I move:
That
(a) the rate of interest charged under section 550 of the Income Tax Act, 1967 (No. 6 of 1967), which applies for purposes of income tax and sur-tax, and the rate of interest charged under section 14 of the Finance Act, 1962 (No. 15 of 1962), which applies for purposes of corporation profits tax, shall, in relation to tax due and payable whether before, on or after the date of the passing of the Act giving effect to this Resolution, be .75 per cent for any month commencing on or after such date or part of such a month;
(b) notwithstanding that notice of appeal has been given against an assessment to income tax, sur-tax or corporation profits tax made on or after the date of the passing of the Act giving effect to this Resolution, tax charged by the assessment shall carry interest at the rate of .75 per cent for each month or part of a month from the date on which it would have been due and payable if no such notice had been given;
(c) in relation to the remission of interest on income tax, sur-tax and corporation profits tax where the tax is paid within three months from the due date, section 550 (2) of the Income Tax Act, 1967, and section 14 (3) of the Finance Act, 1962, shall, as respects tax chargeable by assessments made on or after the date of the passing of the Act giving effect to this Resolution be amended by the substitution of two months for three months;
(d) notwithstanding that, in the case of an assessment to income tax, sur-tax or corporation profits tax made on or after the date of the passing of the Act giving effect to this Resolution, the person assessed has required an appeal against the assessment, which has been determined by the Appeal Commissioners, to be reheard by a judge of the Circuit Court, tax shall be paid in accordance with the determination of the Appeal Commissioners, subject to repayment, with interest thereon, of any tax overpaid or payment of any balance due, having regard to the determination of the judge;
(e) where an assessment to income tax, sur-tax or corporation profits tax for the year 1971-72 or any subsequent year of assessment or for an accounting period ending on or after the date of the passing of the Act giving effect to this Resolution, as the case may be, has been made for the purpose of recovering an undercharge attributable to the fraud or neglect of any person, the amount of the tax undercharged shall carry interest at the rate of .75 per cent for each month or part of a month——
(i) in relation to income tax or sur-tax, from the date or dates on which the tax undercharged would have been payable if it had been included in an assessment made before the 1st day of January in that year to the date of payment of the tax undercharged, and
(ii) in relation to corporation profits tax, from the expiration of one year after the end of the accounting period to the date of payment of the tax undercharged,
(f) the Act giving effect to this Resolution may contain provisions consequential on or incidental to any of the provisions aforesaid.