I wish to deal with Financial Resolutions Nos. 19 to 23, inclusive. Financial Resolution No. 19 deals with the treatment of relevant trading charges on income and the compensation of the relief due in respect of foreign tax paid by a company on its foreign income. In general, relevant trading charges on income are paid on royalties paid in the course of a trade. Schedule 24 of the Taxes Consolidation Act 1997 sets out how the amount of such relief is computed.

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