Results 5,341-5,360 of 5,629 for speaker:Mairéad Farrell

Written Answers — Department of Public Expenditure and Reform: Public Procurement Contracts (17 Nov 2020)

Mairéad Farrell: 300. To ask the Minister for Public Expenditure and Reform if a list of Departments, commercial and non-commercial State bodies and private entities that are subsidised by 50% or more with public funding, and which have implemented social clauses in public procurement contracts, will be provided in tabular form. [36525/20]

Written Answers — Department of Public Expenditure and Reform: Office of Public Works (17 Nov 2020)

Mairéad Farrell: 304. To ask the Minister for Public Expenditure and Reform the properties which are vacant and are either owned or being rented by the Office of Public Works by county; the amount of rent paid to date on those vacant rented properties; and if he will make a statement on the matter. [36777/20]

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I was looking at the timeline for today, and I was wondering at what point we were going to speak on section 21, and its amendments, but it seems that the Chair is stating that we will do that from the start.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: Then we will move back to section 10?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: Thanks. I recognise the work that was undertaken by the staff of the committee yesterday in organising an excellent day. I thank them and everybody who is supporting us in the operation of the ICT. I will now deal with the amendment. The trading profits of companies in Ireland are generally taxed at the standard corporation tax rate of 12.5%. Some of the main features of the current...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: This section provides for an extension of the knowledge development box for a further two years. I suppose the aim of the knowledge development box was to improve research and development by providing a tax break for research and intellectual property. What does the Minister believe the level of take-up of this tax relief scheme has been, particularly by smaller companies, and what is the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: Is it possible for companies to, say, redomicile intellectual property, IP, to avail of this?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: Will the Minister confirm that if the company re-domiciled the intellectual property would mean that research and development have to happen here or can it happen somewhere else?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I thank the Minister.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: On the section, can the Minister clarify if this section extends the timeline by which companies are required to pay their exit tax obligations and, if so, what would be the implication for Revenue collecting that tax and what is the rationale for extending it?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: We are withdrawing these amendments with a view to retabling them on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I move amendment No. 6: In page 11, after line 34, to insert the following: “Report on income levy on high incomes 11. The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the introduction of a high-income levy of five per cent on high incomes in excess of €140,000.”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I move amendment No. 7: In page 11, after line 34, to insert the following: “Report on income tax relief 11. The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on an income tax relief equivalent in value to 8.3 per cent of annual rent to all private rental tenants not already in receipt of any State subsidy,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: These changes seek to provide greater clarity around our transfer pricing rules and the circumstances in which domestic non-trading transactions between Irish entities are excluded from the application of the rules. It is good to make the rules clearer. However, I would be concerned if it would allow for the possibility of transfer pricing arrangements via special purpose vehicles, SPVs,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I have a query. Some international experts are worried about the strength of Ireland's CFC, rules. I welcome that companies that appear on the EU's new blacklist will no longer be able to avail of exemptions, but I am worried about those companies that are not on the list. No EU jurisdictions are on the list. Although these measures spring from the EU's anti-tax avoidance directive, I am...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: The concern is that there would be a shift in transactions from countries on the blacklist to others that are not. I would be interested in seeing an analysis of that. The Minister is telling us that such information would probably be available on an EU basis.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: I am okay.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: May I ask a question on section 23?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (17 Nov 2020)

Mairéad Farrell: Will the Minister explain in greater detail what exactly this section is trying to achieve and what the cost will be to the State?