Results 15,001-15,020 of 34,777 for speaker:Seán Fleming
- Public Accounts Committee: Business of Committee (22 Feb 2018)
Seán Fleming: We will follow that up.
- Public Accounts Committee: Business of Committee (22 Feb 2018)
Seán Fleming: That is okay.
- Public Accounts Committee: Business of Committee (22 Feb 2018)
Seán Fleming: We can do it later in private session.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Today we will resume our consideration of Chapter 20 of the Comptroller and Auditor General's report of 2016. The chapter is on corporation tax. It is important that members of the public remember that corporation tax accounted for 15% of total tax receipts in 2016. This tax has displayed considerable volatility in recent years. Some 70% of all corporation tax is paid by the top 100...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: I ask Dr. Keegan to make his opening statement. We will not have any lead speakers. Each member will put questions to Dr. Keegan as we go along.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: I thank Dr. Keegan. We are talking only about corporation tax today. We are not talking about other taxes. Dr. Keegan said no taxes can be modified by the European Union without unanimous agreement. Is he talking about corporation tax specifically?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: With regard to the income tax bands that change every year and the tax credits that are announced in the budget, do they specifically require unanimous agreement?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Corporation tax is also sovereign?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: That is okay, I just wanted to check that. Who would like to pose a few questions? The document is now published. We ask people who have an interest in this area to download and read it.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Next is Deputy Murphy. I will pose a few questions shortly.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: 1 January 2014.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: We will ask Revenue that question.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: I want to ask a few questions that relate directly to Dr. Keegan's presentation. I am following his document. Paragraph 1.4 on page 7 addresses trading income versus passive income. Passive income is generally a term for income derived from investment - rental income from property investments - that is subject to a tax of 25%. For a company to access the 12.5% rate of corporation tax on...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Give me an example of a grey area.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: I will move to a few points on page 14. Taxation of real estate investment trusts is mentioned. It states that shareholders are taxed where a real estate investment trust, REIT, pays a distribution in the form of a property income dividend, and the property income dividend paid to a corporate shareholder is subject to a 25.5% rate. It continues to state that the property income dividend...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Give me examples of who is on 25%, who is on 0% and who is on 12.5%. Perhaps that is what people can relate to. We understood the example about the rental property. Give us an example of this. I know it is an unusual one and Dr. Keegan might not get them all off the top of his head but people can understand this if they can see an example they can relate to.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: It is within a group, essentially.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Next is page 21. I am just moving through them and picking up a few little points as I go. We might put the question on the BEPS action plan of the G20, commenced in 2013, to Revenue. It is stated on page 21 that the purpose of the action plan is to enhance transparency for tax administration, providing adequate information to assess high-level profit shifting and other BEPS-related risks,...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: I am moving on to page 23, the issue of companies paying dividends. I thank Dr. Keegan for his briefing note. That is a matter we will raise in more detail with Revenue in the afternoon. The briefing note was helpful for that. I am moving on to page 26 of the briefing document and the capital allowance relating to intellectual property. We are talking about research and development. I...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (Resumed) (22 Feb 2018) Seán Fleming: Essentially, this allowance is not a self-assessment issue. One must send it in and Revenue can check it. Is it self-assessment?