Results 8,701-8,720 of 35,567 for speaker:Pearse Doherty

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

Pearse Doherty: I move amendment No. 72: In page 92, after line 39, to insert the following: “Report on restricting banks from carrying forward losses 37.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on restricting the banks from carrying forward losses against taxable profits in a manner which could result in many...

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

Pearse Doherty: I do not want a report either but it is the only way we can table this issue. I want the Minister to take action and revert the measure. I want the banks, AIB and Bank of Ireland, which will make significant profits, to pay tax on those profits by limiting the volume of losses that can be carried forward in a given year, but he is not going to do that. I have read the report but I still do...

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

Pearse Doherty: The Minister's argument is that if we do not tax the banks, there might be a cheaper interest rate on mortgages, even though it is the highest in Europe, or the banks might lend into the economy. It does not make sense. He stated we treat them the same as any other bank but we do not. In regard to AIB, Bank of Ireland and Permanent TSB, there is a relationship framework with the Minister...

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

Pearse Doherty: I might table less radical proposals in future. Tax on the banks is probably a stretch too far for many in this room.

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

Pearse Doherty: I move amendment No. 73: In page 92, after line 39, to insert the following: “Report on relief for investment in films in the context of employee pay and conditions within the sector 37. The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on film relief, in the context of the pay, conditions and training of...

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

Pearse Doherty: I move amendment No. 74: In page 92, after line 39, to insert the following: “Report on digital games relief in the context of employee pay and conditions within the sector 37. The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the digital games relief, in the context of the pay, conditions and training of...

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

Pearse Doherty: I wish to make a couple of points about this amendment, which deals with a new issue and one that I raised with Revenue recently. I wish to ask about how the amendment is drafted. I am obviously reading it wrong, so will the Minister take me through it? It states: then that relief shall be given in respect of the gain only to the extent (if any) to which such relief would be given if, in...

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

Pearse Doherty: And then we would exclude incidental costs. Let us say that, in my example, there are no incidental costs. We would be left with a value of €300,000. Is that now deemed the chargeable gain? The chargeable gain should be the profit of €200,000, or is the Minister saying that is the relief being provided?

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

Pearse Doherty: The purpose of amendment No. 75 is to deal with individuals who are raffling their principal private residence and the sum of money they are accruing in relation to that, to make sure that the portion above what they would be entitled to get relief on from their capital gains tax, CGT, would be captured by CGT if they received a sum through the raffle in excess of that. I understand the...

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

Pearse Doherty: I think that is fair. I will finish on this point. Any gain in excess of what one would receive from selling privately should be taxed and that is what is being considered here. My concern is that we would not introduce in the Bill the ability to collect revenue from what would be potentially an illegal activity.

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

Pearse Doherty: As I said, there are circumstances where this could be completely legal but it would have to happen outside our jurisdiction, and so on. My second concern is that in the definition of lottery and gaming we would need to ensure that we capture the British definition in prize competitions, if we are proceeding with this, . Perhaps it is captured in what we have but it would need to be...

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

Pearse Doherty: The section deals with online or cross-Border mergers. Can the Minister outline to us please what this technical amendment does? While we are dealing with cross-Border mergers, I am aware that the Minister had a lengthy discussion yesterday on cross-Border workers. Arising from last year’s Finance Bill the Minister agreed to look at this in a tax strategy paper and that, I believe,...

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

Pearse Doherty: I appreciate that.

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

Pearse Doherty: I thank the Minister.

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

Pearse Doherty: Was this amendment already discussed?

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

Pearse Doherty: I will discuss it when we come to the section again.

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

Pearse Doherty: I move amendment No. 76: In page 93, between lines 18 and 19, to insert the following: “Report on the application of capital gains tax to all sales of property by REITs and IREFs 39.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the application the full rate of capital gains tax of 33 per cent to all...

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

Pearse Doherty: Yes, I am.

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

Pearse Doherty: I move amendment No. 77: In page 93, between lines 18 and 19, to insert the following: “Report on the introduction of a higher rate of capital gains tax on high-income individuals 39.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the introduction of a 40 per cent rate of capital gains tax on the disposal...