Brian Cowen (Laois-Offaly, Fianna Fail)
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I move the following Financial Resolutions:

THAT section 97 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a deduction against rental income of interest on borrowed money employed in the purchase, improvement or repair of a premises, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT Part 22 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the provisions relating to dealing in or developing land and disposals of development land, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for the ending of relief from income tax in respect of income from dealing in residential development land and for the treatment of losses from dealing in residential development land.

THAT–

(a) section 268 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the various types of industrial buildings and structures for the purposes of Part 9 of that Act and associated matters, and

(b) section 316 of that Act, which sets out the rules for the interpretation of references to 'capital expenditure' (as used in Part 9 of that Act) and for determining when such expenditure is incurred,

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

THAT Part 22 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the provisions relating to dealing in or developing land and disposals of development land, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for the ending of relief from corporation tax in respect of profits or gains arising from dealing in residential development land and for the modification of the relief for losses incurred from dealing in residential development land.

THAT section 626B of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for an exemption from tax in the case of gains on certain disposals of shares, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT in the Taxes Consolidation Act 1997 (No. 39 of 1997)–

(a) provision be made for a scheme of tax relief for companies incurring capital expenditure on intangible assets, and

(b) sections 247, 288, 615, 617, 755, 756 and 768 be amended,

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

THAT paragraph (b) of subsection (2) of section 97A (inserted by section 72(1)(c) of the Finance Act 2008) of the Finance Act 1999, which provides for payments in respect of heavy oil used for private pleasure navigation, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That in the Value-Added Tax Act 1972 (No. 22 of 1972)–

(a) section 7, which relates to waiver of exemption, be amended to ensure no unjustified entitlement to VAT credit arises under the capital goods scheme for VAT on certain types of properties, and

(b) section 7B, which relates to transitional measures in respect of a waiver of exemption, be amended to ensure there is no indefinite deferral of the VAT when a taxpayer disposes of certain types of properties.