Finance Bill 2013: Financial Resolutions

I move the following Financial Resolutions:

1. THAT section 531AM of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the charge to universal social charge, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

2. THAT section 531AN of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the rate of charge to universal social charge, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

3. THAT section 126 of the Taxes Consolidation Act 1997 (No. 39 of 1997), as it relates to the tax treatment of certain benefits payable under Social Welfare Acts, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

4. THAT section 473A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for relief for fees paid for third level education, etc., be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

5. THAT Chapter 2 of Part 33 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for measures relating to anti-avoidance, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for measures relating to the tax treatment of loans from employee benefit schemes.

6. THAT section 70 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relates to the basis of assessment of income or profits chargeable to income tax under Case III of Schedule D, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

7. THAT Chapters 1, 2, and 2A of Part 30 of the Taxes Consolidation Act 1997 (No. 39 of 1997) which relate, respectively, to occupational pension schemes, retirement annuities and personal retirement savings accounts, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

8. THAT section 848A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relates to the scheme of tax relief for donations to approved bodies (including certain charitable and educational bodies), be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

9. THAT section 396B of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides relief for certain trading losses on a value basis, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

10. THAT Part 12 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relates to loss relief, treatment of certain losses and capital allowances, and group relief, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

11. THAT section 29 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which sets out the persons who are chargeable to capital gains tax and the extent to which they are chargeable to that tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

12. THAT Chapters 2 and 4 of Part 5 of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for provisions applicable to particular instruments in relation to the chargeability of such instruments to stamp duty, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

13. THAT section 125A of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for a stamp duty in the form of a levy on authorised insurers (within the meaning of that section), be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

14. THAT Part 41A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the assessing rules for direct taxes, and certain other provisions of that Act in so far as they relate to the assessing rules provided for in the said Part 41A, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

15. THAT Chapter 1 of Part 18 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the rules governing the deduction and administration of professional services withholding tax, and Schedule 13 to that Act, which provides for a list of the accountable persons (within the meaning of the said Chapter 1) that are required to operate professional services withholding tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

16. THAT Chapters 2 and 3 of Part 33 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relate, respectively, to anti-avoidance measures and mandatory disclosure of certain transactions, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for the inclusion of universal social charge (within the meaning of that Act) for the purposes of the said provisions of that Act.

17. THAT Chapter 6 of Part 4 and Chapter 1 of Part 12 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relate, respectively, to the computational rules for the Schedule D charge and loss relief, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for a charge to tax to apply on the release of debts in certain trades and a restriction on the use of loss relief to apply in certain cases.

18. THAT section 481 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for tax relief for investment in films, be amended in the manner an to the extent specified in the Act giving effect to this Resolution.

19. 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 reduction in the tax relief available under section 1003A of the Taxes Consolidation Act 1997, in respect of the donation of heritage property, from 80 per cent of the market value (within the meaning of the said section 1003A) to 50 per cent of the market value.

20. THAT section 79C of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for rules for the taxation of certain foreign currency bank deposits, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

21. THAT section 246 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for rules for the deduction of withholding tax from certain payments of yearly interest, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

22. THAT section 599 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which grants relief from capital gains tax in respect of the disposal of qualifying business or agricultural assets within the family, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

23. THAT Chapter 1 of Part 2 of the Finance Act 2001 (No. 7 of 2001), which provides, inter alia, for the repayment of overpaid excise duty, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

24. THAT section 78 of the Finance Act 2010 (No. 5 of 2010) and Schedule 1 to that Act, which provide for the charging and rates of solid fuel carbon tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

25. THAT section 43 of the Value-Added Tax Consolidation Act 2010 (No. 31 of 2010), which relates to vouchers, etc., be amended, in the manner and to the extent specified in the Act giving effect to this Resolution, to provide that vouchers, etc. which are sold to other business persons for re-sale purposes are taxable on the sale of the voucher etc. but only where such sales are made within the State.

26. THAT section 59 of the Value-Added Tax Consolidation Act 2010 (No. 31 of 2010), which relates to deduction for tax borne or paid, be amended, in the manner and to the extent specified in the Act giving effect to this Resolution, to clarify the definition of ‘qualifying activities’ as it relates to financial services.

27. THAT section 64 of the Value-Added Tax Consolidation Act 2010 (No. 31 of 2010), which relates to the capital goods scheme, be amended, in the manner and to the extent specified in the Act giving effect to this Resolution, to provide that the obligations of a capital goods owner be transferred to the receiver during a receivership period and that these obligations revert at the end of that period, and that liability for tax due or entitlement to deductibility be apportioned where the receivership period commences or ends during a capital goods scheme interval.

28. THAT section 51 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which provides for the payment of tax and interest on tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

29. THAT section 57 of the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003), which provides for the overpayment of tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

30. THAT -

(a) section 569 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the manner in which the assets of an insolvent person are treated for capital gains tax purposes, and

(b) sections 65 and 99 of the Personal Insolvency Act 2012 (No. 44 of 2012), which provide, respectively, for certain mandatory requirements relating to a Debt Settlement Arrangement and a Personal Insolvency Arrangement (both within the meaning of that Act),

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

31. THAT section 71 of the Taxes Consolidation Act 1997 (No. 39 of 1997), as it relates to foreign securities and possessions, be amended for the year of assessment 2013 and each subsequent year of assessment in the manner and to the extent specified in the Act giving effect to this Resolution.

32. THAT section 88A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for a double deduction in respect of certain emoluments, and section 472A of that Act, which provides for relief for the long-term unemployed, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

33. THAT Chapters 3 and 4 of Part 5 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which relate to benefit in kind, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for changes in relation to benefit in kind.

34. THAT section 201 of and Schedule 3 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 limits of relief applicable to ex-gratia payments made by employers.

35. THAT section 470 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 to provide for the granting of relief for health insurance premiums.

36. THAT Part 25A be inserted into the Taxes Consolidation Act 1997 (No. 39 of 1997), and the Principal Act be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

37. THAT Part 27 of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the principal provisions relating to Unit Trusts and Offshore Funds, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

38. THAT Part 4 of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides for the making of assessments and appeals against assessments, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

39. (a) THAT Part 44A of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the tax treatment of civil partnerships, be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for changes relating to maintenance arrangements for civil partners.

(b) THAT the Capital Acquisitions Tax Consolidation Act 2003 (No. 1 of 2003) be amended in the manner and to the extent specified in the Act giving effect to this Resolution to provide for changes in relation to the application of charging provisions for civil partners and connected persons.

40. THAT Schedule 24A to the Taxes Consolidation Act 1997 (No. 39 of 1997), which concerns arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

41. THAT section 127 of the Stamp Duties Consolidation Act 1999 (No. 31 of 1999), which provides terms on which instruments not duly stamped may be received in evidence, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

42. THAT in the Value-Added Tax Consolidation Act 2010 (No. 31 of 2010) –

(a) section 28, which provides for special rules in relation to supplies of services, be amended, in the manner and to the extent specified in the Act giving effect to this Resolution, to provide that where a receiver or liquidator supplies services, in the course of carrying on or winding up the business of an accountable person, those services are deemed to be supplied by the accountable person and where the receiver or liquidator opts to tax a new letting of a property that option to tax is deemed to be made by the property owner,

(b) section 76, which provides for returns and remittances, be amended, in the manner and to the extent specified in the Act giving effect to this Resolution, to provide that a receiver or liquidator must remit tax due in relation to the supply of services by him or her and in relation to liabilities arising under the capital goods scheme, and

(c) section 95, which provides for transitional measures for supplies of immovable goods, be amended, in the manner and to the extent specified in the Act giving effect to this Resolution, to provide that where a receiver, or other person exercising a power, takes possession of a property where deductibility was claimed on the purchase or development of that property and makes an exempt letting of that property, that receiver or other person must calculate a deductibility adjustment in accordance with a formula set out and remit any amount due as if it were tax due for the taxable period in which the letting occurred.

Question put and agreed to.