FINANCE ACT 2018

SCHEDULE 1

SCHEDULE 1

Section 51

Amendments to Capital Acquisitions Tax Consolidation Act 2003

The Capital Acquisitions Tax Consolidation Act 2003 is amended—

(a) in section 46 by substituting the following for subsection (7A)

“(7A) The making of enquiries by the Commissioners for the purposes of subsection (7)(a) or the authorising of inspections by the Commissioners under subsection (7)(b) in connection with or in relation to any relevant return (within the meaning given in section 49(6A)(b)) may not be initiated after the expiry of 4 years commencing on—

(a) the date on which the relevant return is received by the Commissioners, or

(b) where the matter of such conditions being satisfied is relevant to the assessment of the tax concerned, the latest date on which all of the conditions for a relief or exemption were required to be satisfied.”,

(b) in section 53A—

(i) in subsection (1)(b) by substituting “year,” for “year.”, and

(ii) by inserting the following after subsection (1)(b)

“(c) in the case of an inheritance referred to in section 15(1) or 20(1), the last day of the period of 4 months referred to in section 46(2C).”,

(c) in Part 8 by inserting the following after section 67

“Payment of tax following determination of an appeal

67A. (1) Where, on the determination of an appeal made under section 67(2) against an assessment of tax, the amount of tax payable by a person is in excess of the amount of tax that the person paid in respect of the assessment before the making of the appeal, the excess shall be due and payable on the same date as the tax charged by the assessment is due and payable.

(2) Notwithstanding subsection (1), where the amount of tax that a person paid before the making of an appeal is not less than 90 per cent of the amount of tax found to be payable on the determination of the appeal, the excess referred to in subsection (1) shall be due and payable not later than one month from the date of the determination of the appeal.”,

(d) in section 90—

(i) in subsection (1)—

(I) by deleting the definitions of “associated company”, “holding company” and “subsidiary”,

(II) by inserting the following after the definition of “full-time working officer or employee”

“ ‘holding company’ has the meaning assigned to it by section 8(1) of the Companies Act 2014;”,

(III) by substituting “section 93;” for “section 93.” in the definition of “relevant business property”, and

(IV) by inserting the following after the definition of “relevant business property”

“ ‘subsidiary’ has the meaning assigned to it by section 7 of the Companies Act 2014;

‘undertaking of substantial interest’ shall be construed in accordance with section 314(1)(b) of the Companies Act 2014.”,

and

(ii) in subsection (3) by substituting “undertaking of substantial interest” for “associated company” in each place where it occurs,

and

(e) in section 104 by inserting the following after subsection (3)

“(3A) Where an amount of tax is treated as an amount of capital gains tax for the purposes of this section under section 730GB of the Taxes Consolidation Act 1997, subsection (3) shall not apply in relation to that amount of tax.”.

SCHEDULE 2

SCHEDULE 2

Section 62

Miscellaneous Technical Amendments in Relation to Tax

1. The Taxes Consolidation Act 1997 is amended—

(a) in section 770(1), in the definition of “overseas pension scheme”, by substituting the following for paragraph (a)

“(a) operated or managed by an institution for occupational retirement provision as defined by Article 6(1) of Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 20161818 OJ No. L354, 23.12.2016, p. 37, and”,

18 OJ No. L354, 23.12.2016, p. 37

(b) in section 790B(1)—

(i) by substituting the following for the definition of “Directive”

“ ‘Directive’ means Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 20161919 OJ No. L354, 23.12.2016, p. 37 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast);”,

19 OJ No. L354, 23.12.2016, p. 37

and

(ii) in the definition of “scheme” by substituting “Article 6(4)” for “Article 6(d)”,

and

(c) in Schedule 13—

(i) by deleting paragraphs 19, 91, 105, 118, 129 and 135,

(ii) by inserting the following paragraphs after paragraph 200

“201. Policing Authority.

202. Educational Research Centre.

203. Sport Ireland.

204. A company to which section 7 of the Harbours Act 1996 applies.”,

(iii) in paragraph 54 by substituting “National Concert Hall.” for “National Concert Hall Company Ltd.”,

(iv) in paragraph 70 by substituting “Fís Éireann - Screen Ireland.” for “The Irish Film Board.”,

(v) in paragraph 102 by substituting “Commission for Regulation of Utilities.” for “Commission for Energy Regulation.”, and

(vi) in paragraph 160 by substituting “Commission for Railway Regulation.” for “The Railway Safety Commission.”.

2. The Value-Added Tax Consolidation Act 2010 is amended in section 12(2) by substituting “(other than a service of a kind referred to in section 33(2)(b), (ba) or (c))” for “(other than a service of a kind referred to in section 33(2)(b) or (c))”.

3. Section 130 of the Finance Act 1992 is amended—

(a) by deleting the definitions of “Directive 2002/24/EC” and “Directive 2003/37/EC”,

(b) by inserting the following definitions

“ ‘Regulation 167/2013’ means Regulation (EU) No. 167/2013 of the European Parliament and of the Council of 5 February 20132020 OJ No. L60, 2.3.2013, p. 1 on the approval and market surveillance of agricultural and forestry vehicles;

20 OJ No. L60, 2.3.2013, p. 1

‘Regulation 168/2013’ means Regulation (EU) No 168/2013 of the European Parliament and of the Council of 15 January 20132121 OJ No. L60, 2.3.2013, p. 52 on the approval and market surveillance of two- or three-wheel vehicles and quadricycles;”,

21 OJ No. L60, 2.3.2013, p. 52

(c) by substituting “ ‘category L1e vehicle’, ‘category L2e vehicle’, ‘category L3e vehicle’, ‘category L4e vehicle’, ‘category L5e vehicle’, ‘category L6e vehicle’ and ‘category L7e vehicle’ have the same meanings as in Regulation 168/2013;” for “ ‘category L1e vehicle’, ‘category L2e vehicle’, ‘category L3e vehicle’, ‘category L4e vehicle’, ‘category L5e vehicle’, ‘category L6e vehicle’ and ‘category L7e vehicle’ have the same meanings as in Directive 2002/24/EC;”,

(d) by substituting “ ‘category T vehicle’, ‘category T1 vehicle’, ‘category T2 vehicle’, ‘category T3 vehicle’ and ‘category T4 vehicle’ have the same meanings as in Article 4 of Regulation 167/2013;” for “ ‘category T1 vehicle’, ‘category T2 vehicle’, ‘category T3 vehicle’, ‘category T4 vehicle’ and ‘category T5 vehicle’ have the same meanings as in Annex II of Directive 2003/37/EC;”, and

(e) in the definition of “type-approval” by substituting “Regulation 167/2013 and Regulation 168/2013” for “Directive 2002/24/EC and Directive 2003/37/EC”.

4. The Finance Act 2001 is amended—

(a) in section 99B(10) by substituting “section 99AB” for “section 105A”,

(b) in section 105D by substituting “section 960H(4)” for “section 1006A(2A)” in each place, and

(c) in section 109W(c) by substituting “section 104(5)(b)” for “section 105(1)(b)”.

5. (a) Paragraph (1)(a) shall come into operation on 13 January 2019.

(b) Paragraph (1)(b) shall come into operation on such day as the Minister for Finance may appoint by order.

(c) Paragraph (1)(c) shall come into operation on 1 January 2019.

(d) Paragraphs 2, 3 and 4 shall have effect on and from the passing of this Act.