914 Returns by issuing houses, stockbrokers, auctioneers, etc

Summary

This section empowers inspectors to request returns from issuing houses, stockbrokers, auctioneers and certain other persons of the particulars of certain business transactions.

Details

Application

(1), (8) For capital gains tax purposes, an inspector may by notice in writing require returns under any of the provisions of this section. The Revenue Commissioners may require those returns to be made in an approved electronic format.

Issuing houses

(2) Issuing houses (and similar institutions) are obliged, when requested, to furnish particulars of persons to whom shares or securities are issued or allotted, or with whom the shares are placed, and the number of shares issued or allotted to each person. The term “shares” includes units in a unit trust.

(3) A person who is not in the business of issuing, allotting or placing shares but has done so may also be required by notice to make a similar return.

Members of the Stock Exchange

(4) A member of a stock exchange in the State is obliged, when requested, to furnish particulars of all share transactions, namely, details of the buyer and seller, the number of shares bought and sold and the price paid for the shares.

(5) A person acting as an agent in the State in transactions in shares and securities and who is not a member of a stock exchange in the State may also be required by notice to make a similar return.

Auctioneers and other dealers

(6) An auctioneer or other dealer is required to make returns for all transactions in tangible movable property for which the price paid was greater than €19,050 (or €6,350 where the transaction was effected in the period from 6 April, 1994 to 5 April, 1995).

Time limit

(7) Returns under this section are not required for transactions occurring more than 3 years before the service of the notice requesting the return.

Relevant Date: Finance Act 2021