Results 4,261-4,280 of 6,295 for speaker:Michael D'Arcy

Seanad: Financial Services and Pensions Ombudsman Bill 2017: Committee and Remaining Stages (20 Jul 2017)

Michael D'Arcy: I thank all of the Senators who were helpful and facilitating, and also a word of thanks to the staff within the Department of Finance. They put a huge amount of work into this legislation.

Seanad: Asian Infrastructure Investment Bank Bill 2017: Committee and Remaining Stages (20 Jul 2017)

Michael D'Arcy: I thank the Chairman, or the Leas-Chathaoirleach to give him his correct title.

Seanad: Asian Infrastructure Investment Bank Bill 2017: Committee and Remaining Stages (20 Jul 2017)

Michael D'Arcy: Unfortunately, I cannot accept this amendment. I do not consider its inclusion in legislation appropriate or necessary. I certainly agree that the issues raised by Senator O'Sullivan are clearly relevant to the operation of the bank and Ireland's involvement as a member should the Bill be passed. The State will be guided by established Government policy when acting as a member of the bank,...

Seanad: Asian Infrastructure Investment Bank Bill 2017: Committee and Remaining Stages (20 Jul 2017)

Michael D'Arcy: No. The AIIB is not controlled by a central bank, just as the ECB does not have control over AIB.

Seanad: Asian Infrastructure Investment Bank Bill 2017: Committee and Remaining Stages (20 Jul 2017)

Michael D'Arcy: Like many other banks of its type, it does not come under that standard type of regulation. The Irish Minister for Finance is a governor of the bank in line with other jurisdictions and other multilateral development banks of its type.

Seanad: Asian Infrastructure Investment Bank Bill 2017: Committee and Remaining Stages (20 Jul 2017)

Michael D'Arcy: I thank everyone involved in the legislation and thank the Senators for their amendment. It is good to discuss these matters and kick them about. I thank the staff within the Department and everyone else involved.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: I am pleased to be here to bring before the committee two draft Government orders giving force of law in Ireland to a new double taxation agreement with Kazakhstan and a new tax information exchange agreement with Macao. The double taxation agreement with Kazakhstan was signed by the ambassador of Ireland to the Russian Federation, Mr. Adrian McDaid, on 26 April 2017. The tax information...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: Ireland is a developed country and a member of the OECD and has always used this model as a basis for negotiations, adapting it to cater for Ireland's interests. When the UN model convention was published in 1980, it sought to assist developing countries. Ireland already had a well-established policy and model tailored to best represent the country's interests, so there was no need to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: I do not know the answer to that, Deputy. I can only assume that Pakistan, Ethiopia and Zambia were potentially not as well developed as Kazakhstan. There is a tier of development and my assessment may not be 100% correct. I will try to get a more detailed note on why there was a tiered structure between the UN and OECD models for those three countries, and why we are only using the OECD...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: The jurisdiction of Macao approached Ireland for an exchange of information. If a country comes to us and is prepared to establish an arrangement, it is our policy to put that arrangement in place. As the committee will have seen from the previous note, there are 25 countries with whom we have exchanges of taxation information in place. Macao will be the 26th such country. They came to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: It is a separate region, similar to Hong Kong.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: As a larger country, the United Kingdom has much bigger separate industries that we may not have developed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: Yes. It might be aircraft or car construction, for example. The UK exports certain products that we do not, and has developed certain sectors that we have not developed at all.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: That was with regard to a previous treaty that was signed in the 1960s and was thus now considered to be out of date.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: We are not in negotiations with other EU countries. In terms of protocol, we are considering the three countries of South Africa, Ghana and Japan, and they have to be updated.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: Yes, along with Ghana and Japan. We are also in the process of trying to make an arrangement with the Philippines and Indonesia.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: The area that we would like to progress is South America and countries in Latin America.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: We have agreements with Chile and Uruguay and we want an arrangement with Colombia.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (3 Oct 2017)

Michael D'Arcy: No. The UK is part of the OECD multilateral instrument.