Results 6,741-6,760 of 15,555 for speaker:Eoghan Murphy

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: If there is a particular sector that feels the provision is directed at it, people should know it is an enabling provision and there is more than enough time for structures to be changed in order that there would not be any concern if the Revenue Commissioners did a review to find if excessive VAT recovery had been achieved in a systematic way. Nothing is happening on 1 January 2017 with...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 124: In page 72, between lines 4 and 5, to insert the following: “Amendment of section 86 of Principal Act (exemption relating to certain dwellings) 51. The Principal Act is amended by substituting the following for section 86: “Exemption relating to certain dwellings 86.(1) In this section— ‘dwelling house’...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: This will be in effect from the passing of the Finance Bill.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: During the financial crisis, it proved necessary to reduce the threshold at which capital acquisitions tax applied to preserve the level of revenue as far as possible. In budget 2016, the Minister was in a position to begin a process of reversing these reductions. He increased the group A threshold from €225,000 to €280,000. He also saw this increase as the start of a process...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I understand the reason the Deputy is proposing that the date for the implementation of this measure be brought forward. However, we have estimated a yield of €30 million in the budgetary arithmetic for the measure in 2017. If insufficient time is given for the initiative to work then any change in the date could prove counterproductive in that regard. In addition, when dealing with...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: We do not have a timeline in respect of how long they will be in place but we can provide on to the Deputy. To speak to the amendments and the section, the intention is to pursue these people and to get this tax in. A voluntary disclosure regime makes it far easier on the part of Revenue to collect that tax. In so far as the date is concerned, 1 January is too soon if we want to be able...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: It is a long-standing provision.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I thank the Deputy. He is correct, it is not an amnesty. People coming forward under the voluntary disclosure regime will still have to pay their taxes and any fines that might also be added - in other words, taxes, penalties and interest - under the voluntary process. The Chairman of the Revenue Commissioners has expressed his serious concern that shortening the timeframe to a date...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 135: In page 75, to delete lines 35 to 40 and substitute the following: “(i) in paragraph (a), by substituting “a specified sum or an adjusted specified sum (within the meaning of subsection (2C) or (2D)), as the case may be, under subsection (2)(c), including as applied by subsection (2C) or (2D)” for “a specified sum under...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: That is the intention of the amendments.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 136: In page 76, to delete lines 4 to 43, and in page 77, to delete lines 1 to 7 and substitute the following: “ “(2C)(a) In this subsection— ‘adjusted specified sum’ means the total claim sum less the qualifying disclosure sum; ‘disclosing person’ means a person who makes a qualifying disclosure; ‘qualifying...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 137: In page 77, to delete lines 9 to 12 and substitute the following: “(i) by deleting paragraph (b), (ii) in paragraph (c)— (I) by substituting “the specified sum or the adjusted specified sum (within the meaning of subsection (2C) or (2D)) referred to in paragraph (c) or (d), as the case may be, of subsection (2), including as applied by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 138: In page 77, to delete lines 13 to 21 and substitute the following: “(d) in subsection (4A)— (i) in paragraph (a)— (I) in the definition of “the consumer price index number relevant to a year”, by substituting “mid-December 2011 was 100” for “mid-December 2001 was 100”, (II) by substituting...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 139: In page 77, line 26, after “(2C)” to insert “or (2D)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 140: In page 77, line 27, to delete “other than paragraph (d)” and substitute “other than paragraph (c)(ii)(II) and subparagraphs (i), (ii) and (iii) of paragraph (d)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 141: In page 77, line 29, after “accept” to insert “(including a sum that is the full amount of their claim)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Eoghan Murphy: I move amendment No. 142: In page 77, line 32, to delete “Paragraph (d) of subsection (1) comes into operation” and substitute the following: “Paragraph (c)(ii)(II) and subparagraphs (i), (ii) and (iii) of paragraph (d) of subsection (1) come into operation”.

Finance Bill 2016: Order for Report Stage (22 Nov 2016)

Eoghan Murphy: I move: "That Report Stage be taken now."

Finance Bill 2016: Report Stage (22 Nov 2016)

Eoghan Murphy: I thank the Deputies. The Government has no plans to introduce a wealth tax, although all taxes and potential taxation options are, of course, constantly reviewed. Wealth can be taxed in a variety of ways, some of which are already in place in Ireland. Capital gains tax, CGT, and capital acquisitions tax, CAT, are, in effect, taxes on wealth, as they are levied on an individual or...

Finance Bill 2016: Report Stage (22 Nov 2016)

Eoghan Murphy: There are already a number of taxes on sources of wealth, as I outlined in my initial contribution. If we did not have an environment that was pro-investment, people would not invest. That is how the Government plays its role in trying to create jobs for our citizens. In response to Deputy Paul Murphy, Ireland is not a tax haven. Nobody knows the future but it is precisely because of the...