Results 341-360 of 34,411 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes, that is correct.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: As I have explained, legally I have been informed that is not possible for the LDA properties.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: No, those that are built.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputies.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank all the Deputies for their points. I will deal with each of them in turn. First, with regard to cost, the estimated first-year cost of the Finance Bill 2025 enhancement to the research and development tax credit is €169.9 million. The estimated Exchequer cost of the enhancement is €305.9 million. The difference in the first-year cost and the full-year cost is due...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: -----so am sensitive to it. I take the Deputy's point. One of the things we have to look at is how we can simplify our tax code in this area. We are getting feedback from small and large companies that this is a particularly complex part of our corporate tax regime. I am conscious that we have to see whether we can clarify matters and make it easier for companies to access. Figures...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: On making the decision, the officials involved in doing the review are the same officials who worked with me while I considered this decision. I am therefore able to access their knowledge and wisdom on this as they complete the review. In any event, I have to look at the different policy choices available and, in line with them and based on the engagement I have, identify the policy...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputy for his questions. On the distribution of the change in the R and D tax credit, it is fair to assume that the majority of companies that will be benefiting from this change will be companies that will be inside the scope of pillar 2 and have a turnover of more than €750 million. That is consistent with the information that Revenue publishes all the time trying to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I do not know that. I am told that we will not have that information available to us until the pillar 2 returns come in, which I am told will be June 2026.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: My official, who was involved in all of this, assures me that it was developed off this table here, which is the information I have been using this evening, so it is the same line of thinking. There is no other information available.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: That is what I have been saying all evening.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: A majority - 90%.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I have been saying for the evening that I would expect it would be the majority. I think I did make reference to the companies that have more than 250 people working within them as being the ones that are most likely to benefit from this and are also the same companies that are inside pillar 2. To assure the Deputy and the committee, there is not an additional pool of information that I am...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: On the different matters that have been raised, I agree with what Deputy Doherty has said. The prominence of these matters is now so much so much higher than they used to be. I was really struck in the Second Stage debate by the number of Deputies from many parties who raised these kind of issues and I had not heard that happen before. It is happening because technology is now making it...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I accept the point and that the decision regarding what the evolution of deemed disposal could look like in the future will be a complex decision. The fact we are looking at a cost for this, which could be at least €140 million, is an indication this would be a significant budgetary decision. There are large amounts involved.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I move amendment No. 21: In page 54, between lines 18 and 19, to insert the following: “Amendment to section 835AVB of Principal Act (collective investment scheme) 39. (1) Section 835AVB of the Principal Act is amended— (a) in subsection (1)— (i) by the insertion of the following definitions: “ ‘EEA Agreement’ means the Agreement...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputy for raising this. He is right that the digital transition, particularly for small and medium-sized businesses, is going to be increasingly important in the years ahead. We talked a few moments ago about what that means for the way people invest their money. We know it is transforming every part of our economy. We also know some of the costs involved in this for smaller...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I agree with that.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputy. This amendment seeks a report on the design, potential yield and distributional impact of a wealth tax on net household wealth above certain thresholds to be provided within six months of the passing of this Bill into law. This matter has been raised by Deputies with me and my predecessors in recent years. As he will be aware, wealth can be taxed in a variety of...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: What I said is that my officials are currently exploring the prospect of updating the joint research but I think it has gone beyond the exploration stage as a result of the exchange this evening.