Results 4,821-4,840 of 5,157 for speaker:Mairéad Farrell

Regulation of Lobbying (Amendment) Bill 2020: First Stage (19 Nov 2020)

Mairéad Farrell: I move: That leave be granted to introduce a Bill entitled an Act to provide for amendments to the Regulation of Lobbying Act 2015, to extend the definition of persons to which the Act applies, to allow the Commission to provide directions on communication, to provide that the Code of Conduct be laid before the Oireachtas; to provide the Commission with further powers to investigate and...

Written Answers — Department of Communications, Climate Action and Environment: Renewable Energy Generation (19 Nov 2020)

Mairéad Farrell: 88. To ask the Minister for Communications, Climate Action and Environment further to Parliamentary Question No.236 of 10 November 2020, if Ros an Mhíl harbour is amongst those considered as a regional harbour in the response; if it is being included in any discussions or planning in relation to the marine renewable energy industry in view of the fact it is ideally positioned to service...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Will the Acting Chairman clarify that we will or will not be dealing with section 54 when it comes, or is it a short break?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Will the Minister speak briefly to the policy impact of this section?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 153: In page 66, between lines 2 and 3, to insert the following: “PART 6 REPORTSReport on hybrid mismatches (use of hybrid financial instruments) 55.The Minister shall, within 6 months of the passing of this Act, report the total number of yearly transactions that used hybrid financial instruments (profit participating notes/loans) and their total annual value...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: The Minister said it would be impossible to get this information. Is it not the case, however, that there is an automatic exchange of information between Revenue and taxpayers and that this information is publicly available because it is listed on the Stock Exchange?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: It is more a timing issue that the amendment refers to six months rather than the non-availability of the information. If I understand the procedure correctly, I will withdraw the amendment in order that I can resubmit it on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: That is good. I look forward to having a conversation this time next year and withdraw my amendment so that I can discuss it on Report Stage. I am glad to see that this is simply a timing issue rather than a case of not being able to be done in its entirety.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 154: In page 66, between lines 2 and 3, to insert the following: “PART 6 REPORTS Report on cost to the exchequer of tax forgone, from companies in receipt of section 110 (Taxes Consolidation Act 1997) tax relief 55. The Minister shall, within 6 months of the passing of this Act, report on the yearly cost of tax expenditures provided to companies in receipt of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: My concern is that the State applies a corporate tax rate on passive income, which is designed to protect against entitles that have little to no economic activity. With section 110, companies are effectively tax neutral due to an ability to use interest-free payments to write down taxable profits. It is for that reason I am interested in pressing my amendment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: May I speak on section 57?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Yes. I thank the Acting Chairman.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 155: In page 66, between lines 2 and 3, to insert the following: “PART 6 REPORTS Report on Controlled Foreign Companies (CFC) 55. The Minister shall, within 6 months of the passing of this Act, report the total number of companies, disaggregated by counterparty jurisdiction, who have had their exemptions waived as a result of being on the list of the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Gabhaim buíochas leis an Aire. I thank him for that. We are again looking at a timing issue more than anything else. For that reason, I will withdraw the amendment with a view to speaking on the issue on Report Stage. Put simply, my concern is that profit-switching could take place and that certain companies would be able to move profits to jurisdictions which are not on this...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I will comment on amendment No. 165. This is basically to introduce a general anti-avoidance provision whereby a surcharge of 30% is applicable to Irish company revenue when it is established that Irish companies are using intra-group arrangements to significantly reduce their liabilities through money that is being loaned out or channelled back to Luxembourg and other such countries as part...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: This is definitely an area that needs to be examined by the Department. For example, we know that one group has companies based in Luxembourg which are used for intra-group financial transactions. These companies had no employees in 2018, produced €123 million in profits in a recent financial year and paid very little tax. One of the advantages of using Luxembourg for intra-group...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 165: In page 66, between lines 2 and 3, to insert the following: “Report on introduction of measures to combat aggressive tax avoidance 55.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the introduction of measures to combat aggressive tax avoidance, such as a tax surcharge of 30 per...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: On section 57, I will be interested to hear the Minister's clarifications, but it is my understanding that the Bill seeks to limit the unnecessary duplication of reporting transactions across the EU by allowing for an intermediary to make use of a filing exemption, where they have evidence that a filing has been made by an intermediary in another member state. I am curious about this. We...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: It was my understanding that there are differences but I will take the Minister's word on it, and I will look at the issue in greater detail myself later on.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 162: In page 66, between lines 2 and 3, to insert the following: “Report on abolition of Local Property Tax 55. The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on options for the abolition of the Local Property Tax.”.