Results 4,321-4,340 of 6,295 for speaker:Michael D'Arcy

National Planning Framework: Statements (Resumed) (26 Oct 2017)

Michael D'Arcy: The language, a Cheann Comhairle.

National Planning Framework: Statements (Resumed) (26 Oct 2017)

Michael D'Arcy: It did not work particularly well in the North.

National Planning Framework: Statements (Resumed) (26 Oct 2017)

Michael D'Arcy: We have to consider some facts. Some 2.7 million of the State's population of 4.7 million live in Leinster and the move towards the east coast has been astonishing. I drove from Wexford to Dublin this morning. The Ceann Comhairle is from a county adjacent to Dublin and my neck of the woods is also close to the capital. A person from my locality needs to be on the motorway at 6.05 a.m. in...

Seanad: Commencement Matters: Marine Resources (26 Oct 2017)

Michael D'Arcy: I thank the Senator for highlighting these important marine environmental issues. I know that she is passionate about the marine environment and all of the issues connected with it, as was evidenced by the debate on the Private Members' Bill she introduced in this House in November 2016 to prohibit micro-beads. On the proposed legislation on micro-beads, work has been ongoing on the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: I move amendment No. 17:In page 20, after line 38, to insert the following:"Amendment of section 664 of Principal Act (relief for certain income from leasing of farm land)14. (1) Section 664 of the Principal Act is amended—(a) in subsections (1) and (7), by substituting "EU Basic Payment Scheme" for "EU Single Payment Scheme", and (b) in subsection (8), by substituting the following...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: I move amendment No. 18:"Amendment of Part 16 of Principal Act (income tax relief for investment in corporate trades - employment and investment incentive and seed capital scheme)15. (1) Section 488 of the Principal Act is amended, in the definition of "associate", by deleting ", except that the reference in paragraph (b) of that subsection to any relative of a participator shall be excluded...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: That is correct.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: As the Deputy well knows, all tax matters are matters for the sovereignty of the State. State aid is a different matter.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: We are satisfied that we are in breach of state aid rules. It applies to around 300 people in total. We have calculated it at €6 million to €10 million per annum.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: We have advised the Commission about this. We have said that the error is being rectified immediately.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: The Commission can instigate an investigation, but we do not believe there is a requirement for an investigation. We have brought the issue to the attention of the Commission and we are rectifying it. If the Commission chooses to have an investigation and take a case, the moneys will potentially have to be recouped.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: It is premature to speculate whether the Commission will take a case. We have pointed out the error, we are rectifying it and it is a matter for the Commission to decide what it will do.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: It depends on the case. There is precedent for similar things happening within the EU where the Commission chose not to go down the route of investigating and recouping the state aid.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: The starting point was to rectify the legislation. We are doing that now, as quickly as possible, and there will be a conversation with the Commission subsequently. I cannot provide a fixed date just yet.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: It was a legitimate oversight.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: It became obvious to Revenue that there was an issue. The Revenue Commissioners contacted the Department of Finance. The matter has been rectified, and the Revenue Commissioners were informed immediately.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: Contact was made within the last month.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: The scheme will continue as is, with this alteration. A review was to be conducted anyway, so it is quite timely.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: I move amendment No. 19:In page 23, between lines 15 and 16, to insert the following:“(II) by deleting paragraph (a) of the definition of “IREF excluded profits”,”. These amendments relate to the taxation of profits arising on the disposal of Irish land that has been held by an Irish real estate fund for more than five years. This proposal will remove that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Michael D'Arcy: All I can do is deal with what is in front of me on this occasion. With the movements in capital gains tax and stamp duty, and the attempts to ensure that more land is made available for development for building, circumstances change. Circumstances arise depending on what has happened in the previous 12 months. We are not satisfied with the quantity of land that has been made available or...