Finance Act 2005

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Amendment of section 1086 (publication of names of tax defaulters) of Taxes Consolidation Act 1997.

143.—(1) Section 1086 of the Taxes Consolidation Act 1997 is amended—

(a) in subsection (4)(c) by substituting “€30,000” for “€12,700”, and

(b) by inserting the following subsection after subsection (4):

“(4A) (a) In this subsection—

‘the consumer price index number’ means the All Items Consumer Price Index Number compiled by the Central Statistics Office;

‘the consumer price index number relevant to a year’ means the consumer price index number at the mid-December before the commencement of that year expressed on the basis that the consumer price index at mid-December 2001 was 100;

‘the Minister’ means the Minister for Finance.

(b) The Minister shall, in the year 2010 and in every fifth year thereafter, by order provide, in accordance with paragraph (c), an amount in lieu of the amount referred to in subsection (4)(c), or where such an order has been made previously, in lieu of the amount specified in the last order so made.

(c) For the purposes of paragraph (b) the amount referred to in subsection (4)(c) or in the last previous order made under the said paragraph (b), as the case may be, shall be adjusted by—

(i) multiplying that amount by the consumer price index number relevant to the year in which the adjustment is made and dividing the product by the consumer price index number relevant to the year in which the amount was previously provided for, and

(ii) rounding the resulting amount up to the next €1,000.

(d) An order made under this subsection shall specify that the amount provided for by the order—

(i) takes effect from a specified date, being 1 January in the year in which the order is made, and

(ii) does not apply to any case in which the specified liability referred to in paragraphs (c) and (d) of subsection (2) includes tax, the liability in respect of which arose before, or which relates to periods which commenced before, that specified date.”.

(2) Subsection (1)(a) shall not apply where the specified liability referred to in paragraphs (c) and (d) of subsection (2) of section 1086 of the Taxes Consolidation Act 1997 includes tax, the liability in respect of which arose before, or which relates to periods which commenced before, 1 January 2005.