Results 21,541-21,560 of 32,864 for speaker:Paschal Donohoe

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: It is likely we will have to come back just to address that matter because I want to see the issue dealt with fully. On the yield, the first nine months of revenue receipts relating to commercial activity was in the order of €6.4 billion. If I look at the continuation of the level of that yield into next year, I believe the yield I have forecast will be delivered. That being...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: On anti-avoidance, I indicated on Committee Stage that I would bring forward an amendment to provide for certain anti-avoidance measures in connection with the upward adjustment to the rate of stamp duty on non-residential property. I will get those measures right because I know what happened in the past and I am determined to ensure this measure is implemented fully in the way that I intend....

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: The broad background to this is that the rate for non-residential commercial property for many years at different times in our economy was 9%. It then moved down to 6% and then to 2%. It went from 6% to 2% because so little activity was happening in any of the different forms of non-residential commercial property to which the rate applied. At 2% it is a quarter of what it has been at...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: That is why I did not indicate to anybody what I was doing and the budget speculation on this measure began only a day or two before budget day, but it was contained in the tax strategy papers I published during the summer. Anybody who says they were not aware this was an option the Government was considering needs to read the papers we publish during the summer much more carefully in...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: This is a very significant concession within the tax code. The annual cost of the lower VAT rate from 13.5% to 9% is €491 million per year, with a cost per VAT percentage point at €109 million per year. This is an exceptionally significant recognition through the VAT code of a very important sector within our economy. In addition to the costs I have shared, it should also be...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I will be brief. On Committee Stage, I outlined my concerns about the approach for which this amendment calls. Moving in this direction would breach the policy that it is not appropriate for travel to and from work to be a tax deductible expense. Regarding the taxation of expenses, the Revenue Commissioners have specific concerns about the practicality of the proposals. Based on the...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I outlined the rationale for this tax. It is a tax that is supported by the majority in the House. I am not accepting the Deputy's amendment.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: An inquiry may be necessary.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: At one point when the double doors opened and Deputy Doherty walked in, I thought he would have a can of Red Bull in his hand, such were the points his colleague made in his absence. Anyway, I am glad the Sinn Féin policy on this matter is clear and that the party supports the principle of the sugar tax. In some ways, Deputy Paul Murphy is one of the most unlikely socialists I have...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I have outlined the reason I do not believe such a tax should be introduced. The reason is that we already have such a progressive tax system in place in which those who have more income pay more tax. Many different evaluations of the tax code that have been carried out by the OECD and international experts have recognised that. The reason we do not currently have a database to assess...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: I will most certainly be monitoring the impact of this change because it is an important policy change. Unlike Deputy Paul Murphy, I believe in the value of a mixed economy.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: There is a mixed economy. Next year, we will see both public and private housing delivered, although we need more supply. I believe in ensuring we have the right policies in place at each point in the development of the housing market. This is why the change is the right one to make. It has the objective of trying to increase supply. I have explained to Deputy Doherty why we cannot...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I outlined my reasons for opposing this amendment on Committee Stage. I will continue to oppose it and am not in a position to accept it.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I have already debated elements of this amendment with the Deputy and I am not in a position to accept it.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I have already outlined the reasons I could not support this amendment. It does not take account of the ability of individuals to move in and out of our State. We already have a highly progressive tax system in which those who have more pay more. For those reasons, I cannot accept the amendment.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: Before moving on to address this amendment, I must provide the following clarification to the House. On 9 November, the Select Committee on Finance, Public Expenditure and Reform and the Taoiseach considered section 28 of Finance Bill, 2017 as published. As part of that process, there was discussion on an amendment to section 28 of the Bill as it then stood which had been put forward by...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: I have no interest in Ireland being part of a race to the bottom. I want Ireland to have a tax code which is competitive and addresses issues which are part of the growing consensus on how taxes should be collected globally, and that is what we have. I reiterate that we have made many significant changes to date and are committed to making more. The foundations for making some of the...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: Maybe during Christmas.

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: I am aware of the publication of Christian Aid's report on tax, which highlights a potential aggressive tax planning structure that it believes has been used by some multinationals. The report alleges that Ireland's corporate tax residence rules and our tax treaties facilitate this structure. Our tax residency rules were amended in 2013 and 2014 to shut down known aggressive tax planning...

Finance Bill 2017: Report Stage (Resumed) (23 Nov 2017)

Paschal Donohoe: We have not met them.