Peter Barry
Question:109 Mr. Barry asked the Minister for Finance if the committee established in the 1991 budget to look into taxation of banks and corporations has completed its work; and whether he proposes to publish the findings.
Written Answers. - Taxation of Banks.
In the context of the renewal of the bank levy in the 1991 budget, my predecessor announced that a special working group of officials of my Department and representatives of the banks would be set up to examine corporation tax applying to banks and the role of the levy. I indicated in this year's budget that the working group had investigated the matter, and that as a result of its examination, new arrangements in relation to banks' taxation would be introduced in this year's Finance Bill. Those are now set out in sections 42 and 180 of the Bill as initiated. It would not be appropriate to publish the working group's examination of its remit. There will, of course, be an opportunity to debate the new arrangements in the upcoming Committee Stage debate on the Finance Bill.