Results 20,401-20,420 of 35,894 for speaker:Pearse Doherty
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: It is our treaty as well. I know it is in the middle of renegotiation. It will be interesting to see how the new US Administration will deal with that. The point I am making is that we have established a practice that income from property can be treated differently. We have primary taxing rights, regardless of where the individual resides. All the other countries have secondary...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: I disagree.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: There are other issues but I will come back to them another time.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: I would prefer to finish the section instead of having to come back to it again with a second wind.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: I have a couple of questions on IREF assets. Can the Minister of State tell us if nursing homes, private health care investments and renewable energy, such as wind turbines, will be seen as IREF assets?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: Does that mean the income generated by a nursing home will be treated that way if the nursing home is held by----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: What about private health care?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: But it will not be rental income, it will be trade income. It is only if the private nursing home is rented out to another operator who operates the facility. What is the position with private health care facilities?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: If fees were paid as opposed to rent to the fund which owns of the property, it would not be deemed an IREF asset, would it?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: By the operator of the health care clinic.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: To the fund that built the health care facility.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: If a fund owns or develops a private health care facility, how will that be treated in terms of an IREF asset?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: I am talking about funds investing in private health care.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: Obviously, someone else would operate the private health care facility. Therefore, will that part of the fund's portfolio which includes a number of private health care buildings or facilities be deemed IREF assets?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: What is the position with renewable energy?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: Windmills and wind farms. Will they be deemed IREF assets as well?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: That is fine. I just wanted clarification on that.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: On what?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: Okay. I thank the Minister of State. I turn to the dividend withholding tax. What is being proposed is a 20% withholding tax for foreign investors on dividends and that relates only to IREF assets. As such, we are only talking about property. I want to talk about foreign investors with shares in Irish registered companies. I refer to the hypothetical situation in which they are held by...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Pearse Doherty: What if it was not held in an ICAV but was held in a company? For example, what if Siteserv or any company simply paid out dividends to the investor? What if Siteserv was paying out dividends to an investor - an owner - in the USA? If it was paying dividends out directly, where would they be taxed?