Results 3,841-3,860 of 32,547 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I cannot second-guess the CSO. It does not have information available to indicate by what quantum that figure could be underestimated. That means I have to accept its figure and add in some rounding at the end in case there is a deficiency in our calculation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Yes, it is the case that the advice I have received from my officials over the last number of years has pointed to the risks that are there. However, just because I reached a different view in relation to bringing in this rent credit does not mean I ignored the advice of my officials. I considered what my officials advised me in relation to this. I believed that while there is a risk of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: The advice I have received is that this rules them out, in their official capacity as Ministers, from being able to claim the rent credit. That is our understanding.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Given the understanding of that legislation and the understanding in that phraseology as used in the past, it refers to the Minister as a holder of the official role of a Minister. This is the same language that was used in the Affordable Housing Act 2021. The language used here is consistent with previous legislation. In previous legislation at other points, in the event that a tenant was...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I will come back to the Deputy as to whether we got the advice From the Office of the Attorney General. I will supply that information to the Deputy. In any event, because we are using the same drafting as used in the past when referring to a Minister, we are confident that no tenant would be discommoded by the current drafting.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Revenue informs me that a person will be in a position as a tenant to be able to claim the credit for 2022 by the end of January 2023.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: It is through filing their income tax return.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: For 2022 a person will claim it as part of his or her normal income tax returns for the year. For 2023, Revenue will make a facility available for the option to claim it during the year.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: That is correct. From January a person will be able to go into the ROS online system and make the claim at that point.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: If a person is in the rent-a-room scheme, and is unrelated to the landlord, the tenant will be able to claim this credit.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I move amendment No. 10: 10. In page 22, between lines 20 and 21, to insert the following: “Repeal of section 11 of Finance Act 2019 13. Section 11 of the Finance Act 2019 is repealed. Key Employee Engagement Programme 14. Section 128F of the Principal Act is amended— (a) in subsection (1) — (i) by the insertion of the following definitions: “...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: For the benefit of the committee, the motivation for this is not just the view of the Commission on Taxation and Welfare but also the public consultation we conducted on the operation of the KEEP and a response to issues raised with us, by and large by Irish SMEs. I will be happy to come back to any questions Deputy Farrell has at any point.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I thank the Deputy for the question he has put to me. The last time this measure was examined was in 2019. At that time, the review stated the policy objective of assisting firms in Ireland to diversify their exports remained valid and did not raise any issues that merited a significant change to the scheme. Indeed, it recommended its extension until 2024. That said, the Deputy is raising...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I am aware of the critique of the impact of share options and how they can assess the performance of companies and senior executives. The companies that we want to be inside the parameters of this scheme are smaller and indigenous ones that are competing with large companies for employees. The change we are making in allowing buy-backs to operate is a consequence of the reality that for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I am aware of the Deputy's views on this and I am always conscious of the need to make the case for equity in our tax code and the concerns that ordinary taxpayers will have on something like this. The reason a scheme like this is merited is because it is part of the measures we need in order to attract people to our country who play an important role in the creation of jobs and the location...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I just received the Commission on Taxation and Welfare report a few weeks before the budget. This is an important scheme and as I said to the Deputy previously, it is part of what our country has to offer to allow certain jobs to be located here. When I received the report of the Commission on Taxation and Welfare, I did not have sufficient time to evaluate its recommendations to decide...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I am not aware of how companies operate. I am not aware whether the companies that are on this scheme operate in the way the Deputy is suggesting. I certainly will request Revenue to give me a view on the matter, which I am happy to share with the committee. However, I do not have that information now.