Results 3,661-3,680 of 4,810 for speaker:Liam Twomey

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Right.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: In the course of the conversation we have had so far, it would seem there is little stimulus on behalf of US law-makers or policy-makers to instigate too much change in what is happening right now.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Would Professor Barry mind if I offered a brief supplementary question to all other members of the committee?

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Deputy Dara Murphy wishes to comment.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Before Professor Barry responds, I remind Deputy Dara Murphy that representatives of the Revenue Commissioners and Department of Finance will appear before the joint sub-committee tomorrow.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Senator Sean Barrett will make a final comment.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: We are waiting for the G20 to produce solutions. I thank Professor Barry for the briefing and giving his time to the joint sub-committee for this very useful discussion.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: We will discuss the review of the global taxation architecture in the context of base erosion and profit shifting. I welcome Mr. Gary Tobin and Ms Kate Levey from the Department of Finance. Mr. Eamonn O'Dea and Mr. John Fanning from the Revenue Commissioners are also in attendance. The format of the meeting will be that Mr. Tobin will make some opening remarks which will be followed by a...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Thank you very much, Mr. Tobin. Deputy Michael McGrath will start off the questions.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: I agree it is a point of order. The Revenue Commissioners and the Department of Finance have stated they will not comment on the tax affairs of any individual entity.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: I refer the Deputies to the warning on privilege which is read out before any meeting of the committee. We must endeavour not to make any charge against an individual or an entity.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: That is what-----

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Every member is permitted to make a point of order and this will be taken into account also.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Mr. O'Dea might specifically address the issue raised by Deputy Doherty.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: The Deputy has had 20 minutes. If he does not object, we will move on. I propose that we engage in another, shorter round of questions. There are two matters with which I wish to deal. Is it agreed that we should write to the Commission in order to try to elicit a response from it? Agreed. Perhaps Mr. Tobin could forward the map to which he referred in respect of taxes to the committee...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: I presume that the information given out yesterday was supplied to the Department.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: One interesting aspect of it relates to the fact that Senator Levin, the chairman of the US Congress sub-committee, made it clear that "check-the-box" tax regulations introduced in the United States in 1997 and the "look-through" rule first enacted by Congress in 2006 seemed to have facilitated significant offshore profit shifting in that jurisdiction. I have been involved with this...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: When Congress held separate inquiries it was even more emphatic when it stated that the US has a huge role to play in closing off many of the loopholes.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Does Deputy Pearse Doherty wish to come in?

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Much of the debate has focused on what Ireland is doing. The European Union authorities are meeting representatives from Ireland but also representatives from other countries. Much of the issue concerns tax avoidance, a global issue. The corporation tax rate is crystal clear; it is fairly straightforward. As the Office of the Revenue Commissioners has just pointed out, at all times one...