asked the Minister for Finance if he will state the present regulations for computing the profits of mining ventures.
Ceisteanna—Questions. Oral Answers. - Profits of Mining Ventures.
Mr. Lemass
It is presumed that the Deputy has in mind the computation of mining profits for income-tax purposes.
The profits of mining ventures are computed according to the relevant rules applicable to Schedule D of the Income-tax Act, 1918, in the same way as the profits of other concerns in the nature of trade, but an allowance way be claimed in respect of certain capital expenditure on mine development subject to the provisions of Section 6 of the Finance Act, 1946.