Results 3,541-3,560 of 32,547 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: The Revenue Commissioners inform me that this issue does not affect the matter the Deputy is raising. They also inform me that it is difficult to pursue the stamp duty in regard to transactions of that sort because there are issues in regard to the collection of that revenue. Again, given that this is a detailed matter, I am happy to give Deputy Doherty more information in regard to it...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Likewise, I acknowledge that today is a difficult day for former employees of Ulster Bank. This is a bank that had been present in Ireland for many decades. I am sure many of the staff who are now, unfortunately, losing their jobs never thought they would be in a position where a bank that they had worked for for so long would be departing. I acknowledge the difficult nature of today for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I move amendment No. 63: In page 114, between lines 29 and 30, to insert the following: "Extension of farming reliefs 64.(1)The Principal Act is amended— (a)in section 81AA— (i)in subsection (7A), by the deletion of “as provided for by Article 18 of the EU Regulation”, and (ii)in subsection (16), by the substitution of “30 June 2023”...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: A sale of shares is normally chargeable to stamp duty at a rate of 1%, as Deputy Doherty concluded, and is payable by the purchaser. I am advised by Revenue that where a company purchases its own shares, the stamp duty treatment depends on the form in which the shares are held and the method by which the purchases are effected. For shares held in paper form, the shares may be bought back in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I will read out the note on this while I ponder the answer to the question. The Birth Information and Tracing Act 2022, which was signed into law in June, amended the Succession Act 1965 to make provision for persons who have been the subject of incorrect birth registrations. The amendments provide that a person affected by an incorrect birth registration, who is referred to in the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: They can select both but it is up to a maximum of €335,000.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: The value is to a combined total value of €335,000. It is not per group of parents or parent.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I want to make sure that I get the terminology right out of deference to the sensitivity of this matter. If a person has his or her birth parents and he or she also makes a decision on granting rights to the social parent, the maximum value of the rights has to be €335,000. The value is not given to both parents.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: For the social parent, yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: The amendment to the Act provides that the relationships between a person affected by an illegal birth registration and his or her parents and the relationship between this person and his or her parents will be deduced "in accordance with section 4B(1) of the Succession Act" and all other relationships will be determined accordingly. When these provisions are applied, the social parents of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: No. The structures are the same but up to an unchanged cap.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: It is €335,000.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: It applies to adoptees and we are now extending the structures only to persons who have been affected by an incorrect birth registration.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I move amendment No. 65: In page 137, between lines 27 and 28, to insert the following new section: “Implementation of Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation 73.(1) Part 33 of the Principal Act is amended— (a) in section 817RA(1), by the substitution of the following...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I am going to bring forward a technical amendment to section 71 on Report Stage to indicate that a commencement provision will no longer be required. The removal of that commencement date will enable the provisions of this section to commence on the date the Finance Bill is enacted.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I will begin by explaining to the Deputy what a mutual agreement procedure is because it is relevant to explaining the role of the Revenue officer referenced in this section. A mutual agreement procedure, MAP, is a dispute resolution mechanism that allows the competent authorities or countries concerned, in our case, Revenue, and its equivalent in other jurisdictions, to resolve...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: It could take longer than four years for that work to be done.