Results 26,801-26,820 of 35,894 for speaker:Pearse Doherty

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: I move amendment No. 43: In page 40, between lines 28 and 29, to insert the following:“18. The Minister shall, prior to Budget 2016, prepare and lay before Dáil Éireann a report on the effective rate of tax charged to domestic businesses in this State and separately to multinational corporations, and analyse the impact of this Act with regards to lowering the effective tax...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The record of the committee will contain the information from the speaking notes but I ask the Minister of State if he will circulate the speaking notes to members so that we will have access to them before Report Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The Minister of State has said that he has no problem with circulating the speaking notes. These amendments have been published since last week. It would be very helpful if we had the speaking notes a couple of days in advance as it would allow us to scrutinise them considering in this case there are so many amendments of such a technical nature. It would allow us at least 24 or 48 hours...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: One of the changes to section 17 is the annual rate of imputed distribution applying to AMRFs and vested PRSAs. What is the motivation for that reduction from 5% to 4% for AMRFs with a value of less than €2 million? It was 3% prior to the Finance Bill 2011 and increased to 5%. We know that people can hold on to these funds and not draw down for retirement benefit. The idea of this...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: Has the Minister of State figures for the number drawing down the 5% of those funds valued at less than €2 million? How many of the funds are not drawing down the 5%?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: People are drawing it down and paying tax on it. The answer is that this does not actually lose any tax to the State because they are drawing it down anyway. However, if they are drawing it down, that questions the validity of reducing the rate because they are drawing it down anyway at 5%. Why would we reduce the rate? There may be a portion of those who are not drawing down but they...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The number of jurisdictions has been extended twice and I ask the Minister of State to clarify what is intended by the section.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: I accept it is not reflected in the legislation. I said that to the then Minister, who is now the Tánaiste, Deputy Joan Burton. She claimed on behalf of the Government during Leader's Questions that each individual was required to create 50 jobs. Where did that response come from?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: When I put it to the Minister that the relief is open-ended and it contains no requirement to produce one jobs in the State her response was that the requirement by the IDA is that each of these individuals would generate 50 jobs. I knew at the time that the Minister was misleading the Dáil. That is the reality. Is there documentation to show that the Government believed that each of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: This is my final point on the amendment. I appreciate what the Minister of State has said. I have said to the Minister for Finance in the past that one has to take risks in finance Bills to create jobs as some things will not work. I put it to the Minister of State that when this measure was announced three years ago the expectation was that 100 people would avail of it. From the last...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The then Minister, now Tánaiste stated that for each individual 50 jobs would be created and at the same she stated that it was expected that 100 individuals would take up this relief.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The wording does not describe an individual who gives a commitment to perform the duties, it describes a relevant employee as an individual who performs the duties referred to for a minimum period of 12 consecutive months from the date he or she first performs these duties in the State. I suggest there is no flexibility with regard to someone stating he or she intends to do so. The...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: Somebody who only spends six months in the scheme is able to avail of the relief under the provisions on page 21 of the Bill.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: Will the Minister of State clarify this point for me? The relief is only available to relevant employees. Relevant employees are defined on page 20 as employees who are here for 12 consecutive months, not as employees who give a commitment but as employees who perform the duties. If a relevant employee is somebody who has performed the duties for 12 months and this relief is only available...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: Revenue must administer the law. If relevant employees are those who perform the duties for 12 months then they must perform the duties for 12 months.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: They cannot avail of the relief unless they are relevant employees. Revenue cannot make up its own rules. The legislation defines a relevant employee.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: There has not been an issue because the section has not applied previously with regard to apportionment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The apportionment section?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: This is giving clarity to something which already applies.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Pearse Doherty: The 12 consecutive months with regard to the definition of a relevant employee was laid down in law prior to this.