Link Report

(f) (i) any payments made by the company in the specified period to which section 237 or 238 applies, other than payments which are deductible in computing the profits or gains or losses of a trade carried on by the company,

“annual payment” means any payment from which, apart from any insufficiency of profits or gains of the persons making it, income tax is deductible under section 237;

(ii) be treated for the purposes of sections 81(2)(m), 237 and 238 as if it were a royalty paid in respect of the user of a patent.

(b) the amount or value of the distribution shall be treated for the purposes of sections 237 and 238 as not brought into charge to income tax.

(b) the amount or value of the distribution shall be treated for the purposes of sections 237 and 238 as not brought into charge to income tax.

(b) the amount or value of the distribution shall be treated for the purposes of sections 237 and 238 as not brought into charge to income tax.

(a) any yearly interest, annuity or other annual payment and any other payments mentioned in section 104 or 237(2), and

and do not include, in relation to any person referred to in paragraphs (a) and (b), any expenditure or sum in the case of which a deduction of tax is to be or may be made under section 237 or 238.

(c) notwithstanding paragraph (a), the income included by virtue of that paragraph in the total income of that person shall be treated for the purposes of sections 237 and 238 as not brought into charge to income tax, and

(b) from which tax is deductible by virtue of section 237 or 238,

“dividends to which this Chapter applies” means any interest, dividends or other annual payments payable out of or in respect of the stocks, funds, shares or securities of any body of persons not resident in the State, but does not include any payment to which section 237 or 238 applies, and references to dividends shall be construed accordingly;

(4) In applying section 237 to any annual payment made by a person whose profits or gains for the purposes of income tax arise wholly or partly from petroleum activities—

(ii) a deposit (within the meaning of section 256(1)), which is an asset of the unit trust, shall not be a relevant deposit (within the meaning of that section) for the purposes of Chapter 4 of Part 8, for that year of assessment.

(2) Where a royalty or other sum to which section 237 or 238 applies is paid in respect of the user of a patent and that user extended over a period of 6 complete years or more, the person receiving the payment may require that the tax payable by that person by reason of the receipt of that sum shall be reduced so as not to exceed the total amount of tax which would have been payable by that person if that royalty or sum had been paid in 6 equal instalments at yearly intervals, the last of which was paid on the date on which the payment was in fact made.

(b) in respect of any yearly interest, annuity or other annual payment or any other payments mentioned in section 104 or 237(2), but not including sums which are, or but for any exemption would be, chargeable under Case V of Schedule D.

(b) the reference in section 316(1) to any expenditure or sum in the case of which a deduction of tax is to be or may be made under section 237 or 238 shall not include a sum in the case of which such a deduction is to be or may be so made by virtue of section 757.

(2) In respect of any scheme which is approved or is being considered for approval under this Chapter, the Revenue Commissioners may direct that until such date as they may specify pensions under the scheme shall be charged to tax as annual payments under Case III of Schedule D, and tax shall be deductible under section 237 or 238 accordingly.

(6) Notwithstanding Chapter 4 of Part 8, that Chapter shall apply to a deposit (within the meaning of that Chapter) where the deposit consists of money held by a qualifying fund manager in that capacity as if such a deposit were not a relevant deposit (within the meaning of that Chapter).

(b) the manner of giving effect to the decision on any such question, and the making of assessments for the purpose on the person entitled to the annuity (notwithstanding anything in section 237);

(b) For the purposes of this section, Chapter 4 of Part 8 shall be construed as if—

(3)Chapter 4 of Part 8 (other than section 259) shall, subject to this section and with any other necessary modifications, apply to special portfolio investment accounts as it applies to special savings accounts ; but that Chapter shall so apply as if, in relation to relevant interest payable in respect of a relevant deposit or relevant deposits held in a special savings account, the rate of appropriate tax were 10 per cent , and in particular the rate of appropriate tax specified in section 256(1) in relation to relevant interest payable in respect of a relevant deposit or relevant deposits held in a special savings account shall apply to special portfolio investment accounts .

(2) An authorised officer, having regard to Chapter 4 of Part 8, may at all reasonable times enter any premises or place of business of a relevant deposit taker for the purposes of auditing for a year of assessment—

(c) who is chargeable to tax for the tax year by reason only of section 237, 238 or 239,