Results 9,021-9,040 of 15,555 for speaker:Eoghan Murphy
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: In relation to windmills, we will get clarity on that and come back to the Deputy.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: It depends on the investor's own jurisdiction. They will be taxed according to the code in the jurisdiction in which the person is resident.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: If the investor is resident in a treaty jurisdiction, there would be no dividend withholding tax.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: Are we still talking about the Deputy's example and not the IREF? There would not be.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: There is no dividend withholding tax. Investors will pay tax in their home country depending on the treaty arrangements in place. They will not pay a dividend withholding tax, they will pay at the investor level in their home jurisdiction.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: In the home jurisdiction, the investor will pay tax on his or her income.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: No, I do not think so.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: There is none that I am aware of.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: We spoke about 10% being the ownership or controlling interest. That is why we have that limit. One is capturing it there as they would not be able to avoid the 20%.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: If they dispose of it within five years, there will be.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: I see what the Deputy is getting at in terms of a potential avoidance and we can reflect on that. I will speak to the Minister, Deputy Noonan, about a potential additional measure that might address that on Report Stage.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: We will reflect on the points made about capital gains tax between now and Report Stage because there are a couple of other points that I think are worthy of further consideration.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: I will speak to the Minister about it.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: With regard to the proposal that the Minister prepare within nine months a report on the subject matter outlined in the amendment, in 2010 the OECD published a report on the taxation of collective investment vehicles, or funds as they are more commonly referred to, which stressed the importance of tax neutrality for investments made through funds. As the investor will pay tax on any income...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: In 2015, the receipts from corporation tax were just under €6.9 billion. This equated to approximately 15% of the overall Exchequer tax receipts, which is in line with OECD averages. However, the final figure reflected a substantial increase on what had been forecast and on the prior year's amount. In order to get a better understanding of the increase in corporation tax...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: I move amendment No. 119: In page 47, to delete lines 31 and 32. When the three-year extension of the capital gains tax farm restructuring relief to 31 December 2019 was announced in budget 2017, it was understood that this extension would require State aid approval. Accordingly, a requirement for a commencement order for this measure was included in section 28(2) of the Finance Bill,...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: It is proposed that it is timely to review the operation of the revised betting tax regime. This will be undertaken through the work of the tax strategy group for publication in 2017 ahead of consideration of the budget for 2018.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: I move amendment No. 121: In page 57, to delete lines 2 to 6 and substitute the following: “34.Chapter 4 of Part 2 of the Finance Act 2001 is amended— (a) in section 136 by inserting the following after paragraph (c) of subsection (6): “(ca) to take account of and, without payment, take samples of any product referred to in section 97 and of any materials,...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: That is no problem.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)
Eoghan Murphy: The Revenue Commissioners' ready reckoner provides for a range within which an increase in excise on tobacco may result in increased or reduced revenues. This reflects the possibility that an increase in the price of cigarettes could result in a disproportionate change in consumer behaviour. The Minister for Finance has made no secret of the fact that in recent years increases in excise...