Finance Act 2007
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SCHEDULE 4 Miscellaneous Technical Amendments in Relation to Tax | ||
1. The Taxes Consolidation Act 1997 is amended in accordance with the following provisions: | ||
(a) in section 21A(4A) by substituting the following for paragraph (ii): | ||
“(ii) the company made a claim for relief under Part 14.”; | ||
(b) in section 97(2F)(a)(v)(II) by substituting “ section 198 of the Social Welfare Consolidation Act 2005 ,” for “ section 179 of the Social Welfare (Consolidation) Act, 1993 ,”; | ||
(c) in section 194 by substituting “Part 4 of the Social Welfare Consolidation Act 2005 ,” for “Part IV of the Social Welfare (Consolidation) Act, 1993 ,”; | ||
(d) in section 200(2)(a) by substituting “Chapter 15, 18 or 19 of Part 2 of, or Chapter 4 or 6 of Part 3 of, the Social Welfare Consolidation Act 2005 ,” for “Chapter 12, 16 or 17 of Part II of, or Chapter 4 or 6 of Part III of, the Social Welfare (Consolidation) Act, 1993 ,”; | ||
(e) in section 201(2A)(b) (inserted by the Finance Act 2005 ) by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ” for “ section 223 of the Social Welfare (Consolidation) Act 1993 ”; | ||
(f) in section 206— | ||
(i) by substituting “Social Welfare Consolidation Act 2005” for “Social Welfare (Consolidation) Act, 1993”, and | ||
(ii) by substituting “section 9” for “section 7”; | ||
(g) in section 396B(1) in paragraph (b) of the definition of “relevant corporation tax” by deleting “of the Principal Act”; | ||
(h) in section 402(3)(a) by substituting “sections 396, 396A and 397” for “sections 396 and 397”; | ||
(i) in section 403(1)(d) by deleting the following as part of subparagraph (ii) and inserting it at the end of paragraph (d) of section 403(1) as part of that paragraph: | ||
“then, subject to section 80A(2)(c), income from the company’s trade of leasing shall be treated as including— | ||
(A) income from the activities referred to in subparagraph (ii), and | ||
(B) chargeable gains on the disposal of machinery or plant acquired by the company in the course of its leasing trade; and for this purpose the amount of such a gain shall be computed without regard to any adjustment made under section 556(2).”; | ||
(j) in section 404(1)(b)(iv) by substituting “shall be treated as if they were separate accounting periods, and” for “shall be treated as if they were separate accounting periods,”; | ||
(k) in section 420B(1) in paragraph (b) of the definition of “relevant corporation tax” by deleting “of the Principal Act”; | ||
(l) in section 466(1) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”; | ||
(m) in section 466A— | ||
(i) in subsection (1), in paragraph (a) of the definition of “dependent person” by substituting “Part 4 of the Social Welfare Consolidation Act 2005 ,” for “Part IV of the Social Welfare (Consolidation) Act, 1993 ,”, and | ||
(ii) in subsection (6)(b)— | ||
(I) in subparagraph (i) by substituting “Chapter 14 of Part 2 of the Social Welfare Consolidation Act 2005 ,” for “Chapter 11A (inserted by the Social Welfare Act, 2000 ) of Part II of the Social Welfare (Consolidation) Act, 1993 ,”, and | ||
(II) in subparagraph (ii) by substituting “Chapter 8 of Part 3 of that Act.” for “Chapter 10 of Part III of that Act.”; | ||
(n) in section 470A, in the definition of “PPS Number” in subsection (1) (inserted by the Finance Act 2001 ), by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ;” for “ section 223 of the Social Welfare (Consolidation) Act, 1993 ;”; | ||
(o) in section 472(1)(a), in the definition of “specified employed contributor”— | ||
(i) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,” and | ||
(ii) in subparagraph (i) by substituting “section 12(1)(b) of that Act,” for “section 9(1)(b) of that Act,”; | ||
(p) in section 472A(1)— | ||
(i) in paragraph (a)— | ||
(I) by substituting “ ‘the Act of 2005’ means the Social Welfare Consolidation Act 2005 ;” for “ ‘the Act of 1993’ means the Social Welfare (Consolidation) Act, 1993 ;”, | ||
(II) in the definition of “continuous period of unemployment” by substituting “section 141(3) of the Act of 2005;” for “section 120(3) of the Act of 1993;”, and | ||
(III) in the definition of “qualifying individual”— | ||
(A) in subparagraph (i)(I)(A) by substituting “Chapter 12 of Part 2 of the Act of 2005,” for “Chapter 9 of Part II of the Act of 1993,”, | ||
(B) in subparagraph (i)(I)(B) by substituting “Chapter 2 of Part 3 of the Act of 2005,” for “Chapter 2 of Part III of the Act of 1993,”, and | ||
(C) in subparagraph (i)(I)(C) by substituting “Chapter 7 of Part 3 of the Act of 2005,” for “Chapter 9 of Part III of the Act of 1993,”, | ||
and | ||
(ii) in paragraph (b)(i)(IV) by substituting “paragraph (h) or (i), respectively, of section 141(6) of the Social Welfare Consolidation Act 2005 ,” for “paragraph (g) or (h), respectively, of section 120(5) of the Social Welfare (Consolidation) Act, 1993 ,”; | ||
(q) in section 511 in subsection (1)(a)(ii) and paragraphs (a)(ii)(II) and (b)(iii)(II) of subsection (3) by substituting “Social Welfare Consolidation Act 2005” for “Social Welfare (Consolidation) Act, 1993”, in each place where it occurs; | ||
(r) in section 527(3)(c) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”; | ||
(s) in section 697A(1) (inserted by the Finance Act 2002 ), in the definition of “tonnage tax activities”, by substituting “paragraphs (a) to (g) and paragraphs (i) and (j)” for “paragraphs (a) to (j) and paragraph (m)”; | ||
(t) in section 697K(3) (inserted by the Finance Act 2002 ) by substituting “section 697H.” for “sections 697H and 697I or to income that is relevant shipping income by virtue of paragraph (m) of the definition of “relevant shipping income”.”; | ||
(u) in section 730E(3A)(e) (inserted by the Finance Act 2001 ) by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ” for “ section 223 of the Social Welfare (Consolidation) Act, 1993 ”; | ||
(v) in section 730G (inserted by the Finance Act 2000 ) by substituting the following for subsection (5): | ||
“(5) Where— | ||
(a) any item has been incorrectly included in a return as appropriate tax, the inspector may make such assessments, adjustments or set-offs as may in his or her judgement be required for securing that the resulting liabilities to tax, including interest on unpaid tax, whether of the assurance company making the return or of any other person, are in so far as possible the same as they would have been if the item had not been included, or | ||
(b) any item has been correctly included in a return, but within one year of the making of the return the assurance company proves to the satisfaction of the Revenue Commissioners that it is just and reasonable that an amount of appropriate tax (included in the return) which has been paid, should be repaid to the assurance company, such amount may be repaid to the assurance company.”; | ||
(w) in section 739F(5)(a) (inserted by the Finance Act 2001 ) by substituting “liabilities to tax” for “liabilities”; | ||
(x) in section 771(1) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”; | ||
(y) in section 784C(4)(b) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”; | ||
(z) in section 787A, in the definition of “PPS Number” in subsection (1) (inserted by the Pensions (Amendment) Act, 2002 ), by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ;” for “ section 223 of the Social Welfare (Consolidation) Act, 1993 ;”; | ||
(aa) in section 787M, in the definition of “PPS Number” in subsection (1) (inserted by the Finance Act 2005 ), by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ;” for “ section 223 of the Social Welfare (Consolidation) Act 1993 ;”; | ||
(ab) in section 848AE(1)(e) by substituting “section 848AG” for “section 848G”; | ||
(ac) in section 848B, in the definition of “PPS Number” in subsection (1) (inserted by the Finance Act 2001 ), by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ;” for “ section 223 of the Social Welfare (Consolidation) Act, 1993 ;”; | ||
(ad) in section 862 by substituting “a Second Secretary General” for “a Deputy Secretary”; | ||
(ae) in section 898B, in the definition of “PPS number” in subsection (1) (inserted by the Finance Act 2004 ), by substituting “ section 262 of the Social Welfare Consolidation Act 2005 ;” for “ section 223 of the Social Welfare (Consolidation) Act 1993 ;”; | ||
(af) in section 898N (inserted by the Finance Act 2004 )— | ||
(i) in subsection (2) by substituting “return” for “report”, and | ||
(ii) in subsection (4) by substituting “return” for “report” in both places where it occurs; | ||
(ag) in section 934(2)(a) by substituting the following for subparagraph (ii): | ||
“(ii) any person who has been admitted a member of the Irish Taxation Institute.”; | ||
(ah) in Schedule 2, in paragraph 14(1) of Part 4— | ||
(i) by substituting “the appropriate officer” for “the inspector”, and | ||
(ii) by substituting “officer” for “inspector”; | ||
and | ||
(ai) in Schedule 12A, in the definition of “specified age” in paragraph 1(1), by substituting “Social Welfare Consolidation Act 2005” for “Social Welfare (Consolidation) Act, 1993”. | ||
2. The Capital Acquisitions Tax Consolidation Act 2003 is amended in accordance with the following provisions: | ||
(a) in section 25— | ||
(i) in subsection (1) by substituting “section 46(2)” for “section 21(e)”, and | ||
(ii) in subsection (2) by substituting “section 46(2)” for “section 21(e)”; | ||
(b) in section 45A(4)(a) by deleting “section 21(e) or”; and | ||
(c) in section 49(6A)(b) by deleting “a return within the meaning of section 21(e) or”. | ||
3. The Value-Added Tax Act 1972 is amended in section 11(3)(c)(iii) by substituting “relatively small amount” for “minimum amount”. | ||
4. Chapter 1 of Part 2 of the Finance Act 1999 is amended in section 94(1), in the definition of “producing”, by substituting “subjecting to a specific process within the meaning of Additional Note 4 to Chapter 27 of the combined nomenclature (as referred to in paragraph 5 of Article 2 of the Directive)” for “subjecting to a specific process within the meaning of paragraph 1 of Article 5 of the Directive”. | ||
5. The Finance Act 2001 is amended— | ||
(a) in section 96 (as amended by the Finance Act 2005 ), in the definition of “tobacco products” by substituting “paragraph (c)” for “paragraph (b)”, and | ||
(b) in section 124A (inserted by the Finance Act 2003 ), in subsection (1)(b)(ii) (as amended by the Finance Act 2004 ), by substituting “Chapter 3 of Part 2 of the Finance Act 2005 ” for “the Finance (Excise Duty on Tobacco Products) Act 1977 ”. | ||
6. (a) As respects paragraph 1 — | ||
(i) subparagraphs (a), (g) to (k), (s) and (t) apply to accounting periods ending on or after 1 January 2007, | ||
(ii) subparagraphs (b) to (f), (l) to (r), (u), (x) to (aa), (ac) to (ae), (ag) and (ai) have effect as on and from the passing of this Act, | ||
(iii) subparagraphs (v), (w), (af) and (ah) have effect as on and from 1 January 2007, and | ||
(iv) subparagraph (ab) is deemed to have come into force and have taken effect as on and from 1 January 2006. | ||
(b) Paragraph 2 is deemed to have come into force and have taken effect as respects the year 2006 and subsequent years. | ||
(c) Paragraph 3 has effect as on and from the passing of this Act. | ||
(d) Paragraph 4 is deemed to have come into force and have taken effect as on and from 27 October 2003. | ||
(e) As respects paragraph 5 — | ||
(i) subparagraph (a) is deemed to have come into force and have taken effect as on and from 25 March 2005, and | ||
(ii) subparagraph (b) is deemed to have come into force and have taken effect as on and from 1 July 2006. |