Dáil debates
Wednesday, 26 January 2011
Finance Bill 2011: Committee Stage
5:00 pm
Martin Mansergh (Tipperary South, Fianna Fail)
The imposition of taxation is always prospective. Likewise, reliefs and concessions should be prospective as special circumstances dictate. Otherwise, if a concession were to be granted, it would serve as a precedent every time stamp duty or any other event or transaction tax such as capital gains tax or capital acquisitions tax were to be changed. That is the reason why there would be considerable hesitation.
I am aware, of course, that in various parts of the tax code some transitional relief has been granted from time to time. That, in any event, is the situation at the moment. There has been a good deal of talk today about a finance Bill (No. 2) later in the year and if the Deputy's party is in office, it is very welcome to look at the matter again.
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