Finance Act, 2002
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SCHEDULE 6 | ||
Miscellaneous Technical Amendments in Relation to Tax | ||
1. The Value-Added Tax Act, 1972 , is amended in accordance with the following provisions: | ||
(a) section 11(3) is amended by substituting “40 cent” for “40 cents” (inserted by the Finance Act, 2001 ), | ||
(b) section 12 is amended in subsection (1)(b)(ii) (inserted by the Finance Act, 1987 ) by deleting “(b), (c) or”, | ||
(c) section 12C (inserted by the Finance Act, 1999 ) is amended in subsections (1A), (1B) and (1B)(f) (inserted by the Finance Act, 2000 ) by substituting “3(5)(c) or (d)” for “3(5)(c)”, | ||
(d) section 19 is amended in subsection (3)(aa)(vii) by substituting “fourteen” for “twenty-one”, and | ||
(e) the First Schedule is amended by substituting the following for paragraph (i)(g)(I): | ||
“(i) (g) (I) a collective investment undertaking as defined in section 172A of the Taxes Consolidation Act, 1997 (as amended by section 59 of the Finance Act, 2000 ), or”. | ||
2. The Capital Acquisitions Tax Act, 1976 , is amended in accordance with the following provisions: | ||
(a) in section 6(2), by substituting “subsection (1)(d)” for “subsection (1)(c)”, and | ||
(b) in section 31(6), by substituting “sections 6(1)(d) and 12(1)(c)” for “sections 6(1)(c) and 12(1)(b)”. | ||
3. The Taxes Consolidation Act, 1997 , is amended in accordance with the following provisions: | ||
(a) in section 116(3)(b), by substituting “€1,905” for “£1,500”, | ||
(b) in section 121(6)(c), by substituting “Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(c) in section 126(7)(a), by substituting “Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(d) in section 187(2)(b), by substituting “subsections (1)(b), (2) and (3) of that section.” for “subsections (1)(b), (2), (3) and (5) of that section.”, | ||
(e) in section 244(1), by substituting the following definition for the definition of “dependent relative”: | ||
“dependent relative” in relation to an individual, means any of the persons mentioned in paragraph (a) or (b) of subsection (2) of section 466 in respect of whom the individual is entitled to a tax credit under that section.”, | ||
(f) in section 372D(3A)(a), by substituting “qualifying street” for “designated street”, | ||
(g) in section 434(5) (as amended by the Finance Act, 2000 )— | ||
(i) in paragraph (a) by substituting the following for subparagraph (ii): | ||
“(ii) an amount equal to the aggregate of the amounts of estate income and investment income taken into account in computing the income of the company for the accounting period,”, | ||
and | ||
(ii) in paragraph (b) by substituting the following for subparagraph (i): | ||
“(i) an amount equal to the sum of the amounts specified in subparagraphs (i) and (ii) of paragraph (a),”, | ||
(h) in section 470A(7)(a)(i)(II), by substituting “earlier” for “later”, | ||
(i) in section 472(2)(a)(ii), by substituting “Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(j) in section 472A(1)(a), in the definition of “qualifying child” by substituting “subsections (4) and (5)” for “subsections (4) and (6)”, | ||
(k) in section 481(6), by substituting “€250” for “£200”, | ||
(l) in section 784A(4)(c)(ii)(II), by substituting “Regulation 22(2)(b)(ii) of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Regulation 25(2)(b) of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(m) in section 826(1), by substituting “this section and section 835, the arrangements shall, notwithstanding any enactment” for “this section and sections 168 and 835, the arrangements shall, notwithstanding any enactment other than section 168”, | ||
(n) in section 903(1), in the definition of “records” by substituting “Regulation 20 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “regulation 22 of the Income Tax (Employment) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(o) in section 959(2), by substituting “that assessment or amended assessment” for “and that assessment or amended assessment”, | ||
(p) in section 987— | ||
(i) in subsections (1) and (1A), by substituting “Regulation 31 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Regulation 35 of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )” in both places where it occurs, and | ||
(ii) in subsection (4)(c), by substituting “Regulation 7(4) of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “regulation 8(4) of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(q) in section 988— | ||
(i) in subsection (1), by substituting “Regulation 7 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “regulation 8 of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, and | ||
(ii) in subsection 3(a), by substituting “Regulation 28” for “regulation 31”, | ||
(r) in section 990— | ||
(i) in subsection (1A)(a)(ii), by substituting “Regulation 31 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Regulation 35 of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, and | ||
(ii) in subsection (2), by substituting “Regulation 31 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Regulation 35 of the Income Tax (Employment) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(s) in section 991A(a), by substituting “Regulation 29 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Regulation 31A (inserted by the Income Tax (Employments) Regulations, 1989 ( S.I. No. 58 of 1989 )) of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, | ||
(t) in section 995(a)(i), by substituting— | ||
(i) “Regulation 29 of the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 )” for “Regulation 31A of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 )”, and | ||
(ii) “Regulation 29 of those Regulations” for “regulation 31A of those Regulations”, | ||
(u) in section 1022(9) by substituting “performed or discharged” for “performed or authorised”, | ||
(v) in section 1024(2)(a)— | ||
(i) in subparagraph (ii), by substituting “subsection (3)” for “subsection (4)”, | ||
(ii) in subparagraph (iii), by substituting “section 465(3)” for “section 465(4)”, | ||
(iii) in subparagraph (ix), by substituting “473A” for “474, 474A, 475, 475A”, and | ||
(iv) by substituting the following for subparagraph (xa): | ||
“(xa) relief under section 848A(7), to the husband and wife according as he or she made the relevant donation giving rise to the relief;”, | ||
(w) in section 1025(4)(d), by substituting “section 465(5)” for “section 465(7)”, | ||
(x) in Schedule 26A, in paragraph 3(c) of Part 3, by substituting “paragraph 2” for “subsection (2)”. | ||
4. The Stamp Duties Consolidation Act, 1999 , is amended in section 79(3) by substituting the following for paragraphs (a), (b) and (c): | ||
“(a) references to company were references to body corporate, | ||
(b) references to companies were references to bodies corporate, and | ||
(c) references to ordinary share capital were references to issued share capital.”. | ||
5. The Finance Act, 2001 , is amended in accordance with the following provisions: | ||
(a) in section 55(b), by substituting “‘Subsections (2) and (4)’ of ‘Subsections (2) to (4)’” for “ ‘Subsections 2 and 4’ of ‘Subsections 2 to 4’”, | ||
(b) in section 70(2) by substituting “Subsection (1) shall” for “This section shall”, | ||
(c) in section 71(2) by substituting “Subsection (1) shall” for “This section shall”, | ||
(d) in section 74(2) by substituting “Subsection (1) shall” for “This section shall”, | ||
(e) in section 119(3), by substituting “section” for “subsection”, | ||
(f) in section 232 by substituting the following for subsection (2): | ||
“(2) (a) In paragraph (b) chargeable period has the same meaning as in section 321(2) of the Principal Act. | ||
(b) Paragraphs (b), (c) and (d) of subsection (1) shall apply as respects any chargeable period commencing on or after 15 February 2001. | ||
(c) Paragraphs (a) and (e) of subsection (1) shall apply as on and from 15 February 2001.”, | ||
(g) in section 240(2)(l)(vi), by substituting “section 494(2)” for “section 494(1)”, | ||
(h) in Schedule 1— | ||
(i) in paragraph 1(p), by substituting “paragraph (b)” for “paragraph (a)”, and | ||
(ii) in paragraph 2(g), by substituting “subsection (1)” for “subsection (2)”, | ||
and | ||
(i) in Schedule 5, in Part 3, under “ Finance Act, 1992 (No. 9 of 1992) (as amended):”, by substituting “section 99(1)” for “section 99(3)”. | ||
6. (a) As respects paragraph 1— | ||
(i) subparagraph (a) shall be deemed to have come into force and take effect as on and from 1 January 2002, and | ||
(ii) subparagraph (b), (c), (d) and (e) shall have effect as on and from the passing of this Act. | ||
(b) As respects paragraph 2— | ||
(i) subparagraph (a) shall have effect in relation to gifts taken on or after 1 December 1999, and | ||
(ii) subparagraph (b) shall have effect in relation to gifts or inheritances taken on or after 1 December 1999. | ||
(c) As respects paragraph 3— | ||
(i) subparagraphs (a), (b), (c), (i), (k), (l), (n), (p), (q), (r), (s) and (t) shall be deemed to have come into force and take effect as on and from 1 January 2002, | ||
(ii) subparagraphs (d), (e), (f), (h), (j), (v), (w) and (x) shall be deemed to have come into force and take effect as on and from 6 April 2001, | ||
(iii) subparagraph (g) applies as respects the accounting period ending on or after 14 March 2001, | ||
(iv) subparagraph (o) applies as respects the year of assessment 2002 and subsequent years of assessment and as respects accounting periods of companies ending on or after 1 January 2001, and | ||
(v) subparagraphs (m) and (u) shall have effect as on and from the passing of this Act. | ||
(d) Paragraph 4 shall have effect in relation to instruments executed on or after 15 December 1999. | ||
(e) As respects paragraph 5— | ||
(i) subparagraphs (a), (b), (c), (d), (f), (g) and (h) shall be deemed to have come into force and take effect as on and from 30 March 2001, | ||
(ii) subparagraph (e) shall have effect as on and from the passing of this Act, and | ||
(iii) subparagraph (i) shall be deemed to have come into force and take effect as on and from 1 January 2002. |