Finance Bill 2006: Financial Resolutions.

I move the following Resolutions:

1. THAT section 848A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which is concerned with the scheme of tax relief for donations to approved bodies, be amended in the manner and to the extent specified in the Act giving rise to this Resolution.

2. THAT Chapter 3 of Part 7 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which is concerned with income tax and corporation tax exemptions, be amended in the manner and to the extent specified in the Act giving rise to this Resolution.

3. THAT Chapter 5 of Part 26 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the taxation treatment of policyholders of life assurance companies in respect of new basis business, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

4. THAT Chapter 6 of Part 26 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which deals with the taxation and returns in respect of life assurance policies written by certain foreign life assurance companies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

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

6. THAT Chapter 4 of Part 27 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which deals with the taxation and returns in respect of certain offshore funds, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

7. THAT section 713 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the tax charge on life assurance companies in respect of investment income reserved for policyholders, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

8. THAT section 141 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the tax treatment of distributions out of income from patent royalties, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

9. 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 to provide for the transposition into Irish law of EU Council Directive No. 2005/19/EC which amends the tax treatment of company mergers.

10. 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 to provide for the tax treatment to be applied to companies that prepare their accounts on the basis of International Financial Reporting Standards or Irish Generally Accepted Accounting Standards that correspond with those standards.

11. THAT section 626B of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides an exemption from capital gains tax in respect of certain disposals by a parent company of shares in a subsidiary company, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

12. THAT section 247 of the Taxes Consolidation Act 1997 (No. 39 of 1997) which provides relief for companies in respect of interest on loans applied in acquiring an interest in other companies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

13. THAT section 766 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a tax credit for research and development expenditure, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

14. THAT Part 24A of and Schedule 18B to 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 to provide for the tax treatment to be applied to companies that compute their profits for the purposes of corporation tax under the tonnage tax method.

15. THAT the taxation treatment relating to the leasing of machinery and plant provided for in Chapter 4 of Part 12 of 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.

16. That section 606 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides relief from capital gains tax on the disposal of certain works of art where, prior to the disposal, they were on loan to, and displayed in, an approved gallery or museum, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

17. THAT Schedule 15 to the Taxes Consolidation Act 1997 (No. 39 of 1997), which specifies a number of bodies that are exempt from capital gains tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

18. THAT Chapter 2 of Part 44 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides rules for the assessment and charge of capital gains tax on disposals of chargeable assets by married, separated or divorced persons, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

19. THAT section 6 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which defines what constitutes a taxable gift for the purposes of that Act, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

20. THAT section 11 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which defines what constitutes a taxable inheritance for the purposes of that Act, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

21. THAT Chapter 3 of Part 3 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which relates to the annual 1 per cent levy imposed on certain discretionary trusts, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

22. THAT Part 10 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which deals with agricultural relief, business relief and other miscellaneous reliefs, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

23. THAT Part 33 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which is concerned with anti-avoidance, be amended in the manner and to the extent specified in the Act giving rise to this Resolution.

24. 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 to clarify the mechanism for calculating the amount of credit, against Irish corporation tax, in respect of foreign tax suffered.

25. THAT section 477 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for relief from income tax in respect of local authority service charges, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

26. THAT Schedule 13 to the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the list of accountable persons for the purposes of the scheme of withholding tax on fees for professional services, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

27. THAT—

(a) section 97 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a deduction against rental income of interest on borrowed money employed in the purchase, improvement or repair of a rented residential premises, and

(b) section 372AM of that Act which relates to relief in respect of expenditure incurred on certain residential accommodation,

be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

28. THAT Chapter 11 of Part 10 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides relief for expenditure incurred on the construction, conversion and refurbishment of residential property, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

29. THAT Part 9 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the principal provisions relating to relief for capital expenditure, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

30. THAT section 268 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the various types of industrial buildings and structures for the purposes of Part 9 of that Act and associated matters, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

31. THAT Chapter 1 of Part 9 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for industrial building allowances, writing-down allowances, balancing allowances and balancing charges, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

32. THAT section 843A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a scheme of capital allowances for buildings and structures used for certain child care facilities, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

33. THAT section 434 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the rules to compute a surcharge on undistributed trading income of certain close companies, be amended in the manner and to the extent specified in subparagraph (l) of paragraph 1 of Schedule 2 to the Act giving effect to this Resolution.

34. THAT—

(a) section 8 of the Value-Added Tax Act 1972, which relates to taxable persons,

(b) section 10 of the Value-Added Tax Act 1972, which relates to the amount on which tax is chargeable, and

(c) section 11 of the Value-Added Tax Act 1972, which relates to rates of tax,

be each amended in the manner and to the extent specified in the Act giving effect to this Resolution.

35. THAT Part 30 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the tax treatment of retirement benefit schemes, retirement annuity contracts, purchased life annuities, personal retirement savings accounts, approved retirement funds and approved minimum retirement funds, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

36. 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 to provide for a limitation on the amount of certain tax reliefs that may be used in a year of assessment by certain high income individuals.

37. 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 to provide for the tax treatment of certain works in progress resulting from the application of new accounting rules.

38. THAT section 104 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which provides for the granting of a credit for capital gains tax that has been paid against capital acquisitions tax where both taxes are chargeable on the same property in connection with the same event, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

39. THAT section 94 of the Finance Act 1999 (No. 2 of 1999), which provides for the interpretation of terms used in mineral oil tax law, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

40. THAT section 75 of the Finance Act 2003 (No. 3 of 2003), which provides for the charging of alcohol products tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

41. THAT section 407 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the restriction on use of losses and capital allowances for qualifying shipping trades, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

42. THAT section 817 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which is concerned with schemes to avoid liability to tax under Schedule F, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

Question put and agreed to.