Results 20,741-20,760 of 32,864 for speaker:Paschal Donohoe

Priority Questions: Corporation Tax Regime (30 Jan 2018)

Paschal Donohoe: On the Deputy's question about the common consolidated corporate tax base policy, I will continue to oppose such a policy move and will oppose any change in the decision-making process in that policy area. My objective overall is, as I said, to ensure the work of the European Union and the OECD is aligned. I say this because I believe the best way to avoid trading difficulties or tax...

Other Questions: Tax Agreements (30 Jan 2018)

Paschal Donohoe: Ireland is a strong supporter of international tax reform. In recent years the OECD has played the leading role in developing new, globally accepted international tax standards. To ensure all countries participate on an equal footing, the BEPS inclusive framework was established to lead global tax reform efforts. The framework has over 110 members from all over the world, including...

Other Questions: Tax Agreements (30 Jan 2018)

Paschal Donohoe: I do not accept the analysis put forward by some organisations which described Ireland as a tax haven. Ireland does not meet any of the criteria as laid down by the OECD to be described as a haven. I have said I will meet Christian Aid to have a discussion with it because while I disagree with it, I am in favour of debate and dialogue. I intend to meet it in the coming week. On the...

Other Questions: Tax Agreements (30 Jan 2018)

Paschal Donohoe: As I said, I disagree with the assessment the organisations have offered, but I still think it is a good idea to meet to have a discussion and I intend to do so some time in February. I have outlined the reasons I think the chances of the United Nations expanding its power in this area are low. I certainly do not think we should put our efforts into setting up a new multilateral body on a...

Priority Questions: Pension Provisions (30 Jan 2018)

Paschal Donohoe: I agree with much of the Deputy's analysis. The levels of private pension coverage are not what we want them to be because many citizens face the prospect of only having the State non-contributory pension on which to depend in the future. The other major difference between them and previous generations is that an increasing number of individuals will be renting. Therefore, unlike their...

Priority Questions: Pension Provisions (30 Jan 2018)

Paschal Donohoe: The Deputy makes two fair points. First, if we are to set up a structure to incentivise citizens to leave more aside for the future, we must avoid a situation where the funds they will leave aside will be eroded by the fees and charges levied by those who will manage the funds. I am aware of that matter. If we are to ask people to set aside what could be a noticeable amount of their...

Priority Questions: Corporation Tax Regime (30 Jan 2018)

Paschal Donohoe: A number of EU member states are seeking new approaches to taxing large digital businesses that operate across borders. Concerns focus on the ability of a company to have many users or customers in a country without being liable to corporation tax in that country. Leaders at the European Council recognised the importance of a global approach to the issue of digital taxation. Finance...

Priority Questions: Banking Sector (30 Jan 2018)

Paschal Donohoe: Permanent TSB is playing an important role in providing much needed finance to our housing market. While the management and board of the bank have further work to do in addressing legacy issues, the bank is making good progress and has a strong franchise that can prosper in a growing economy. The good progress made is demonstrated by the bank’s trading performance in 2017...

Priority Questions: Banking Sector (30 Jan 2018)

Paschal Donohoe: As I said a moment ago it is not my objective to be the long-term owner of Permanent TSB on behalf of the Irish taxpayer. In the first instance, it is a matter for the board to adjudicate on whether any potential purchaser is in the best long-term interests of the company. The objective I want to pursue from a banking policy point of view is the strengthening of competition within the...

Priority Questions: Banking Sector (30 Jan 2018)

Paschal Donohoe: I agree with the Deputy. I also want a long-term viable future for Permanent TSB. I believe it is on the path to achieving such a future. Its recent trading performance indicates that very clearly. As the Minister who represents the shareholding the Irish taxpayer has in the bank, which as I said a moment ago is still valued at €800 million, it is not appropriate for me to give an...

Priority Questions: Pension Provisions (30 Jan 2018)

Paschal Donohoe: Perhaps I will answer the two specific questions which the Deputy put to me as part of my supplementary replies. In respect of the broad question which the Deputy tabled, she will be aware that a number of State bodies have a role in the broad area of pension policy. The Minister for Employment Affairs and Social Protection is responsible for State pension policy. As Minister for...

Priority Questions: Tax Compliance (30 Jan 2018)

Paschal Donohoe: As the Deputy will be aware, I am not at liberty, nor is it appropriate for me, to discuss the tax affairs of individual companies. With regard to the tax provision mentioned, section 291A of the Taxes Consolidation Act 1997 was introduced in 2009 to provide relief in the form of capital allowances against trading income on the capital expenditure incurred by companies on the provision...

Priority Questions: Tax Compliance (30 Jan 2018)

Paschal Donohoe: It would not be appropriate to comment on what the court may do in respect of adjudication on this matter. We have made it clear that we disagree with the Commission's assessment but while we disagree with its assessment and will defend ourselves in court, we will collect the money that the Commission says is due. We are in the final stages of a procurement process in respect of who will...

Priority Questions: Tax Compliance (30 Jan 2018)

Paschal Donohoe: The Deputy is conveniently ignoring the fact that I have changed the allowances in respect of how intellectual property assets should be accounted for. I made the change on budget day and it has been legislated for through the Finance Act. I categorically reject any suggestion that the Revenue Commissioners or I are engaged in the kind of activity the Deputy is alleging and if there are...

Written Answers — Department of Finance: Insurance Costs (30 Jan 2018)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group was established in July 2016 to identify and examine the drivers of the cost of insurance and to recommend short, medium and long term measures, legislative and otherwise, to address the issue of increasing insurance costs, taking account of the requirement for the need to ensure a financially stable insurance sector. The Working...

Written Answers — Department of Finance: European Central Bank (30 Jan 2018)

Paschal Donohoe: At the Eurogroup meeting of Eurozone Finance Ministers on 22 January, the Eurogroup President initiated the procedure for the appointment of a new Vice-President of the European Central Bank with a call for candidacies. The term of the incumbent, Vítor Constâncio, ends on 31 May 2018.  Other board member appointment do not arise until 2019. With regard to the position of...

Written Answers — Department of Finance: Motor Insurance Costs (30 Jan 2018)

Paschal Donohoe: I propose to take Questions Nos. 82, 93 and 108 together. The Cost of Insurance Working Group’s Report on the Cost of Motor Insurance was published in January 2017 and makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, which are set out in an Action Plan.  In line with the commitment to publish quarterly update reports on the...

Written Answers — Department of Finance: State Aid Investigations (30 Jan 2018)

Paschal Donohoe: Notwithstanding the appeal that the Government has lodged in the Apple State Aid case, Ireland is required to comply with the binding articles of the Commission’s Final Decision and to recover the alleged aid from Apple. Irish officials are continuing this work to ensure that the State complies with all our recovery obligations as soon as possible.  The Commission has...

Written Answers — Department of Finance: State Aid Investigations (30 Jan 2018)

Paschal Donohoe: I propose to take Questions Nos. 84 and 94 together. In late 2015, a complaint was submitted to the Competition Directorate of the European Commission (DG Comp) by a small number of property developers - including some former NAMA debtors - alleging that there may be State aid implications to NAMA's providing financing for the development of commercially viable residential...

Written Answers — Department of Finance: Legal Proceedings (30 Jan 2018)

Paschal Donohoe: A plenary summons in the proceedings entitled "David Hall v Minister for Finance, Ireland and the Attorney General" dated 8 December 2017 was received by the Department of Finance on 11 December.  The Chief State Solicitor's Office entered an Appearance for the respondents on 14 December, and has instructed counsel.  The plaintiff's Statement of Claim has not yet been...