asked the Minister for Finance (a) whether Death Duties of Landowners may, with the consent of the Revenue Commissioners, be paid in land; (b) whether Irish Free State National Loan Bonds are permitted to be accepted by the Revenue Commissioners in payment of Death Duties, and (c) whether any other form of payment of taxes exists by payment in kind.
Ceisteanna—Questions. Oral Answers. - Payment of Death Duties.
The required information is as follows: (a) Under Section 56 (1) of the Finance (1909-10) Act, 1910, the Revenue Commissioners may, if they think fit, on the application of any person liable to pay Estate Duty or Succession Duty in respect of any real or leasehold property, accept part of the property in satisfaction of the whole or part of the duty.
(b) There is no provision for the acceptance of Saorstát Eireann National Loan in payment of Revenue Duties.
(c) Securities issued under the Damage to Property (Compensation) Act, 1923, are accepted in discharge of Death Duties upon the conditions prescribed in Section 13 (9) of the Act. Under Section 13 (3) Compensation Stock may also be issued direct to the Revenue Commissioners in settlement of arrears of Income Tax or other duties due by claimants for compensation. Land Bonds are accepted in payment of Death Duties and Income Tax when transferred by the Land Commission under Section 3 of the Land Act, 1923, in discharge of duties payable out of the purchase money of lands sold.
Certain War Stocks and Bonds prescribed in accordance with powers conferred by the Finance Acts of 1917 and 1918 are accepted under certain conditions in payment of Death Duties and Excess Profits Duty. The Finance Act of 1923 provided that, as regards Death Duties, British securities should not be accepted in the case of any claim for Death Duties arising in Saorstát Eireann on a death occurring on or after 1st April, 1924.