electronic Irish Statute Book (eISB) (2024)

Number 6 of 2011

FINANCE ACT 2011

ARRANGEMENT OF SECTIONS

PART 1

Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax

Chapter 1

Interpretation

Section

1. Interpretation (Part 1).

Chapter 2

Income Levy and Universal Social Charge

2. Cessation of charge to income levy.

3. Universal social charge.

Chapter 3

Income Tax

4. Amendment of section 15 (rate of charge) of Principal Act.

5. Age exemption.

6. Personal tax credits.

7. Benefit-in-kind taxation.

8. Taxation of lump sums.

9. Amendment of section 470B (age-related relief for health insurance premiums) of Principal Act.

10. Employee share schemes.

11. Termination of relief to individuals on loans applied in acquiring interest in companies.

12. Abolition of relief for trade union subscriptions.

13. Relief for energy efficient works.

14. Amendment of section 473 (allowance for rent paid by certain tenants) of Principal Act.

15. Amendment of section 473A (relief for fees paid for third level education, etc.) of Principal Act.

16. Tax treatment of flight crew in international traffic.

17. Exemption of certain earnings of writers, composers and artists.

18. Amendment of Schedule 13 (accountable persons for purposes of Chapter 1 of Part 18) to Principal Act.

19. Retirement benefits.

Chapter 4

Income Tax, Corporation Tax and Capital Gains Tax.

20. Relevant contracts tax.

21. Measures relating to false claims.

22. Cesser of financial resolutions.

23. Amendment of Part 12 (principal provisions relating to loss relief, treatment of certain losses and capital allowances, and group relief) of Principal Act.

24. Amendment of section 372AP (relief for lessors) of Principal Act.

25. Amendment of Chapter 2 (farming: relief for increase in stock values) of Part 23 of Principal Act.

26. Abolition of exemption for certain income derived from patent royalties and related distributions.

27. Discontinuance of certain mining allowances.

28. Amendment of section 817 (schemes to avoid liability to tax under Schedule F) of Principal Act.

29. Certain settlements made by close companies.

30. Amendment of Part 8 (annual payments, charges and interest) of Principal Act.

31. Life assurance policies and investment funds.

32. Amendment of section 481 (relief for investment in films) of Principal Act.

33. Income tax relief for investment in corporate trades — employment and investment incentive and seed capital scheme.

Chapter 5

Corporation Tax

34. Amendment of section 486C (relief from tax for certain start-up companies) of Principal Act.

35. Credit for foreign tax.

36. Interest on loans to defray money applied for certain purposes.

37. Charges on income for corporation tax purposes.

38. Amendment of section 285A (acceleration of wear and tear allowances for certain energy-efficient equipment) of Principal Act.

39. Amendment of section 221 (certain payments to National Co-operative Farm Relief Services Ltd and certain payments made to its members) of Principal Act.

40. Amendment of section 110 (securitisation) of Principal Act.

41. Amendment of section 766 (tax credit for research and development expenditure) of Principal Act.

PART 2

Customs and Excise

42. Rates of mineral oil tax.

43. Amendment of Chapter 1 of Part 2 (mineral oil tax) of Finance Act 1999.

44. Amendment of Chapter 3 (solid fuel carbon tax) of Part 3 of Finance Act 2010.

45. Amendment of Chapter 1 of Part 2 (consolidation and modernisation of general excise law) of Finance Act 2001.

46. Amendment of Chapter 3 (offences, penalties and proceedings) of Part 2 of Finance Act 2001.

47. Amendment of Chapter 4 (powers of officers) of Part 2 of Finance Act 2001.

48. Amendment of section 55 (air travel tax) of Finance (No. 2) Act 2008.

49. Amendment of Chapter 1 (betting duty) of Part 2 of Finance Act 2002, etc.

50. Amendment of section 130 (interpretation) of Finance Act 1992.

51. Amendment of section 132 (charge of excise duty) of Finance Act 1992.

52. Repayment of amounts of vehicle registration tax in respect of the registration of certain new vehicles.

53. Remission or repayment in respect of vehicle registration tax on certain hybrid electric vehicles, certain flexible fuel vehicles, certain plug-in hybrid electric vehicles, certain electric vehicles and certain electric motorcycles.

54. Administrative penalties for contravention of Community Customs Code.

PART 3

Value-Added Tax

55. Interpretation (Part 3).

56. Amendment of section 17 (other provisions in relation to services) of Principal Act.

57. Amendment of section 95 (transitional measures for supplies of immovable goods) of Principal Act.

58. Amendment of section 115 (penalties generally) of Principal Act.

59. Supplies of scrap metal — reverse charge.

60. Amendment of Schedule 1 to Principal Act.

61. Post-consolidation amendments.

PART 4

Stamp Duties

62. Interpretation (Part 4).

63. Withdrawal of reliefs.

64. Housing authorities and affordable homes partnership.

65. Levy on authorised insurers.

66. Amendment of Schedule 1 to Principal Act.

PART 5

Capital Acquisitions Tax

67. Interpretation (Part 5).

68. Amendment of provisions relating to agricultural and business property and provision relating to allowance of capital gains tax on the same event.

69. Amendment of certain provisions of Principal Act.

70. Amendment of provision relating to payment of tax and filing return and consequential amendments.

PART 6

Miscellaneous

71. Interpretation (Part 6).

72. Amendment of section 817M (duty of promoter to provide client list) of Principal Act.

73. Amendment of section 149 (amendment of Part 33 (anti-avoidance) of Principal Act) of Finance Act 2010.

74. Attachment of debt.

75. Revenue offences.

76. Amendment of section 1086 (publication of names of tax defaulters) of Principal Act.

77. Confidentiality of taxpayer information.

78. Amendment of section 960E (collection of tax, issue of demands, etc.) of Principal Act.

79. Payment of tax by relevant payment methods.

80. Amendment of Schedule 24A (arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax) to Principal Act.

81. Miscellaneous technical amendments in relation to tax.

82. Capital Services Redemption Account.

83. Care and management of taxes and duties.

84. Short title, construction and commencement.

SCHEDULE 1

Amendments Consequential on Changes in Personal Tax Credits

SCHEDULE 2

Post-consolidation Amendments (Part 3)

SCHEDULE 3

Miscellaneous Technical Amendments in Relation to Tax

Acts Referred to

Betting Act 1931	1931, No. 27
Capital Acquisitions Tax Consolidation Act 2003	2003, No. 1
Companies Act 1963	1963, No. 33
Companies (Amendment) Act 1983	1983, No. 13
Credit Institutions (Financial Support) Act 2008	2008, No. 18
Criminal Procedure Act 1967	1967, No. 12
Electricity Regulation Act 1999	1999, No. 23
Finance Act 1950	1950, No. 18
Finance Act 1983	1983, No. 15
Finance Act 1987	1987, No. 10
Finance Act 1992	1992, No. 9
Finance Act 1999	1999, No. 2
Finance Act 2001	2001, No. 7
Finance Act 2002	2002, No. 5
Finance Act 2003	2003, No. 3
Finance Act 2005	2005, No. 5
Finance Act 2008	2008, No. 3
Finance (No. 2) Act 2008	2008, No. 25
Finance Act 2009	2009, No. 12
Finance Act 2010	2010, No. 5
Freedom of Information Act 1997	1997, No. 13
Health Act 1970	1970, No. 1
Health Insurance (Miscellaneous Provisions) Act 2009	2009, No. 24
Housing Act 1966	1966, No. 21
Housing Acts 1966 to 2009
Inland Fisheries Act 2010	2010, No. 10
Inland Revenue Regulation Act 1890	53 & 54 Vict., c.21
National Asset Management Agency Act 2009	2009, No. 34
National Pensions Reserve Fund Act 2000	2000, No. 33
Official Secrets Act 1963	1963, No. 1
Planning and Development Acts 2000 to 2010
Public Service Superannuation (Miscellaneous Provisions) Act 2004	2004, No. 7
Social Welfare Consolidation Act 2005	2005, No. 26
Stamp Duties Consolidation Act 1999	1999, No. 31
Taxes Consolidation Act 1997	1997, No. 39
Tourist Traffic Acts 1939 to 2003
Tribunal of Inquiry (Evidence) Acts 1921 to 2002
Value-Added Tax Act 1972	1972, No. 22
Value-Added Tax Consolidation Act 2010	2010, No. 31

Number 6 of 2011

FINANCE ACT 2011

AN ACT TO PROVIDE FOR THE IMPOSITION, REPEAL, REMISSION, ALTERATION AND REGULATION OF TAXATION, OF STAMP DUTIES AND OF DUTIES RELATING TO EXCISE AND OTHERWISE TO MAKE FURTHER PROVISION IN CONNECTION WITH FINANCE INCLUDING THE REGULATION OF CUSTOMS.

[6th February, 2011]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

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