Table of Contents
Finance Act, 1999 (No. 2)Introductory TextActs Referred toPart 1 Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-93)Chapter 1 Interpretation (s. 1)1. Interpretation (Part 1).Chapter 2 Income Tax (ss. 2-26)2. Amendment of provisions relating to exemption from income tax.3. Alteration of rates of income tax.4. Personal reliefs.5. Reliefs for widowed parents and other single parents.6. Amendment of Chapter 1 of Part 15 of the Principal Act.7. Employee allowance.8. Amendment of section 468 (relief for blind persons) of Principal Act.9. Employed person taking care of incapacitated individual.10. Amendment of section 122 (preferential loan arrangements) of Principal Act.11. Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act.12. Treatment of income arising as a result of certain public subscriptions raised on behalf of incapacitated individuals.13. Amendment of Chapter 1 (income tax) of Part 7 of Principal Act.14. Amendment of section 201 (exemptions and reliefs in respect of tax under section 123) of Principal Act.15. Seafarer allowance, etc.16. Amendment of Part 16 (income tax relief for investment in corporate trades - business expansion scheme and seed capital scheme) of Principal Act.17. Amendment of Schedule 13 (accountable persons for purposes of Chapter 1 of Part 18) to Principal Act.18. Amendment of Chapter 2 (payments to subcontractors in certain industries) of Part 18 of Principal Act.19. Retirement benefits.20. Purchased life annuities.21. Amendment of section 823 (deduction for income earned outside the State) of Principal Act.22. Amendment of section 869 (delivery, service and evidence of notices and forms) of Principal Act.23. Amendment of section 961 (issue of demand notes and receipts) of Principal Act.24. Amendment of Chapter 4 (collection and recovery of income tax on certain emoluments (PAYE system)) of Part 42 of Principal Act.25. Amendment of section 987 (penalties for breach of regulations) of Principal Act.26. Relief for fees paid to publicly funded colleges in the European Union for full-time third level education.Chapter 3 Dividend withholding tax (ss. 27-29)27. Dividend withholding tax.28. Distributions to certain non-residents.29. Amendment of section 831 (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) of Principal Act.Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax (ss. 30-67)30. Construction of references to oaths, etc.31. Amendment of section 97 (computational rules and allowable deductions) of Principal Act.32. Amendment of section 110 (securitisation of assets) of Principal Act.33. Amendment of section 118 (benefits-in-kind: general charging provision) of Principal Act.34. Exemption from benefit-in-kind of certain childcare facilities.35. Amendment of section 472A (relief for the long-term unemployed) of Principal Act.36. Amendment of section 485 (relief for gifts to third-level institutions) of Principal Act.37. Relief for gifts to the Scientific and Technological Education (Investment) Fund.38. Amendment of section 225 (employment grants) of Principal Act.39. Amendment of section 246 (interest payments by companies and to non-residents) of Principal Act.40. Returns of interest paid to non-residents.41. Amendment of Schedule 29 (provisions referred to in sections 1052, 1053 and 1054) to Principal Act.42. Amendment of section 2 (commencement) of Urban Renewal Act, 1998.43. Amendment of section 330 (interpretation (Chapter 2)) of Principal Act.44. Amendment of Chapter 3 (designated areas, designated streets, enterprise areas and multi-storey car parks in certain urban areas) of Part 10 of Principal Act.45. Amendment of section 351 (interpretation (Chapter 4)) of Principal Act.46. Amendment of section 360 (interpretation (Chapter 5)) of Principal Act.47. Amendment of Chapter 8 (qualifying rural areas) of Part 10 of Principal Act.48. Capital allowances for private convalescent homes.49. Capital allowances for buildings used for certain childcare purposes.50. Relief for provision of certain student accommodation.51. Amendment of section 843 (capital allowances for buildings used for third level educational purposes) of Principal Act.52. Amendment of section 403 (restriction on use of capital allowances for certain leased assets) of Principal Act.53. Capital allowances for, and deduction in respect of, vehicles.54. Amendment of section 666 (deduction for increase in stock values) of Principal Act.55. Amendment of section 667 (special provisions for qualifying farmers) of Principal Act.56. Amendment of Chapter 1 (general) of Part 20 (companies' chargeable gains) of Principal Act.57. Restriction on set-off of pre-entry losses.58. Amendment of section 746 (offshore income gains accruing to persons resident or domiciled abroad) of Principal Act.59. Amendment of Chapter 1 (purchase and sale of securities) of Part 28 of Principal Act.60. Amendment of Part 33 (anti-avoidance) of Principal Act.61. Amendment of section 481 (relief for investment in films) of Principal Act.62. Amendment of section 723 (special investment policies) of Principal Act.63. Amendment of section 737 (special investment schemes) of Principal Act.64. Amendment of section 738 (undertakings for collective investment) of Principal Act.65. Amendment of section 838 (special portfolio investment accounts) of Principal Act.66. Amendment of section 839 (limits to special investments) of Principal Act.67. Amendment of section 832 (provisions in relation to Convention for reciprocal avoidance of double taxat on in the State and the United Kingdom of income and capital gains) of Principal Act.Chapter 5 Savings-Related Share Option Schemes and Employee Share Schemes (ss. 68-69)68. Savings-related share option schemes.69. Employee share schemes.Chapter 6 Income Tax and Corporation Tax: Tax reliefs for the provision of Park and Ride Facilities and for Certain Related Developments (s. 70)70. Amendment of Part 10 (income tax and corporation tax: reliefs for renewal and improvement of certain urban areas, certain resort areas and certain islands) of Principal Act.Chapter 7 Corporation Tax (ss. 71-86)71. Rate of corporation tax.72. Amendment of section 22 (reduced rate of corporation tax for certain income) of Principal Act.73. Higher rate of corporation tax.74. Provisions relating to 10 percent rate of corporation tax.75. Amendment of section 88 (deduction for gifts to Enterprise Trust Ltd.) of Principal Act.76. Income of Investor Compensation Company Ltd.77. Withdrawal of exemption from corporation tax for Bord Gáis Éireann.78. Amendment of Chapter 5 (group relief) of Part 12 of Principal Act.79. Amendment of section 130 (matters to be treated as distributions) of Principal Act.80. Amendment of section 486 corporation tax: relief for gifts to First Step) of Principal Act.81. Amendment of Schedule 24 (relief from income tax and corporation tax by means of credit in respect of foreign tax) to Principal Act.82. Company residence.83. Amendment of section 882 (particulars to be supplied by new companies) of Principal Act.84. Amendment of Chapter 2 (other corporation tax penalties) of Part 47 of Principal Act.85. Amendment of sections 198, 710 and 734 of Principal Act.86. Amendment of section 707 (management expenses) of Principal Act.Chapter 8 Capital Gains Tax (ss. 87-93)87. Amendment of section 541A (treatment of debts on a change in currency) of Principal Act.88. Amendment of Chapter 3 (assets held in a fiduciary or representative capacity, inheritances and settlements) of Part 19 of Principal Act.89. Amendment of Chapter 4 (shares and securities) of Part 19 of Principal Act.90. Amendment of Chaper 7 (other reliefs and exemptions) of Part 19 of Principal Act.91. Amendment of section 649A (relevant disposals: rate of charge) of Principal Act.92. Amendment of Chaper 5 (capital gains tax: returns, information, etc.) of Part 38 of Principal Act.93. Amendment of Schedule 15 (list of bodies for purposes of section 610) to Principal Act.Part 2 Customs and Excise (ss. 94-118)Chapter 1 Mineral Oil Tax (ss. 94-109)94. Interpretation (Chapter 1).95. Charge of tax.95A. Liability to mineral oil tax on coal.95B. Supply of vehicle gas.95C. Liability to pay mineral oil tax on vehicle gas.95D. Registration of vehicle gas suppliers.95E. Returns and payment by vehicle gas suppliers.96. Rates.97. Rates lower than standard rates.97A. Private pleasure navigation.97B. Private pleasure flying.98. Horticultural production.98A. Biofuel pilot projects.99. Passenger road services.99A. Relief for qualifying road transport operators.100. Reliefs from mineral oil tax for certain mineral oils.100A. Mineral oil tax on coal.101. Licensing of mineral oil traders.101A. Registration.101B. Return of oil movements.102. Offences.102A. Consequential provisions relating to offences.103. Presumptions in certain proceedings.104. Regulations.105. General provisions.106. Repeals and revocations.107. Continuity.108. Care and management of mineral oil tax.109. Commencement (Chapter 1).Chapter 2 Miscellaneous (ss. 110-118)110. Hydrocarbons.111. Tobacco products.112. Amendment of section 104 (excisable products) of Finance Act, 1992.113. Amendment of Chapter II (Powers of Officers) of Part II of Finance Act, 1995.114. Amendment of section 105 (appeals to the Appeal Commissioners) of Finance Act, 1995.115. Amendment of section 130 (interpretation) of Finance Act, 1992.116. Amendment of section 132 (charge of excise duty) of Finance Act, 1992.117. Bets, reduction in rate of excise duty.118. Increase in penalties for betting offences.Part 3 Value-Added Tax (ss. 119-139)119. Interpretation (Part 3).120. Amendment of section 3 (supply of goods) of Principal Act.121. Amendment of section 5 (supply of services) of Principal Act.122. Special scheme for investment gold.123. Amendment of section 8 (taxable persons) of Principal Act.124. Amendment of section 10 (amount on which tax is chargeable) of Principal Act.125. Amendment of section 10A (margin scheme goods) of Principal Act.126. Amendment of section 10B (special scheme for auctioneers) of Principal Act.127. Amendment of section 11 (rates of tax) of Principal Act.128. Amendment of section 12 (deduction for tax borne or paid) of Principal Act.129. Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.130. Amendment of section 12B (special scheme for means of transport supplied by taxable dealers) of Principal Act.131. Special scheme for agricultural machinery.132. Amendment of section 13 (remission of tax on goods exported, etc.) of Principal Act.133. Amendment of section 16 (duty to keep records) of Principal Act.134. Amendment of section 17 (invoices) of Principal Act.135. Amendment of section 19 (tax due and payable) of Principal Act.136. Generation of estimates and assessments by electronic, photographie or other process.137. Amendment of section 32 (regulations) of Principal Act.138. Amendment of First Schedule to Principal Act.139. Amendment of Second Schedule to Principal Act.Part 4 Stamp Duties (ss. 140-197)Chapter 1 General Provisions (ss. 140-146)140. Provision relating to First Schedule to Stamp Act, 1891.141. Amendment of section 114 (exemption from stamp duty of transfers by spouses) of Finance Act, 1990.142. Amendment of section 207 (exemption from stamp duty of certain financial services instruments) of Finance Act, 1992.143. Amendment of section 106 (exemption from stamp duty of certain loan capital and securities) of Finance Act, 1993.144. Amendment of section 150 (stock borrowing) of Finance Act, 1995.145. Amendment of section 121 (surcharges) of Finance Act, 1997.146. Amendment of section 6 (commencement (Part 2)) of Finance (No. 2) Act, 1998.Chapter 2 Pre-consolidation measures (ss. 147-197)147. Interpretation (Chapter 2).148. Application (Chapter 2).149. Amendment of section 3 (power to grant licences to deal in stamps) of Management Act of 1891.150. Amendment of section 4 (penalty for unauthorised dealing in stamps, etc.) of Management Act of 1891.151. Amendment of section 6 (penalty for hawking stamps) of Management Act of 1891.152. Amendment of section 13 (certain offences in relation to dies and stamps provided by Commissioners to be felonies) of Management Act of 1891.153. Amendment of section 18 (licensed person in possession of forged stamps to be presumed guilty until contrary is shown) of Management Act of 1891.154. Amendment of section 20 (as to defacement of adhesive stamps) of Management Act of 1891.155. Amendment of section 21 (penalty for frauds in relation to duties) of Management Act of 1891.156. Amendment of section 5 (facts and circumstances affecting duty to be set forth in instruments) of Act of 1891.157. Amendment of section 8 (general direction as to the cancellation of adhesive stamps) of Act of 1891.158. Amendment of section 9 (penalty for frauds in relation to adhesive stamps) of Act of 1891.159. Amendment of section 16 (rolls, books, etc. to be open to inspection) of Act of 1891.160. Amendment of section 17 (penalty for enrolling, etc. instrument not duly stamped) of Act of 1891.161. Amendment of section 100 (penalty for not making out policy, or making, etc. any policy not duly stamped) of Act of 1891.162. Amendment of section 107 (penalty for issuing share warrant not duly stamped) of Act of 1891.163. Amendment of section 109 (penalty for issuing stock certificate unstamped) of Act of 1891.164. Amendment of section 49 (exemption of certain instruments from stamp duty) of Finance Act, 1969.165. Amendment of section 41 (stamp duty on bills of exchange and promissory notes) of Finance Act, 1970.166. Amendment of section 109 (application of certain provisions relating to penalties under Income Tax Act, 1967) of Finance Act, 1991.167. Amendment of section 107 (particulars to be delivered in cases of transfers and leases) of Finance Act. 1994.168. Amendment of section 112 (relief from stamp duty in respect of transfers to young trained farmers) of Finance Act, 1994.169. Amendment of section 107 (relief for member firms) of Finance Act, 1996.170. Amendment of section 108 (obligations of system-members) of Finance Act, 1996.171. Amendment of section 14 (relief from stamp duty for certain new houses or apartments) of Finance (No. 2) Act, 1998.172. Amendment of section 26 (recovery of fines) of Management Act of 1891.173. Amendment of section 13 (persons dissatisfied may appeal) of Act of 1891.174. Amendment of section 74 (appeals in certain cases) of Finance Act, 1973.175. Amendment of section 103 (provision relating to voluntary disposition inter vivos, etc.) of Finance Act, 1991.176. Amendment of First Schedule to Act of 1891.177. Amendment of section 23 (certain mortgages of stock to be chargeable as agreements) of Act of 1891.178. Amendment of section 41 (bills of sale) of Act of 1891.179. Amendment of section 118 (assignment of policy of life assurance to be stamped before payment of money assured) of Act of 1891.180. Amendment of section 74 (stamp duty on gifts inter vivos) of Finance (1909-10) Act, 1910.181. Amendment of section 31 (certain contracts for sale of leasehold interests to be chargeable as conveyances on sale) of Finance Act, 1978.182. Amendment of section 19 (conveyance or transfer on sale - limit on stamp duty in the case of certain transactions between bodies corporate) of Finance Act, 1952.183. Amendment of section 31 (relief from capital and transfer stamp duty in case of reconstructions or amalgamations of companies) of Finance Act, 1965.184. Amendment of section 9 (precedure for obtaining allowance) of Management Act of 1891.185. Allowance for lost instruments.186. Amendment of section 1 (charge of duties in schedule) of Act of 1891.187. Amendment of section 12 (assessment of duty by Commissioners) of Act of 1891.188. Amendment of section 14 (terms upon which instruments not duly stamped may be received in evidence) of Act of 1891.189. Amendment of section 58 (direction as to duty in certain cases) of Act of 1891.190. Amendment of section 77 (directions as to duty in certain cases) of Act of 1891.191. Amendment of section 122 (definitions) of Act of 1891.192. Amendment of section 5 (extension of stamp duty on share warrants and stock certificates to bearer) of Finance Act, 1899.193. Amendment of section 40 (stamp duties in foreign currencies) of Finance Act, 1933.194. Amendment of section 69 (statement to be charged with stamp duty) of Finance Act, 1973.195. Amendment of section 92 (levy on certain premiums of insurance) of Finance Act, 1982.196. Amendment of section 208 (location of insurance risk for stamp duty purposes) of Finance Act, 1992.197. Repeals (Chapter 2).Part 5 Residential Property Tax (s. 198)198. Amendment of section 100 (market value exemption limit) of Finance Act, 1983.Part 6 Capital Acquisitions Tax (ss. 199-206)199. Interpretation (Part 6).200. Amendment of section 36 (delivery of returns) of Principal Act.201. Amendment of Second Schedule (computation of tax) to Principal Act.202. Amendment of section 41 (payment of tax and interest on tax) of Principal Act.203. Amendment of section 51 (appeals regarding value of real property) of Principal Act.204. Amendment of section 53 (exemption of small gifts) of Principal Act.205. Amendment of section 53 (exemption of small certain receipts) of Principal Act.206. Exemption relating to retirement benefits.Part 7 Miscellaneous (ss. 207-217)207. Amendment of Chapter 4 (revenue powers) of Part 38 of Taxes Consolidation Act, 1997.208. Power to obtain information from a Minister of the Government or public body.209. Electronic filing of tax returns.210. Amendment of section 884 (returns of profits) of Taxes Consolidation Act, 1997.211. Amendment of section 1078 (revenue offences) of Taxes Consolidation Act, 1997.212. Amendment of section 1094 (tax clearance in relation to certain licences) of Taxes Consolidation Act, 1997.213. Discharge by Minister for Finance of liability in respect of certain borrowings by Minister for Agriculture and Food.214. Amendment of Industrial Development Act, 1995.215. Capital Services Redemption Account.216. Care and management of taxes and duties.217. Short title, construction and commencement.Schedule 1 Amendments Consequential on Change in Rate of Corporation TaxSchedule 2 Rates of Mineral Oil TaxSchedule 2A Carbon ChargeSchedule 3 Repeals and Revocations relating to Excise Duty on Mineral OilSchedule 4 Rates of Excise Duty on Tobacco ProductsSchedule 5 Stamp Duties on InstrumentsSchedule 6 Stamp Duties, etc.
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96. Rates.
(1) Mineral oil tax shall be charged at the rates specified in Schedule 2.
(a) Where a rate is specified in Schedule 2A for any description of mineral oil, that rate, referred to in this Chapter as the 'carbon charge', is included in the rate of tax specified in Schedule 2 for that description of mineral oil.
(b) The rate of tax per 1,000 litres specified for each description of mineral oil, other than vehicle gas in Schedule 2A, is in proportion to the emissions of CO2 from the combustion of the description of mineral oil concerned.
(c) The rate of tax per megawatt hour at gross calorific value specified for vehicle gas in Schedule 2A is in proportion to the emissions of CO2 from the combustion of natural gas.
(1B) The rate per 1,000 litres specified for each description of mineral oil, other than vehicle gas, in Schedule 2A is in proportion to the emissions for the description of mineral oil concerned, and is determined by the formula -
NCV × EF × A
where -