Results 31,321-31,340 of 35,932 for speaker:Pearse Doherty
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: There is no obligation on a REIT company to invest the 15% of profits into maintaining or upgrading the properties.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Are non-resident investors who dispose of REIT shares exempt from capital gains tax?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Why are there differing positions on resident and non-resident investors with regard to REITs and dividend withholding tax?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: What will be the residents' rate?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Why are we differentiating between the resident and the non-resident in respect of withholding tax?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Is the withholding tax rate of 20% the maximum we can apply to a non-resident, which is applicable also to a resident but is treated as income?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I mentioned some of this during the debate on Second Stage so I will try not to repeat myself. We have seen REITs working in different jurisdictions, as outlined by the Minister. They worked particularly well in jurisdictions where the property market has not been operational or is on the floor. There is fear about the vulture capitalist element of REITs so we must me must be careful in...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: The Minister discussed the section. Does the Vice Chairman want to dispose of the amendments first?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I will discuss the section after that
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: In respect of amendment No.53 I raised the issue of the good asset test on Second Stage which stems from the British operation and review of REITs. Why did the Minister choose 75% and not a higher rate based on the market value of the assets of a REIT or group of REITs?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: There is an advantage to the Exchequer in putting in place a time limit because companies will pay more tax in year 7 of operation if they cannot avail of the relief after six years.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: That is what I am saying.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I will not labour the point, but the idea of start-up reliefs is positive. It gives an injection to a company of a relief and all companies would hope to be profitable within the first decade of operations. The provision, however, allows for a company in year 11 to continue to avail of start-up reliefs. The indefinite carrying forward of the relief does not make sense. Perhaps three years...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I move amendment No. 43: In page 76, before section 33, to insert the following new section:"33.—The Minister shall within 3 months of the passing of this Act prepare and lay before Dáil Éireann an analysis of the tax expenditures included in this Act, setting out their incurred cost to the State and the impact they have had on job creation, volume of new start-ups,...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: It makes sense to provide start-up tax reliefs. I have no problem with this, but I do have an issue with their being carried forward indefinitely. If a company availing of these tax reliefs is not able to utilise them within the period of three years, they can be carried forward indefinitely. Where a company commences operations, it can still avail of start-up relief six or seven years...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: The debate on the amendment has been very good. If I was Minister for Finance, I would not start to discuss corporation tax or any other tax in the open. One must be careful in discussing any tax because if we start to do so, it will affect consumers and the way the markets operate. Whether it is putting a tax on petrol, there will be a response. However, it is welcome that the OECD...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I thank the Minister for that. I will withdraw the amendment. I have been banging on about this matter for quite some time and the Minister is aware that my party supports the retention of the 12.5% rate. We voted in the Dáil on a number of occasions to show our support in respect of that matter. It is interesting that the Minister referred to a conversation in which he was involved....
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I thank the Minister.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I move amendment No. 41: In page 75, before section 32, to insert the following new section: "32.—The Minister shall, within three months of the passing of this Act, prepare and lay before Dáil Éireann a report on the effective rate of tax charged to businesses in this State, analyse the impact the Finance Act 2013 will have on helping businesses to lower their effective...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: The issues have been spelled out well by the two previous speakers. I have also been lobbied by Ireland West Airport Knock. The airport authorities have suggested amendments to the Minister. I have not had a chance to examine the amendments in detail but I am struck by what their tax advisers have said to them regarding this section. They have advised that the section would not benefit...