Results 5,501-5,520 of 26,843 for speaker:Richard Boyd Barrett

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Global Taxation Architecture: Discussion with Director of the OECD Centre for Tax Policy and Administration (23 Jul 2013)

Richard Boyd Barrett: To close the double Irish loophole, is it not simple for Ireland, first, to stop giving tax breaks on intangible assets through the corporate tax system, which is the main reason we have a much lower effective tax rate than the nominal rate, as Mr. Saint-Amans has acknowledged? Second, we could simply change the law so any company that is incorporated here in Ireland pays tax here in...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Global Taxation Architecture: Discussion with Director of the OECD Centre for Tax Policy and Administration (23 Jul 2013)

Richard Boyd Barrett: To confirm, the rules around intangible assets in this country were introduced in the Taxes Consolidation Act 1997 and allow those things to be deductible against income earned by those companies. However, there is nothing to stop us changing those rules so that those things, for example, are not tax deductible and, similarly, there is nothing to stop us changing the rules around tax...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Global Taxation Architecture: Discussion with Director of the OECD Centre for Tax Policy and Administration (23 Jul 2013)

Richard Boyd Barrett: I want to ask Mr. Saint-Amans about his study on an effective tax rate, because earlier he referred to an effective tax rate of between 3% and 5% in this country as against the nominal rate of 12.5%. There is considerable dispute in this country about the rate.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Global Taxation Architecture: Discussion with Director of the OECD Centre for Tax Policy and Administration (23 Jul 2013)

Richard Boyd Barrett: I have a question. What does Mr. Saint-Amans consider to be the effective tax rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: I thank Mr. Duffy for coming before us. I agree with previous speakers that we could have done with detailed facts and figures for the mortgage resolutions that have been completed. I hope we can have this information to ensure we are not placed at a disadvantage. I will not labour the point made by Deputy Higgins, other than to add that a write-down to current market levels would not...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: It would be useful if we had figures. In that context, how much will Allied Irish Banks pay out to bondholders this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: Does Mr. Duffy have a rough idea?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: I do not have specific details in respect of AIB. It would be useful to know how much money all the banks are paying to bondholders. In that context, it is worth noting that all of the bondholders of the banks we bailed out are getting paid and making a profit.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: On the overall picture, the figures provided for mortgage resolutions were percentages of mortgage accounts. We heard a figure of 11.6%. Can we have numbers? I am trying to make rough calculations on the basis of the information provided. If, as I believe I heard Mr. Duffy state, AIB made 12,500 offers of solutions and this amounts to 27% of the relevant mortgages, can we conclude that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: Could it be more than 50,000 cases therefore?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: It is very difficult for me to compute these figures as Mr. O'Connor provides them here off the top of his head. I appreciate him answering the question, but it would be very helpful to receive these numbers and figures.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: Based on what Mr. O'Connor has said regarding the 8,600 offers AIB made in the second quarter, 5,000 of those customers have received threatening letters. Can we expect a similar ratio for all the other accounts that have not been dealt with yet, which could be based on what Mr. O'Connor has said amount to from 30,000 to 50,000 accounts? Can we expect a 60% ratio among these? Can we expect...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: Okay. It would be terrifying if it was not to decline. It is at a terrifying level.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: Of the 5,000 in question, Mr. Duffy has said that many of those have returned and sought engagement. How many?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: Some 15%, but based on that quarter's group unless that improves we could be looking at 4,000 repossessions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: There have been 439 voluntary disposals. Was the rest of these customers' debt written off or are they still lumbering under debt after returning their house?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Richard Boyd Barrett: My last question relates to split mortgages. Is it not obvious that the reason the bank is getting a low take up on split mortgages is because people do not see them as a solution? I heard of two such cases this week. For example, people who were working took out a mortgage for a former council house, for which they paid €400,000 and have had a split mortgage offered to them. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Richard Boyd Barrett: No, it is Deputy Donnelly first.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Richard Boyd Barrett: I thank Mr. Boucher and his team for coming in. I agree with him as opposed to Deputy Ó Ríordáin that we do not really need gestures. We need real action from the bank not just in terms of hard cash, although that is one side of it. The major issue is whether we can get the tens or hundreds of thousands of people in the country as a whole and the tens of thousands with whom...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Richard Boyd Barrett: Mr. Duffy revealed yesterday that whereas AIB had written off around €475 million, only €38 million of that was write-offs for residential mortgages and the rest was for the buy-to-let sector. In other words, the developers who were most guilty of getting us into this mess were getting write-offs while for the most part, ordinary home owners were not getting any forgiveness....