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AN BILLE AIRGEADAIS 2010

FINANCE BILL 2010

Mar a ritheadh ag Dil ireann

As passed by Dil ireann

ARRANGEMENT OF SECTIONS

PART 1

Cost benefit analysis of tax expenditures

Section

1. Cost benefit analysis of tax expenditures.

PART 2

Income Levy, Income Tax, Corporation Tax and Capital GainsTax

Chapter 1

Interpretation

2. Interpretation (Part 2).

Chapter 2

Income Levy

3. Income levy.

Chapter 3

Income Tax

4. Amendment of section 122 (preferential loan arrangements)of Principal Act.

5. Cesser of certain reliefs.

6. Amendment of section 469 (relief for health expenses) ofPrincipal Act.

7. Amendment of section 244 (relief for interest paid on certainhome loans) of Principal Act.

8. Amendment of section 997A (credit in respect of taxdeducted from emoluments of certain directors) ofPrincipal Act.

[No. 9b of 2010]

Click here forExplanatory Memorandum

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9. Amendment of section 71 (foreign securities andpossessions) of Principal Act.

10. Amendment of section 825B (repayment of tax where earn-ings not remitted) of Principal Act.

11. Amendment of section 825A (reduction in income tax forcertain income earned outside the State) of Principal

Act.12. Amendment of section 477 (relief for service charges) of

Principal Act.

13. Amendment of section 216A (rent-a-room relief) of Princi-pal Act.

14. Amendment of section 667B (new arrangements for qualify-ing farmers) of Principal Act.

15. Amendment of section 384 (relief under Case V for losses)of Principal Act.

16. Retirement benefits.17. Amendment of section 128D (tax treatment of directors of

companies and employees who acquire restrictedshares) of Principal Act.

18. Information in respect of awards of shares.

19. Amendment of Schedule 11 (profit sharing schemes) to Prin-cipal Act.

20. Amendment of section 470B (age-related relief for healthinsurance premiums) of Principal Act.

21. Income tax: restriction on use of losses on approvedbuildings.

22. Amendment of Schedule 13 (accountable persons for pur-poses of Chapter 1 of Part 18) to Principal Act.

23. Limitation on amount of certain reliefs used by certain highincome individuals.

Chapter 4

Income Tax, Corporation Tax and Capital Gains Tax

24. Provisions relating to charities and donations to approvedbodies.

25. Amendment of Part 22 (provisions relating to dealing in ordeveloping land and disposals of development land) ofPrincipal Act.

26. Amendment of section 843A (capital allowances for build-ings used for certain childcare purposes) of PrincipalAct.

27. Mid-Shannon corridor tourism infrastructure investmentscheme.

28. Payment of tax by means of donation of heritage property.

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29. Payments to subcontractors in certain industries.

30. Amendment of section 731 (chargeable gains accruing to unittrusts) of Principal Act.

31. Amendment of Part 27 (unit trusts and offshore funds) ofPrincipal Act.

32. Amendment of section 1035A (relieving provision to section1035) of Principal Act.

33. Dividend withholding tax.

34. Amendment of section 175 (purchase of own shares byquoted company) of Principal Act.

35. Amendment of Part 3 (provisions relating to the Schedule Ccharge and government and other public securities) ofPrincipal Act.

36. Amendment of section 299 (allowances to lessees) of Princi-pal Act.

37. Amendment of Chapter 4 (interest payments by certaindeposit takers) of Part 8 of Principal Act.

38. Amendment of section 481 (relief for investment in films) ofPrincipal Act.

39. Specified financial transactions.

40. Interest payments to residents in relevant territories.

41. Credit for foreign tax.

42. Transfer pricing.Chapter 5

Corporation Tax

43. Intangible assets, etc.

44. Acceleration of wear and tear allowances for certain energy-efficient equipment.

45. Amendment of section 486C (relief from tax for certain start-up companies) of Principal Act.

46. Unilateral relief (royalty income).

47. Carry forward of unrelieved foreign tax.

48. Amendment of section 847 (tax relief for certain branchprofits) of Principal Act.

49. Dividends paid out of foreign profits.

50. Foreign dividends.

51. Assets transferred in course of scheme of reconstruction oramalgamation.

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52. Amendment of section 80A (taxation of certain short-termleases of plant and machinery) of Principal Act.

53. Amendment of section 402 (foreign currency: tax treatmentof capital allowances and trading losses of a company)of Principal Act.

54. Amendment of section 766 (tax credit for research and

development expenditure) of Principal Act.55. Tax treatment of certain royalties.

Chapter 6

Capital Gains Tax

56. Amendment of section 542 (time of disposal and acquisition)of Principal Act.

57. Amendment of section 590 (attribution to participators ofchargeable gains accruing to non-resident company) ofPrincipal Act.

58. Amendment of section 598 (disposals of business or farm onretirement) of Principal Act.

59. Restrictions on allowable losses.

60. Amendment of section 607 (Government and certain othersecurities) of Principal Act.

61. Amendment of section 611 (disposals to State, public bodiesand charities) of Principal Act.

62. Amendment of section 958 (date for payment of tax) of Prin-cipal Act.

63. Amendment of Schedule 15 (list of bodies for purposes ofsection 610) to Principal Act.

PART 3

Customs and Excise

Chapter 1

Mineral Oil Tax Carbon Charge

64. Mineral oil tax carbon charge.

65. Cesser of application of mineral oil tax to coal.

Chapter 2Natural Gas Carbon Tax

66. Definitions (Chapter 2).

67. Charging and rates of natural gas carbon tax.

68. Liability to pay natural gas carbon tax.

69. Registration of natural gas suppliers.

70. Returns and payment by natural gas suppliers.

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71. Reliefs from natural gas carbon tax.

72. Repayments of natural gas carbon tax.

73. Offence and penalty (Chapter 2).

74. Regulations (Chapter 2).

75. Care and management (Chapter 2).76. Commencement (Chapter 2).

Chapter 3

Solid Fuel Carbon Tax

77. Interpretation (Chapter 3).

78. Charging and rates of solid fuel carbon tax.

79. Liability to pay solid fuel carbon tax.

80. Registration of solid fuel suppliers.

81. Returns and payment by solid fuel suppliers.

82. Reliefs from solid fuel carbon tax.

83. Repayments of solid fuel carbon tax.

84. Offence and penalty (Chapter 3).

85. Regulations (Chapter 3).

86. Care and management (Chapter 3).

87. Commencement (Chapter 3).

Chapter 4

Miscellaneous

88. Rates of alcohol products tax.

89. Amendment of section 98A (relief for biofuel) of FinanceAct 1999.

90. Amendment of Chapter 1 (mineral oil tax) of Part 2 of Fin-ance Act 1999.

91. Amendment of Chapter 3 (tobacco products tax) of Part 2

of Finance Act 2005.92. Amendment of Chapter 1 (alcohol products tax) of Part 2 of

Finance Act 2003.

93. Amendment of Part 2 (consolidation and modernisation ofgeneral excise law) of Finance Act 2001.

94. Amendment of section 34 (amendments relative to penalties)of Finance Act 1963.

95. Section 186 (illegally importing) of Customs ConsolidationAct 1876 and penalties for offences.

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96. Amendment of section 3 (penalty for illegally exportinggoods) of Customs Act 1956.

97. Provision of information relating to persons, conveyancesand goods.

98. Amendment of section 102 (penalties for certain mineral oiltax offences) of Finance Act 1999.

99. Amendment of section 119 (penalties for certain exciseoffences) of Finance Act 2001.

100. Amendment of section 79 (penalties for certain alcohol prod-ucts tax offences) of Finance Act 2003.

101. Amendment of section 78 (penalties for certain tobaccoproducts tax offences) of Finance Act 2005.

102. Amendment of section 130 (interpretation) of Finance Act1992.

103. Amendment of section 130B (delegation of certain powers

of the Revenue Commissioners) of Finance Act 1992.104. Amendment of section 131 (registration of vehicles by

Revenue Commissioners) of Finance Act 1992.

105. Amendment of section 132 (charge of excise duty) of FinanceAct 1992.

106. Amendment of section 135 (temporary exemption fromregistration) of Finance Act 1992.

107. Repayment of amounts of vehicle registration tax in respectof the registration of certain new vehicles.

108. Remission or repayment in respect of vehicle registration taxon certain plug-in hybrid electric vehicles, certain elec-tric vehicles and certain electric motorcycles.

109. Authorisation of competent persons.

110. Amendment of section 141 (regulations) of Finance Act1992.

111. Return of motor insurance particulars.

PART 4

Value-Added Tax


113. Amendment of section 1 (interpretation) of Principal Act.

114. Amendment of section 4B (supplies of immovable goods) ofPrincipal Act.

115. Amendment of section 4C (transitional measures for suppliesof immovable goods) of Principal Act.

116. Amendment of section 5 (supply of services) of PrincipalAct.

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117. Amendment of section 8 (accountable persons) of PrincipalAct.

118. Amendment of section 10 (amount on which tax ischargeable) of Principal Act.

119. Amendment of section 10A (margin scheme goods) of Princi-pal Act.

120. Amendment of section 10B (special scheme for auctioneers)of Principal Act.

121. Amendment of section 11 (rates of tax) of Principal Act.

122. Amendment of section 12B (special scheme for means oftransport supplied by taxable dealers) of Principal Act.

123. Amendment of section 12C (special scheme for agriculturalmachinery) of Principal Act.

124. Amendment of section 13 (remission of tax on goodsexported, etc.) of Principal Act.

125. Amendment of section 15 (charge of tax on imported goods)of Principal Act.

126. Amendment of section 16 (duty to keep records) of Princi-pal Act.

127. Amendment of section 17 (invoices) of Principal Act.

128. Amendment of section 26 (penalties generally) of PrincipalAct.

129. Addition of Schedule 7 to Principal Act.

130. Substitution of First and Second Schedules to Principal Act.

131. Consequential amendment of Value-Added Tax Act 1972.

132. Pre-consolidation amendments and repeals (Part 4).

133. Supply of greenhouse gas emission allowances.

PART 5

Stamp Duties


135. Information exchange with Property Registration Authority.

136. Conveyance in consideration of debt.

137. Certain investment certificates.

138. Funds: reorganisation.

139. Levy on certain life insurance premiums.

140. Levy on authorised insurers.

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141. Amendment of Schedule 2B (qualifications for applying forrelief from stamp duty in respect of transfers to youngtrained farmers) to Principal Act.

PART 6

Capital Acquisitions Tax

142. Interpretation (Part 6).143. Amendment of section 57 (overpayment of tax) of Principal

Act.

144. Exemption of certain investment entities.

145. Amendment of section 82 (exemption of certain receipts) ofPrincipal Act.

146. Amendment of section 89 (provisions relating to agriculturalproperty) of Principal Act.

147. Modernisation of capital acquisitions tax administration.

PART 7

Miscellaneous


149. Amendment of Part 33 (anti-avoidance) of Principal Act.

150. Domicile levy.

151. Cesser of section 825 (residence treatment of donors of giftsto the State) of Principal Act.

152. Provision of information by Commission for TaxiRegulation.

153. Revenue powers.

154. Provision of information by National Asset ManagementAgency.

155. Amendment of section 1078 (revenue offences) of PrincipalAct.

156. Tax clearance certificates.

157. Amendment of section 826 (agreements for relief fromdouble taxation) of Principal Act.

158. Amendment of Schedule 24A (arrangements made by theGovernment with the government of any territory out-side the State in relation to affording relief from doubletaxation and exchanging information in relation to tax)to Principal Act.

159. Miscellaneous technical amendments in relation to tax.

160. Amendment of section 1 (definitions) of Provisional Collec-tion of Taxes Act 1927.

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161. Gifts to the State by certain donors.

162. Capital Services Redemption Account.

163. Amendment of Bretton Woods Agreements Act 1957.

164. Care and management of taxes and duties.

165. Short title, construction and commencement.

SCHEDULE 1

Rates of Solid Fuel Carbon Tax

SCHEDULE 2

Consequential Amendment of Value-Added Tax Act 1972

SCHEDULE 3

Pre-consolidation amendments and repeals (Part 4)

SCHEDULE 4Miscellaneous Technical Amendments in Relation to Tax

Acts Referred to

Bretton Woods Agreements Act 1957 1957, No. 18

Capital Acquisitions Tax Consolidation Act 2003 2003, No. 1

Child Care Act 1991 1991, No. 17

Companies Act 1963 1963, No. 33

Companies Act 1990 1990, No. 33

Courts of Justice Act 1924 1924, No. 10

Courts (Supplemental Provisions) Act 1961 1961, No. 39

Criminal Procedure Act 1967 1967, No. 12

Customs Consolidation Act 1876 39 & 40 Vict., c.36

Customs Act 1956 1956, No. 7

Defence Act 1954 1954, No. 18

Defence (Amendment) Act 2007 2007, No. 24

Fertilisers, Feeding Stuffs and Mineral Mixtures Act 1955 1955, No. 8

Finance (1909-10) Act 1910 10 Edw. 7, c.8

Finance Act 1931 1931, No. 31













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Finance (No. 2) Act 2008 2008, No. 25


Financial Emergency Measures in the Public Interest Act2009 2009, No. 5

Gaming and Lotteries Act 1956 1956, No. 2

Health Act 1970 1970, No. 1Health Contributions Act 1979 1979, No. 4

Health Insurance (Miscellaneous Provisions) Act 2009 2009, No. 24

Intoxicating Liquor Act 2008 2008, No. 17

Judgement Mortgage (Ireland) Act 1850 13 & 14 Vict., c.29

Judgement Mortgage (Ireland) Act 1858 21 & 22 Vict., c.105

Land and Conveyancing Law Reform Act 2009 2009, No. 27

Local Government Act 2001 2001, No. 37

Medical Practitioners Act 1978 1978, No. 4

Medical Practitioners Act 2007 2007, No. 25

National Asset Management Agency Act 2009 2009, No. 34

Nursing Homes Support Scheme Act 2009 2009, No. 15Pensions Act 1990 1990, No. 25

Planning and Development Act 2000 2000, No. 30

Provisional Collection of Taxes Act 1927 1927, No. 7

Roads Act 1920 10 & 11 Geo. 5, c.72

Road Traffic Act 1961 1961, No. 24

Road Traffic Act 1968 1968, No. 25

Social Welfare and Pensions Act 2009 2009, No. 10

Social Welfare Consolidation Act 2005 2005, No. 26

Stamp Duties Consolidation Act 1999 1999, No. 31

Succession Act 1965 1965, No. 27

Taxes Consolidation Act 1997 1997, No. 39Taxi Regulation Act 2003 2003, No. 25

Unit Trusts Act 1990 1990, No. 37

Value-Added Tax Act 1972 1972, No. 22

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AN BILLE AIRGEADAIS 2010

FINANCE BILL 2010

BILL

entitled

AN ACT TO PROVIDE FOR THE IMPOSITION, REPEAL,5

REMISSION, ALTERATION AND REGULATION OFTAXATION, OF STAMP DUTIES AND OF DUTIESRELATING TO EXCISE AND OTHERWISE TO MAKEFURTHER PROVISION IN CONNECTION WITH FIN-ANCE INCLUDING THE REGULATION OF CUSTOMS.10

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

PART 1

Cost Benefit Analysis of Tax Expenditures

1.The Minister shall within one month from the passing of thisAct prepare and lay before Dil ireann a report on a cost-benefit15analysis of tax expenditures provided for by this Act, setting outthe costs of tax foregone, and the benefits in terms of job creationor otherwise.

PART 2

Income Levy, Income Tax, Corporation Tax and Capital Gains20Tax

Chapter 1

Interpretation

2.In this Part Principal Act means the Taxes ConsolidationAct 1997.25

Chapter 2

Income Levy

3.(1) The Principal Act is amended in Part 18A

11

Cost benefitanalysis of taxexpenditures.

Interpretation (Part2).

Income levy.

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(a) in section 531B by substituting the following for paragraph(a) of the Table to subsection (1):

(a) The income described in this paragraph, to beknown as relevant emoluments, is emolu-ments to which Chapter 4 of Part 42 applies or 5is applied

(i) other than social welfare payments andsimilar type payments,

(ii) other than excluded emoluments,

(iii) disregarding expenses, in respect of which 10an employee may be entitled to relief fromincome tax, which fall within Regulation10(3) of the PAYE Regulations,

(iv) having regard to any relief under section201(5)(a) and paragraphs 6 and 8 of 15Schedule 3, and

(v) excluding emoluments of an individual whois resident in a territory with whicharrangements have been made under sub-section (1)(a)(i) or (1B)(a)(ii) of section 20826 in relation to affording relief fromdouble taxation, where those emolumentsare the subject of a notification issuedunder section 984(1).,

(b) in section 531B in paragraph (b) of the Table to subsection 25(1) by inserting the following after subparagraph (iv):

(iva) having regard to any reduction arising byvirtue of section 825A, and,

(c) in section 531B in paragraph (b) of the Table to subsection(1) by inserting the following after subparagraph (iva) 30(inserted by paragraph (b)):

(ivb) having regard to any allowances due undersection 659 arising from the obligationsunder Council Directive 91/676/EEC of 12December 19911 concerning the protection 35of waters against pollution caused bynitrates from agricultural sources.,

and

(d) in section 531B in paragraph (b) of the Table to subsection(1) by deleting subparagraphs (v), (vi) and (vii). 40

(2) The Principal Act is amended in paragraph 1(1) of Part 1 ofSchedule 24 by substituting the following for the definition of theIrish taxes

the Irish taxes means income tax, income levyand corporation tax;. 45

(3) This section applies1OJ No. L375, 31.12.1991, p.1

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(a) as respects paragraphs (a), (b) and (d) of subsection (1)and subsection (2), for the year of assessment 2009 andsubsequent years, and

(b) as respects paragraph (c) ofsubsection (1), for the year ofassessment 2010 and subsequent years.5

Chapter 3

Income Tax

4.As respects the year of assessment 2010 and subsequent yearsof assessment, section 122 of the Principal Act is amended in subsec-tion (1)(a)10

(a) by inserting the following after the definition ofpreferen-tial rate:

qualifying loan has the meaning assigned toit by section 244(1)(a);,

and15

(b) by substituting for paragraph (i) of the definition of thespecified rate the following:

(i) in a case where the preferential loan is aqualifying loan, the rate of 5 per cent perannum or such other rate (if any) pre-20scribed by the Minister for Finance byregulations,.

5.The Principal Act is amended

(a) in section 236 by inserting the following after subsection(6):25

(7) This section ceases to have effect for the year ofassessment 2010 and subsequent years of assessment.,

and

(b) in section 470A by inserting the following after subsec-tion (12):30

(13) This section ceases to have effect for the year ofassessment 2010 and subsequent years of assessment..

6.(1) Section 469 of the Principal Act is amended

(a) in subsection (1) by substituting the following for thedefinition ofhealth care:35

health care means prevention, diagnosis, alleviation ortreatment of an ailment, injury, infirmity, defect or dis-ability, and includes care received by a woman in respectof a pregnancy, but does not include

(a) routine ophthalmic treatment,40

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Amendment ofsection 122(preferential loanarrangements) ofPrincipal Act.

Cesser of certainreliefs.

Amendment ofsection 469 (relieffor health expenses)of Principal Act.

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(b) routine dental treatment, or

(c) cosmetic surgery or similar procedures, unlessthe surgery or procedure is necessary to ameli-orate a physical deformity arising from, ordirectly related to, a congenital abnormality, a 5personal injury or a disfiguring disease;,

(b) in subsection (1) in the definition ofhealth expenses bysubstituting the following for paragraph (c):

(c) maintenance or treatment necessarily incurredin connection with the services or procedures 10referred to in paragraph (a) or (b),,

(c) in subsection (1) by deleting the definition ofhospital,

(d) in subsection (1) in paragraph (a) of the definition ofpractitioner by substituting section 43 of the MedicalPractitioners Act 2007 for section 26 of the Medical 15Practitioners Act, 1978,

(e) by substituting the following for subsection (2)

(2) (a) Subject to this section, where an individual fora year of assessment proves that in the year ofassessment he or she defrayed health expenses 20incurred for the provision of health care, theincome tax to be charged on the individual,other than in accordance with section 16(2), forthat year of assessment shall be reduced by thelesser of 25

(i) the amount equal to the appropriate per-centage of the specified amount, and

(ii) the amount which reduces that income taxto nil,

but, where an individual proves that he or she 30defrayed health expenses incurred for the pro-vision of health care in the nature of mainten-ance or treatment in a nursing home, other thana nursing home which does not provide accessto 24 hour nursing care on-site, the individual 35shall be entitled for the purpose of ascertainingthe amount of the income on which he or she isto be charged to income tax, to have a deductionmade from his or her total income of the

amount proved to have been so defrayed. 40

(b) For the purposes of this section any contributionmade by an individual in defraying expensesincurred in respect of nursing home fees wheresuch an individual is entitled to or has receivedState support (within the meaning of section 453(1) of the Nursing Homes Support SchemeAct 2009) shall be treated as health expensesqualifying for relief under this section.

(c) Financial support (within the meaning of theNursing Homes Support Scheme Act 2009) 50

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shall not be treated as health expenses for thepurposes of this section.,

and

(f) by inserting the following after subsection (7)

(8) (a) Where the Minister for Finance determines that5

expenses, or a class of expenses, representingthe cost of anything referred to in paragraphs(a) to (i) in the definition of health expensesin subsection (1) has been or may be incurredin the provision of health care which in the10opinion of the Minister for Finance is inap-propriate having regard to public policy, thenthe Minister may by order prescribe thoseexpenses, or class of expenses, as not being eli-gible for relief under this section.15

(b) The Minister for Finance shall not make anorder under paragraph (a) unless he or she hasconsulted with the Minister for Health and

Children and such appropriately qualified per-sons, bodies or institutions (if any), which in20the opinion of the Minister for Finance or theMinister for Health and Children should beconsulted.

(c) Every order made by the Minister for Financeunder paragraph (a) shall be laid before Dil25ireann as soon as may be after it is made and,if a resolution annulling the order is passed byDil ireann within the next 21 days on whichDil ireann has sat after the order is laidbefore it, the order shall be annulled accord-30ingly, but without prejudice to the validity of

anything previously done thereunder..

(2) This section shall have effect for the year of assessment 2010and subsequent years.

7.As respects the year of assessment 2010 and subsequent years35of assessment, section 244 of the Principal Act is amended

(a) in subsection (1)(a) by inserting taken out on or after 1January 2004 and on or before 31 December 2011 afterqualifying loan in the definition of relievableinterest,40

(b) by substituting the following for paragraph (b) of subsec-tion (1A):

(b) Notwithstanding paragraph (a), this sectionshall continue to apply

(i) for the year of assessment 2010 and sub-45sequent years of assessment up to andincluding the year of assessment 2017 inrespect of qualifying interest paid inrespect of a qualifying loan taken out onor after 1 January 2004 and on or before5031 December 2011, and

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Amendment ofsection 244 (relieffor interest paid oncertain home loans)of Principal Act.

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(ii) for the year of assessment 2012 and sub-sequent years of assessment up to andincluding the year of assessment 2017 inrespect of qualifying interest paid inrespect of a qualifying loan taken out on 5or after 1 January 2012 and on or before31 December 2012.,

and(c) by substituting the following for subsection (2)(a):

(2) (a) In this subsection appropriate percentage, in 10relation to a year of assessment, means

(i) as respects qualifying interest to which sub-section (1A)(b)(i) applies

(I) where relievable interest is determinedby reference to paragraph (i) or (ii) 15of the definition of relievableinterest, 15 per cent for that year,

and(II) where relievable interest is determined

by reference to paragraph (iii) or (iv) 20of the definition of relievableinterest:

(A) 25 per cent for the first and secondyears of assessment for whichthere is an entitlement to relief 25under this section,

(B) 22.5 per cent for the third, fourthand fifth years of assessment for

which there is an entitlement torelief under this section, and 30

(C) a percentage equal to the standardrate of tax for the sixth and sev-enth years of assessment forwhich there is an entitlement torelief under this section, 35

and

(ii) as respects qualifying interest to which sub-section (1A)(b)(ii) applies

(I) where relievable interest is determinedby reference to paragraph (i) or (ii) 40of the definition of relievableinterest, 10 per cent for that year,and

(II) where relievable interest is determinedby reference to the first 6 years of 45assessment or, where the period ofentitlement to relief under thissection is shorter, such shorter period,15 per cent for that year..

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8.As respects the year of assessment 2010 and subsequent yearsof assessment, section 997A of the Principal Act is amended byinserting the following subsection after subsection (5)

(6) Where, in accordance with subsection (5), the tax to betreated as having been deducted from the emoluments paid to5each person to whom this section applies exceeds the actualamount of tax deducted from the emoluments of each person,

then the amount of credit to be given for tax deducted fromthose emoluments shall not exceed the actual amount of tax sodeducted..10

9.As respects the year of assessment 2010 and subsequent yearsof assessment, section 71 of the Principal Act is amended

(a) by substituting the following for subsection (2):

(2) Subsection (1) shall not apply to any person whosatisfies the Revenue Commissioners that he or she is not15domiciled in the State.,

(b) in subsection (3), by substituting In the case mentionedin subsection (2) for In the cases mentioned in subsec-tion (2), and

(c) in subsection (5), by substituting as to domicile for as20to domicile or ordinary residence.

10.As respects the year of assessment 2010 and subsequent yearsof assessment, section 825B of the Principal Act is amended

(a) by inserting the following after subsection (1):

(1A) As regards individuals who are not domiciled in25

the State and who, on or after 1 January 2010

(a) become resident in the State for tax purposesfor the first time, and

(b) exercise the duties of their employment in theState for the first time,30

then, this section shall apply as if in subsection (1)

(i) the words which is not a party to the EEAagreement, but were deleted from the defini-tion ofassociated company;

(ii) the words that is not a party to the EEA Agree-35ment but were deleted from the definition ofrelevant employee; and

(iii) the words that is not a party to the EEA Agree-ment but were deleted from the definition ofrelevant employer.,40

(b) in subsection (2)

(i) in paragraph (c) by substituting one year for 3years, and

17

Amendment ofsection 997A (creditin respect of taxdeducted fromemoluments ofcertain directors) ofPrincipal Act.

Amendment ofsection 71 (foreignsecurities andpossessions) ofPrincipal Act.

Amendment ofsection 825B(repayment of taxwhere earnings notremitted) ofPrincipal Act.

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Amendment ofsection 825A(reduction inincome tax forcertain incomeearned outside theState) of PrincipalAct.

Amendment ofsection 477 (relieffor service charges)of Principal Act.

Amendment ofsection 216A (rent-a-room relief) ofPrincipal Act.

Amendment ofsection 667B (newarrangements forqualifying farmers)of Principal Act.

(ii) by inserting and not repaid after tax deducted,

(c) in subsection (5) by inserting , computed by reference toparagraphs (i) and (ii) of subsection (2), after shall beliable to income tax on those emoluments, and

(d) in subsection (6) by substituting one year for 3 year. 5

11.Section 825A of the Principal Act is amended by substitutingthe following for subsection (7):

(7) For the purposes of this section

(a) as respects the year of assessment 2009 and previousyears of assessment, an individual shall be deemed 10to be present in the State for a day if the individualis present in the State at the end of the day, and

(b) as respects the year of assessment 2010 and sub-sequent years of assessment, an individual shall bedeemed to be present in the State for a day if the 15individual is present in the State at any time duringthat day..

12.Section 477 of the Principal Act is amended by inserting thefollowing after subsection (7):

(8) This section ceases to have effect as respects service 20charges paid in the financial year 2011 for that financial yearand subsequent financial years for those financial years..

13.Section 216A of the Principal Act is amended by inserting

the following after subsection (3A):(3B) (a) Subsection (2) shall not apply for a year of assess- 25

ment to relevant sums arising to

(i) an individual, or

(ii) a person connected with the individual,

where the individual is an office holder, oremployee, of 30

(I) the person making the payment, or

(II) a person connected with the person making thepayment.

(b) This subsection shall apply irrespective of whether therelevant sums are paid directly or indirectly by the 35person referred to in clauses (I) and (II) of para-graph (a) to the individual or to a person connectedwith the individual..

14.The Table to section 667B of the Principal Act is amendedin paragraph (3) by inserting the following after subparagraph (a): 40

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(aa) Bachelor of Agricultural Science Agri-Environ-mental Science awarded by University CollegeDublin;.

15.Section 384 of the Principal Act is amended

(a) in subsection (3) by substituting Subject to subsection (4),5any for Any, and

(b) by inserting the following after subsection (3):

(4) Any allowance to be made in charging incomeunder Case V of Schedule D in accordance with section305(1)(a) shall be made in priority to any relief to be given10under this section..

16.(1) The Principal Act is amended

(a) in section 784A(1BA) by deleting paragraph (a) and sub-stituting the following for paragraph (c):

(c) The specified amount for a year of assessment15shall be an amount equivalent to the amountdetermined by the formula

(A 3) B

100

where the amount so determined is greater than20zero and where

A is the value of the assets in an approvedretirement fund on 31 December in theyear of assessment or, where there is more

than one approved retirement fund the25 assets of which are owned by the sameindividual and managed by the samequalifying fund manager, the aggregate ofthe value of the assets in each approvedretirement fund on that date (in this sub-30section referred to as the relevant valuewhether there is one or more than onesuch approved retirement fund), and

B is the amount or value of the distribution orthe aggregate of the amounts or values of35the distribution or distributions (in thissubsection referred to as the relevantdistribution), if any, made during the year

of assessment by the qualifying fund man-ager in respect of assets held in40

(i) the approved retirement fund or, asthe case may be, approved retirementfunds referred to in the meaning ofA, and

(ii) an approved minimum retirement45fund, if any, the assets of which arebeneficially owned by the individualand managed by that qualifying fundmanager,

19

Amendment ofsection 384 (reliefunder Case V forlosses) of Principal

Act.

Retirementbenefits.

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Amendment ofsection 128D (taxtreatment ofdirectors ofcompanies andemployees who

acquire restrictedshares) of PrincipalAct.

(in this paragraph referred to as the funds)being funds the assets in which were firstaccepted into the funds by the qualifyingfund manager on or after 6 April 2000.,

(b) in section 787O(1) by inserting the following after para- 5graph (b) of the definition ofdate of the current event:

(ba) the annuity would otherwise become payableunder a PRSA of a kind referred to in para-graph (c) of the definition ofrelevant pensionarrangement where an individual does not 10elect to exercise an option in accordance withsection 787H(1) and instead retains the assetsavailable in the PRSA at that date, in thatPRSA or any other PRSA,,

(c) in Schedule 23 by inserting the following after paragraph 152A:

Information to be provided in electronic format

2B. In the case of an approved scheme in respect of

which the administrator has to deliver annualscheme accounts to the Revenue Commis- 20sioners, the administrator shall deliver theaccounts by such electronic means as arerequired or approved by the Commissioners.,

(d) in Schedule 23B by inserting the following after subpara-graph (b) of paragraph 2: 25

(ba) the individual does not elect to exercise anoption in accordance with section 787H(1) andinstead retains the assets of the PRSA in thatPRSA or any other PRSA,,

and 30

(e) in Schedule 23B by inserting the following after subpara-graph (d) of paragraph 3:

(da) where the benefit crystallisation event is anevent of a kind referred to in paragraph 2(ba),the aggregate of the amount of so much of the 35cash sums and the market value of such of theassets as are retained in the PRSA or in anyother PRSA,.

(2) (a) Paragraph (a) of subsection (1) has effect for the year ofassessment 2010 and subsequent years of assessment. 40

(b) Paragraphs (b), (d) and (e) ofsubsection (1) have effect ason and from 4 February 2010.

(c) Paragraph (c) of subsection (1) has effect as respectsapproved schemes whose accounting year ends on orafter 1 January 2011. 45

17.(1) Section 128D of the Principal Act is amended

(a) in subsection (1) by inserting the following after the defini-tion ofdirector and employee

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EEA Agreement means the Agreement on the Euro-pean Economic Area signed at Oporto on 2 May 1992, asadjusted by all subsequent amendments to thatAgreement;

EEA state means a state, other than the State, which is5a Contracting Party to the EEA Agreement;,

(b) in subsection (1) in the definition ofspecified period bysubstituting subsection (3)(a); for subsection (3)(a).and by inserting the following after that definition:

trust means a trust established in the State or in an10EEA state and the trustees of which are resident in theState or in an EEA state.,

(c) in subsection (4)

(i) by substituting amount chargeable to income taxfor charge to income tax in both places where it15occurs, and

(ii) in the meaning assigned to A in the formula inparagraph (a) by substituting the income charge-able to tax for the income tax charge,

(d) in subsection (5)20

(i) by substituting an amount chargeable to income taxfor a charge to income tax,

(ii) by substituting the amount chargeable to incometax for the income tax charge, and

(iii) by substituting Income Tax Acts for Income25Taxes Acts,

and

(e) in subsection (6)

(i) by substituting an amount chargeable to income taxfor a charge to income tax, and30

(ii) by substituting the amount chargeable to incometax for the amount of the income tax charge.

(2) (a) Paragraphs (a) and (b) of subsection (1) apply to sharesacquired on or after 4 February 2010.

(b) Paragraphs (c), (d) and (e) of subsection (1) apply to35shares acquired on or after 20 November 2008.


(a) in Chapter 3 of Part 38 by inserting the following aftersection 897A:

21

Information inrespect of awards ofshares.

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Amendment ofSchedule 11 (profitsharing schemes) toPrincipal Act.

Returns ofinformation inrespect ofawards ofshares todirectors andemployees.

897B.(1) In this section

director, employee and employer havethe meanings, respectively, given to themby section 770(1);

shares includes stock and securities within 5the meaning of section 135.

(2) (a) Where in any year of assessmentan employer or other personawards shares to a director oremployee and income tax under 10Schedule D or Schedule E maybe chargeable on the director oremployee in respect of theshares awarded, the employeror other person, as the case may 15be, shall deliver to the RevenueCommissioners on or before 31March in the year of assessmentfollowing the year in which theaward was made, particulars of 20all such awards.

(b) Paragraph (a) shall not applywhere the employer or person,as the case may be, is obliged toprovide such particulars under 25any other provision of theIncome Tax Acts.,

and

(b) in Schedule 29, column 3, by inserting section 897Bbefore section 904. 30

(2) (a) Paragraph (a) of subsection (1) applies as on and from 1January 2010 in respect of shares awarded on or after 1January 2009.

(b) Paragraph (b) ofsubsection (1) applies as on and from thepassing of this Act. 35

19.(1) Schedule 11 to the Principal Act is amended

(a) in Part 2, paragraph 4, by inserting the following after sub-paragraph (1B):

(1C) (a) As respects a profit sharing scheme approvedon or after 4 February 2010, the Revenue Com- 40missioners shall be satisfied that there are noarrangements connected in any way, directly orindirectly, with the scheme, which make pro-vision for a loan or loans to be made to someor all of the individuals eligible to participate 45in the scheme.

(b) For the purposes of this subparagraph

arrangements include any scheme, agreement,undertaking, or understanding of any kind,

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whether or not it is, or it is intended to be leg-ally enforceable;

loan includes any form of credit.,

and

(b) in Part 3, in paragraph 8 by substituting Subject to para-5

graphs 8A and 8B, for Subject to paragraph 8A,, andby inserting the following after paragraph 8A:

8B.(1) The shares shall not be shares

(a) in a service company, or

(b) in a company that has control of a service com-10pany, where the company is under the controlof a person or persons referred to in subpara-graph (2)(a)(i) as it applies to a servicecompany.

(2) For the purposes of this paragraph15

(a) a company is a service company if the businesscarried on by the company consists wholly ormainly of the provision of the services of per-sons employed by the company and themajority of those services are provided to20

(i) a person who has, or 2 or more persons whotogether have, control of the company,

(ii) a company associated with the company, or

(iii) a partnership associated with the company,(b) a company is associated with another company25

where

(i) both companies are under the control(within the meaning of section 432) of thesame person or persons, or

(ii) it could reasonably be considered that30

(I) both companies act in pursuit of acommon purpose,

(II) any person or any group of persons orgroups of persons having a reasonablecommonality of identity have or had35the means or power, either directly orindirectly, to determine the tradingoperations carried on or to be carriedon by both companies, or

(III) both companies are under the control40of any person or group of persons orgroups of persons having a reasonablecommonality of identity,

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Amendment ofsection 470B (age-related relief forhealth insurancepremiums) ofPrincipal Act.

(c) a partnership is associated with a companywhere the partnership and the company act inpursuit of a common purpose,

(d) a reference to a person includes a reference toa partnership, and 5

(e) where a partner, or a partner together with

another person or persons, has control of acompany, the partnership is to be treated ashaving control of that company..

(2) Paragraph (b) ofsubsection (1) applies to an appropriation of 10shares made by the trustees of an approved scheme (within themeaning of section 510(1)) on or after 4 February 2010.

20.Section 470B of the Principal Act is amended by substitutingthe following for subsection (4):

(4) Subject to subsections (5) and (6), where for a relevant 15year of assessment, an individual or, if the individual is a married

person assessed to tax in accordance with section 1017, the indi-viduals spouse, makes a payment to an authorised insurer undera relevant contract and

(a) the payment is in respect of a premium due under 20the relevant contract and the relevant contract wasrenewed or entered into on or after 1 January 2009but before 1 January 2012, and

(b) the payment or part of the payment, as the case maybe, is attributable to an insured person, and only to 25an insured person, who is aged 50 years or over onthe date the relevant contract is renewed or enteredinto, as the case may be,

then the individual shall, for the relevant year of assessment, inrespect of so much of the relievable amount of the payment or 30part of the payment, as the case may be, as is attributable to aninsured person referred to in paragraph (b), be entitled to acredit (referred to in this section as age-related tax credit)equal to the lower of

(i) as respects a relevant contract renewed or entered 35into on or after 1 January 2009 but before 1 January2010, the amount specified in the second column ofthe Table to this subsection corresponding to theclass of insured person mentioned in the first columnof that Table or, where the payment made to the 40

authorised insurer is a monthly or other instalmenttowards the payment of the total annual premiumdue under the relevant contract, an amount equal tothe amount so specified divided by the total numberof instalments to be made to pay such total annual 45premium;

(ii) as respects a relevant contract renewed or enteredinto on or after 1 January 2010, the amount specifiedin the third column of the Table to this subsectioncorresponding to the class of insured person men- 50tioned in the first column of that Table or, where thepayment made to the authorised insurer is a monthly

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or other instalment towards the payment of the totalannual premium due under the relevant contract, anamount equal to the amount so specified divided bythe total number of instalments to be made to paysuch total annual premium, and5

(iii) an amount which reduces the income tax to becharged on the individual for the relevant year of

assessment, other than in accordance with section16(2), to nil.

TABLE10

(1) (2) (3)

Class of Insured Amount of age- Amount of age-relatedPerson related tax credit tax credit

Aged 50 years and 200.00 200.00over but less than1560 years on thedate the relevantcontract isrenewed orentered into, as20

the case may be.Aged 60 years and 500.00 525.00over but less than70 years on thedate the relevant25contract isrenewed orentered into, asthe case may be.

Aged 70 years and30 950.00 975.00over but less than80 years on thedate the relevantcontract isrenewed or35entered into, as

the case may be.Aged 80 years and 1,175.00 1,250.00over on the datethe relevant40contract isrenewed orentered into, asthe case may be.

.45

21.Section 409C of the Principal Act is amended by inserting thefollowing after subsection (4)

(4A) (a) Notwithstanding subsection (4), where this sectionapplies for the year of assessment 2010 or a lateryear of assessment, the amount of the loss referred50to in subsection (3)(a) which can be treated as reduc-ing income for each such year of assessment undersection 381(1) shall be nil.

(b) This subsection shall not apply for the years of assess-ment 2010 or 2011 in relation to55

(i) work which was completed before 4 February2010,

25

Income tax:restriction on use oflosses on approvedbuildings.

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Amendment ofSchedule 13(accountablepersons forpurposes of Chapter1 of Part 18) toPrincipal Act.

Limitation onamount of certainreliefs used bycertain high incomeindividuals.

(ii) work which was underway on 4 February 2010, or

(iii) work carried out under a contractual commit-ment entered into before 4 February 2010 andevidenced in writing before that date where thework begins after that date.. 5

22

.(1) Schedule 13 to the Principal Act is amended(a) by deleting paragraphs 31, 45, 57, 66, 67, 71, 72, 75, 78, 104,

113, 123, 130 and 172,

(b) by substituting the following for paragraph 73:

73. Pobal., 10

(c) by substituting the following for paragraph 102:

102. Commission for Energy Regulation.,

(d) by substituting the following for paragraph 119:

119. Digital Hub Development Agency.,

and 15

(e) by inserting the following after paragraph 174 (inserted bythe National Asset Management Agency Act 2009):

175. National Transport Authority.

176. The Medical Council.

177. Anglo Irish Bank Corporation Limited. 20

178. Central Bank and Financial Services Authorityof Ireland.

179. Financial Services Ombudsmans Bureau.

180. Broadcasting Authority of Ireland..

(2) Subsection (1)(e) of this section applies as and from 1 May 252010.

23.(1) Chapter 2A of Part 15 of the Principal Act is amended

(a) in section 485C(1) by inserting the following definitionsafter the definition ofexcess relief:

income threshold amount, in relation to a tax year and 30an individual, means

(a) 125,000, or

(b) in a case where the individuals income for thetax year includes ring-fenced income and his orher adjusted income for the tax year is less than 35400,000, the amount determined by theformula

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125,000 AB

whereA is the individuals adjusted income for the

year, and5B is an amount determined by the formula

T + S

where T and S have the same meanings respec-tively as they have in the definition ofadjusted income;10

relief threshold amount, in relation to a tax year and anindividual, means 80,000;,

(b) in section 485C(1) by deleting the definition of thres-hold amount,

(c) in section 485D15

(i) in paragraph (a) by substituting the income thres-

hold amount for the threshold amount,(ii) in paragraph (b) by substituting the relief threshold

amount for the threshold amount, and

(iii) by substituting 20 per cent of the individuals20adjusted income for one-half of the individualsadjusted income,

(d) in section 485E by substituting the following for the con-struction ofY in the formula in that section

Y is the greater of25

(i) the relief threshold amount, and

(ii) 20 per cent of the individuals adjustedincome for the tax year.,

and

(e) in section 485FB(6)(b) by substituting the income thres-30hold amount for the threshold amount.

(2) Subsection (1) applies as respects the year of assessment 2010and subsequent years of assessment.

Chapter 4

Income Tax, Corporation Tax and Capital Gains Tax35

24.The Principal Act is amended

(a) by inserting the following after section 208:

Overseascharities.

208A.(1) In this section and section208B

charity means any body of persons or trust40established for charitable purposes only;

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Provisions relatingto charities anddonations toapproved bodies.

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EEA Agreement means the Agreementon the European Economic Area signed atOporto on 2 May 1992, as adjusted byall subsequent amendments to thatAgreement; 5

EEA state means a state, other than theState, which is a contracting party to the

EEA Agreement;EFTA state means a state, other than anEEA state, which is a Member State of the 10European Free Trade Association.

(2) A person or trust established in anEEA state or in an EFTA state may on aclaim being made to the Revenue Commis-sioners seek a determination to the effect 15that, if the person or trust were to haveincome in the State of a kind referred to insection 207 or 208, it would qualify for theexemptions provided for by those sections.

(3) A claim referred to in subsection (2) 20shall be determined by the Revenue Com-missioners or such officer of the RevenueCommissioners (including an inspector) asthey may authorise in that behalf.

(4) Where a claim referred to in subsec- 25tion (2) has been determined in accordancewith subsection (3) and the determinationis to the effect that if the person or trustwere to have income in the State of a kindreferred to in section 207 or 208 it would 30qualify for the exemptions provided for by

those sections, the Revenue Commis-sioners, or such officer of the RevenueCommissioners as they may authorise inthat behalf, shall issue the person or trust 35with a notice of that determination.

(5) Every claim made under this sectionshall be verified by a document correspond-ing to an affidavit sworn in the State or byan equivalent sworn statement, and proof 40of the claim may be given by the treasurer,trustee or any duly authorised agent.

Charities

miscellaneous.

208B.(1) In this section

charity trustee includes

(a) in the case of a charity that is a 45company, the directors andother officers of the company,and

(b) in the case of a charity that is abody corporate (other than a 50company) or an unincorporatedbody of persons, any officer ofthe body or any person for the

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time being performing the func-tions of an officer of the body;

qualified person means

(a) a person who, in accordance withsection 187 of the Companies5Act 1990, is qualified for

appointment as an auditor of acompany, or

(b) in relation to a person or trustthat10

(i) has made a claim for a deter-mination under section208A(2),

(ii) is established in an EEAstate or in an EFTA state,15and

(iii) does not have a principalplace of business in theState,

a person who is qualified under20the law of that EEA state or thatEFTA state, as the case may be,to perform functions the same asor similar to those which may beperformed in the State by a per-25son referred to in paragraph (a).

(2) A claim by a person or trust for

(a) a determination under section864 in relation to a claim undersection 207 or 208, or30

(b) a determination under section208A,

shall be supported by such information asthe Revenue Commissioners may reason-ably require for the purpose of determining35the claim.

(3) A charity

(a) who has been granted an exemp-tion under section 207 or 208, or

(b) to whom a notice of determi-40nation has been issued inaccordance with section208A(4),

shall, on request, provide such informationto the Revenue Commissioners as they may45require in respect of the activities of thatcharity in any financial year following thegranting of an exemption or, as the case

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may be, the issuing of a notice of the deter-mination.

(4) Any information to be provided tothe Revenue Commissioners under subsec-tion (2) or (3) shall be in an official langu- 5age of the State.

(5) The Revenue Commissioners mayappoint such qualified persons as they con-sider appropriate to verify any informationprovided to them under subsection (2) or 10(3).

(6) The expenses incurred by any personappointed by the Revenue Commissionersunder subsection (5) shall be recoverableby the Revenue Commissioners as a simple 15contract debt in any court of competentjurisdiction

(a) from the charity trustees (who

shall be jointly and severallyliable for those expenses), or 20

(b) from the charity concerned,where it is not practicable torecover them from the charitytrustees.,

(b) in Part 1 of Schedule 26A by deleting paragraph 19, 25

(c) in Part 3 of Schedule 26A by deleting in the State in

(i) paragraph 1 in the definition ofeligible charity, and

(ii) paragraph 2,(d) in Part 3 of Schedule 26A by substituting the following for

paragraph 3(c): 30

(c) before the date of the making of the applicationconcerned under paragraph 2

(i) it has been granted exemption from tax forthe purposes of section 207 for a period ofnot less than 2 years, or 35

(ii) it received a notice of determination fromthe Revenue Commissioners in accord-

ance with section 208A at least 2 yearsbefore that date,,

and 40

(e) in Part 3 of Schedule 26A by inserting the following afterparagraph 7:

8. Information to be furnished to the RevenueCommissioners or published as required by theMinister for Finance for the purposes of this 45Part shall be furnished or published in anofficial language of the State..

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25.(1) Part 22 of the Principal Act is amended

(a) in the definition ofqualifying land in section 644AB(1)by deleting or where it last occurs in paragraph (a), bysubstituting section 616(1)(g), or for section616(1)(g) in paragraph (b) and by inserting the following5

after paragraph (b):(c) consisting of a site of 0.4047 hectares or less

whose market value at the date of disposaldoes not exceed 250,000 (notwithstandingthat a planning authority may have granted10permission in respect of that site in accordancewith section 34(1) of the Planning andDevelopment Act 2000), other than where thedisposal by the person making it, or by a per-son connected with that person, forms part of15a larger transaction or series of transactions,,

(b) in section 644AB(1) by deleting the definition of rezon-

ing and by inserting the following after the definition ofqualifying land:

relevant planning decision, in relation to land and in20accordance with the Planning and Development Act 2000(in this definition referred to as the Act of 2000),means

(a) a change in the zoning of land in a developmentplan or a local area plan made or varied under25Part II of the Act of 2000 from non-develop-ment land-uses to development land-uses orfrom one development land-use to anotherdevelopment land-use including a mixture of

such uses, or30(b) a decision to grant permission, in accordance

with section 34(6) or 37(2) of the Act of 2000,for a development that would materially con-travene a development plan;,

(c) in section 644AB(2) by substituting a relevant planning35decision for the rezoning of that land,

(d) in section 644AB(5)(a) by substituting a relevant plan-ning decision for the rezoning of land,

(e) in section 649B(1) by deleting the definition ofrezoning

and by inserting the following after the definition of40 non-development land use:

relevant planning decision, in relation to land and inaccordance with the Planning and Development Act 2000(in this definition referred to as the Act of 2000),means45

(a) a change in the zoning of land in a developmentplan or a local area plan made or varied underPart II of the Act of 2000 from non-develop-ment land-uses to development land-uses orfrom one development land-use to another50

31

Amendment of Part22 (provisionsrelating to dealingin or developingland and disposalsof developmentland) of PrincipalAct.

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Amendment ofsection 843A(capital allowancesfor buildings usedfor certain childcarepurposes) ofPrincipal Act.

development land-use including a mixture ofsuch uses, or

(b) a decision to grant permission, in accordancewith section 34(6) or 37(2) of the Act of 2000,for a development that would materially con- 5travene a development plan;,

(f) in section 649B(1) in the definition of windfall gain bysubstituting a relevant planning decision forrezoning,

(g) in section 649B(2) 10

(i) by deleting , made on or after 30 October 2009,, and

(ii) by substituting a relevant planning decision for re-zoning in paragraph (a) and by substituting relev-ant planning decision for rezoning where itoccurs in paragraphs (b) and (c), 15

(h) in section 649B(4) by deleting or where it last occurs in

paragraph (a), by substituting section 616(1)(g), or forsection 616(1)(g), in paragraph (b) and by inserting thefollowing after paragraph (b):

(c) the disposal is the disposal of a site of 0.4047 20hectares or less whose market value at the dateof disposal does not exceed 250,000(notwithstanding that a planning authority mayhave granted permission in respect of that sitein accordance with section 34(1) of the Plan- 25ning and Development Act 2000), other thanwhere the disposal by the person making it, orby a person connected with that person, formspart of a larger transaction or series oftransactions,, 30

and

(i) in section 649B(5) by substituting relevant planningdecision for rezoning.

(2) (a) Paragraphs (a) and (h) apply as respects disposals madeon or after 30 October 2009. 35

(b) Paragraphs (b), (c), (d), (e), (g)(ii) and (i) apply asrespects changes or decisions made on or after 4February 2010.

(c) Paragraph (g)(i) applies as on and from 4 February 2010.

26.Section 843A of the Principal Act is amended 40

(a) in subsection (1) by inserting the following after the defini-tion ofqualifying expenditure:

qualifying period means the period commencing on 1December 1999 and ending

(a) on 30 September 2010, or 45

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(b) where subsection (6)(a) applies, on 31 March2011, or

(c) where subsection (6)(b) applies, on 31 March2012;,

(b) in subsection (2) by substituting Subject to subsections5(2A) to (5) for Subject to subsections (3) to (5),

(c) by inserting the following after subsection (2):

(2A) An allowance shall be given by virtue of subsec-tion (2) in relation to any qualifying expenditure on aqualifying premises only in so far as that expenditure is10incurred in the qualifying period.,

(d) in subsection (3) by substituting incurred in the qualifyingperiod for incurred on or after 2 December 1998, and

(e) by inserting the following after subsection (5):

(6) (a) For the purposes of paragraph (b) of the defini-15

tion of qualifying period, this paragraphapplies where

(i) capital expenditure is incurred on the con-struction, conversion or refurbishment ofa qualifying premises,20

(ii) the construction, conversion or refur-bishment work on the qualifying premisesrepresented by that expenditure isexempted development for the purposesof the Planning and Development Act252000 by virtue of section 4 of that Act orby virtue of Part 2 of the Planning and

Development Regulations 2001 (S.I. No.600 of 2001) (in this subsection referred toas the Regulations of 2001), and30

(iii) not less than 30 per cent of the total con-struction, conversion or refurbishmentcosts has been incurred on or before 30September 2010.

(b) For the purposes of paragraph (c) of the defini-35tion of qualifying period, this paragraphapplies where

(i) capital expenditure is incurred on the con-

struction, conversion or refurbishment ofa qualifying premises,40

(ii) a planning application (not being an appli-cation for outline permission within themeaning of section 36 of the Planning andDevelopment Act 2000), in so far as plan-ning permission is required, in respect of45the construction, conversion or refur-bishment work on the qualifying premisesrepresented by that expenditure, is madein accordance with the Regulations of2001,50

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Mid-Shannoncorridor tourisminfrastructureinvestment scheme.

Payment of tax bymeans of donationof heritageproperty.

(iii) an acknowledgement of the application,which confirms that the application wasreceived on or before 30 September 2010,is issued by the planning authority inaccordance with article 26(2) of the Regu- 5lations of 2001, and

(iv) the application is not an invalid application

in respect of which a notice was issued bythe planning authority in accordance witharticle 26(5) of the Regulations of 2001. 10

(7) For the purposes only of determining, in relation toa claim for an allowance by virtue of subsection (2),whether and to what extent capital expenditure incurredon the construction, conversion or refurbishment of aqualifying premises is incurred or not incurred in the quali- 15fying period, only such an amount of that capital expendi-ture as is properly attributable to work on the construc-tion, conversion or refurbishment of the premises actuallycarried out during the qualifying period shall(notwithstanding any other provision of the Tax Acts as 20

to the time when any capital expenditure is or is to betreated as incurred) be treated as having been incurred inthat period..

27.(1) Section 372AW of the Principal Act is amended

(a) in subsection (1) in the definition of qualifying period 25by substituting 31 May 2015 for 31 May 2013, and

(b) in subsection (2)(b) by substituting 4 years for 2 years.

(2) Subsection (1) comes into operation on the making of an orderto that effect by the Minister for Finance.

28.(1) Section 1003A of the Principal Act is amended in subsec- 30tion (1)

(a) in the definition ofcontents of the building by substitut-ing the Minister is satisfied or, as appropriate, the Com-missioners of Public Works in Ireland are satisfied forthe Minister is satisfied, and 35

(b) by substituting the following for the definition of relev-ant gift:

relevant gift means a gift of heritage property to the

Trust or, as appropriate, to the Commissioners of PublicWorks in Ireland in respect of which no consideration 40whatever (other than relief under this section) is receivedby the person making the gift, either directly or indirectly,from the Trust or from those Commissioners orotherwise;.

(2) Section 1003A of the Principal Act is amended by substituting 45the following for subsection (2):

(2) (a) In this section heritage property means a buildingor a garden which, on application in writing to theMinister or, as appropriate, to the Commissioners of

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Public Works in Ireland in that behalf by a personwho owns the building or the garden is, subject tothe provisions of this subsection, determined by theMinister or, as appropriate, by those Commissionersto be a building or a garden which is5

(i) an outstanding example of the type of building orgarden involved,

(ii) pre-eminent in its class,

(iii) intrinsically of significant scientific, historical,horticultural, national, architectural or aesthetic10interest, and

(iv) suitable for acquisition by the Trust or, as appro-priate, by the Commissioners of Public Worksin Ireland,

and, for the purposes of this section, a reference to15building includes

(I) any associated outbuilding, yard or land wherethe land is occupied or enjoyed with the buildingas part of its garden or designed landscape andcontributes to the appreciation of the building20in its setting, and

(II) the contents of the building.

(b) An application for a determination under this subsec-tion shall be made to the Minister where it relates toa relevant gift to be made to the Trust or shall be25made to the Commissioners of Public Works inIreland where it relates to a relevant gift to be made

to those Commissioners.

(c) In considering an application for a determinationunder this subsection, the Minister or, as appro-30priate, the Commissioners of Public Works inIreland shall consider such evidence as the personmaking the application submits.

(d) On receipt of an application for a determinationunder this subsection, the Minister or, as appro-35priate, the Commissioners of Public Works inIreland shall request the Revenue Commissioners inwriting to value the property in accordance with sub-section (3).

(e) The Minister or, as appropriate, the Commissioners40of Public Works in Ireland shall not, during any cal-endar year, make a determination under this subsec-tion where the market value of the property, asdetermined by the Revenue Commissioners inaccordance with subsection (3), at the valuation date45exceeds an amount determined by the formula

6,000,000 M

where

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M is an amount (which may be nil) equal to themarket value at the valuation date of the heri-tage property (if any) or the aggregate of themarket values at the respective valuation datesof all the heritage properties (if any), as the case 5may be, in respect of which a determination hasbeen made or determinations have been made,as the case may be, under this subsection

whether by the Minister or by the Commis-sioners of Public Works in Ireland in that calen- 10dar year and not revoked in that calendar year.

(f) The Commissioners of Public Works in Ireland shallnot make a determination under this subsectionwithout the consent in writing of the Minister forFinance and any such determination shall be subject 15to such conditions as may be specified by the Mini-ster for Finance.

(g) The Minister and the Commissioners of Public Worksin Ireland shall, as appropriate, consult with eachother in connection with the general application of 20

this section and in particular for the purposes of theapplication of paragraph (e).

(h) (i) A property shall cease to be a heritage propertyfor the purposes of this section if

(I) the property is sold or otherwise disposed of 25to a person other than the Trust or, asappropriate, the Commissioners of PublicWorks in Ireland,

(II) the owner of the property notifies the Trustor, as appropriate, the Commissioners of 30Public Works in Ireland in writing that it isnot intended to make a gift of the propertyto the Trust or, as appropriate, those Com-missioners, or

(III) the gift of the property is not made to the 35Trust or, as appropriate, to the Commis-sioners of Public Works in Ireland by theend of the calendar year following the cal-endar year in which the determination ismade under this subsection. 40

(ii) Where the Minister becomes aware or, as appro-priate, the Commissioners of Public Works in

Ireland become aware, at any time within thecalendar year in which a determination underthis subsection is made in respect of a property, 45that clause (I) or (II) of subparagraph (i) appliesto the property, the Minister or, as appropriate,those Commissioners may revoke the determi-nation with effect from that time..

(3) Section 1003A of the Principal Act is amended by substituting 50the following for subsection (4):

(4) Where a relevant gift is made to the Trust or, as appro-priate, to the Commissioners of Public Works in Ireland

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(a) the Trust or, as appropriate, those Commissionersshall give a certificate to the person who made therelevant gift, in such form as the Revenue Commis-sioners may prescribe, certifying the receipt of thatgift and the transfer of the ownership of the heritage5property the subject of that gift to the Trust or, asappropriate, to the Commissioners of Public Worksin Ireland, and

(b) the Trust or, as appropriate, the Commissioners ofPublic Works in Ireland shall transmit a duplicate of10the certificate to the Revenue Commissioners..

29.(1) Chapter 2 of Part 18 of the Principal Act is amended insection 530 by inserting the following after the definition ofrelevanttax deduction card:

return period, in relation to the principal concerned, means15the period specified in a notice in writing given by the RevenueCommissioners to that principal, being a period of one or moreincome tax months, in respect of which the principal is required

under section 531(3A) to make a return to the Collector-General;.20

(2) Chapter 2 of Part 18 of the Principal Act is amended insection 531

(a) by substituting the following for paragraph (a) of subsec-tion (3A):

(a) Not later than 14 days after the end of a return25period, a principal or any person who was pre-viously a principal and who has been requiredto do so by notice in writing from the RevenueCommissioners, shall

(i) make a return to the Collector-General, on30the prescribed form, of the amount, if any,of tax which that person was liable underthis section to deduct from paymentsmade to uncertified subcontractors duringthat return period, and35

(ii) remit to the Collector-General the amountof the tax, if any, which the person was soliable to deduct.,

(b) by inserting the following after paragraph (b) of subsec-tion (3A):40

(c) The Revenue Commissioners may make regu-lations with respect to the provision to them,by a principal or other person as is referred toin paragraph (a), of such information as maybe specified in the regulations in relation to the45constituent elements of the amount (if any)referred to in paragraph (a)(i).,

(c) in subsection (3AA) by substituting then subsection (3A)shall apply and have effect as if23 days were substitutedfor 14 days for then subsection (3A) shall apply and50have effect as if the 23rd day of an income tax month

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Payments tosubcontractors incertain industries.

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Amendment ofsection 731(chargeable gainsaccruing to unittrusts) of PrincipalAct.

were substituted for the 14th day of an income taxmonth ,

(d) in subsection (3B)(b)

(i) by substituting return period or periods for incometax month or months in both places where it 5occurs, and

(ii) by substituting those return periods for thoseincome tax months,

(e) in subsection (6)(a)(i) by substituting a period coveringnot more than 2 years of assessment for a year of 10assessment,

(f) in subsection (10)(i) by substituting return period orperiods for income tax month or months in bothplaces where it occurs,

(g) in subsection (10)(ii) 15

(i) by substituting each return period for each incometax month, and

(ii) by substituting the return period for the incometax month,

and 20

(h) by substituting the following for paragraph (f) of subsec-tion (12):

(f) Where a specified limit has been applied bythem for a year of assessment in relation to arelevant payments card by virtue of paragraph 25

(e), the Revenue Commissioners, either at therequest of the subcontractor named on thecard or otherwise, may, as they consider itappropriate, amend the limit by reducing,increasing or removing it.. 30

30.(1) Section 731 of the Principal Act is amended in subsection(5) by substituting the following for paragraph (a)

(a) (i) Where throughout a year of assessment all theissued units in a unit trust which neither is, noris deemed to be, an authorised unit trust scheme 35(within the meaning of the Unit Trusts Act

1990) are assets such that if those units were dis-posed of by the unit holder any gain accruingwould be wholly exempt from capital gains tax(otherwise than by reason of residence or by vir- 40tue of section 739(3)), then gains accruing to theunit trust in that year shall not be chargeablegains.

(ii) Where the trustees, or any persons duly author-ised to act on their behalf, of a unit trust to 45which subparagraph (i) applies are satisfied that,throughout a year of assessment, all the issuedunits in the unit trust are assets referred to in

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subparagraph (i), then they shall, in respect ofthat year of assessment, make a declaration tothat effect.

(iii) The trustees, or any persons duly authorised toact on their behalf, of every unit trust to which5subparagraph (i) applies shall in respect of eachyear of assessment, on or before 28 February in

the year following the year of assessment, makea statement to the Revenue Commissioners inelectronic format approved by them, which in10respect of that year of assessment

(I) states whether a declaration as referred toin subparagraph (ii) has, or has not, beenmade, and

(II) specifies in respect of each person who is a15unit holder

(A) the name and address of the person, and

(B) such other information as the RevenueCommissioners may require.

(iv) Where the trustees, or any persons duly author-20ised to act on their behalf, of a unit trust

(I) make an incorrect or incomplete statementunder subparagraph (iii), or

(II) fail, without reasonable excuse, to make sucha statement,25

then the trustees of that unit trust shall be liableto a penalty of 3,000. For the purposes of the

recovery of a penalty under this subparagraph,section 1061 shall apply in the same manner as itapplies for the purposes of the recovery of a pen-30alty under any of the sections referred to in thatsection..

(2) This section shall apply for the year of assessment 2010 andsubsequent years of assessment.

31.(1) Part 27 of the Principal Act is amended35

(a) in section 739B by substituting the following for the defini-tion ofqualifying management company:

qualifying management company, in relation to aninvestment undertaking, means a company which, in thecourse of a trade of managing investments, manages the40whole or any part of the investments and other activitiesof the business of the undertaking;,

(b) in section 739D, by inserting the following subsection aftersubsection (7A):

(7B) (a) A gain shall not be treated as arising to an45investment undertaking on the happening of achargeable event in respect of a unit holder

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where, immediately before the chargeableevent, the investment undertaking is in pos-session of written notice of approval from theRevenue Commissioners to the effect that sub-section (7) is deemed to have been complied 5with in respect of the unit holder, and thatapproval has not been withdrawn.

(b) The Revenue Commissioners may give to aninvestment undertaking the approval, referredto in paragraph (a), that subsection (7) is 10deemed to have been complied with

(i) as respects any unit holder or class of unitholder, and

(ii) subject to such conditions as they considernecessary so as to satisfy themselves that, 15at the time the approval is granted, appro-priate equivalent measures have been putin place by the investment undertaking toensure that unit holders in that investment

undertaking are not resident or ordinarily 20resident in the State.

(c) (i) The Revenue Commissioners may bynotice in writing withdraw any approvalgiven under paragraph (b) if an invest-ment undertaking has failed to comply 25with any of the conditions subject to whichthe approval was given.

(ii) Where approval is withdrawn in accordancewith subparagraph (i), paragraph (a) shallnot apply from such date, and in respect 30of such unit holder or class of unit holder,

as may be specified in the notice.(d) The Revenue Commissioners may nominate in

writing an inspector or other officer to performany acts and discharge any functions author- 35ised by this subsection to be performed or dis-charged by the Revenue Commissioners.,

and

(c) by inserting the following after section 747F:

Chapter 5 40

Relevant UCITSTax treatmentof relevantUCITS.

747G.(1) In this section

management company, in relation to a rel-evant UCITS, means a management com-pany within the meaning of the relevant 45Directives;

relevant Directives means Directive2009/65/EC of the European Parliamentand of the Council of 13 July 20092 on the

2OJ No. L302 of 17 November 2009, p.32

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coordination of laws, regulations andadministrative provisions relating to under-takings for collective investment in trans-ferable securities (UCITS), and anyDirective amending that Directive;5

relevant profits, in relation to a relevantUCITS, means the profits which would be

relevant profits (within the meaning ofsection 739B) if the relevant UCITS werean investment undertaking (within the10meaning of that section);

relevant UCITS means an undertaking forcollective investment in transferablesecurities

(i) to which the relevant Directives15apply,

(ii) which is formed under the lawsof any of the Member States of

the European Union other thanthe State, and20

(iii) (I) the management companyof which is authorisedunder any laws of the Statewhich implement the rel-evant Directives, and25

(II) which, if the managementcompany were not so auth-orised, would not be liableto tax in the State.

(2) Notwithstanding anything in the Tax30Acts and the Capital Gains Tax Acts, a rel-evant UCITS shall not be chargeable to taxin respect of relevant profits.

(3) An interest in a relevant UCITSshall be treated for the purposes of this Part35as an interest in a company, scheme orarrangement specified in section 743(1)..

(2) This section comes into operation on the passing of this Act.

32

.(1) Section 1035A of the Principal Act is amended in subsec-tion (1)40

(a) in the definition ofauthorised agent in paragraph (a)(ii)by substituting revoked, for revoked, or, in para-graph (b) by substituting revoked, or for revoked,and by inserting the following paragraph after para-graph (b):45

(c) a company

(i) authorised under any laws of the State thatimplement the relevant Directives, and

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Amendment ofsection 1035A(relieving provisionto section 1035) ofPrincipal Act.

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Dividendwithholding tax.

(ii) which carries on a trade which consists ofor includes the management of unit trusts,common contractual funds or investmentcompanies, or any combination thereof,each of which is a relevant UCITS,, 5

(b) in the definition ofinvestment business services by sub-stituting 1995; for 1995., and

(c) after the definition of investment business services byinserting the following:

relevant Directives means Directive 2009/65/EC of the 10European Parliament and of the Council of 13 July 20093

on the coordination of laws, regulations and administrativeprovisions relating to undertakings for collective invest-ment in transferable securities (UCITS), and any Directiveamending that Directive; 15

relevant UCITS means an undertaking for collectiveinvestment in transferable securities

(i) to which the relevant Directives apply, and

(ii) which is formed under the laws of any of theMember States of the European Union other 20than the State..

(2) This section comes into operation on the passing of this Act.


(a) in section 172D(3)(b) by substituting where the declar-ation made is a current declaration (within the meaning 25

of paragraph 2A of that Schedule) for in relation towhich declaration each of the certificates referred to inclause (i), the certificate referred to in clause (ii) or, asthe case may be, the certificate referred to in clause (iii),of subparagraph (f) of that paragraph is a current certifi- 30cate (within the meaning of paragraph 2 of thatSchedule),

(b) in section 172F(3)(a) by substituting the following for sub-paragraph (ii):

(ii) a declaration made by that person in 35accordance with section 172D(3)

(I) in relation to which the certificatereferred to in paragraph 8(f) ofSchedule 2A is a current certificate(within the meaning of paragraph 2 of 40that Schedule), or

(II) which is a current declaration (withinthe meaning of paragraph 2A ofSchedule 2A),,

(c) in section 172I 453OJ No. L302 of 17 November 2009, p.32

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(i) in subsection (1) by inserting , or by means of elec-tronic communications, after in writing,

(ii) in subsection (1A)

(I) by inserting or the recipient of a relevant distri-bution after to an intermediary,5

(II) in paragraph (a) by inserting delivered to anintermediary after the statement, and

(III) in paragraph (b) by inserting or the recipient ofthe relevant distribution after theintermediary,10

(d) in section 172J(4) by deleting in writing,

(e) in paragraph 2 of Schedule 2A by deleting or 9(f),

(f) in Schedule 2A by inserting the following after paragraph2:

Currency of certain declarations15

2A. A declaration referred to in paragraph 9 shallbe treated as a current declaration for theperiod from the date of the making of the dec-laration to the 31st day of December in thefifth year following the year in which the dec-20laration was made.,

(g) in paragraph 9 of Schedule 2A by substituting the follow-ing for subparagraph (e):

(e) contains

(i) the name and address of that company,25

(ii) the name of the territory in which thecompany is resident for the purposesof tax,

(iii) in the case of a company within themeaning of section 172D(3)(b)(ii),30the name of the relevant territory ornames of the relevant territories, asthe case may be, in which the personor persons who control (within themeaning of section 172D(4)(a)),35whether directly or indirectly, thecompany is or are resident for the

purposes of tax by virtue of the lawof that territory or the laws of thoseterritories, and40

(iv) in the case of a company within themeaning of section 172D(3)(b)(iii),the name and address of a recognisedstock exchange on which the principalclass of the shares of the company or45

(I) where the company is a 75 percent subsidiary (within the mean-ing of section 172D(5)) of

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Amendment ofsection 175(purchase of ownshares by quotedcompany) ofPrincipal Act.

another company, of that othercompany, or

(II) where the company is whollyowned (within the meaning ofsection 172D(6)) by 2 or more 5companies, of each of thosecompanies,

is substantially and regularly traded,,

and

(h) by deleting paragraph 9(f) of Schedule 2A. 10

(2) This section applies to

(a) relevant distributions, and

(b) declarations referred to in section 172D(3)(b),

made on or after the date of the passing of this Act.

34.(1) Section 175 of the Principal Act is amended 15

(a) in subsection (1) by inserting where the redemption,repayment or purchase does not form part of a schemeor arrangement the main purpose or one of the main pur-poses of which is to enable the owner of the shares toparticipate in the profits of the company or of any of 20its 51 per cent subsidiaries without receiving a dividendafter shares,

(b) by inserting the following after subsection (1):

(1A) (a) Where in any accounting period a quoted com-pany makes a payment on the redemption, 25repayment or purchase of its own shares, thecompany shall, not later than 12 months fromthe end of the accounting period, give noticeto the Collector-General, or such other officerof the Revenue Commissioners as may be 30authorised by them for the purposes of thissubsection, of

(i) the payment, and

(ii) whether the payment is to be treated as not

being a distribution by virtue of subsec- 35tion (1).

(b) A notice under paragraph (a) shall be given bya company

(i) in the return required to be made undersection 951 for the accounting period of 40the company in which the payment ismade, or

(ii) in such manner and form as the RevenueCommissioners may prescribe.,

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and

(c) in subsection (2) by substituting subsections (1) and(1A) for subsection (1).

(2) This section applies to payments referred to in section 175 ofthe Principal Act which are made on or after 4 February 2010.5


(a) by substituting the following for section 42:

Exemption ofinterest onsavingscertificates.

42.(1) In this section

EEA Agreement means the Agreementon the European Economic Area signed at10Oporto on 2 May 1992, as adjusted by theProtocol signed at Brussels on 17 March1993;

EEA State means a state which is a con-

tracting party to the EEA Agreement;15relevant State means

(i) a Member Sta

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