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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: This section relates to a new annual reporting requirement for convertible securities, restricted shares and forfeitable shares given to a director, employee or other person that will now be required in electronic form in a format provided by the Revenue Commissioners. The general share award reporting obligations have also been extended to include cash equivalent to shares or shares granted...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: I understand that information will be shared on an anonymised basis. It will not be formal and will take place on an ad hoc basis rather than monthly or annually.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: On the increase in the value of the naval personnel credit for another year, I am concerned this will not go far enough to help the people it is intended to help. Pay and working conditions are of particular concern. Will the Minister comment on the impact that will have on the Naval Service?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: I agree with my colleague on these amendments. It is important, especially given the context of the current climate, that we see a move to a more progressive taxation system. That is especially true in light of the fact that the committee voted to retrospectively tax those who lost their jobs and income through no fault of their own but due to the global pandemic. Accepting these...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: Many issues and concerns have been raised. One of our concerns is the one raised by Deputy Nash, whereby this scheme seems not to deal with suppliers. Suppliers have been hit massively by this crisis and the fact that they appear to have been excluded from this is deeply disturbing for them. Many of them have been in contact with us about that. The other issue that has been raised is that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: Section 16 proposes an increase in the rate of the encashment tax from 20% to 25%. That change would bring the rate of encashment tax in line with the rate of the dividend withholding tax, which was increased to 25% last year. It also includes an exemption from encashment tax for Irish companies and a requirement that they make certain returns of information to Revenue. Can the Minister...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: What details will they be required to submit?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: I thank the Minister.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: I thought the note said section 24 would be considered tonight.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: Okay. I do not mind it being tomorrow either but the last note we got, from what I can see-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: I thank the Minister.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: This section amends the hybrid rules in part 35C of the principal Act and it proposes, among other things, changes to the definition of "associated enterprises". Many of Ireland's anti-hybrid rules are applicable only where there is a transaction between so-called associated enterprises, the definition of which this Bill looks to make clearer. The amendments to section 20 also include a new...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: Is there potential for the establishment of an orphan structure to fall out of this category?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: An orphan structure could be used as a loophole. Could that be an area of concern?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: I thank the Minister.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: Is this section 21?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (16 Nov 2020)

Mairéad Farrell: Can I ask a question on the section?

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Second Stage (11 Nov 2020)

Mairéad Farrell: Brexit, the UK Internal Market Bill, the Good Friday Agreement and the future of Irish reunification are on the world stage. Last month, Joe Biden, the incoming President of America, held a campaign event on the Good Friday Agreement, Brexit and the future of Irish reunification. Regardless of his approach to foreign or domestic policy measures or the economy, his keen interest in...

Written Answers — Department of Communications, Climate Action and Environment: National Broadband Plan (11 Nov 2020)

Mairéad Farrell: 40. To ask the Minister for Communications, Climate Action and Environment the percentage of homes and businesses in each county and city that currently have access to high-speed fibre broadband in tabular form; and if he will make a statement on the matter. [35530/20]

Written Answers — Department of Public Expenditure and Reform: Departmental Funding (11 Nov 2020)

Mairéad Farrell: 78. To ask the Minister for Public Expenditure and Reform the breakdown of the funding allocation for his Department for 2021, by project. [35517/20]

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