The Finance Bill was published on 8th February and contained 76 measures not announced in Budget 2012. A list of these measures is appended. The issue of costings of measures included in the Bill, including those which were not announced in the Budget, was addressed by my colleague, Minister of State Deputy Brian Hayes, during the Committee Stage of the Bill. As indicated by the Minister of State, the Budget Book published on Budget Day contained a full assessment of the yield and cost on each of the measures proposed. As further indicated by the Minister of State, there is no substantial change in the Finance Bill compared with my Budget Statement in December. There is no major new expenditure item. Indeed, many of the individual proposals contained in the Bill, which were not specifically referred to in the Budget, are technical in nature.
Accordingly I do not consider that it would be an appropriate use of time to provide the detailed breakdown the Deputy has sought in relation to each of these 76 measures. However if he would care to highlight measures in the Bill which are of particular interest to him, I will see that the information relating to these is provided.
MEASURES INCLUDED IN FINANCE BILL 2012 BUT NOT ANNOUNCED IN BUDGET 2012
Income Tax
Section 117 — Civil Partnership
Section 10 — Revenue Job Assist
Section 4 — Share-based Remuneration
Section 11 — Tax Relief on Third Level Fees
Section 115 — Artists Exemption
Section 22 — Significant Buildings And Gardens
Section 35 — Deposit Interest Retention Tax (DIRT) — Technical amendments
Section 35 — Foreign Deposit Interest — Tax Rate Anomalies
Section 37 — Encashment Tax Modernisation
Section 6 — Health Insurance Age Related Income Tax Credit
Retirement Relief for Sportspersons
Section 5 — Relief On Retirement For Certain Income Of Certain Sportspersons
Stock Relief
Section 19 — Additional Qualifying Course for Stock Relief for Young Trained Farmers
Section 23 and Accelerated Capital Allowances
Section 15 — High Earners Interaction With Section 23 and Accelerated Capital Allowances
Exit Tax
Section 28 — Life Assurance Exemption for Pension Funds and PRSAs
Section 29 — Collective investment undertakings — rate alignment
EU Savings Directive
Section 108 — Ending of Reporting Exemption for Certain Interest Payments
Capital Gains Tax
Section 61 — Grangegorman Development Agency — Exemption
Section 59 and 61 — Exemptions for Certain State Bodies
Section 60 — Exemption for Compensation Payments to Turf Cutters
Section 56 — Contingent Liabilities
Section 63 — Anti-avoidance — offshore trusts
Section 55 — Anti-avoidance — bearer shares
Capital Acquisitions Tax
Section 95 — Group Tax-Free Thresholds
Section 102 — CAT pay and file date
Section 100 — Agricultural relief — residence condition
Section 100 — Anti-avoidance — agricultural relief
Section 97 and 98 — Anti-avoidance — foundations, general powers of appointment, administration of an estate
Section 18, 96 and 101 — Modernisation — technical changes
Section 99 — Exemptions for sales of heritage property to State bodies
Stamp Duty
Section 93 — Self-assessment and modernisation
Section 87 — Relief for company mergers
Section 86 and 91 — Technical changes
Section 92 — Young Trained Farmer relief
Section 90 — Grangegorman Development Agency — exemption
Section 91 — Health Insurance Levy
Section 91 — Non-life insurance levy
Pension Taxation
Section 17 — Impacts of the Finance Act 2011 reduction in the maximum allowable pension fund for tax purposes (the Standard Fund Threshold or SFT)
Corporation Tax
Section 26 — R&D Tax Credit Scheme
Section 43 — Tax treatment of transactions involving carbon emission allowances under the EU Emissions Trading Scheme (ETS)
Section 52 — Tax treatment of certain foreign sourced dividends
Section 45 — Tax exemption for certain State-sponsored non-commercial bodies
Sections 42, 53, 47 and 50 — Other Corporation Tax changes
Tax Administration
Section 20 — Professional Services Withholding Tax
Section 21 — Relevant Contracts Tax
Revenue Powers
Section 23 — Relief for investment in films
Section 77 and 104 — Obligation to keep certain records
Section 105 — Taxpayer confidentiality
Section 107 — Returns of payment transactions by payment settlers
Section 106 — Returns of certain information by investment undertakings
Section 109 — Penalty for deliberately or carelessly making incorrect returns, Etc.
Section 110 — Power of Collector-General to require certain persons to provide return of property
Section 111 — Security for certain taxes
Section 113 and Schedule 4 — Modernisation of Direct Taxes Assessing Rules including rules for Self Assessment
Section 114 and Schedule 5 — Miscellaneous amendments relating to administration
Section 116 — Provision of electronic financial statements
Section 118 — Gifts to the State by certain donors
Section 112 — Countering serious tax criminality
International Financial Services
Section 41 — Cash Pooling
Section 51 — Unilateral Credit Relief for inbound leasing royalties
Section 38 — Technical Exposure to Irish tax liability on interest payments to non-residents
Section 40 and 89 — Section 110 measures — Green IFSC Initiative
Section 39 — Taxation of Certain Short Term Leases
Section 46 — Extension of Group Relief for Losses to companies with non-EU/EEA Parent
Section 36 — Islamic Finance
Section 30 — Non-Resident Investors in Irish Funds
Section 31 — Exchange Traded Funds
Section 32, 33 and 34 — UCITS Undertakings for Collective Investment in Transferable Securities IV Issues — Cross-Border Mergers and Reconstructions of Investment Funds
Section 88 — Extension of Stamp Duty reliefs to accommodate a range of financial transactions
Section 48 and 49 — Relief for excess foreign tax on royalties by reduction of other royalty income
Value-Added Tax
Section 82 — Definition of Bread for VAT Purposes
Section 73, 79, 80 and 81 — Provision for Recovery and Penalties in relation to VAT Refund Orders
Section 74 and 78 — Minor Changes in relation to VAT on Property
Section 76 — Removal of VAT Deductibility on Conference Accommodation where booked under the Travel Agent Margin Scheme
Section 73 — Strengthening VAT Ministerial Orders
Excise
Section 66, 69 and 70 — Carbon Tax
Section 66 — Amendment of Chapter 1 of Part 2 of Finance Act 1999.