Results 6,981-7,000 of 32,610 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: The Deputy asked me about the use of carbon tax estimates. He is correct to say that I did not answer due to the variety of other issues with which I had to deal. Apologies for that. The most recent projection provided by my Department for the period 2021 to 2030 is €9.2 billion in additional carbon tax revenues. Projections are point-in-time exercises and the reviews are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: This section administers the VAT Consolidation Tax Act in sections 15 and 115 in relation to VAT groups. For administrative convenience where a number of persons, including at least one taxable person, are established in the State and are closely bound by financial, economic and organisational links, Revenue may deem them to be a single taxable person referred to as a group. Under these...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: It will apply to the person, organisation or business that holds the deposit.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Is this regarding section 52?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I do not think there are any thresholds for it.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: This deals with the issue of refunds where VAT does not apply to the person who paid the VAT in the first place. There is a list of different circumstances in which this will happen. The most notable for me is including the VAT on stocks of radio receivers and record players purchased before 1979 which are now being resold.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Indeed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I thank the Deputies for the different points that they have raised. I will begin with the points put forward by Deputy Doherty. He is correct in stating that two countries within the European Union are pursuing the action that he has described, but 25 are not doing so. As for what those other countries are doing, they are doing the kind of things that we are looking at doing, which is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Very briefly. It was not possible then; it is not possible now.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I stand by what I said. A zero rate is not possible and cannot be done. Can the Deputy explain to me how to do a VAT rebate?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I stand by what I said. Zero-rating VAT cannot be done. Does the Deputy accept that?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: You are wrong;-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: -----it cannot be done.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: A zero-rating of VAT cannot be done. Deputy Doherty has just acknowledged that. As for the rebate, how you would organise a rebate to every energy user in the country, with the urgency that Deputy Doherty is describing, remains to be seen. I stand by what I said. The Deputy is referencing two countries; 25 others did not take such measures. Those other 25 countries are not standing idly...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I thank the Deputies. There are three points here. One is about how we respond to the great harm done by mica. I am faced with calls all the time to meet groups about every issue the Government is dealing with that involves the use of money. I am inevitably called on to meet those affected by mica. If I decide to meet residents and homeowners who have had such an awful time with this...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: It is worth emphasising again that the money that will be brought in next year by the bank levy is not money that was included in our budgetary forecast for next year. It is not a reduction in forecast revenue. We were not expecting to collect it because the tax was due to come to an end this year before I made the decision to extend it. I am doing this to minimise the considerable...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Let me finish. It is up to the Acting Chairman then as to whether he wants to accept the Deputy's question. On charging and funding options above and beyond what we are discussing in the Finance Bill, I am considering different ways of delivering the money we will need to meet the needs of those who have been afflicted by the awful experience of mica. I cannot at this point confirm what...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Let me develop my argument further. Given the very different views the Deputies and I have on the economy and our banking system, if I were successful in convincing them that I was doing the right thing with a significant policy decision, I would need to assess the policy and decide whether the decision was right. The starting points the two Deputies across the table have and mine on the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I was about to say that. I am sure if I were to come out and applaud a policy the Deputies put forward, they would think twice before it went to print.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I take that point. I will begin by responding to Deputy Barry. He talked about betrayal. He thought it was a scandal on the way out. However, he was not happy when these banks were here. He cannot have it both ways. I do not recall ever hearing him utter a word recognising the role of these banks as employers, investors or lenders. Now that they are out the door, to use his language,...