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Taxes Consolidation Act, 1997 (Number 39 of 1997)

1058Refusal to allow deduction of tax.

[ITA67 s520; CTA76 s147(1) and (2); FA96 s132(1) and Sch5 PtI par10(5)]

(1) A person who refuses to allow a deduction of income tax or corporation tax authorised by the Tax Acts to be made out of any payment shall forfeit the sum of [1]>£50<[1][2]>[1]>€60<[1]<[2][2]>€3,000<[2].

(2) Every agreement for payment of interest, rent or other annual payment in full without allowing any such deduction shall be void.


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Substituted by FA01 sched5.


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Substituted by F(No.2)A08 sched5(part2)(1)(af). The enactments specified in Schedule 5 are amended or repealed to the extent and manner specified in that Schedule and, unless the contrary is stated, shall come into effect after 24 December 2008.