENT) ACT, 1986

ARRANGEMENT OF SECTIONS

Number 34 of 1986

INCOME TAX (AMENDMENT) ACT, 1986

AN ACT TO AMEND, WITH EFFECT FROM THE 6th DAY OF APRIL, 1973, CERTAIN PROVISIONS OF THE INCOME TAX ACT, 1967 . [19th December, 1986]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Amendment of section 110 (persons chargeable and extent of charge) of Income Tax Act, 1967.

1.—The Income Tax Act, 1967 , is hereby amended by the substitution, with effect from the 6th day of April, 1973, for section 110 of the following section:

“110.—(1) Tax under Schedule E shall be annually charged on every person having or exercising an office or employment of profit mentioned in that Schedule, or to whom any annuity, pension, or stipend, chargeable under that Schedule, is payable, in respect of all salaries, fees, wages, perquisites or profits whatsoever therefrom and shall be computed:—

(a) in the case of emoluments to which the provisions of Chapter IV of this Part are applied by section 125, on the amount of those emoluments for the year of assessment, and not otherwise;

(b) in the case of any office or employment held or exercised occasionally or intermittently in the State by a person who is not continuously resident there, on the amount of all such salaries, fees, wages, perquisites or profits whatsoever therefrom for the year of assessment;

(c) in any other case, subject to the provisions of section 111, on the amount of all such salaries, fees, wages, perquisites or profits whatsoever therefrom for the year preceding the year of assessment.

(2) In this section ‘emoluments’ means anything assessable to income tax under Schedule E.”.

Short title and construction.

2.—(1) This Act may be cited as the Income Tax (Amendment) Act, 1986.

(2) This Act shall be construed as one with the Income Tax Acts.