Results 10,081-10,100 of 32,547 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: It is recognised that the transition to alternatively-fuelled vehicles is a significant challenge for the road haulage sector. The movement of goods by road remains the second biggest source of transport emissions after private car use. At an EU level, the critical need to reduce emissions from transport has led to agreement on implementing increasingly stringent emissions standards for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: Before addressing the substance of these amendments I would like to take the opportunity to advise the committee that I am considering bringing forward an amendment on Report Stage on the matter of accelerated capital allowances for farm safety and adaptive equipment. The employment and investment incentive, EII, is a state aid measure operating within the EU's general block exemption...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: The analogy the Deputy drew as to what would happen if Google were to withdraw out of Dublin, and his point that there would be a task force and plans put in place to try to deal with the withdrawal of a large employer from a city, is correct. It is just that, even in that context, the plans to fill a building and to replace jobs would not come through the kinds of targeted tax incentives he...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I thank the Deputy. The Irish corporation tax regime contains a small number of tax reliefs, including the research and development tax credit and the knowledge development box. The focus of these reliefs is on the creation of additional employment and on promoting innovation and inward investment, with a view to generating high value-added economic activity in the country. Deputy...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: In response to the Deputy's questions, the Central Statistics Office survey on business expenditure on research and development carried out in Ireland indicates that most firms conducting research and development in Ireland are small and Irish. However, the total expenditure on research and development is indeed dominated by large, international firms. Irish owned firms constituted 82% of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: The EU list of non-co-operative jurisdictions for tax purposes is intended to encourage jurisdictions with harmful tax practices in place to address those features of their tax code in order to enable fair and effective corporation taxation in the European Single Market. The purpose of the list is to encourage positive change through co-operation. The listing of countries is based on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I propose to take amendments Nos. 160 and 165 together as they are thematically similar. Aggressive tax planning by multinational companies is a global problem that requires a global solution. We have demonstrated our commitment to being part of this solution by actively participating in international tax reform, enacting domestic legislative changes and supporting the development of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I will get the information for the Deputy. I do not believe there has been a change in the format of reporting, but I will confirm that in the same communication.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: The disclosure requirements are the same across the EU, so there is no possibility for taxpayers to engage in any kind of disclosure arbitrage. The requirements are the same and under the agreements that we have now in respect of the exchange of taxpayers' information, it would be open to the Revenue Commissioners to access the declaration that is made in other tax jurisdictions. This...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I agree with the Deputy about the need for us to do all we can to respond to the great challenges we have in providing good homes for our citizens. I too have a lot of experience of this matter in my constituency. This area has been the subject of a lot of reports. The amount of land that is classified as being vacant in public debates on the matter is overstated. This is being debated in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: The issue of vacant land, issues of ownership, and the role tax can play in these have been long debated within this committee. I do not want to raise expectations around what the commission on taxation will do but this specific issue of vacant land, derelict properties, the role of tax and how we can penalise where necessary and have the right incentives in place through such penalties are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: At this point I will signal Report Stage amendments overall, if I may. To date, we have signalled an amendment relating to sections 11,15 and 60. Earlier today I noted a Report Stage amendment when speaking to amendments 158 and 159. I also want to signal the possibility for an amendment relating to section 44. On the matter raised by the Deputy, the issue of wealth taxes has been long...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I move amendment No. 173: In page 81, to delete lines 37 to 39, and in page 82, to delete lines 1 and 2 and substitute the following: “(b) In this subsection ‘shares’ includes any legal or equitable interest or right in, or in relation to, a share, whether such interest or right is directly or indirectly held, and, without prejudice to the generality of the foregoing,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I move amendment No. 174: In page 82, to delete lines 21 to 25 and substitute the following: “(b) In this subsection ‘shares’ includes any legal or equitable interest or right in, or in relation to, a share, whether such interest or right is directly or indirectly held, and, without prejudice to the generality of the foregoing, shall be deemed to include— (i)...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: I move amendment No. 175: In page 82, after line 40, to insert the following: “(5) The Stamp Duties Consolidation Act 1999 is amended in Part 6 by constituting sections 68 to 78 as Chapter 1 of that Part and inserting the following Chapter after that Chapter: “CHAPTER 2 Special provisions relating to dematerialised securities Interpretation (Chapter 2) 78A.(1) In this...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: Section 62 inserts a new section 28C into the Emergency Measures in the Public Interest (Covid-19) Act 2020 to provide for the warehousing of temporary wage subsidy overpayments received by employers which must be refunded to Revenue. Section 28 of the Act legislated for the TWSS introduced by the Government to provide financial support to workers affected by the Covid-19 crisis. The scheme...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: The Deputy's interpretation is correct, but I should state that if a taxpayer is engaging with the Tax Appeals Commission, he or she does not have to pay the tax that is being disputed. However, the Deputy's interpretation is correct.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: That is correct.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: We debated this issue during consideration of the Finance Act 2019 and went through the detail of the matter. I am not in a position to accept the amendment. I will outline the reasons I differ with the Deputy in respect of this policy. I will send him a note between now and Report Stage in which I will outline why his rationale for advocating this amendment is not one I can support. ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2020: Committee Stage (Resumed) (18 Nov 2020)

Paschal Donohoe: The rationale behind income tax relief for health expenses is broadly intended to provide assistance for significant or exceptional health expenses. Expenses for treatment of a routine nature or minor nature are, therefore, typically excluded. An example of this is that routine dental treatment does not attract the relief, though orthodontic treatment does. Consistent with this...