Results 11,201-11,220 of 34,618 for speaker:Seán Fleming
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: I will not go into the detail, but I have noticed an unusual situation which I have not seen too often. It involves deferred income. I will try to put it simply because I have only had a quick look at it. I get the impression that if Enterprise Ireland gives Teagasc a grant of a couple of million to do a job, if Teagasc does the job, the income is recorded in that year. If Enterprise...
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Why would anyone pay Teagasc upfront to do work, which means that it has to be held as deferred income?
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Sometimes it might not be a one-year issue.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: It is a rolling issue.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Teagasc has the cash.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Teagasc has the cash.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Will Professor Boyle talk to me about taxation? Teagasc made a profit of €5 million in the previous year. A figure of €8 million is also referred to. How much did Teagasc pay in corporation tax or income tax? A lot of its money comes from the Exchequer grant. I do not know if the income from it is deemed to be exempt, but Teagasc has other income.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Teagasc is a charity.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: VAT and PAYE. Of course.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Will Ms Kearney explain why there is a big figure in here of €110 million in deferred tax if she is telling me that Teagasc never pays tax? It is stated in note 22 on page 110 that €110 million has been provided for under "Provisions for liabilities - Deferred tax". If Teagasc is not liable for tax, why is that provision in there?
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Sorry, €110,000. That is a small figure.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: I want to ask about Moorepark. I ask our guests to bear with me a moment. I saw in a note somewhere that Teagasc has a 57% shareholding in-----
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: It is in note 14 on page 106. I just do not understand how the two work together. This comes under investments. On investments, I understand what Deputy Burke said, namely, that Teagasc might have a conflict of interest with shareholding in the co-operatives. I refer to the figure of €438,000. It is not major. Teagasc can always sell its shares. Let us be clear: farmers can get...
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: It is funny. When I read that, I said to myself, "Teagasc only has shares in the dairy industry." I think we have dealt with that, though. It is stated, "Teagasc has invested €650 in Moorepark Technology Limited and has a 57% holding in the paid up share capital of the company." Who has the other 43%?
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: Who are the shareholders who own the 43% then?
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: It does not matter. They are small.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: It is a small amount. At the top of page 110, note 25 states, "The non-controlling interest comprises shares in Moorepark Technology Limited." I do not get how Teagasc has a 57% controlling shareholding in note 14 and then has a non-controlling interest in note 25.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: The non-controlling interest.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: I understand. Note 25 does not relate to the 57% but rather to the 43%.
- Public Accounts Committee: Teagasc Financial Statements 2017 (4 Oct 2018)
Seán Fleming: It is all the same company.