Dáil debates

Wednesday, 23 November 2016

Finance Bill 2016: Report Stage (Resumed) and Final Stage

 

8:40 pm

Photo of Joan BurtonJoan Burton (Dublin West, Labour) | Oireachtas source

I understand the motives Deputy Boyd Barrett has expressed but I fear the impact of his amendment would be to potentially undo significant amounts of what people have agreed on a cross-party basis, which is a positive achievement. It would also help matters if the Minister of State would read a collection of notes on a number of the points because we are trying to deal with little bits where in fact there is a structure, and we need to get a bigger picture of what the total structure is in order to be able to reach a reasonable conclusion. With respect to Deputy Boyd Barrett, to take what has been amended and debated, I do not think anybody, including the Revenue Commissioners, are confident that it is all watertight because we are in territory in which I am not sure many of us have competence.

This is why I referenced the OECD and people with a global competence regarding some of these vehicles who are interested in tax reform. All these assets, vehicles or structures are moveable. If the Minister of State could set out the considerations, architecture and pillars of what the Government is trying to do in the Bill, it would be helpful. I asked Revenue earlier about when we will get figures for 2014 and 2015. Will it be after the end of November? We are moving from a market that was a disaster to one that is in recovery and in which a lot of profit is being made. If we knew when the next round of figures is going to be available and if we get those figures, we would then have a much clearer picture in respect of what is happening.

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