Mr. Niall Cody:

Whatever is introduced, whatever policy options are taken, the key from the Revenue perspective is that they are workable, administrable, easy to pay and hard to avoid. Those are the principles. The Chairman talked about capital taxes and recommendations. The area we are interested in with regard to capital taxes is that the method of collecting them is antiquated and based on old income tax principles of the annual year. We would like to look at those from an event-based point of view. If somebody has an event that generates capital acquisitions tax, CAT, or capital gains tax, CGT, it would all be wrapped up while the transaction is taking place and while the legal people are involved in it. We believe the technology is now there to move to a real-time process. That is the stuff in the commission report that we will strongly be recommending, regardless of what policy options there are. We can modernise that and certainly-----