Results 8,781-8,800 of 32,569 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: The CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. Details of the CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as set out in the legislation, have been published on...

Written Answers — Department of Finance: Banking Sector (21 Apr 2021)

Paschal Donohoe: As the Deputy may be aware, under a previous Programme for Government commitment I have thoroughly examined the possibility of implementing a public banking system. My Department published a paper in December 2019 by Indecon Consulting on an Evaluation of the Concept of Community Banking in Ireland. This was a follow on to a previous paper on Local Public Banking published by my Department...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I am pleased to have the opportunity to appear before the committee today in connection with the 2021 Revised Estimates for the Department of Finance for Vote 7 and for the other Votes within the finance group: the Office of the Comptroller and Auditor General, Vote 8, the Office of the Revenue Commissioners, Vote 9, and the Tax Appeals Commission, Vote 10. I look forward to an exchange with...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: The Deputy is right to say that President Biden's proposals have had a very considerable impact on the process under way in the OECD. Ireland's 12.5% tax rate is a very stable, competitive and transparent rate and one I stand behind. Regarding a global minimum effective tax rate, the principles of what that figure is and how it will be implemented have yet to be discussed within the OECD....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: First, we are participating in a negotiation. This is not a debate, it is not an academic process. This is a negotiation which will be unfolding across more than 120 countries within the OECD and clearly the very largest countries within the debate, namely those in the G7 and G20, have made the case for a global minimum effective tax rate. However, while the US Government has said what the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: Yes, I believe it is.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: We would not have got into that level of detail yet because the only expenditure ceiling I published in the SPU was a total Government figure for current spending of 3.5%. I am not aware that it has been broken out at departmental level up to 2025.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I do not have the information to hand to be able to answer that question.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: The Cepartmental element of it is a matter for the Minister, Deputy Michael McGrath, and I am responsible for the total ceiling. To the best of my knowledge, the Departmental element of that does not now go out all the way up to 2025.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: Of course.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I was very clear when I published the SPU that it was being prepared on a no policy change basis. It will be the case that if the Government makes further decisions that influence the level of expenditure we have for next year and beyond then that will change the expenditure ceilings. As the Deputy knows, the SPU is prepared strictly on the basis of decisions that have already been taken...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I do not have the cost of the consultation. I will by all means share it with the Deputy. The report has not been published. I was considering it during the last Government and have not published it to date.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I will consider when I publish it. It was made available to inform me and help me in policy choices I might make about the banking sector and I did not make a set of choices that merited the publication of the report.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I am willing to publish it. I will consider what is the right point to do that, to inform the debate we are having on the banking sector.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I spoke to the Attorney General in respect of that matter. The advice from the Attorney General was that Goodbody would not be subject to that charge. From a policy point of view, that particular charge was brought in with a view to it applying to our retail banks. Goodbody is a stockbroker, it is not a retail bank. I emphasise that following the decision I made, anybody who is working...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I did not have to change the rules. I had to make a policy decision and I made it. Events that have happened since proved the value of a company like Goodbody, which is an Irish company, being in stable ownership.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: It was about jobs. The policy decision I made was that remuneration policy not intended to apply to Goodbody in the first place would continue to not apply to it. If I had not made that decision, it is my view that this purchase would not have gone ahead. There is value to Irish jobs and our economy in having at least one of our stockbroking firms in the stable ownership of an Irish...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: I am aware of the issue. It is a very serious matter. However, I came to answer questions about the Estimates for the Department of Finance. I do not have the kind of detailed briefing I would need in order to speak on the matter to which the Deputy refers. Given the seriousness of the issue, I do not want to speak on it until I have such a briefing. If the oral question to which the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: Sure.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2021
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (20 Apr 2021)

Paschal Donohoe: On the first question, a huge amount of focus goes into how we can support and further grow the financial services sector here in Ireland. In the post-Brexit environment we have had a number of important successes with regard to that, with companies either moving their headquarters to Ireland or a number of existing companies significantly expanding the number of people they employ here. In...