I have received no notice of amendments to this resolution.
FINANCIAL RESOLUTIONS—REPORTED. - DEBATE CONTINUED. INCOME TAX.
Resolution No. 5 read a second time.
I desire to ask the Minister for Finance what "No. 111 of Schedule A " means. It would be well, I think, if the Minister read it, so that Deputies would understand.
I was going to explain that, as originally printed, the figures "111" were a misprint for the figure "3" of Schedule A. The reason for this resolution is that great doubt exists as regards the sufficiency of the existing law for assessing profits on railways, fisheries and other concerns referred to in No. 3 of Schedule A in the Income Tax Acts. It is at present open to argument whether in Ireland these concerns should be assessed only on the valuation. If this argument proved effective there would be a great loss of revenue, and to rectify that this resolution is put in.
Fisheries, and railways, and what else?
All the other concerns referred to in No. 3 of Schedule A.
We are in the position now that we are asked to amend legislation about which we know nothing.
The concerns referred to are railways, fisheries, mines, gas-works, docks, water-works, and ferries.
One may suppose, without any unnatural assumption on behalf of the Ministry, that if one knows nothing at all about it, it is all the easier to pass the matter amended.
In practice, the assessments have always been made on the profits. The difficulties referred to have arisen and will continue to arise occasionally, and it is in order to obviate these difficulties and to set the matter right that this resolution is brought in. I now move that the Dáil agrees with the resolution.
Question put: "That the Dáil agrees with the Committee in Resolution No. 5."
Agreed.