Taxes Consolidation Act, 1997 (Number 39 of 1997)
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917B Return by settlor in relation to non-resident trustees.
(1) In this section and in section 917C “arrangements” means arrangements having the force of law by virtue of [3]>section 826<[3]
[4]>[3]>section 826(1)(a)<[3]<[4]
[4]>section 826(1)<[4] (as extended to capital gains tax by section 828);
(2) This section applies where a settlement is created on or after the 11th day of February, 1999, and at the time it is created—
(a) the trustees are neither resident nor ordinarily resident in the State, or
(b) the trustees are resident and ordinarily resident in the State but fall to be regarded for the purposes of any arrangements as resident in a territory outside the State.
(3) Where this section applies, any person who—
(a) is a settlor in relation to the settlement at the time it is created, and
(b) at that time fulfils the condition mentioned in subsection (4),
shall, before the expiry of the period of 3 months beginning with the day on which the settlement is created, deliver to the appropriate inspector a statement specifying—
(i) the day on which the settlement was created;
(ii) the name and address of the person making the statement; and
(iii) the names and addresses of the persons who are the trustees immediately before the delivery of the statement.
(4) The condition is that the person concerned is domiciled in the State and is either resident or ordinarily resident in the State.
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(5) Where a person fails—
(a) to make a statement required to be made by the person in accordance with subsection (2), or
(b) to include in such a statement the details referred to in subsection (2), the person shall in respect of each such failure be liable to a penalty of [2]>£2,000<[2][2]>€2,535<[2].
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(5) Where a person fails—
(a) to make a statement required to be made by the person in accordance with [7]>subsection (2)<[7][7]>subsection (3)<[7], or
(b) to include in such a statement the details referred to in [7]>subsection (2)<[7][7]>subsection (3)<[7],
then the person shall in respect of each such failure be liable to a penalty of €4,000.
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(6) Penalties under subsection (5) may, without prejudice to any other method of recovery, be proceeded for and recovered summarily in like manner as in summary proceedings for the recovery of any fine or penalty under any act relating to the excise.
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[1]
Inserted by FA99 s92(1)(b). This section shall apply as on and from the 11th day of February, 1999.
[3]
Substituted by FA04 sched3(1)(ab). This section shall have effect as on and from the passing of this Act. FA04 25 March 2004
[5]
Substituted by F(No.2)A08 sched5(part2)(1)(v)(i). The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after 24 December 2008.
[6]
Deleted by F(No.2)A08 sched5(part2)(1)(v)(ii). The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after 24 December 2008.