Results 41-60 of 34,380 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I thank the Deputies for raising this matter. In our voting session earlier on, we all reflected on the contribution that Deputy Richard Boyd Barrett has made to all of this. It is great to hear his voice back on the airwaves and to hear that he is recovering. I would describe Deputy Boyd Barrett as being a leading proponent of the unscripted creative sector through the contributions he...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: First, regarding the regional point Deputy Farrell makes, I take that on board. In her own contribution earlier, she acknowledged that parts of our country have a long-established heritage and excellence in the film and audiovisual sector. I know in the area she represents, great efforts are being made at the moment to develop that sector as well. I understand these efforts are being...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I am sorry, would the Deputy mind repeating the last part of her contribution?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I am not aware that the UK has done it, but we can certainly see if we can find out. The Deputy is correct about the point I made about people in the music sector. I was referring in particular to the scale uplift that we have in place, where there is a requirement that it must be an individual who is a national of, or ordinarily resident, in Ireland or another EEA state who must be engaged...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I will certainly see if we can find the information the Deputy is looking for. Section 481, as many Deputies have acknowledged, is playing a really positive role within the sector. We have raised a number of different matters here today, from the music sector to the various issues in relation to working terms and conditions. Good progress is being made.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 53: In page 69, line 39, to delete “clauses (i) to (iii) of subsection (28A)(c)” and substitute “subparagraphs (i) to (iii) of subsection (28A)(c)”. This section amends section 481A of the Taxes Consolidation Act 1997, which relates to the digital games corporation tax credit. The Finance Bill 2025 extends the digital games tax credit...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 54: In page 73, line 13, to delete “paragraph (c)” and substitute “subparagraphs (i) to (xiv) of paragraph (c)”.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 55: In page 73, line 15, to delete “paragraph (c)” and substitute “subparagraphs (i) to (xiv) of paragraph (c)”.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 56: In page 73, line 20, to delete “paragraph (c)” and substitute “subparagraphs (i) to (xiv) of paragraph (c)”.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The participation exemption provides for a double relief tax mechanism, delivered through a participation exemption from Irish corporation tax. It applies to a relevant distribution made from profits or qualifying assets on, or after, 1 January. Distributions made out of either profits or qualifying assets cannot be deductible for foreign tax purposes and must constitute income in the hands...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I am extremely conscious, even as I explain this, that it is highly technical. I can provide a further note to the Deputy in advance of Report Stage to clarify this further.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 58: In page 78, between lines 25 and 26, to insert the following: “(b) in subsection (7), by the substitution of the following paragraph for paragraph (a): “(a) where, other than the holding of shares in an investing company or investing companies, the only business of the first-mentioned company is the on-lending to the investing company or...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Sure, we can do that.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 59: In page 79, to delete lines 18 to 30 and substitute the following: “(c)(i) For the purposes of calculating the amount of interest to which paragraph (b) applies, the principal on the connected loan shall not exceed— (I) the principal outstanding on the borrowings of the connected seller in respect of the asset concerned at the time...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 60: In page 79, line 31, to delete “a transfer” and substitute “an acquisition”.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Of course. This section amends section 891H of the Taxes Consolidation Act 1997, which was introduced in the Finance Act 2015 and provides for country-by-country reporting. Section 891H gives effect to the OECD base erosion and profit shifting, BEPS, project recommendations for country-by-country reporting and Council Directive EU 2016/881 of 25 May 2016, which brought the OECD BEPS...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Overall, in terms of the increase in the value of the scheme, at the moment, as the Deputy knows, it has a lifetime limit of €1 million with regard to the disposal or disposals of chargeable business assets made by a relevant individual on or after 1 January 2016. The Bill will amend the existing lifetime limit of €1 million, increasing it to €1.5 million for gains...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The Indecon report, at that point, recommended that we increase the lifetime limit to €12 million. I think it was recognising that the overall limit in place of €1 million might not be of sufficient scale to incentivise investment in entrepreneurial activity. It believed we should be making a very, very significant increase of it all the way up to €12 million. That is...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I hope the impact will be that those numbers of people who were involved in the set-up of businesses might either decide to be involved in the creation of new ventures in the future as a result of this change or might decide that they will further grow the venture they are involved in over the time ahead because the gain they will get out of the disposal of a share in that business is now...