asked the Minister for Finance the amount of sur-tax collected under section 530 of the Income Tax Act, 1967 on the undistributed income of certain companies.
28.
Ceisteanna—Questions. Oral Answers. - Sur-Tax.
27.
asked the Minister for Finance what mode of appeal is available to companies who feel they are being unfairly levied with sur-tax under section 530 of the Income Tax Act, 1967.
With your permission, a Cheann Comhairle, I propose to answer Questions Nos. 27 and 28 together.
The amounts of sur-tax collected under section 530 of the Income Tax Act, 1967, in the years 1965-66 to 1970-71 inclusive were as follows:
|
£ |
|
|
1965-66 |
14,500 |
|
1966-67 |
16,150 |
|
1967-68 |
17,300 |
|
1968-69 |
29,750 |
|
1969-70 |
9,000 |
|
1970-71 |
18,000 |
In many cases settlement is made on the basis of a distribution by the company of a dividend regarded as reasonable by the revenue authorities.
Statistics are not available for earlier years.
A company aggrieved by a direction given by the Revenue Commissioners under section 530 may appeal against it to the Appeal Commissioners. If the company is dissatisfied with the decision of the Appeal Commissioners it may require the appeal to be reheard by a Board of Referees.
An appeal on a point of law may be taken to the High Court by way of case stated from the decision of either the Appeal Commissioners or the Board of Referees.
In determining the amounts payable in the case of any company the Revenue Commissioners have regard to the requirements necessary or advisable for the maintenance and development of the business of the company.