Results 43,621-43,640 of 46,267 for speaker:Simon Harris

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Yes. It is important to note that the articles we are inserting in our agreement are based on current OECD tax law. Obviously, we are engaged in a process at a time when a situation is developing and evolving. I am confident that the agreements we are asking the committee to ratify today and other international double taxation agreements which we as a country have put in place are in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: I take the point the Deputy makes. I must reiterate, however, that Ireland, the Government and the Department of Finance are committed to the OECD process and to playing a leadership role within it. We will keep matters under review as the situation evolves and is completed. We have been to fore on issues such as spontaneous exchange of information.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: I appreciate the Deputy's view. I believe it would be prudent for Ireland, before signing up to agreements incorporating such standards, to agree the standards first. Ireland is playing a lead role in the development of those standards.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Once in place, Ireland will continue to lead in this area.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Yes.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: I thank Deputy Doherty for his kind words. I look forward to working with him also. It is the norm within the European Union that European countries follow the OECD model. That is not to say that we do not incorporate elements of the UN model. The fact that we are signing an agreement with a developing country like Botswana is a sign of this country's commitment to further engaging in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Most of these were signed in advance of my appointment. I will examine this further and I will revert to the Deputy. I have continued to use the OECD model which has been the norm in Europe. I am happy to come back to him with a detailed note.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: The Department's view is that the OECD model is fit for purpose and it is the best practice across Europe. There are elements within the UN model which we have incorporated. These are what we consider to be the best practice elements of the UN model. Specifically, the whole issue of withholding tax on technical fees and a change of professional service fees of individuals. The model we...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Ireland is in favour of the exchange of spontaneous information. The OECD process is ongoing. The country will continue to fulfil its dutiful obligations to engage in double taxation agreements. It is important to note that Ireland has been proactive in its engagement in the OECD BEPS process and the OECD processes in general. The spontaneous exchange of information is something this...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: While the international standard has yet to be worked out, Ireland is a party to the OECD-Council of Europe multilateral convention on the exchange of information. Ireland has already signed up to the multilateral convention. There is ongoing work in terms of the OECD and further standards but Ireland is fully compliant with the existing multilateral convention at OECD level.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: This is where confusion arises. It is already included in double taxation agreements as a result of Ireland's participation in the OECD multilateral convention on the exchange of information. As further standards develop, Ireland will be one of the first countries to adopt them. Ireland has shown good faith in this area. Ireland is already including the provisions in the multilateral...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Spontaneous exchange is already happening under the existing treaties, both bilateral and multilateral. Furthermore, Ireland has joined the OECD early adopters group. Ireland has been leading the way on this and is ready to move on any further international standards. Currently, it would be wrong to give the impression that spontaneous exchanges are not already a part of existing bilateral...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: On the Botswana agreement, where the information is foreseeable we are absolutely permitted to provide it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Yes. We believe it does comply and that there is already provision within this to allow spontaneous information exchange. It is important to note that Ireland cannot move alone on all global taxation issues. Ireland is participating in the OECD process and, not only is it participating, but it has also shown good faith by joining the early adopters group within the OECD.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Article 26 on exchange of information.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: Paragraph 1 of Article 26.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: I take the Deputy's point. There is a distinct issue here on country to country reporting which is an issue Ireland supports and is actively supporting. The commentary in Article 6.1 clearly outlines that the country does not need to be asked for the information before the information is provided. I am satisfied that sufficient provisions are in place to allow for the spontaneous exchange...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: That is correct in relation to all our other bilateral agreements.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: I thank the Chairman for his words of welcome. I very much enjoyed my time as a member of this committee and I look forward to working with colleagues in what will no doubt be a very busy period for this committee. I am very pleased to be here today to introduce to the committee two draft Government orders giving force of law in Ireland to two new double taxation agreements, or DTAs, with...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Double Taxation Agreements: Minister of State at the Department of Finance (24 Sep 2014)

Simon Harris: I thank Deputy Michael McGrath for his kind words. I look forward to engaging and working with him on the occasions when I am before this select sub-committee. As outlined earlier, we have managed to get a number of taxation agreements over the line in recent years. We compare very favourably with larger OECD countries in that regard. South America is one location in respect of which...