Results 9,941-9,960 of 10,460 for speaker:Gerry Horkan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: That is what I was coming to, in that the EU impact assessment was that countries would effectively have to increase their rates whereas we have already said we cannot.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: We have narrowed our base and we cannot increase our rate, so, effectively, before we start doing anything else, we are going to lose a certain amount of our corporation tax take.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: Exactly. Ms O'Brien makes a point about profits from trade outside the EU which are currently taxed in Ireland, which has nothing to do with the EU. I appreciate that most people do not know much about CCCTB but it is regarded as an EU project involving internal EU trade. However, it means that transfer pricing will still apply to non-EU markets but also that other countries will now be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: Will this be applied based on sales to Germany or France? For example, is it correct that the more EU sales we have to Germany, the more Germany benefits from our sales to Brazil?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: And France, because we sell more to Germany than to France, or vice versa.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: We have heard about the argument on BEPS and the anti-tax avoidance directive. Mr. Coffey pointed out this is already in place and the EU is trying to bring it in to the CCCTB, almost to make the CCCTB more saleable or more attractive, even though it was already there anyway. The CCCTB in itself does nothing to deal with BEPS or tax planning opportunities, as some might call it, or tax...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: The argument that might be put forward is that this is basically a profit grab by large countries at the expense of small countries.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: Both Ms O'Brien and Mr. Coffey have made the point that it is a very significant undermining of our tax sovereignty, in particular our genuine sovereignty in regard to how we determine our own future. If we are going to lose the figures Mr. Coffey is quoting, and it was not just pharma he was referring to in his concluding paragraph but also the US multinationals generally, that is an...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: It would be negative and significant.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: Mr. Coffey had a very good handle on the figures in his opening statement. For the companies operating in Ireland who pay 80% of corporation tax, or even the ten companies paying 40% of corporation tax, has he any idea of the proportion of tangibles relative to intangibles? For companies like Google and Facebook, eBay and PayPal, much of their value is intellectual property, brands and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: Which they may not own and, therefore, are not even on their balance sheets.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (Resumed). (13 Dec 2016)

Gerry Horkan: To conclude, it will be costly and unpredictable, it will result in a loss of sovereignty, it will be difficult and complex to introduce and, ultimately, it will put a huge hole in the Exchequer finances if it is implemented in anything like the way that is suggested. Is that a fair comment on both sides? On that basis, if no other members are offering to come in again, I thank Ms Cora...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Gerry Horkan: On the basis that no other speakers have indicated a wish to speak, I thank Mr. Sibley for his opening remarks and thank all of the witnesses for their contributions. The joint committee will adjourn until 2.30 p.m. on Tuesday, 13 December. I remind Deputies that the select committee will meet today at 12 noon.

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

Gerry Horkan: I move recommendation No. 1:In page 22, between lines 42 and 43, to insert the following:"(26) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the effectiveness of the Activate Capital development finance for residential redevelopment schemes under the Ireland Strategic Investment Fund and set out the options for a...

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

Gerry Horkan: Yes, and I accept the Minister of State's bona fides. I will be happy to withdraw it.

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

Gerry Horkan: Yes, I have done so after accepting the Minister of State's comments.

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

Gerry Horkan: I move recommendation No. 2:In page 38, between lines 5 and 6, to insert the following:"(3) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on application of tax liabilities on an individual within a farm partnership deemed under tax law to have ceased farming.". This recommendation calls on the Minister for Finance to...

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

Gerry Horkan: I am more than interested in horticulture, but I am not an expert on farm partnerships. I will give an example to explain where this amendment is coming from. If there is a farm partnership between a son and his retired father who remains in the partnership, the father will be taxed as if he were a farmer even though he has ceased farming. I would appreciate it if the Minister of State and...

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

Gerry Horkan: No, I accept the Minister of State's response.

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

Gerry Horkan: I move recommendation No. 3:In page 40, between lines 3 and 4, to insert the following:"(3) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the breaking of the link between the rate of DIRT and the rate of exit tax from life assurance policies, including the impact of this on life assurance savers.". This is another...