Results 4,501-4,520 of 6,295 for speaker:Michael D'Arcy
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The only distortion of that analysis is, potentially, the impact that illegal cigarettes have on the entire market.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: I know.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The estimate is almost €64 million.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: I am aware of the possibility that an increase in the price of cigarettes could result in a disproportionate change in consumer behaviour and this is reflected in tax revenue provided by Revenue. While receipts for 2016 finish below forecast, it should be noted that the receipts finished ahead of the 2015 outturn.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: I am reading out the note. In the context of €1,098 million in total receipts, the deficit behind the 2016 forecast was 5%. It should also be noted that forecasting yields is becoming increasingly difficult with continued irregularities and fluctuations in tobacco clearances and tax receipts. While overall yields have continued to rise over the past three years, issues such as...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Is Deputy Doherty putting 5% on it?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The figure is 1.2%.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The 2017 figures look like they are on target. The 2016 figures were 5% over-estimated. The 2015 figures were under target as well.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Absolutely, I accept that.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Absolutely but the objective, like the sugar tax, is to tax unhealthy actions hard.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: I move amendment No. 56: In page 49, line 32, to delete “1 April 2018” and substitute “31 July 2018”. The amendment delays the implementation date of section 48 by approximately four months and is being made following representations from the motor industry to the effect that, due to vehicle purchase lead times and the cyclical nature of motor sales, this...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Is the Chairman saying motor homes should be exempt from VRT?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The departmental officials say they do not recall receiving that submission.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The amendments concern access to the disabled drivers and disabled passengers scheme which plays an important role in increasing the mobility of citizens with severe physical disabilities. The scheme is a significant tax expenditure, costing approximately €65 million in taxes forgone and grant payments in 2016. This figure does not include the revenue forgone to the local government...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: The taxation treatment of travel and subsistence expenses incurred by self-employed individuals is well established by provisions contained in tax law and principles laid down in case law. The general position is that travel expenses incurred in furtherance of business are deductible, whereas expenses incurred in travelling between work and home are not. In regard to...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: I shall read an additional note. I am aware that, as regards independent professional contractors, this is an issue the Deputy raised with the previous Minister, Deputy Noonan. We have received a submission from officials which followed on from a meeting they had with a representative organisation for this sector. One of the points raised in that submission was that it would perhaps be...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (9 Nov 2017)
Michael D'Arcy: Yes, it must go to Cabinet.