Results 20,941-20,960 of 35,894 for speaker:Pearse Doherty

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I did ask it.

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I asked if the Minister had any evidence within the Department and he does not. I want to ask the representative of the Revenue Commissioners about section 110. The Government's amendment will allow section 110 companies to mark to market. Is it Revenue's view that this has to be allowed such that capital gains accrued by such companies until 5 September will not be taxable?

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: Sorry, this is to the Revenue Commissioners.

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I am directing it at the Revenue Commissioners.

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I am not questioning the rate. In the opening statement, it was stated that the Revenue advises in regard to loopholes, avoidance and so on. Is it the Revenue's view that the loophole, as we will want to call it, in terms of section 110 cannot be retrospective and that one has to allow for the mark to market opening?

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: This is not retrospective taxation. It is allowing the Revenue to mark to market. It is as if we were to increase capital gains tax in this year's budget, in which case we would not say that any gain accrued in terms of an asset could be written off.

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: The Revenue Commissioners issued two Revenue opinions to section 110 companies in regard to property in 2012. As such, the Revenue Commissioners were aware that section 110 companies were involved in property despite what we hear about this being an unintended consequence.

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I move on to the funds which are actually taking over the property as opposed to the financial interest. I refer to the qualified investment funds. Does the Revenue agree that qualified investor, alternative investment funds are the vehicle of choice for buying up commercial assets in the State?

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: These are public companies and we can look at their accounts. For example, Kennedy Wilson has €1 billion of assets in the State and made €26 million in profit in the first six months of the year while paying no tax in the country because it is structured as a qualified investor, alternative investment fund, which has nothing to do with section 110. Is the Revenue aware of...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: If one looks at some of the public accounts of these companies, Kennedy Wilson for example, one sees reference to withholding tax on British assets of 20% and on Spanish assets of 25% and it will boldly state that there is no tax on their Irish assets. In Kennedy Wilson's case that is assets of €1 billion and rental income of €26 million in the first six months of the year. Is...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: As a point of interest, section 110 companies, which are what Deputy Donnelly has raised with particular reference to loopholes and the proposed amendment, have nothing at all to do with qualified investor funds. They are two separate entities. Sometimes they interrelate but it is seldom the case when one has a super QIAIF. They are not related at all and are absolutely two different...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: We certainly will. Can the Revenue indicate how many companies operate under the double-Irish tax structure currently? I am not looking for the identities of the companies. While it has been closed to new entrants, the Government decided in its wisdom to allow existing users of the facility to use it up to 2020. I am curious as to whether if we were to bring the date forward there would...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: If the shut-off date was brought forward, would there be an increase in revenue?

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I direct the next question to the Minister. We know the position of the Government on water and will not rehash it in terms of the commission and a vote in the Dáil at a certain stage. I am curious about the fiscal space, however, given the uncertainty of that vote in the Dáil and whether water charges will be abolished or suspended indefinitely. They are currently suspended to...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: I will finish up soon. The Government has come up with the idea of a help-to-buy scheme. It sounds great - the slogan sounds great anyway. There is a lot of concern, which I share, that it will increase property prices. We know that 35% of new loans can be issued outside the Central Bank's strict loan-to-income and loan-to-deposit ratios. Can the Minister enlighten us as to what he...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: How can that be construed in any way as increasing supply? If the Government provides State money to couples, and there is an argument about whether this should happen or not, it will only increase demand because the Government is giving a tax credit to the individual. They are not going to go out and build all these houses by themselves. It just creates more demand in an area where there...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: It is a bit mad. A total of 162 people-----

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Pearse Doherty: A total of 162 people lie sleeping on the streets in the immediate inner-city area of Dublin. There is a demand for housing and emergency accommodation. The supply is not there. A survey by KBC suggests that almost 250,000 people would look to purchase a house in the next three years. There is demand. House prices have been escalating because supply has not been forthcoming. If the...

Written Answers — Department of Justice and Equality: Policing Co-operation (16 Sep 2016)

Pearse Doherty: 81. To ask the Minister for Justice and Equality if a Garda Síochána report (details supplied) has been finalised and will be released; if not, the reason this is the case; and if she will make a statement on the matter. [25012/16]

Written Answers — Department of Justice and Equality: Policing Co-operation (16 Sep 2016)

Pearse Doherty: 82. To ask the Minister for Justice and Equality if she sought the list of the more than 400 organisations that the British Metropolitan Police have admitted spying on; if so, the Irish organisations that are listed; if not, the reason this is the case; and if she will make a statement on the matter. [25013/16]