§ Mr. Kershawasked the Chancellor of the Exchequer if he will make a statement as to an amendment to the Double Taxation Agreement with the Republic of Ireland.
Mr. AmoryThe House will recall that last year we entered into an agreement with the Republic of Ireland to make it clear beyond doubt that avoidance devices against which the two countries had enacted specific legislation could not be practised under cover of the exemptions provided by the24W Double Taxation Agreement with the Republic of Ireland. In view of the introduction in the current Finance Bill of further provisions against tax avoidance, a new amending agreement is being negotiated with the Republic of Ireland to restate in general terms the Agreement of last year. This Agreement will require to be validated by a Clause in the Finance Bill which I shall bring forward at the Report stage.