Results 14,461-14,480 of 32,961 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: No, I do not. I have had engagement with the Dutch finance Minister and I have heard him speak about these issues. Like me, he is a finance Minister in a small open economy and he is very familiar with the need for domestic tax law and corporate tax policy to meet new and different standards. Along with Ireland, he is involved in the work of the OECD in this regard.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It is not a description of Switzerland that I would share or use. The other feature that all the economies to which the Deputy refers have is that they are small. I do not believe that competitiveness in the use of tax policy is only the prerogative of large countries but, I as I have argued in this committee in the past, I accept that big and small economies alike need to adjust policies...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The Deputy may be about to take me on a tour of the world. The Commissioner, Mr. Moscovici, would say that no country in the European Union meets the global criteria for a tax haven.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: In the case of Switzerland, neither side has identified the need to renegotiate the double taxation agreement. The existing treaty with Switzerland is one of Ireland's oldest but the protocol to it, signed in 2012, implemented key provisions in respect of OECD standards. Furthermore, it made important amendments to reflect changes in our respective laws. Given the fact that the treaty was...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The work currently under way branches out into three different areas. The next significant bilateral change will be the work we are doing with Germany. The vast majority, if not all, of the other work will be made via the multilateral convention, rather than treaty by treaty. As regards new treaties with other countries, our focus will be on Latin America, Africa and the Far East.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It was 2014.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: That would be done through the multilateral convention as opposed to a further bilateral treaty.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: This is a change that has been developed through the Organisation for Economic Co-operation and Development, OECD, work. I feel this change is needed and will be a big improvement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It will come in when ratified through the multilateral convention. It is not there at the moment but will take place through the broad OECD change.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It will be in effect for us from November.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: November of this year.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: That is correct, but the benefit of the OECD work is that an equivalent of that has to be implemented in any other jurisdiction participating in the work. While we may have strong recognition of this in our existing tax law, the benefit of the OECD approach is that it encourages everybody else to do the same.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: That is the purpose of a change like this, but I know that-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: This is an especially technical question, so if the Deputy is agreeable, I will ask Mr. O'Dea to answer directly.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: This will apply to existing companies, as opposed to companies due to be set up. The Deputy asked if this has any impact on changes we made in last year's Finance Bill and it does not. The Deputy also asked about a matter covered in a newspaper today. The Deputy has not commented on the individual company and I will not do so either as it would not be appropriate. My experience is that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The changes will refer to existing companies as opposed to those that are being set up. That is what I aimed to say a few moments ago. The ratification of the OECD changes will make it significantly harder for tax avoidance to happen in the way it has in the past. If I go any further than that, my comments will be associated with the company being discussed today, which would not be...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The Deputy is referring to a particular company that is covered in a major newspaper today. I can understand entirely why she wants to raise the matter, given some of issues raised by the newspaper today. It is simply not appropriate for me to comment on it. Any comments I make will be interpreted as applying to the affairs of a taxpayer and that is not something I believe is appropriate...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: I thank the committee for inviting me to discuss this important matter. It is important to recognise that credit unions, as volunteer-run financial co-operatives, provide an invaluable service to both rural and urban areas in Ireland. As Minister for Finance, I am keen to continue to support the sector, and this is reflected in the regular engagement I have had with it. In February, I...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: It was just general engagement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: The version of it that I have left out a concluding page. I might just go on to my concluding page. Once the deadline for submissions has closed, the Department, in collaboration with the Central Bank, will consider the feedback received as part of the consultation process. It is worth noting that as Minister for Finance, I have reduced the stabilisation scheme levy as a percentage of...