Select view:

Taxes Consolidation Act, 1997 (Number 39 of 1997)

This section has been repealed.

Repealed by FA00 sched2.


139 Dividends and other distributions at gross rate or of gross amount.

[CTA76 s178; FA78 s28(6); FA97 s37 and Sch2 par1]

(1) Where any right or obligation created before the 6th day of April, 1976, is expressed by reference to a dividend at a gross rate or of a gross amount, that right or obligation shall, in relation to a dividend payable on or after that date [1]>and before the 6th day of April, 1999<[1], take effect as if the reference were to a dividend of an amount determined by the formula—

A × D

D –



A is the standard credit rate per cent for the year of assessment in which the dividend is paid, and

D is an amount equal to a dividend at that gross rate or of that gross amount.

(2) Subsection (1) shall apply with the necessary modifications to a dividend partly at a gross rate or of a gross amount and shall apply to any distribution other than a dividend as it applies to a dividend.




Inserted by FA98 sched5(2).



Repealed by FA00 sched2.