Results 6,041-6,060 of 36,116 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: At the end of November, we were at €21.1 billion in corporation tax receipts. I presume that will go up to €22 billion or possibly €23 billion by the time the year is out. Mr. Cody is the best person with any type of insight into where corporation tax is likely to land next year. We talked about betting and gambling. If Mr. Cody was to take a punt on it, is he of the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Do the issues in respect of the tech sector, including some of the lay-offs and the present concentration of tax receipts, concern Mr. Cody in respect of those projections for next year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: I know there are always risks.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Okay. The projections are solid enough. Mr. Cody thinks the projections indicate that what we saw this year will probably be repeated.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: No.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: It is just about getting the best assessment. To move on from that, quite a lot is required of Revenue in order to prepare for the OECD's base erosion and profit shifting, BEPS, process, including IT modernisation and new systems being in place for pillar 1 and pillar 2. Will Mr. Cody talk to us about whether Revenue has drafted in an additional team? Has it got the resources? What is it...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: We will get there. I should not have warned Mr. Cody.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: You add on.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Much deserved. I appreciate the level and complexity of work in the systems that have to be put in place for pillars 1 and 2. Just like Brexit, it is not finished yet so it is hard to develop something that is not there.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Yes. That was the other thing. I also want to ask about the impact there would be if Europe goes with the directive while others may stay out, particular America. How could that impact us?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Is that because the Americans might just go with their guilty rate, even with an OECD agreement? That would have an impact on Irish companies.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Would the US Administration not have to drop its proposal on a guilty rate in order to adopt the OECD rules?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: I know, but if you are part of it, you are opting into it. Some of that is well outside the sphere of influence of this.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Just in case Mr. Cody had any thoughts of getting out of answering them, I will move on to the questions about IREFs. I have a question about the amount of withholding tax being paid by IREFs in recent years. The taxable amount has increased. If one looks at just the two most recent years for which there are reports, the amount involved went from €369 million to €621 million...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: I will move on. The number of those paying the non-domiciled levy has dropped to fewer than ten. The Revenue-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: I am getting it from the Revenue website. In 2018, there were fewer than ten, in 2019 there were 11, in 2020 there were fewer than ten.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: They are still small.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Revenue won a large, long-running court case recently regarding Louis Fitzgerald; it took seven years to get €400,000 of a domicile levy. Does Revenue have to pay the legal costs?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: Yet the matter appeared in the media because it was a High Court case; it was an open court. Is that not correct? I am not asking Mr. Cody to explain the case. In instances like that, where Revenue has pursued an individual - I am entitled to say it because it is public knowledge in relation to this-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Office of the Revenue Commissioners: Engagement (14 Dec 2022)
Pearse Doherty: The individual in this case argued with Revenue for seven years. Revenue pursued them and won both cases in the High Court and the Court of Appeal. Some €400,000 will be paid in that levy. Will Mr. Cody explain if the legal costs that would apply? I assume Revenue built up quite a significant amount of legal costs in that case. I commend Revenue; it is important to pursue these...