Results 43,381-43,400 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: I move amendment No. 16: In page 23, between lines 3 and 4, to insert the following:"(f) by deleting subsection (5),".

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

Simon Harris: On the question regarding section 13(2B)(c)(i), that is a claw-back measure. It only applies if an employee leaves before the 12 month period. In other words, if the full 12 months is not fulfilled, then relief will be apportioned. While an individual must have committed to spend 12 months here, he or she could arrive mid-year in, say, June or July, which would be the middle of the tax year.

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 has made his opinion clear.

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 endeavour to respond to the variety of issues raised by members. Deputy Boyd Barrett and I will probably disagree on this point but I do not accept the logic that this Government is not taking any action to protect lower income workers and people on the lower end of pay scales. I reference the fact that 410,000 people who were paying the USC when we came to office will now not be...

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. Every now and again I might just try to move on to a political point because I presume people are raising political points because they would like me to respond to them politically. I take the Chairman's 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 am sure we can dip in and out of that debate during the course of the day. The Government is very mindful of the sacrifices made by low and middle income families. Budget 2015 was the first step in an attempt to alleviate some of those burdens. This relief is an attempt to attract key decision-makers into boardrooms in Ireland. Let us be realistic. There are massive companies with...

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. 11:In page 21, line 32, to delete " 'A' and".Amendments Nos. 11 and 12 are connected. Section 13(c) introduces a revised definition of specified amount into section 825C of the Taxes Consolidation Act. The revision is necessary to facilitate removal of the upper income threshold. Amendments Nos. 11 and 12 relate to an apportionment of relief in cases where an assignee...

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

Simon Harris: Amendments Nos. 13 and 14 are connected and relate to section 13(d). This paragraph relaxes the requirements for tax residency for individuals coming to the State. Such individuals will no longer be prevented from claiming relief by reason of having dual residency. The wording employed in the Bill as initiated may inadvertently delay relief in certain circumstances. Amendments Nos. 15 and...

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

Simon Harris: In the original provision in SARP, this rule excluded assignees from countries, such as citizens of the United States who were deemed to be tax resident elsewhere. It is to ensure that individuals from countries such as the United States can avail of the SARP. It was probably inadvertent not to have had it included in the first place.

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

Simon Harris: They must be tax resident here, but they can also be tax resident in the United States, based on their citizenship in the United States.

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

Simon Harris: Yes.

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

Simon Harris: It is share-based remuneration.

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

Simon Harris: It is from profits gained by the employment here.

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

Simon Harris: Yes, income here.

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

Simon Harris: My detailed note states that the subsection provides that as regards a relevant employee who first arrives in the State in 2014 and is not tax resident in that year, the fact that he or may have dual tax residence in 2015 will not prevent him or her being first entitled to the relief in 2015. This reflects the relaxation of the tax residence position which was raised during the consultation...

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

Simon Harris: The provisions that were in subsection 5 are now catered for in subsection 2(b) of the Bill.

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 referring to amendments Nos. 11 and 12.

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

Simon Harris: Yes.

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

Simon Harris: We are removing the upper limit on income of €500,000. It is something that the Minister for Finance will keep under close consideration but it is based on the consultation process. We have engaged with stakeholders in regard to the benefit of SARP to the Irish economy. It was not something introduced simply for the sake of doing so, rather it has been introduced to attract people...

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 has raised a number of points. First, it is not the priority of the Government to reward the better off, but I am sure that is a debate we will continue to have during the consideration of this Finance Bill and it is one the Deputy had with my colleague, the Minister, Deputy Noonan, last night. I do not accept that there is a loss of tax revenue to the State from this measure....