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Uimhir 21 de 1953.
AN tACHT AIRGEADAIS, 1953.
[An tiontó oifigiúil.]
CUID I.
Cáin Ioncaim.
Cáin ioncaim agus forcháin don bhliain 1953-54.
1.—(1) Déanfar cáin ioncaim don bhliain dár tosach an 6ú lá d'Aibreán, 1953, a mhuirearú do réir seacht scillinge agus sé pingne sa phunt.
(2) Déanfar forchám don bhliain dár tosach an 6ú lá d'Aibreán, 1953, a mhuirearú ar ioncam aon phearsan ar mó ná míle agus cúig chéad punt iomlán a ioncaim ó gach bunadh, agus is do réir na rátaí ar dá réir a muirearaítear í don bhliain dár tosach an 6ú lá d'Aibreán, 1952, a muirearófar amhlaidh í.
(3) Faoi réir forál an Achta seo, beidh éifeacht, maidir leis an gcáin ioncaim agus leis an bhforcháin a muirearófar mar adúradh don bhliain dár tosach an 6ú lá d'Aibreán, 1953, ag na forála ar leithligh, reachtúil agus eile, a bhí i bhfeidhm an 5ú lá d'Aibreán, 1953, maidir le cáin ioncaim agus forcháin.
Leasú ar alt 32 den Income Tax Act, 1918.
2.—Más rud é go ndéanfaidh duine ar bith, tar éis an 21ú lá de Bhealtaine, 1953—
(a) árachas a chur ar a shaol féin nó ar shaol a mhná céile, nó
(b) conradh a cheangal i gcóir aon bhlianachta iarchurtha ar a shaol féin nó ar shaol a mhná céile,
le haon chuideachta árachais nó cara-chumann, is cuideachta nó cumann atá cláraithe sa Stát, agus á bhainistí agus á rialú ann, cinnfear méid aon fhaoisimh a bhfuil sé ina theideal faoi alt 32 den Income Tax Act, 1918, arna leasú le hachtacháin ina dhiaidh sin, maidir leis an árachas nó an conradh sin, amhail is dá mbeadh na focail “two-thirds of the standard rate of tax” curtha i gClásal (A) de mhír (i) d'fho-alt (1) agus i gclásal (A) d'fho-mhír (i) de mhír (e) d'fho-alt (3) den alt sin in ionad na bhfocal “half the standard rate of tax”.
Faoiseamh i gcásanna áirithe.
3.—(1) Más rud é, i gcás aon duine lena mbaineadh forála ailt 2 den Acht Airgeadais, 1941 (Uimh. 14 de 1941)—
(a) go bhfuil ioncam ag an duine sin as tír lasmuigh den Stát agus lasmuigh den Bhreatain Mhór agus Tuaisceart Éireann a dtugtaí faoiseamh ina leith de bhuaidh na bhforál sin, agus
(b) gur deimhin leis na Coimisinéirí Ioncaim i dtaobh an ioncaim sin gur mó an cháin iomlán, is é sin, cáin na hÉireann (lena n-áirítear forcháin) i leith an ioncaim, maraon le cáin chomhréire na tíre sin, ná méid na cánach comhréire sin dá ríomhtaí í ar an bhforas go raibh cáin inghearrtha, i leith ioncaim ó bhunaidh sa tír sin, ar an duine sin mar dhuine a raibh a aon-chónaí sa tír sin,
féadfaidh na Coimisinéirí Ioncaim faoiseamh nach mó ná méid na breise sin a thabhairt.
(2) Measfar an t-alt seo a theacht i bhfeidhm an 6ú lá d'Aibreán 1952, agus beidh éifeacht aige amhail ar an lá sin agus ón lá sin amach.
CUID II.
Mál.
Dleacht shiamsa— rátaí i gcás taispeántas oinematografach.
4.—Ar an lú lá de Mheán Fómhair, 1953, agus dá éis, beidh éifeacht ag alt 10 den Acht Airgeadais, 1948 (Uimh. 12 de 1948), amhail is dá gcuirtí na rátaí seo a leanas in ionad na rátaí a sonraítear i bhfo-alt (3) den alt sin, is é sin le rá:—
An Ráta Dleachta | |||||
Má tá an íocaíocht as dul isteach, gan dleacht d'áireamh, | |||||
níos mó ná | 4d. | ach gan bheith níos mó ná | 4½d. | .. | ½d. |
,, ,, ,, | 4½d. | ,, ,, ,, ,, ,, ,, | 5d. | .. | 1d. |
,, ,, ,, | 5d. | ,, ,, ,, ,, ,, ,, | 6½d. | .. | 1½d. |
,, ,, ,, | 6½d. | ,, ,, ,, ,, ,, ,, | 8d. | .. | 2d. |
,, ,, ,, | 8d. | ,, ,, ,, ,, ,, ,, | 9d. | .. | 3d. |
,, ,, ,, | 9d. | ,, ,, ,, ,, ,, ,, | 10½d. | .. | 4½d. |
,, ,, ,, | 10½d. | ,, ,, ,, ,, ,, ,, | 1s. 0d. | .. | 6d. |
,, ,, ,, | 1s. 0d. | ,, ,, ,, ,, ,, ,, | 1s. 1d. | .. | 7d. |
,, ,, ,, | 1s. 1d. | ,, ,, ,, ,, ,, ,, | 1s. 3d. | .. | 9d. |
,, ,, ,, | 1s. 3d. | ,, ,, ,, ,, ,, ,, | 1s. 5d. | .. | 10d. |
,, ,, ,, | 1s. 5d. | ,, ,, ,, ,, ,, ,, | 1s. 6d. | .. | 1s. 0d. |
,, ,, ,, | 1s. 6d. | .. .. .. .. | .. | 1s. 0d. ar an gcéad 1s. 6d. agus 3d. ar gach 3d. nó cuid de 3d. sa bhreis. | |
Dleacht shiamsadíolúine.
5.—Ní muirearófar ná ní toibheofar dleacht shiamsa do réir bhrí ailt 1 den Finance (New Duties) Act, 1916, arna leasú le hachtacháin ina dhiaidh sin, is inmhuirir faoin alt sin, ar íocaíochtaí as dul isteach go dtí aon tsiamsa a gcruthófar ina thaobh chun sástachta na gCoimisinéirí Ioncaim—
(a) go bhfuil an siamsa á thionscnamh ag Cumann Peil Cise Báigheach na hÉireann nó ag club atá cleamhnaithe leis an gcumann sin nó faoina rialú go díreach agus nach bhfuil sa tsiamsa ach cluiche taispeántais peile cise, nó
(b) go bhfuil an siamsa á thionscnamh ag Cumann Rothaidheachta na hÉireann nó ag club atá cleamhnaithe leis an gcumann sin nó faoina rialú go díreach agus nach bhfuil sa tsiamsa ach taispeántas rásaíochta rothar rollóra agus nach mbronntar airgead ar dhuine ar bith, ná nach n-íoctar airgead le duine ar bith, a ghlacas páirt nó a dhéanas iomaíocht ann, pé acu mar dhuais nó luach saothair nó eile é.
Dleacht shiamsa-aisíoc i gcás taispeántas cinematografach áirithe.
6.—(1) I gcás—
(a) dleacht shiamsa do réir bhrí ailt 1 den Finance (New Duties) Act, 1916, arna leasú le hachtacháin ina dhiaidh sin, is inmhuirir faoin alt sin, a bheith íoctha i leith íocaíochtaí as dul isteach go dtí aon tsiamsa a bheas ar siúl an lú lá de Mheán Fómhair, 1953, nó dá éis, agus.
(b) go gcruthófar chun sástachta na gCoimisinéirí Ioncaim gur siamsa é ar comhlíonadh ina leith na coinníollacha a sonraítear i bhfo-alt (2) den alt seo,
aisíocfaidh na Coimisinéirí Ioncaim le dílseánach an tsiamsa suim is ionann agus caoga faoin gcéad den dleacht a híocadh amhlaidh.
(2) Is iad na coinníollacha dá dtagartar i mír (b) d'fho-alt (1) den alt seo:
(a) nach bhfuil sa tsiamsa ach taispeántas cinematografach, agus
(b) go bhfuil fiúntas oideachais sa tsiamsa—
(i) toisc gur pictiúirí reatha a táirgtear trí mheán scannáin chinematografaigh, lena ngabhann fuaim-rian leanúnach trína dtáirgtear urlabhra i nGaeilge, tríocha is trí is trian faoin gcéad ar a laghad den tsiamsa, nó
(ii) toisc gur pictiúirí reatha a táirgtear trí mheán scannáin chinematografaigh, lena ngabhann fuaim-rian leanúnach trína dtáirgtear urlabhra i dteanga seachas teangacha oifigiúla an Stáit, caoga faoin gcéad ar a laghad den tsiamsa.
(3) Ní measfar an siamsa a bheith ina shiamsa oideachasúil ar fad, do réir bhrí míre (b) d'fho-alt (2) d'alt 10 den Acht Airgeadais, 1943 (Uimh. 16 de 1943), de bhíthin amháin go gcomhlíonann sé an coinníoll a sonraítear i mír (b) d'fho-alt (2) den alt seo.
Dleacht shiamsa— leasú ar alt 13 den Acht Airgeadais, 1949.
7.—(1) San alt seo ciallaíonn “an príomh-alt” alt 13 den Acht Airgeadais, 1949 (Uimh. 13 de 1949).
(2) Beidh éifeacht ag an bpríomh-alt faoi réir an choinníll—
(a) má thaispeánann an daonáireamh is déanaí de thuras na huaire gur mó ná cúig chéad daonra baile áirithe, agus
(b) murar mhó ná cúig chéad daonra an bhaile sin do réir an daonáirimh dheiridh roimhe sin,
go measfar chun críocha an phríomh-ailt daonra an bhaile do réir an daonáirimh sin is déanaí a bheith laghdaithe chun nach mó é ná cúig chéad i leith na tréimhse dhá bhliain dár tosach lá foilsithe an daon- áirimh sin is déanaí (mar dheimhneos an tAire Airgeadais é le hordú chun críocha an choinníll seo).
(3) Forléireofar an tagairt i mír (b) d'fho-alt (2) den alt seo do dhaonra an bhaile do réir an daonáirimh dheiridh roimhe sin, i gcás ina raibh éifeacht maidir leis an daonra sin ag an gcoinníoll a chuir alt 10 den Acht Airgeadais, 1951 (Uimh. 15 de 1951), leis an bpríomh-alt mar thagairt don daonra sin arna laghdú mar sonraítear sa choinníoll sin.
(4) Más é daonáireamh 1951 an daonáireamh is déanaí de thuras na huaire, beidh éifeacht ag an gcoinníoll a sonraítear i bhfo-alt (2) den alt seo ach tagairt don tréimhse dhá bhliain dár tosach an lú lá de Mheán Fómhair, 1953, a chur in ionad na tagairte don tréimhse dhá bhliain dár tosach lá foilsithe an daonáirimh mar deimhneofar é.
Leasú ar an Acht Airgeadais (Dleachta Máil) (Feithiclí), 1952.
8.—(1) Leasaítear leis seo mír (3) de Chuid II den Sceideal a ghabhas leis an Acht Airgeadais (Dleachta Máil) (Feithiclí), 1952 (Uimh. 24 de 1952), tríd an bhforáil seo a leanas a chur léi:
“Má tá feirm á seoladh mar chuid d'aon cheann díobh seo a leanas nó i ndáil leis—
(a) ospidéal, sanatorium, teach téarnaimh nó foras dá samhail sin,
(b) foras meabhair-ghalar do réir bhrí an Achta Chóireála Meabhair-Ghalar, 1945 (Uimh. 19 de 1945),
(c) mainistir, coinbhint nó foras dá samhail sin, nó
(d) coláiste, scoil nó foras dá samhail sin,
measfar chun críocha na míre seo gur duine arb í an fheirmeoireacht is príomhghnó aige an duine atá ag seoladh na feirme.”
(2) Measfar fo-alt (1) den alt seo a theacht i ngníomh ar an Acht Airgeadais (Dleachta Máil) (Feithiclí), 1952, a rith.
(3) Déanfar na haisíocaíochtaí iomchuí ag féachaint do na forála roimhe seo den alt seo agus is do réir pé treoruithe a bhéarfas an tAire Rialtais Áitiúil a déanfar iad.
CUID III.
Cáin Bhrabús Corparáide.
Díolúintí áirithe ó cháin bhrabús corparáide do leanúint i bhfeidhm.
9.—Déanfar na díolúintí ó cháin bhrabús corparáide a sonraítear i bhfo-alt (1) d'alt 33 den Acht Airgeadais, 1929 (Uimh. 32 de 1929), arna leasú le halt 30 den Acht Airgeadais, 1931 (Uimh. 31 de 1931), le mír (b) d'fho-alt (1) d'alt 47 den Acht Airgeadais, 1932 (Uimh. 20 de 1932), agus le fo-alt (2) d'alt 11 den Acht Airgeadais, 1950 (Uimh. 18 de 1950), a thabhairt in aghaidh na tréimhse dár tosach an lú lá d'Eanáir, 1953, agus dár críoch an 31ú lá de Nollaig, 1955.
CUID IV.
Ioncam nach féidir a chur chun an Stáit: Cáin Ioncaim, Forcháin agus Cáin Bhrabús Corparáide.
Ioncam nach féidir a chur chun an Stáit.
10.—(1) San alt seo—
ciallaíonn “cáin” cáin ioncaim, forcháin nó cáin bhrabús corparáide, do réir mar bheas;
ciallaíonn “ioncam sonrach” ioncam a bhfuil a bhunadh lasmuigh den Stát agus arb é a mhéid an méid nó cuid den mhéid (dá ngairmtear an méid adúradh san alt seo) ar a ríomhtar an cháin do réir an reachta iomchuí.
(2) Faoi réir na bhfo-alt eile den alt seo, beidh éifeacht ag forála an ailt seo i gcás—
(a) cáin a mhuirearú trí mheasúnú in aghaidh aon tréimhse, pé acu roimh dháta an Achta seo a rith a thosnaigh sé nó nach ea, agus pé acu roimh an dáta sin a rinneadh an measúnú nó nach ea, agus
(b) gan an cháin a bheith íoctha.
(3) In aon chás ina dtabharfar do na Coimisinéirí Ioncaim, ar an dáta a bheas an cháin iníoctha nó dá éis sin, pé cruthúnas is leor leo nach féidir, mar gheall ar reachtaíocht sa tír ina bhfuil a bhunadh nó mar gheall ar bheart feidhmiúcháin ag Rialtas na tíre sin, ioncam sonrach a chur chun an Stáit, féadfaidh na Coimisinéirí Ioncaim, chun críocha bailiúcháin, an measúnú d'áireamh amhail is nár fholaigh an méid adúradh an t-ioncam sonrach, ach beidh deireadh leis an áireamh sin a luaithe a bheas na Coimisinéirí Ioncaim gan leor-chruthúnas den tsórt sin.
(4) Féadfaidh na Coimisinéirí Ioncaim, chun críocha an ailt seo, aon eolas is riachtanach leo d'éileamh.
(5) Duine ar bith atá míshásta le breith na gCoimisinéirí Ioncaim faoi fho-alt (3) den alt seo, féadfaidh sé, trí fhógra scríofa a thabhairt do na Coimisinéirí Ioncaim laistigh de lá agus fiche tar éis an bhreith a chur in iúl dó, a iarraidh an cás a chur faoi bhráid na gCoimisinéirí Speisialta, agus beidh a mbreith sin ina breith chríochnaitheach.
Forléiriú na Coda seo den Acht seo.
11.—Déanfar an Chuid seo den Acht seo, a mhéid a bhaineas sí le cáin ioncaim (lena n-áirítear forcháin) a léamh agus d'fhorléiriú i dteannta na nAcht Cánach Ioncaim agus, a mhéid a bhaineas sí le cáin bhrabús corparáide, léifear agus forléireofar í i dteannta Coda V den Finance Act, 1920, arna leasú nó arna leathnú le hachtacháin ina dhiaidh sin.
CUID V.
Dleachta Stampa
Malairtiú.
12.—(1) San alt seo ciallaíonn “an Príomh-Acht” an Stamp Act, 1891.
(2) (a) Más rud é, i gcás aon mhaoin a mhalairtiú ar aon mhaoin eile, nach ionann luach don dá mhaoin a malairtíodh, muirearófar dleacht stampa ar na bpríomh-ionstraim nó ar an aon-ionstraim (dá ngairmtear an ionstraim adúradh sa bhfo-alt seo) trína ndearnadh an mhalairt, agus beidh sí faoi réir forál an Phríomh-Achta (arna leasú le hachtacháin ina dhiaidh sin), amhail is mdá ba tíolacas d'éis díola í, in ionad í a bheith ina hionstraim den tsórt sin, i leith na maoine is airde luach—
(i) a rinneadh i gcomaoin suime dob ionann agus an difríocht idir luach an dá mhaoin a malairtíodh,
(ii) a rinneadh chun an duine nó na ndaoine inar dhílsigh an mhaoin is airde luach,
(iii) faoinar aistrigh an leas tairbhiúil go léir chun an duine a tháinig i dteideal an leasa thairbhiúil go léir sa mhaoin is airde luach, nó, i gcás níos mó ná duine amháin a theacht i dteideal leasa thairbhiúil inti, faoinar aistrigh leas tairbhiúil chun gach duine acu, agus
(iv) ina raibh ráitis agus deimhnithe ar bith den tsórt dá dtagartar in alt 13 den Acht Airgeadais (Uimh. 2), 1947 (Uimh. 33 de 1947), arna leasú le hachtacháin ina dhiaidh sin, agus in alt 21 den Acht Airgeadais, 1952 (Uimh. 14 de 1952), d'fhéadfadh go cuí a bheith ann dá mba tíolacas d'éis díola den tsórt sin é iarbhír.
(b) Má bhíonn ionstraimí éagsúla ann chun teideal cheachtar páirtí sa mhalairt a chomhlánú, fionnfar an phríomh-ionstraim agus muirearófar dleacht ar na hionstraimí eile mar foráltar sa Phríomh-Acht i gcás ionstraimí éagsúla tíolactha.
(c) Measfar gan an ionstraim adúradh a bheith stampáilte go cuí mura bhfuil na Coimisinéirí Ioncaim tar éis a dtuairim a thabhairt ina taobh do réir ailt 12 den Phríomh-Acht.
(d) Sa bhfo-alt seo ciallaíonn “maoin” tailte, tionóntáin nó oidhreachtáin agus ciallaíonn “luach”, nuair a húsáidtear é maidir le maoin, luach na maoine agus í saor ó gach muirear agus eire.
(3) Ní bheidh feidhm ag alt 73 den Phríomh-Acht maidir le malairt lena mbaineann fo-alt (2) den alt seo, agus i gcás aon mhalairte den tsórt sin forléireofar mar thagairtí don fho-alt sin na tagairtí don alt sin 73 atá faoin mírcheann “Exchange or Excambion” sa Chéad Sceideal a ghabhas leis an bPríomh-Acht.
Díolúine d'admhála áirithe.
13.—(1) Cuirfear an díolúine seo a leanas in ionad díolúine uimhir (6) faoin mírcheann “Receipt given for, or upon the payment of, money amounting to £2 or upwards” sa Chéad Sceideal a ghabhas leis an Stamp Act, 1891:
“(6) Receipt given for or on account of any salary, pay or wages, or for or on account of any other like payment made to or for the account or benefit of any person, being the holder of an office or an employee, in respect of his office or employment, or for or on account of money paid in respect of any pension, superannuation allowance, compassionate allowance or other like allowance.”
(2) Athghairmtear leis seo fo-alt (2) d'alt 38 den Acht Airgeadais, 1926 (Uimh. 35 de 1926), agus alt 36 den Acht Airgeadais, 1935 (Uimh. 28 de 1935).
Dleachta stampa d'aisíoc i gcásanna áirithe.
14.—(1) San alt seo—
ciallaíonn “alt 1947” alt 13 den Acht Airgeadais (Uimh. 2), 1947 (Uimh. 33 de 1947), arna leasú le hachtacháin ina dhiaidh sin;
ciallaíonn “alt 1949” alt 24 den Acht Airgeadais, 1949 (Uimh. 13 de 1949), arna leasú le hachtacháin ina dhiaidh sin.
(2) Más rud é—
(a) gur muirearaíodh dleacht stampa ar ionstraim (roimh an Acht seo a rith nó dá éis) do réir fo-ailt (5) d'alt 1947,
(b) go n-iarrfaidh duine faoi alt 12 den Stamp Act, 1891, ar na Coimisinéirí Ioncaim a dtuairim a thabhairt i dtaobh na hionstraime, agus
(c) go gcruthófar chun sástachta na gCoimisinéirí Ioncaim go raibh an duine a tháinig, faoin ionstraim, i dteideal an leasa thairbhiúil go léir sa mhaoin a tíolaiceadh nó a haistríodh (nó, i gcás níos mó ná duine amháin a theacht i dteideal leasa thairbhiúil inti, gach duine ar leith acu) ina shaoránach Éireannach ar dháta forghníomhuithe na hionstraime,
measfar go raibh san ionstraim aon ráitis den tsórt dá dtagartar in alt 1947 d'fhéadfadh go cuí a bheith inti, agus go raibh dleacht inmhuirir uirthi dá réir sin, pé acu stampáladh nó nár stampáladh cheana í le stampa áirithe á thaispeáint gur stampáladh go cuí í.
(3) Más rud é—
(a) gur muirearaíodh dleacht stampa ar ionstraim (roimh an Acht seo a rith nó dá éis) do réir fo-ailt (5) d'alt 1949,
(b) go n-iarrfaidh duine faoi alt 12 den Stamp Act, 1891, ar na Coimisinéirí Ioncaim a dtuairim a thabhairt i dtaobh na hionstraime, agus
(c) go gcruthófar chun sástachta na gCoimisinéirí Ioncaim go raibh an duine a tháinig i dteideal an leasa thairbhiúil go léir i leas an léasaí faoin ionstraim (nó, i gcás níos mó ná duine amháin a theacht i dteideal leasa thairbhiúil ann, gach duine ar leith acu) ina shaoránach Éireannach ar dháta forghníomhuithe na hionstraime,
measfar go raibh san ionstraim aon ráitis den tsórt dá dtagartar in alt 1949 d'fhéadfadh go cuí a bheith inti, agus go raibh dleacht inmhuirir uirthi dá réir sin, pé acu stampáladh nó nár stampáladh cheana í le stampa áirithe á thaispeáint gur stampáladh go cuí í.
(4) In aon chás den tsórt dá dtagartar i bhfo-alt (2) nó i bhfo-alt (3) den alt seo, féadfaidh na Coimisinéirí Ioncaim an difríocht idir an méid dleachta a muirearaíodh iarbhír ar an ionstraim agus an méid a meastar is inmhuirir uirthi de bhuaidh an ailt seo d'aisíoc, ar choinníoll go n-iarrfar an t-aisíoc laistigh de dhá bhliain tar éis dáta an Achta seo a rith nó dáta na hionstraime (pé dáta acu is déanaí).
(5) Forléireofar an tagairt i mír (a) d'fho-alt (1) d'alt 19 den Acht Airgeadais, 1951 (Uimh. 15 de 1951), do na hachtacháin a bhí i bhfeidhm díreach roimh an Acht sin a rith mar thagairt a fholaíos tagairt do na fo-ailt roimhe seo den alt seo.
CUID VI.
Ilghnéitheach agus Ginearálta.
An Cuntas Fuascailte Seirbhísí Caipitiúla.
15.—(1) San alt seo—
ciallaíonn “an príomh-alt” alt 22 den Acht Airgeadais, 1950 (Uimh. 18 de 1950);
ciallaíonn “alt leasaitheach 1952” alt 23 den Acht Airgeadais 1952 (Uimh. 14 de 1952);
ciallaíonn “an tríú blianacht bhreise” an tsuim a muirearaítear ar an bPríomh-Chiste faoi fho-alt (4) den alt seo;
tá leis na habairtí “an tAire”, “an Cuntas” agus “seirbhísí caipitiúla” na bríonna atá leo faoi seach sa phríomh-alt.
(2) Beidh éifeacht, maidir leis na naoi mbliana airgeadais fichead as a chéile dár tosach an bhliain airgeadais a chríochnós an 31ú lá de Mhárta, 1954, ag fo-alt (4) d'alt leasaitheach 1952 ach “£463,805” a chur in ionad “£501,992”.
(3) Beidh éifeacht ag fo-alt (6) d'alt leasaitheach 1952 ach “£292,755” a chur in ionad “£323,127”.
(4) Déanfar suim £767,274 chun fuascailte iasachtaí, maraon le hús ar an gcéanna, i leith seirbhísí caipitiúla, a mhuirearú go bliantúil ar an bPríomh-Chiste nó a thoradh fáis sna tríocha bliain airgeadais as a chéile dár tosach an bhliain airgeadais a chríochnós an 31ú lá de Mhárta, 1954.
(5) Íocfar an tríú blianacht bhreise isteach sa Chuntas i pé slí agus pé trátha sa bhliain airgeadais iomchuí a chinnfeas an tAire.
(6) Féadfar aon mhéid den tríú blianacht bhreise, nach mó ná £493,955 in aon bhliain airgeadais áirithe, d'úsáid chun an t-ús ar an bhfiachas poiblí d'íoc.
(7) Déanfar iarmhéid na tríú blianachta breise d'úsáid in aon cheann nó cinn de na slite a sonraítear i bhfo-alt (6) den phríomhalt.
Dleachta báis d'íoc trí Iasacht Náisiúnta 5% 1962/72 d'aistriú.
16.—(1) San alt seo—
ciallaíonn “an tAire” an tAire Airgeadais;
ciallaíonn “an Iasacht” an Iasacht Náisiúnta 5%, 1962/72;
ciallaíonn “an Cuntas” pé cuntas a hordófar de bhun fo-ailt (3) den alt seo.
(2) Féadfaidh an tAire a fhoráil le rialacháin go ndéanfar, faoi réir na rialachán, stoc de chuid na hIasachta a ghlacadh mar íocaíocht ar aon dleacht bháis.
(3) I gcás rialacháin a dhéanamh faoi fho-alt (2) den alt seo, ansin, duine ar bith a dhlífeas aon tsuim d'íoc i leith aon dleachta báis, féadfaidh sé, faoi réir na rialachán, an tsuim nó aon chuid di d'íoc trí aistriú a dhéanamh, chun pé cuntais de chuid an Aire a bheas ordaithe leis na rialacháin, ar an oiread de stoc na hIasachta is comhionann ina luach ar dháta an aistrithe leis an tsuim nó leis an gcuid den tsuim.
(4) Aon tsealbháin de stoc na hIasachta a haistreofar chun an Chuntais, féadfar iad a choinneáil ann nó iad a dhíol nó a chealú nó déileáil leo ar shlí eile mar ordós an tAire.
(5) Déanfaidh na Coimisinéirí Ioncaim aistriú sealbháin de stoc na hIasachta chun an Chuntais a ghlacadh mar ní is ionann agus suim airgid d'íoc leo de mhéid is comhionann le luach an tsealbháin ar dháta an aistrithe.
(6) Íocfaidh an tAire leis na Coimisinéirí Ioncaim as an gCuntas na luacha a bhí, ar dháta an aistrithe, ar shealbháin de stoc na hIasachta a haistríodh chun an Chuntais.
(7) Íocfar isteach sa Chuntas suimeanna a híocfar mar ús, nó mar fhuascailt, ar shealbháin de stoc na hIasachta a coinneofar sa Chuntas agus suimeanna a gheofar as sealbháin den tsórt sin a dhíol nó as aon déileála eile leo.
(8) Déanfar suimeanna a híocfar isteach sa Chuntas de bhun fo-ailt (7) den alt seo d'úsáid chun nó mar chabhair chun íocaíochtaí a dhéanamh a ceanglaítear ar an Aire leis an alt seo a dhéanamh leis na Coimisinéirí Ioncaim as an gCuntas, agus íocfar aon iarmhéid, mar threorós agus nuair a threorós an tAire é, isteach sa Stát-Chiste chun airgead d'aisíoc a hairleacadh chun an Chuntais as an bPríomh-Chiste nó a thoradh fáis agus, má bhíonn breis ag an iarmhéid ar an tsuim is gá chun airgead d'aisíoc a hairleacadh chun an Chuntais as an bPríomh-Chiste nó a thoradh fáis, cuirfear an bhreis chun tairbhe don Stát-Chiste i pé slí a threorós an tAire.
(9) Airleacfar as an bPríomh-Chiste nó a thoradh fáis chun an Chuntais pé suimeanna is gá faoi chomhair aon íocaíochtaí faoin alt seo ón Aire chun na gCoimisinéirí Ioncaim, as an gCuntas, nach ndéantar faoi fho-alt (8) den alt seo.
(10) Chun airgead a sholáthar le haghaidh airleacan as an bPríomh-Chiste nó a thoradh fáis faoin alt seo, féadfaidh an tAire aon tsuim nó suimeanna a thógaint ar iasacht ó dhuine ar bith agus, chun an céanna a thógaint ar iasacht, féadfaidh urrúis a chruthnú agus d'eisiúint agus iad faoi pé ráta úis, agus faoi réir pé coinníoll i dtaobh aisíoca nó fuascailte nó eile, is oiriúnach leis, agus íocfaidh sé isteach sa Stát-Chiste aon airgead a thógfas sé ar iasacht amhlaidh.
(11) Is ar an bPríomh-Chiste nó a thoradh fáis a bheas muirear agus íoc príomhshuime agus úis aon urrús a heiseofar faoin alt seo agus na gcaiteachas faoina raghfar maidir le heisiúint na n-urrús sin.
(12) Chun críocha an ailt seo—
(a) is é luach a bheas, ar dháta an aistrithe, ar aon tsealbhán de stoc na hIasachta a haistreofar chun an Chuntais an t-aghluach ainmniúil maraon le haon ús a bheas faibhrithe chun bheith dlite ar dháta an aistrithe ach a bheas gan íoc ar an dáta sin, tar éis aon ús a bhaint de a bheas le fáil ag an aistreoir i ndiaidh an dáta sin, agus
(b) measfar ús ar aon tsealbhán den tsórt sin de stoc na hIasachta d'fhaibhriú ó lá go lá.
Alt 2 den Public Revenue and Consolidated Fund Charges Act, 1854, a leasú.
17.—Déantar leis seo alt 2 den Public Revenue and Consolidated Fund Charges Act, 1854, a leasú trí na focail “the thirtieth day of September” a chur in ionad na bhfocal “the thirtieth day of June, if Parliament be sitting, or if Parliament be not sitting then within fourteen days after the next meeting of Parliament”.
Cúram agus bainstí cánach agus dleacht.
18.—Cuirtear faoi chúram agus bainistí na gCoimisinéirí Ioncaim leis seo na cánacha agus na dleachta uile a forchuirtear leis an Acht seo.
Gearrtheideal, forléiriú agus tosach feidhme.
19.—(1) Féadfar an tAcht Airgeadais, 1953, a ghairm den Acht seo.
(2) Forléireofar Cuid I den Acht seo i dteannta na nAcht Cánach Ioncaim.
(3) Forléireofar Cuid II den Acht seo i dteannta na Reacht a bhaineas leis na dleachta máil agus le bainistí na ndleacht sin.
(4) Forléireofar Cuid V den Acht seo i dteannta an Stamp Act, 1891, agus na n-achtachán ag leasú nó ag leathnú an Achta sin.
(5) Measfar Cuid I den Acht seo, ach amháin mar a bhforáltar a mhalairt go sainráite inti, a theacht i bhfeidhm ar an 6ú lá d'Aibreán, 1953, agus beidh éifeacht aici amhail ar an lá sin agus ón lá sin amach.
Number 21 of 1953.
FINANCE ACT, 1953.
ARRANGEMENT OF SECTIONS
INCOME TAX.
Section | |
EXCISE.
CORPORATION PROFITS TAX.
Continuance of certain exemptions from corporation profits tax. |
UNREMITTABLE INCOME: INCOME TAX, SUR-TAX AND CORPORATION PROFITS TAX.
STAMP DUTIES.
MISCELLANEOUS AND GENERAL.
Discharge of death duties by transfer of 5% National Loan, 1962/72. | |
Amendment of section 2 of Public Revenue and Consolidated Fund Charges Act, 1854. | |
Acts Referred to | |
No. 14 of 1941 | |
No. 12 of 1948 | |
No. 16 of 1943 | |
No. 13 of 1949 | |
No. 15 of 1951 | |
No. 24 of 1952 | |
No. 19 of 1945 | |
No. 32 of 1929 | |
No. 31 of 1931 | |
No. 20 of 1932 | |
No. 18 of 1950 | |
No. 33 of 1947 | |
No. 14 of 1952 | |
No. 35 of 1926 | |
No. 28 of 1935 | |
Number 21 of 1953.
FINANCE ACT, 1953.
PART I.
Income Tax.
Income tax and sur tax for the year 1953-54.
1.—(1) Income tax shall be charged for the year beginning on the 6th day of April, 1953, at the rate of seven shillings and six pence in the pound.
(2) Sur-tax for the year beginning on the 6th day of April, 1953, shall be charged in respect of the income of any individual the total of which from all sources exceeds one thousand five hundred pounds and shall be so charged at the same rates as those at which it is charged for the year beginning on the 6th day of April, 1952.
(3) The several statutory and other provisions which were in force on the 5th day of April, 1953, in relation to income tax and sur-tax shall, subject to the provisions of this Act, have effect in relation to the income tax and sur-tax to be charged as aforesaid for the year beginning on the 6th day of April, 1953.
Amendment of section 32 of Income Tax Act, 1918.
2.—Where, with any insurance company or friendly society, being a company or society which is registered in the State and managed and controlled therein, any person, after the 21st day of May, 1953—
(a) makes an insurance on his life or the life of his wife, or
(b) contracts for any deferred annuity on his own life or the life of his wife,
the amount of any relief to which he is entitled under section 32 of the Income Tax Act, 1918, as amended by subsequent enactments, shall as regards that insurance or contract be ascertained as if, in clause (A) of paragraph (i) of subsection (1) and in clause (A) of subparagraph (i) of paragraph (e) of subsection (3) of the said section, the words “two-thirds of the standard rate of tax” were substituted for the words “half the standard rate of tax.”
Relief in certain cases.
3.—(1) Where as regards, any person to whom the provisions of section 2 of the Finance Act, 1941 (No. 14 of 1941), formerly applied—
(a) such person has income arising in a country outside the State and outside Great Britain and Northern Ireland in respect of which relief was formerly granted by virtue of those provisions, and
(b) the Revenue Commissioners are satisfied in relation to that income that the total tax, that is to say, Irish tax (including sur-tax) in respect of the income together with the corresponding tax of the said country, is in excess of what the said corresponding tax would have been if it had been computed on the basis that such person had been taxable as a person solely resident in the said country in respect of income arising from sources therein,
the Revenue Commissioners may grant a measure of relief not exceeding the amount of the excess.
(2) This section shall be deemed to have come into force on and shall take effect as on and from the 6th day of April, 1952.
PART II.
Excise.
Entertainments duty—rates in the case of cinematographic exhibitions.
4.—On and after the 1st day of September, 1953, section 10 of the Finance Act, 1948 (No. 12 of 1948), shall have effect as if, for the rates specified in subsection (3) thereof, there were substituted the following rates, that is to say:
Rate of Duty | ||||||||||
Where the payment for admission, excluding duty, | ||||||||||
exceeds | 4d. | but | does | not | exceed | 4½d. | ½d. | |||
” | 4½d. | ” | ” | ” | ” | 5d. | 1d. | |||
” | 5d. | ” | ” | ” | ” | 6½d. | 1½d. | |||
” | 6½d. | ” | ” | ” | ” | 8d. | 2d. | |||
” | 8d. | ” | ” | ” | ” | 9d. | 3d. | |||
” | 9d. | ” | ” | ” | ” | 10½d. | 4½d. | |||
” | 10½d. | ” | ” | ” | ” | 1s. 0d. | 6d. | |||
” | 1s. 0d. | ” | ” | ” | ” | 1s. 1d. | 7d. | |||
” | 1s. 1d. | ” | ” | ” | ” | 1s. 3d. | 9d. | |||
” | 1s. 3d. | ” | ” | ” | ” | 1s. 5d. | 10d. | |||
” | 1s. 5d. | ” | ” | ” | ” | 1s. 6d. | 1s. 0d. | |||
” | 1s. 6d. | 1s. 0d. for the first 1s. 6d. and 3d. for every additional 3d. or part of 3d. | ||||||||
Entertainments duty—exemptions.
5.—Entertainments duty within the meaning of and chargeable under section 1 of the Finance (New Duties) Act, 1916, as amended by subsequent enactments shall not be charged or levied on payments for admission to any entertainment in respect of which it is proved to the satisfaction of the Revenue Commissioners—
(a) that the entertainment is promoted by Cumann Peil Cise Baigheach na hEireann or by a club affiliated to or under the direct control of that association and that the entertainment consists solely of an exhibition of the game of basketball, or
(b) that the entertainment is promoted by Cumann Rothaidheachta na hEireann or by a club affiliated to or under the direct control of that association and that the entertainment consists solely of an exhibition of the sport of cycle roller racing at or in connection with which no money is awarded or paid to any of the participants or contestants whether as a prize, remuneration or otherwise.
Entertainments duty—repayments in the case of certain cinematographic exhibitions.
6.—(1) Where—
(a) as respects payments for admission to any entertainment held on or after the 1st day of September, 1953, entertainments duty within the meaning of and chargeable under section (1) of the Finance (New Duties) Act, 1916, as amended by subsequent enactments has been paid, and
(b) it is shown to the satisfaction of the Revenue Commissioners that the entertainment was an entertainment as respects which the conditions specified in subsection (2) of this section were satisfied,
the Revenue Commissioners shall repay to the proprietor of the entertainment an amount equal to fifty per cent. of the duty so paid.
(2) The conditions referred to in paragraph (b) of subsection (1) of this section are:
(a) that the entertainment consists wholly of a cinematographic exhibition, and
(b) that the entertainment is of educational value either—
(i) by reason of the fact that not less than thirty-three and one-third per cent. of the entertainment consists of moving pictures produced by means of a cinematograph film having a continuous sound track from which is produced speech in the Irish language, or
(ii) by reason of the fact that not less than fifty per cent, of the entertainment consists of moving pictures produced by means of a cinematograph film having a continuous sound track from which is produced speech in a language other than the official languages of the State.
(3) An entertainment shall not be regarded as being wholly of an educational character within the meaning of paragraph (b) of subsection (2) of section 10 of the Finance Act, 1943 (No. 16 of 1943), merely because it satisfies the condition specified in paragraph (b) of subsection (2) of this section.
Entertainments duty—amendment of section 13 of Finance Act, 1949.
7.—(1) In this section “the principal section” means section 13 of the Finance Act, 1949 (No. 13 of 1949).
(2) The principal section shall have effect subject to the proviso that—
(a) where the census of population which is for the time being the latest such census shows that the population of a town exceeds five hundred, and
(b) the population of the town according to the immediately preceding census of population did not exceed five hundred,
the population of the town according to such latest census shall, with respect to the period of two years beginning on the day (as certified for the purposes of this proviso by the Minister for Finance by order) of publication of such latest census, be treated for the purposes of the principal section as being reduced so as not to exceed five hundred.
(3) The reference in paragraph (b) of subsection (2) of this section of the population to the town according to the immediately preceding census of population shall be construed, where the proviso to the principal section contained in section 10 of the Finance Act, 1951 (No. 15 of 1951), had effect in relation to that population, as a reference to that population as reduced as specified in that proviso.
(4) Where the census of population which is for the time being the latest such census is the census of population of 1951, the proviso specified in subsection (2) of this section shall have effect with the substitution of a reference to the period of two years beginning on the 1st day of September, 1953, for the reference to the period of two years beginning on the certified day of publication of such census.
Amendment of Finance (Excise Duties) (Vehicles) Act, 1952.
8.—(1) Paragraph (3) of Part II of the Schedule to the Finance (Excise Duties) (Vehicles) Act, 1952 (No. 24 of 1952), is hereby amended by the addition thereto of the following provision:
“Where a farm is carried on as part of or in connection with—
(a) a hospital, sanatorium, convalescent home or similar institution,
(b) a mental institution within the meaning of the Mental Treatment Act, 1945 (No. 19 of 1945),
(c) a monastery, convent or similar institution, or
(d) a college, school or similar institution,
the person carrying on the farm shall be regarded for the purposes of this paragraph as being a person whose chief occupation is farming.”
(2) Subsection (1) of this section shall be deemed to have come into operation on the passing of the Finance (Excise Duties) (Vehicles) Act, 1952.
(3) The appropriate repayments shall be made having regard to the foregoing provisions of this section and the repayments shall be made in accordance with such directions as may be given by the Minister for Local Government.
PART III.
Corporation Profits Tax.
Continuance of certain exemptions from corporation profits tax.
9.—The exemptions from corporation profits tax specified in subsection (1) of section 33 of the Finance Act, 1929 (No. 32 of 1929), as amended by section 30 of the Finance Act, 1931 (No. 31 of 1931), paragraph (b) of subsection (1) of section 47 of the Finance Act, 1932 (No. 20 of 1932), and subsection (2) of section 11 of the Finance Act, 1950 (No. 18 of 1950), shall be given in respect of the period beginning on the 1st day of January, 1953, and ending on the 31st day of December, 1955.
PART IV.
Unremittable Income: Income Tax, Sur-tax and Corporation Profits Tax.
Unremittable income.
10.—(1) In this section—
“tax” means income tax, sur-tax or corporation profits tax, as the case may be;
“particular income” means income arising outside the State, the amount of which is, or is included in, the amount (in this section referred to as the said amount) on which, in accordance with the relevant statute, the tax is computed.
(2) Subject to the other subsections of this section, the provisions of this section shall have effect where—
(a) tax is charged by an assessment for any period, whether beginning before the date of the passing of this Act or otherwise, and whether the assessment has been made before that date or otherwise, and
(b) the tax has not been paid.
(3) In any case in which, on or after the date on which the tax has become payable, such proof is given to the Revenue Commissioners as renders them satisfied that particular income cannot, by reason of legislation in the country in which it arises or of executive action of the Government of that country, be remitted to the State, the Revenue Commissioners may, for the purposes of collection, treat the assessment as if the said amount did not include the particular income, but such treatment shall terminate on the Revenue Commissioners ceasing to be satisfied as aforesaid.
(4) The Revenue Commissioners may, for the purposes of this section, call for such information as they consider necessary.
(5) Any person who is dissatisfied with a decision of the Revenue Commissioners under subsection (3) of this section may, by giving notice in writing to the Revenue Commissioners within twenty-one days after the notification of the decision to him, apply to have the matter referred to the Special Commissioners, whose decision shall be final.
Construction of this Part of this Act.
11.—This Part of this Act shall, so far as relating to income tax (including sur-tax), be read and construed together with the Income Tax Acts and shall, so far as relating to corporation profits tax, be read and construed together with Part V of the Finance Act, 1920, as amended or extended by subsequent enactments.
PART V.
Stamp Duties.
Exchanges.
12.—(1) In this section “the principal Act” means the Stamp Act, 1891.
(2) (a) Where upon the exchange of any property for any other property the properties exchanged are not of equal value, the principal or only instrument (in this subsection referred to as the said instrument) whereby the exchange is effected shall be charged with the same stamp duty, and be subject to the provisions of the principal Act (as amended by subsequent enactments), as if, instead of being such instrument, it were a conveyance on sale of the property which is of the greater value—
(i) which was made in consideration of a sum equal to the difference between the values of the properties exchanged,
(ii) which was made to the person or persons in whom there vests the property which is of the greater value,
(iii) under which the entire beneficial interest passed to the person becoming entitled to the entire beneficial interest in the property which is of the greater value, or, where more than one person becomes entitled to a beneficial interest therein, under which a beneficial interest passed to each of them, and
(iv) which contained any statements and certificates such as are referred to in section 13 of the Finance (No. 2) Act, 1947 (No. 33 of 1947), as amended by subsequent enactments, and section 21 of the Finance Act, 1952 (No. 14 of 1952), that might properly be contained therein if it were in fact such a conveyance on sale.
(b) Where there are several instruments for completing the title of either party to the exchange, the principal instrument is to be ascertained and the other instruments are to be charged with duty in the manner provided in the principal Act in the case of several instruments of conveyance.
(c) The said instrument shall be deemed not to be duly stamped unless the Revenue Commissioners have expressed their opinion thereon in accordance with section 12 of the principal Act.
(d) In this subsection “property” means lands, tenements or hereditaments and “value”, where used in relation to property, means the value of the property free from all charges and incumbrances.
(3) Section 73 of the principal Act shall not apply in relation to an exchange in relation to which subsection (2) of this section applies and the references to the said section 73 contained under the heading “Exchange or Excambion” in the First Schedule to the principal Act shall, in the case of any such exchange, be construed as references to that subsection.
Exemption for certain receipts.
13.—(1) The following exemption shall be substituted for exemption numbered (6) under the heading “Receipt given for, or upon the payment of, money amounting to £2 or upwards” in the First Schedule to the Stamp Act, 1891:
“(6) Receipt given for or on account of any salary, pay or wages, or for or on account of any other like payment made to or for the account or benefit of any person, being the holder of an office or an employee, in respect of his office or employment, or for or on account of money paid in respect of any pension, superannuation allowance, compassionate allowance or other like allowance.”
(2) Subsection (2) of section 38 of the Finance Act, 1926 (No. 35 of 1926), and section 36 of the Finance Act, 1935 (No. 28 of 1935), are hereby repealed.
Refund of stamp duties in certain cases.
14.—(1) In this section—
“the 1947 section” means section 13 of the Finance (No. 2) Act, 1947 (No. 33 of 1947), as amended by subsequent enactments;
“the 1949 section” means section 24 of the Finance Act, 1949 (No. 13 of 1949), as amended by subsequent enactments.
(2) Where—
(a) an instrument has (whether before or after the passing of this Act) been charged with stamp duty in accordance with subsection (5) of the 1947 section,
(b) a person requires under section 12 of the Stamp Act, 1891, the Revenue Commissioners to express their opinion with reference to the instrument, and
(c) it is shown to the satisfaction of the Revenue Commissioners that the person who became entitled under the instrument to the entire beneficial interest in the property conveyed or transferred (or, where more than one person became entitled to a beneficial interest therein, each of them) was, at the date of the execution of the instrument, an Irish citizen,
the instrument shall be deemed to have contained any such statements as are referred to in the 1947 section that could properly have been contained therein, and to have been chargeable with duty accordingly, whether or not it has previously been stamped with a particular stamp denoting that it is duly stamped.
(3) Where—
(a) an instrument has (whether before or after the passing of this Act) been charged with stamp duty in accordance with subsection (5) of the 1949 section,
(b) a person requires under section 12 of the Stamp Act, 1891, the Revenue Commissioners to express their opinion with reference to the instrument, and
(c) it is shown to the satisfaction of the Revenue Commissioners that the person who became entitled to the entire beneficial interest in the lessee's interest under the instrument (or, where more than one person became entitled to a beneficial interest therein, each of them) was, at the date of the execution of the instrument, an Irish citizen, the instrument shall be deemed to have contained any such statements as are referred to in the 1949 section that could properly have been contained therein, and to have been chargeable with duty accordingly, whether or not it has previously been stamped with a particular stamp denoting that it is duly stamped.
(4) In any such case as is referred to in subsection (2) or subsection (3) of this section, the Revenue Commissioners may repay the difference between the amount of duty actually charged on the instrument and the amount deemed to be chargeable thereon by virtue of this section, provided that the application for repayment is made within two years after the date of the passing of this Act or the date of the instrument (whichever date is the later).
(5) The reference in paragraph (a) of subsection (1) of section 19 of the Finance Act, 1951 (No. 15 of 1951), to the enactments in force immediately before the passing of that Act shall be construed as including a reference to the foregoing subsections of this section.
PART VI.
Miscellaneous and General.
Capital Services Redemption Account.
15.—(1) In this section—
“the principal section” means section 22 of the Finance Act, 1950 (No. 18 of 1950);
“the 1952 amending section” means section 23 of the Finance Act, 1952 (No. 14 of 1952);
“the third additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;
“the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.
(2) Subsection (4) of the 1952 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1954, have effect with the substitution of “£463,805” for “£501,922”.
(3) Subsection (6) of the 1952 amending section shall have effect with the substitution of “£292,755” for “£323,127”.
(4) A sum of £767,274 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of March, 1954.
(5) The third additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.
(6) Any amount of the third additional annuity, not exceeding £493,955 in any financial year, may be applied towards defraying the interest on the public debt.
(7) The balance of the third additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.
Discharge of death duties by transfer of 5% National Loan 1962/72.
16.—(1) In this section—
“the Minister” means the Minister for Finance;
“the Loan” means 5% National Loan, 1962/72;
“the Account” means such account as is prescribed pursuant to subsection (3) of this section.
(2) The Minister may by regulations provide that stock of the Loan shall, subject to the regulations, be accepted in payment of any death duty.
(3) Where regulations are made under subsection (2) of this section, a person from whom any sum is due on account of any death duty may, subject to the regulations, pay the sum or any part thereof by means of a transfer, to such account of the Minister as is prescribed by the regulations, of so much of the stock of the Loan as is equal in value at the date of the transfer to the sum or part.
(4) Holdings of stock of the Loan transferred to the Account may be held therein or sold, cancelled or otherwise dealt with as the Minister directs.
(5) The transfer of a holding of stock of the Loan to the Account shall be accepted by the Revenue Commissioners as a cash payment to them of a sum equal to the value of the holding at the date of the transfer.
(6) The Minister shall pay out of the Account to the Revenue Commissioners the values at the dates of transfer of holdings of stock of the Loan transferred to the Account.
(7) Sums paid by way of interest on or redemption of holdings of stock of the Loan held in the Account and sums derived from sales of or other dealings with such holdings shall be paid into the Account.
(8) Sums paid into the Account pursuant to subsection (7) of this section shall be applied in or towards meeting payments which the Minister is required by this section to make to the Revenue Commissioners out of the Account, and any balance shall, as and when the Minister directs, be paid into the Exchequer in repayment of moneys advanced to the Account from the Central Fund or the growing produce thereof, and, if the balance is in excess of the sum required for repaying moneys advanced to the Account from the Central Fund or the growing produce thereof, the excess amount shall be disposed of for the benefit of the Exchequer in such manner as the Minister directs.
(9) There shall be advanced out of the Central Fund or the growing produce thereof to the Account such sums as may be required to meet any payments under this section by the Minister to the Revenue Commissioners out of the Account which are not met under subsection (8) of this section.
(10) For the purpose of providing for advances out of the Central Fund or the growing produce thereof under this section, the Minister may borrow from any person any sum or sums, and for the purpose of such borrowing he may create and issue securities bearing such rates of interest and subject to such conditions as to repayment, redemption or any other matter as he thinks fit, and he shall pay any moneys so borrowed into the Exchequer.
(11) The principal of and interest on any securities issued under this section and the expenses incurred in connection with the issue of such securities shall be charged on and payable out of the Central Fund or the growing produce thereof.
(12) For the purposes of this section—
(a) the value at the date of transfer of any holding of stock of the Loan transferred to the Account shall be the nominal face value with the addition of any interest accrued due at the date of the transfer but then remaining unpaid, after deducting any interest which may be receivable by the transferor after that date, and
(b) interest on any such holding of stock of the Loan shall be deemed to accrue from day to day.
Amendment of section 2 of Public Revenue and Consolidated Fund Charges Act, 1854.
17.—Section 2 of the Public Revenue and Consolidated Fund Charges Act, 1854, is hereby amended by the substitution of the words “the thirtieth day of September” for the words “the thirtieth day of June, if Parliament be sitting, or if Parliament be not sitting then within fourteen days after the next meeting of Parliament”.
Care and management of taxes and duties.
18.—All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.
Short title, construction and commencement.
19.—(1) This Act may be cited as the Finance Act, 1953.
(2) Part I of this Act shall be construed together with the Income Tax Acts.
(3) Part II of this Act shall be construed together with the Statutes which relate to the duties of excise and the management of those duties.
(4) Part V of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.
(5) Part I of this Act shall, save as is otherwise expressly provided therein, be deemed to come into force on and shall take effect as on and from the 6th day of April, 1953.