This section secures that where, because of exemptions from income tax the company is entitled to recover income tax deducted from any annual payments received by it, either by way of set-off against corporation tax liability, or by repayment where the income tax deducted exceeds that liability, recovery of income tax is to be effected by means of a claim to which the provisions of section 432 of the Income Tax Act, 1967, as extended to corporation tax by section 146 (1) of this Bill, will apply.
SECTION 4.
Question proposed: " That section 4 stand part of the Bill."
It seems to me that section 1 (1) and (2) is modified by the later section. It simply means that a claim has to be made. The onus is on the person who is going to get the relief, if he claims the relief. He will not claim if it is not a relief.
There is a strong inclination on the part of people who are entitled to relief to claim it.
I am sure of that.
Question put and agreed to.