Results 10,901-10,920 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Agreements (8 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 96 and 97 together. I am informed by Revenue that there are currently 29 open Mutual Agreement Procedure (“MAP”) cases. These relate to adjustments raised by tax authorities in Tax Treaty partner countries in respect of transfer-pricing or the attribution of profits to permanent establishments. Some of these cases are at an early stage and...

Written Answers — Department of Finance: Tax Settlements (8 Nov 2017)

Paschal Donohoe: It is accepted that it will take time to move through the significant number of appeals that are on hands in the Tax Appeals Commission (“TAC”). These appeals fall into three categories: (i) Those that have been notified directly to the TAC, following its establishment in March 2016; (ii) Those that were submitted to the Revenue Commissioners prior to the commencement...

Written Answers — Department of Finance: Tax Appeals Commission (8 Nov 2017)

Paschal Donohoe: The Tax Appeals Commission (TAC) is an independent statutory body whose main task is hearing, determining and disposing of appeals against assessments and decisions of the Revenue Commissioners concerning taxes and duties in accordance with relevant legislation. I am advised by Revenue that it is always willing to engage in meaningful settlement discussions with appellants, even after an...

Written Answers — Department of Finance: Tax Appeals Commission (8 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 100 and 101 together. I am informed by the Tax Appeals Commission that, as of 3 November 2017, 106 hearings have taken place since the establishment of the Tax Appeals Commission in March 2016, to include a number of case management conferences. I am advised that case management conferences can be held for a number of reasons however they are primarily to...

Written Answers — Department of Finance: Exchequer Returns (8 Nov 2017)

Paschal Donohoe: There is no clear guide as to the impact of different growth rates of GDP, GNP or GNI on general government revenue as the exact effect is a function of the composition of growth. For example, increased economic activity driven by exports does not have as significant an impact on the public finances as, for example, domestically driven growth. As a general rule of thumb, assuming no change...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (8 Nov 2017)

Paschal Donohoe: The Help-to-Buy (HTB) scheme is available to individuals who sign a contract during the period 19 July 2016 and 31 December 2019. - S. 477C(3) of the Taxes Consolidation Act 1997 (Help to Buy) requires that an applicant "..entered into a contract with a qualifying contractor for the purchase by that individual of a qualifying residence..." in the "qualifying period". - S. 477C(1)(a)...

Written Answers — Department of Public Expenditure and Reform: Ministerial Meetings (8 Nov 2017)

Paschal Donohoe: In considering the particular matter regarding entitlements for community service supervisors, regard must be had to the costs and precedent of such an arrangement were one to be created. A scoping exercise is currently being finalised by officials in this Department and should be completed later this year. Due to unforeseen circumstances, it was necessary to postpone the...

Written Answers — Department of Public Expenditure and Reform: Brexit Issues (8 Nov 2017)

Paschal Donohoe: There is no doubt but that Brexit will pose significant challenges for Ireland. The Government is committed to addressing these challenges, to mitigating the impacts and to maximising the available opportunities. Last May the Government published a document setting out in detail its approach and the structures it had put in place to ensure a strategic and whole-of-Government response. Within...

Written Answers — Department of Public Expenditure and Reform: Brexit Issues (8 Nov 2017)

Paschal Donohoe: The exact nature of the relationship that will exist between the EU and the UK following Brexit is yet to be agreed. The impact of Brexit on Ireland will depend on the outcome of the complex negotiations still underway. While this poses challenges in planning our response, it is important to note that Ireland’s economy is in a strong position to deal with these challenges. In...

Written Answers — Department of Public Expenditure and Reform: Labour Court Recommendations (8 Nov 2017)

Paschal Donohoe: In considering the particular matter referred to, regard must be had to the costs and precedent of such an arrangement were one to be created. A scoping exercise is currently being progressed by officials in this Department and should be completed later this year. A meeting of the Forum has been arranged to discuss the scoping exercise in the coming weeks. It continues to be the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I thank the Chairman but I spoke on the amendment last night.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 11:In page 15, to delete lines 9 and 10 and substitute the following:“other than— (I) on the market known as the Enterprise Securities Market of the Irish Stock Exchange, or (II) on any similar or corresponding market of the stock exchange—(A) in a territory other than the State with the government of which arrangements having the force of law by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 12:In page 19, line 3, to delete “tax.”.” and substitute the following:“tax.(12) Where this section applies relief under Part 16 shall not apply.”.”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I spoke on the amendment last night but I can speak more broadly on the section now. Section 10 inserts a new section after section 128E to provide for the introduction of a new share-option based relief for employees of SME companies, namely the key employee engagement programme, KEEP. It is designed to support SMEs in Ireland in competing with larger enterprises in the recruitment and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: We estimate that over the medium term it will cost approximately €10 million. We do not expect that cost to be realised next year. We expect that the setup period for many companies will be, perhaps not prolonged, but into next year. Beyond that, when the scheme is ongoing, the cost will be approximately €10 million.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: Yes. The two main criteria in this regard are that the enterprise must employ fewer than 250 persons, as the Deputy has just said, and that it must have an annual turnover not exceeding €50 million or an annual balance sheet in total not exceeding €43 million. In addition, we have laid down a number of trading activities which will be excluded from the KEEP incentive. This...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: Yes, that certainly sounds feasible.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: That is correct. It is a tax expenditure, so there is a cost to us for doing it, but much of the engagement we have had with small and medium-sized companies that are active in particular sectors within our economy point to the fact that companies far larger than them have share option schemes that they are able to fund by their scale. They have indicated to us that a scheme such as this...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: My experience, having dealt with this issue in recent months, is that the availability of share option schemes has changed within our economy. It rarely includes, to be fair to the Deputy's point, people on low incomes - I acknowledge that - but one of the developments that has occurred is that it now includes more and more middle-income employees, depending on the kind of industry they are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: That is correct. The Bill states "ordinary share".