This section obliges a company which has not made a return of its profits to notify the inspector within 12 months from the end of an accounting period that it is chargeable to corporation tax for that period. Provision is made for penalties where a company fails to give the required notice. The section corresponds with section 5 of the Finance (Miscellaneous Provisions) Act, 1968, which imposes a similar obligation in relation to income tax.
SECTION 142.
Question proposed: " That section 142 stand part of the Bill."
Is this normal in other codes?
It is.
Question put and agreed to.