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Uimhir 17 de 1974
AN tACHT AIRGEADAIS (CÁNACHAS AR BHRABÚIS MHIANACH ÁIRITHE), 1974
[An tiontú oifigiúil]
Léiriú.
1920, c. 18.
1.—(1) San Acht seo, ach amháin a mhéid a fhoráiltear a mhalairt nó a éilíonn an comhthéacs a mhalairt—
ciallaíonn “Acht 1956” an tAcht Airgeadais (Brabúis Mhianach Áirithe) (Faoiseamh Sealadach ó Chánachas), 1956;
ciallaíonn “Acht 1967” an tAcht Cánach Ioncaim, 1967;
ciallaíonn “na hAchtanna a bhaineann le cáin bhrabús corparáide” Cuid V den Finance Act, 1920, agus na hachtacháin a leasaíonn nó a leathnaíonn an Chuid sin;
ciallaíonn “caiteachas forbartha” caiteachas caipitiúil—
(a) ag forbairt mianaigh cháilithigh, nó
(b) ag déanamh aon oibreacha i ndáil le mianach cáilitheach is oibreacha de shaghas gur dócha, nuair a scoirfear den mhianach a oibriú, go mbeidh a luach chomh laghdaithe sin gur beag is fiú iad, nó nach fiú dada iad,
agus folaíonn sé ús ar airgead a fuarthas ar iasacht chun íoc as an gcaiteachas caipitiúil sin, ach ní fholaíonn sé—
(c) caiteachas chun láithreán an mhianaigh nó láithreán aon oibreacha den sórt sin nó cearta in aon láithreán nó thar aon láithreán den sórt sin a fháil, ná
(d) caiteachas chun sócmhainn mhianra sceidealta a fháil, ná
(e) caiteachas ar oibreacha a rinneadh go hiomlán nó go formhór chun amhtháirge an mhianaigh a chur faoi aon phróis seachas próis a ceapadh chun an t-amhtháirge a ullmhú chun a úsáidte sa cháil sin;
ciallaíonn “caiteachas taiscealaíochta” caiteachas caipitiúil ag cuardach sa Stát ar lorg foslach mianraí sceidealta nó ag tástáil na bhfoslach sin nó ag déanamh bealaigh chucu agus folaíonn sé caiteachas caipitiúil ag cuardach go riail-eagartha ar lorg limistéir ina bhfuil mianraí sceidealta agus ag cuardach trí tholladh nó ar dhóigh eile ar lorg mianraí sceidealta sna limistéir sin, ach ní fholaíonn sé caiteachas ar oibríochtaí le linn mianach cáilitheach a bheith á oibriú ná caiteachas is caiteachas forbartha;
tá le “liúntas forbartha mhianaigh” an bhrí chéanna atá leis in alt 245 d'Acht 1967;
ciallaíonn “mianach cáilitheach” mianach atá á oibriú chun mianraí sceidealta a fháil;
ciallaíonn “sócmhainn mhianra sceidealta” foslach mianraí sceidealta nó talamh ina bhfuil foslach den sórt sin nó leas san fhoslach nó sa talamh sin nó ceart thairis;
tá le “mianraí sceidealta” an bhrí chéanna atá leis in alt 382 d'Acht 1967;
ciallaíonn “cáin” cáin ioncaim, forcháin nó cáin bhrabús corparáide, de réir mar is iomchuí.
(2) Ach amháin mar a fhoráiltear in ailt 3, 4 agus 5, ní mheasfar, chun críocha an Achta seo, caiteachas a bheith tabhaithe ag duine ag seoladh trádála dó ag oibriú mianaigh cháilithigh a mhéid a íocadh nó a íocfar an caiteachas sin go díreach nó go neamhdhíreach as airgead arna sholáthar ag an Oireachtas nó ag aon duine eile (nach duine a bhí ag seoladh trádála ag oibriú an mhianaigh sin).
(3) Déanfar aon tagairtí san Acht seo d'aon achtachán a fhorléiriú, mura n-éilíonn an comhthéacs a mhalairt, mar thagairtí don achtachán sin arna leasú nó arna leathnú le haon achtachán ina dhiaidh sin.
(4) San Acht seo aon tagairt d'alt is tagairt í d'alt den Acht seo mura gcuirtear in iúl gur tagairt d'achtachán éigin eile atá beartaithe.
(5) San Acht seo aon tagairt d'fho-alt nó do mhír is tagairt í don fho-alt nó don mhír den fhoráil ina bhfuil an tagairt mura gcuirtear in iúl gur tagairt d'fhoráil éigin eile atá beartaithe.
Liúntas i leith caiteachais fhorbartha agus caiteachais taiscealaíochta.
2.—(1) I gcás duine a sheolann trádáil ag oibriú mianaigh cháilithigh do thabhú aon chaiteachais fhorbartha nó caiteachais taiscealaíochta an 6ú lá d'Aibreán, 1974, nó dá éis, agus é do dhéanamh iarratais faoi alt 245 d'Acht 1967 ar liúntas forbartha mhianaigh do bhliain mheasúnachta i leith an chaiteachais sin—
(a) measfar gur caiteachas ar féidir an liúntas sin a dheonú ina leith an caiteachas sin, cibé acu a fuarthas nó nach bhfuarthas, i gcás caiteachais taiscealaíochta, foslach mianraí sceidealta de thoradh an chaiteachais,
(b) beidh méid an liúntais sin don bhliain mheasúnachta sin comhionann lena n-iomlán seo a leanas—
(i) an caiteachas taiscealaíochta, agus
(ii) i gcás caiteachais fhorbartha, méid an difir idir an caiteachas sin agus an méid is dóigh leis an gcigire is fiú na sócmhainní in ionannas leis an gcaiteachas sin i ndeireadh marthanacht mheasta an mhianaigh réamhráite, agus
(c) maidir le cás ina raibh éifeacht ag an alt seo, déanfar aon tagairt sna hAchtanna Cánach Ioncaim do liúntas a tugadh faoin alt sin 245 a fhorléiriú mar thagairt a fholaíonn tagairt do liúntas a tugadh faoin alt sin de bhua an ailt seo:
Ar choinníoll nach gcuirfear i gcuntas, chun críocha an ailt seo, caiteachas taiscealaíochta nach bhfuarthas foslach mianraí sceidealta dá thoradh más breis agus deich mbliana roimh an dáta a thosaigh an duine réamhráite ar oibriú mianaigh cháilithigh a sheoladh mar thrádáil a tabhaíodh an caiteachas.
(2) I gcás duine a sheolann trádáil ag oibriú mianaigh cháilithigh do thabhú caiteachais chaipitiúil roimh an 6ú lá d'Aibreán, 1974, a raibh sé i dteideal, faoi alt 245 d'Acht 1967, liúntas forbartha mhianaigh a iarraidh ina leith agus suim den chaiteachas sin a bheith gan lamháil fós ar an dáta sin, féadfaidh an duine a roghnú go ndéanfaí méid an liúntais fhorbartha mhianaigh don bhliain mheasúnachta 1974-75 i leith an chaiteachais sin a mhéadú go dtí méid is ionann agus an méid den chaiteachas a bhí gan lamháil amhlaidh.
(3) San alt seo áireofar gurb é an méid caiteachais a bhí gan lamháil fós an 6ú lá d'Aibreán, 1974, méid an difir mheasta, de réir brí alt 245 (5) (b) d'Acht 1967, lúide aon liúntas forbartha mhianaigh a deonaíodh, nó a meastar faoi alt 245 (13) den Acht sin a bheith arna dheonú, d'aon bhliain mheasúnachta roimh an mbliain mheasúnachta 1974-75.
(4) Ní thabharfar aon liúntas faoi fho-alt (1) i leith caiteachas a tabhaíodh roimh an 6ú lá d'Aibreán, 1974, cibé acu a mheasfar nó nach measfar, de bhua aon fhorála den Acht seo, den Acht Airgeadais, 1946, nó d'Acht 1967, gur ar an dáta sin nó dá éis a tabhaíodh é.
Caiteachas ar thaiscealaíocht gan toradh.
3.—(1) I gcás duine a bhí ag seoladh trádála ag oibriú mianaigh cháilithigh an 6ú lá d'Aibreán, 1974, agus a thabhaigh caiteachas taiscealaíochta an 6ú lá d'Aibreán, 1967, nó dá éis, ach roimh an 6ú lá d'Aibreán, 1974, agus nach i ndáil leis an mianach cáilitheach sin a tabhaíodh an caiteachas sin, ansin, le linn brabúis nó gnóchain na trádála sin don bhliain mheasúnachta 1974-75 a bheith á muirearú i leith cánach, lamhálfar asbhaint ar cóimhéid leis an gcaiteachas sin.
(2) I gcás duine a thosaigh ar thrádáil a sheoladh ag oibriú mianaigh cháilithigh tar éis an 6ú lá d'Aibreán, 1974, agus gur thabhaigh sé caiteachas taiscealaíochta an 6ú lá d'Aibreán, 1967, nó dá éis, agus nach i ndáil leis an mianach cáilitheach sin a tabhaíodh an caiteachas sin ach gur i dtréimhse deich mbliana roimh an dáta a thosaigh sé ag seoladh na trádála sin a tabhaíodh é, ansin, le linn brabúis nó gnóchain na trádála sin don bhliain mheasúnachta a thosaigh sé ag seoladh na trádála sin a bheith á muirearú i leith cánach, lamhálfar asbhaint ar cóimhéid leis an gcaiteachas sin.
(3) Más rud é, i gcás dá dtagraítear i bhfo-alt (1) nó (2), gur comhlacht corpraithe an duine lena mbaineann agus go raibh nó go bhfuil, tar éis dó an caiteachas go léir dá dtagraítear sa chás sin nó cuid den chaiteachas sin a thabhú, athrú, de réir brí an Chúigiú Sceideal a ghabhann leis an Acht Airgeadais, 1973, ar úinéireacht an chomhlachta chorpraithe nó ar úinéireacht comhlachta chorpraithe is máthairchomhlacht nó fochomhlacht ar lánúinéireacht, de réir brí alt 4, ag an gcomhlacht corpraithe chéadluaite, ní lamhálfar aon asbhaint faoin alt seo i leith aon chuid den chaiteachas sin a tabhaíodh roimh an dáta a athraíodh an úinéireacht:
Ar choinníoll, in aon chás ina bhfaighidh Aire Stáit cuid de ghnáthscairchaipiteal aon chomhlachta chorpraithe, go ndéanfar neamhshuim den fháil sin nuair a bheifear á chinneadh an raibh nó an bhfuil athrú den sórt sin a dúradh ar úinéireacht.
(4) I gcás duine tosú an 6ú lá d'Aibreán, 1974, nó dá éis, ar thrádáil a sheoladh ag oibriú mianaigh cháilithigh ach nach é a thabhaigh an caiteachas taiscealaíochta a tabhaíodh i ndáil leis an mianach sin, ní thabharfar aon liúntas faoin alt seo ná de bhua alt 2 i leith caiteachas taiscealaíochta a thabhaigh an duine sin roimh an dáta a thosaigh sé ag seoladh na trádála sin.
(5) Ní bheidh duine i dteideal asbhainte ná liúntais i leith an chaiteachais chéanna faoin alt seo agus freisin faoi fhoráil éigin eile de na hAchtanna Cánach Ioncaim nó de na hAchtanna a bhaineann le cáin bhrabús corparáide.
Caiteachas taiscealaíochta a thabhaigh comhlachtai corpraithe áirithe.
4.—(1) I gcás caiteachas taiscealaíochta, ar féidir liúntas a éileamh ina leith de bhua alt 2 nó alt 3, a thabhú ag comhlacht corpraithe (dá ngairtear an chuideachta thaiscealaíochta san alt seo) agus—
(a) gur fochomhlacht, nó go meastar gur fochomhlacht, ar lánúinéireacht ag an gcuideachta thaiscealaíochta comhlacht corpraithe eile, nó
(b) gur fochuideachta, nó go meastar gur fochuideachta, ar lánúinéireacht ag comhlucht corpraithe eile an chuideachta thaiscealaíochta,
ansin, an caiteachas nó an méid sin de a shonróidh an chuideachta thaiscealaíochta—
(i) sa chás dá dtagraítear i mír (a), féadfar, de rogha na cuideachta taiscealaíochta, a mheas gur tabhaíodh é ag cibé comhlacht corpraithe eile (is é sin, comhlacht corpraithe ar fochuideachta, nó a meastar gur fochuideachta, é ar lánúinéireacht ag an gcuideachta thaiscealaíochta) a shonróidh an chuideachta thaiscealaíochta,
(ii) sa chás dá dtagraítear i mír (b), féadfar, de rogha na cuideachta taiscealaíochta, a mheas gur tabhaíodh é ag an gcomhlacht corpraithe (dá ngairtear an máthairchomhlacht anseo feasta) a raibh an chuideachta thaiscealaíochta tráth an chaiteachais a thabhú ina fochuideachta ar lánúinéireacht aige nó ag cibé comhlacht corpraithe eile (is é sin comhlacht corpraithe ar fochomhlacht, nó a meastar gur fochomhlacht é ar lánúinéireacht ag an máthairchomhlacht) a shonróidh an chuideachta thaiscealaíochta,
agus i gcás inar ar dháta roimh dháta an chomhlachta chorpraithe a bheidh sonraithe amhlaidh a chorprú a tabhaíodh an caiteachas sin, beidh feidhm, maidir le haon liúntas a thabhairt i leith an chaiteachais sin, ag forálacha an Achta seo, ionann is dá mbeadh an comhlacht corpraithe sin ann tráth an chaiteachais a thabhú agus gur thabhaigh sé an caiteachas an tráth sin:
Ar choinníoll—
(i) nach gcuirfear an caiteachas céanna i gcuntas maidir le breis agus trádáil amháin de bhua an ailt seo, agus
(ii) nach dtabharfar asbhaint ná liúntas i leith an chaiteachais chéanna de bhua an ailt seo agus freisin faoi fhoráil éigin eile de na hAchtanna Cánach Ioncaim nó de na hAchtanna a bhaineann le cáin bhrabús corparáide.
(2) Measfar, chun críocha fho-alt (1), maidir le comhlacht corpraithe, gur fochomhlacht é atá ar lánúinéireacht ag comhlacht corpraithe eile má tá agus fad atá a ghnáth-scairchaipiteal go léir ar úinéireacht ag an gcomhlacht corpraithe eile sin go díreach nó trí chomhlacht corpraithe eile nó trí chomhlachtaí corpraithe eile, nó i bpáirt go díreach agus i bpáirt trí chomhlacht corpraithe eile nó trí chomhlachtaí corpraithe eile:
Ar choinníoll, i gcás cuid de ghnáth-scairchaipiteal aon chomhlachta chorpraithe a bheith ar teachtadh ag Aire Stáit agus an chuid eile de ghnáth-scairchaipiteal an chomhlachta chorpraithe sin a bheith ar teachtadh ag comhlacht corpraithe eile, go measfar, chun críocha fho-alt (1), gur fochomhlacht atá ar lánúinéireacht ag an gcomhlacht corpraithe sin is deireanaí atá luaite an comhlacht corpraithe chéadluaite.
(3) Beidh feidhm ag forálacha Chuid II den Chúigiú Sceideal a ghabhann leis an Acht Airgeadais, 1973, chun méid an ghnáth scairchaipitil atá ar teachtadh i gcomhlacht corpraithe trí chomhlachtaí corpraithe eile a chinneadh.
Caiteachas ag duine agus gan é ag gabháil do mhianadóireacht.
5.—(1) I gcás inar thabhaigh duine, an 6ú lá d'Aibreán, 1974, nó roimhe nó dá éis, caiteachas taiscealaíochta trína bhfuarthas foslach de mhianraí sceidealta agus go ndearna sé, gan aon trádáil a dhéanamh arbh éard í nó ar chuid di an foslach sin a oibriú agus gan éileamh a dhéanamh ar aon liúntas ná asbhaint faoi réim ná de bhua an Achta seo i leith an chaiteachais sin, aon sócmhainní is ionannas don chaiteachas sin a dhíol le duine eile, ansin, má sheolann an duine eile sin trádáil mar a dúradh i ndáil leis an bhfoslach sin, measfar, chun críocha an Achta seo, gur thabhaigh an duine eile sin, chun críocha na trádála agus i ndáil leis an bhfoslach, caiteachas taiscealaíochta ar cóimhéid leis an gcaiteachas taiscealaíochta arb ionannas dó na sócmhainní nó an praghas a d'íoc sé ar na sócmhainní, cibé acu is lú, agus measfar gur ar an dáta a thosaigh sé ag gabháil don trádáil réamhráite a thabhaigh sé an caiteachas sin.
(2) Aon duine a éileoidh liúntas de bhua fho-alt (1) i leith caiteachas arb ionannas dó na sócmhainní a fuair sé, ní mheasfar an caiteachas sin a bheith tabhaithe aige mura mbeidh de thoradh ar an bhfoslach réamhráite a oibriú cainníochtaí réasúnacha tráchtála de mhianraí sceidealta a tháirgeadh.
(3) Ní thabharfar asbhaint ná liúntas i leith an chaiteachais chéanna faoin alt seo agus freisin faoi fhoráil éigin eile de na hAchtanna Cánach Ioncaim nó de na hAchtanna a bhaineann le cáin bhrabús corparáide.
(4) Ní bhainfidh alt 6 le caiteachas a dtabharfar liúntas ina leith de bhua an ailt seo.
Liúntas infheistíochta i leith caiteachais taiscealaíochta.
6.—(1) I gcás duine a sheolann trádáil ag oibriú mianaigh cháilithigh do thabhú caiteachas taiscealaíochta an 6ú lá d'Aibreán, 1974, nó dá éis, a bhfuil éifeacht ag alt 2 ina leith, tabharfar dó, i dteannta aon liúntais fhorbartha mhianaigh a tugadh i leith an chaiteachais sin, in aghaidh na bliana measúnachta ar tugadh an liúntas forbartha mhianaigh sin ina haghaidh, liúntas (dá ngairfear liúntas infheistíochta taiscealaíochta) ar cóimhéid leis an gcúigiú cuid den chaiteachas sin agus bainfidh alt 245 (6) d'Acht 1967 le liúntas infheistíochta taiscealaíochta mar a bhaineann sé le liúntas forbartha mhianaigh.
(2) Ní thabharfar aon liúntas faoin alt seo i leith caiteachas taiscealaíochta—
(a) a tabhaíodh roimh an 6ú lá d'Aibreán, 1974, cibé acu a mheasfar nó nach measfar, de bhua aon fhorála den Acht seo, den Acht Airgeadais, 1946, nó d'Acht 1967, gur ar an dáta sin nó dá éis a tabhaíodh é, nó
(b) a mheasfar a bheith tabhaithe ag duine seachas an duine a thabhaigh an caiteachas:
Ar choinníoll nach mbeidh feidhm ag an mír seo maidir le caiteachas a mheasfar, faoi alt 4, a bheith tabhaithe ag comhlacht corpraithe seachas an comhlacht corpraithe a thabhaigh an caiteachas.
Liúntais d'innealra agus do ghléasra.
7.—(1) I gcás innealra nua nó gléasra nua (seachas feithiclí atá oiriúnach chun daoine nó earraí a iompar de bhóthar nó chun feithiclí eile a tharraingt ar bóthar) a sholáthar an 6ú lá d'Aibreán, 1974, nó dá éis, lena n-úsáid chun críche trádála ag oibriú mianaigh cháilithigh, ansin, murab innealra nó gléasra cáilitheach an t-innealra nó an gléasra sin, measfar chun críche alt 11 den Acht Airgeadais, 1967, gur innealra nó gléasra cáilitheach é.
(2) I gcás inar thabhaigh duine a sheolann trádáil ag oibriú mianaigh cháilithigh caiteachas caipitiúil roimh an 6ú lá d'Aibreán, 1974, ag soláthar innealra nó gléasra chun críocha na trádála sin, féadfar an méid den chaiteachas sin a bhí gan lamháil fós ar an dáta sin, de réir brí alt 274 d'Acht 1967, a lamháil, ar an duine dá roghnú sin, mar asbhaint le linn brabúis na trádála sin a bheith á muirearú i leith cánach don bhliain mheasúnachta 1974-75.
(3) I gcás duine a sheolann trádáil ag oibriú mianaigh cháilithigh do thabhú caiteachais chaipitiúil, an 6ú lá d'Aibreán, 1974, nó dá éis, ag soláthar innealra nua nó gléasra nua (seachas feithiclí atá oiriúnach chun daoine nó earraí a iompar de bhóthar nó chun feithiclí eile a tharraingt ar bóthar) chun críocha na trádála sin, tabharfar dó, don bhliain mheasúnachta sa bhonn-tréimhse ar ina haghaidh a tabhaíodh an caiteachas, liúntas ar cóimhéid leis an gcúigiú cuid den chaiteachas, agus tabharfar an liúntas sin mar asbhaint le linn brabúis nó gnóchain na trádála sin a bheith á muirearú i leith cánach agus is liúntas é in ionad aon liúntais i leith an innealra nó an ghléasra sin faoi alt 22 (2) den Acht Airgeadais, 1971.
(4) Beidh feidhm ag fo-ailt (3), (4) agus (5) d'alt 22 agus ag ailt 23, 24 agus 25 den Acht Airgeadais, 1971, amhail is dá gcuirfí fo-alt 23, 24 agus 25 den Acht Airgeadais, 1971, amhail is dá gcuirfí fo-alt a bhaineann siad le duine a sheolann trádáil ag oibriú mianaigh cháilithigh.
Liúntas bliantúil as ídiú mianra.
8.—(1) I gcás duine a sheolann trádáil ag oibriú mianaigh cháilithigh do thabhú caiteachais chaipitiúil tar éis an 31ú lá de Mhárta, 1974, ag fáil sócmhainn mhianra sceidealta a thugann teideal dó foslaigh de mhianraí sceidealta a oibriú agus é do thosú ag oibriú na bhfoslach sin i ndáil leis an trádáil sin, beidh sé i dteideal liúntais fhorbartha mhianaigh faoi alt 245 d'Acht 1967 i leith an chaiteachais chaipitiúil sin a mhéid a bheadh sé i dteideal an liúntais sin dá mba chaiteachas caipitiúil a tabhaíodh ag forbairt an mhianaigh an caiteachas caipitiúil sin, ach ní bheidh feidhm ag alt 2 i leith aon chaiteachais den sórt sin.
(2) I gcás duine a thosaigh nó a thosóidh, an 6ú lá d'Aibreán, 1974, nó dá éis, ar thrádáil a sheoladh ag oibriú mianaigh cháilithigh do thabhú caiteachais chaipitiúil roimh an dáta sin ag fáil sócmhainne mianra sceidealta i ndáil leis an mianach sin, measfar, chun críocha an ailt seo, gurb é an lá a thosaigh sé ag seoladh na trádála sin a thabhaigh sé an caiteachas sin agus beidh feidhm ag fo-alt (1) dá réir sin.
Liúntas i leith cánach brabús corparáide.
9.—Leasaítear leis seo alt 69 (1) den Acht Airgeadais, 1959, tríd an mír seo a leanas a chur isteach i ndiaidh mhír (c):
“(cc) liúntas faoin Acht Airgeadais (Cánachas ar Bhrabúis Mhianach Áirithe), 1974,”.
Liúntas mianaigh imeallaigh.
10.—(1) San alt seo—
ciallaíonn “mianach imeallach” mianach cáilitheach a dtabharfaidh an tAire Tionscail agus Tráchtála deimhniú ina leith á rá gur deimhin leis, má chuirtear na brabúis a fuarthas nó a gheofar as oibriú an mhianaigh sin faoi mhuirear cánach de réir forálacha na nAchtanna Cánach Ioncaim agus na nAchtanna a bhaineann le cáin bhrabús corparáide, ach gan forálacha an ailt seo a áireamh, gur dócha nach n-oibreofar an mianach nó nach leanfar dá oibriú.
(2) Féadfaidh an tAire Airgeadais, tar éis dó dul i gcomhairle leis an Aire Tionscail agus Tráchtála, a ordú, maidir le haon mhianach imeallach, go ndéanfar an cháin is inmhuirir ar bhrabúis an mhianaigh cháilithigh sin d'aon bhliain mheasúnachta áirithe nó d'aon tréimhse chuntasaíochta áirithe a laghdú go dtí cibé suim (lena n-áirítear nialas) a shonróidh sé.
(3) I gcás duine a bheith ag seoladh trádála ag oibriú mianaigh cháilithigh a dtabharfaidh an tAire Airgeadais ordú ina leith faoi fho-alt (2) maidir le bliain mheasúnachta nó tréimhse chuntasaíochta, tabharfar liúntas (dá ngairfear liúntas mianaigh imeallaigh) mar asbhaint le linn brabúis na trádála sin a bheith á muirearú i leith cánach ioncaim don bhliain mheasúnachta sin agus mar asbhaint le linn brabúis na trádála sin a bheith á ríomh chun críocha cánach brabús corparáide don tréimhse chuntasaíochta sin agus beidh sa liúntas cibé méid nó méideanna a áiritheoidh go mbeidh an cháin a mhuirearófar i leith brabúis na trádála sin ar cóimhéid leis an tsuim a bheidh sonraithe ag an Aire sin.
Cáin ioncaim a mhuirearú ar shuimeanna ó shócmhainní mianraí sceidealta a dhíol.
11.—(1) I gcás duine a chónaíonn sa Stát do dhíol aon sócmhainne mianra sceidealta tar éis an 31ú lá de Mhárta, 1974, agus gur suim chaipitiúil, go hiomlán nó go páirteach, an glanfháltas ón díol, muirearófar, faoi réir forálacha an ailt seo, cáin air faoi Chás IV de Sceideal D don bhliain mheasúnachta a gheobhaidh sé an tsuim ar chóimhéid na suime sin:
Ar choinníoll, más aonaí an duine sin agus go roghnóidh sé, trí fhógra i scríbhinn chuig an gcigire tráth nach déanaí ná dhá mhí dhéag tar éis deireadh na bliana measúnachta a íocfar an tsuim, go ndéanfaí é a mhuirearú i leith cánach don bhliain mheasúnachta sin agus do gach bliain de na cúig bliana measúnachta comhleanúnacha ina dhiaidh sin, ar shuim ar cóimhéid le séú cuid na suime sin, go muirearófar amhlaidh é.
(2) I gcás duine nach gcónaíonn sa Stát do dhíol aon sócmhainne mianra sceidealta tar éis an 31ú lá de Mhárta, 1974, agus gur suim chaipitiúil, go hiomlán nó go páirteach, an glanfháltas ón díol, ansin—
(a) muirearófar cáin air i leith na suime sin faoi Chás IV de Sceideal D don bhliain mheasúnachta a gheobhaidh sé an tsuim sin, agus
(b) bainfidh alt 434 d'Acht 1967 leis an tsuim sin amhail is dá mba íocaíocht bhliantúil í ab iníoctha ar dhóigh seachas as brabúis nó gnóchain a cuireadh faoi mhuirear cánach:
Ar choinníoll, más aonaí an duine sin agus go roghnóidh sé, trí fhógra i scríbhinn chuig na Coimisinéirí Ioncaim, tráth nach déanaí ná dhá mhí dhéag tar éis deireadh na bliana measúnachta a íocfar an tsuim, go n-áireofaí an tsuim sin chun críche cánach don bhliain sin agus do gach bliain de na cúig bliana comhleanúnacha ina dhiaidh sin amhail is dá mbeadh an séú cuid di, agus gan níos mó ná sin, ar áireamh in ioncam dá chuid is inmhuirir i leith cánach do gach bliain faoi seach de na blianta sin, go ndéileálfar léi amhlaidh, agus go ndéanfar gach aisíocaíocht agus measúnacht chánach do gach bliain díobh sin de réir mar is gá chun éifeacht a thabhairt don rogha, ach sin ar shlí áfach—
(i) nach ndéanfaidh an rogha difear don mhéid cánach a bheidh le hasbhaint agus a mbeidh cuntas le tabhairt air faoin alt sin 434,
(ii) má dhéantar aon suim a asbhaint faoin alt sin 434, gur ar mhodh aisíoc cánach a dhéanfar aon choigeartuithe is gá chun éifeacht a thabhairt don rogha, agus
(iii) go ndéanfar na coigeartuithe sin bliain ar bhliain agus amhail is dá mba go ndearnadh an séú cuid den tsuim a asbhaineadh a asbhaint i leith cánach in aghaidh gach bliana, agus nach ndéanfar an chuid sin, ná aon mhír den chuid sin, den cháin a asbhaineadh agus a áireofar a bheith asbhainte i leith cánach d'aon bhliain a aisíoc mura bhfionnfar agus go dtí go bhfionnfar gur lú an cháin (seachas forcháin) a bheidh le híoc faoi dheireadh don bhliain sin ná an méid cánach (seachas forcháin) a íocadh don bhliain sin.
(3) I gcás gur trína ceannach a fuair duine an tsócmhainn mhianra sceidealta a dhíolfaidh sé agus gur shuim chaipitiúil, go hiomlán nó go páirteach, an praghas a íocadh, beidh feidhm ag fo-ailt (1) agus (2) amhail is dá mbeadh aon suim chaipitiúil a gheobhaidh sé nuair a dhíolfaidh sé an tsócmhainn arna laghdú de mhéid na suime sin:
Ar choinníoll nach ndéanfaidh aon ní san fho-alt seo difear don mhéid cánach a bheidh le hasbhaint agus a mbeidh cuntas le tabhairt air faoi alt 434 d'Acht 1967 de bhua fho-alt (2), agus i gcás aon suim a asbhaint faoin alt sin 434 gur ar mhodh aisíoc cánach a dhéanfar aon choigeartú is gá le héifeacht a thabhairt d'fhorálacha an fho-ailt seo.
(4) I gcás ina bhfaighfear, de bhua ordú ón Aire Tionscail agus Tráchtála faoi alt 14 den Acht Forbairte Minearál, 1940, mianraí sceidealta nó cearta chun na mianraí sin a oibriú agus go n-íocfaidh an tAire sin cúiteamh le haon duine i leith na fála sin, measfar, chun críocha an ailt seo, sócmhainn mhianra sceidealta a bheith díolta ag an duine sin ar shuim chaipitiúil ar cóimhéid leis an gcúiteamh a íocadh leis agus bainfidh na forálacha sin roimhe seo den alt seo leis an gcúiteamh sin mar a bhaineann siad le suim chaipitiúil a fhaightear i leith sócmhainn mhianra sceidealta a dhíol.
(5) San alt seo agus in alt 12 folaíonn aon tagairt do cheart sóc mhainn mhianra sceidealta a dhíol tagairt do cheadúnas a thabhairt mianraí sceidealta a oibriú.
Cáin bhrabús corparáide a mhuirearú ar shuimeanna ó shócmhainní mianraí sceidealta a dhíol.
12.—I gcás comhlacht corpraithe do dhíol sócmhainne mianra sceidealta tar éis an 31ú lá de Mhárta, 1974, agus go mbeidh cáin ioncaim le muirearú, de bhua alt 11, ar an nglanfháltas ón díol, déanfar, chun críocha cánach brabús corparáide, an méid a bheidh le muirearú amhlaidh a áireamh mar bhrabúis nó mar ghnóchain a tháinig chun an chomhlachta chorpraithe sa tréimhse chuntasaíochta ar dháta ann an dáta a tháinig an glanfháltas sin chun bheith dlite agus cáin bhrabús corparáide a mhuirearú air dá réir sin.
Leasú ar alt 387 d'Acht 1967.
13.—(1) Leasaítear leis seo alt 387 (2) (a) d'Acht 1967, maidir le cuideachtaí a thosaigh nó a thosóidh ag trádáil i ndáil le mianach cáilitheach an 6ú lá d'Aibreán, 1974, nó roimhe nó dá éis, trí “dar tosach an lá tosaithe agus dar críoch an 5ú lá d'Aibreán, 1974” a chur in ionad “dhá chéad is daichead mí dar tosach an lá tosaithe” agus tá an t-alt sin 387 (2) (a), arna leasú amhlaidh, leagtha amach sa Tábla a ghabhann leis an alt seo.
(2) San alt seo agus in ailt 14 go 17 den Acht seo tá le “cuideachta” agus “mianach cáilitheach” na bríonna a shanntar dóibh faoi seach le hAcht 1956.
AN TáBLA |
387. (2) (a) Más as na brabúis a íocfar díbhinn go hiomlán nó go páirteach agus, maidir leis an díbhinn sin, gur laistigh de thréimhse (dá ngairtear an tréimhse díolúine anseo feasta sa Chaibidil seo) dar tosach an lá tosaithe agus dar críoch an 5ú lá d'Aibreán, 1974, a bheidh iomlán na tréimhse díbhinne, beidh an chuideachta i dteideal cáin ioncaim a asbhaint de réir alt 456 den chuid sin, más aon chuid é, den díbhinn a ghabhann thar an íocaíocht iomchuí, ach ní bheidh an chuideachta i dteideal cáin ioncaim a asbhaint as an íocaíocht iomchuí. |
Leasú ar alt 389 d'Acht 1967.
14.—Leasaítear leis seo alt 389 d'Acht 1967, maidir le cuideachtaí a thosaigh nó a thosóidh ag trádáil i ndáil le mianach cáilitheach an 6ú lá d'Aibreán, 1974, nó roimhe nó dá éis, trí “an 5ú lá d'Aibreán, 1974” a chur in ionad “deireadh an aonú bliain is fiche” sa dá áit ina bhfuil na focail sin agus tá an t-alt sin 389, arna leasú amhlaidh, leagtha amach sa Tábla a ghabhann leis an alt seo.
AN TáBLA |
389. Ní bheidh éifeacht ag an gCaibidil seo chun críocha cánach ioncaim maidir le haon bhliain mheasúnachta a thosóidh tar éis an 5ú lá d'Aibreán, 1974, ach ní chuirfidh an fhoráil seo cosc le halt 387 do bhaint le díbhinn a íocfar tar éis an 5ú lá d'Aibreán, 1974, i gcás iomlán na díbhinne, nó cuid di, a íoc as brabúis thréimhse a mbeidh a hiomlán, nó cuid di, laistigh den tréimhse díolúine. |
Deireadh le faoiseamh ó cháin ioncaim.
15.—Ní thabharfar faoiseamh ó cháin ioncaim faoi alt 386 d'Acht 1967 do chuideachta i leith aon bhliain mheasúnachta tar éis na bliana 1973-74, cibé acu is ar an 6ú lá d'Aibreán, 1974, nó roimhe nó dá éis a thosaigh an chuideachta ag trádáil i ndáil le mianach cáilitheach a oibriú.
Rogha maidir le cáin ioncaim a mhuirearú don bhliain 1974-75.
16.—(1) I gcás duine a sheolann trádáil ag oibriú mianaigh cháilithigh a bheith inmhuirir i leith cánach ioncaim don bhliain 1974-75 agus go ndéanfaí, de réir forálacha alt 58 (1) d'Acht 1967, é a mhuirearú i leith cánach ioncaim faoi Chás I de Sceideal D ar mhéid iomlán na mbrabús nó na ngnóchan don bhliain roimh an mbliain sin, féadfaidh sé a roghnú, trí fhógra i scríbhinn a thabharfar don chigire roimh an 1ú lá de Lúnasa, 1974, go muirearófaí i leith cánach ioncaim é don bhliain 1974-75 faoi threoir mhéid na mbrabús nó na ngnóchan don bhliain sin.
(2) Má dhéanann duine an rogha dá bhforáiltear i bhfo-alt (1), muirearófar i leith cánach ioncaim é don bhliain 1974-75 amhail is dá mba mhéid ar cóimhéid le méid iomlán na mbrabús nó na ngnóchan don bhliain 1974-75 méid iomlán na mbrabús nó na ngnóchan don bhliain roimh an mbliain sin 1974-75.
Deireadh le faoiseamh ó cháin bhrabús corparáide.
17.—(1) Faoi réir fho-alt (2), ní thabharfar faoiseamh ó cháin bhrabús corparáide faoi alt 6 d'Acht 1956 do chuideachta in aghaidh aon tréimhse cuntasaíochta de chuid na cuideachta dar críoch an 6ú lá d'Aibreán, 1974, nó dáta dá éis, cibé acu is ar an dáta sin nó roimhe nó dá éis a thosaigh an chuideachta ag trádáil i ndáil le mianach cáilitheach a oibriú.
(2) I gcás aon tréimhse chuntasaíochta den sórt sin de chuid cuideachta ar roimh an 6ú lá d'Aibreán, 1974, do chuid di agus ar an dáta sin nó dá éis do chuid eile di, cionroinnfear brabúis na cuideachta idir na codanna i gcomhréir le fad na gcodanna, agus, chun críocha fho-alt (1), ní dhéanfar ach an méid sin de na brabúis a chionroinnfear ar an dara cuid atá luaite a áireamh, chun críocha fho-alt (1), mar bhrabúis de chuid na cuideachta do thréimhse chuntasaíochta dar críoch an dáta sin nó dáta dá éis.
Gearrtheideal, forléiriú agus tosach feidhme.
18.—(1) Féadfar an tAcht Airgeadais (Cánachas ar Bhrabúis Mhianach Áirithe), 1974, a ghairm den Acht seo.
(2) Déanfar an tAcht seo, a mhéid a bhaineann sé le cáin ioncaim, a léamh agus a fhorléiriú i dteannta na nAchtanna Cánach Ioncaim agus, a mhéid a bhaineann sé le cáin bhrabús corparáide, a léamh agus a fhorléiriú i dteannta na nAchtanna a bhaineann le cáin bhrabús corparáide.
(3) Measfar gur tháinig an tAcht seo i ngníomh agus glacfaidh sé éifeacht amhail ar an agus ón 6ú lá d'Aibreán, 1974.
Number 17 of 1974
FINANCE (TAXATION OF PROFITS OF CERTAIN MINES) ACT, 1974
ARRANGEMENT OF SECTIONS
Acts Referred to | |
Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956 | 1956, No. 8 |
1967. No. 6 | |
Part V of the Finance Act, 1920 | 1920, c. 18 |
1946, No. 15 | |
1973, No. 19 | |
1967, No. 17 | |
1971, No. 23 | |
1959, No. 18 | |
1940, No. 31 | |
Number 17 of 1974
FINANCE (TAXATION OF PROFITS OF CERTAIN MINES) ACT, 1974
Interpretation.
1.—(1) In this Act, except so far as is otherwise provided or the context otherwise requires—
“the Act of 1956” means the Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956;
“the Act of 1967” means the Income Tax Act, 1967;
“the Acts relating to corporation profits tax” means Part V of the Finance Act, 1920, and the enactments amending or extending that Part;
“development expenditure” means capital expenditure—
(a) on the development of a qualifying mine, or
(b) on the construction of any works in connection with a qualifying mine which are of such a nature that, when the mine ceases to be operated, they are likely to have so diminished in value that their value will be little or nothing,
and includes interest on money borrowed to meet such capital expenditure, but does not include—
(c) expenditure on the acquisition of the site of the mine or the site of any such works or of rights in or over any such site, or
(d) expenditure on the acquisition of a scheduled mineral asset, or
(e) expenditure on works constructed wholly or mainly for subjecting the raw product of the mine to any process except a process designed for preparing the raw product for use as such;
“exploration expenditure” means capital expenditure on searching in the State for deposits of scheduled minerals or on testing such deposits or winning access thereto and includes capital expenditure on systematic searching for areas containing scheduled minerals and searching by drilling or other means for scheduled minerals within those areas, but does not include expenditure on operations in the course of working a qualifying mine or expenditure which is development expenditure;
“mine development allowance” has the same meaning as in section 245 of the Act of 1967;
“qualifying mine” means a mine that is being worked for the purpose of obtaining scheduled minerals;
“scheduled mineral asset” means a deposit of scheduled minerals or land comprising such a deposit or an interest in or right over such deposit or land;
“scheduled minerals” has the same meaning as in section 382 of the Act of 1967;
“tax” means income tax, sur-tax or corporation profits tax, as may be appropriate.
(2) Save as provided for in sections 3, 4 and 5, expenditure shall not be regarded, for the purposes of this Act, as having been incurred by a person carrying on the trade of working a qualifying mine in so far as it has been or is to be met directly or indirectly out of moneys provided by the Oireachtas or by any other person (not being a person who has carried on the trade of working that mine).
(3) References in this Act to any enactment shall, unless the context otherwise requires, be construed as references to that enactment as amended or extended by any subsequent enactment.
(4) In this Act a reference to a section is to a section of this Act unless it is indicated that reference to some other enactment is intended.
(5) In this Act a reference to a subsection or paragraph is to the subsection or paragraph of the provision in which the reference occurs unless it is indicated that reference to some other provision is intended.
Allowance in respect of development expenditure and exploration expenditure.
2.—(1) Where a person who is carrying on the trade of working a qualifying mine incurs, on or after the 6th day of April, 1974, any development expenditure or exploration expenditure and makes application under section 245 of the Act of 1967 for a mine development allowance for a year of assessment in respect of such expenditure—
(a) that expenditure shall be deemed to be expenditure in respect of which that allowance may be granted, whether or not, in the case of exploration expenditure, a deposit of scheduled minerals is found as a result of the expenditure,
(b) the amount of such allowance for that year of assessment shall be equal to the total amount of—
(i) the exploration expenditure, and
(ii) in the case of development expenditure the amount of the difference between that expenditure and the amount which, in the opinion of the inspector, the assets representing that expenditure are likely to be worth at the end of the estimated life of the aforesaid mine, and
(c) in relation to a case in which this section has had effect, any reference in the Income Tax Acts to an allowance made under the said section 245 shall be construed as including a reference to an allowance made under that section by virtue of this section:
Provided that no account shall be taken, for the purposes of this section, of exploration expenditure as a result of which a deposit of scheduled minerals is not found if the expenditure was incurred more than ten years prior to the date on which the person aforesaid commences to carry on the trade of working a qualifying mine.
(2) Where a person who is carrying on the trade of working a qualifying mine incurred before the 6th day of April, 1974, capital expenditure in respect of which he was entitled under section 245 of the Act of 1967 to apply for a mine development allowance and there is an amount of that expenditure still unallowed on the said date, the person may elect to have the amount of mine development allowance for the year of assessment 1974-75 in respect of that expenditure increased to an amount equal to the amount of the expenditure so unallowed.
(3) In this section the amount of expenditure still unallowed on the 6th day of April, 1974, shall be taken to be the amount of the estimated difference, within the meaning of section 245 (5) (b) of the Act of 1967, less any mine development allowance granted, or deemed under section 245 (13) of the said Act to have been granted, for any year of assessment before the year of assessment 1974-75.
(4) No allowance shall be made under subsection (1) in respect of expenditure incurred before the 6th day of April, 1974, whether or not such expenditure is, by virtue of any provision of this Act, the Finance Act, 1946, or the Act of 1967, deemed to have been incurred on or after the said date.
Expenditure on abortive exploration.
3.—(1) Where a person who is, on the 6th day of April, 1974, carrying on the trade of working a qualifying mine incurred exploration expenditure, on or after the 6th day of April, 1967, but before the said 6th day of April, 1974, and that expenditure was not incurred in connection with the said qualifying mine, then, in charging to tax the profits or gains of the said trade for the year of assessment 1974-75, there shall be allowed a deduction of an amount equal to the amount of that expenditure.
(2) Where a person who commences to carry on the trade of working a qualifying mine after the 6th day of April, 1974, incurred exploration expenditure on or after the 6th day of April, 1967, and that expenditure was not incurred in connection with the said qualifying mine but was incurred within a period of ten years prior to the date on which he commences to carry on the said trade, then in charging to tax the profits or gains of the said trade for the year of assessment in which he commenced to carry on the said trade, there shall be allowed a deduction of an amount equal to the amount of that expenditure.
(3) Where in a case referred to in subsection (1) or (2) the person concerned is a body corporate and there was or is, after all or part of the expenditure referred to therein had been incurred by it, a change in ownership, within the meaning of the Fifth Schedule to the Finance Act, 1973, of the body corporate or of a body corporate that is a parent body or a wholly-owned subsidiary, within the meaning of section 4, of the first-mentioned body corporate, no deduction shall be allowed under this section in respect of any part of the said expenditure incurred prior to the date of the change in ownership:
Provided that in any case where part of the ordinary share capital of any body corporate is acquired by a Minister of State, such acquisition shall be disregarded in determining whether or not there was or is such a change in ownership as aforesaid.
(4) Where, on or after the 6th day of April, 1974, a person commences to carry on the trade of working a qualifying mine but has not incurred the exploration expenditure incurred in connection with that mine, no allowance shall be given under this section or by virtue of section 2 in respect of exploration expenditure incurred by that person prior to the date on which he commences to carry on the said trade.
(5) A person shall not be entitled to a deduction or allowance in respect of the same expenditure both under this section and under some other provision of the Income Tax Acts or the Acts relating to corporation profits tax.
Exploration expenditure incurred by certain bodies corporate.
4.—(1) Where exploration expenditure, in respect of which an allowance may be claimed by virtue of section 2 or section 3, is or has been incurred by a body corporate (hereinafter in this section referred to as the exploration company) and—
(a) another body corporate is, or is deemed to be, a wholly-owned subsidiary of the exploration company, or
(b) the exploration company is, or is deemed to be, a wholly-owned subsidiary of another body corporate,
the expenditure or so much of it as the exploration company specifies—
(i) in the case referred to in paragraph (a) may, at the election of the exploration company, be deemed to have been incurred by such other body corporate (being a body corporate which is, or is deemed to be, a wholly-owned subsidiary of the exploration company) as the exploration company specifies,
(ii) in the case referred to in paragraph (b) may, at the election of the exploration company, be deemed to have been incurred by the body corporate (hereinafter referred to as the parent body) of which the exploration company was, at the time the expenditure was incurred, a wholly-owned subsidiary or by such other body corporate (being a body corporate which is, or is deemed to be, a wholly-owned subsidiary of the parent body) as the exploration company specifies,
and in a case where the said expenditure was incurred on a date prior to the incorporation of the body corporate so specified, the provisions of this Act shall apply, in relation to the granting of any allowance in respect of such expenditure, as if the said body corporate had been in existence at the time the expenditure was incurred and had incurred the expenditure at that time:
Provided that—
(i) the same expenditure shall not be taken into account in relation to more than one trade by virtue of this section, and
(ii) a deduction or allowance shall not be granted in respect of the same expenditure both by virtue of this section and under some other provision of the Income Tax Acts or the Acts relating to corporation profits tax.
(2) A body corporate shall, for the purposes of subsection (1), be deemed to be a wholly-owned subsidiary of another body corporate if and so long as all of its ordinary share capital is owned by that other body corporate whether directly or through another body corporate or other bodies corporate, or partly directly and partly through another body corporate or other bodies corporate:
Provided that where part of the ordinary share capital of any body corporate is held by a Minister of State and the remainder of the ordinary share capital of that body corporate is held by another body corporate, the first-mentioned body corporate shall be deemed, for purposes of subsection (1), to be a wholly-owned subsidiary of the last-mentioned body corporate.
(3) The provisions of Part II of the Fifth Schedule to the Finance Act, 1973, shall apply for the purpose of determining the amount of ordinary share capital held in a body corporate through other bodies corporate.
Expenditure incurred by person not engaged in the trade of mining.
5.—(1) Where, whether before, on or after the 6th day of April, 1974, a person incurs or incurred exploration expenditure which resulted in the finding of a deposit of scheduled minerals and, without having carried on any trade which consists of or includes the working of that deposit and without having claimed any allowance or deduction under or by virtue of this Act in respect of that expenditure, he sells any assets representing that expenditure to another person, then, if that other person carries on such a trade as aforesaid in connection with that deposit, that other person shall, for the purposes of this Act, be deemed to have incurred for the purposes of the trade and in connection with the deposit, exploration expenditure equal to the amount of the exploration expenditure which is represented by the assets or the price paid by him for the assets, whichever is the smaller, and that expenditure shall be deemed to have been incurred by him on the date on which he commences to carry on the trade aforesaid.
(2) A person who claims an allowance by virtue of subsection (1) in respect of expenditure represented by assets acquired by him shall not be deemed to have incurred that expenditure unless the working of the aforesaid deposit results in the production of scheduled minerals in reasonable commercial quantities.
(3) A deduction or allowance in respect of the same expenditure shall not be made both under this section and under some other provision of the Income Tax Acts or the Acts relating to corporation profits tax.
(4) Section 6 shall not apply to expenditure in respect of which an allowance is made by virtue of this section.
Investment allowance in respect of exploration expenditure.
6.—(1) Where a person who is carrying on the trade of working a qualifying mine incurs, on or after the 6th day of April, 1974, exploration expenditure in relation to which section 2 has effect, there shall, in addition to any mine development allowance granted in respect of such expenditure, be made to him, for the year of assessment for which such mine development allowance is granted, an allowance (which shall be known as an exploration investment allowance) equal to one-fifth of such expenditure and section 245 (6) of the Act of 1967 shall apply to an exploration investment allowance as it applies to a mine development allowance.
(2) No allowance shall be made under this section in respect of exploration expenditure—
(a) incurred before the 6th day of April, 1974, whether or not such expenditure is, by virtue of any provision of this Act, the Finance Act, 1946, or the Act of 1967, deemed to have been incurred on or after the said date, or
(b) which is deemed to be incurred by a person other than the person who incurred the expenditure:
Provided that this paragraph shall not apply in respect of expenditure deemed, under section 4, to have been incurred by a body corporate other than the body corporate which incurred the expenditure.
Allowances for machinery and plant.
7.—(1) Where, on or after the 6th day of April, 1974, new machinery or new plant (other than vehicles suitable for the conveyance by road of persons or goods or the haulage by road of other vehicles) is provided for use for the purposes of the trade of working a qualifying mine, the said machinery or plant shall, if it is not qualifying machinery or plant, be deemed, for the purpose of section 11 of the Finance Act, 1967, to be qualifying machinery or plant.
(2) Where a person who is carrying on the trade of working a qualifying mine incurred before the 6th day of April, 1974, capital expenditure on the provision of machinery or plant for the purposes of that trade, the amount of that expenditure still unallowed on the said date, within the meaning of section 274 of the Act of 1967, may, at the election of the person, be allowed as a deduction in charging the profits of the said trade to tax for the year of assessment 1974-75.
(3) Where, on or after the 6th day of April, 1974, a person carrying on the trade of working a qualifying mine incurs capital expenditure on the provision of new machinery or new plant (other than vehicles suitable for the conveyance by road of persons or goods or the haulage by road of other vehicles) for the purposes of that trade, there shall be made to him, for the year of assessment in the basis period for which the expenditure is incurred an allowance equal to one-fifth of the expenditure, and such allowance shall be made as a deduction in charging to tax the profits or gains of the said trade and shall be in lieu of any allowance in respect of such machinery or plant under section 22 (2) of the Finance Act, 1971.
(4) Subsections (3), (4) and (5) of section 22 and sections 23, 24 and 25 of the Finance Act, 1971, shall apply as if for subsections (1) and (2) of the said section 22, insofar as they apply to a person carrying on the trade of working a qualifying mine, there were substituted subsection (2) of this section.
Annual allowance for mineral depletion.
8.—(1) Where a person carrying on the trade of working a qualifying mine incurs after the 31st day of March, 1974, capital expenditure on the acquisition of a scheduled mineral asset entitling him to work deposits of scheduled minerals and in connection with that trade he commences to work those deposits, he shall be entitled to mine development allowance under section 245 of the Act of 1967 in respect of such capital expenditure to the extent that he would have been entitled to such allowance if the said capital expenditure had been capital expenditure incurred in the development of the mine, but section 2 shall not apply in respect of any such expenditure.
(2) Where a person who commences to carry on the trade of working a qualifying mine on or after the 6th day of April, 1974, incurred, before the said date, capital expenditure on the acquisition of a scheduled mineral asset in connection with that mine, he shall, for the purposes of this section, be deemed to have incurred that expenditure on the day on which he commences to carry on the said trade and subsection (1) shall apply accordingly.
Allowance in relation to corporation profits tax.
9.—Section 69 (1) of the Finance Act, 1959, is hereby amended by the insertion after paragraph (c) of the following paragraph:
“(cc) an allowance under the Finance (Taxation of Profits of Certain Mines) Act, 1974,”.
Marginal mine allowance.
10.—(1) In this section—
“marginal mine” means a qualifying mine in respect of which the Minister for Industry and Commerce gives a certificate stating that he is satisfied that the profits derived or to be derived from the working of that mine are such that, if tax is to be charged on those profits in accordance with the provisions of the Income Tax Acts and the Acts relating to corporation profits tax, but excluding the provisions of this section, the mine is unlikely to be worked or to continue to be worked.
(2) The Minister for Finance, after consultation with the Minister for Industry and Commerce, may direct, in respect of a marginal mine, that, for any particular year of assessment or any particular accounting period, the tax chargeable on the profits of that qualifying mine is to be reduced to such amount (including nil) as may be specified by him.
(3) Where a person is carrying on the trade of working a qualifying mine in respect of which the Minister for Finance gives a direction under subsection (2) in respect of a year of assessment or accounting period, an allowance (which shall be known as a marginal mine allowance) shall be made as a deduction in charging the profits of the said trade to income tax for that year of assessment and as a deduction in computing the profits of the said trade for purposes of corporation profits tax for that accounting period of such amount or amounts as will ensure that the tax charged in respect of the profits of the said trade shall equal the amount specified by that Minister.
Charge to income tax on sums received from sale of scheduled mineral assets.
11.—(1) Where, after the 31st day of March, 1974, a person resident in the State sells any scheduled mineral asset and the net proceeds of the sale consist wholly or partly of a capital sum, he shall, subject to the provisions of this section, be charged to tax under Case IV of Schedule D for the year of assessment in which the sum is received by him on an amount equal to that sum:
Provided that where that person is an individual and, not later than twelve months after the end of the year of assessment in which the sum is paid, by notice in writing to the inspector, he elects to be charged to tax for the said year of assessment and for each of the five succeeding years of assessment, on an amount equal to one-sixth of that sum, he shall be so charged.
(2) Where, after the 31st day of March, 1974, a person not resident in the State sells any scheduled mineral asset and the net proceeds of the sale consist wholly or partly of a capital sum, then—
(a) he shall be charged to tax in respect of that sum under Case IV of Schedule D for the year of assessment in which the sum is received by him, and
(b) section 434 of the Act of 1967 shall apply to that sum as if it were an annual payment payable otherwise than out of profits or gains brought into charge to tax:
Provided that where that person is an individual and, not later than twelve months after the end of the year of assessment in which the sum is paid, by notice in writing to the Revenue Commissioners, he elects that the said sum shall be treated for the purpose of tax for that year and for each of the five succeeding years as if one-sixth thereof, and no more, were included in his income chargeable to tax for each of those years respectively, it shall be so treated, and all such repayments and assessments of tax for each of those years shall be made as are necessary to give effect to the election, so, however, that—
(i) the election shall not affect the amount of tax falling to be deducted and accounted for under the said section 434,
(ii) where any sum is deducted under the said section 434 any adjustments necessary to give effect to the election shall be made by way of repayment of tax, and
(iii) the said adjustments shall be made year by year and as if one-sixth of the sum deducted had been deducted in respect of tax for each year, and no repayment of, or of any part of, that portion of the tax deducted which is to be treated as deducted in respect of tax for any year shall be made unless and until it is ascertained that the tax (other than surtax) ultimately falling to be paid for that year is less than the amount of tax (other than sur-tax) paid for that year.
(3) Where the scheduled mineral asset sold by a person was acquired by him by purchase and the price paid consisted wholly or partly of a capital sum, subsections (1) and (2) shall apply as if any capital sum received by him when he sells the asset were reduced by the amount of that sum:
Provided that nothing in this subsection shall affect the amount of tax falling to be deducted and accounted for under section 434 of the Act of 1967 by virtue of subsection (2), and where any sum is deducted under the said section 434, any adjustment necessary to give effect to the provisions of this subsection shall be made by way of repayment of tax.
(4) Where by virtue of an order made by the Minister for Industry and Commerce under section 14 of the Minerals Development Act, 1940, scheduled minerals or rights to work such minerals are acquired and the said Minister pays compensation to any person in respect of such acquisition, that person shall be deemed, for the purposes of this section, to have sold a scheduled mineral asset for a capital sum equal to the amount of compensation paid to him and the preceding provisions of this section shall apply to the said compensation as they apply to a capital sum received in respect of a sale of a scheduled mineral asset.
(5) In this section and in section 12 any reference to the sale of a right to a scheduled mineral asset includes a reference to the grant of a licence to work scheduled minerals.
Charge to corporation profits tax on sums received from sale of scheduled mineral assets.
12.—Where, after the 31st day of March, 1974, a body corporate sells a scheduled mineral asset and the net proceeds of the sale are, by virtue of section 11, to be charged to income tax, the amount to be so charged shall be treated for the purposes of corporation profits tax as profits or gains arising to the body corporate in the accounting period in which occurs the date on which the said net proceeds become due and shall be charged to corporation profits tax accordingly.
Amendment of section 387 of Act of 1967.
13.—(1) Section 387 (2) (a) of the Act of 1967 is hereby amended, in respect of companies that commenced or commence to trade in relation to a qualifying mine whether before, on or after the 6th day of April, 1974, by the substitution of “beginning on the commencement day and ending on the 5th day of April, 1974” for “two hundred and forty months beginning on the commencement day” and the said section 387 (2) (a), as so amended, is set out in the Table to this section.
(2) In this section and in sections 14 to 17 of this Act “company” and “qualifying mine” have the meanings respectively assigned to them by the Act of 1956.
TABLE
387. (2) (a) Where a dividend is paid wholly or in part out of the profits and, as respects such dividend, the dividend period is wholly within a period (hereafter in this Chapter referred to as the exemption period) beginning on the commencement day and ending on the 5th day of April, 1974, the company shall be entitled to deduct income tax in accordance with section 456 from such part, if any, of the dividend as exceeds the relevant payment, but shall not be entitled to deduct income tax from the relevant payment.
Amendment of section 389 of Act of 1967.
14.—Section 389 of the Act of 1967 is hereby amended, in respect of companies that commenced or commence to trade in relation to a qualifying mine whether before, on or after the 6th day of April, 1974, by the substitution of “5th day of April, 1974” for “expiration of the twenty-first year” in both places where it occurs and the said section 389, as so amended, is set out in the Table to this section.
TABLE
389. This Chapter shall not have effect for the purpose of income tax in relation to any year of assessment beginning after the 5th day of April, 1974, but this provision shall not prevent section 387 from applying to a dividend paid after the 5th day of April, 1974, in a case in which the whole or part of the dividend is paid out of the profits of a period wholly or partly within the exemption period.
Termination of relief from income tax.
15.—Relief from income tax shall not be given under section 386 of the Act of 1967 to a company in respect of any year of assessment after the year 1973-74, whether the company commenced to trade in relation to the working of a qualifying mine before, on or after the 6th day of April, 1974.
Option in relation to charge to income tax for 1974-75.
16.—(1) Where a person who is carrying on the trade of working a qualifying mine is chargeable to income tax for the year 1974-75 and would, in accordance with the provisions of section 58 (1) of the Act of 1967, be charged to income tax under Case I of Schedule D on the full amount of the profits or gains of the year preceding that year, he may, by notice in writing given to the inspector before the 1st day of August, 1974, elect to be charged to income tax for the year 1974-75 by reference to the amount of the profits or gains of that year.
(2) Where a person elects, as provided for in subsection (1), he shall be charged to income tax for the year 1974-75 as if the full amount of the profits or gains of the year preceding the said year 1974-75 were an amount equivalent to the full amount of the profits or gains of the year 1974-75.
Termination of relief from corporation profits tax.
17.—(1) Subject to subsection (2), relief from corporation profits tax shall not be given under section 6 of the Act of 1956 to a company for any accounting period of the company ending on or after the 6th day of April, 1974, whether the company commenced to trade in relation to the working of a qualifying mine before, on or after the said date.
(2) In the case of any such accounting period of a company part of which is before the 6th day of April, 1974, and part of which is on or after the said date, the profits of the company shall be apportioned between the parts in proportion to the length of the parts and so much only of the profits as is apportioned to the second-mentioned part shall be regarded, for the purposes of subsection (1), as profits of the company of an accounting period ending on or after the said date.
Short title, construction and commencement.
18.—(1) This Act may be cited as the Finance (Taxation of Profits of Certain Mines) Act, 1974.
(2) This Act shall, so far as it relates to income tax, be read and construed together with the Income Tax Acts and shall, so far as it relates to corporation profits tax, be read and construed together with the Acts relating to corporation profits tax.
(3) This Act shall be deemed to have come into force and shall take effect as on and from the 6th day of April, 1974.