Results 33,021-33,040 of 34,956 for speaker:Seán Fleming

Confidence in Tánaiste and Minister for Enterprise, Trade and Employment: Motion (10 Nov 2020)

Seán Fleming: This motion raises two important issues from my point of view. The first of these is the issue of confidentiality and accountability on the part of Government. This brings me to what I want to see more of in Irish public life, namely, more openness and transparency at government level. The public want and are entitled to more openness, accountability and transparency on the part of the...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Property Tax (10 Nov 2020)

Seán Fleming: I thank Senator Boyhan for raising this matter. He has given a very detailed list of properties that are exempt from the tax introduced in 2013 to provide a stable sustainable funding base for local authorities, broadening general taxation measures. It has raised approximately €3.5 billion to date. Approximately €473 million is raised by the tax per annum. This goes to fund...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Property Tax (10 Nov 2020)

Seán Fleming: I understand the gist of the argument and accept what the Senator said. He highlighted regarding Dún Laoghaire the large amounts of money that may be due to a local authority when the changes are made next year. They will flow into 2022. As I said, the figure nationwide will be approximately €32 million. The programme for Government includes the provision for fairness and most...

Investment Limited Partnerships (Amendment) Bill 2020: Second Stage (12 Nov 2020)

Seán Fleming: I move: "That the Bill be now read a Second Time." I welcome the opportunity to address the Dáil Chamber on the Investment Limited Partnerships (Amendment) Bill 2020 following progression of the previous Stages in the Seanad. This Bill fulfils a commitment in the Programme for Government - Our Shared Future to progress the revision of the investment limited partnership structure and...

Investment Limited Partnerships (Amendment) Bill 2020: Second Stage (12 Nov 2020)

Seán Fleming: I thank Deputies Ó Murchú, Redmond and Nash for their contributions. While I accept the point that this is a technical Bill, it deals with many significant issues. On beneficial ownership and who will be the ultimate owner, the provisions in this Bill strive to achieve the objectives mentioned. These amendments will ensure that the highest international transparency standards...

Investment Limited Partnership (Amendment) Bill 2020: Referral to Select Committee (12 Nov 2020)

Seán Fleming: I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95(3)(a) to 181(1).

Seanad: Credit Union Restructuring Board (Dissolution) Bill 2019: Second Stage (24 Nov 2020)

Seán Fleming: This Bill gives effect to the dissolution of the Credit Union Restructuring Board. In summary, the Bill provides for the dissolution of the Credit Union Restructuring Board, the transfer of certain functions of the Credit Union Restructuring Board to the Minister for Finance and makes the relevant amendments to the Credit Union and Co-operation with Overseas Regulators Act 2012. I will give...

Seanad: Credit Union Restructuring Board (Dissolution) Bill 2019: Second Stage (24 Nov 2020)

Seán Fleming: I thank Senators for their contributions and support of this legislation, which will formally dissolve the Credit Union Restructuring Board, ReBo. The Government recognises the importance of the role of the credit union sector as a volunteer and co-operative movement and the distinction between it and other types of financial institutions has been stated well by several Members. There were...

Seanad: Credit Union Restructuring Board (Dissolution) Bill 2019: Second Stage (24 Nov 2020)

Seán Fleming: I am nudging them into mortgage lending. It is the main message I have for credit unions. They should start giving mortgages to people, as those people would be happier taking a mortgage from a credit union than a bank which could sell the loan to an international vulture fund. I have never heard of a credit union doing that. I thank Senators for their input and I look forward to...

Seanad: Finance (Miscellaneous Provisions) Bill 2020: Second Stage (24 Nov 2020)

Seán Fleming: I appreciate the Seanad Éireann facilitating the taking of two Bills relating to credit union activities this evening. The Credit Union Restructuring Board (Dissolution) Bill 2019 has already gone through the Dáil and it should complete its passage through the Oireachtas next week. This Bill is starting here and will have to go to the Dáil but we want to ensure it is...

Seanad: Finance (Miscellaneous Provisions) Bill 2020: Second Stage (24 Nov 2020)

Seán Fleming: I thank the Senators for their contributions on, and support for, this legislative measure which will formally amend the Credit Union Act 1997 to allow for general meetings, which are prohibited under the current health restrictions, to proceed. Some of the amendments will be permanent and will continue to operate after the interim period early next year. The Bill also amends the Fiscal...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: The Deputy has asked about section 46. The section allows UK insurance companies without a presence in the State to obtain tax approval for contracts under section 785 where they are authorised to transact insurance business by the authority in the UK which is responsible for supervising such undertakings. This will mean an individual whose pension is administered by a UK insurance company...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: Section 59 provides for a reduced rate of capital gains tax on investment gains accruing to fund managers in respect of investment in venture capital funds. This section is amended so that investments made in the UK can be taken into account in the calculation of the amount of relief. It is a capital gains tax measure. We need to provide for gains in the UK to be taken into account in...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: I can give the answer to that in respect of all the sections that have income tax or capital gains tax. We are only changing Irish law. We have no jurisdiction to change English law. It is a good question. Is it being reciprocated on the other side? It may or may not be. That is the answer. If it is not reciprocated on the other side, Irish and English taxpayers will be covered under...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: It would depend on the place of residence of the taxpayer.

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: Under a double taxation agreement, the gain will only be taxed once on whatever is the higher rate of tax in either jurisdiction. That agreement already exists in any event regardless of Brexit. Let us suppose the tax rate on a particular item in Ireland is 30% and the tax rate in the UK happens to be 35%. Depending on where a person is settling his or her tax affairs and where he or she...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: I move amendment No. 8: In page 38, between lines 13 and 14, to insert the following: “Amendment of section 2 of Act of 2010 61.Section 2 of the Act of 2010 is amended— (a) in subsection (1), in the definition of “Community”, by the insertion of “, subject to subsection (4A),” before “has the same meaning”, (b) in subsection (4),...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: Absolutely. I can confirm that.

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: Amendment No. 9 seeks to delete the section of the Bill that provides for a threshold for the retail export scheme. As referenced by Deputy Seán Crowe, the explanatory memorandum to the Bill refers to the original provision that the value of qualifying goods must exceed €175 in order for third-country residents to qualify for the scheme. It also requires UK citizens to show...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: We have had a discussion on this topic for the past couple of hours. It is very important that all of the views would be discussed but this is one issue on which we have not arrived at a consensus. The Bill before us contains approximately 120 sections and 50% of them relate to the Department of Finance. The entire essence of everything we have done relates to various arrangements between...