Finance Act 2007 (2007_act_11) | IE

ISB Act 2007-04-02

Schedule 1 Finance Act 2007 Open official source

SCHEDULE 1 Amendments Consequential on Changes in Personal Tax Credits

SCHEDULE 1

Amendments Consequential on Changes in Personal Tax Credits

Section 3.

As respects the year of assessment 2007 and subsequent years of assessment, the Taxes Consolidation Act 1997 is amended as follows

(a) in section 461, by substituting “€3,520” for “€3,260”, in both places where it occurs, and “€1,760” for “€1,630”;

(b) in section 461A, by substituting “€550” for “€500”;

(c) in section 462, by substituting “€1,760” for “€1,630” in subsection (2);

(d) in section 463, by substituting “€3,750”, “€3,250”, “€2,750”, “€2,250” and “€1,750” respectively for “€3,100”, “€2,600”, “€2,100”, “€1,600” and “€1,100” in subsection (2);

(e) in section 464, by substituting “€550” and “€275”, respectively for “€500” and “€250”;

(f) in section 465, by substituting “€3,000” for “€1,500” in subsection (1);

(g) in section 468, by substituting “€1,760” and “€3,520”, respectively for “€1,500” and “€3,000” in subsection (2); and

(h) in section 472, by substituting “€1,760” for “€1,490”, in both places where it occurs, in subsection (4).

ISB Act 2007-04-02

Schedule 2 Finance Act 2007 Open official source

SCHEDULE 2 Miscellaneous Technical Amendments in Relation to Arrangements for Relief from Double Taxation

SCHEDULE 2

Miscellaneous Technical Amendments in Relation to Arrangements for Relief from Double Taxation

Section 35.

1. The Taxes Consolidation Act 1997 is amended in accordance with the following provisions

(a) in section 23A(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(b) in section 29A(4) by substituting “section 826(1)” for “section 826(1)(a)”;

(c) in section 44(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant territory”;

(d) in section 130(3)(d) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant Member State”;

(e) in section 153(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant territory”;

(f) in section 172A(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant territory”;

(g) in section 198(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(h) in section 222(1)(b) by substituting “section 826(1)” for “section 826(1)(a)” in both places where it occurs;

(i) in section 246(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant territory”;

(j) in section 267G(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(k) in section 410(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant Member State”;

(l) in section 411(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant Member State”;

(m) in section 430—

(i) in subsection (1)(da) by substituting “section 826(1)” for “section 826(1)(a)”, and

(ii) in subsection (2A) by substituting “section 826(1)” for “section 826(1)(a)”;

(n) in section 452(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(o) in section 481(2C)(b) by substituting “section 826(1)” for “section 826(1)(a)”;

(p) in section 530(4) by substituting “section 826(1)” for “section 826(1)(a)”;

(q) in section 579B(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(r) in section 613(6) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(s) in section 616(7) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant Member State”;

(t) in section 626B(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant territory”;

(u) in section 627(2)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant territory”;

(v) in section 630 by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “bilateral agreement”;

(w) in section 690(2) by substituting “section 826(1)” for “section 826(1)(a)” in both places where it occurs;

(x) in section 730H(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “offshore state”;

(y) in section 747B(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “offshore state”;

(z) in section 787M(1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “resident”;

(aa) in section 817C(3) by substituting “section 826(1),” for “section 826(1)(a),”;

(ab) in section 825A—

(i) in subsection (1) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “qualifying employment”, and

(ii) in subsection (3)(b) by substituting “section 826(1)” for “section 826(1)(a)”;

(ac) in section 829(2) by substituting “section 826(1)” for “section 826(1)(a)”;

(ad) in section 830(2) by substituting “section 826(1)” for “section 826(1)(a)”;

(ae) in section 831(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”;

(af) in section 865(1)(a) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “correlative adjustment”;

(ag) in section 917B by substituting “section 826(1)” for “section 826(1)(a)” in subsection (1);

(ah) in Schedule 24—

(i) in paragraph 1(1)—

(I) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “arrangements”, and

(II) by substituting “section 826(1)” for “section 826(1)(a)” in the definition of “relevant Member State”,

and

(ii) in paragraph 5(2) by substituting “section 826(1)” for “section 826(1)(a)”.

2. Paragraph 1 has effect as on and from the passing of this Act.

ISB Act 2007-04-02

Schedule 3 Finance Act 2007 Open official source

SCHEDULE 3 Miscellaneous Amendments Relating to Council Directive 2006/112/EC

SCHEDULE 3

Miscellaneous Amendments Relating to Council Directive 2006/112/EC

Section 97.

Amendment of Value-Added Tax Act 1972

Provision of Principal Act

Words to be replaced

Words to be inserted

Section 1(1) in the definition of “Community”

Article 3 of the Council Directive No. 77/388/EEC of 17 May 1977 (as last amended by Council Directive No. 92/111/EEC of 14 December 1992)

Articles 5 to 8 of Council Directive No. 2006/112/EC of 28 November 2006 6 6 OJ No. L 347 of 11 December 2006, p.1

6 OJ No. L 347 of 11 December 2006, p.1

Section 1(1) in the definition of “importation of goods”

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 1(1) in the definition of “a person registered for value-added tax”

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 1(2A)

Article 3 (inserted by Council Directive No. 91/680/EEC of 16 December 1991) of Council Directive No.77/388/EEC of 17 May 1977

Articles 5 to 8 of the Council Directive No. 2006/112/EC of 28 November 2006

Section 3(6)(d)(B)

Article 28b.B(2) (inserted by Council Directive No. 91/680/EEC of 16 December 1991) of Council Directive No.77/388/EEC of 17 May 1977

Article 34 of Council Directive No. 2006/112/EC of 28 November 2006

Section 3A(1A)

Council Directive No. 77/388/EEC of 17 May 1977 in the Member State of dispatch under the provisions implementing Article 26a or 28o (inserted by Council Directive No. 94/5/EC of 14 February 1994) of that Directive in that Member State

Council Directive No. 2006/112/EC of 28 November 2006 in the Member State of dispatch under the provisions implementing Articles 4 and 35, first subparagraph of Article 139(3) and Articles 311 to 341 of that Directive in that Member State

Section 3A(2)(b)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 3A(4)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 5(3A)

Community Council Directive No. 77/388/EEC

Council Directive No. 2006/112/EC of 28 November 2006

Section 5(6)(e)(iiia)

Council Directive No. 77/388/EEC of 17 May 1977 is not payable in that Member State because the recipient held himself out or allowed himself to be held out as a taxable person within the meaning of Article 4 of that Directive

Council Directive No. 2006/112/EC of 28 November 2006 is not payable in that Member State because the recipient held himself out or allowed himself to be held out as a taxable person within the meaning of Article 9(1) and Articles 10 to 13 of that Directive

Section 5(6)(e)(iv)(II)

Community Council Directive No. 77/388/EEC

Council Directive No. 2006/112/EC of 28 November 2006

Section 5A(1) in the definition of “electronic services scheme”

Article 26c of Council Directive No. 77/388/EEC of 17 May 1977

Articles 358 to 369 of Council Directive No. 2006/112/EC of 28 November 2006

Section 5A(1) in the definition of “EU value-added tax”

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 5A(1) in the definition of “Member State of consumption”

Article 9(2)(f) of Council Directive No. 77/388/EEC of 17 May 1977

Article 57(1) of Council Directive No. 2006/112/EC of 28 November 2006

Section 5A(6)(b)

Article 9(2)(f) of Council Directive No. 77/388/EEC of 17 May 1977

Article 57(1) of Council Directive No. 2006/112/EC of 28 November 2006

Section 8(9) in the definition of “Annex A activity”

Annex A (which is set out in Part I of the Fifth Schedule) of Council Directive No. 77/388/EEC of 17 May 1977

Article 295(1) and Annex VII of Council Directive No. 2006/112/EC of 28 November 2006

Section 8(9) in the definition of “Annex B service”

Annex B (which is set out in Part II of the Fifth Schedule) of the said Council Directive

Article 295(1) and Annex VIII of the said Council Directive

Section 10(5A)(b)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 10(7A)(b)

Article 11A.1.(a) of Council Directive No. 77/388/EEC of 17 May 1977

Article 73 of Council Directive No. 2006/112/EC of 28 November 2006

Section 10A(1)(b)

Article 17 of Council Directive No. 77/388/EEC of 17 May 1977

Articles 167, 173, 176 and 177 of Council Directive No. 2006/112/EC of 28 November 2006

Section 10A(1)(c)

Article 26a (inserted by Council Directive No. 94/5/EC of 14 February 1994) of Council Directive No. 77/388/EEC of 17 May 1977

Articles 4 and 35, first subparagraph of Article 139(3) and Articles 311 to 325 and 333 to 340 of Council Directive No. 2006/112/EC of 28 November 2006

Section 10B(1)(b)

Article 17 of Council Directive No. 77/388/EEC of 17 May 1977

Articles 167, 173, 176 and 177 of Council Directive No. 2006/112/EC of 28 November 2006

Section 10B(1)(c)

Article 26a (inserted by Council Directive No. 94/5/EC of 14 February 1994) of Council Directive No. 77/388/EEC of 17 May 1977

Articles 4 and 35, first subparagraph of Article 139(3) and Articles 311 to 325 and 333 to 340 of Council Directive No. 2006/112/EC of 28 November 2006

Section 12B(2)(b)

Article 17 of Council Directive No. 77/388/EEC of 17 May 1977

Articles 167, 173, 176 and 177 of Council Directive No. 2006/112/EC of 28 November 2006

Section 12B(2)(d)

Article 26a or 28o (inserted by Council Directive No. 94/5/EC of 14 February 1994) of Council Directive No. 77/388/EEC of 17 May 1977

Articles 4 and 35, first subparagraph of Article 139(3) and Articles 311 to 341 of Council Directive No. 2006/112/EC of 28 November 2006

Section 12B(4) in paragraph (b) of the meaning given to “B”

Article 12(1) of Council Directive No. 77/388/EEC of 17 May 1977

Article 93 of Council Directive No. 2006/112/EC of 28 November 2006

Section 12B(6)(b)

Article 26a or 28o of Council Directive No. 77/388/EEC of 17 May 1977

Articles 4 and 35, first subparagraph of Article 139(3) and Articles 311 to 341 of Council Directive No. 2006/112/EC of 28 November 2006

Section 15(5A) proviso

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 15B(1)(b)(ii)

clauses (a), (b), (c) and (d) of subparagraph B of paragraph 1 of Article 16, of Council Directive No. 77/388/EEC of 17 May 1977

Article 156(1) of Council Directive No. 2006/112/EC of 28 November 2006

Section 17(1)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 27(4A)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 27(9A)(1)(b)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 27(9A)(4)(d)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Section 32(2B)(a)

Council Directive No. 77/388/EEC of 17 May 1977

Council Directive No. 2006/112/EC of 28 November 2006

Fifth Schedule PART I Title

Fifth Schedule

PART I

Title

PART I Annex A of Council Directive No. 77/388/EEC of 17 May 1977

PART I

Annex A of Council Directive No. 77/388/EEC of 17 May 1977

PART I Article 295(1) and Annex VII of Council Directive No. 2006/112/EC of 28 November 2006

PART I

Article 295(1) and Annex VII of Council Directive No. 2006/112/EC of 28 November 2006

Fifth Schedule PART II Title

Fifth Schedule

PART II

Title

PART II Annex B of Council Directive No. 77/388/EEC of 17 May 1977

PART II

Annex B of Council Directive No. 77/388/EEC of 17 May 1977

PART II Article 295(1) and Annex VIII of Council Directive No. 2006/112/EC of 28 November 2006

PART II

Article 295(1) and Annex VIII of Council Directive No. 2006/112/EC of 28 November 2006

ISB Act 2007-04-02

Schedule 4 Finance Act 2007 Open official source

SCHEDULE 4 Miscellaneous Technical Amendments in Relation to Tax

SCHEDULE 4

Miscellaneous Technical Amendments in Relation to Tax

Section 128.

1. The Taxes Consolidation Act 1997 is amended in accordance with the following provisions

(a) in section 21A(4A) by substituting the following for paragraph (ii)

“(ii) the company made a claim for relief under Part 14.”;

(b) in section 97(2F)(a)(v)(II) by substituting “section 198 of the Social Welfare Consolidation Act 2005,” for “section 179 of the Social Welfare (Consolidation) Act, 1993,”;

(c) in section 194 by substituting “Part 4 of the Social Welfare Consolidation Act 2005,” for “Part IV of the Social Welfare (Consolidation) Act, 1993,”;

(d) in section 200(2)(a) by substituting “Chapter 15, 18 or 19 of Part 2 of, or Chapter 4 or 6 of Part 3 of, the Social Welfare Consolidation Act 2005,” for “Chapter 12, 16 or 17 of Part II of, or Chapter 4 or 6 of Part III of, the Social Welfare (Consolidation) Act, 1993,”;

(e) in section 201(2A)(b) (inserted by the Finance Act 2005) by substituting “section 262 of the Social Welfare Consolidation Act 2005” for “section 223 of the Social Welfare (Consolidation) Act 1993”;

(f) in section 206—

(i) by substituting “Social Welfare Consolidation Act 2005” for “Social Welfare (Consolidation) Act, 1993”, and

(ii) by substituting “section 9” for “section 7”;

(g) in section 396B(1) in paragraph (b) of the definition of “relevant corporation tax” by deleting “of the Principal Act”;

(h) in section 402(3)(a) by substituting “sections 396, 396A and 397” for “sections 396 and 397”;

(i) in section 403(1)(d) by deleting the following as part of subparagraph (ii) and inserting it at the end of paragraph (d) of section 403(1) as part of that paragraph

“then, subject to section 80A(2)(c), income from the company’s trade of leasing shall be treated as including—

(A) income from the activities referred to in subparagraph (ii), and

(B) chargeable gains on the disposal of machinery or plant acquired by the company in the course of its leasing trade; and for this purpose the amount of such a gain shall be computed without regard to any adjustment made under section 556(2).”;

(j) in section 404(1)(b)(iv) by substituting “shall be treated as if they were separate accounting periods, and” for “shall be treated as if they were separate accounting periods,”;

(k) in section 420B(1) in paragraph (b) of the definition of “relevant corporation tax” by deleting “of the Principal Act”;

(l) in section 466(1) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”;

(m) in section 466A—

(i) in subsection (1), in paragraph (a) of the definition of “dependent person” by substituting “Part 4 of the Social Welfare Consolidation Act 2005,” for “Part IV of the Social Welfare (Consolidation) Act, 1993,”, and

(ii) in subsection (6)(b)—

(I) in subparagraph (i) by substituting “Chapter 14 of Part 2 of the Social Welfare Consolidation Act 2005,” for “Chapter 11A (inserted by the Social Welfare Act, 2000) of Part II of the Social Welfare (Consolidation) Act, 1993,”, and

(II) in subparagraph (ii) by substituting “Chapter 8 of Part 3 of that Act.” for “Chapter 10 of Part III of that Act.”;

(n) in section 470A, in the definition of “PPS Number” in subsection (1) (inserted by the Finance Act 2001), by substituting “section 262 of the Social Welfare Consolidation Act 2005;” for “section 223 of the Social Welfare (Consolidation) Act, 1993;”;

(o) in section 472(1)(a), in the definition of “specified employed contributor”—

(i) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,” and

(ii) in subparagraph (i) by substituting “section 12(1)(b) of that Act,” for “section 9(1)(b) of that Act,”;

(p) in section 472A(1)—

(i) in paragraph (a)—

(I) by substituting “ ‘the Act of 2005’ means the Social Welfare Consolidation Act 2005;” for “ ‘the Act of 1993’ means the Social Welfare (Consolidation) Act, 1993;”,

(II) in the definition of “continuous period of unemployment” by substituting “section 141(3) of the Act of 2005;” for “section 120(3) of the Act of 1993;”, and

(III) in the definition of “qualifying individual”—

(A) in subparagraph (i)(I)(A) by substituting “Chapter 12 of Part 2 of the Act of 2005,” for “Chapter 9 of Part II of the Act of 1993,”,

(B) in subparagraph (i)(I)(B) by substituting “Chapter 2 of Part 3 of the Act of 2005,” for “Chapter 2 of Part III of the Act of 1993,”, and

(C) in subparagraph (i)(I)(C) by substituting “Chapter 7 of Part 3 of the Act of 2005,” for “Chapter 9 of Part III of the Act of 1993,”,

and

(ii) in paragraph (b)(i)(IV) by substituting “paragraph (h) or (i), respectively, of section 141(6) of the Social Welfare Consolidation Act 2005,” for “paragraph (g) or (h), respectively, of section 120(5) of the Social Welfare (Consolidation) Act, 1993,”;

(q) in section 511 in subsection (1)(a)(ii) and paragraphs (a)(ii)(II) and (b)(iii)(II) of subsection (3) by substituting “Social Welfare Consolidation Act 2005” for “Social Welfare (Consolidation) Act, 1993”, in each place where it occurs;

(r) in section 527(3)(c) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”;

(s) in section 697A(1) (inserted by the Finance Act 2002), in the definition of “tonnage tax activities”, by substituting “paragraphs (a) to (g) and paragraphs (i) and (j)” for “paragraphs (a) to (j) and paragraph (m)”;

(t) in section 697K(3) (inserted by the Finance Act 2002) by substituting “section 697H.” for “sections 697H and 697I or to income that is relevant shipping income by virtue of paragraph (m) of the definition of “relevant shipping income”.”;

(u) in section 730E(3A)(e) (inserted by the Finance Act 2001) by substituting “section 262 of the Social Welfare Consolidation Act 2005” for “section 223 of the Social Welfare (Consolidation) Act, 1993”;

(v) in section 730G (inserted by the Finance Act 2000) by substituting the following for subsection (5)

“(5) Where—

(a) any item has been incorrectly included in a return as appropriate tax, the inspector may make such assessments, adjustments or set-offs as may in his or her judgement be required for securing that the resulting liabilities to tax, including interest on unpaid tax, whether of the assurance company making the return or of any other person, are in so far as possible the same as they would have been if the item had not been included, or

(b) any item has been correctly included in a return, but within one year of the making of the return the assurance company proves to the satisfaction of the Revenue Commissioners that it is just and reasonable that an amount of appropriate tax (included in the return) which has been paid, should be repaid to the assurance company, such amount may be repaid to the assurance company.”;

(w) in section 739F(5)(a) (inserted by the Finance Act 2001) by substituting “liabilities to tax” for “liabilities”;

(x) in section 771(1) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”;

(y) in section 784C(4)(b) by substituting “Social Welfare Consolidation Act 2005,” for “Social Welfare (Consolidation) Act, 1993,”;

(z) in section 787A, in the definition of “PPS Number” in subsection (1) (inserted by the Pensions (Amendment) Act, 2002), by substituting “section 262 of the Social Welfare Consolidation Act 2005;” for “section 223 of the Social Welfare (Consolidation) Act, 1993;”;

(aa) in section 787M, in the definition of “PPS Number” in subsection (1) (inserted by the Finance Act 2005), by substituting “section 262 of the Social Welfare Consolidation Act 2005;” for “section 223 of the Social Welfare (Consolidation) Act 1993;”;

(ab) in section 848AE(1)(e) by substituting “section 848AG” for “section 848G”;

(ac) in section 848B, in the definition of “PPS Number” in subsection (1) (inserted by the Finance Act 2001), by substituting “section 262 of the Social Welfare Consolidation Act 2005;” for “section 223 of the Social Welfare (Consolidation) Act, 1993;”;

(ad) in section 862 by substituting “a Second Secretary General” for “a Deputy Secretary”;

(ae) in section 898B, in the definition of “PPS number” in subsection (1) (inserted by the Finance Act 2004), by substituting “section 262 of the Social Welfare Consolidation Act 2005;” for “section 223 of the Social Welfare (Consolidation) Act 1993;”;

(af) in section 898N (inserted by the Finance Act 2004)—

(i) in subsection (2) by substituting “return” for “report”, and

(ii) in subsection (4) by substituting “return” for “report” in both places where it occurs;

(ag) in section 934(2)(a) by substituting the following for subparagraph (ii)

“(ii) any person who has been admitted a member of the Irish Taxation Institute.”;

(ah) in Schedule 2, in paragraph 14(1) of Part 4—

(i) by substituting “the appropriate officer” for “the inspector”, and

(ii) by substituting “officer” for “inspector”;

and

(ai) in Schedule 12A, in the definition of “specified age” in paragraph 1(1), by substituting “Social Welfare Consolidation Act 2005” for “Social Welfare (Consolidation) Act, 1993”.

2. The Capital Acquisitions Tax Consolidation Act 2003 is amended in accordance with the following provisions

(a) in section 25—

(i) in subsection (1) by substituting “section 46(2)” for “section 21(e)”, and

(ii) in subsection (2) by substituting “section 46(2)” for “section 21(e)”;

(b) in section 45A(4)(a) by deleting “section 21(e) or”; and

(c) in section 49(6A)(b) by deleting “a return within the meaning of section 21(e) or”.

3. The Value-Added Tax Act 1972 is amended in section 11(3)(c)(iii) by substituting “relatively small amount” for “minimum amount”.

4. Chapter 1 of Part 2 of the Finance Act 1999 is amended in section 94(1), in the definition of “producing”, by substituting “subjecting to a specific process within the meaning of Additional Note 4 to Chapter 27 of the combined nomenclature (as referred to in paragraph 5 of Article 2 of the Directive)” for “subjecting to a specific process within the meaning of paragraph 1 of Article 5 of the Directive”.

5. The Finance Act 2001 is amended—

(a) in section 96 (as amended by the Finance Act 2005), in the definition of “tobacco products” by substituting “paragraph (c)” for “paragraph (b)”, and

(b) in section 124A (inserted by the Finance Act 2003), in subsection (1)(b)(ii) (as amended by the Finance Act 2004), by substituting “Chapter 3 of Part 2 of the Finance Act 2005” for “the Finance (Excise Duty on Tobacco Products) Act 1977”.

6. (a) As respects paragraph 1 —

(i) subparagraphs (a), (g) to (k), (s) and (t) apply to accounting periods ending on or after 1 January 2007,

(ii) subparagraphs (b) to (f), (l) to (r), (u), (x) to (aa), (ac) to (ae), (ag) and (ai) have effect as on and from the passing of this Act,

(iii) subparagraphs (v), (w), (af) and (ah) have effect as on and from 1 January 2007, and

(iv) subparagraph (ab) is deemed to have come into force and have taken effect as on and from 1 January 2006.

(b) Paragraph 2 is deemed to have come into force and have taken effect as respects the year 2006 and subsequent years.

(c) Paragraph 3 has effect as on and from the passing of this Act.

(d) Paragraph 4 is deemed to have come into force and have taken effect as on and from 27 October 2003.

(e) As respects paragraph 5 —

(i) subparagraph (a) is deemed to have come into force and have taken effect as on and from 25 March 2005, and

(ii) subparagraph (b) is deemed to have come into force and have taken effect as on and from 1 July 2006.

Finance Act 2007

Statutory Text (4 Articles)

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