Dáil Éireann díospóireacht -
Tuesday, 23 Apr 1963

Vol. 202 No. 1

Financial Resolutions. - Resolution No. 7—Income Tax.

Dr. Ryan

I move:—

(1) THAT, subject to the next paragraph, income tax in two or more assessments falling to be made on a person under Schedule A, B, D or E of the Income Tax Act, 1918, or under two or more of those Schedules, which, by virtue of the Act giving effect to this Resolution, is stated in one sum, shall for the purposes of Section 14 of the Finance Act, 1962 (No. 15 of 1962), be deemed to be tax charged by an assessment to income tax.

(2) THAT where an appeal is pending against any one or more of such assessments, so much of the tax stated in one sum as is, by virtue of the Act giving effect to this Resolution, treated as referable to assessments not under appeal shall, for the purposes of the said section 14, be deemed to be tax charged by an assessment to income tax.

Mr. Sweetman

I do not know what this means, either.

Dr. Ryan

I think I started to say something about this in the wrong place. This is the technical business. Last year, the Finance Act imposed a charge of interest on arrears of income tax over a certain point. When we come to the one taxpayer, one charge, it will have to be brought in together. As brought in last year, each assessment was taken separately with regard to interest and it is felt that next year when we have the one taxpayer, one charge, it should be brought in together. That is why I say it is a technical matter.

Mr. Sweetman

I have no doubt the Minister understood what he was saying but I am afraid it did not penetrate to me. I presume we will have a special section in the Finance Bill dealing with this, will we?

Dr. Ryan

Yes, of course we will.

Mr. Sweetman

We will see if my intelligence can reach that.

Resolution put and agreed to.