Dáil debates

Thursday, 15 February 2007

Finance Bill 2007: Financial Resolutions

 

11:00 am

Photo of Brian CowenBrian Cowen (Minister, Department of Finance; Laois-Offaly, Fianna Fail)
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I move the following Resolutions:

1. THAT Schedule 13 to the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the list of accountable persons for the purposes of the scheme of withholding tax on fees for professional services, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

2. THAT section 216A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for an exemption from income tax in respect of relevant sums arising from a qualifying residence, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

3. THAT section 664 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides relief for certain income from leasing of farm land, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

4. THAT Part 30 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the tax treatment of retirement benefit schemes, retirement annuity contracts, purchased life annuities, personal retirement savings accounts, approved retirement funds and approved minimum retirement funds, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

5. THAT the Taxes Consolidation Act 1997 (No. 39 of 1997) be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for the amendment of the provisions relating to the limitation on the amount of certain tax reliefs that may be used in a year of assessment by certain high income individuals."

6. THAT Chapter 2 of Part 23 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides a regime of farming relief for increases in stock values, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

7. THAT the Taxes Consolidation Act 1997 (No. 39 of 1997), in so far as it relates to profits and gains arising from income from stallions, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

8. THAT section 1008 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the separate assessment of the partners in a partnership in relation to the profits or gains of, and loss sustained in, the trade of the partnership, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

9. THAT Chapter 2 of Part 18 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a scheme of tax deduction at source from payments by principal contractors to certain subcontractors in the construction, meat processing and forestry industries, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

10. THAT Part 36B of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides an incentive scheme for those on low incomes to reinvest their Special Savings Incentive Account (SSIA) funds into a pension product when their SSIA matures, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

11. THAT section 172J of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides credit for, or repayment of, dividend withholding tax borne, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

12. THAT Chapter 4 of Part 27 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides a regime for the taxation of certain offshore funds, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

13. THAT Part 27 of the Taxes Consolidation Act 1997 (No. 39 of 1997), be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide new rules for taxing income or gains arising from investments in personal portfolio investment undertakings.

14. THAT section 730H of the Taxes Consolidation Act 1997 (No. 39 of 1997), which is the interpretation and application provision for the rules governing the taxation of certain foreign life policies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

15. THAT Chapter 5 of Part 26 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the taxation treatment of policyholders of life assurance companies in respect of "new basis business", be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

16. THAT Chapter 1 of Part 33 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relates to anti-avoidance and the transfer of assets abroad, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

17. That section 603A of the Consolidation Act 1997 (No. 39 of 1997), which provides an exemption from capital gains tax in respect of a gain on the disposal of a site by a parent to his or her child, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

18. THAT Schedule 15 to the Taxes Consolidation Act 1997 (No. 39 of 1997), which specifies a number of bodies that are exempt from capital gains tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

19. THAT section 746 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which applies certain provisions of the capital gains tax code for the purposes of charging gains on disposals of interests in offshore funds where the disposals are made outside the State for the benefit of persons resident in the State, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

20. THAT section 980 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the deduction, by the purchaser, of an amount in respect of capital gains tax from the purchase price of certain specified assets where a clearance certificate is not provided by the vendor, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

21. THAT section 96 of the Finance Act 1999 (No. 2 of 1999), which provides for the rates of mineral oil tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

22. THAT the duty of excise imposed by subsections (1) and (3) of section 41 of the Finance Act 1925 (No. 28 of 1925) on the registration of a person in the register of firearms dealers be charged, levied and paid at the rates specified in the Act giving effect to this Resolution in lieu of the rates specified in subsections (1) and (2) of section 159 of the Finance Act 1992 (No. 9 of 1992).

23. THAT an excise duty be charged, levied and paid on firearm certificates granted or renewed on or after 1 August 2007 in the manner and to the extent specified in the Act giving effect to this Resolution.

24. THAT an excise duty be charged, levied and paid on firearm certificates for non-residents granted on or after 1 August 2007 in the manner and to the extent specified in the Act giving effect to this Resolution.

25. THAT an excise duty be charged, levied and paid on authorisations of rifle or pistol clubs or shooting ranges granted or renewed on or after 1 August 2007 in the manner and to the extent specified in the Act giving effect to this Resolution.

26. THAT an excise duty be charged, levied and paid on firearms training certificates issued on or after 1 August 2007 in the manner and to the extent specified in the Act giving effect to this Resolution.

27. THAT an excise duty be charged, levied and paid on licences for reloading ammunition granted or renewed on or after 1 August 2007 in the manner and to the extent specified in the Act giving effect to this Resolution.

28. THAT an excise duty be charged, levied and paid on authorisations to possess, use, carry, sell or expose for sale a restricted firearm granted or renewed on or after 1 August 2007 in the manner and to the extent specified in the Act giving effect to this Resolution.

29. THAT in the Value-Added Tax Act 1972 (No. 22 of 1972)—

(a) section 3, which relates to the supply of goods,

(b) section 5, which relates to the supply of services,

(c) section 7, which relates to waiver of exemption,

(d) section 8, which relates to taxable persons,

(e) section 10, which relates to the amount on which tax is chargeable, and

(f) the Second Schedule, which relates to goods and services chargeable at the rate of zero per cent,

be each amended in the manner and to the extent specified in the Act giving effect to this Resolution.

30. THAT section 81A of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for relief from stamp duty on the transfer of land to young trained farmers, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

31. THAT Chapter 1 of Part 7 of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for provisions applicable to particular instruments in relation to exemptions or reliefs from stamp duty, be amended in respect of transfers of land to young trained farmers in the manner and to the extent specified in the Act so giving effect to this Resolution.

32. THAT section 83A of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for an exemption from stamp duty on the transfer of a site from a parent to a child, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

33. THAT section 92B of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for residential property first time purchaser relief, be amended in the manner and to the extent specified in the Act so giving effect to this Resolution.

34. THAT Part 6 of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which inter alia provides for relief from stamp duty on the transfer of securities, subject to compliance with certain conditions, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

35. THAT section 86 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which grants an exemption from capital acquisitions tax in respect of a house comprised in a gift or an inheritance, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

36. THAT Part 9 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the principal provisions relating to relief for capital expenditure, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

Question put and agreed to.