Results 4,101-4,120 of 33,118 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Deputy Doherty has made a reasonable request, which we are happy to meet.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I thank the Deputy. The VAT rating of goods and services is subject to the requirements of EU VAT law with which our law must comply. Following an agreement finalised earlier this year, the VAT directive now permits each member state to apply a zero rate to seven categories within annex III. These are categories one to six as well as category 10(c). These categories for a zero rate do not...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: That is correct.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Yes, they would have been applying it up to this point but it has only happened in a limited number of cases.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I have not been notified of that but I have checked with my colleagues and we are not aware of this as a behaviour. Obviously if Deputy Doherty has a concern about it and has an example, we will be happy to have a look at it.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: The Revenue Commissioners inform me that in their opinion it would apply in a forward-funding arrangement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: According to what my colleague is telling me, the agreement would be treated as conveyance but I will share a note with Deputy Doherty on the matter because while I have no doubt that the answer I am getting here is correct, it is quite technical and I do not wish to mislead the Deputy.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I will send a note on it before Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Of course.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I am advised that Irish companies would not be able to access American capital markets if we were to apply stamp duty in these circumstances.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: This is not going to make a material change in shares that are captured. If Deputy Doherty wants a list of what share transactions will still be captured as a result of this, I am happy to send it on to him. The purpose of this section is to make two technical changes in regard to the operation of the CREST system and there are more substantive amendments included in regard to electronic...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: The Revenue Commissioners inform me that this issue does not affect the matter the Deputy is raising. They also inform me that it is difficult to pursue the stamp duty in regard to transactions of that sort because there are issues in regard to the collection of that revenue. Again, given that this is a detailed matter, I am happy to give Deputy Doherty more information in regard to it...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Likewise, I acknowledge that today is a difficult day for former employees of Ulster Bank. This is a bank that had been present in Ireland for many decades. I am sure many of the staff who are now, unfortunately, losing their jobs never thought they would be in a position where a bank that they had worked for for so long would be departing. I acknowledge the difficult nature of today for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I move amendment No. 63: In page 114, between lines 29 and 30, to insert the following: "Extension of farming reliefs 64.(1)The Principal Act is amended— (a)in section 81AA— (i)in subsection (7A), by the deletion of “as provided for by Article 18 of the EU Regulation”, and (ii)in subsection (16), by the substitution of “30 June 2023”...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: A sale of shares is normally chargeable to stamp duty at a rate of 1%, as Deputy Doherty concluded, and is payable by the purchaser. I am advised by Revenue that where a company purchases its own shares, the stamp duty treatment depends on the form in which the shares are held and the method by which the purchases are effected. For shares held in paper form, the shares may be bought back in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: I will read out the note on this while I ponder the answer to the question. The Birth Information and Tracing Act 2022, which was signed into law in June, amended the Succession Act 1965 to make provision for persons who have been the subject of incorrect birth registrations. The amendments provide that a person affected by an incorrect birth registration, who is referred to in the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: They can select both but it is up to a maximum of €335,000.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (16 Nov 2022)

Paschal Donohoe: The value is to a combined total value of €335,000. It is not per group of parents or parent.