Results 6,881-6,900 of 14,090 for speaker:Marc MacSharry
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: If I have a gardener, he can cut hedges as well as grass. I am not going to put out a tender for a hedge cutter, just because I have not seen him cut them before.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: The main question is what is the Department's calculation of the cost of these managers and infrastructure, and who is paying for it?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: On the basis that it is commercially sensitive and our job is the oversight of taxpayers' money, we are interested to know if there is no calculation of it; if the Department cannot share it, it is one thing. Why is there no calculation of it? There is a clear exposure to the State? How much to these people cost? How much does the infrastructure cost? That is a cost incurred by the State...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: Yes, it is about our former colleague, Deputy Madigan. She went straight into the Cabinet. Can all committee members expect that?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: I welcome the witnesses and thank them for all the work they do in Revenue and the Department. I am glad to have the opportunity to make a few points. I apologise if I am sometimes abrupt but that is the nature of the beast in here. The delivery can be a bit adversarial but it is not personal. I often think that when it comes to dealing with matters relating to Revenue and taxation we...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: That is good. I often see these determined as 'the cost of double taxation to the State was €X millions'. When we use that language we must make it clearer for the taxpayer because in real terms it is not a cost to the State. It is not money we are paying out. For people's peace of mind it is important for them to understand that these people invested €X millions in research...
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: What is a CFC rule?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: Basically, it a different system to achieve the same outcome.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: Is there a cost implication to changing to that system?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: So there could be a costs in terms of resources that will need to be applied in this regard.
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: The term "professionally sceptical" is a good term. Another term used is "transfer pricing". I note that the report also mentions changes to Ireland's domestic transfer pricing legislation. Can whomever is best placed to define "transfer pricing" do so?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: In the case of a company based in America that produces a product and sells it to its subsidiary in Ireland for X amount, which the subsidiary then sells on the open market for X plus 300% and therefore, all of the profits are with us, is our system robust enough on transfer pricing to protect against this?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: As things stand, could I as a pharmaceutical company produce a drug in, say, America, and sell it to my subsidiary in Ireland to put into boxes and then sell it from Ireland at X plus 300%? As things stand, is that legally possible?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: I refer to a scenario in which they are related. What is the position if the company in question is giving a sweet deal to a subsidiary in Ireland in the full knowledge that the market price is 300% more but it does that to get the benefit of the 12.5% headline rate, rather than the 39% headline rate in the US?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: I appreciate that the US tax code may or may not allow this. In the event that the US tax code did allow this, does our tax code facilitate it?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: The Chairman understands the point I am making. Notionally or in practice, could very limited value be added to a product here, perhaps through packaging, in order to domicile the profits here?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: Is what I am describing possible in practice? Are we looking to improve it?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: How am I doing for time?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: I need a bit of injury time. In terms of intellectual property, what was the tax yield from the knowledge development box in 2015 and 2016?
- Public Accounts Committee: Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts (30 Nov 2017) Marc MacSharry: Are there any companies who have moved their domicile off-shore from Ireland to a more favourable tax regime in another country? If that data is available, how many such companies are there?