Results 3,221-3,240 of 35,549 for speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Very good.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I am still not convinced that anything is substantively changing here. All I am convinced of is that the can is being kicked down the road. The vast majority applications from farmers to their local authorities to have their lands de-zoned because they are actively farming on them have been rejected. What will change? Is the letter from the Minister for Housing, Local Government and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I go back to the point that a whole year has passed and there are no amendments. All we are doing is putting this off for a year, which is an issue. For the farmer who is actively farming his or her land and has gone to the local authority and asked for it to be de-zoned, has been rejected and has possibly even gone to An Bord Pleanála then and has been rejected, what will change for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I move amendment No. 42: In page 119, line 31, to delete "amended-" down to and including line 39, to delete pages 120 to 125, and to delete lines 1 to 11 in page 126, and substitute "repealed.". This amendment is to repeal the concrete products levy. This levy was introduced by the Minister's predecessor. The argument was that it was to offset the costs relating to defective concrete...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I welcome the latter point. That is the point that I was going to bring up here. It is an issue that I raised with the Minister's officials during the briefing, namely, that under the current drafting, it does not allow for the on-sale of precast concrete products, and the tax will fall on them. I gave the example of garden kerbs. They will be exempt from the levy if they are manufactured...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I fundamentally disagree with what the Minister has said. I can understand that this is his logic but the State makes commitments to invest in capital infrastructure on numerous occasions and we do not point to a funding stream. If we decide to build a metro, how much will it cost? It will cost billions. Are we going to introduce a levy on everybody who uses a train? It does not make...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I will push this to a vote.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I wish to press my amendment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I move amendment No. 44: In page 126, between lines 11 and 12, to insert the following: “Report on the impact of the Defective Concrete Products Levy on the cost, viability and affordability of construction and housing projects 90.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the Defective Concrete...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: That was an interesting discussion. It related to some of the points I want to touch on. The expectation was that everybody would jump together. There is a level of uncertainty on the implementation, particularly from an Irish context which is important for us in respect of the US. The UTPR safe harbour has been carved out for the US in that instance to the end of 2025. I am conscious,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: How can we stop it?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: The issue here is the location. We understand the location of subsidiaries is not just an issue in taxation; it is access to markets and all of the rest. The issue relates to subsidiaries based in Ireland of major multinational companies headquartered in America, of which there are many. If the United States does not adopt pillar 2 after 202, the State will be obligated to ensure the Irish...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: That is fair enough, and that is a fair assessment, given that the administration's stated public intention is to sign up to pillar 2. The income inclusion rule, which allows for a parent company to apply the minimum effective tax to a subsidiary in a low tax jurisdiction or a jurisdiction that does not operate under pillar 2, and the UTPR, which allows a subsidiary to charge the tax on the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Very good. Regarding the safe harbours provisions, Deputy Cowen's amendment dealt with one of them. I understand the point he was making but I do not understand the amendment because it would get rid of the safe harbour provisions, which means we would have to apply the UTPR to American headquartered companies immediately, which would cause a massive clash straight away.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I appreciate the points Deputy Cowen has made and I understand exactly where he is coming from. The point I was making was that the effect of deleting these lines, from my reading of it, would be to get rid of the UTPR safe harbour, which means that a subsidiary in Ireland would have to apply the UTPR to a parent company in America. This defers that for 12 months to give the opportunity for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: This provision gives America an extra year because it has a tax rate of 20%. I completely understand the point the Deputy is making.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: As opposed to 2025.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: That is fine. I just wanted it clarified that the QDMTT safe harbour is the permanent position and, therefore, we will not need further changes to how we operate this. I expect that there will be a lot of changes over the weekend. I have mentioned that penalties are being deferred to 2028 to provide time for companies to acquaint themselves with the rules and familiarise themselves with...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Are there no penalties at all or are they deferred? Please explain the reason for no penalties until 2028.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: The Minister has mentioned that it is 18 months to file a return, which means that we will start to see returns in June 2026. Is there not a requirement on Irish entities to fill out a QDMTT within 12 months?