Results 22,441-22,460 of 33,392 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I have not given that matter any consideration in the context of these amendments because these amendments deal with very different issues. As I have explained to the committee these amendments are about when we transition from one accounting code to another. Pensions have not been raised with me as an issue in this context. I have not given this matter consideration to date. I am informed...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I can read them and Deputy Burton is correct in what she is saying.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: The issues to which Deputy Burton refers are partially a consequence of the accounting code. I understand that. But the amendments in my name to section 19 deal with what happens in the transition from one accounting code to the other and dealing with accounting errors. I am not in a position to give the Deputy a detailed answer on matters within the accounting code. I contend that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: Have the amendments been grouped?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I most certainly will. These substantive amendments are looking to ensure that when a company moves from one accounting standard to another that we do not lose any tax as a result. What the Deputy is doing is raising an issue that is within a standard. I will come back to Deputy Burton on that matter either through the committee or directly because she is raising one issue within a tax...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I will.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 29:In page 31, to delete lines 28 to 30 and substitute the following:“(ii) ‘relevant period’ means the accounting period beginning on the first day of the period of account in which the accounting standard, referred to in paragraph (b), is adopted for the first time;”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 30:In page 31, line 32, to delete “a new accounting” and substitute “an accounting”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 31:In page 31, to delete lines 36 to 38 and substitute the following:“(b) This subsection shall apply where—(i) an accounting standard is adopted for the first time and subsection (2) does not apply, or (ii) an amendment of an accounting standard is adopted for the first time, and references in this subsection to adopting an accounting standard for the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 32:In page 32, line 1, to delete “for the relevant period”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 33:In page 32, lines 4 and 5, to delete “for the relevant period” and substitute “for an accounting period”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 34:In page 32, lines 13 and 14, to delete “for the relevant period” and substitute “for an accounting period”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 35:In page 32, line 33, to delete “profession then” and substitute “profession, then”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 36:In page 32, to delete lines 37 to 42, to delete page 33, and in page 34, to delete lines 1 to 31 and substitute the following:“(5) (a) In this subsection—(i) ‘material error’, ‘fundamental error’, ‘retrospective’ and ‘opening reserves’ shall be construed in accordance with generally accepted...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: Where the financial statements include the correction of an error such as a change from an invalid basis to a valid basis, existing practice based on case law principles provides that the accounting profits must be computed on a new valid basis. Any adjustments which need to be made in order to compute taxable profits on a valid basis must be done by changing the tax computations for those...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: This issue was the subject of an earlier amendment the Deputy sought to table earlier. The Deputy will be aware, because we have previously discussed this issue, that the ability to carry losses forward is a feature of our tax code. In recognition of the quantity of losses that our banks are carrying forward I am committed to the retention of the bank levy. It provides me with an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: The substantive amendment we are discussing relates to what happens in the context of a transition from one accounting standard to another. It is my desire to ensure that we do not lose any tax revenue as that happens. The Deputy is raising a different matter, which she is entitled to do, in regard to how we treat losses within our banking system. As I said, how we deal with the treatment...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: In my view, no.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 37:In page 34, lines 36 and 37, to delete "as respects accounting periods ending on or after the date of the passing of this Act".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)

Paschal Donohoe: I move amendment No. 38:In page 34, between lines 37 and 38, to insert the following: “Amendment of section 135 of Principal Act (distributions: supplemental) 20. (1) Section 135 of the Principal Act is amended—(a) by inserting the following subsection after subsection (2)—“(2A) No consideration derived from any share capital or security of a company (being a...