Finance Act, 1997 (No. 22)

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Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 10 May 1997

Consolidation Status: Updated to reflect all known changes

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	Introductory Text
	Acts Referred to
	Part I Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-78)
	Chapter I Income Tax (ss. 1-15)
Repealed	1. Amendment of provisions relating to exemption from income tax.
Repealed	2. Alteration of rates of income tax.
Repealed	3. Personal reliefs.
Repealed	4. Amendment of provisions relating to the taxation of certain social welfare benefits.
Repealed	5. Amendment of section 4 (separated spouses: adaptation of special provisions as to married persons) of Finance Act, 1983.
Repealed	6. Amendment of section 127 (regulations) of Income Tax Act, 1967.
Repealed	7. Amendment of section 15 (relief for fees paid for part-time third level education) of Finance Act, 1996.
Repealed	8. Relief for fees paid for training courses.
Repealed	9. Amendment of Chapter III (Income Tax: Relief for Investment in Corporate Trades) of Part I of Finance Act, 1984.
Repealed	10. Amendment of section 14 (relief to individuals on loans applied in acquiring interest in companies) of Finance Act, 1992.
Repealed	11. Income from scholarships.
Repealed	12. Amendment of section 115 (exemptions and reliefs in respect of tax under section 114) of Income Tax Act, 1967.
Repealed	13. Tax deductions from payments made to subcontractors.
Repealed	14. Tax relief for agreed pay restructuring.
Repealed	15. Amendment of section 4 (charge of tax on sums applied outside the State in repaying certain loans) of Finance Act, 1971.
	Chapter II Income Tax, Corporation Tax and Capital Gains Tax (ss. 16-51)
Repealed	16. Relief for gifts made to third level institutions.
Repealed	17. Amendment of provisions relating to relief for expenditure on significant buildings, etc.
Repealed	18. Amendment of section 134 (deduction for increase in stock values) of Finance Act, 1996.
Repealed	19. Amendment of section 135 (special provision for qualifying farmers) of Finance Act, 1996.
Repealed	20. Farming: allowances for capital expenditure on the construction of farm buildings etc. for control of pollution.
Repealed	21. Capital allowances for, and deduction in respect of, vehicles.
Repealed	22. Amendment of section 241 (wear and tear of machinery, plant, etc.) of Income Tax Act, 1967.
Repealed	23. Amendment of Chapter I (Industrial Buildings and Structures: Annual Allowances and Balancing Allowances and Charges) of Part XVI of Income Tax Act, 1967.
Repealed	24. Capital allowances: room ownership schemes.
Repealed	25. Capital allowances for buildings used for third level educational purposes.
Repealed	26. Amendment of Chapter IV (Urban Renewal Reliefs: Introduction of New Scheme in Certain Areas) of Part I of Finance Act, 1994.
Repealed	27. Amendment of provisions relating to double rent allowance.
Repealed	28. Amendment of section 39B (relief in relation to income from certain trading operations carried on in Custom House Docks Area) of Finance Act, 1980.
Repealed	29. Relief for pre-trading expenditure.
Repealed	30. Amendment of section 35 (relief for investment in films) of Finance Act, 1987.
Repealed	31. Amendment of section 14 (special portfolio investment accounts) of Finance Act, 1993.
Repealed	32. Amendment of section 18 (taxation of collective investment undertakings) of Finance Act, 1989.
Repealed	33. Taxation of strips of securities.
Repealed	34. Amendment of section 138 (tax treatment of securities issued at a discount) of Finance Act, 1990.
Repealed	35. Amendment of section 17 (undertakings for collective investment) of Finance Act, 1993.
Repealed	36. Amendment of section 31 (interest payments by companies and to non-residents) of Finance Act, 1974.
Repealed	37. Tax credits in respect of distributions.
Repealed	38. Amendment of section 37 (application of section 25 (attribution of distributions to accounting periods) of Finance Act, 1989, to interim dividends) of Finance Act, 1992.
Repealed	39. Amendment of Chapter VIII (taxation of acquisition by a company of its own shares) of Part I of Finance Act, 1991.
Repealed	40. Amendment of section 40 (treatment under Tax Acts of certain employment grants and recruitment subsidies) of Finance Act, 1996.
Repealed	41. Employers’ pension contributions.
Repealed	42. Deemed disposal of assets on company ceasing to be resident in the State.
Repealed	43. Postponement of charge on deemed disposal under section 42.
Repealed	44. Tax on non-resident company recoverable from another member of group or from controlling director.
Repealed	45. Amendment of section 464 (issue of securities with exemption from tax) of Income Tax Act, 1967.
Repealed	46. Amendment of section 470 (securities of Irish local authorities issued abroad) of Income Tax Act, 1967.
Repealed	47. Amendment of section 474 (exemption of certain securities from tax) of Income Tax Act, 1967.
Repealed	48. Replacement of harbour authorities by port companies.
Repealed	49. Treatment of certain profits and gains for tax purposes.
Repealed	50. Amendment of Chapter IX (profit sharing schemes) of Part 1 of, and Third Schedule (profit sharing schemes) to, Finance Act, 1982.
Repealed	51. Employee share ownership trusts.
	Chapter III Urban Renewal Reliefs: Introduction of New Scheme in the Dublin Docklands Area (ss. 52-58)
Repealed	52. Interpretation (Chapter III).
Repealed	53. Qualifying area.
Repealed	54. Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures.
Repealed	55. Capital allowances in relation to construction or refurbishment of certain commercial premises.
Repealed	56. Double rent allowance in respect of rent paid for certain business premises.
Repealed	57. Residential accommodation: allowance to owner-occupiers in respect of expenditure on construction or refurbishment.
Repealed	58. Provisions supplementary to section 57.
	Chapter IV Corporation Tax (ss. 59-69)
Repealed	59. Rate of corporation tax.
Repealed	60. Amendment of section 28A (reduced rate of corporation tax for certain income) of Corporation Tax Act, 1976.
Repealed	61. Repeal of section 80 (exemption of income from carrying out of voluntary health insurance schemes) of Corporation Tax Act, 1976.
Repealed	62. Exemption of harbour authorities and port companies.
Repealed	63. Exemption of income of body designated under Irish Takeover Panel Act, 1997.
Repealed	64. Amendment of section 56 (relief for gifts to The Enterprise Trust Ltd.) of Finance Act, 1992.
Repealed	65. Amendment of section 51 (relief for gifts made to First Step) of Finance Act, 1993.
Repealed	66. Amendment of section 36 (amendment of section 39B (relief in relation to income from certain trading operations carried on in Custom House Docks Area) of Finance Act, 1980) of Finance Act, 1988.
Repealed	67. Amendment of section 35 (profits of life business) of Corporation Tax Act, 1976.
Repealed	68. Amendment of section 36 (investment income reserved for policy holders) of Corporation Tax Act, 1976.
Repealed	69. Amendment of section 46A (deemed disposal and reacquisition of certain assets) of Corporation Tax Act, 1976.
	Chapter V Capital Gains Tax (ss. 70-78)
Repealed	70. Amendment of Schedule 2 to Capital Gains Tax Act, 1975.
Repealed	71. Divorced persons: transfers of assets.
Repealed	72. Separated spouses: transfers of assets.
Repealed	73. Amendment of section 15 (settled property) of Capital Gains Tax Act, 1975.
Repealed	74. Amendment of section 20A (foreign life assurance and deferred annuities: taxation and returns) of Capital Gains Tax Act, 1975.
Repealed	75. Amendment of section 27 (relief for individuals on certain reinvestment) of Finance Act, 1993.
Repealed	76. Amendment of section 66 (reduced rate of capital gains tax on certain disposals of shares by individuals) of Finance Act, 1994.
Repealed	77. Amendment of section 39 (amendment of provisions regarding replacement of assets) of Finance Act, 1982.
Repealed	78. Amendment of section 46 (debts) of Capital Gains Tax Act, 1975.
	Part II Customs and Excise (ss. 79-94)
	Chapter I Vehicle Registration Tax (ss. 79-81)
In force	79. Interpretation (Chapter I).
In force	80. Vehicle built up from chassis or monocoque or assembly.
In force	81. Evidence of computer stored records in court proceedings.
	Chapter II Miscellaneous (ss. 82-94)
Repealed	82. Hydrocarbons and substitute motor fuel.
In force	83. Amendment of section 56 (hydrocarbons) of Finance Act, 1988.
In force	84. Recycled hydrocarbon oil used as a motor fuel.
In force	85. Tobacco products.
In force	86. Amendment of section 1 (interpretation) of Finance (Excise Duty on Tobacco Products) Act, 1977.
In force	87. Amendment of section 10A (offences in relation to tax stamps) of Finance (Excise Duty on Tobacco Products) Act, 1977.
In force	88. Amendment of section 106 (treatment of excisable products released for consumption in another Member State) of Finance Act, 1992.
Repealed	89. Amendment of penalties under section 186 (illegally importing) of Customs Consolidation Act, 1876.
Repealed	90. Amendment of section 34 (amendments relative to penalties) of Finance Act, 1963.
In force	91. Amendment of section 89 (seizure of goods and vehicles) of Finance Act, 1995.
In force	92. Obligation to answer certain questions, detention and arrest in respect of certain tobacco products.
In force	93. Amendment of section 94 (power to deal with seizures before condemnation) of Finance Act, 1995.
Repealed	94. Ships stores.
	Part III Value-Added Tax (ss. 95-114)
Repealed	95. Interpretation (Part III).
Repealed	96. Amendment of section 1 (interpretation) of Principal Act.
Repealed	97. Amendment of section 3A (intra-Community acquisition of goods) of Principal Act.
Repealed	98. Amendment of section 4 (special provisions in relation to the supply of immovable goods) of Principal Act.
Repealed	99. Amendment of section 5 (supply of services) of Principal Act.
Repealed	100. Amendment of section 7 (waiver of exemption) of Principal Act.
Repealed	101. Amendment of section 8 (taxable persons) of Principal Act.
Repealed	102. Amendment of section 10 (amount on which tax is chargeable) of Principal Act.
Repealed	103. Amendment of section 11 (rates of tax) of Principal Act.
Repealed	104. Amendment of section 12 (deduction for tax borne or paid) of Principal Act.
Repealed	105. Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.
Repealed	106. Amendment of section 13 (remission of tax on goods exported, etc.) of Principal Act.
Repealed	107. Amendment of section 19 (tax due and payable) of Principal Act.
Repealed	108. Amendment of section 20 (refund of tax) of Principal Act.
Repealed	109. Amendment of section 25 (appeals) of Principal Act.
Repealed	110. Amendment of First Schedule to Principal Act.
Repealed	111. Amendment of Second Schedule to Principal Act.
Repealed	112. Amendment of Fourth Schedule to Principal Act.
Repealed	113. Amendment of Sixth Schedule to Principal Act.
Repealed	114. Revocation (Part III).
	Part IV Stamp Duties (ss. 115-130)
	Chapter I Special provisions relating to residential property (ss. 115-122)
Repealed	115. Interpretation (Chapter I).
Repealed	116. Commencement (Chapter I).
Repealed	117. Amendment of the First Schedule.
Repealed	118. Amendment of section 122 (definitions) of the Act of 1891.
Repealed	119. Amendment of section 58 (conveyances on sale: direction as to duty in certain cases) of the Act of 1891.
Repealed	120. Amendment of section 77 (leases: directions as to duty in certain cases) of the Act of 1891.
Repealed	121. Surcharges.
Repealed	122. Furnishing of an incorrect certificate.
	Chapter II Miscellaneous (ss. 123-130)
Repealed	123. Amount chargeable to duty where chargeable on new dwellinghouse or apartment.
Repealed	124. Provision relating to section 112 (stamp duty on transfers of building land) of Finance Act, 1990.
Repealed	125. Amendment of section 207 (exemption from stamp duty of certain financial services instruments) of Finance Act, 1992.
Repealed	126. Amendment of section 112 (relief from stamp duty in respect of transfers to young trained farmers) of Finance Act, 1994 .
Repealed	127. Exemption of certain transfers from stamp duty following the dissolution of a marriage.
Repealed	128. Exemption from stamp duty of certain instruments (Dublin Docklands Development Authority).
Repealed	129. Exemption from stamp duty of certain policies of health insurance.
Repealed	130. Repeal (Part IV).
	Part V Residential Property Tax (ss. 131-132)
In force	131. Abolition of residential property tax.
In force	132. Amendment of section 110A (clearance on sale of certain residential property) of Finance Act, 1983.
	Part VI Capital Acquisitions Tax (ss. 133-143)
In force	133. Interpretation (Part VI).
In force	134. Amendment of section 19 (value of agricultural property) of Principal Act.
In force	135. Amendment of section 57 (exemption of certain securities) of Principal Act.
In force	136. Second Schedule (computation of tax) to Principal Act, declaratory provision.
In force	137. Amendment of section 39 (extension of section 55 (exemption of certain objects) of Capital Acquisitions Tax Act, 1976) of Finance Act, 1978.
In force	138. Amendment of section 117 (reduction of market value of certain dwellings) of Finance Act, 1991.
In force	139. Amendment of section 126 (business relief) of Finance Act, 1994.
In force	140. Amendment of section 127 (relevant business property) of Finance Act, 1994.
In force	141. Amendment of section 135 (withdrawal of relief) of Finance Act, 1994.
In force	142. Exemption of certain transfers from capital acquisitions tax following the dissolution of a marriage.
In force	143. Abatement and postponement of probate tax on certain property.
	Part VII Miscellaneous Pre-Consolidation Provisions (ss. 144-156)
	Chapter I Income Tax, Corporation Tax and Capital Gains Tax (ss. 144-146)
Repealed	144. Securities of certain State-owned companies.
Repealed	145. Relief for interest paid on certain home loans.
Repealed	146. Pre-consolidation amendments and repeals.
	Chapter II Urban Renewal: Temple Bar Area (ss. 147-156)
Repealed	147. Preliminary and general.
Repealed	148. Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures.
Repealed	149. Capital allowances in relation to construction or refurbishment of certain commercial premises.
Repealed	150. Double rent allowance in respect of rent paid for certain business premises.
Repealed	151. Rented residential accommodation: deduction for certain expenditure on construction.
Repealed	152. Rented residential accommodation: deduction for certain expenditure on conversion.
Repealed	153. Rented residential accommodation: deduction for certain expenditure on refurbishment.
Repealed	154. Residential accommodation: allowance to owner-occupiers in respect of expenditure on construction or refurbishment.
Repealed	155. Provisions supplementary to sections 151 to 154.
Repealed	156. Repeals and consequential amendments.
	Part VIII Miscellaneous (ss. 157-166)
Repealed	157. Amendment of section 162 (Collector-General) of Income Tax Act, 1967.
Repealed	158. Amendment of section 23 (publication of names of defaulters) of Finance Act, 1983.
Repealed	159. Evidence of authorisation.
In force	160. Tax clearance for moneylenders, mortgage intermediaries and credit intermediaries.
In force	161. Amendment of section 54 (creation and issue of securities by Minister for Finance) of Finance Act, 1970, etc.
In force	162. Advance of moneys to Post Office Savings Bank Fund by the Minister for Finance.
In force	163. Amendment of National Treasury Management Agency Act, 1990.
Repealed	164. Capital Services Redemption Account.
In force	165. Care and management of taxes and duties.
In force	166. Short title, construction and commencement.
Repealed	First Schedule Amendments Consequential on Changes in Personal Reliefs
Repealed	Second Schedule Amendments Consequential on Changes in Amounts of Tax Credits in Respect of Distributions
Repealed	Third Schedule Employee Share Ownership Trusts
Repealed	Fourth Schedule Farm Buildings and Structures to Which Allowances for the Control of Pollution Apply
Repealed	Fifth Schedule Replacement of Harbour Authorities by Port Companies
	Sixth Schedule Change in Rate of Corporation Tax: Consequential Provisions
Repealed	Sixth Schedule, Part I Application of sections 6(3), 13(1B), 182 and 184 of Corporation Tax Act, 1976
Repealed	Sixth Schedule, Part II Amendment of Chapter VI (Corporation Tax: Relief in relation to Certain Income of Manufacturing Companies) of Part I of Finance Act, 1980
In force	Seventh Schedule Rates of Excise Duty on Tobacco Products
	Eighth Schedule Stamp Duty on Instruments
In force	Eighth Schedule, Part I Conveyance or Transfer on Sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance
In force	Eighth Schedule, Part II Lease
	Ninth Schedule
Repealed	Ninth Schedule, Part I Pre-Consolidation Amendments
Repealed	Ninth Schedule, Part II Pre-Consolidation Repeals
Repealed	Tenth Schedule Income Tax and Corporation Tax: Reliefs for Certain Enterprise Areas

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Finance Act, 1997 (No. 22)

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