PART 4

Specified information in relation to disclosable transactions

16 Specified information — general

(1) The information requirements set out in paragraph (2) are specified information for the purposes of Chapter 3 of Part 33 of the Principal Act.

(2) (a) The information which shall be provided to the Revenue Commissioners by a person under all or any of sections 817E to 817G and section 817H(1) of the Principal Act in respect of a disclosable transaction is the information set out in-

(i) subparagraph (b), and

(ii) clauses (i) to (iii), as the case may be, of subparagraph (c).

(b) The information referred to in subparagraph (a)(i) is such information as might reasonably be expected to enable the manner in which the disclosable transaction operates, or is intended to operate, to be fully understood by a Revenue officer, and shall include-

(i) full reference to the provisions of Chapter 3 of Part 33 of the Principal Act and of these Regulations by virtue of which the person by whom, or on whose behalf, the information is being provided considers that the transaction is disclosable,

(ii) a summary of the disclosable transaction and the name (if any) by which it is known,

(iii) full reference to the provisions of the Acts that are considered by the person to be relevant to the treatment of the disclosable transaction for tax purposes, and

(iv) full details of the disclosable transaction explaining each element of the transaction (including the way in which the transaction is structured) from which the tax advantage expected to be obtained under the transaction arises and how, in the opinion of the person by whom, or on whose behalf, the information is being provided, each provision of the Acts referred to in clause (iii) applies, or as the case may be, does not apply to the transaction.

(c) The information referred to in subparagraph (a)(ii) is—

(i) where the information is required to be disclosed by a promoter under section 817E of the Principal Act, the name, address, telephone number and tax reference number of the promoter,

(ii) where the information is required to be disclosed by a person under section 817F or 817H(1) of the Principal Act—

(I) the name, address, telephone number and tax reference number of the person, and

(II) the name, address and telephone number of the promoter,

or

(iii) where the information is required to be disclosed by a person under section 817G of the Principal Act, the name, address, telephone number and tax reference number of the person.