Stephen Donnelly (Wicklow, Independent)
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Question 151: To ask the Minister for Finance if he will provide a list of measures included in the Finance Bill 2012 that were not announced in budget 2012; the cost or revenue implications of each of these measures; the details of any public announcement that had been made of these measures prior to the publication of the Finance Bill 2012; and, for each measure, details of any organisations that lobbied him to bring forward legislation on that measure. [13924/12]

Michael Noonan (Limerick City, Fine Gael)
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The Finance Bill was published on 8th February and contained 76 measures not announced in Budget 2012. A list of these measures is appended. The issue of costings of measures included in the Bill, including those which were not announced in the Budget, was addressed by my colleague, Minister of State Hayes, during the Committee Stage of the Bill. As indicated by the Minister of State, the Budget Book published on Budget Day contained a full assessment of the yield and cost on each of the measures proposed. As further indicated by the Minister of State, there is no substantial change in the Finance Bill compared with my Budget Statement in December. There is no major new expenditure item. Indeed, many of the individual proposals contained in the Bill, which were not specifically referred to in the Budget, are technical in nature.

Accordingly I do not consider that it would be an appropriate use of time to provide the detailed breakdown the Deputy has sought in relation to each of these 76 measures. However if he would care to highlight measures in the Bill which are of particular interest to him, I will see that the information relating to these is provided.

MEASURES INCLUDED IN FINANCE BILL 2012 BUT NOT ANNOUNCED IN BUDGET 2012

Income Tax

Section 117 - Civil Partnership

Section 10 - Revenue Job Assist

Section 4 - Share-based Remuneration

Section 11 - Tax Relief on Third Level Fees

Section 115 - Artists Exemption

Section 22 - Significant Buildings And Gardens

Section 35 - Deposit Interest Retention Tax (DIRT) – Technical amendments

Section 35 - Foreign Deposit Interest – Tax Rate Anomalies

Section 37 - Encashment Tax Modernisation

Section 6 - Health Insurance Age Related Income Tax Credit

Retirement Relief for Sportspersons

Section 5 - Relief On Retirement For Certain Income Of Certain Sportspersons

Stock Relief

Section 19 - Additional Qualifying Course for Stock Relief for Young Trained Farmers

Section 23 and Accelerated Capital Allowances

Section 15 - High Earners Interaction With Section 23 & Accelerated Capital Allowances

Exit Tax

Section 28 - Life Assurance Exemption for Pension Funds and PRSAs

Section 29 - Collective investment undertakings – rate alignment

EU Savings Directive

Section 108 - Ending of Reporting Exemption for Certain Interest Payments

Capital Gains Tax

Section 61 - Grangegorman Development Agency – Exemption

Section 59 & 61 - Exemptions for Certain State Bodies

Section 60 - Exemption for Compensation Payments to Turf Cutters

Section 56 - Contingent Liabilities

Section 63 - Anti-avoidance – offshore trusts

Section 55 - Anti-avoidance – bearer shares

Capital Acquisitions Tax

Section 95 - Group Tax-Free Thresholds

Section 102 - CAT pay and file date

Section 100 - Agricultural relief – residence condition

Section 100 - Anti-avoidance – agricultural relief

Section 97 & 98 - Anti-avoidance – foundations, general powers of appointment, administration of an estate

Section 18, 96 & 101 - Modernisation – technical changes

Section 99 - Exemptions for sales of heritage property to State bodies

Stamp Duty

Section 93 - Self-assessment and modernisation

Section 87 - Relief for company mergers

Section 86 & 91 - Technical changes

Section 92 - Young Trained Farmer relief

Section 90 - Grangegorman Development Agency – exemption

Section 91 - Health Insurance Levy

Section 91 - Non-life insurance levy

Pension Taxation

Section 17 - Impacts of the Finance Act 2011 reduction in the maximum allowable pension fund for tax purposes (the Standard Fund Threshold or SFT)

Corporation Tax

Section 26 - R&D Tax Credit Scheme

Section 43 - Tax treatment of transactions involving carbon emission allowances under the EU Emissions Trading Scheme (ETS)

Section 52 - Tax treatment of certain foreign sourced dividends

Section 45 - Tax exemption for certain State-sponsored non-commercial bodies

Sections 42, 53, 47 and 50 - Other Corporation Tax changes

Tax Administration

Section 20 - Professional Services Withholding Tax

Section 21 - Relevant Contracts Tax

Revenue Powers

Section 23 - Relief for investment in films

Section 77 & 104 - Obligation to keep certain records

Section 105 - Taxpayer confidentiality

Section 107 - Returns of payment transactions by payment settlers

Section 106 - Returns of certain information by investment undertakings

Section 109 - Penalty for deliberately or carelessly making incorrect returns, Etc.

Section 110 - Power of Collector-General to require certain persons to provide return of property

Section 111 - Security for certain taxes

Section 113 and Schedule 4 - Modernisation of Direct Taxes Assessing Rules including rules for Self Assessment

Section 114 and Schedule 5 - Miscellaneous amendments relating to administration

Section 116 - Provision of electronic financial statements

Section 118 - Gifts to the State by certain donors

Section 112 - Countering serious tax criminality

International Financial Services

Section 41 - Cash Pooling

Section 51 - Unilateral Credit Relief for inbound leasing royalties

Section 38 - Technical Exposure to Irish tax liability on interest payments to non-residents

Section 40 & 89 - Section 110 measures – Green IFSC Initiative

Section 39 – Taxation of Certain Short Term Leases

Section 46 - Extension of Group Relief for Losses to companies with non-EU/EEA Parent

Section 36 - Islamic Finance

Section 30 - Non-Resident Investors in Irish Funds

Section 31 - Exchange Traded Funds

Section 32, 33 & 34 - UCITS Undertakings for Collective Investment in Transferable Securities IV Issues - Cross-Border Mergers and Reconstructions of Investment Funds

Section 88 - Extension of Stamp Duty reliefs to accommodate a range of financial transactions

Section 48 & 49 - Relief for excess foreign tax on royalties by reduction of other royalty income

Value-Added Tax

Section 82 - Definition of Bread for VAT Purposes

Section 73, 79, 80 & 81 - Provision for Recovery and Penalties in relation to VAT Refund Orders

Section 74 & 78 - Minor Changes in relation to VAT on Property

Section 76 - Removal of VAT Deductibility on Conference Accommodation where booked under the Travel Agent Margin Scheme

Section 73 - Strengthening VAT Ministerial Orders

Excise

Section 66, 69 and 70 - Carbon Tax

Section 66 - Amendment of Chapter 1 of Part 2 of Finance Act 1999