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Dáil Éireann debate -
Tuesday, 13 Oct 2020

Vol. 999 No. 2

Financial Resolution No. 6: Capital Gains Tax - Deferral of Exit Tax: Motion

I move:

(1) THAT subsection (9) of section 629 of the Taxes Consolidation Act 1997 (No. 39 of 1997) be amended, as respects amounts of tax referred to in that section which remain unpaid on or after 14 October 2020, by substituting the following paragraph for paragraph (a):

“(a) Simple interest shall be payable in respect of an amount of tax which is due and payable and which remains unpaid, and shall be calculated, from the specified date to the date of payment, for any day or part of a day during which that amount of tax remains unpaid (and by reference to the outstanding balance of that amount, as distinct from being by reference to an amount of a particular instalment due) at the prevailing rate specified in the Table to subsection (2)(c)(ii) of section 1080.”.

(2) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act 1927 (No. 7 of 1927).

Financial Resolution No. 6 agreed to.
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