Results 3,121-3,140 of 45,510 for speaker:Simon Harris

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I am not sure where the figure of 5,000 jobs, to which the Deputy alludes is coming from. I am not sure whether it was ever a stated intention that this relief would deliver 5,000 jobs.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: With the permission of the Chair, I must respond because I do not want Deputy Doherty to get upset if I do not answer his question. This is part of the roadmap for Ireland's tax competitiveness. It is important to convey that this is not just a stand-alone measure. It is one of the offerings to attract more foreign direct investment to Ireland. The figure of 100 people alluded to by the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: Donald Trump is not a little guy.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: We do. I cannot let the Deputy's comment stand. The tax system in Ireland has many complexities. I argue, and the Deputy will disagree with me, that the Government has taken measures in the budget to improve the lot of everybody paying income tax and USC. If we want our small open economy to prosper we must keep trying to attract key decision-makers. They do not pay tax here because they...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I am pleased to do so. The provision is another attempt to align what we are doing on the tax side in terms of support for businesses wishing to look at exporting and spending time in emerging markets. We are aligning the list of countries that are eligible, under this initiative, with the integrated plan for trade, tourism and investment by the Department of Jobs, Enterprise and...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: For three years I have tried to convince the Deputy to agree with me on an issue so let us give it a go. Much of what the Deputy referenced relates more to the Construction Contracts Act than to the tax side and, therefore, it would be important to get that Act implemented. Responsibility for the Construction Contracts Act has been given to the Minister of State at the Department of Jobs,...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: This is the joy of tax. Where a withholding tax should have applied to the payment, this is not available as a credit to the subcontractor as the subcontractor received the payment in full without the operation of the relevant contracts tax but the principal is liable for the RCT which should have been deducted from the payment. In addition, the principal contractor is liable to a penalty...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: That is correct.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I am happy to do so.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I am not passing the buck but much of what the Deputy referred to is under the remit of construction employment contracts. I accept Revenue has a role to play, although it cannot be all of the solution. I would argue that in terms of the example the Deputy has given of people being paid in brown envelopes in pubs, this sort of provision will disincentivise that. We want a situation where...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: Less risky in terms of the chances of one actually paying one's taxes. It is a judgment that Revenue makes. I outlined in my speaking note, which I know was quite technical, the position on people who are registered and known to Revenue versus people who Revenue do not have any knowledge of. It is a technical change. I appreciate it is an important change but this principle already...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: It is not a panacea for everything but it is an honest effort to improve that situation.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: Revenue will not be seeking recourse to the individual who made a donation in good faith. I am happy to clarify that. It is not a case that if one made a donation to a charity, presuming it was still a charity, Revenue will come knocking on one's door. That is not the case. I will outline for the Deputy the effect of this section. The amendments being made apply only to approved bodies...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 18: In page 29, line 21, to delete "on 1 February of the tax year" and substitute "at the time of the payment or transfer".Section 17(2)(b) amends the approved minimum retirement fund, AMRF, provisions in the Taxes Consolidation Act 1997. The change allows the beneficial owner of an AMRF to draw down up to 4% of the value of the assets each year. Heretofore, the capital...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 19: In page 30, to delete lines 19 to 23 and substitute the following:" " 'fund administrator' means a qualifying fund manager of an approved retirement fund or an approved minimum retirement fund or the PRSA administrator of a vested PRSA (within the meaning of section 790D(1)), as the case may be, (in this definition referred to as the 'fund') the beneficial owner of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I take that point and I will convey it to the Minister for Finance. I know he has tried to provide consultation and engagement but I do not think it happened with regard to this section. I will relay the Deputy's comments to the Minister. It is highly technical. Many of the changes to which the Deputy has alluded are quite technical in nature rather than substantive but I note the point.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: That is what we are trying to do. I might bring my speaking notes in future, Chairman.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I will do so.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: That is a fair point. I have also asked that a question and answer briefing be compiled which I will circulate along with the speaking notes to the committee members.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 20: In page 31, to delete lines 7 to 10 and substitute the following:“ “ ‘relevant member’, in relation to a relevant pension arrangement, means— (a) a member of a relevant pension arrangement in respect of whose retirement benefit under the arrangement a pension adjustment order has been made in favour of a non-member, or (b) a member...