Vol. 523 No. 1
449 Mr. Quinn asked the Minister for Finance the proposed international multilateral agreements under the auspices of his Department being negotiated or prepared; the international organisation, if any, in each case through whose machinery the agreement is being negotiated; if it is proposed to ratify or accede to the agreement, if adopted; if so, if legislation will be required; and if he will make a statement on the matter. [19546/00]
There are no proposed international multilateral agreements under the auspices of my Department being negotiated or prepared at present.
450 Mr. Quinn asked the Minister for Finance the international multilateral agreements under the auspices of his Department which have not been signed by the State; the date and place it was opened for signature in each case; the international organisation, if any, through whose machinery the agreement was negotiated; if it is proposed to sign the agreement; if so, when; if legislation is required; and if he will make a statement on the matter. [19561/00]
The following information regarding international multilateral agreements under the auspices of my Department which have not been signed by the State has been supplied by the Revenue Commissioners.
Convention on Customs Treatment of Pool Containers was opened for signature on 15 April 1994 to 14 April 1995 at the offices of the UN in Geneva and negotiated through the United Nations. It is proposed to sign the convention when EU law is enacted which will facilitate its implementation in Ireland. No domestic legislation is required.
451 Mr. Quinn asked the Minister for Finance the international multilateral agreements under the auspices of his Department which have been signed but not ratified or acceded to by the State; the date and place it was opened for signature in each case; the international organisation, if any, through whose machinery the agreement was negotiated; if it is proposed to ratify or accede to the agreement; if so, when; if legislation is required; and if he will make a statement on the matter. [19576/00]
There are two international multilateral agreements which have been signed but not yet ratified by my Department. Both are related to the convention of 23 July 1990 on the elimination of double taxation in connection with the adjustment of profits of associated enterprises. The 1990 convention is commonly known as the Arbitration Convention. The Arbitration Convention provides for a mutual agreement procedure between tax authorities to avoid double taxation in certain cases involving associated companies. Double taxation can arise where associated companies operate in different member states and trade with each other. If one of the tax authorities concerned, having regard to transactions between the companies, makes an upward adjustment of the taxable profits of one of the companies, double taxation will occur unless the other tax authority makes a compensating adjustment in the taxable profits of the other company. Where this procedure fails to resolve disputes, the convention provides for referral to an independent advisory commission. The details requested are as follows:
Protocol amending the convention of 23 July 1990 on the elimination of double taxation in connection with the adjustment of profits of associated enterprises. The protocol amends the Arbitration Convention so as to extend it for further periods of five years at a time unless at least six months before the expiry of any five year period any of the member states informs the Secretary General of the Council of the European Union of its objection to such extension. Opened for signature on 25 May 1999 in Brussels and was negotiated through EU Council. Under section 826 of the Taxes Consolidation Act, 1997, a Government order is required. It is intended that this order will be implemented by the end of the year.
