SEANAD ÉIREANN AN BILLE AIRGEADAIS 2016 FINANCE BILL 2016 MOLTAÍ COISTE COMMITTEE RECOMMENDATIONS

Transcription

1 SEANAD ÉIREANN AN BILLE AIRGEADAIS 2016 FINANCE BILL 2016 MOLTAÍ COISTE COMMITTEE RECOMMENDATIONS [No. 83b of 2016] [7 December, 2016]

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3 SEANAD ÉIREANN AN BILLE AIRGEADAIS, 2016 AN COISTE FINANCE BILL 2016 COMMITTEE STAGE Moltaí Recommendations SECTION 2 SECTION 9 1. In page 22, between lines 42 and 43, to insert the following: (26) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the effectiveness of the Activate Capital development finance for residential redevelopment schemes under the Ireland Strategic Investment Fund and set out the options for a sustainable finance model for the construction of new residential homes... SECTION 10 SECTION 11 SECTION In page 38, between lines 5 and 6, to insert the following: (3) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on application of tax liabilities on an individual within [No. 83b of 2016] [7 December, 2016]

4 [SECTION 18] a farm partnership deemed under tax law to have ceased farming.. SECTION In page 40, between lines 3 and 4, to insert the following: (3) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the breaking of the link between the rate of DIRT and the rate of exit tax from life assurance policies, including the impact of this on life assurance savers.. SECTION In page 40, between lines 5 and 6, to insert the following: (a) in subsection (1) in the definition of qualifying asset by the insertion of the following paragraph after paragraph (c): (d) and for which the security, in relation to paragraphs (a) and (b) is not located in the State, and for which the assets, in relation to paragraph (c), are not located in the State In page 40, between lines 6 and 7, to insert the following: (i) inserting the following new paragraph after paragraph (a): (b) which does not derive income from assets which have their underlying security, value or income from land, property or other commercial assets in the State,,. 6. In page 45, between lines 30 and 31, to insert the following: SECTION In page 47, to delete lines 32 to 34. (iv) for which there may be no shared ownership, or control, in the State or internationally, between the qualifying company and the recipient of any interest or other distribution payable.. SECTION In page 71, between lines 33 and 34, to insert the following: (3) The Minister shall, within three months of the passing of this Act, prepare and lay before the Houses of the Oireachtas a report on the offset of losses, carried forward from preceding accounting periods, for which relief is available in succeeding 2

5 [SECTION 25] accounting periods, setting out the costs of tax foregone and the merits of any alternative to the current treatment of those losses.. 9. In page 71, between lines 33 and 34, to insert the following: (3) The Minister shall, within eight months of the passing of this Act, prepare and lay before the Houses of the Oireachtas a report in respect of the effective tax rate paid by companies in Ireland with recommendations to increase that effective tax rate including a consideration of the introduction of minimal effective tax rates.. SECTION In page 83, to delete line 16 and substitute the following: Cigarettes and heated cigarettes Rate of tax at. SECTION In page 93, between lines 31 and 32, to insert the following: Heated cigarettes 45. Chapter 3, section 71 of the Finance Act 2005 is amended in subsection (1) by inserting: SECTION In page 93, after line 35, to insert the following: heated cigarettes means rolls of tobacco that can be heated and/or smoked when, by simple non-industrial handling, are inserted into a battery or electronic device;.. Value-Added Tax in respect of charities 46. The Minister shall, within three months of the passing of this Act, prepare and lay before Dáil Éireann a report on the introduction in 2017 of a capped Value-Added Tax compensation scheme for charities with reimbursement to commence in SECTION 53 3

6 [SECTION 56] SECTION In page 102, between lines 8 and 9, to insert the following: Pension rights for same sex couples 56. Where a pension scheme provides that members must have been married or engaged in civil partnership before the age of 60 in order for their partner or spouse to qualify for death benefits under the said scheme, an exemption shall be given to same-sex couples for whom such action was impossible before the entering into force of the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 in the case of civil partnership, and the Thirty-fourth Amendment of the Constitution (Marriage Equality) Act 2015 in the case of marriage.. SECTION In page 109, between lines 17 and 18, to insert the following: Senator David Norris. 59. The Minister shall, within four months of the passing of this Act, prepare and lay before the Houses of the Oireachtas a review in respect of the current policy of marginal rate private pensions tax relief and how it relates to national pensions strategy for Ireland including stated national goals on closing the gender pension gap and increasing pension coverage for those on lower to median incomes.. NEW SECTION 15. In page 110, after line 17, to insert the following: Betting duty and remote licence for racecourse bookmakers 60. The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the treatment of racecourse bookmakers under the Betting Acts and the application of remote licences and the betting duty on racecourse bookmakers.. 4