Results 301-320 of 5,148 for speaker:Mairéad Farrell

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: That is okay.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: It is somewhat ironic that we are talking about excise duty exemptions for NATO and EU military forces just after we talked about carbon tax increases which will affect households with lower incomes most. These big military forces have a massive impact on the environment. The US military is one of the largest polluters in history. It consumes more liquid fuels and emits more...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: For clarity, the Minister is saying that as we are supposed to be a neutral State this section will not be applicable to anyone and it will not be enforced at all. I do not understand why this section needs to be provided for. I need more clarification. The Minister is saying that because Ireland is a neutral State there will not be any impact by this at all. Will the Minister clarify...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: If we want to state clearly and categorically that we are a neutral State then we absolutely should be pushing back on this. I believe there is no question on this matter. The mind boggles that this was not already pushed back before it was brought to this point. If we want to make it very clear, and we need to be a lot clearer, that we are a neutral State then we should be pushing back on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I want to come in on the excellent point Deputy Barry made. We are seeing a massive increase in military spending in the EU. Between 2004 and 2006, €65 million was spent and now we are looking at billions of euro. We have also agreed to the permanent structured co-operation, PESCO, which sees an increase in our military spending so I agree with Deputy Barry. It would definitely be...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: When we analyse the impact the measures in section 32 will have, we see that they are focused on electric cars that cost between €35,750 and €46,500. Does the Minister agree that the distributional benefits of this measure are geared towards higher earners?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I know Deputy Naughten has raised this issue previously but it definitely has been coming up on all our contacts. Many people are deeply concerned about this. I hope it will be rectified quickly because it is an issue that is really affecting people's lives.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I ask the Minister to comment briefly on this section.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: We discussed this section at length when we dealt with section 29. I reiterate my opposition to the section and I want to have that put on record.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: On section 44, I welcome the application of the reduced rate of VAT to certain sanitary products but I am wondering why the section refers to "certain" rather than "all" such products. I ask the Minister to clarify that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Will the Acting Chairman clarify that we will or will not be dealing with section 54 when it comes, or is it a short break?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Will the Minister speak briefly to the policy impact of this section?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 153: In page 66, between lines 2 and 3, to insert the following: “PART 6 REPORTSReport on hybrid mismatches (use of hybrid financial instruments) 55.The Minister shall, within 6 months of the passing of this Act, report the total number of yearly transactions that used hybrid financial instruments (profit participating notes/loans) and their total annual value...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: The Minister said it would be impossible to get this information. Is it not the case, however, that there is an automatic exchange of information between Revenue and taxpayers and that this information is publicly available because it is listed on the Stock Exchange?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: It is more a timing issue that the amendment refers to six months rather than the non-availability of the information. If I understand the procedure correctly, I will withdraw the amendment in order that I can resubmit it on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: That is good. I look forward to having a conversation this time next year and withdraw my amendment so that I can discuss it on Report Stage. I am glad to see that this is simply a timing issue rather than a case of not being able to be done in its entirety.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: I move amendment No. 154: In page 66, between lines 2 and 3, to insert the following: “PART 6 REPORTS Report on cost to the exchequer of tax forgone, from companies in receipt of section 110 (Taxes Consolidation Act 1997) tax relief 55. The Minister shall, within 6 months of the passing of this Act, report on the yearly cost of tax expenditures provided to companies in receipt of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: My concern is that the State applies a corporate tax rate on passive income, which is designed to protect against entitles that have little to no economic activity. With section 110, companies are effectively tax neutral due to an ability to use interest-free payments to write down taxable profits. It is for that reason I am interested in pressing my amendment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: May I speak on section 57?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Mairéad Farrell: Yes. I thank the Acting Chairman.