Results 26,321-26,340 of 35,894 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Pearse Doherty: Cuirim fáilte roimh an tOllamh Kane and welcome him back to Ireland. He has spoken a lot about the too-big-to-fail concept. There have been studies on what this means. In Professor Kane's view, what does it mean to have a bank too big to fail? How would he, or a member state, assess in a crisis whether a financial institution is too big to fail?

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Pearse Doherty: Professor Kane mentioned that Anglo Irish Bank should have been nationalised earlier. I appreciate, as Professor Kane stated, that he is not a scholar of the banking crisis in Ireland. However, can he explain the difference between nationalising Anglo Irish Bank, which has at this point imposed losses in the region of €30 billion on taxpayers, and guaranteeing it? What difference...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Pearse Doherty: How does that factor into some of the other evidence provided by Professor Kane in regard to a banking holiday? If we were to nationalise a bank such as Anglo Irish Bank, does it not put the losses on the State automatically as a result of nationalisation? Does Professor Kane still believe that was the best option or is the idea of a bank holiday, where people can go in, look at losses and...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Pearse Doherty: With regard to Professor Kane's 2004 paper examining 12 countries and their guarantees, were any of the guarantees similar to what the Irish State put in place? For example, the Irish bank guarantee covered all past and future deposits, retail and commercial institutions, interbank, covered bonds, senior debt and dated subordinated debt. Were the other guarantees of a similar nature or was...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Pearse Doherty: The 2004 paper says that while policy-making during a crisis may be of the seat of the pants variety, the policy itself is informed by a political and economic struggle over who pays for the losses. How important in the view of Professor Kane is that dynamic, namely, the political and economic struggle of who pays for the crisis in terms of framing the terms of the resolution?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: How many of the 14 appeals to the Circuit Court in 2013 were upheld?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: I will return to that matter shortly. Mr. O'Leary says the Revenue Commissioners are not entitled to appeal to the Circuit Court. One of the presentations, which I thank the witnesses for, suggests the Revenue Commissioners are entitled to a rehearing at Circuit Court. In his latest comments, Mr. O'Leary suggests that is not the case.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: Have the Revenue Commissioners ever appealed an Appeal Commissioners' adjudication on the basis of capital acquisitions tax?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: When was the last time the Revenue Commissioners did so?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: Was it done on more than one occasion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: Did the Revenue Commissioners win that case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: The option the Revenue Commissioners had, which was of benefit to the State, would no longer be an option if the legislation went through.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: It also means the State has lost out financially because the option is not there. Was a substantial sum involved in the one case the appellant appealed to the High Court and won? Can that information be provided? These cases can range from corporation tax, where it involves large bills, to local property tax. I am not asking for the figure but whether it involves a couple of hundred...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: The case of the individual who won involved 2013 figures. Am I correct in saying people have taken appeals to the Circuit Court, have won in previous years and have not had their decisions overturned later?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: Six cases have been won in the Circuit Court. I am focusing on this because the six cases won in the Circuit Court could not have been won if the legislation had been passed unless the appellants were able to appeal on a point of law.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: I do not think we can have it both ways. We cannot argue that we are getting rid of the Circuit Court because the Appeal Commissioners stage is a dress rehearsal and then argue that the point of law is so broad that the High Court hearing is really a rehearing of the case. It appears that the system is broken. We have unacceptable delays, and I do not support these delays, but our...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: The Circuit Court.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: Would the same not apply in the High Court?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: That is fair enough. Mr. O’Leary clarified this point in respect of the Finance Act 2014, which suggests that a taxpayer who loses before the Appeal Commissioners has to pay the tax at that stage instead of later. This goes to the core of delays and so on. Mr. O’Leary said this applies only to the disputed amount. Can he clarify whether somebody who loses after an appeal to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Finance (Tax Appeals Commission) Bill: Discussion (27 Jan 2015)

Pearse Doherty: What did the 2014 legislation change?