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Finance Act, 2000 ————————

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Finance Act, 2000 ———————— ÐÐÐÐÐÐÐÐ Number 3 of 2000 ÐÐÐÐÐÐÐÐ FINANCE ACT, 2000 ÐÐÐÐÐÐÐÐ ARRANGEMENT OF SECTIONS PART 1 Income Tax, Corporation Tax and Capital Gains Tax Chapter 1 Interpretation Section 1. Interpretation (Part 1). Chapter 2 Income Tax 2. Amendment of section 188 (age exemption and associated marginal relief) of Principal Act. 3. Alteration of rates of income tax. 4. Amendment of section 461 (standard rated personal allowances) of Principal Act. 5. Additional standard rated allowance for certain widowed persons. 6. Widowed parents and other single parents: standard rated allowance. 7. Special relief for widowed parent following death of spouse. 8. Age allowance. 9. Incapacitated children. 10. Dependent relative. 11. Relief for blind persons. 12. Home carer's allowance. [No. 3.] Finance Act, 2000. [2000.] Section 13. Amendment of section 473 (allowance for rent paid by cer- tain tenants) of Principal Act. 14. Standard rating of allowances: consequential provisions. 15. Amendment of section 122 (preferential loan arrangements) of Principal Act. 16. Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act. 17. Amendment of section 244 (relief for interest paid on certain home loans) of Principal Act. 18. Amendment of section 202 (relief for agreed pay restructuring) of Principal Act. 19. Amendment of Part 16 (income tax relief for investment in corporate trades Ð business expansion scheme and seed capital scheme) of Principal Act. 20. Amendment of Schedule 13 (accountable persons for pur- poses of Chapter 1 of Part 18) to Principal Act. 21. Relief for postgraduate and certain third-level fees. 22. Amendment of section 767 (payment to universities and other approved bodies for research in, or teaching of, approved subjects) of Principal Act. 23. Amendment of Part 30 (occupational pension schemes, retirement annuities, purchased life annuities and cer- tain pensions) of Principal Act. 24. Amendment of section 515 (excess or unauthorised shares) of Principal Act. 25. Amendment of Schedule 11 (profit sharing schemes) to Prin- cipal Act. 26. Amendment of Schedule 12 (employee share ownership trusts) to Principal Act. 27. Rights to acquire shares or other assets. 28. Amendment of Chapter 4 (interest payments by certain deposit takers) of Part 8 of Principal Act. 29. Extension of section 1022 (special provisions relating to tax on wife's income) of Principal Act to spouse's income, etc. Chapter 3 Dividend Withholding Tax 30. Dividend withholding tax. 31. Amendment of section 153 (distributions to certain non- residents) of Principal Act. 32. Amendment of section 700 (special computational provisions) of Principal Act. 2 [2000.] Finance Act, 2000. [No. 3.] Section 33. Amendment of section 831 (implementation of Council Directive No. 90/435/EEC concerning the common sys- tem of taxation applicable in the case of parent com- panies and subsidiaries of different Member States) of Principal Act. Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax 34. Amendment of section 198 (certain interest not to be chargeable) of Principal Act. 35. Capital allowances for, and deduction in respect of, vehicles. 36. Amendment of section 268 (meaning of ``industrial building or structure'') of Principal Act. 37. Amendment of section 333 (double rent allowance in respect of rent paid for certain business premises) of Principal Act. 38. Amendment of section 20 (amendment of provisions relating to Custom House Docks Area) of Urban Renewal Act, 1998. 39. Amendment of section 324 (double rent allowance in respect of rent paid for certain business premises) of Principal Act. 40. Amendment of Part 9 (principal provisions relating to relief for capital expenditure) of Principal Act. 41. Capital allowances for computer software. 42. Amendment of Chapter 3 (designated areas, designated streets, enterprise areas and multi-storey car parks in certain urban areas) of Part 10 of Principal Act. 43. Amendment of section 360 (interpretation (Chapter 5)) of Part 10 of Principal Act. 44. Amendment of Chapter 7 (qualifying areas) of Part 10 of Principal Act. 45. Amendment of Chapter 8 (qualifying rural areas) of Part 10 of Principal Act. 46. Amendment of Chapter 9 (park and ride facilities and certain related developments) of Part 10 of Principal Act. 47. Amendment of section 823 (deduction for income earned outside the State) of Principal Act. 48. Amendment of section 481 (relief for investment in films) of Principal Act. 49. Amendment of section 482 (relief for expenditure on signifi- cant buildings and gardens) of Principal Act. 50. Amendment of section 485 (relief for gifts to third-level institutions) of Principal Act. 51. Savings-related share option schemes. 3 [No. 3.] Finance Act, 2000. [2000.] Section 52. Reduction in tax on certain transactions in land. 53. Amendment of Part 26 (life assurance companies) of Princi- pal Act. 54. Amendment of section 420 (losses, etc. which may be surren- dered by means of group relief) of Principal Act. 55. Amendment of section 595 (life assurance policy or deferred annuity contract entered into or acquired by a company) of Principal Act. 56. Amendment of section 710 (profits of life business) of Princi- pal Act. 57. Amendment of Chapter 1 (unit trusts) of Part 27 of Principal Act. 58. Investment undertakings. 59. Amendment of section 172A (interpretation) of Principal Act. 60. Amendment of section 659 (farming: allowance for capital expenditure on the construction of farm buildings, etc. for control of pollution) of Principal Act. 61. Amendment of Part 23 (farming and market gardening) of Principal Act. 62. Amendment of section 723 (special investment policies) of Principal Act. 63. Amendment of section 843A (capital allowances for buildings used for certain childcare purposes) of Principal Act. 64. Amendment of Part 29 (patents, scientific and certain other research, know-how and certain training) of Principal Act. 65. Amendment of section 243 (allowance of charges on income) of Principal Act. 66. Amendment of section 246 (interest payments by companies and to non-residents) of Principal Act. 67. Amendment of section 247 (relief to companies on loans applied in acquiring interest in other companies) of Principal Act. 68. Amendment of Chapter 4 (revenue powers) of Part 38 of Principal Act. 69. Amendments and repeals consequential on abolition of tax credits. 70. Restrictions on the use by certain partnerships of losses, etc., and transitional arrangements concerning these restrictions. 71. Amendment of Schedule 24 (relief from income tax and cor- poration tax by means of credit in respect of foreign tax) to Principal Act. 72. Amendment of Schedule 29 to Principal Act. 4 [2000.] Finance Act, 2000. [No. 3.] Section 73. Treatment of interest in certain circumstances. 74. Amendment of section 213 (trade unions) of Principal Act. Chapter 5 Corporation Tax 75. Amendment of section 21A (higher rate of corporation tax) of Principal Act. 76. Reduction of corporation tax liability in respect of certain trading income. 77. Amendment of section 23A (company residence) of Principal Act. 78. Amendment of section 882 (particulars to be supplied by new companies) of Principal Act. 79. Amendment of section 411 (surrender of relief between members of groups and consortia) of Principal Act. 80. Amendment of section 446 (certain trading operations car- ried on in Custom House Docks Area) of Principal Act. 81. Amendment of Chapter 1 (general provisions) of Part 26 of Principal Act. 82. Amendment of section 110 (securitisation of assets) of Princi- pal Act. 83. Amendment of Part 14 (taxation of companies engaged in manufacturing trades, certain trading operations car- ried on in Shannon Airport and certain trading oper- ations carried on in the Custom House Docks Area) of Principal Act. 84. Amendment of section 220 (profits of certain bodies corporate) of Principal Act. Chapter 6 Capital Gains Tax 85. Amendment of section 598 (disposals of business or farm on ``retirement'') of Principal Act. 86. Amendment of section 649A (relevant disposals: rate of charge) of Principal Act. 87. Amendment of section 980 (deduction from consideration on disposal of certain assets) of Principal Act. 88. Amendment of section 1030 (separated spouses: transfers of assets) of Principal Act. 5 [No. 3.] Finance Act, 2000. [2000.] Chapter 7 Income Tax and Corporation Tax: Reliefs for Renewal and Improve- ment of Certain Towns Section 89. Amendment of Part 10 (income tax and corporation tax: reliefs for renewal and improvement of certain urban areas, certain resort areas and certain islands) of Prin- cipal Act. PART 2 Customs and Excise Miscellaneous 90. Tobacco products. 91. Hydrocarbons. 92. Rates of mineral oil tax. 93. Amendment of section 94 (interpretation, Chapter 1) of Fin- ance Act, 1999. 94. Amendment of paragraph 12 of Imposition of Duties (No. 221) (Excise Duties) Order, 1975 (S.I. No. 307 of 1975). 95. Amendment of section 99 (passenger road services) of Fin- ance Act, 1999. 96. Hydrocarbon oil used in trains. 97. Amendment of section 103 (presumptions in certain proceedings) of Finance Act, 1999. 98. Amendment of section 104 (appeals to Revenue Commissioners) of Finance Act, 1995. 99. Delegation of certain powers of the Revenue Commissioners. 100. Amendment of section 131 (registration of vehicles by Rev- enue Commissioners) of Finance Act, 1992. 101. Amendment of section 133 (chargeable value) of Finance Act, 1992. 102. Excise duty on foreign travel. 103. Excise duty on public dancing licence, occasional licence, special exemption order and authorisation to a club. 104. Excise duty on registration of clubs. 105. Imposition of duty on liquor licences for National Cultural Institutions. 106. Tax clearance in relation to excise licences. 6 [2000.] Finance Act, 2000. [No. 3.] PART 3 Value-Added Tax Section 107. Interpretation (Part 3). 108. Amendment of section 1 (interpretation) of Principal Act. 109. Amendment of section 6A (special scheme for investment gold) of Principal Act. 110. Amendment of section 8 (taxable persons) of Principal Act. 111. Amendment of section 11 (rates of tax) of Principal Act.
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