Results 4,761-4,780 of 5,388 for speaker:John Deasy

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: We are talking about Pfizer, a $160 billion company that was paying tax at 35% in America, which is the highest corporation tax rate in the world. The reason that it comes to Ireland is because of the 12.5% tax rate. The estimates I have seen of the tax payable by the company to the Irish Exchequer range from €400 million to €600 million per year.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: I agree with Mr. Moran. The United States tax rate is 35% and this is more to do with its repressive corporation tax regime than with our low corporation tax rate at 12.5%. That is their problem. If companies make these decisions they have to be a bit more inward looking with regard to how they treat the taxation of those companies and why they are leaving. If there is a choice between...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Has the Department been contacted by the United States Treasury?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Beside what the Minister has said, that there are negative connotations around this issue with companies leaving jurisdictions like the US and coming to Ireland, I have no great difficulty with this if it is as Mr. Morgan said in respect of factors such as push versus pull. We have become too sensitive about the Irish corporation tax regime, as the issue has more to do with the regimes in...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Has Mr. John McCarthy any information on the matter?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Does it account for the bump in the-----

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: That surprises me. I have rough figures in my head on what these companies were worth, what they paid in tax and what they will pay in tax here. The reason they came here was to pay tax here. That is a very considerable amount of money. How could Mr. McCarthy say that?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: The answer-----

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: They may not have figured it out properly. Is that what Mr. McCarthy is saying? Its negligible or not-----

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Yes, I get that.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: I understand but surely there is a windfall for Revenue. Is the Department of Finance saying that there is not?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: The point Mr. Moran has made is that the saving is-----

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: -----made on the US side-----

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: -----predominantly.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: And, on our side, it is negligible with regard to the windfall from these tax inversions.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Yes.

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Yes. As far as the IBRC is concerned, under the public spending code, as Mr. Watt explained when he last appeared before the committee, when Exchequer moneys are expended there needs to be an analysis and an assessment done on any particular measure. Was the Department involved in any respect when it came to the IBRC inquiries? Was the Department involved in putting together that...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Does the Department have a role in analysing the cost of these commissions of inquiry at all?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: Does the Department have a role?

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

John Deasy: I raise this because-----