Results 5,061-5,080 of 6,295 for speaker:Michael D'Arcy

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (20 Sep 2018)

Michael D'Arcy: I have answered the question. Ghana approached Ireland in 2014. We finished the negotiations in 2016 before the multilateral convention was concluded. We are now concluding the multilateral convention and we are satisfied that we are not at a minimum standard by any manner of means. We accepted all of the minimum standards and the best practice standards. We have some concerns about a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (20 Sep 2018)

Michael D'Arcy: Can the Chairman furnish me with the document because my Department did not receive the submission?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Agreements: Motions (20 Sep 2018)

Michael D'Arcy: That is fine. We will respond.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: I move amendment No. 1:In page 5, line 13, to delete "This Act shall come into operation" and substitute "This Act, other than Part 7, shall come into operation". Amendments Nos. 1 and 8 to 21, inclusive, are grouped together and are required to extend the mortgage interest deferral relief for local property tax liabilities for one year in respect of 2019 local property tax liabilities and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: That is being considered in the overall context of the LPT. It was not considered for this aspect but as the Deputy is aware, the report is due shortly so it is being considered in that context. It is simple interest being charged also. It is not compound interest. However, I hear the Deputy's point about the 4%.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: I am suggesting it is being considered.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: To put the actual number on the record, the number of properties on which people pay via their employer is 115,000. I am not able to deduce from that number the reason people choose that method. I am sure there is a range of methods for which some people opt for whatever reasons, but I do not believe the Deputy can deduce it either. In terms of the income thresholds-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: Of non-compliance.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: I am sorry. The mandatory deduction figure is 97,000-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: That is the mandatory deduction figure but the overall figure is almost 116,000. Those are the numbers. That is people choosing not to pay.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: That is correct. They chose-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: The Deputy is deducing that they are choosing not to pay. I cannot deduce that. It is a matter for people to pay. This is the method by which it is collected. I am sorry; I am incorrect. The total number of properties is 213,000. The figure for voluntary deductions is 115,000 and in terms of the number of mandatory deductions, 97,000 are paid via their employer. The actual number is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: I am not able to deduce that; the Deputy is, however.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: There are 59,000 people below the income threshold, which is €15,000 for an individual or €25,000 for a couple. I cannot comment. The tax is the tax. It is in place. I believe the collection rate is 98%. I know the Deputy disputes that figure and the tax. He has always done so. He is fairly consistent in that, but it brings in approximately €500 million in total....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: The highest form of wealth in Ireland by a country mile is in property. Multiple times deposits, share value and every other section of wealth is property. The State collects €0.5 billion out of that significant wealth. The Deputy disagrees with that. He, and his colleagues on the left, are the few people who dispute that. This is a wealth tax. As I said, the highest form of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: There are 1.92 million properties in Ireland. The current figure for involuntary payments is 97,018. In 2017, it was 90,000 and in 2016 it was 80,000. On the general question, Ireland was the only jurisdiction in the EU that did not have a property tax. Maybe Ireland was right and all of the other countries were wrong in terms of the collection of tax from property or maybe it is the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: The number of deferrals in 2016 was 55,000. In 2017, it was almost 59,000 and in 2018 it is 57,700, which means deferrals are decreasing. I do not have the percentage in this regard because during that period the number of units could have been greater. As I said there are currently 1.92 million properties but this increases or decreases as new units come on stream and some are excluded. ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: The figure for 2015 is 46,000.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: I cannot. I also made the point that from 2015 to 2018 the number of people in employment has increased such that we have almost full employment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Home Building Finance Ireland Bill 2018: Committee Stage (20 Sep 2018)

Michael D'Arcy: I would expect that.