Taxes Consolidation Act, 1997. - Houses of the Oireachtas

Sch.2[No. 39.] Taxes Consolidation Act, 1997. [1997.]3. The accounts referred to in paragraph 2 shall distinguish theseparate account of each person.4. The Commissioners shall assess the income tax chargeable onthe accounts delivered to the best of their judgment and belief, andshall deliver the assessment books signed by them to the RevenueCommissioners.5. The Revenue Commissioners shall cause to be made out a certificateshowing the total amount of income tax, the total amountsof the dividends and profits attached to the dividends charged withincome tax, and the description of the persons or bodies of personsto whom such dividends and profits are payable or who have thedistribution or are entrusted with the payment of such dividends.6. The certificate shall be transmitted to the Commissioners whoseduty it is to make the assessment.7. (1) In the case of dividends and profits attached to dividendspayable to the Bank of Ireland out of the public revenue of the State,the Bank of Ireland shall set apart the income tax in respect of theamount payable to the Bank.(2) In the case of dividends and profits attached to dividendsentrusted to the Bank of Ireland for payment and distribution—(a) the Bank of Ireland shall before making any payment retainthe amount of the income tax for the purposes of theIncome Tax Acts,(b) the retaining of the amount shall be deemed to be a paymentof the income tax by the persons entitled to thedividends and shall be allowed by those persons on thereceipt of the residue of the dividends, and(c) the Bank of Ireland shall be acquitted and discharged of asum equal to the amount retained as though that sum hadbeen actually paid.8. Money set apart or retained under paragraph 7 shall be paidinto the general account of the Revenue Commissioners at the Bankof Ireland, and every such payment shall be accompanied by a certificate,under the hands of 2 or more of the Commissioners who madethe assessment, of the amount of the assessment under which thepayment is made.9. Where the Bank of Ireland does all such things as are necessaryto enable the income tax to be assessed and paid in respect of BritishGovernment Stocks and India Stocks inscribed in its books in Dublin,the Bank shall receive as remuneration an allowance, to be calculatedby reference to the amount of dividends paid in respect of suchStocks from which income tax is deducted, and to be fixed by theMinister for Finance.10. Except where otherwise provided in any other enactments inforce at the commencement of this Act, no assessment, charge ordeduction of income tax under this Part of this Schedule shall bemade where any half-yearly payment in respect of any dividendsdoes not exceed £2.50, but such dividends shall be assessed andcharged under Case III of Schedule D.1378