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(a) in section 806—

Section 806

(b) where it is shown in writing or otherwise to the satisfaction of the Revenue Commissioners that, at the time when the charge to capital gains tax arises, genuine economic activities are carried on by the settlement in a relevant Member State (within the meaning of section 806(11)(a)).

(9A) This section shall not apply where it is shown in writing or otherwise to the satisfaction of the Revenue Commissioners that, at the time when the charge to capital gains tax arises, genuine economic activities are carried on by the settlement in a relevant Member State (within the meaning of section 806(11)(a)).

(aa) a chargeable gain accruing on the disposal of an asset where it is shown in writing or otherwise to the satisfaction of the Revenue Commissioners that, at the time of the disposal, genuine economic activities are carried on by the company in a relevant Member State (within the meaning of section 806(11)(a)),

(a) sections 806 and 807 sections 806, 807 and 807A sections 806, 807, 807A, 807B and 807C shall apply as if the offshore income gain arising to the person resident or domiciled out of the State constituted income becoming payable to such person, and

(b) accordingly any reference in sections 806 and 807 sections 806, 807 and 807A sections 806, 807, 807A, 807B and 807C to income of, or payable or arising to, such person shall include a reference to the offshore income gain arising to such person by reason of the disposal to which this Chapter applies.

(6) To the extent that an offshore income gain is treated by virtue of subsection (1) or (3) as having accrued to any person resident or ordinarily resident in the State, that gain shall not be deemed to be the income of any individual for the purposes of sections 806 and 807 sections 806, 807 and 807A sections 806, 807, 807A, 807B and 807C or Part 31.

807Deductions and reliefs in relation to income chargeable to income tax under section 806.

(1) Income tax chargeable by virtue of section 806 shall be charged under Case IV of Schedule D.

(2) In computing the liability to income tax of an individual chargeable by virtue of section 806, the same deductions and reliefs shall be allowed as would have been allowed if the income deemed to be income of the individual by virtue of that section had actually been received by the individual.

(3) Where an individual has been charged to income tax on any income deemed to be income of the individual by virtue of section 806 and that income is subsequently received by the individual, it shall be deemed not to form part of the individual’s income again for the purposes of the Income Tax Acts.

(4) In any case where an individual has for the purposes of section 806 power to enjoy income of a person abroad by reason of receiving any such benefit referred to in subsection (6)(c) of that section, the individual shall be chargeable to income tax by virtue of that section under Case IV of Schedule D for the year of assessment in which the benefit is received on the whole of the amount or value of that benefit, except in so far as it is shown that the benefit derives directly or indirectly from income on which the individual has already been charged to income tax for that or a previous year of assessment.

(b) an individual who is resident or ordinarily resident in the State and who is not liable to tax under section 806 by reference to the transfer, receives a benefit provided out of assets which are available for the purpose by virtue or in consequence of the transfer or of any associated operations.

(7) Subsections (8) and (9) Subsections (8), (9) and (10) , (10) and (11) of section 806 shall apply for the purposes of this section as they apply for the purposes of subsections (4) and (5) of that section.

“relevant transactions” has the meaning assigned to it by section 806(10).

(2) For the purposes of applying subsection (3) of this section and subsections (8) and (10) of section 806—

(a) if all the relevant transactions are old transactions, section 806(8) shall apply,

(b) if all the relevant transactions are new transactions, section 806(10) shall apply,

(c) if any one or more of the relevant transactions are old transactions and any one or more of the relevant transactions are new transactions, sections 806 and 807A shall apply subject to subsection (3).

(i) the conditions in section 806(8) are failed by reference to the old transactions or any of them, or

(ii) the conditions in section 806(10)(b) are failed by reference to the new transactions or any of them,

then, subject to paragraph (b), sections 806 and 807A apply as they would have applied apart from any exemption by virtue of this section or by virtue of section 806(8) or section 806(10).

then, subject to paragraph (b), sections 806 and 807A apply as they would have applied apart from any exemption by virtue of this section or by virtue of section 806(8) or section 806(10).

then, subject to paragraph (b), sections 806 and 807A apply as they would have applied apart from any exemption by virtue of this section or by virtue of section 806(8) or section 806(10).

(i) for the purposes of subsection (4) or (5)(b) of section 806 any income arising before the relevant date shall not be brought into account as income of the person resident or domiciled out of the State,

807C Supplementary provisions in relation to section 806 — apportionment in certain cases.

“appropriate exemption” means an exemption by virtue of subsection (8)(b) or (10)(b)(ii) of section 806;

(a) the individual was liable to tax by virtue of section 806, or

(b) the individual would have been liable to tax by virtue of section 806 if there had been any deemed income of such individual under that section;

“relevant transactions” has the meaning assigned to it by section 806(10).

(2) This section applies where an individual is liable to income tax by virtue of section 806 for a year of assessment and—

(a) the individual is so liable by virtue of the conditions in section 806(10)(b)(ii) not being met,

(i) was not liable to tax by virtue of section 806 because an appropriate exemption applied, or

(ii) would not have been liable to tax by virtue of section 806 if there had been any deemed income of such individual under that section because an appropriate exemption would have applied,

(2) The Revenue Commissioners or such officer as the Revenue Commissioners may appoint may by notice in writing require any person to furnish them within such time as they may direct (not being less than 28 days) with such particulars as they think necessary for the purposes of sections 806, 807 and 809 807, 807A and 809 sections 806, 807, 807A, 807B, 807C and 809.

(b) transactions which in the opinion of the Revenue Commissioners, or of such officer as the Revenue Commissioners may appoint, it is proper that they should investigate for the purposes of sections 806, 807 and 809 807, 807A and 809 sections 806, 807, 807A, 807B, 807C and 809, notwithstanding that in the opinion of the person to whom the notice is given no liability to tax arises under those sections;

Where any income of any person is by virtue of the Income Tax Acts, and in particular, but without prejudice to the generality of the foregoing, by virtue of section 806 sections 806 and 807A, to be deemed to be income of any other person, that income shall not be exempt from tax either—

The provisions of the Income Tax Acts relating to the charge, assessment, collection and recovery of tax, to appeals against assessments and to cases to be stated for the opinion of the High Court shall apply to income tax chargeable by virtue of section 806 sections 806 and 807A subject to any necessary modifications.