Finance Act, 1992
Amendment of section 143 (return of profits) or Corporation Tax Act, 1976. |
247.— Section 143 (as amended by section 54 of the Finance Act, 1990 ) of the Corporation Tax Act, 1976 , is hereby amended, as respects any accounting period ending on or after the 1st day of April, 1992— | |
(a) by the insertion of the following paragraph after paragraph (b) of subsection (1): | ||
“(bb) all amounts of tax credits which are recoverable from the company under the provisions of sections 25 (5) and 26 (4),”, | ||
(b) by the insertion after subsection (1) of the following subsection: | ||
“(1A) An event which, apart from paragraph 2 (2) of Schedule 2 to the Capital Gains Tax Act, 1975 , as applied by paragraph 4 or 5 of that Schedule, would constitute the disposal of an asset giving rise to a chargeable gain or an allowable loss under the provisions of the Capital Gains Tax Acts and this Act shall, for the purposes of this section, constitute such a disposal.”, | ||
and | ||
(c) by the substitution in subsection (6) of “Subparagraphs (3) and (4), and subparagraph (4A) (b) (inserted by the Finance Act, 1992), of paragraph 3 of Schedule 4 to the Capital Gains Tax Act, 1975 ” for “Paragraphs 3 (3) and (4) of Schedule 4 to the Capital Gains Tax Act, 1975 ”, | ||
and the said subsection (6), as so amended, is set out in the Table to this section. | ||
TABLE | ||
(6) Subparagraphs (3) and (4), and subparagraph (4A) (b) (inserted by the Finance Act, 1992), of paragraph 3 of Schedule 4 to the Capital Gains Tax Act, 1975 (power to demand information about the acquisition of assets), shall apply in relation to a notice under this section as they apply in relation to a notice under any of the provisions of the Income Tax Acts, as applied in relation to capital gains tax by the said paragraph 3. |