Taxes Consolidation Act, 1997
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Certain income arising to specified non-commercial state-sponsored bodies. [FA94 s32(1),(2),(3) and (4)] |
227.—(1) In this section, “non-commercial state-sponsored body” means a body specified in Schedule 4 . | |
(2) For the purposes of this section, the Minister for Finance may by order amend Schedule 4 by the addition to that Schedule of any body or the deletion from that Schedule of any body standing specified. | ||
(3) Where an order is proposed to be made under subsection (2), a draft of the order shall be laid before Dáil Éireann and the order shall not be made until a resolution approving of the draft has been passed by Dáil Éireann. | ||
(4) Notwithstanding any provision of the Tax Acts other than the provisions (apart from section 261 (c)) of Chapter 4 of Part 8 , income arising to a non-commercial state-sponsored body— | ||
(a) which but for this section would have been chargeable to tax under Case III, IV or V of Schedule D, and | ||
(b) from the date that such body was incorporated under the Companies Acts, 1963 to 1990, or was established by or under any other enactment, | ||
shall be disregarded for the purposes of the Tax Acts; but a noncommercial state-sponsored body— | ||
(i) which has paid income tax or corporation tax shall not be entitled to repayment of that tax, and | ||
(ii) shall not be treated as— | ||
(I) a company within the charge to corporation tax in respect of interest for the purposes of paragraph (f) of the definition of “relevant deposit” in section 256 , or | ||
(II) a person to whom section 267 applies. |