Results 4,581-4,600 of 6,295 for speaker:Michael D'Arcy

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: The amendment brought forward on Committee Stage to section 135 of the Taxes Consolidation Act, in introducing a new subsection (3A), is intended to counter a specific tax avoidance scheme which has been uncovered by Revenue. The scheme involves individuals avoiding a liability to income tax where a company indirectly buys back shares from a shareholder and the purchase is funded from the...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: I just cannot let that go. Deputy Mattie McGrath has now impugned the entire Judiciary of this State.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: He has impugned them all. The Acting Chairman, Deputy O'Rourke, should ask the Deputy to withdraw his statement. It is not the practice for Members of the Legislature to criticise the Judiciary in this House.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: The Deputy mentioned cases.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: Many charges have been made in the context of the amendment before us. The Minister, Deputy Donohoe, has never met with Capita. Perhaps it would be helpful to the Chair of the Oireachtas Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach, Deputy McGuinness, for me to let him know that I subsequently met representatives of Banking and Payments Federation Ireland and...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: I will address several points as best I can. Companies are entitled to carry losses forward by two years. As Deputy McGuinness knows well, a referendum went to the people on compellability. It was turned down by the people. The Department of Finance does not have the authority to compel any financial institution to attend committees of the House. That is the reality.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: We have committed to providing a technical paper. We are not putting it into the Finance Bill. Like the other reports, we aim to get it in as quickly as possible in order that it will be made available. We will have it done within a six-month period. I want to finish on one point. Deputy Burton always amuses me. It is as if she had never been in Cabinet and was never Tánaiste.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: It is as if the Labour Party had never been there at all.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: Did Deputy Burton only beam down last week? Well done to her.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: We have not met them.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: I move amendment No. 45:In page 41, to delete line 39, and in page 42, to delete lines 1 to 4 and substitute the following:“25.(1) Section 29 of the Principal Act is amended in subsection (1A)(c)(i) by inserting “or other assets (apart from relevant assets)” after “money”.”. These amendments relate to sections 25 and 27 of the Bill as amended on...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: The focus of the amendment introduced in the Finance Bill was to prevent the exclusion for unquoted shares whose value is derived from land in this country applying where a company obtains a so-called soft listing. Gains in respect of sales of such shares by a non-resident person are not currently liable to capital gains tax. The words "actively and substantially traded" were included in...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: I cannot give that commitment. As Deputy Doherty knows, I am the junior Minister in the Department of Finance. On every occasion when we have raised the issue of reports during this Report Stage debate we have committed to trying to make sure each report is available in good time so the members of the Oireachtas Joint Committee on Finance, Public Expenditure and Reform or spokespersons will...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: I move amendment No. 46:In page 42, to delete lines 26 to 29 and substitute the following:"27. (1) Section 980 of the Principal Act is amended by inserting the following after subsection (2):".

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: Deputy Michael McGrath has proposed that I prepare a report within six months of the passing of this Finance Bill on the possible extension of the capital gains tax relief for farm restructuring to stamp duty. He stated on Committee Stage that, while he had framed his amendment in the form of a report, he hoped there could be a Report Stage amendment that would put into effect a stamp duty...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Michael D'Arcy: I move amendment No. 48: In page 46, to delete lines 36 to 40, and in page 47, to delete lines 1 and 2 and substitute the following:31.(1) Section 613 of the Principal Act is amended⁠— (a) in subsection (1) by inserting the following after paragraph (c):“(ca) any sum obtained by means of compensation under the 2017 Voluntary Homeowners Relocation Scheme administered by...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Michael D'Arcy: Before I respond on the amendments, I wish to advise that a Clerk's correction will be required in regard to an error on page 53, line 4, of the Bill. The reference to "No. 2" on line 4 is incorrect and needs to be deleted. This has been checked and clarified by the Bills Office. I propose to take amendments Nos. 60 and 61 together. To respond directly to the Chairman of the finance...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Michael D'Arcy: We intend to move on it immediately.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Michael D'Arcy: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. Under Article 110 of the VAT directive, member states may retain the zero rates on goods and services that were in place on and from 1 January 1991 but cannot extend the zero rate to new goods and services after that date. Since the mid-1980s, Irish VAT law has defined...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Michael D'Arcy: Revenue has retrieved the files relating to the issue as far back as 1981. Some people in the House were not even born then. They are currently reviewing the information contained therein. In 1984, clothing and footwear sizes were determined after consultation with footwear trade interests at manufacturing and distribution levels. The panel included the Federation of Irish Footwear...