Vol. 202 No. 1
I move:—
THAT subsection (2) of Section 3 of the Finance Act, 1928 (No. 11 of 1928), shall be amended by the substitution of "on the 1st day of January in the year of assessment" for "on or before the 1st day of January next after the end of the year of assessment".
This is to provide that surtax will be paid 12 months earlier.
Does that mean that anybody would have to pay two years' surtax in one?
The Revenue Commissioners will have their choice of the two years but can only take one year.
When does this come into operation?
It will be paid on 1st January next on either this year's income or last year's income, whichever is the higher.
What about where there has been a cessation of business?
Whichever is the bigger.
That is right.
It seems that way.
