asked the Minister for Finance if during the current financial year any sums have been collected in respect of excess profits duty; and, if so, whether he will state (a) by what statutory authority such sums were collected, and (b) for what years or accounting periods such sums were collected.
Ceisteanna—Questions. Oral Answers. - Excess Profits Duty.
The answer is in the affirmative. As regards (a) in the question, the excess profits duty was imposed by Part III. of the Finance (No. 2) Act, 1915, and the provisions governing the duty are to be found in that statute and in the following Acts:—
Finance Act, 1916, Sections 45-57;
Finance Act, 1917, Sections 20-28;
Finance Act, 1918, Sections 34-35;
Finance Act, 1919, Sections 32-36;
Finance Act, 1920, Sections 44-51;
Finance Act, 1921, Sections 35-42;
Finance Act, 1922, Sections 34-37;
Finance Act, 1926, Sections 32-36.
As regards (b) in the question, the liability to excess profits duty, while computable by reference to separate accounting periods, is adjustable by reference to the liability for the whole period to which the duty applied. The duty collected relates, therefore, to all or any of the accounting periods to which the duty applied.
The provisions relating to the determination of accounting periods are too complicated to detail. They will be found set out in full in the provisions I have quoted. It may be said broadly, however, that excluding special provisions relating to exceptional cases, new businesses, etc., the first accounting period was the period ending after the 4th August, 1914, and before the 1st July, 1915, and that the last accounting period was the period ending eighty-four months from the commencement of the first accounting period.