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Finance Act 2015 (No. 52)Introductory TextActs Referred ToPart 1 Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-42)Chapter 1 Interpretation (s. 1)1. Interpretation (Part 1)Chapter 2 Universal Social Charge (s. 2)2. Amendment of Part 18D of Principal Act (universal social charge)Chapter 3 Income Tax (ss. 3-14)3. Earned income tax credit4. Amendment of section 466A of Principal Act (home carer tax credit)5. Amendment of section 192A of Principal Act (exemption in respect of certain payments under employment law)6. Exemption in respect of certain expense payments for relevant directors7. Exemption in respect of certain expenses of State Examinations Commission examiners8. Amendment of section 470 of Principal Act (relief for insurance against expenses of illness)9. Amendment of section 477B of Principal Act (home renovation incentive)10. Professional services withholding tax11. Granting of vouchers12. Amendment of section 372AP of Principal Act (relief for lessors)13. Amendment of section 959B of Principal Act (supplemental interpretation provisions)14. Amendment of Schedule 25B to Principal Act (list of specified reliefs and method of determining amount of specified relief used in a tax year)Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax (ss. 15-29)15. Amendment of section 97 of Principal Act (computational rules and allowable deductions)16. Amendment of section 256 of Principal Act (interpretation (Chapter 4))17. Amendment of section 481 (relief for investment in films) and section 851A (confidentiality of taxpayer information) of Principal Act18. Income tax relief for investment in corporate trades - employment and investment incentive and seed capital scheme19. Farming and market gardening20. Petroleum production tax21. Amendment of Chapter 1 of Part 33 of Principal Act (anti-avoidance)22. Amendment of Schedule 2 to Principal Act (machinery for assessment, charge and payment of tax under Schedule C and, in certain cases, Schedule D)23. Amendment of section 730E of Principal Act (declarations)24. Charities Regulatory Authority and Common Investment Fund25. Amendment of Part 18 of Principal Act (payments in respect of professional services by certain persons and payments to subcontractors in certain industries)26. Amendment of Part 27 of Principal Act (unit trusts and offshore funds)27. Industrial building allowances: aviation services facilities28. Amendment of section 1035A of Principal Act (relieving provision to section 1035)29. Amendment of Part 36 of Principal Act (miscellaneous special provisions)Chapter 5 Corporation Tax (ss. 30-34)30. Amendment of section 486C of Principal Act (relief from tax for certain start-up companies)31. Amendment of section 765 of Principal Act (allowances for capital expenditure on scientific research)32. Amendment of Part 29 of Principal Act (patents, scientific and certain other research, know-how and certain training)33. Country-by-country reporting34. Amendment of section 831 of Principal Act (implementation of Council Directive No. 90/435/EEC concerning the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States)Chapter 6 Capital Gains Tax (ss. 35-42)35. Entrepreneur relief36. Amendment of section 29 of Principal Act (persons chargeable)37. Amendment of section 541B of Principal Act (restrictive covenants)38. Amendment of section 542 of Principal Act (time of disposal and acquisition)39. Amendment of section 590 of Principal Act (attribution to participators of chargeable gains accruing to non-resident company)40. Amendment of Part 20 of Principal Act (companies' chargeable gains)41. Amendment of section 615 of Principal Act (company reconstruction or amalgamation: transfer of assets)42. Amendment of section 980 of Principal Act (deduction from consideration on disposal of certain assets)Part 2 Excise (ss. 43-50)43. Amendment of Chapter 1 of Part 2 of Finance Act 2003 (alcohol products tax)44. Amendment of Chapter 4 of Part 2 of Finance Act 2001 (powers of officers)45. Rates of tobacco products tax46. Amendment of section 99 of Finance Act 2001 (liability of persons)47. Amendment of section 109 of Finance Act 2001 (authorisation of warehousekeepers and approval of tax warehouses)48. Amendment of section 130 of Finance Act 1992 (interpretation)49. Amendment of section 135D of Finance Act 1992 (repayment of amounts of vehicle registration tax on export of certain vehicles)50. Amendment of section 141 of Finance Act 1992 (regulations)Part 3 Value-Added Tax (ss. 51-60)51. Interpretation (Part 3)52. Supplies of gas, electricity, gas certificates and electricity certificates - reverse charge53. Adjustments to returns54. Exempted education activities55. Amendment of section 64 of Principal Act (capital goods scheme)56. Amendment of section 65 of Principal Act (registration)57. Amendment of section 87 of Principal Act (margin scheme - taxable dealers)58. Cancellation of a registration number - special provisions for notification and publication59. Amendment of section 110 of Principal Act (estimation of tax due)60. Amendment of Schedule 1 to Principal Act (exempt activities)Part 4 Stamp Duties (ss. 61-65)61. Interpretation (Part 4)62. Amendment of Schedule 2B to Principal Act (qualifications for applying for relief from stamp duty in respect of transfers to young trained farmers)63. Amendment of section 81AA of Principal Act (transfers to young trained farmers)64. Amendment of section 123B of Principal Act (cash, combined and debit cards)65. Amendment of section 124 of Principal Act (credit cards and charge cards)Part 5 Capital Acquisitions Tax (ss. 66-67)66. Interpretation (Part 5)67. Amendment of Schedule 2 to Principal Act (computation of tax)Part 6 Miscellaneous (ss. 68-90)68. Interpretation (Part 6)69. Tax treatment of return of value on certain shares where shareholders affected by postal delays70. Marriage equality71. Amendment of Chapter 3 of Part 33 of Principal Act (mandatory disclosure of certain transactions)72. Amendment of section 851A of Principal Act (confidentiality of taxpayer information)73. Amendment of section 886 of Principal Act (obligation to keep certain records)74. Amendment of Part 38 of Principal Act (returns of income and gains, other obligations and returns, and Revenue powers)75. Amendment of Chapter 4 of Part 38 of Principal Act (Revenue powers)76. Amendment of section 888 of Principal Act (returns, etc. by lessors, lessees and agents)77. Discharge of Revenue Commissioners' and Collector-General's functions78. Amendment of section 1077E of Principal Act (penalty for deliberately or carelessly making incorrect returns, etc.)79. Amendment of section 826 of Principal Act (agreements for relief from double taxation)80. Amendment of Schedule 24A to Principal Act (arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax)81. Fuel grant82. Offences and penalties relating to fuel grant83. Exemption in respect of fuel grant84. Amendment of section 92 of Finance Act 198985. Exemption in respect of water conservation grant86. Miscellaneous amendments of Principal Act in relation to authorisations granted under section 9A of Central Bank Act 197187. Amendment of section 54 of Finance Act 197088. Miscellaneous technical amendments in relation to tax89. Care and management of taxes and duties90. Short title, construction and commencementSchedule - Miscellaneous Amendments of Principal Act in relation to Authorisations granted under section 9A of Central Bank Act 1971
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
Version 2 of 2

29. Amendment of Part 36 of Principal Act (miscellaneous special provisions)

Part 36 of the Principal Act is amended by inserting the following after section 845B:

"845C. Treatment of Additional Tier 1 instruments

(1) In this section -

'Additional Tier 1 instrument' means an instrument which qualifies, or has qualified, as an Additional Tier 1 instrument under Article 52 of the Capital Requirements Regulation;

'Capital Requirements Regulation' means Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 [OJ No. L176, 27.6.2013, p.1] on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012 [OJ No. L201, 27.7.2012, p.1];

'coupon' means a distribution, within the meaning of Article 4 of the Capital Requirements Regulation, in respect of an Additional Tier 1 instrument.

(2) For the purposes of the Tax Acts, an Additional Tier 1 instrument shall be regarded as a debt instrument.

(3) For the purposes of the Tax Acts, a coupon in respect of an Additional Tier 1 instrument -

(a) shall be regarded as interest, and

(b) shall not be regarded as a distribution or a charge on income.

(4) Section 64 shall apply, with any necessary modifications, to an Additional Tier 1 instrument as it applies to a quoted Eurobond.

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