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Dáil Éireann díospóireacht -
Thursday, 7 May 1992

Vol. 419 No. 3

Finance and Taxation Acts: Motion.

I move:

That section 15 of the Finance Act, 1972 (No. 19 of 1972), which prescribes conditions for approval of retirement benefit schemes for the purposes of Chapter II of that Act, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 13 of the Finance Act, 1987 (No. 10 of 1987), which defines various terms for the purposes of Chapter III of Part I of that Act, and section 14 of the Finance Act, 1987, which sets out the meaning of accountable persons who are required, in accordance with the provisions of that Chapter, to deduct tax on making payments in respect of professional services by certain persons, 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 secure that relief shall not be given under section 34 of the Finance Act, 1974 (No. 27 of 1974), in respect of any interest paid on a loan applied on or after the 24th day of April, 1992, for a purpose specified in that section unless the loan is applied for bona fide commercial reasons and not as part of a scheme or arrangement the main purpose or one of the main purposes of which is the avoidance of tax.

That provision be made in the Act giving effect to this Resolution for the treatment as income for income tax purposes, in the manner and to the extent specified in that Act, of certain short term benefits payable under the Social Welfare Acts.

That section 36 of the Finance Act, 1977 (No. 18 of 1977), which provides for the construction of the term `child' for the purposes of the Tax Acts and the Capital Gains Tax Acts, be amended in the manner and to the extent provided for in the Act giving effect to this Resolution.

That Chapter I of Part XXXVI of the Income Tax Act, 1967 (No. 6 of 1967), which provides, in section 525 of that Chapter, for the taxation of the consideration given for certain restrictive convenants, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That the provisions of the Tax Acts, which provide for the exemption from tax of patent royalties and of distributions by companies out of such exempt patent royalties, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 46 of the Finance Act, 1986 (No. 13 of 1986), which restricts the right of limited partners in a limited partnership to set off losses and capital allowances arising out of the partnership trade against their other income, 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 prevent the application of—

(a) section 307 of the Income Tax Act, 1967 (No. 6 of 1967), and subsection (2) of section 16 of the Corporation Tax Act, 1976 (No. 7 of 1976), to any loss which would not have arisen but for the making of an allowance under sections 254 and 264 of the Income Tax Act, 1967 (No. 6 of 1967), and

(b) the proviso to subsection (1) of section 296 of the Income Tax Act, 1967 (No. 6 of 1967), and subsection (6) of section 14 of the Corporation Tax Act, 1976 (No. 7 of 1976), to an allowance under sections 254 and 264 of the Income Tax Act, 1967 (No. 6 of 1967).

That section 241 of the Income Tax Act, 1967 (No. 6 of 1967), which relates to wear and tear of machinery and plant, etc., be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 17 of the Finance Act, 1970 (No. 14 of 1970), which relates to tax deductions from payments to subcontractors in the construction industry, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 45 of the Finance Act, 1986 (No. 13 of 1986), which relates to double rent allowance as a deduction in computing trading income in an area designated under the Urban Renewal Scheme, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 18 of the Finance Act, 1988 (No. 12 of 1988), which relates to the payment of tax under self assessment, 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 amend in the manner and to the extent specified in that Act, the definition of "scientific research" under section 5 of the Finance Act, 1946 (No. 15 of 1946), as repealed and re-enacted in section 244 of the Income Tax Act, 1967 (No. 6 of 1967).

That section 84A of the Finance Act, 1989 (No. 10 of 1989), which limits the meaning of distribution for the purposes of the Corporation Tax Act, 1976 (No. 7 of 1976), be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 21 of the Finance Act, 1989 (No. 10 of 1989), which substituted a new section 84A in Part IX of the Corporation Tax Act, 1976 (No. 7 of 1976), 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—

(a) so as to amend section 464 of the Income Tax Act, 1967 (No. 6 of 1967), which provides for the issue of securities with exemption from tax in the manner and to the extent specified in the Act, and

(b) that, notwithstanding subsection (5) of section 16 or subsection (3) of section 18 of the Corporation Tax Act, 1976 (No. 7 of 1976), relief for losses arising from trading in Government Securities issued with the condition mentioned in section 464 of the Income Tax Act, 1967 (No. 6 of 1967), to a company carrying on a trade through a branch or agency shall not be set off against trading income or profits of accounting periods after the 31st day of January, 1992.

That Part III of the Corporation Tax Act, 1976 (No. 7 of 1976), which relates to special classes of companies, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That Part II and section 116A of the Corporation Tax Act, 1976 (No. 7 of 1976), be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 39 of the Finance Act, 1980 (No. 14 of 1980), which defines "goods", 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 remove on a phased basis the exemption from corporation tax of certain transactions of agricultural and fishery societies with effect from the 1st day of April, 1992.

That section 44 of the Finance Act, 1983 (No. 15 of 1983), which concerns group dividends and advance corporation 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—

(a) to disallow certain claims for relief by a company where a return of income for a chargeable period has not been submitted by the company on or before the specified return date, for the chargeable period,

(b) to disallow a claim for group relief where a return of income for the chargeable period has not been submitted by both the claimant company and the surrendering company on or before the specified return date for the chargeable period, and

(c) to disallow a claim by a company to set off against its corporation tax liability for any chargeable period advance corporation tax which has been surrendered to it by another company in the same group where the first-mentioned company has not submitted a return of income for the chargeable period on or before the specified date for the chargeable period.

That paragraph 6 of Schedule 2 to the Capital Gains Tax Act, 1975 (No. 20 of 1975), be amended in the manner and to the extent provided for in the Act giving effect to this Resolution.

That provision be made in the Act giving effect to this Resolution so as to secure, in the manner and to the extent specified in that Act, that—

(a) deductions, allowances and reliefs referable to petroleum activities, including losses on disposals of petroleum-related assets, should only be made or relieved against income arising from petroleum activities or petroleum profits, including gains from disposals of petroleum related assets,

(b) deductions, allowances and reliefs which are referable to activities other than petroleum activities or certain mining activities, including losses on disposals of assets other than petroleum-related assets, should not be made or relieved against income arising from petroleum activities, or petroleum profits, including gains from disposals of petroleum-related assets,

(c) relief in respect of interest and charges on income, referable to a petroleum trade and either paid by a person to a person connected with him or paid in respect of borrowings incurred on exploration activities, be restricted,

(d) the set-off of advance corporation tax against a company's liability to corporation tax be restricted where a company makes a distribution to a company associated with it and one of those companies is in receipt of petroleum profits, and

(e) petroleum be valued at market value where it is transferred by one person to another person otherwise than at arm's length or appropriated, by the person who won or otherwise acquired it, to refining or extraction activities.

That provision be made in the Act giving effect to this Resolution for imposing a duty of excise, in accordance with the provisions of that Act, on beer brewed in the State and on beer imported into the State.

That provision be made in the Act giving effect to this Resolution for imposing excise duty, payable by tax representatives, registered traders, non-registered traders or any other persons, on excisable products in accordance with the provisions of that Act.

That provision be made in the Act giving effect to this Resolution for imposing excise duty, payable by tax repproducts in accordance with the provisions of that Act on excisable products released from a tax warehouse in the State for delivery to another Member State.

That provision be made in the Act giving effect to this Resolution for imposing a duty of excise on licences, granted in accordance with the provisions of that Act, in respect of amusement machines.

That provision be made in the Act giving effect to this Resolution for increasing the excise duty chargeable on—

(a) the licences for the manufacture or sale of intoxicating liquor, and

(b) spirits retailers' on-licences,

in the manner and to the extent specified in that Act.

That provision be made in the Act giving effect to this Resolution for increasing the excise duty chargeable, under section 78 of the Finance Act, 1980 (No. 14 of 1980), on public dancing licences, occasional licences, special exemption orders and authorisations to a club, in accordance with the provisions of that Act.

That provision be made in the Act giving effect to this Resolution for—

(a) increasing the excise duty chargeable, under paragraph 12 (12) of the Imposition of Duties (No. 221) (Excise Duties) Order, 1975 (S.I. No. 307 of 1975), on licences taken out for the sale or delivery of hydrocarbon oil,

(b) increasing the excise duty chargeable, under section 42 (4) (a) of the Finance Act, 1976 (No. 16 of 1976), on licences taken out for the sale or delivery of motor vehicle gas, and

(c) increasing the excise duty chargeable, under section 45 (3) (b) of the Finance Act, 1989 (No. 10 of 1989), on licences taken out for the sale or delivery of hydrocarbon light oil,

in accordance with the provisions of that Act.

That provision be made in the Act giving effect to this Resolution for increasing the excise duty chargeable on—

(a) the registration of firearms dealers,

(b) firearm certificates,

(c) gaming licences,

(d) gaming machine licences, and

(e) other licences, permits or certificates,

in the manner and to the extent specified in that Act.

That provision be made in the Act giving effect to this Resolution for increasing the excise duty chargeable, under section 48 (2) of the Finance Act, 1989 (No. 10 of 1989), on a certificate of registration of a club in accordance with the provisions of that Act.

That provision be made in the Act giving effect to this Resolution so that—

(a) the intra-Community acquisition of goods be subjected to value-added tax,

(b) the supply of goods, in certain circumstances, by persons not established in the State to persons in the State who are not taxable persons, be subjected to value-added tax,

(c) the supply of intra-Community transport services and related ancillary services to certain persons be subjected to value-added tax at the rate of 21 per cent.,

(d) the supply of agricultural produce and agricultural services by a farmer whose turnover from the supply of certain agricultural services exceeds £15,000 per annum be subjected to value-added tax,

(e) the licensees of certain premises in which dances are held be liable to value-added tax in respect of such dances,

(f) certain authorisations issued to taxable persons in respect of the use of moneys received basis of accounting for value-added tax shall be cancelled,

(g) a refund of value-added tax due under the Value-Added Tax Act, 1972, or under any regulations made thereunder may be refused on the grounds that it would unjustly enrich the claimant,

(h) a person who acts on behalf of a taxable person in respect of supplies of goods or services or who allows such supplies to be made on land owned or occupied by him may be deemed to have made such supplies in the course or furtherance of business and that he shall be liable to value-added tax in respect of such supplies,

(i) the supply of bottled water and certain other beverages liable to value-added tax at the rate of zero per cent. be subjected to value-added tax at the rate of 21 per cent.,

(j) the supply of frozen desserts and frozen yoghurts, uncooked confectionery products and certain snack products liable to value-added tax at the rate of zero per cent. be subjected to value-added tax at the rate of 21 per cent., and

(k) the provision of facilities for taking part in sporting activities be subjected to value-added tax at the rate of 12.5 per cent.

That provision be made in the Act giving effect to this Resolution for—

(a) charging stamp duty, in accordance with the provisions of that Act, at the rates specified in that Act, on statements of certain amounts required by that Act to be delivered to the Revenue Commissioners by banks in respect of the bank levy and by banks and building societies in respect of cash cards, and

(b) imposing, in accordance with the provisions of that Act, a penalty in respect of non-compliance with such of those provisions as relate to the stamp duty.

That provision be made in the Act giving effect to this Resolution in respect of stamp duties for—

(a) charging duty on the conveyance or transfer on sale of a policy of insurance or a policy of life assurance,

(b) incorporating the provisions of the Adoption Acts, 1952 to 1991,

(c) repealing the exemption from duty on certain transfers of any stocks or marketable securities, and

(d) clarifying the position regarding spouses,

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

That, in the Act giving effect to this Resolution, section 100 (1) of the Finance Act, 1983, which defines the market value limit, be amended, with effect on and from the 5th day of April, 1992, by the substitution of "£90,000" for "£65,000" and of "1992" for "1983".

That, in the Act giving effect to this Resolution, section 101 (2) of the Finance Act, 1983, which defines the income exemption limit, be amended, with effect on and from the 5th day of April, 1992, by the substitution of "£27,500" for "£20,000" and of "1992" for "1983".

That the interpretation of the word "child" in section 102 (4) of the Finance Act, 1983, be amended in the manner specified in the Act giving effect to this Resolution.

That the interpretation of the word `child' in section 2 (1) of the Capital Acquisitions Tax Act, 1976, be amended in the manner specified in the Act giving effect to this Resolution.

That section 106 of the Finance Act, 1984, which imposes a three per cent. inheritance tax charge on acquisitions by certain discretionary trusts, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 102 of the Finance Act, 1986, which imposes an annual one per cent. inheritance tax charge on acquisitions by certain discretionary trusts, 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 application, in the circumstances and the manner specified in the Act, of the surcharge imposed under section 48 of the Finance Act, 1986 (No. 13 of 1986), where a person fails to deliver to the inspector of taxes a return of income on or before a specified date in relation to that return of income.

That section 9 of the Capital Gains Tax Act, 1975 (No. 20 of 1975), which provides that, in certain situations, a person will be deemed to acquire or dispose of an asset for its market value, irrespective of the actual price given or received for the asset, be amended in the manner and to the extent specified in the Act giving effect to this Resolution.

That section 47 of the Capital Gains Tax Act (No. 20 of 1975), which provides for the capital gains tax treatment of options, 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 duty of excise on the registration in a register, established and maintained by the Revenue Commissioners under that Act, of motor vehicles which are required by that Act to be so registered and on the declaration required by that Act to be made to the Revenue Commissioners for the purposes of the entry in that register of certain further particulars in respect of certain vehicles previously so registered.

That provision be made in the Act giving effect to this Resolution that the Voluntary Health Insurance Board shall pay a levy of £3,000,000 into the Central Fund on or before the 30th day of June, 1992, in respect of the year 1992.

Question put and agreed to.
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