Results 661-680 of 11,861 for speaker:Brian Hayes
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: I understand it is only on the gain.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: The farmer must also have been letting it.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: The only circumstance where one would do this is where one was letting it and where at the end of the letting period, one decided to dispose of it. One has to let it first.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: I think we introduced this measure in our second budget and that the Minister for Finance said at the time that the entire objective was to get transactions going again. During the past year, particularly in some parts of the market, we have seen significant improvement. However, this has not been replicated in all parts of the country. The objective of moving the date to the end of 2014...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: It depends on the assumption of the methodologies employed.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: I thank colleagues and the debate has been useful. I will give a commitment to produce a note before the committee by the end of quarter 1 in 2014.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: I move amendment No. 70: In page 60, to delete lines 25 to 38, and in page 61, to delete lines 1 to 4 and substitute the following:“ “(1B) (a) In this subsection—‘connected person’ has the same meaning as in section 10; ‘debt’ means a debt or debts, in respect of borrowed money, whether incurred by the person making the disposal of an asset or...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: I apologise it did not happen on this occasion. It is a point we will have to incorporate into the consideration of the Bill.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: I move amendment No. 71: In page 61, to delete lines 7 to 28 and substitute the following:“41. (1) Section 598 of the Principal Act is amended in subsection (1)(a), in the definition of “qualifying assets”, by substituting the following for paragraph (v):“(v) land which has been let by the individual at any time in the period of 15 years ending with the disposal...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: The person has to be farming for ten years to obtain the benefit of this. Yes, it is an extension and moves outside the nuclear family model. The objective, however, is to ensure the land can be passed on to a younger farmer. The relief will only apply in circumstances when the land has been let for a ten-year period.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: There is no change in the tax rates and bands. It is good news.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: These are discussions we have at ECOFIN meetings constantly. The issues are exactly the same. We had a very useful discussion in Lithuania on the basis of the OECD report and on how we move from the current double taxation agreements to the automatic-exchange-of-information agreements, which was discussed before this committee in the past. Countries raised at the meeting the view that if...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: Could we be given some time to collate all the information and produce a report for the committee? It would be helpful. Perhaps it could be produced in the early part of next year.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: The point is that the EUROSTAT figure is 6.8% and the European Commission figure is 14.4%. The public and the Deputies rightly ask how the figures can be reconciled. The argument I am making is that the EUROSTAT figure is actually based on macroeconomic information, not necessarily on tax. A report laid before the committee might help to distil the issues.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: It will take a little longer. It may be in the first quarter of next year.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: Does the Deputy want us to do it for every other country also?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: The way in which we have been approaching this subject - we have had regard to comments that have been made by colleagues at the committee throughout the year and during the annual Finance Bill process - is to look at an assessment, subhead by subhead, of the effectiveness of tax. When the Minister produced his statement this year, a number of reports were issued that day on the...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)
Brian Hayes: We have budgeted for that.