Results 26,461-26,480 of 27,945 for speaker:Michael McGrath

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 42: In page 49, lines 36 and 37, to delete “in the current accounting period or any subsequent accounting period” and substitute “in any accounting period”. Section 36 of the Bill inserts a new Chapter 5 into Part 33 of the Taxes Consolidation Act 1997 to apply new measures to outbound payments of interest, royalties and distributions,...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 43: In page 57, to delete lines 6 to 8 and substitute the following: "(3) Section 172C of the Principal Act is amended⁠— (a) in subsection (2), by the insertion of the following paragraph after paragraph (bc): "(bd) subject to subsection (4), a scheme which⁠—". As part of this year's Finance Bill, amendments are being made...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 44: In page 57, to delete line 19 and substitute "Schedule 2A,",".

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 45: In page 57, between lines 19 and 20, to insert the following: "and (b) by the insertion of the following subsection after subsection (3): "(4) A person shall not be an excluded person under subsection (2)(bd) in relation to a distribution which is a relevant distribution to which section 817X applies.".".

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 46: In page 58, between lines 8 and 9, to insert the following: "Medical practitioners operating in partnership 38.The Principal Act is amended, in Part 43, by the insertion of the following section after section 1008: "1008A. (1) In this section⁠— ‘enactment’ means a statute or an instrument made under a power conferred by...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I thank the Deputies for their comments. The Department of Health has advised that the majority of GPs deliver services as part of a practice, either as partners or practice employees. In its view, the proposed amendment would address a substantial part of the issue, as it understands there are more GPs who are partners than there are those who are employees. Obviously, in the case of an...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 48: In page 59, line 4, to delete “lease” and substitute “finance lease”. These amendments relate to section 38, as amended by the select committee. Section 38 included a number of amendments to the taxation of leased assets in Ireland. Following the publication of the Bill as initiated, a number of issues were raised by stakeholders....

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 49: In page 59, to delete lines 30 to 38 and substitute the following: “(4) (a) Subject to paragraph (b), where, during the lease term, there is a change to the lease term or the amount of the lease payments, then in the accounting period in which the change occurs - (i) the amount of income under subsection (2), or (ii) the amount to be deducted under...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 50: In page 60, between lines 4 and 5, to insert the following: “(b) in section 77, by the insertion of the following subsection after subsection (3): “(3A) In respect of a company that carries on a leasing activity in respect of which the company is within the charge to corporation tax under Case IV of Schedule D, in computing the income from such...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 51: In page 62, to delete lines 15 to 28 and substitute the following: “ “(4) Where this section applies and the lessor is a company, the amount to be included in the income of the lessor in respect of a relevant lease shall be - (a) where the relevant lease is a finance lease, the amount of income from such a lease computed in accordance with...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 52: In page 71, line 1, after “ ‘arrangements’ ” to insert “, other than in paragraph (b)(ii) of the definition in this subsection of ‘qualifying subsidiary’,”. Amendments Nos. 52 to 68, inclusive, relate to section 39 which introduced a new section 76E into the Taxes Consolidation Act 1997. The section allows...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 53: In page 71, between lines 20 and 21, to insert the following: “ ‘indirect qualifying subsidiary’ means, in respect of a qualifying financing company, a company that would be a qualifying subsidiary but for the fact that 75 per cent or more of its ordinary share capital is held directly by an intermediate holding company; ‘intermediate...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 54: In page 71, line 23, after “subsidiary” to insert “or intermediate holding company, as the case may be”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 55: In page 71, line 26, after “subsidiary'” to insert “or indirect qualifying subsidiary, as the case may be”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 56: In page 71, line 29, after “subsidiary’ ” to insert “, in respect of a qualifying financing company,”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 57: In page 71, to delete line 32 and substitute the following: “(b) that is - (i) tax resident in a Member State or an EEA State, or (ii) regarded as resident in a territory under arrangements having force of law by virtue of section 826(1) made with the government of that territory, and”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 58: In page 71, to delete lines 37 to 39 and substitute the following: “(b)advanced by a qualifying financing company to - (i) a qualifying subsidiary, or (ii) an indirect qualifying subsidiary, where the company referred to in subparagraph (i) or (ii) is a 75 per cent subsidiary of the qualifying financing company concerned, and”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 59: In page 72, line 2, after “subsidiary” to insert “or indirect qualifying subsidiary, as the case may be,”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 60: In page 72, to delete lines 20 to 24 and substitute the following: “(d) the disposal of any shares in a company such that the disposal causes a company to which a relevant loan was made to no longer be a qualifying subsidiary or an indirect qualifying subsidiary, as the case may be, of the qualifying financing company that advanced the relevant loan and...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 61: In page 72, line 26, to delete “disposed of.” and substitute “disposed of;”.