Results 20,781-20,800 of 32,978 for speaker:Catherine Connolly

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: What does Mr. Cody mean?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: Does Mr. Cody look at the return achieved in terms of tax?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: They may well pay an awful lot of money, but the difficulty for me is the context. Wealth is not assessed, but income is. While Mr. Cody might say that group has a very high income tax level, there is significant variation. On top of that there is the question of wealth and assets that are not included in the income measurement unless the owners derive income from that wealth.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: I have seen those facts and the percentages relating to them. If one is going to make a statement that a certain group of people pay high taxes compared with the ordinary industrial wage or a TD, one does not give the whole picture because the wealth of those individuals is being left out of it.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: I understand what Mr. Cody can deal with, but when he goes further and says that they are paying very high taxes, I then have to put context on that.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: I want to ask some specific questions about mandatory disclosure in a minute, depending on the time I have left. I refer to the chapter on corporate taxation. In Mr. Cody's opening contribute, he said that the Comptroller and Auditor General made no recommendations, and he is correct. However, the Comptroller and Auditor General highlighted a number of issues, as did the Chairman. We made...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: I understand that.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: I understand that.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: Listen to me, I-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: We gave this a lot of time and we have done a report under the guidance of the Chairman. I understand Mr. Cody's position; there is not a legislative basis and it does not have to be done but would common sense not indicate it should be looked at to tease out the information so we have maximum information? Rather than putting everything under losses, it could be split up into what the...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: It is an all-encompassing figure.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: I understand. We are-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: We have said that. I am asking Mr. Cody whether, on a common sense basis, I am being ridiculous in saying we should look at this practically-----

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: Paragraph 19.18 of the Comptroller and Auditor General's report refers to eight companies and states, "Although some of those companies are not generating trading losses, their level of capital allowances available against profit means they feature in the top 24 companies using loss relief". They are not making a loss but they are down as making a loss because of this approach. In the...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: The Revenue Commissioners has the breakdown.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: The figures on tackling tobacco smuggling are fascinating. There is a 7% detection rate. The most significant figure is the amount going back to the Government. It is 79% of each packet of cigarettes. Total excise and VAT now represents just over 79% of the retail price per pack in Ireland. So 79% of the cost of every packet of cigarettes is going back to the Government. There is a...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: It seems 13% of cigarettes consumed are illegal.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: The chapter from the Comptroller and Auditor General looked at the robustness of relying on one survey per year.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: Has it been dealt with already?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses (15 Nov 2018)

Catherine Connolly: We will all be smoking before the end of the day.