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Taxes Consolidation Act, 1997 (Number 39 of 1997)


Income tax: basis of assessment under Cases III, IV and V

70 Case III: basis of assessment.

[ITA67 s75 and s77(1), (2) and (5); FA90 s17(1)(a)(i) and (iii); FA97 s146(1) and Sch9 ptI par1 (5)]

(1) Income or profits chargeable under Case III of Schedule D shall, for the purposes of ascertaining liability to income tax, be deemed to issue from a single source, and this section shall apply accordingly.


(1A) (a) In this subsection “excluded amount” means the amount of the deficiency where—

(i) the computation of income arising in respect of a possession outside the State gives rise to a deficiency, and

(ii) income arising in respect of that possession would be chargeable under Case V of Schedule D if the possession was in the State.

(b) Nothing in subsection (1) shall be construed as meaning that an excluded amount can be taken into account in computing the income or profits chargeable under Case III of Schedule D.


(2) Income tax under Case III of Schedule D shall be computed on the full amount of the profits or income arising within the year of assessment.

(3) Income tax shall, subject to section 71, be paid on the actual amount computed in accordance with subsection (2) without any deduction.

(4) Subsection (2) shall, in cases where income tax is to be computed by reference to the amount of income received in the State, apply as if the reference in that subsection to income arising were a reference to income so received.



Inserted by FA13 s16. Deemed to have come into force and takes effect on and from 1 January 2013.