Written Answers. - EU Directives.

Frances Fitzgerald

Question:

504 Ms Fitzgerald asked the Minister for Finance the EU Directives coming wholly or partly under the aegis of his Department which are not currently fully implemented; the reference numbers and subject matter of each directive; the deadline for implementation set out in each directive; if he will implement the directives by means of a Bill or statutory instrument; and when he will implement the directives in this regard. [1557/99]

Directive 97/5/EC of 27 January 1997 on cross-border credit transfers sets out transparency and performance requirements that must be met by institutions offering cross-border credit transfer services. It also contains a provision that stipulates that member states shall ensure that there are "adequate and effective complaints and redress procedures" in place in instances where cross-border credit transfer are lost.

The directive must be implemented by 14 August 1999. It is proposed to implement the directive by statutory instrument by the due date.

Directive 98/4/EC amends Directive 93/38/EEC co-ordinating the procurement procedures of entities operating in the water, energy, transport and telecommunications sectors.

The deadline for implementation of the directive is 16 February 1999. It is proposed to implement the directive by statutory instrument by the due date.

Directive 98/80/EC which provides for a special VAT scheme for investment gold must be transposed before 1 January 2000. Provisions to transpose this directive will be included in the forthcoming Finance Bill.

Directive 90/435/EEC requires,inter alia, member states to exempt from withholding tax certain distributions of profits from a subsidiary company in one member state to its parent company in another member state. As Ireland does not have a withholding tax on dividends that element of the directive was not formally legislated. As I announced in my budget speech that I will be introducing such a withholding tax as respects distributions made from 6 April, 1999, the legislation implementing the directive will require some modification.