FINANCE ACT, 1948 (1948_act_12) | IE

ISB Act 1948-07-07

Schedule 1 FINANCE ACT, 1948 Open official source

FIRST SCHEDULE.

Section 2

AGREEMENT between the Irish Government and the United Kingdom Government amending the Agreement of 1926 (as amended by the Agreement of 1928) in respect of Double Income Tax.

With a view to making such alterations in the Agreement dated the 14th April, 1926 (as amended by the Agreement dated the 25th April, 1928), made between the Government of the Irish Free State and the British Government in respect of Double Income Tax as may be necessary in consequence of the alterations in the British Income Tax Acts effected by section 52 of the British Finance (No. 2) Act, 1945, it is hereby agreed between the Irish Government and the United Kingdom Government that the said Agreement (as amended as aforesaid) shall be further amended as follows:—

1. In Article 1 (a) of the said Agreement, the words “British income tax” shall, as regards any dividend in respect of which relief or repayment in respect of the tax deducted or authorised to be deducted therefrom is restricted by section 52 (2) (a) of the British Finance (No. 2) Act, 1945, to “the net United Kingdom rate” therein referred to, be construed as meaning British income tax at the said net United Kingdom rate applicable to such dividend for the purposes of the said Section.

2. The rate of relief to be allowed from British income tax under Article 2 (1) (a) of the said Agreement shall, as regards any dividend such as is mentioned in Article 1 of this Agreement, not exceed, in the case of a person whose income is chargeable to British income tax at the standard rate only, the net United Kingdom rate applicable to such dividend for the purposes of the said Section 52 (2) (a) and, in the case of a person part of whose total income for any year is chargeable to British income tax at a rate or rates in excess of the standard rate, the sum of the following rates:—

(i) the said net United Kingdom rate, and

(ii) the rate ascertained by dividing the amount of the British sur-tax payable by that person for that year by the amount of his total income for that year.

3. This Agreement shall have effect for the year 1948-49 and subsequent years.

4. This Agreement shall be subject to confirmation by legislation both by the United Kingdom Parliament and by the Oireachtas, and shall have effect only if and so long as that legislation is in force.

Done in duplicate the 21st day of July, 1947.

(Signed),

For the Irish Government,

For the United Kingdom Government,

PROINSIAS MAC AOGÁIN, Minister for Finance.

PROINSIAS MAC AOGÁIN,

Minister for Finance.

HUGH DALTON, Chancellor of the Exchequer.

HUGH DALTON,

Chancellor of the Exchequer.

ISB Act 1948-07-07

Schedule 2 FINANCE ACT, 1948 Open official source

SECOND SCHEDULE. Duties on Tobacco.

Duties on Tobacco.

Part I. Customs.

Part I.

Customs.

£

s.

d.

Unmanufactured:—

If Stripped or Stemmed:—

Containing 10 lbs. or more of moisture in every 100 lbs. weight thereof

the lb.

1

3

10

Containing less than 10 lbs. of moisture in every 100 lbs. weight thereof

the lb.

1

6

If Unstripped or Unstemmed:—

Containing 10 lbs. or more of moisture in every 100 lbs. weight thereof

the lb.

1

3

10

Containing less than 10 lbs. of moisture in every 100 lbs. weight thereof

the lb.

1

6

Full

Preferential

£

s.

d.

£

s.

d.

Manufactured:—

Cigars

the lb.

1

18

0

1

11

8

Cigarettes

”

1

16

7

1

10

5

Cavendish or Negrohead

”

1

14

11

1

9

1

Cavendish or Negrohead Manufactured in Bond

”

1

10

3

1

5

2

Other Manufactured Tobacco

”

1

10

3

1

5

2

Snuff containing more than 13 lbs. of moisture in every 100 lbs. weight thereof

”

1

8

9

1

3

1

Snuff not containing more than 13 lbs. of moisture in every 100 lbs. weight thereof

”

1

14

11

1

9

1

Part II. Excise.

Part II.

Excise.

£

s.

d.

Unmanufactured:—

Containing 10 lbs. or more of moisture in every 100 lbs. weight thereof

the lb.

1

2

9

Containing less than 10 lbs. of moisture in every 100 lbs. weight thereof

”

1

5

3

Manufactured:—

Cavendish or Negrohead Manufactured in Bond

”

1

9

6

ISB Act 1948-07-07

Schedule 3 FINANCE ACT, 1948 Open official source

THIRD SCHEDULE. Enactments Repealed.

Enactments Repealed.

Number and Year

Short Title

Extent of Repeal

Date of Repeal

(1)

(2)

(3)

(4)

No. 31 of 1931

Finance Act, 1931

Section 22

The 1st day of June, 1948.

No. 20 of 1932

Finance Act, 1932

Subsections (5) and (6) of section 25.

The 1st day of June, 1948.

No. 28 of 1935

Finance Act, 1935

Section 24

The 1st day of June, 1948.

No. 31 of 1936

Finance Act, 1936

Section 11

The 1st day of June, 1948.

No. 15 of 1946

Finance Act, 1946

Section 28

The 1st day of July, 1948.

No. 15 of 1947

Finance Act, 1947

Section 10

The 1st day of June, 1948.

No. 33 of 1947

Finance (No. 2) Act, 1947.

Section 8

The 1st day of June, 1948.

ISB Act 1948-07-07

Schedule 4 FINANCE ACT, 1948 Open official source

FOURTH SCHEDULE. Orders Ceasing to Have Effect.

Orders Ceasing to Have Effect.

Section 17

Number and Year

Short Title

Date of Cessation

S.I. No. 52 of 1948

Emergency Imposition of Duties (No. 229) Order, 1948.

The date of the passing of this Act.

S.I. No. 68 of 1948

Emergency Imposition of Duties (No. 230) Order, 1948.

The date of the passing of this Act.

S.I. No. 69 of 1948

Emergency Imposition of Duties (No. 231) Order, 1948.

The date of the passing of this Act.

S.I. No. 70 of 1948

Emergency Imposition of Duties (No. 232) Order, 1948.

The 1st day of June, 1948.

FINANCE ACT, 1948

Statutory Text (4 Articles)

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