Vol. 212 No. 8
asked the Minister for Finance if he proposes to negotiate a new double taxation agreement with the British Government by reason of the proposed change of company taxation in the United Kingdom by the substitution of a corporation tax for the present income tax.
23.
asked the Minister for Finance whether he proposes to grant any credit to Irish residents in respect of the proposed British corporation tax which will be suffered on profits out of which dividends will be declared.
With your permission, a Cheann Comhairle, I propose to take Questions Nos. 22 and 23 together. Under the Double Income Tax Agreement between Ireland and Great Britain, a person resident in Ireland but not resident in Great Britain for a particular year may claim repayment of British income tax deducted at the source from British dividends. The available information seems to show that this Agreement will not be affected before April, 1966. The British proposals will not be known in detail until after the British Budget of 1965; and so it is not possible at this stage to say precisely how Irish shareholders in British companies may be affected by the proposed changes, nor can there be any question at this stage of entering into negotiations for a new double taxation agreement. An approach on the subject, however, has already been made to the British authorities.
