Results 21,721-21,740 of 33,049 for speaker:Paschal Donohoe

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: One of the reasons I am introducing this measure on Report Stage is the significant engagement we had on this issue with the Department of Housing, Planning and Local Government.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I move amendment No. 71:In page 65, between lines 13 and 14, to insert the following: “Farm consolidation relief 65. (1) Section 81C of the Principal Act is amended⁠—(a) by substituting “24 months” for “18 months” in each place where it occurs, (b) in subsection (1)(a)⁠—(i) by deleting the definition of “PPS...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: Deputy McGrath has proposed that a report on the options to incentivise charitable donations in the form of bequests and the transfer of shares to charitable organisations be prepared and laid before the Dáil. Capital acquisitions tax is a tax on the beneficiary of a gift or an inheritance. Section 76 of the Capital Acquisitions Tax Consolidation Act 2003 provides that a gift or an...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I take the Deputies' points regarding the need for briefing on an amendment of this scale. It is something that I will take account of in future. I introduced the amendment on Report Stage because when I was working through the implementation of the change in non-residential commercial property and considering the consequences, it became apparent that there was potential to feed in to an...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I move amendment No. 68:In page 59, between lines 3 and 4, to insert the following:“Repayment of stamp duty where land used for residential development 60.The Principal Act is amended by inserting the following section after section 83C:“83D. (1)(a) In this section⁠—‘appropriate part’, in relation to land, means the whole or, as the case may be, the...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: It is likely we will have to come back just to address that matter because I want to see the issue dealt with fully. On the yield, the first nine months of revenue receipts relating to commercial activity was in the order of €6.4 billion. If I look at the continuation of the level of that yield into next year, I believe the yield I have forecast will be delivered. That being...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: On anti-avoidance, I indicated on Committee Stage that I would bring forward an amendment to provide for certain anti-avoidance measures in connection with the upward adjustment to the rate of stamp duty on non-residential property. I will get those measures right because I know what happened in the past and I am determined to ensure this measure is implemented fully in the way that I intend....

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: The broad background to this is that the rate for non-residential commercial property for many years at different times in our economy was 9%. It then moved down to 6% and then to 2%. It went from 6% to 2% because so little activity was happening in any of the different forms of non-residential commercial property to which the rate applied. At 2% it is a quarter of what it has been at...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: That is why I did not indicate to anybody what I was doing and the budget speculation on this measure began only a day or two before budget day, but it was contained in the tax strategy papers I published during the summer. Anybody who says they were not aware this was an option the Government was considering needs to read the papers we publish during the summer much more carefully in...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: This is a very significant concession within the tax code. The annual cost of the lower VAT rate from 13.5% to 9% is €491 million per year, with a cost per VAT percentage point at €109 million per year. This is an exceptionally significant recognition through the VAT code of a very important sector within our economy. In addition to the costs I have shared, it should also be...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I will be brief. On Committee Stage, I outlined my concerns about the approach for which this amendment calls. Moving in this direction would breach the policy that it is not appropriate for travel to and from work to be a tax deductible expense. Regarding the taxation of expenses, the Revenue Commissioners have specific concerns about the practicality of the proposals. Based on the...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I outlined the rationale for this tax. It is a tax that is supported by the majority in the House. I am not accepting the Deputy's amendment.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: An inquiry may be necessary.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: At one point when the double doors opened and Deputy Doherty walked in, I thought he would have a can of Red Bull in his hand, such were the points his colleague made in his absence. Anyway, I am glad the Sinn Féin policy on this matter is clear and that the party supports the principle of the sugar tax. In some ways, Deputy Paul Murphy is one of the most unlikely socialists I have...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I have outlined the reason I do not believe such a tax should be introduced. The reason is that we already have such a progressive tax system in place in which those who have more income pay more tax. Many different evaluations of the tax code that have been carried out by the OECD and international experts have recognised that. The reason we do not currently have a database to assess...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: I will most certainly be monitoring the impact of this change because it is an important policy change. Unlike Deputy Paul Murphy, I believe in the value of a mixed economy.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: There is a mixed economy. Next year, we will see both public and private housing delivered, although we need more supply. I believe in ensuring we have the right policies in place at each point in the development of the housing market. This is why the change is the right one to make. It has the objective of trying to increase supply. I have explained to Deputy Doherty why we cannot...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I outlined my reasons for opposing this amendment on Committee Stage. I will continue to oppose it and am not in a position to accept it.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I have already debated elements of this amendment with the Deputy and I am not in a position to accept it.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I have already outlined the reasons I could not support this amendment. It does not take account of the ability of individuals to move in and out of our State. We already have a highly progressive tax system in which those who have more pay more. For those reasons, I cannot accept the amendment.