Finance Bill, 2001: Financial Resolutions.

I move the following Financial Resolutions:

1. That section 122 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which charges to tax the benefit to employees from loans given to them by their employers at preferential rates of interest, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

2. 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.

3. That provision be made in the Taxes Consolidation Act, 1997 (No. 39 of 1997), to provide for the taxation of approved share option schemes in the manner and to the extent specified in the Act giving effect to this resolution.

4. That the taxation treatment which applies to annuities payable under retirement annuity contracts approved under section 784 or 785 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), be modified in the manner and to the extent specified in the Act giving effect to this resolution.

5. That Chapter 1 of Part 5 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which concerns the basis of assessment, persons chargeable and extent of charge under Schedule E, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

6. That section 823 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides relief by way of a deduction against earnings in the case of Irish resident individuals who are employed overseas, other than in the United Kingdom, during a year of assessment, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

7. That section 246 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the obligation to deduct tax from certain payments, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

8. That Chapter 1 of Part 20 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.

9. That Schedule 18A to the Taxes Consolidation Act, 1997 (No. 39 of 1997), which restricts set-off of pre-entry capital losses which accrue to a company before its entry to a group of companies, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

10. That section 89 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the valuation of unsold trading stock on the discontinuance of a trade, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

11. That provisions of the Taxes Consolidation Act, 1997 (No. 39 of 1997), relating to the taxation of exploration and exploitation activities, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

12. That Chapter 4 of Part 8 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to interest payments by certain deposit takers, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

13. That section 838 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to special portfolio investment accounts, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

14. That Part 8 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which deals with annual payments, charges and interest, and Schedule 29 to that Act, which lists the provisions referred to in sections 1052, 1053 and 1054 of that Act, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

15. That section 372W of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides capital allowances in relation to the construction or refurbishment of certain commercial premises within the site of a qualifying park and ride facility, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

16. That Part 11 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to capital allowances and expenses for certain road vehicles, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

17. That sections 405 and 406 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which restrict the use of certain capital allowances, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

18. That section 420 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for group relief in respect of certain trading losses, capital allowances, expenses of management and charges on income, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

19. That provision be made in the Act giving effect to this resolution to provide for a new taxation regime for the taxation of policyholders of certain foreign life assurance companies.

20. That section 730A of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of certain life assurance companies, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

21. That Chapter 5 of Part 26 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of policyholders of certain life assurance policies, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

22. That provision be made in the Act giving effect to this resolution for a new taxation regime for the taxation of persons who hold an interest in certain offshore funds.

23. That Chapter 1A of Part 27 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the taxation of investment undertakings, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

24. That, in consequence of the alignment, with effect from 1 January 2002, of the year of assessment for income tax and capital gains tax purposes with the calendar year, and the consequent operation of a short transitional "year" of assessment covering the period from 6 April 2001 to 31 December 2001, 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.

25. That provision be made in the Act giving effect to this resolution to alter the date on which tax (including preliminary tax) payable by a chargeable person (within the meaning of Part 41 of the Taxes Consolidation Act, 1997 (No. 39 of 1997)) for a chargeable period (within the meaning of that Part of that Act) shall, in certain circumstances, be due and payable.

26. That section 407 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which restricts capital allowances for a qualifying shipping trade, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

27. That section 222 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which exempts from corporation tax certain distributions received by an Irish resident company from a non-resident subsidiary, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

28. That section 847 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which pro vides for exemption from corporation tax for certain foreign branch profits, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

29. That provision be made in the Act giving effect to this resolution to provide for the capital gains tax treatment of the disposal of land from a parent to a child for the purposes of enabling the child to construct a principal private residence.

30. That provision be made in the Act giving effect to this resolution for the imposition of liability to excise duty in accordance with the provisions of the Act, on a warehousekeeper where discharge of liability has not occurred on excisable products released from a tax warehouse for delivery to another member state of the European Community, or a registered or non-registered trader in respect of excisable products received under a duty suspension arrangement or on a tax representative in respect of excisable products delivered to the State.

31. That provision be made in the Act giving effect to this resolution for the charging of excise duty in accordance with the provisions of that Act, on excisable products released for consumption in another member state of the European Community and imported into the State, and for the payment of such duty.

32. That provision be made in the Act giving effect to this resolution for the charging of excise duty in accordance with the provisions of that Act, on certain products, ingredients, materials, articles and equipment in discharge of a liability to excise duty on excisable products.

33. That provision be made in the Act giving effect to this resolution for the liability to excise duty in accordance with the provisions of that Act, on excisable products released for consumption and where unallowable losses or shortages occur.

34. That provision be made in the Act giving effect to this resolution for the charging of excise in accordance with the provisions of that Act, on hydrocarbon oil with a sulphur content greater than 50 milligrammes per kilogramme.

35. That provision be made in the Act giving effect to this resolution for the charging of mineral oil tax in accordance with the provisions of that Act, on heavy oil used as a propellant with a sulphur content greater than 50 milligrammes per kilogramme.

36. That provision be made in the Act giving effect to this resolution for amending the qualifying criteria for tax relief for mineral oil used in passenger road services, in accordance with the provisions of that Act, for the purposes of confining the relief provided for in section 99 of the Finance Act, 1999, to eligible services and to a vehicle only while it is being used to provide such services.

37. That provision be made in the Act giving effect to this resolution for amending the definitions of "category B vehicle" and "crew cab" contained in section 130 of the Finance Act, 1992, so as to change the criteria by which certain vehicles are classified for vehicle registration tax purposes and by reference to which classification the duty of excise imposed by section 132 of the Finance Act, 1992, will be calculated and charged thereon.

38. That provision be made in the 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.

39. That provision be made in the Act giving effect to this resolution for imposing a charge in accordance with the provisions of that Act on the intoxicating liquor licence granted by the Commissioners to the National Concert Hall Company.

40. That provision be made in the Act giving effect to this resolution for imposing a charge in accordance with the provisions of that Act on firearms certificates granted to non-resident persons.

41. That provision be made in the Act giving effect to this resolution amending the definition of "amusement machine" contained in section 120 of the Finance Act, 1992 (No. 9 of 1992), so as to change the criteria by which certain machines are classified for amusement machine licence duty purposes and by reference to which classification the duty of excise imposed by section 123 of the Finance Act, 1992, will be charged thereon.

42. That provision be made in the Act giving effect to this resolution amending the definition of "gaming machine" contained in section 43 of the Finance Act, 1975 (No. 6 of 1975), so as to change the criteria by which certain machines are classified for gaming machine licence duty purposes and by reference to which classification the duty of excise imposed by section 43(6) of the Finance Act, 1975, will be charged thereon.

43. That provision be made in the Act giving effect to this resolution so that:

(a)a person in the State is a taxable person in respect of the receipt of certain services for non-business purposes from a supplier in another member state and is liable to pay the tax chargeable on the supply of those services,

(b)when a person who is not entitled to deduct all the value-added tax incurred on his or her purchases and acquisitions acquires immovable goods without payment of value-added tax because of the transfer of business rules that person shall reduce the value-added tax deductible by him or her by an amount determined in accordance with a formula specified in that Act,

(c)a person who accounts for value-added tax on an annual basis may be required to pay the value-added tax due by monthly direct debits,

(d)the time limit within which a person, who is served notice of an estimate of tax payable by him or her in respect of a period, may claim that he or she is not a taxable person is reduced to 14 days,

(e)value-added tax is chargeable in respect of the supply of research services,

(f)value-added tax is chargeable in respect of the supply of the service of allowing a person use a toll road or a toll bridge.

44. That provision be made in the Act giving effect to this resolution for amending section 79 of the Stamp Duties Consolidation Act, 1999 (No. 31 of 1999), in the manner and to the extent specified in the Act so giving effect.

45. That provision be made in the Act giving effect to this resolution for amending section 86 of the Stamp Duties Consolidation Act, 1999 (No. 31 of 1999), in the manner and to the extent specified in the Act so giving effect.

46. That provision be made in the Act giving effect to this resolution for amending section 57 of the Capital Acquisitions Tax Act, 1976 (No. 8 of 1976), in the manner and to the extent specified in the Act so giving effect.

47. That provision be made in the Act giving effect to this resolution for amending section 85 of the Finance Act, 1989 (No. 10 of 1989), in the manner and to the extent specified in the Act so giving effect.

48. That provision be made in the Act giving effect to this resolution for amending section 133 of the Finance Act, 1993 (No. 13 of 1993), in the manner and to the extent specified in the Act so giving effect.

49. That Chapter 4 of Part 42 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the collection and recovery of income tax on certain emoluments (PAYE system), be amended in the manner and to the extent specified in the Act giving effect to this resolution.

50. That sections 37, 607 and 838 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relate to securities of certain State-owned companies, Government and other securities and special portfolio investment accounts respectively, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

51. That section 372T of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the non-application of relief in certain cases under sections 372M and 372N of that Act in respect of expenditure incurred in qualifying rural areas, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

52. That section 372K of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which provides for the non-application of relief in certain cases under sections 372C and 372D of that Act in respect of expenditure incurred in qualifying areas, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

53. That provision be made in the Act giving effect to the resolution to provide for the restriction on the offset of losses and charges incurred by a company in an accounting period in an activity the income of which is taxable at the 10 per cent or standard corporation tax rate against profits of the accounting period or the previous accounting period or against profits of a fellow group company in a corresponding accounting period.

54. That section 274 of the Taxes Consolidation Act, 1997 (No. 39 of 1997), which relates to balancing allowances and balancing charges in respect of industrial buildings or structures, be amended in the manner and to the extent specified in the Act giving effect to this resolution.

Question put and agreed to.