Results 46,041-46,060 of 49,836 for speaker:Stephen Donnelly

Committee on Budgetary Oversight: Post-Budget Analysis: National Women's Council and Social Justice Ireland (30 Nov 2016)

Stephen Donnelly: I thank Dr. Healy.

Committee on Budgetary Oversight: Post-Budget Analysis: National Women's Council and Social Justice Ireland (30 Nov 2016)

Stephen Donnelly: It sounds like political heresy - long-term visions and planning. Where we would be? No, I agree wholeheartedly. I will ask a simple question to which there may not be a simple answer. Social Justice Ireland is on the national media a great deal concerning homelessness and it works in that area. I am not referring to housing, but emergency accommodation for the men, women and, God...

Committee on Budgetary Oversight: Post-Budget Analysis: National Women's Council and Social Justice Ireland (30 Nov 2016)

Stephen Donnelly: Would Ms Murphy e-mail the information to me?

Committee on Budgetary Oversight: Post-Budget Analysis: National Women's Council and Social Justice Ireland (30 Nov 2016)

Stephen Donnelly: I could not agree more. That is why I put a caveat to the question. It is a much bigger question. There is also a raw ethical issue of a rich country allowing what is happening tonight and every night.

Committee on Budgetary Oversight: Post-Budget Analysis: National Women's Council and Social Justice Ireland (30 Nov 2016)

Stephen Donnelly: I thank Dr. Healy and the Chairman, I am nearly done and I thank them for their time. I want to go back to a point made by the Chairman on the level of taxation. This committee spent some time looking at where we are at regarding public spending. Reference was made to Mr. Seamus Coffey, who said that we are a lower tax economy and a lower spend economy, however the majority of that lower...

Committee on Budgetary Oversight: Post-Budget Analysis: National Women's Council and Social Justice Ireland (30 Nov 2016)

Stephen Donnelly: A dual system, State-based with full transparency and so on?

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: The Minister of State has said that REITs and ICAVs simply facilitate collective investment. REITs and ICAVs and the changes to QIFs were set up to make property investment tax free. They were not set up to facilitate collective investment. If one visits any legal website in Ireland or if one reads any of the hundreds of PowerPoint presentations on the issue of REITs, QIFs and ICAVs, one...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: There will be even fewer.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: I will not repeat myself, but a report would be useful. Ireland is currently caught between a protectionist UK and a soon to be protectionist US. Our Exchequer returns will get hit on the SME side by Brexit and it is highly likely that our multinational corporations, MNC, Exchequer returns could be hit substantially by a protectionist America. We are taking one of the biggest asset bases...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Coming back to the ownership of QIAIFs and ICAVs, my understanding of the last-man-standing rule is that the tax liability passes to wherever the profits are realised and fully dispersed. Specifically, if there is an ICAV or QIAIF here which owns office blocks, hotels, apartment blocks or factories and that ICAV or QIAIF is in turn owned by an investment undertaking outside Ireland, will the...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Will not, sorry.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: I could not quite hear the Minister of State so I ask him to repeat it. Did I hear correctly that if an ICAV or QIAIF is owned by an investment undertaking abroad, IREF withholding tax will not be applied?

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Meaning.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: It is where the investment undertaking is owned by a number of people.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Individuals.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Withholding tax will not be applied to an ICAV or QIAIF owned from abroad once that ownership is widely held. Is that correct?

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: I thank the Minister of State for that outline. The investment undertaking is one that I have been trying to get my head around for some time. The Minister of State referred to that in his amendment. The list of groups that are exempt from the withholding tax includes investment undertakings but it is the Government's position that Irish collective asset management vehicles, ICAVs,...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Can I come back in?

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: I may not have caught the answer. Will the withholding tax apply to profits from capital gains? If an apartment company makes €10 million by selling apartments, will that be captured? No capital gains tax will be applied to it but will the gain be captured by the withholding tax? The Minister said the Government retains taxing rights in Irish property but it has given them all...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: Amendment No. 47 speaks to one of the core parts of the IREF, which is if a property is held for five years no capital gains tax is paid. The argument we heard put forward on Committee Stage was this was the introduction of capital gains tax. The argument was no capital gains tax is paid on property now, but because of amendment No. 47 if a property is held for less than five years, capital...