Could I ask what procedure we adopt in regard to these resolutions? There are quite a number of them. As far as I am concerned I am prepared to take them all together and dispose of them, if it is in order to do that, on the basis that I do not want to engage in discussion on these when we will be able to engage in relevant discussion on the appropriate section of the Bill. I would be quite prepared to agree to all of them together on the understanding that any point we wish to make or objection we wish to make would be made on the relevant section. We are not to be taken as agreeing with all the principles involved in the resolutions.
Finance Bill, 1976: Financial Resolutions.
Is that satisfactory?
If this is the same procedure as we adopted last year it is acceptable to me.
I move:
That section 316 of the Income Tax Act, 1967 (No. 6 of 1967), be amended in relation to any claim for relief under the said section 316 made on or after the 30th day of March, 1976, by the insertion in subsection (2) after "1969" of "or section 30 (2), 31 (2) or 50 (4) of the Finance Act, 1974".
Question put and agreed to.
I move:
That section 477 of the Income Tax Act, 1967 (No. 6 of 1967), and section 20 (2) of the Finance Act, 1971 (No. 23 of 1971), be amended as specified in the Act giving effect to this Resolution, in relation to the dates on or before which income tax charged under Schedule D is to be due and payable for the year of assessment 1976-77 and for subsequent years of assessment."
Question put and agreed to.
I move:
That section 497 of the Income Tax Act, 1967 (No. 6 of 1967), be amended by the insertion of the following additional proviso:
"Provided also that, in relation to repayments of tax made on or after the 30th day of March, 1976, the amount of tax to be repaid under this section to any person for any year shall not exceed a sum equal to the difference between the amount of tax paid by him, whether by deduction or otherwise, in respect of his income for that year and the amount of tax which would be payable by him for that year if his total income had been charged to tax in accordance with the provisions of this Act."
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution, to the extent and in the circumstances specified in that Act, for the imposition of an additional duty of income tax at the rate of 20 per cent on certain income arising to trustees.
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution, to the extent and in the circumstances specified in that Act, for treating certain unpaid remuneration as having been paid on certain dates and for the application to that unpaid remuneration of the provisions of Chapter IV of Part V of the Income Tax Act, 1967 (and any regulations made thereunder), and of sections 7, 8 and 9 of the Finance Act, 1968 (No. 33 of 1968).
Question put and agreed to.
I move:
That section 21 of the Finance Act, 1974 (No. 27 of 1974), be amended by the substitution, for subsection (4), of the following subsections:
"(4) In computing and charging, in accordance with the provisions of this section, profits or gains from farming farm land—
(a) no deduction shall be allowed other than the deductions specified in subsections (2) and (3), and
(b) the aggregate amount of the deductions to be allowed shall not exceed 40 times the rateable valuation of that farm land.
(4A) Subsection (4) shall apply—
(a) as respects the year 1976-77, and
(b) as respects any year of assessment for which an individual elects as provided for in subsection (1) and makes, on or after the 30th day of March, 1976, a claim for relief under section 307, 308, 309 or 318 of the Income Tax Act, 1967 (No. 6 of 1967)."
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution, to the extent and in the circumstances specified in that Act, to ensure that section 15 (3) of the Finance Act, 1974 (No. 22 of 1974), shall not have effect in certain cases where farm land is occupied by an individual who is not the beneficial owner thereof and in respect of which no payment by way of rent or otherwise is payable or a payment is made which is less than the payment which could have obtained in respect of the land on the basis that the negotiations for the payment had been at arm's length.
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution, to the extent and in the circumstances specified in that Act—
(a) for the imposition, on a person who holds an office or employment the profits or gains from which are chargeable to tax under Case III of Schedule D by virtue of section 52 of the Income Tax Act, 1967 (No. 6 of 1967), of liability to income tax in respect of any sum received for expenses or any benefit derived by that person to the same extent as would arise in respect of that sum or benefit by virtue of Chapter III of Part V of the said Act, if the person were chargeable to tax under Schedule E in respect of the profits or gains from his office or employment.
(b) for the imposition of a minimum charge to tax in respect of the use of a vehicle, within the meaning of section 30 of the Finance Act, 1973 (No. 19 of 1973), in any case where a charge to tax falls to be made by virtue of section 117 of the Income Tax Act, 1967, in respect of the benefit derived by a person from the provision of that vehicle.
Question put and agreed to.
I move:
That sections 31 and 37 of the Finance Act, 1973 (No. 19 of 1973), be amended—
(a) by the substitution of ‘to which this section applies' for—
(i) ‘set forth in the Second Schedule' in the said section 31, and
(ii) ‘set forth in the Second Schedule to this Act' in the said section 37;
(b) by the substitution of ‘1976' for ‘1975'; and
(c) by the addition thereto of the following subsection—
‘(2) This section applies to the Agreement, set forth in the Second Schedule, as extended by the Agreement set forth in the Schedule to the Double Taxation Relief (Taxes on Income) (United Kingdom) Order, 1975 (S.I. No. 143 of 1975)'.
Question put and agreed to.
I move:
That section 54 of the Corporation Tax Act, 1976 (No. 7 of 1976), be amended by the addition of the following subsection:
‘(4) (a) "Goods" in this section shall not include goods sold to the agency whether or not the goods are exported out of the State.
(b) "The Agency" in paragraph (a) means the Minister for Agriculture and Fisheries when exercising or performing any power or function conferred on him by Regulation 3 of the European Communities (Common Agricultural Policy) (Market Intervention) Regulations, 1973 (S.I. No. 24 of 1975), and any other person when exercising or performing any corresponding power or function in any member state of the European Economic Community.'
Question put and agreed to.
I move:
That interest payable under section 18 of the Wealth Tax Act, 1975 (No. 25 of 1975), or section 41 of the Capital Acquisitions Tax Act, 1976 (No. 8 of 1976), be not allowed in computing any income, profits or losses for any of the purposes of the Tax Acts or of any of the enactments relating to corporation profits tax.
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution, to the extent and in the circumstances specified in that Act—
(a) requiring in cases where there is an appeal against an assessment to income tax, sur-tax, corporation profits tax, corporation tax or capital gains tax, made on or after the passing of the said Act, that the appellant specify the amount of tax, or each instalment thereof, as may be appropriate (hereinafter referred to as the "specified amount of tax"), which, in his opinion, is likely to become payable on or after determination of the appeal,
(b) for the collection of the specified amount of tax,
(c) for the charging of interest thereon, or on any unpaid balance thereof, as the case may be—
(i) if the specified amount of tax is not paid within the time required, or
(ii) if the tax so paid is less than the lesser of the tax assessed or 80 per cent of the tax found to be chargeable by the assessment on determination of the appeal, or
(iii) the balance of the tax so chargeable is not paid within two months from the date of the determination.
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution, to the extent and in the circumstances specified in that Act, for the restriction of the amount of expenditure—
(a) to be allowable as a deduction in the computation of profits or income for the purposes of income tax or corporation tax, or
(b) to be taken into account for the purposes of a claim in respect of expenses of management under section 15 of the Corporation Tax Act, 1976 (No. 7 of 1976), or that section as applied by section 33 of that Act,
where the expenditure is incurred after the 28th day of January, 1976, on a vehicle within the meaning of section 30 of the Finance Act, 1973 (No. 19 of 1973), being a vehicle the relevant cost of which exceeds £3,500.
Question put and agreed to.
I move:
That—
(1) in the case of a trade carried on by a society registered under the Industrial and Provident Societies Acts, 1893 to 1971, no transaction on or after the 6th day of April, 1976, shall be regarded as an exempted transaction for the purposes of section 220 of the Income Tax Act, 1967, and
(2) provision be made in the Act giving effect to this Resolution to secure that all profits or gains arising to such societies on or after the said date be charged to corporation tax to the extent specified in that Act.
Question put and agreed to.
I move:
1. That this Resolution applies to the duty of excise imposed on gaseous hydrocarbons in liquid form by paragraph 10 of Financial Resolution No. 5 passed by Dáil Éireann on the 28th day of January, 1976.
2. That provision be made in the Act giving effect to this Resolution for—
(a) increasing, with effect from a date to be appointed by order under that Act, the rate of the duty to which this Resolution applies to a rate of £0.10 per gallon,
(b) allowing a rebate of the amount of the duty paid in pursuance of this Resolution less an amount calculated at the rate of £0.02 per gallon on gaseous hydrocarbons in liquid form which are shown to the satisfaction of the Revenue Commissioners not to be intended for use for combustion in the engine of a motor vehicle, and
(c) the imposition of a duty of excise of £0.25 on a licence to be taken out annually by any person who sells or delivers gaseous hydrocarbons in liquid form on which duty at the rate of £0.10 per gallon has been paid in pursuance of this Resolution.
Question put and agreed to.
I move:
That provision be made in the Act giving effect to this Resolution for the restriction of the exemption from stamp duty provided for by section 49 (3) of the Finance Act, 1969, to conveyances, transfers and leases of houses.
Question put and agreed to.
I move:
That, subject to the provisions of the Act giving effect to this Resolution, the duty of excise on mechanically propelled vehicles imposed by the Finance (Excise Duties) (Vehicles) Act, 1952 (No. 24 of 1952), as amended, shall be chargeable in respect of such a vehicle whether or not the vehicle is used in a public place and any person whose name, either at the time when the duty is charged or at any other time during the period to which the duty relates, is entered in relation to the registration of the vehicle pursuant to the Roads Act, 1920, shall be liable for payment of the duty.
Question put and agreed to.
I move:
That section 17 of the Finance Act, 1970 (No. 14 of 1970), be amended to the extent and in the circumstances specified in the Act giving effect to this Resolution, so as to provide—
(a) for the deduction of income tax by principals from payments made on or after the 6th day of December, 1976, to subcontractors, other than subcontractors who produce certificates of authorisation issued by the Revenue Commissioners;
(b) for the regarding of certain persons as principals; and
(c) for the charging of interest in respect of income tax deductible by principals which is not remitted to the Revenue Commissioners within the time specified in regulations under the Finance Act, 1970.
Question put and agreed to.
I move:
That section 525 (1) of the Income Tax Act, 1967 (No. 6 of 1967), be amended by the substitution for "as received by him after deduction of tax" of "as if it were a sum received by him after deduction of tax at the standard rate".
Question put and agreed to.
I move:
That section 3 of the Value-Added Tax Act, 1972 (No. 22 of 1972), be amended by the substitution of the following paragraph for paragraph (e) of subsection (1):
"(e) the application by a person for the purposes of his business of the goods, being goods which were developed, constructed, assembled, manufactured, produced, extracted or imported by him or by another person on his behalf, except where tax chargeable in relation to the goods would, if they had been delivered to the first-mentioned person by an accountable person, be wholly deductible under section 12, and".
Question put and agreed to.
I move:
That section 10 of the Value-Added Tax Act, 1972 (No. 22 of 1972), be amended by the insertion after subsection (6) of the following subsection:
"(6A) (a) In this subsection ‘duty' means an exercise duty chargeable on the importation, manufacture or production of goods or a customs duty.
(b) The amount on which tax is chargeable on the delivery of goods liable to duty shall, where the delivery is made before the duty falls due, be increased by an amount equal to the amount of duty that would be payable in relation to the goods if the duty had become due at the time of the delivery."
Question put and agreed to.
I move:
That section 12 of the Value-Added Tax Act, 1972 (No. 22 of 1972), be amended by the substitution for paragraph (d) of and the proviso to subsection (1) of the following:
"(d) the tax chargeable during such period in respect of goods applied for the purposes of his business and treated as delivered in accordance with section 3 (1) (e):
Provided that, in relation to—
(i) the application of any goods of a kind specified in the Fourth Schedule by a person for the purposes of his business and treated as delivered in accordance with section 3 (1) (e),
(ii) the delivery (otherwise than by virtue of section 3 (1) (e)) of any goods of a kind specified in the Fourth Schedule delivered to a manufacturer of goods of the kind so delivered, being goods applied by him for the purposes of his business otherwise than as stock-in-trade (within the meaning of section 34), or
(iii) the delivery (otherwise than by virtue of section 3 (1) (e)) or importation of any goods of a kind specified in the Fourth Schedule delivered to or imported by a person other than a manufacturer of goods of the kind so delivered or imported,
the amount deductible under this section by any such person shall not exceed a sum representing tax at the rate for the time being specified in section 11 (1) (a) on the amount value, as the case may be, on which tax was chargeable in respect of the application, delivery or importation in question."
Question put and agreed to.
I move:
That section 21 of the Value-Added Tax Act, 1972 (No. 22 of 1972), be amended by the substitution for paragraph (b) of subsection (2) of the following paragraph:
"(b) to tax recoverable by virtue of a notice under section 23 as if (whether a notice of appeal under that section is received or not) the tax were tax which the person was liable to pay for the taxable period or, as the case may be, the later or latest taxable period included in the period comprised in the notice."
Question put and agreed to.
I move:
That section 32 of the Value-Added Tax Act, 1972 (No. 22 of 1972), be amended by the insertion in subsection (1), after paragraph (u), of the following paragraph:
"(uu) the adjustments to be made by an accountable person of any apportionment referred to in paragraph (x) or deduction under section 12 previously made, being adjustments by reference to changes, occurring not later than five years from the end of the taxable period to which the original apportionment or deduction relates, in any of the matters by reference to which the apportionment or deduction was made or allowed, and the determination of the taxable period in and from which or in which any such adjustment is to take effect."
Question put and agreed to.