Finance (No.2) Bill 2013 published

The Minister for Finance, Michael Noonan T.D., today (24th October 2013) published the Finance (No. 2) Bill 2013. The Bill gives effects to taxation measures announced in Budget 2014.

Commenting on the publication of the Finance Bill, the Minister for Finance, Michael Noonan T.D. stated:

“Budget 2014 was carefully calibrated to support economic growth and job creation, to reduce our deficit to 4.8% and to secure Ireland’s exit from the EU/IMF programme. Finance (No.2) Bill 2013 give effects to the tax measures that underpin this strategy.

Twenty five pro-business and pro-jobs measures were introduced in Budget 2014, including the retention of the 9% rate of VAT for the tourism sector, the reduction of the air travel tax to €0, the introduction of a home renovation tax incentive scheme, enhancements to a number of agricultural incentives and a package of measures to encourage innovation, entrepreneurship and investment.

In addition, I have decided to bring forward the commencement date for the home renovation incentive to include works that commence on or after the 25 October 2013. This will act as a timely boost to this key sector and will ensure that works starting from tomorrow will be eligible for this incentive.

The full cost of the pro-jobs measures is in excess of €500 million in a full year and as I set out on Budget day close to €700 million of new tax measures are required to funds the jobs package and reduce the deficit in the public finance. This Bill sets out further details on these revenue raising measures.”

Finance (No  2) Bill 2013 As Initiated.