Finance Act, 2000

Permanent Page URL

Chapter 3

Dividend Withholding Tax

Dividend withholding tax.

30.—(1) Chapter 8A (inserted by the Finance Act, 1999 ) of Part 6 of the Principal Act is amended—

(a) in section 172A(1)(a)—

(i) by the insertion of the following definition after the definition of “American depositary receipt”:

“ ‘approved body of persons’ has the same meaning as in section 235;”,

(ii) by the insertion of the following definition after the definition of “collective investment undertaking”:

“ ‘designated broker’ has the same meaning as in section 838;”,

and

(iii) by the insertion of the following definition after the definition of “relevant territory”:

“ ‘special portfolio investment account’ has the same meaning as in section 838;”,

(b) in section 172B—

(i) by the insertion of the following after subsection (4):

“(4A) (a) A company resident in the State shall keep and retain for the longer of the following periods—

(i) a period of 6 years, or

(ii) a period which, in relation to the relevant distributions in respect of which the declaration or notification is made or, as the case may be, given, ends not earlier than 3 years after the date on which the company has ceased to make relevant distributions to the person who made the declaration or, as the case may be, gave the notification to the company,

all declarations (and accompanying certificates) and notifications (not being a notice given to the company by the Revenue Commissioners) which are made or, as the case may be, given to the company in accordance with this Chapter and Schedule 2A.

(b) A company resident in the State shall, on being so required by notice in writing given to the company by the Revenue Commissioners, make available to the Commissioners, within the time specified in the notice—

(i) all declarations, certificates or notifications referred to in paragraph (a) which have been made or, as the case may be, given to the company, or

(ii) such class or classes of such declarations, certificates or notifications as may be specified in the notice.

(c) The Revenue Commissioners may examine or take extracts from or copies of any declarations, certificates or notifications made available to the Commissioners under paragraph (b).”,

(ii) by the substitution of the following for subsection (6):

“(6) This section shall not apply to a relevant distribution where section 831(5) applies in relation to that distribution.”,

and

(iii) by the addition of the following after subsection (6):

“(7) This section shall not apply where a relevant distribution is made by a company resident in the State and that distribution is—

(a) a distribution made out of exempt profits within the meaning of section 140,

(b) a distribution made out of disregarded income within the meaning of section 141 and to which subsection (3)(a) of that section applies, or

(i) in subsection (2)—

(I) by the deletion in paragraph (d) of “or” and by the substitution in paragraph (e)(ii) of “Schedule 2A,” for “Schedule 2A.”, and

(II) by the addition of the following after paragraph (e):

“(f) an approved body of persons which—

(i) is entitled to exemption from income tax under Schedule F in respect of the relevant distribution by virtue of section 235(2), and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7A of Schedule 2A,

(g) a designated broker who—

(i) is receiving the relevant distribution as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account, and

(ii) has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 7B of Schedule 2A.”,

and

(ii) by the addition of the following after subsection (2):

“(3) For the purposes of subsection (2) and Schedule 2A—

(a) a collective investment undertaking which receives a relevant distribution, and

(b) a designated broker who receives a relevant distribution as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account, shall be treated as being beneficially entitled to the relevant distribution.”,

(d) in section 172D—

(i) by the substitution in subsection (3) of the following for paragraph (b):

“(b) a company which is not resident in the State and—

(i) is, by virtue of the law of a relevant territory, resident for the purposes of tax in the relevant territory, but is not under the control, whether directly or indirectly, of a person or persons who is or are resident in the State,

(ii) is under the control, whether directly or indirectly, of a person or persons who, by virtue of the law of a relevant territory, is or are resident for the purposes of tax in the relevant territory and who is or are, as the case may be, not under the control, whether directly or indirectly, of a person who is, or persons who are, not so resident, or

(iii) the principal class of the shares of which, or—

(I) where the company is a 75 per cent subsidiary of another company, of that other company, or

(II) where the company is wholly-owned by 2 or more companies, of each of those companies,

is substantially and regularly traded on one or more than one recognised stock exchange in a relevant territory or territories or on such other stock exchange as may be approved of by the Minister for Finance for the purposes of this Chapter,

and which has made a declaration to the relevant person in relation to the relevant distribution in accordance with paragraph 9 of Schedule 2A and in relation to which declaration each of the certificates referred to in clause (i), the certificate referred to in clause (ii) or, as the case may be, the certificate referred to in clause (iii), of subparagraph (f) of that paragraph is a current certificate (within the meaning of paragraph 2 of that Schedule) at the time of the making of the relevant distribution.”,

(ii) by the insertion of the following after subsection (3):

“(3A) For the purposes of subsection (3)(b)(i), ‘control’ shall be construed in accordance with subsections (2) to (6) of section 432 as if in subsection (6) of that section for ‘5 or fewer participators’ there were substituted ‘persons resident in the State’.”,

(iii) by the substitution in subsection (4) of “subsection (3)(b)(ii)” for “subsection (3)(b)(i)” in each place where it occurs,

(iv) in subsection (5)—

(I) by the substitution of “subsection (3)(b)(iii)(I)” for “subsection (3)(b)(ii)(II)”, and

(II) by the deletion of “subparagraph (iii) of”,

and

(v) by the addition of the following after subsection (5):

“(6) For the purposes of subsection (3)(b)(iii)(II), a company (in this subsection referred to as an ‘aggregated 100 per cent subsidiary’) shall be treated as being wholly-owned by 2 or more companies (in this subsection referred to as the ‘joint parent companies’) if and so long as 100 per cent of its ordinary share capital is owned directly or indirectly by the joint parent companies, and for the purposes of this subsection—

(a) subsections (2) to (10) of section 9 shall apply as those subsections apply for the purposes of that section, and

(b) sections 412 to 418 shall apply with any necessary modifications as those sections would apply for the purposes of Chapter 5 of Part 12—

(i) if section 411(1)(c) were deleted, and

(ii) if the following subsection were substituted for subsection (1) of section 412:

‘(1) Notwithstanding that at any time a company is an aggregated 100 per cent subsidiary (within the meaning assigned by section 172D(6)) of the joint parent companies (within the meaning assigned by that section), it shall not be treated at that time as such a subsidiary unless additionally at that time—

(a) the joint parent companies are between them beneficially entitled to not less than 100 per cent of any profits available for distribution to equity holders of the company, and

(b) the joint parent companies would be beneficially entitled between them to not less than 100 per cent of any assets of the company available for distribution to its equity holders on a winding-up.'.”,

(e) in section 172E—

(i) in subsection (3)—

(I) by the substitution of the following for paragraphs (a) and (b):

“(a) to accept, and to retain for the longer of the following periods—

(i) a period of 6 years, or

(ii) a period which, in relation to the relevant distributions in respect of which the declaration or notification is made or, as the case may be, given, ends not earlier than 3 years after the date on which the intermediary has ceased to receive relevant distributions on behalf of the person who made the declaration or, as the case may be, gave the notification to the intermediary,

all declarations (and accompanying certificates) and notifications (not being a notice given to the intermediary by the Revenue Commissioners) which are made or, as the case may be, given to the intermediary in accordance with this Chapter and Schedule 2A,

(b) on being so required by notice in writing given to the intermediary by the Revenue Commissioners, to make available to the Commissioners, within the time specified in the notice—

(i) all declarations, certificates or notifications referred to in paragraph (a) which have been made or, as the case may be, given to the intermediary, or

(ii) such class or classes of such declarations, certificates or notifications as may be specified in the notice,”,

and

(II) by the substitution of the following for paragraph (f):

“(f) to provide to the Revenue Commissioners, not later than 3 months after the end of the first year of the operation of the agreement by the intermediary, a report on the intermediary's compliance with the agreement in that year, which report shall be signed by—

(i) if the intermediary is a company, the auditor of the company, or

(ii) if the intermediary is not a company, a person who, if the intermediary were a company, would be qualified to be appointed auditor of the company,

and thereafter, on being required by notice in writing given to the intermediary by the Revenue Commissioners, to provide to the Commissioners, within the time specified in the notice, a similar report in relation to such other period of the operation of the agreement by the intermediary as may be specified in the notice,”,

(ii) by the insertion of the following after subsection (3):

“(3A) The Revenue Commissioners may examine or take extracts from or copies of any declarations, certificates or notifications made available to the Commissioners under subsection (3)(b).”,

and

(iii) by the addition of the following after subsection (7):

“(8) Without prejudice to the operation of subsection (6), the authorisation by the Revenue Commissioners of an intermediary as a qualifying intermediary for the purposes of this Chapter shall cease to have effect on the day before the seventh anniversary of the date from which such authorisation applied; but this shall not prevent—

(a) the intermediary and the Revenue Commissioners from agreeing to renew the qualifying intermediary agreement entered into between them in accordance with subsection (3) or to enter into a further such agreement, and

(b) a further authorisation by the Revenue Commissioners of the intermediary as aqualifying intermediary for the purposes of this Chapter.”,

(f) in section 172F—

(i) in subsection (3)—

(I) by the substitution in paragraph (e) of “For the purposes of this section, but subject to paragraphs (g) and (h)” for “For the purposes of paragraph (d)”,

(II) by the substitution in paragraph (e)(v) of “by way of notice in writing or in electronic format” for “by way of notice in writing given in accordance with subsection (1)” and “Liable Fund, and” for “Liable Fund,”,

(III) by the substitution of the following for subparagraphs (vi) and (vii) of paragraph (e):

“(vi) enters into an agreement with the qualifying intermediary or further specified intermediary, as the case may be, under the terms of which it agrees that if and when required to comply with subsection (7A) it will do so.”,

and

(IV) by the addition of the following after paragraph (f):

“(g) Notwithstanding paragraph (e), where the Revenue Commissioners are satisfied that an intermediary, being a specified intermediary or other specified intermediary referred to in subsection (7A), has failed to comply with that subsection—

(i) the Commissioners may, by notice in writing given to the intermediary, notify it that it shall cease to be treated as a specified intermediary for the purposes of this section from such date as may be specified in the notice, and

(ii) notwithstanding any obligations as to secrecy or other restriction upon disclosure of information imposed by or under statute or otherwise, the Commissioners may make available to any qualifying intermediary (being a depositary bank holding shares in trust for, or on behalf of, the holders of American depositary receipts) or specified intermediary a copy of such notice.

(h) Where subsequently the Revenue Commissioners are satisfied that the intermediary has furnished the information required under subsection (7A) and will in future comply with that subsection if and when requested to do so, the Commissioners may, by further notice in writing given to the intermediary, revoke the notice given to the intermediary under paragraph (g) from such date as may be specified in the further notice, and a copy of that further notice shall be given to any person to whom a copy of the notice under paragraph (g) was given.”,

(ii) by the substitution of the following for subsection (7):

“(7) (a) A qualifying intermediary shall, on being so required by notice in writing given to the qualifying intermediary by the Revenue Commissioners, make a return to the Commissioners, within the time specified in the notice (which shall not be less than 30 days) and as respects such year of assessment as may be specified in the notice (being the year of assessment 1999-2000 or any subsequent year of assessment), showing—

(i) the name and address of—

(I) each company resident in the State from which the qualifying intermediary received, on behalf of another person, a relevant distribution made by that company in the year of assessment to which the return refers, and

(II) each other person from whom the qualifying intermediary received, on behalf of another person, an amount or other asset representing a relevant distribution made by a company resident in the State in the year of assessment to which the return refers,

(ii) the amount of each such relevant distribution,

(iii) the name and address of each person to whom such a relevant distribution, or an amount or other asset representing such a relevant distribution, has been given by the qualifying intermediary, and

(iv) the name and address of each person referred to in subparagraph (iii) in respect of whom a declaration under section 172C(2) or 172D(3) has been received by the qualifying intermediary.

(b) A return required to be made by a qualifying intermediary under paragraph (a) may be confined to such class or classes of relevant distributions as may be specified in the notice given to the qualifying intermediary by the Revenue Commissioners under that paragraph.

(7A) (a) This subsection shall apply where a qualifying intermediary has been required to make a return to the Revenue Commissioners under subsection (7)(a) and a relevant distribution (or an amount or other asset representing a relevant distribution), the details of which are required to be included in that return, has been given by the qualifying intermediary to a specified intermediary.

(b) The qualifying intermediary shall, immediately on receipt of the notice referred to in subsection (7)(a), request the specified intermediary, by way of notice in writing or in electronic format, to notify the qualifying intermediary or the Revenue Commissioners of the name and address of each person to whom the specified intermediary gave such a distribution (or an amount or other asset representing such a distribution) and of the amount of each such distribution.

(c) The specified intermediary shall, within 21 days of the receipt of a notice under paragraph (b), furnish to the qualifying intermediary or, at the discretion of the specified intermediary, to the Revenue Commissioners, by way of notice in writing or in electronic format, the information required under that paragraph.

(d) Where the specified intermediary furnishes the information required under paragraph (b)—

(i) to the qualifying intermediary, the qualifying intermediary shall include that information in the return required to be made by it under subsection (7)(a), or

(ii) to the Revenue Commissioners, the specified intermediary shall, by way of notice in writing or in electronic format, immediately advise the qualifying intermediary of that factand the qualifying intermediary shall include in the return required to be made by it under subsection (7)(a) a statement to the effect that it has been so advised by the specified intermediary.

(e) If any person to whom a specified intermediary gave such a distribution (or an amount or other asset representing such a distribution) is another specified intermediary, the specified intermediary shall, immediately on the receipt of a notice under paragraph (b), request the other specified intermediary, by way of notice in writing or in electronic format, to notify the specified intermediary or the Revenue Commissioners of the name and address of each person to whom it gave such a distribution (or an amount or other asset representing such a distribution) and of the amount of each such distribution.

(f) The other specified intermediary shall, within 21 days of the receipt of a notice under paragraph (e), furnish to the specified intermediary or, at the discretion of the other specified intermediary, to the Revenue Commissioners, by way of notice in writing or in electronic format, the information required under that paragraph.

(g) Where the other specified intermediary furnishes the information required under paragraph (e)—

(i) to the specified intermediary, the specified intermediary shall, by way of notice in writing or in electronic format, immediately transmit that information to the person referred to in paragraph (d) (being the qualifying intermediary or the Revenue Commissioners, as the case may be) to whom it furnishes the information required under paragraph (b), and—

(I) if that person is the qualifying intermediary, the qualifying intermediary shall include that information in the return required to be made by it under subsection (7)(a), or

(II) if that person is the Revenue Commissioners, the specified intermediary shall, by way of notice in writing or in electronic format, immediately advise the qualifying intermediary of the fact that the informationrequired to be furnished by the other specified intermediary under paragraph (e) has been furnished to the specified intermediary and transmitted by the specified intermediary to the Revenue Commissioners in accordance with this paragraph and the qualifying intermediary shall include in the return to be made by it under subsection (7)(a) a statement to the effect that it has been so advised by the specified intermediary.

(ii) to the Revenue Commissioners, the other specified intermediary shall, by way of notice in writing or in electronic format, immediately advise the specified intermediary of that fact, the specified intermediary shall in turn, by way of similar notice, immediately advise the qualifying intermediary of that fact and the qualifying intermediary shall include in the return required to be made by it under subsection (7)(a) a statement to the effect that it has been so advised by the specified intermediary.

(h) Where, in accordance with this subsection, the specified intermediary or the other specified intermediary furnishes information to the Revenue Commissioners in electronic format, such format shall be agreed in advance with the Revenue Commissioners.”,

and

(iii) by the deletion in subsection (8) of “, not later than the 21st day of May following the year of assessment to which the return refers,”.

(g) in section 172G—

(i) in subsection (3)—

(I) by the substitution of the following for paragraphs (a) and (b):

“(a) to accept, and to retain for the longer of the following periods—

(i) a period of 6 years, or

(ii) a period which, in relation to the relevant distributions in respect of which the declaration or notification is made or, as the casemay be, given, ends not earlier than 3 years after the date on which the intermediary has ceased to receive relevant distributions on behalf of the person who made the declaration or, as the case may be, gave the notification to the intermediary,

(b) on being so required by notice in writing given to the intermediary by the Revenue Commissioners, to make available to the Commissioners, within the time specified in the notice—

(i) all declarations, certificates or notifications referred to in paragraph (a) which have been made or, as the case may be, given to the intermediary, or

(ii) such class or classes of such declarations, certificates or notifications as may be specified in the notice,”,

and

(II) by the substitution of the following for paragraph (g):

“(g) to provide to the Revenue Commissioners, not later than 3 months after the end of the first year of the operation of the agreement by the intermediary, a report on the intermediary's compliance with the agreement in that year, which report shall be signed by—

(i) if the intermediary is a company, the auditor of the company, or

(ii) if the intermediary is not a company, a person who, if the intermediary were a company, would be qualified to be appointed auditor of the company,

and”,

(ii) by the insertion of the following after subsection (3):

“(3A) The Revenue Commissioners may examine or take extracts from or copies of any declarations, certificates or notifications made available to the Commissioners under subsection (3)(b).”,

and

(iii) by the addition of the following after subsection (7):

“(8) Without prejudice to the operation of subsection (6), the authorisation by the Revenue Commissioners of an intermediary as an authorised withholding agent for the purposes of this Chapter shall cease to have effect on the day before the seventh anniversary of the date from which such authorisation applied; but this shall not prevent—

(a) the intermediary and the Revenue Commissioners from agreeing to renew the authorised withholding agent agreement entered into between them in accordance with subsection (3) or to enter into a further such agreement, and

(b) a further authorisation by the Revenue Commissioners of the intermediary as an authorised withholding agent for the purposes of this Chapter.”,

(h) in section 172K(1)—

(i) by the deletion in paragraph (f) of “and” and by the substitution in paragraph (g) of “refers, and” for “refers.”, and

(ii) by the addition of the following after paragraph (g):

“(h) in a case where section 172B has not applied to a relevant distribution by virtue of the operation of subsection (7) of that section, whether the relevant distribution is a distribution within paragraph (a), (b) or (c) of that subsection.”,

and

(i) by the insertion of the following section after section 172L:

“Deduction of dividend withholding tax on settlement of market claims.	172LA.—(1) In this section, ‘stockbroker’, means a member firm of the Irish Stock Exchange or of a recognised stock exchange in another territory.
	(2) For the purposes of this section, a market claim shall be deemed to have arisen in relation to a relevant distribution where—
	(a) a company resident in the State has made a relevant distribution to a person (in this section referred to as the ‘recorded owner’) on the basis of the information on the share register of the company at a particular date,
	(b) it subsequently transpires, as a result of an event (in this section referred to as the ‘specified event’), being—
	(i) the sale or purchase of. or
	(ii) the happening, or failure to happen, of another event in relation to,
	the shares or other securities in respect of which the relevant distribution was made, that another person (in this section referred to as the ‘proper owner’) had actually been entitled to receive the relevant distribution, and
	(c) a person (in this section referred to as an ‘accountable person’), being—
	(i) the relevant stockbroker who has acted for the recorded owner in the specified event, or
	(ii) if the recorded owner is a qualifying intermediary or an authorised withholding agent, that intermediary or agent,
	is obliged to pay the relevant distribution to the proper owner or, as may be appropriate, to the relevant stockbroker who has acted for the proper owner in the specified event, which action is in this section referred to as the ‘settlement of the market claim’.
	(3) Notwithstanding any other provision of this Chapter, where a market claim arises, then, if dividend withholding tax had not already been deducted out of the amount of the relevant distribution made by the company resident in the State to the recorded owner—
	(a) the accountable person shall, on the settlement of the market claim, deduct out of the amount of the relevant distribution dividend withholding tax in relation to the relevant distribution,
	(b) the proper owner or, as may be appropriate, the relevant stockbroker who has acted for the proper owner in the specified event shall allow such deduction on the receipt of the residue of the relevant distribution, and
	(c) the accountable person shall be acquitted and discharged of so much money as is represented by the deduction as if that amount of money had actually been paid to the proper owner or, as may be appropriate, to the relevant stockbroker who has acted for the proper owner in the specified event.
	(4) Where subsection (3) applies, the accountable person shall, on the settlement of the market claim, give the proper owner or, as may be appropriate, the relevant stockbroker who has acted for the proper owner in the specified event a statement in writing showing—
	(a) the name and address of the accountable person,
	(b) the name and address of the company which made the relevant distribution,
	(c) the amount of the relevant distribution, and
	(d) the amount of the dividend withholding tax deducted in relation to the relevant distribution.
	(5) Dividend withholding tax which is required to be deducted by the accountable person under subsection (3) shall be paid by the accountable person to the Collector-General within 14 days of the end of the month in which that tax was required to be so deducted, and the dividend withholding tax so due shall be payable without the making of an assessment, but dividend withholding tax which has become so due may be assessed on the accountable person if that tax or any part of it is not paid on or before the due date.
	(6) Dividend withholding tax which is required to be paid in accordance with subsection (5) shall be accompanied by a statement in writing from the accountable person making the payment showing—
	(a) the name and address of that accountable person,
	(b) the name and address of the company or companies which made the relevant distribution or distributions to which the payment relates, and
	(c) the amount of the dividend withholding tax included in the payment.
	(7) An accountable person shall, as respects each year of assessment (being the year of assessment 1999-2000 or any subsequent year of assessment) in which subsection (3) applied in relation to the accountable person and not later than the 21st day of May following that year of assessment, make a return to the Revenue Commissioners showing—
	(a) the name and address of the accountable person, and
	(b) the following details in relation to each market claim to which subsection (3) applied in that year:
	(i) the name and address of the company resident in the State which made the relevant distribution to which the market claim relates,
	(ii) the amount of the relevant distribution concerned, and
	(iii) the amount of the dividend withholding tax in relation to the relevent distribution deducted by the accountable person.
	(8) Subject to subsection (9), every return by an accountable person under subsection (7) shall be made in an electronic format approved by the Revenue Commissioners and shall be accompanied by a declaration made by the accountable person, on a form prescribed or authorised for that purpose by the Revenue Commissioners, to the effect that the return is correct and complete.
	(9) Where the Revenue Commissioners are satisfied that an accountable person does not have the facilities to make a return under subsection (7) in the format referred to in subsection (8), the return shall be made in writing in a form prescribed or authorised by the Revenue Commissioners and shall be accompanied by a declaration made by the accountable person, on a form prescribed or authorised for that purpose by the Revenue Commissioners, to the effect that the return is correct and complete.
	(10) (a) An accountable person shall keep and retain for a period of 6 years the accountable person’s documents and records relating to market claims arising from relevant distributions made by companies resident in the State.
	(b) An accountable person shall allow the Revenue Commissioners to inspect such documents and records and to verify theaccountable person’s compliance with this section in any other manner considered necessary by the Commissioners.”.

(2) Schedule 2A (inserted by the Finance Act, 1999 ) is amended—

(a) by the substitution in paragraph 2 of “paragraph 8(f) or 9(f)” for “paragraph 8(f) or subparagraph (f) or (g) of paragraph 9”,

(b) by the insertion of the following after paragraph 7:

“Declaration to be made by approved athletic or amateur sports body

7A. The declaration referred to in section 172C(2)(f)(ii) shall be a declaration in writing to the relevent person which—

(a) is made by the person (in this paragraph referred to as ‘the declarer’) beneficially entitled to the relevant distributions in respect of which the declaration is made,

(b) is signed by the declarer,

(d) declares that, at the time when the declaration is made, the person beneficially entitled to the relevant distribution is a person referred to in section 172C(2)(f)(i),

(e) contains the name and address of the person,

(f) contains a statement that, at the time when the declaration is made, the relevant distributions in respect of which the declaration is made will be applied for the sole purpose of promoting athletic or amateur games or sports and are so treated by the Revenue Commissioners,

(g) contains an undertaking by the declarer that, if the person mentioned in subparagraph (d) ceases to be an excluded person, the declarer will, by notice in writing, advise the relevant person in relation to the relevant distributions accordingly, and

(h) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 8A of Part 6.

Declaration to be made by designated stockbroker operating special portfolio investment account

7B. The declaration referred to in section 172C(2)(g)(ii) shall be a declaration in writing to the relevant person which—

(a) is made by the person (in this paragraph referred to as ‘the declarer’) beneficially entitled to the relevant distributions in respect of which the declaration is made,

(b) is signed by the declarer,

(d) declares that, at the time when the declaration is made, the person beneficially entitled to the relevant distribution is a person referred to in section 172C(2)(g)(i),

(e) contains the name and tax reference number of the person,

(f) contains a statement that, at the time when the declaration is made, the relevant distributions in respect of which the declaration is made will be applied as all or part of the relevant income or gains (within the meaning of section 838) of a special portfolio investment account and are so treated by the Revenue Commissioners,

(h) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 8A of Part 6.”,

“(ii) a notice in writing from the Revenue Commissioners stating that the Commissioners have noted the contents of the certificate referred to in clause (i),”,

and

(d) in paragraph 9—

(i) by the substitution of the following for subparagraph (f):

“(f) is accompanied by—

(i) a certificate given by the tax authority of the relevant territory in which the company is, by virtue of the law of that territory, resident for the purposes of tax certifying that the company is so resident in that territory, and a certificate signed by the auditor of the company certifying that in his or her opinion the company is not under the control (within the meaning of section 172D(3A)), whether directly or indirectly, of a person or persons who is or are resident in the State,

(ii) a certificate signed by the auditor of the company certifying that in his or her opinion the company is a company which is not resident in the State and is under the control (within the meaning of section 172D(4)(a)), whether directly or indirectly, of a person or persons who, by virtue of the law of a relevant territory, is or are resident for the purposes of tax in such a relevant territory and who is or are, as the case may be, not under the control (within the meaning of section 172D(4)(b)), whether directly or indirectly, of a person who is, or persons who are, not so resident, or

(iii) a certificate signed by the auditor of the company certifying that in his or her opinion the principal class of the shares of the company or—

(I) where the company is a 75 per cent subsidiary (within the meaning of section 172D(5)) of another company, of that other company, or

(II) where the company is wholly-owned (within the meaning of section 172D(6)) by 2 or more companies, of each of those companies,

and

(ii) by the deletion of subparagraph (g).

(3) Subsection (1) (i) shall apply as on and from 10 February 2000.

Finance Act, 2000 Permanent Page URL

Finance Act, 2000

Permanent Page URL