Taxes Consolidation Act, 1997. - Houses of the Oireachtas

Sch.2[No. 39.] Taxes Consolidation Act, 1997. [1997.]dividends, proceeds or price paid on purchase, and state the nameand address of each such person, and give particulars of the amountspayable and, in the case of amounts payable out of any public revenueother than that of the State, of the public revenue out of whicheach separate amount is payable.15. Any person mentioned in clauses (a) to (e) of paragraph 14(1)is referred to in this Part as a ‘‘chargeable person’’.16. The Revenue Commissioners shall—(a) have all necessary powers in relation to the examining, auditing,checking and clearing the books and accounts ofdividends, proceeds or price paid on purchase deliveredunder paragraph 14,(b) assess and charge the dividends, proceeds or price paid onpurchase at the rate of income tax in force at the time ofpayment, but reduced by the amount of the exemptions(if any) allowed by the Revenue Commissioners, and(c) give notice of the amount so assessed and charged to thechargeable person.17. The chargeable person shall out of the moneys in that person’shands pay the income tax on the dividends, proceeds or price paidon purchase on behalf of the persons entitled to the dividends, proceedsor price paid on purchase, and shall be acquitted in respect ofall such payments, and the Income Tax Acts shall apply as in thecase of dividends payable out of the public revenue of the State andentrusted to the Bank of Ireland for payment and distribution.18. The chargeable person shall pay the income tax into the generalaccount of the Revenue Commissioners at the Bank of Ireland,and in default of payment the income tax shall be recovered fromthe chargeable person in the like manner as other income taxassessed and charged on that person may be recovered.19. A chargeable person who does all such things as are necessaryto enable the income tax to be assessed and paid shall receive asremuneration an allowance, to be calculated by reference to theamount of the dividends, proceeds or price paid on purchase paidfrom which tax has been deducted, and to be fixed by the Ministerfor Finance at a rate not being less than £0.675 for every £1,000 ofthat amount.20. Notwithstanding anything to the contrary in the Income TaxActs, where the Bank of Ireland (in this paragraph referred to as‘‘the Bank’’) is entrusted with the payment of any dividends whichare payable to any persons in the State out of any public revenueother than that of the State, this Part shall apply to the Bank and,where the Bank does all things required by this Part to be done bya person entrusted with the payment of such dividends, remunerationshall be payable to the Bank in accordance with paragraph 19.21. Nothing in this Part shall impose on any banker the obligationto disclose any particulars relating to the affairs of any person onwhose behalf that banker may be acting.22. Where income tax in respect of the proceeds of the sale orrealisation of any coupon or in respect of the price paid on the purchaseof any coupon has been accounted for under this Part by anybanker or any dealer in coupons and the Revenue Commissioners1380