Results 1-20 of 23 for segment:1722044 in 'Dáil debates'

Tax Code. (17 Feb 2004)

Dan Boyle: Question 98: To ask the Minister for Finance if the amendments contained in section 13 of the Finance Act 2002 were drafted in response to requests from Eircom ESOT for retrospective changes to the tax treatment of the income and capital gains from the preference share offering that the Valentia consortium issued to help secure the takeover of the company; and the estimate of the revenue...

Tax Code. (17 Feb 2004)

Charlie McCreevy: Section 13 of Finance Act 2002 provides that the transfer and appropriation of securities other than ordinary shares to the beneficiaries of an employee share ownership trust, ESOT, or approved profit sharing scheme, APSS, in the circumstances of certain takeovers may take place in a manner which preserves the tax benefits to the participants. The point at which income tax is forgone is when...

Tax Code. (17 Feb 2004)

Dan Boyle: I take issue with the Minister for Finance, who seems to accept that it is in order for the State to involve itself, through changes in the tax code, in sweetening deals in the commercial sector between private entities. To what extent was the public interest served by these changes? It seems the only beneficiaries, apart from the individual shareholders, was the Valentia consortium which...

Tax Code. (17 Feb 2004)

Charlie McCreevy: Every Finance Act since 1997 has included some changes to employee share ownership plans, all of which have been done at the request of the ESOTs which comprise the workers involved and their representatives. Even this year's Finance Bill contains a change to ESOP legislation to accommodate the employees of the former Irish National Petroleum Corporation. The change did not have the effect of...

Tax Code. (17 Feb 2004)

Dan Boyle: The Minister has still not answered the question as to how the public interest or long-term communications policy was served. Why was this section discussed in private session on Committee Stage of the Finance Bill 2002? If the Minister was confident with this provision, why did the committee feel the need to go into private session? Was this decision the Minister's alone or did he consult...

Tax Code. (17 Feb 2004)

Charlie McCreevy: On Committee Stage, that was done at the request of the former Deputy and now Senator Derek McDowell. It was done to explain the intricacies of the provision and specifically to explain that the matter was the subject of a request under the Freedom of Information Act, which had been appealed. The Deputy can ask Senator McDowell and others who were present to outline what I said about the...

Tax Code. (17 Feb 2004)

Séamus Pattison: We must move on now.

Tax Code. (17 Feb 2004)

Charlie McCreevy: This change was made to benefit the employees represented by the ESOT, and all the changes that have been made to legislation affecting ESOTs through the years since Deputy Quinn first introduced ESOT legislation in the Finance Act 1997 have all been done at the request of the workers to preserve the tax benefits for them alone. Nobody from Valentia or the other consortium made any contact...

Tax Code. (17 Feb 2004)

Paul McGrath: Question 99: To ask the Minister for Finance the timescale for the decisions on emissions trading and carbon tax; his plans to avoid adverse impacts on competitiveness and a maximum reduction in carbon emissions associated with these schemes; and his views on the approach of ring-fencing revenue from this tax for the purposes such as reducing employment taxes, compensating those on low...

Tax Code. (17 Feb 2004)

Charlie McCreevy: As the Deputy will be aware, following my Budget Statement regarding carbon energy taxation last December, I published a carbon energy tax consultation paper prepared by my Department on 31 July last year. This consultation paper was designed to facilitate discussions on the introduction and design of the carbon energy tax while recognising that there are divergent views on the issue....

Tax Code. (17 Feb 2004)

Richard Bruton: Is it the case that the Cabinet has already approved the emissions trading aspect of the carbon tax? Is it the case that under the approved system of emissions trading, those responsible for large amounts of carbon emissions will not need to alter their operations significantly over the coming years? Will it be the case, therefore, that small business will be obliged to pay the carbon tax...

Tax Code. (17 Feb 2004)

Charlie McCreevy: The allocation of quotas for emissions trading is a matter for the Minister for the Environment, Heritage and Local Government, Deputy Cullen. On 5 February this year the Minister made announcements in this regard. It was envisaged in the consultation paper that those covered by emissions trading would not also be subject to the carbon energy tax.

Tax Code. (17 Feb 2004)

Richard Bruton: Precisely.

Tax Code. (17 Feb 2004)

Charlie McCreevy: I am not saying that is what will happen, only that it is envisaged in the consultation paper. The matter of emissions trading has been raised recently by my colleague, the Minister for the Environment, Heritage and Local Government. He is doing this now because we are required under EU law to have our submissions on emissions trading with the Commission before 31 March this year. Other...

Tax Code. (17 Feb 2004)

Richard Bruton: Let us be honest: this is not a race at Cheltenham. We are not trying to forecast what might happen by considering percentages one way or the other.

Tax Code. (17 Feb 2004)

Charlie McCreevy: This day next month.

Tax Code. (17 Feb 2004)

Richard Bruton: These decisions will intimately affect people's lives, whether one is poor or is in a business that will be affected. The Minister is saying he will effectively give large companies free trades. They will have coupons which cover 97% of their prospective uses. They will make virtually no adaptation to reduce energy emissions. Is he not proposing a carbon tax that will hit small business and...

Tax Code. (17 Feb 2004)

Charlie McCreevy: The emissions trading regime has been agreed in Europe.

Tax Code. (17 Feb 2004)

Richard Bruton: The percentages are the Minister's.

Tax Code. (17 Feb 2004)

Charlie McCreevy: Each country is obliged to provide a format for its own emissions trading regime. That is what my colleague the Minister, Deputy Cullen, announced just over a week ago. It was envisaged that those covered by the emissions trading regime would not be subject to carbon energy tax. The questions the Deputy raised about the carbon energy tax are all dealt with in the published document and...