Results 43,301-43,320 of 46,456 for speaker:Simon Harris

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

Simon Harris: There is quite a lot in what the Deputy said. I am somewhat disappointed I have not heard a response from Deputy Boyd Barrett with his thoughts on the document, whereby arising from debates of this committee, the Department of Finance conducted a substantial amount of analysis. All of the figures, including those mentioned by the Deputy, were included and it has come up with what it...

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

Simon Harris: Before we left I had just acknowledged the fact that we had published the technical paper on the effective rates of corporation tax in Ireland. This is a very useful exercise in terms of looking at various methodologies and at various questions that have been posed at this committee and in many public and media fora over recent years on the effective rate. We are pleased that it is in the...

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

Simon Harris: While we might not have a meeting of minds on it, I will endeavour to bring some more clarity to it from our perspective. Deputy Doherty is correct that there is not a requirement to draw down the 5%, but Revenue informs me that people almost invariably do, because otherwise they would find themselves being taxed on it twice. I do not have the hard data on the issue but, anecdotally, the...

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

Simon Harris: The Deputy is correct that there is no reference to the knowledge box in the Finance Bill. My colleague, the Minister for Finance, flagged on budget day that it would be in the subsequent finance Bill because we want to get it right. As the Minister outlined, we want it to be the best in class. It is part of the foreign direct investment, FDI, offering and is part of the roadmap to tax...

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

Simon Harris: This is a complex issue and I am happy to stop at this point.

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

Simon Harris: I take that point and I will convey it to the Minister for Finance. I know he has tried to provide consultation and engagement but I do not think it happened with regard to this section. I will relay the Deputy's comments to the Minister. It is highly technical. Many of the changes to which the Deputy has alluded are quite technical in nature rather than substantive but I note the point.

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

Simon Harris: That is what we are trying to do. I might bring my speaking notes in future, Chairman.

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

Simon Harris: I will do so.

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

Simon Harris: That is a fair point. I have also asked that a question and answer briefing be compiled which I will circulate along with the speaking notes to the committee members.

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

Simon Harris: I move amendment No. 20: In page 31, to delete lines 7 to 10 and substitute the following:“ “ ‘relevant member’, in relation to a relevant pension arrangement, means— (a) a member of a relevant pension arrangement in respect of whose retirement benefit under the arrangement a pension adjustment order has been made in favour of a non-member, or (b) a member...

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

Simon Harris: I move amendment No. 21: In page 31, to delete lines 17 to 24 and substitute the following:“ “ ‘subsequent administrator’ means the administrator of the transfer arrangement under which the non-member remains entitled to a retirement benefit under the arrangement or in respect of which the non-member’s retirement benefit under the arrangement has...

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

Simon Harris: I move amendment No. 22: In page 32, to delete line 2 and substitute the following:“as if the pension adjustment order had not been made, and where the administrator is the administrator of a relevant pension arrangement to which a sum representing the relevant member’s accrued rights under the relevant pension arrangement in respect of which the pension adjustment order has...

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

Simon Harris: I move amendment No. 23: In page 32, line 5, to delete “Where” and substitute “Notwithstanding section 59B of the Pensions Act 1990, where,”.

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

Simon Harris: I move amendment No. 24: In page 32, to delete lines 18 to 33 and substitute the following:“(b) Where, in accordance with section 787S(3), a subsequent administrator or a fund administrator (in this paragraph referred to as the ‘administrator’) is liable to pay the amount of a nonmember’s appropriate share (within the meaning of section 787R(2A)(b)) of tax arising...

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

Simon Harris: I move amendment No. 25: In page 33, line 6, after “year” to insert “(within the meaning of section 787TA(1))”.

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

Simon Harris: I move amendment No. 26: In page 33, to delete lines 31 to 37 and substitute the following:“(c) The assumption referred to in paragraph (b) is that, where a transfer amount has been applied to provide a retirement benefit for or in respect of the non-member, each party’s share of the retirement benefit arising under the benefit crystallisation event giving rise to the tax shall...

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

Simon Harris: I move amendment No. 27: In page 34, line 10, to delete “is” and substitute “are”.

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

Simon Harris: I move amendment No. 28: In page 34, line 31, after “option” to insert “under the transfer arrangement”.

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

Simon Harris: I move amendment No. 29: In page 34, line 33, to delete “having regard to paragraph (e),”.

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

Simon Harris: I move amendment No. 30: In page 34, to delete lines 39 to 45 and substitute the following:“(e) Notwithstanding paragraph (d)(ii)(II), the liability of a subsequent administrator or a fund administrator shall not exceed the lesser of the non-member’s appropriate share and— (i) in the case of a subsequent administrator, the amount or value of the assets in the transfer...