Results 7,501-7,520 of 33,175 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 61: In page 86, to delete lines 1 to 21 and substitute the following: “(b) without prejudice to the generality of section 886, where the company fails to provide, when requested to do so by the Revenue Commissioners, for the purposes of verifying compliance with the provisions governing the relief or with any condition specified in a certificate issued by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 62: In page 86, line 22, before “where” to insert “in relation to a claim under subsection (20),”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 63: In page 86, to delete lines 42 to 44 and substitute the following: “(ii) where an interim certificate has been issued to the company in relation to an interim digital game, any conditions attaching to the interim certificate have been fulfilled, and”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 64: In page 87, line 38, to delete “production” and substitute “development”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 65: In page 90, between lines 15 and 16, to insert the following: “(c) the number of the certificate of incorporation of the company; (d) in respect of the principal activity carried on by the company, the NACE classification code, as determined in accordance with Regulation (EC) No. 1893/2006 of the European Parliament and of the Council of 20...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 66: In page 90, line 16, to delete “(c)” and substitute “(e)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 67: In page 90, line 21, to delete “(d)” and substitute “(f)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 68: In page 90, to delete lines 27 to 37, and in page 91, to delete lines 1 to 3 and substitute the following: “(g) the territorial unit, within the meaning of the NUTS Level 2 classification specified in Annex 1 to Regulation (EC) No. 1059/2003 of the European Parliament and of the Council of 26 May 2003 amended by Regulation (EC) No. 1888/2005 of the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 69: In page 91, line 4, to delete “(f)” and substitute “(h)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: As the tax credit for digital games is a cultural relief, in order to avail of the credit a digital games development company must first apply to the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media for a cultural certificate. As part of the certification process, a digital games development company will be required to complete an undertaking in respect of quality employment...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: We originally had this in place for a three-year period. Due to the impact of the pandemic, businesses that may have wanted to access this relief were not able to do so. I am extending it for a five-year period to give more opportunities to companies to avail of it as, I hope, we move into more normal trading conditions.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Section 35 amends section 835 of the Taxes Consolidation Act 1997, which provides for defensive measures, including the disapplication of exemptions available to controlled foreign companies resident in jurisdictions listed in Annex 1 of the EU list of non-cooperative jurisdictions for tax purposes for an accounting period. Controlled foreign company, CFC, rules are an anti-abuse measure,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: For me, the success of this procedure is demonstrated by the fact it is in flux. The way I think something like this should work is that if standards are agreed and if countries meet those standards, they should not be on this list. If they do not meet those standards, they should be on the list, but if they take action to remedy the issue the Commission raised, they should get the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Sinn Féin's inference is that it would not even meet them.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 42: In page 54, to delete lines 23 to 25 and substitute the following: “(i) An Bord Pleanála, under section 9 of that Act, or (ii) a local authority, under section 170 of the Planning and Development Act 2000,”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: This section is an anti-avoidance provision that denies a tax deduction for interest payable on intra-group borrowings which are used to purchase assets from the connected company. I will deal in a moment with the Deputy’s question regarding how we define “connected”. It was designed to prevent companies from selling assets, such as plant or machinery, between group...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I will quickly go back to the question Deputy Farrell asked me earlier on how to define a connected company. There are two criteria for it laid down in the Finance Act of 2019. To quickly summarise, the first is that if the same person has control of both companies, or a person has control of one company and is connected with the first-mentioned person, or the first-mentioned person and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I would be happy to look at it in the Tax Strategy Group process. The draw-down of the research and development credit for small and medium enterprises for 2019 stood at €801 million. I know that does not give a break down into microcompanies and the smallest companies that are starting up. From the figures that I have here, it looks as if the research and development credit...