Finance Bill, 1999: Financial Resolutions.

I move the following Resolutions:

THAT section 461 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for personal tax allowances, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 472 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for a tax allowance for certain employees, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 472A of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for tax relief for the long-term unemployed, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 345 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the granting of double rent allowance in respect of rent paid for certain business premises, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT provision be made in the Act giving effect to this Resolution for imposing a charge of mineral oil tax, in accordance with the provisions of that Act, on mineral oil produced in the State or imported into the State.

THAT provision be made in the Act giving effect to this Resolution so that:

(a) the amount on which value-added tax is chargeable is the cost of the goods, or in the absence of such cost, the cost price of similar goods, in the case of certain transfers of goods to other member states in the Community and in the case of certain intra-Community acquisitions of goods following transfers from other member states of the Community;

(b) persons are excluded from availing of the margin scheme where they benefit from the special scheme for agricultural machinery;

(c) persons are excluded from availing of the special scheme for means of transport when they benefit from the special scheme for agricultural machinery;

(d) value-added tax chargeable on the intra-Community acquisition of certain vehicles is payable on the fifteenth day of the month following that during which the intra-Community acquisition occurs, or, in cases where an invoice is issued before that date by the supplier in another member state to the person acquiring the vehicle, when that invoice is issued.

THAT Part 18 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to tax deductions from payments to sub-contractors in certain industries, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT provision be made in this Act giving effect to this Resolution for imposing a charge in accordance with the provisions of that Act, on licences granted by the Commissioners to persons who produce, sell, deliver or deal in, on any premises, any mineral oil.

THAT Schedule 13 to the Taxes Consolidation Act, 1997, (No. 39 of 1997), which specifies in a list the accountable persons for the purposes of Chapter 1 of Part 18 of that Act, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT the provisions of the Taxes Consolidation Act, 1997 (No. 39 of 1997), relating to retirement annuities be amended in the manner and to the extent provided for in the Act giving effect to this Resolution.

THAT Part 6 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to company distributions, tax credits, franked investment income and advance corporation tax, be amended so as to provide, in the manner and to the extent specified in the Act giving effect to this Resolution, that a withholding tax of 24 per cent shall be charged in respect of distributions made on or after the 6th day of April, 1999, by companies resident in the State.

THAT section 153 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for an effective exemption from income tax for non-resident persons in respect of distributions made by companies resident the State, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT the provisions of the Taxes Consolidation Act, 1997 (No. 39 of 1997), relating to the securitisation of assets, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 344 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the granting of capital allowances in relation to the construction or refurbishment of certain multi-storey car parks, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT the Taxes Consolidation Act, 1997 (No. 39 of 1997), be amended in the manner and to the extent specified in the Act giving effect to this Resolution so as to provide that a rate of corporation tax of 25 per cent shall be charged on certain profits of companies for the financial year 2000 and subsequent financial years.

THAT Chapter 1 of Part 14 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to the charging of corporation tax at an effective rate of 10 per cent on certain manufacturing and other income of companies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT provision be made in the Act giving effect to this Resolution for the withdrawal of the corporation tax exemption provided under the Taxes Consolidation Act, 1997 (No. 39 of 1997), for Bord Gáis Éireann.

THAT Schedule 24 to the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for credit for foreign tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT provision be made in the Act giving effect to this Resolution so as to provide that, subject to certain exceptions, companies incorporated in the State will be resident in the State for corporation tax purposes.

THAT section 707 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to the taxation of life assurance companies, be amended so as to provide that all income of such companies is properly brought into charge, in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT provision be made for in the Act giving effect to this Resolution for–

(a) amending the First Schedule to the Stamp Act, 1891,

(b) amending section 19 of the Finance Act, 1952,

(c) amending section 9 of the Stamp Duties Management Act, 1891, and

(d) amending section 208 of the Finance Act, 1992,

in the manner and to the extent specified in the Act so giving effect.

THAT section 746 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of the income gains of offshore funds where the gains are attributed to Irish resident shareholders and beneficiaries, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT the provisions of the Taxes Consolidation Act, 1997 (No. 39 of 1997), relating to the tax treatment of income and capital sums received by an Irish resident or ordinarily resident individual where such income or capital sums are connected with the transfer of assets, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 723 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of special investment policies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 737 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of special investment schemes, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 738 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which is concerned with the taxation treatment of undertakings for collective investment, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 838 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of special portfolio investment accounts, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 541A of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for tax treatment of certain foreign currency bank accounts on the introduction of the euro, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT Chapter 3 of Part 19 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the capital gains tax treatment of inheritances, settled property, and disposals held in a fiduciary or representative capacity, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT provision be made in the Act giving effect to this Resolution to provide that capital gains accruing to certain non-resident companies are attributed to persons in the State who are participators in the company.

THAT the provisions of the Taxes Consolidation Act, 1997 (No. 39 of 1997), relating to the disposal of interests in trusts, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT section 510 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the treatment of shares appropriated under approved profit sharing schemes to participants, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

THAT the provisions of the Taxes Consolidation Act, 1997 (No. 39 of 1997), relating to companies' chargeable gains, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

Question put and agreed to.