Finance Minister Brian Cowen has published the Finance Bill, which gives effect to measures announced in the Budget, but also includes a number of other proposals.
The Minister told reporters that the overall measures announced in the Budget had taken account of the risks to economic growth.
Following a Government decision last summer, the Bill includes new tax rates on profits from petrol and gas production. The rates will range from 5% to 15% and will depend on the profits made by an oil field. The new tax is in addition to the corporation tax rate of 25% in this area.
The Minister also plans to reduced the VAT rate on non-oral contraceptives such as condoms from 21% to 13.5%.
There will be a tax incentive for companies who spend money on certain types of equipment aimed at saving energy and reducing carbon emissions.
An initiative aimed at boosting domestic tourism will allow caravan parks and campsites to avail of capital allowances at the rate of 4% over 25 years.
There is also legislation to enable the introduction of a new Stamp Duty system known as e-stamping. This will allow a full online process where the user can file, pay and receive an instant stamp without Revenue's needing to see the deed in most cases. There is also a provision to allow Revenue officials to question suspects in Garda custody.
The Irish Banking Federation (IBF) welcomed the inclusion of a new regime for the taxation of dividends received by companies in Ireland from non-resident companies.
Up to now, Irish companies have been taxed at 25% on dividends received from overseas subsidiaries, with a credit for foreign tax.
But the IBF says most of Ireland's competitor countries exempt foreign dividends from corporation tax, so the change should attract more headquarters and holding company operations.
