Results 22,421-22,440 of 26,960 for speaker:Richard Boyd Barrett

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: I reserve the right to table amendments on sections I have asked questions about.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: The Chairman will ask whether it should go to the next Stage. Is that right?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: Likewise, I thank the Minister of State, Deputy Hayes, and the Minister, Deputy Noonan, for lively engagement on the issues. I thank the officials as well. Whatever about the debate on the content, I marvel at the capacity of the officials in the Department of Finance to deal with this stuff because there is so much of it and it is so complex. I thank them. Well done to the officials.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: This is a double taxation issue, then, is that correct?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: On this section, I have a question for the Minister of State. As I understand it, this is about the amount of information that needs to be submitted on a corporation tax return - I do not know if it is in certain, or all, cases - where that information relates to a company resident outside the State but with a branch or agency here. Is this section requiring more or less information from...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: Very good. I just wanted to ensure it was more and not less information.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: The Minister of State will notice there is a theme to my questions. The note in the explanatory memorandum says that this section amends capital acquisitions tax where there is an exemption for certain policies of assurance on the life of a person where neither the disponer, the donee nor the successor is domiciled or ordinarily resident in the State. The amendment extends the exemption...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: I am against double taxation, so that is okay with me.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: Our old friend, the investment limited partnership, appears here. We are providing an exemption for investment limited partnerships in cases where there is a transfer of units and where the disponer or donee is domiciled ordinarily in the State and will continue to be following the removal of investment limited partnerships from the definition of "investment undertaking". Will the Minister...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: Could the Minister explain why exactly they are getting these exemptions?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: Why are they getting the exemptions? The amendment is for the purpose of clarity. The Minister says the exemption existed already and this clarifies that such an exemption can continue. If I understand correctly, the exemption applies to investment limited funds where those involved are not ordinarily resident in the State. I ask the Minister of State to explain why the investment limited...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: The point has been made and I accept that the Minister for Health is the one responsible for this. We all subscribe to the principle of risk equalisation but the question arises of where this is heading and how it links in with the Government's objective of universal health insurance, particularly given the failing model of The Netherlands which the Government previously held up as an...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: I had not finished. The legitimacy of what I was saying has been questioned. It is in the note on this section. We are talking about tax exemptions to areas which are murky and over which there are large question marks given their role in the global economic crisis of which we are one of the major victims. I would like explanations from the Minister of State as to why we give tax...

Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)

Richard Boyd Barrett: Actually, there are no water charges for-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: I am glad I asked about this amendment because what is coming out is revealing. This debate needs to come out into the open. I hear frequently that we must be careful because of the markets. We have been listening to that endlessly for God knows how long, and it has not got us very far. That logic seems to be operating at every level of policy, and the economic thinking is that we must be...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: The Minister of State just said that we have to be careful.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: They came from a report in The Irish Times-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: He also said, with respect to the Chair, that in conducting a review we must be careful about the signals we send out to the markets. That means there is a hesitation about shining a spotlight on these areas in case the markets take flight. The Minister of State was clear and explicit about that. I believe we need a review because the one example I have cited, which is the only one of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: It is referenced in this section. The explanatory memorandum states that we will "ensure that the exemptions for the transfer of foreign shares and certain financial services instruments will apply in the case of securitisation transactions".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)

Richard Boyd Barrett: Yes, section 78. I quoted directly from the note on section 78 in the explanatory memorandum.