Results 81-100 of 34,411 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 56: In page 73, line 20, to delete “paragraph (c)” and substitute “subparagraphs (i) to (xiv) of paragraph (c)”.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The participation exemption provides for a double relief tax mechanism, delivered through a participation exemption from Irish corporation tax. It applies to a relevant distribution made from profits or qualifying assets on, or after, 1 January. Distributions made out of either profits or qualifying assets cannot be deductible for foreign tax purposes and must constitute income in the hands...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I am extremely conscious, even as I explain this, that it is highly technical. I can provide a further note to the Deputy in advance of Report Stage to clarify this further.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 58: In page 78, between lines 25 and 26, to insert the following: “(b) in subsection (7), by the substitution of the following paragraph for paragraph (a): “(a) where, other than the holding of shares in an investing company or investing companies, the only business of the first-mentioned company is the on-lending to the investing company or...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Sure, we can do that.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 59: In page 79, to delete lines 18 to 30 and substitute the following: “(c)(i) For the purposes of calculating the amount of interest to which paragraph (b) applies, the principal on the connected loan shall not exceed— (I) the principal outstanding on the borrowings of the connected seller in respect of the asset concerned at the time...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 60: In page 79, line 31, to delete “a transfer” and substitute “an acquisition”.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Of course. This section amends section 891H of the Taxes Consolidation Act 1997, which was introduced in the Finance Act 2015 and provides for country-by-country reporting. Section 891H gives effect to the OECD base erosion and profit shifting, BEPS, project recommendations for country-by-country reporting and Council Directive EU 2016/881 of 25 May 2016, which brought the OECD BEPS...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Overall, in terms of the increase in the value of the scheme, at the moment, as the Deputy knows, it has a lifetime limit of €1 million with regard to the disposal or disposals of chargeable business assets made by a relevant individual on or after 1 January 2016. The Bill will amend the existing lifetime limit of €1 million, increasing it to €1.5 million for gains...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The Indecon report, at that point, recommended that we increase the lifetime limit to €12 million. I think it was recognising that the overall limit in place of €1 million might not be of sufficient scale to incentivise investment in entrepreneurial activity. It believed we should be making a very, very significant increase of it all the way up to €12 million. That is...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I hope the impact will be that those numbers of people who were involved in the set-up of businesses might either decide to be involved in the creation of new ventures in the future as a result of this change or might decide that they will further grow the venture they are involved in over the time ahead because the gain they will get out of the disposal of a share in that business is now...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 62: In page 83, between lines 29 and 30, to insert the following: "Amendment of Chapter 1 of Part 2 of Finance Act 1999 (Mineral Oil Tax) 51. (1) Chapter 1 of Part 2 of the Finance Act 1999 is amended— (a) in section 94(1), by the insertion of the following definitions: " ‘appropriate procedure’ means— (a) in relation to biofuel for...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The restrictions of carbon tax reliefs are anticipated to have a very minimal effect. This is for two reasons. All the big energy producers are in the ETS1 sector and the relief is not being restricted for them. Also, renewable energy used to generate electricity is exempt from carbon tax and electricity tax. Additionally the provision will not be commenced until 2027 at the very...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: We think it could be close to zero.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Close to zero or a few euro.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I am sorry. I just need a moment. I need to get my new folder. Would the Deputy mind repeating the question?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: As I understand the Deputy's question, it goes back to the answer I gave her a moment ago. All of this relates to the interplay between our carbon tax regime and emissions trading system 2, ETS2. The majority of our energy for domestic purposes is generated from the ETS1 sector. With regard to household energy consumption, these changes will have minimal effect. Again, we are talking...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: This section provides for excise duty increases on tobacco products with effect from 8 October 2025. The increase amounts to a 50 cent inclusive increase on a pack of 20 cigarettes in the most popular price category together with pro rata increases for other tobacco products. Assuming full pass-through to the retail price point, the price of a pack of 20 cigarettes in the most popular price...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: It has gone up in every year I can remember. It has certainly gone up in every budget in which I have been involved, in one way or another, since 2016. Of course, it is always difficult to disentangle the impact of price and the impacts of changes in behaviour and attitudes to health. However, the advice I continue to receive from the Department of Health is that changes with regard to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: It will probably be provided to me in a moment. I know Revenue regularly does such analysis and it has pointed to growing evidence as regards what is unfortunately quite a significant illegal sourcing of tobacco, including cigarettes. The most recent survey I have access to today, which was conducted in 2024, found that the level of illegal cigarettes had increased from 19% to 26% between...