Taxes Consolidation Act, 1997 (Number 39 of 1997)
This section has been deleted.
Deleted by FA12 sched1(20).
PART 14
Taxation of Companies Engaged in Manufacturing Trades, Certain Trading Operations Carried on in Shannon Airport and Certain Trading Operations Carried on in the Custom House Docks Area
Chapter 1
Interpretation and general
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442 Interpretation (Part 14).
[FA80 s38 and s40; FA90 s40 and s41(6); FA91 s35]
(1) In this Part—
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“expansion operations”, in relation to a company, includes—
(a) increases in production capacity for existing or directly related product lines of the company, and
(b) the addition of support functions directly related to the existing trading operations of the company;
“industrial development agency” means—
(a) the Industrial Development Authority in Ireland,
(b) the Shannon Free Airport Development Company,
(c) Údarás na Gaeltachta,
(d) the Industrial Development Agency, Ireland,
(e) Forbairt,
(f) Forfás, or
(g) Enterprise Ireland;”,
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“merchandise” means goods other than goods within the meaning of section 443;
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“relevant accounting period” means an accounting period or part of an accounting period of a company ending on or before—
(a) where subsection (11) or (12) of section 443 applies, the 31st day of December, 2000, or
(b) in any other case, the 31st day of December, 2010;
“relief under this Part” means the reduction of corporation tax provided for in section 448(2).
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“relevant accounting period”, in relation to a trade carried on by a company which consists of or includes the manufacture of goods, means an accounting period or part of an accounting period of a company ending on or before—
(a) where subsection (11) or (12) of section 443 applies, the 31st day of December, 2000,
(b) in the case of a trade, other than a specified trade, which is set up and commenced on or after the 23rd day of July, 1998, the 31st day of December, 2002, and
(c) in any other case, the 31st day of December, 2010;
“relief under this Part” means the reduction of corporation tax provided for in section 448(2);
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“specified trade”, in relation to a company—
(a) means a trade which consists of or includes trading operations specified in a grant agreement (in this definition referred to as “the relevant grant agreement”) entered into between the company and an industrial development agency on foot of an approval of grant assistance for the company made by the industrial development agency on or before the 31st day of July, 1998, but
(b) does not include such part of the trade as consists of expansion operations which commenced to be carried on on or after the 23rd day of July, 1998, other than such of those operations as would fall within the terms of the relevant grant agreement;
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(2) For the purposes of this Part, where a part only of an accounting period of a company is a relevant accounting period, all amounts referable to the accounting period shall be apportioned, on the basis of the proportion which the length of the relevant accounting period bears to the length of the accounting period of the company, for the purpose of ascertaining any amount required to be taken into account in respect of the relevant accounting period.
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(3) Where, by virtue of the application of the definition of “specified trade”, an accounting period or part of an accounting period—
(a) would be a relevant accounting period in relation to a part (in this subsection referred to as “the first-mentioned part”) of a trade carried on by a company, and
(b) would not be a relevant accounting period in relation to another part (in this subsection referred to as “the second-mentioned part”) of that trade,
then, for the purposes of this Part—
(i) the first-mentioned part and the second-mentioned part shall each be treated as a separate trade, and
(ii) there shall be apportioned to the first-mentioned part and the second-mentioned part such proportion of the total amount receivable from sales made and services rendered in the course of the trade, and of expenses incurred in the course of the trade, in the accounting period or part of the accounting period, as the case may be, as is just and reasonable.
(4) Where—
(a) on or after the 23rd day of July, 1998, a company (in this subsection referred to as “the successor company”) succeeds to a trade or part of a trade which was carried on by another company (in this subsection referred to as “the original company”), and
(b) the original company has or could have made a claim to relief under this Part in relation to the trade or part of the trade,
then, subject to sections 445 and 446, relief, in so far as such relief relates to the trade or part of the trade in question, shall be granted to the successor company as respects the remaining relevant accounting periods for which such relief might have been claimed by the original company if it had continued to carry on the trade or part of the trade in question.
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