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IMEACHTAÍ AN CHOISTE SPEISIALTA.PROCEEDINGS OF THE SPECIAL COMMITTEE.Dé Céadaoin, 25 Feabhra, 1976.Wednesday, 25th February, 1976.1. Chruinnigh an Coiste ar 11 a.m. 2. Comhaltaí i Láthair. Bhí na comhaltaí seo a leanas i láthair:— An Teachta Seán Easmann (sa Chathaoir), An tAire Airgeadais, na Teachtaí Pádraig Béalatún, Brugha,* Éamonn Ó Coileáin, Ó Crualaoich, Muiris Dockrell, Tomás Mac Giolla Phádraig (Baile Átha Cliath Láir),* Ó hEochaidh, Ó Cinnfhaolaidh, Ó Nuanáin, Ó Máille, agus Mac Páidín. 3. An Bille a Bhreithniú. D’athchrom an Coiste ar an mBille a bhreithniú. (i) Aontaíodh ailt 69 agus 70. (ii) Alt 71. Cuireadh an Cheist “Go bhfanfaidh an t-alt mar Chuid den Bhille”: rinne an Coiste vótáil: Tá, 5; Níl, 3. Tá:—An tAire Airgeadais, na Teachtaí Pádraig Béalatún, Éamonn Ó Coileáin, Muiris Dockrell agus Easmann. Níl:—Na Teachtaí Tomás Mac Giolla Phádraig (Baile Átha Cliath Láir), Ó hEochaidh agus Ó Máille. Faisnéiseadh dá réir sin go rabhthas tar éis glacadh leis an gCeist. (iii) Aontaíodh ailt 72 go 76 go huile. (iv) Alt nua. Tairgeadh leasú (An tAire Airgeadais): “In page 68, before section 77, to insert a new section as follows: ‘77.—Where charges on income, which are payable out of the income of a trade consisting partly of exempted trading operations and partly of other trading operations, are paid in an accounting period by a company there shall be treated as paid out of profits brought into charge to corporation tax only the portion of the charges so payable which bears to the total amount thereof the same proportion as the amount of the income of the trade actually charged to tax bears to the amount of such income which would have been charged to tax if this Part had not been enacted.’.” Cuireadh agus aontaíodh an Cheist:—“Go gcuirfear an t-alt nua isteach ansin.” (v) Scriosadh alt 77. (vi) Aontaíodh alt 78. (vii) Alt 79. Tairgeadh leasú (An tAire Airgeadais): “In page 73, in subsection (6), lines 21 and 22, to delete ‘applies in respect of the distribution or’.” Aontaíodh an leasú. Tairgeadh leasú (An tAire Airgeadais): “In page 73, in subsection (6), line 28, after ‘income tax’ to insert ‘for the year of assessment in which the winding up or dissolution occurs’.” Aontaíodh an leasú. Tairgeadh leasú (An tAire Airgeadais): “In page 74, after line 38, to insert a new subsection as follows: ‘(8) Any amount on which by virtue of this section income tax is charged on a company by an assessment under Case IV of Schedule D shall not be regarded as income of the company for any purpose of the Tax Acts’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (viii) Aontaíodh ailt 80 agus 81. (ix) Alt 82. Tairgeadh leasú (An tAire Airgeadais): “In page 76, subsection (5), line 16, to delete ‘subsection (6)’ and to substitute ‘subsection (7)’.” Aontaíodh an leasú. Aontaíodh an t-alt mar a leasaíodh. (x) Aontaíodh ailt 83 go 89 go huile. (xi) Alt 90. Tairgeadh leasú (An tAire Airgeadais): “In page 84, in subsection (2), lines 61 and 62, to delete ‘applies in respect of the distribution or’.” Aontaíodh an leasú. Tairgeadh leasú (An tAire Airgeadais): “In page 85, in subsection (4), line 18, to delete ‘applies in respect of the distribution or’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (xii) Alt 91. Tairgeadh leasú (An tAire Airgeadais): “In page 85, in subsection (2), line 50, to delete ‘applies in respect of the distribution or’.” Aontaíodh an leasú. Tairgeadh leasú (An tAire Airgeadais): “In page 85, after line 58, to insert a new subsection as follows: ‘(4) Any amount on which by virtue of this section income tax is charged on a company by an assessment under Case IV of Schedule D shall not be regarded as income of the company for any purpose of the Tax Acts’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (xiii) Aontaíodh alt 92. (xiv) Alt 93. Tairgeadh leasú (An tAire Airgeadais): “In page 87, to delete subsections (10) and (11).” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (xv) Aontaíodh alt 94. (xvi) Alt 95. Tairgeadh leasú (An Teachta Ó hEochaidh): “In page 89, subsection 1 (a), line 6 to delete ‘50’ and substitute ‘35’.” Aontaíodh an leasú. Tairgeadh leasú (An tAire Airgeadais): “In page 89, in subsection (3), line 24, to delete ‘expectations’ and to substitute ‘exceptions’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (xvii) Aontaíodh alt 96. (xviii) Alt 97. Tairgeadh leasú (An Teachta Ó hEochaidh): “In page 91, subsection (4), lines 35 and 36 to delete ‘12 per cent. per annum or such other rate of interest as the Minister for Finance may from time to time prescribe’ and substitute ‘such a rate as the company would have to pay on similar borrowings from a bank’.” Tarraingíodh siar an leasú, faoi chead. Tairgeadh leasú (An Teachta Ó hEochaidh): “In page 91, line 35 to delete ‘12’ and substitute ‘13’.” Aontaíodh an leasú. Tairgeadh leasú (An Teachta Ó hEochaidh): “In page 91, subsection (4), line 47 after ‘period’ to add: ‘Provided that the restriction will not apply to interest paid to an associate where it is shown that the loan was provided by the associate from his own resources or from personal bank borrowings’.” Tarraingíodh siar an leasú, faoi chead. Aontaíodh an t-alt, mar a leasaíodh. (xix) Alt 98. Tairgeadh leasú (An Teachta Ó hEochaiah): “In page 92, between lines 46 and 47 to insert a new subsection as follows: ‘(4) subsection (1) shall not apply to— (a) loans made to persons who are not resident in the State and where no person resident in the State would become liable to tax if distributions were made to the nonresident person who received the loan; (b) loans in excess of a company’s distributable income; (c) loans made out of profits which have been relieved from tax under Parts IV and V of this Act or under Part XXV of the Income Tax Act, 1967’.” Tarraingíodh siar an leasú, faoi chead. Aontaíodh an t-alt. Cuireadh breithniú breise ar an mBille ar athló. 4. Ordaíodh: An Coiste a dhul ar athló ó 1.40 p.m. go dtí 3.30 p.m. 5. Chruinnigh an Coiste arís ar 3.30 p.m. 6. Comhaltaí i Láthair. Bhí na comhaltaí seo a leanas i láthair:— An Teachta Seán Easmann (sa Chathaoir), An tAire Airgeadais, na Teachtaí Pádraig Béalatún, Mac Fheorais,* Éamonn Ó Coileáin, Ó Conalláin,* Tomás Mac Giolla Phádraig (Baile Átha Cliath Láir), * Ó hEochaidh, Ó Leathlobhair, * Ó Máille agus Mac Páidín. 7. An Bille a Bhreithniú. D’athchrom an Coiste ar an mBille a bhreithniú. (i) Alt 99. Tairgeadh leasú (An tAire Airgeadais): “In page 93, subsection (1), line 32, after ‘income tax’ to insert ‘by virtue of section 434 of the Income Tax Act, 1967’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (ii) Aontaíodh alt 100. (iii) Alt 101. Tairgeadh leasú (An tAire Airgeadais): “In pages 96 and 97, to delete subsection (2) and to substitute the following subsection: ‘(2) Where the aggregate of— (a) the accumulated undistributed income of the company at the end of the accounting period, and (b) any amount which, on or after the 27th day of November, 1975, was transferred to capital reserves or was used to issue shares, stock or securities as paid up otherwise than for new consideration (as defined in Part IX) or was otherwise used so as to reduce the amount referred to in paragraph (a), is less than the excess referred to in subsection (1), that subsection shall apply as if the amount of that aggregate were substituted for the said excess.’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (iv) Aontaíodh ailt 102 go 108 go huile. (v) Alt 109. Tairgeadh leasú (An tAire Airgeadais): “In page 104, subsection (1), line 19, to delete ‘section 108’ and to substitute ‘this Part’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (vi) Aontaíodh alt 110. Cuireadh breithniú breise ar an mBille ar athló. 4. Athlá. Chuaigh an Coiste ar athló ar 6.40 p.m. go dtí 2.30 p.m. Dé Máirt, 2 Márta 1976. |
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