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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statute Law Revision Bill 2016: Committee Stage (8 Dec 2016)

Eoghan Murphy: We discussed this matter on Second Stage. We talked about pausing this current piece of work because there are other priority areas on which the particular unit that deals with this area feels that it needs to focus in the course of next year. As I explained to Deputy O'Callaghan at the time, Statute law revision is important work that has been ongoing for a number of years. There is more...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statute Law Revision Bill 2016: Committee Stage (8 Dec 2016)

Eoghan Murphy: That has yet to be determined. I can give the Deputy a note on the priority areas that we are considering.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statute Law Revision Bill 2016: Committee Stage (8 Dec 2016)

Eoghan Murphy: Yes. When that work is completed, we will be able to consider this matter again.

Seanad: Commencement Matters: Public Procurement Contracts Social Clauses (7 Dec 2016)

Eoghan Murphy: Public procurement is governed by the EU treaty, EU directives, regulations and national guidelines. These set down rules whereby contracting authorities must award contracts under procedures designed to achieve value for public money in an open, transparent and non-discriminatory competitive process. The rules recognise that public procurement can be used to promote wider economic, social...

Seanad: Commencement Matters: Public Procurement Contracts Social Clauses (7 Dec 2016)

Eoghan Murphy: There is nothing standing in the way of a local authority introducing social clauses into its procurement contracts. Local authorities procure a significant amount of goods, services and capital works and have been doing so for decades. They have the resources where they want to or should introduce a social clause based on the information already in the public domain and on what the OGP has...

Seanad: Commencement Matters: Public Procurement Contracts Social Clauses (7 Dec 2016)

Eoghan Murphy: I cannot now but centralising the procurement function in government is a relatively new enterprise undertaken by the last Government. It is doing incredible work in finding value for money, making sure we are not just chasing the bottom line when we procure but that we take into account other factors in procurement contracts and in rolling out pilot projects under social clauses. As the...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: As the Minister for Finance said in his budget speech, high marginal tax rates act as a break on employment. They discourage people from taking jobs and emigrants from returning. Resources available to the Minister in this budget were limited. In line with the programme for Government, he has chosen to focus the budget 2017 income tax package on low and middle income earners, building on...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: The ISIF informs me that to date in 2016, Activate Capital has provided site and working capital finance for the delivery of more than 1,200 new homes. Activate Capital's pipeline for new home construction funding is strong, and the consistent feedback from developers and builders is that this specialist form of residential development lending is valuable in helping kick-start the housing...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: The most recent report on the special assignee relief programme in respect of the 2014 tax year showed that 302 employees availed of it in that year. It also showed that 126 jobs were created and 708 jobs were retained as a result of the incentive. The cost of the scheme to the Exchequer in 2014 was almost €6 million. Section 10 provides for the extension of the programme as...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: I believe the Senator had an opportunity to engage with officials on this matter. There has been some confusion since the registered farm partnership regime replaced the milk production partnership regime. Revenue is currently preparing a booklet on the taxation issues around registered farm partnerships, including the implications of the cessation rules. This is due to be published before...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: This matter was discussed at length in the Dáil. The Department's view is that a report prepared within three months of the passing of this Bill is unlikely to reveal anything we do not already know. The issue is not a lack of desire to reduce the rates of exit tax and other taxes that have previously been linked to the rate of DIRT, but the not inconsiderable cost of moving all the...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: I thank the Senator. The Irish tax code taxes people on the profits they earn. Profits are calculated after taking account of deductions incurred wholly and exclusively in the course of the business from which the profits arise. The Irish tax code does not generally disallow a transaction with a connected person, simply because it was with a connected person, if that transaction is carried...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: I thank the Senator for raising this issue. We had an extensive debate on this in the Dáil on Committee and Report Stages and I do not want to repeat comments that were made there. For the sake of brevity, while I do not propose to accept the recommendation, during the debate on the issue in Dáil Éireann, the Minister, Deputy Noonan, undertook to make a more expansive note...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: I thank the Senator for the recommendation. This work has been done very recently. In April 2014, the Department of Finance published a technical paper on effective rates of corporation tax in Ireland. The paper was jointly written by the Department of Finance and Mr. Seamus Coffey of UCC to ensure that the work was as objective as possible. The paper contained a comprehensive analysis of...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: It is on VAT in respect of charities.

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: As the Minister, Deputy Noonan, mentioned in the recent budget day speech, he has asked his officials to engage again with the working group the Senator referred to with a view to reviewing the options available to provide compensation to charities as regards the burden of VAT while being mindful of fiscal constraints. I understand officials have already met with the Charities Institute...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: For the purpose of gift and inheritance tax or, as it is known, capital acquisitions tax, CAT, the relationship between the person who provided the gift or inheritance and the person who received the gift or inheritance determines the lifetime tax-free threshold, which is known as the group threshold. There are three such group thresholds, called the A, B and C thresholds, and this section...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: The pensions system in Ireland is composed of two main pillars. The first is the State pension system and the second involves supplementary pension arrangements provided through a variety of arrangements that are incentivised and regulated by the State. The State has historically encouraged individuals to make provision for their retirement in order to supplement the basic State pension...

Seanad: Finance Bill 2016: Committee Stage (7 Dec 2016)

Eoghan Murphy: The Minister, Deputy Noonan, gave a commitment on Committee Stage in the Dáil to review the operation of the betting tax regime as part of the 2017 tax strategy group process. If the Senator would agree to withdraw the recommendation, I will ensure that this area of on-course bookmakers is also examined as part of that process.

Seanad: Commencement Matters: Tax Code (6 Dec 2016)

Eoghan Murphy: I thank Senator Richmond for raising the issue and giving me the opportunity to update the House on the matter. The Minister, Deputy Noonan, and I were surprised and disappointed to learn in September that the Brazilian Federal Revenue Service had, without warning, added Ireland to Brazil's tax blacklist. The operation of the listing was initially backdated to 1 August but it was...