I move:—
That for the purpose of any Act of the present session to charge and impose certain duties of customs and inland revenue (including excise), to amend the law relating to customs and inland revenue (including excise) and to make further provisions in connection with finance, it is expedient to authorise as follows:
(a) to redeem borrowings, and interest thereon, in respect of capital services, there shall be charged annually on the Central Fund or the growing produce thereof a sum of £601,122 in the twenty-nine successive financial years and a sum of £717,012 in the thirty successive financial years commencing in each case with the financial year ending on the 31st day of March, 1959, and
(b) relief from tax, either by repayment or otherwise as the Revenue Commissioners consider proper, shall be given, in relation to the period between the passing of the Finance (Miscellaneous Provisions) Act, 1956 (No. 47 of 1956), and the passing of the said Act of the present session, where such relief is appropriate on account of amendment of the expression "goods" (as defined in Section 10 of the Finance (Miscellaneous Provisions) Act, 1956) effected by the said Act of the present session.
Paragraph (a) deals with Section 56 and paragraph (b) with Section 51 of the Bill. Section 56 deals with capital services redemption and Section 51 is necessary under the concession given for export profits. Deputies will remember that, in these concessions for export profits, we included fish farms and mushrooms. It will be retrospective to the time it was passed, but, in this case, they will get money rather than pay out. This will be necessary if there is a claim for any refund of income-tax paid on profits for export since 1956 and before this date. We cannot give the refund unless we get this legislation.
