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15 1933

FINANCE ACT, 1933

PART III.

Excess Profits Duty.

Confirmation of charge of duty.

36. —In order to remove doubts it is hereby declared and enacted—

(a) that the charge of excess profits duty effected by Part III of the Finance (No. 2) Act, 1915, and the Acts amending or extending that Act was not repealed, prejudiced, or affected by section 32 of the Finance Act, 1926 (No. 35 of 1926), and

(b) that, notwithstanding anything contained in the said section 32 , the said charge of excess profits duty continues and always continued in full force and effect, and

(c) that the Revenue Commissioners have and since the passing of the Finance Act, 1932 (No. 20 of 1932), have had power to make assessments and additional assessments to excess profits duty in respect of any accounting period according to the best of their judgment at any time in any case in which they deem or deemed it necessary.

Person assessable.

37. —(1) Sub-section (2) of section 45 of the Finance (No. 2) Act, 1915, shall be construed and have effect and be deemed always to have had effect as if the words “at the date of the making of the assessment” were inserted therein in lieu of the words “for the time being” now contained therein.

(2) Where there has been a change of ownership of a trade or business after the end of the final accounting period, the Revenue Commissioners may, if they think fit, assess excess profits duty in respect of any accounting period on any person who owned or carried on such trade or business at any time during such accounting period.

Certificate of discharge.

38. —(1) Any person owning (whether beneficially or in a fiduciary capacity) a trade or business in respect of which excess profits duty is or may be charged or chargeable or having a power of sale over any such trade or business may apply to the Revenue Commissioners for such certificate as is hereinafter mentioned, and, if the Revenue Commissioners are satisfied that such person has agreed to sell such trade or business but has not completed such sale or that such person bona fide intends as soon as conveniently may be to sell such trade or business and the Revenue Commissioners are also satisfied that the facts in relation to the charge and payment of excess profits duty in respect of such trade or business for every accounting period justify them in so doing, the Revenue Commissioners shall issue to such person a certificate signed by an officer of the Revenue Commissioners duly authorised in that behalf by them, certifying either (as the case may require) that no excess profits duty is chargeable in respect of such trade or business or that all excess profits duty chargeable in respect of such trade or business has been paid.

(2) A certificate issued under this section shall discharge any purchaser for valuable consideration in money or money's worth of the trade or business to which such certificate relates from the person to whom such certificate was issued and all persons deriving title to such trade or business from or through such purchaser from all claims for excess profits duty in respect of such trade or business, and shall (save in case of fraud by the person to whom such certificate was issued or failure by him to disclose material facts) also discharge such person and all persons deriving title to such trade or business from or through him otherwise than for valuable consideration in money or money's worth from (as the case may be) all claims or any further claim for excess profits duty in respect of such trade or business.

Assessment of executors and administrators.

39. —(1) Where a deceased person would, if living, be chargeable with and assessable to excess profits duty in respect of any accounting period, the executor or administrator of such deceased person shall be a person chargeable with and may be assessed to excess profits duty in respect of such accounting period in like manner and to the same extent as such deceased person, if living, would be so chargeable and could lawfully be so assessed but no such executor or administrator shall be liable for any such duty in excess of the assets of such deceased person which such executor or administrator has received or might, but for his own neglect or default have received.

(2) No assessment or additional assessment to excess profits duty may be made by virtue of this section on the executor or administrator of a deceased person after the expiration of two years from the date on which the grant of probate or letters of administration was made to such executor or administrator, save that where such executor or administrator has lodged a corrective affidavit for the purpose of assessment of estate duty, such assessment or additional assessment to excess profits duty may be made at any time before the expiration of two years from the lodgment of such corrective affidavit.

(3) The executor or administrator of a deceased person who died before the 11th day of May, 1933, shall not be charged with or assessable to excess profits duty by virtue of this section if such executor or administrator has fully administered the estate and distributed the assets of such deceased person before the said 11th day of May, 1933.

(4) The executor or administrator of a deceased, person may apply to the Revenue Commissioners for such certificate as is hereinafter mentioned and the Revenue Commissioners shall, on being satisfied that the facts of the case justify them in so doing, issue to such executor or administrator a certificate signed by some person duly authorised in that behalf by the Revenue Commissioners, certifying (as the case may require) that such deceased person was not chargeable with excess profits duty or that all excess profits duty with which such deceased person was charged had been paid.

(5) A certificate under the next preceding sub-section of this section shall (save in case of fraud by the executor or administrator to whom it is granted or of failure by him to disclose material facts) discharge such executor or administrator from (as the case may be) all claims or any further claim for excess profits duty by virtue of this section.