Finance Act, 1998

Chapter 4

Corporation Tax

Rate of corporation tax.

55.—(1) Section 21 of the Principal Act is hereby amended in subsection (1):

(a) in paragraph (a) by the substitution for “March, 1997, and” of “March, 1997,”, and

(b) by the substitution for paragraph (b) of the following paragraphs:

“(b) 36 per cent for that part of the financial year 1997 beginning on the 1st day of April, 1997, and ending on the 31st day of December, 1997, and

(c) 32 per cent for the financial year 1998 and each subsequent financial year.”.

(2) Schedule 6 shall have effect for the purpose of supplementing this section.