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reports of various commissions which have con
sidered the reform of company law
in recent
years. This comparative quality helps the reader
to get a deeper understanding of the significance
and weaknesses of English company law which,
in most respects, is identical to our own.
A possible cause for complaint is the author's
tendency at times to over condense the facts of
some complicated cases included, in his anxiety
to get to the core of the judgments. Some students
may find it more difficult to follow the judgments
as a result. It is a pity too that the excellent
notes which will be of particular interest to prac
titioners are in such small print. These, however,
are small reasons to cavil with what should prove
an excellent supplement to text books. Indeed,
judged solely on the quality of the author's com
ments it is superior to many.
P. C. Kilroy
STATUTORY INSTRUMENTS
INCOME TAX CONSTRUCTION
CONTRACTS
REGULATIONS 1971
(S.I.
No. 1 of 1971)
These Regulations prescribe the manner in
which the scheme of deduction of tax from pay
ments to certain sub-contractors, which was intro
duced by Section 17 of the Finance Act, 1970, is
to operate. The Regulations will come into oper
ation on 6th April, 1971, this being the date on
which Section 17 is brought into effect by Order
of the Minister for Finance dated 22nd December,
1970 (S.I. No. 314 of 1970).
Part I of the Regulations contains definitions
and provides for the transfer to their offices of
any of the functions of the Revenue Commission
ers under the Regulations.
It also covers the
manner in which application is to be made for a
certificate authorising the receipt of payments by
sub-contractors without deduction of
tax and
secures that a person liable to deduct tax will be
accountable for that tax whether or not he de
ducts it.
Provision is also included for the service of
documents by post and for the manner in which
certain evidence in penalty proceedings may be
provided.
Part II provides that persons in the construction
industry who make payments to sub-contractors
must keep a register of such payments. Where
accounts of the business are made up the register
is to be maintained for the accounting year.
In
other cases the register is to be maintained on a
year of assessment basis.
An obligation is also imposed on persons mak
ing payments under deduction of tax to provide
the payee with a certificate of deduction when
making the payment and to send, on the same day,
a copy of the certificate to the Inspector of Taxes.
Provision is made for the circumstances that a
payment to a sub-contractor may be received by
him on behalf of a gang or group of sub-contrac
tors of which he is a member. The recipient of
the payment — if tax has been deducted there
from — must supply each other member of the
gang or group with a certificate of the member's
share of the net payment and also provide the
Inspector of Taxes with a break-down of the total
payment. Where tax has not been deducted from
the payment which is being distributed, the mem
ber making
the distribution must deduct and
account for tax in respect of any payment made
to any other member who is not authorised to
receive payment in full.
Part III deals with payment and recovery of
tax deductible from amounts paid
to sub-con
tractors. Persons liable to make such deductions
are required within 10 days from the end of every
"income tax month" (i.e., a month beginning on
the 6th day of any calendar month) to pay over
to the Collector all tax deductible during that
month and to forward to the Collector a copy
of every certificate of deduction issued during the
month.
The provisions of the Income Tax Acts re
lating
to
the
recovery of
income
tax under
Schedule D are applied to the recovery of tax de
ductible from payments to sub-contractors and
provision is included for the making of estimates
on persons who do not remit, or do not fully
remit, tax so deductible.
Part IV provides
the machinery whereby a
person who has received a payment under de
duction of tax may claim repayment on a monthly
basis by reference to the total income tax paid
or borne by him in the repayment period and the
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