Section 33 Method of charge and payment

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(1) Tax under Schedule C shall be charged by the Commissioners designated for that purpose by the Income Tax Acts, and shall be paid on behalf of the persons entitled to the profits, dividends, proceeds of realisation or price paid on purchase which are the subject of the tax-

(a) in the case of tax charged under paragraph 1 of that Schedule, by the persons and bodies of persons respectively entrusted with payment;

(b) in the case of tax charged under paragraph 2, 3 or 4 of that Schedule, by the banker or other person, or by the banker or by the dealer in coupons, as the case may be.

What is the basis of the Schedule C charge?

(1) If you are a paying agent, you are charged to Schedule C tax on behalf of the persons entitled to public revenue dividends.

(2) Schedule 2 shall apply in relation to the assessment, charge and payment of tax under Schedule C.

How is Schedule C applied in practice?

(2) The detailed rules for assessment, charge and payment of tax under Schedule C are contained in Schedule 2.