Results 11,201-11,220 of 18,851 for speaker:Fergus O'Dowd

National Treasury Management Agency (Amendment) Bill 2014: Report Stage (Resumed) (9 Jul 2014)

Fergus O'Dowd: The purpose of the fund is to make commercial investments to support economic activity and employment. If the money is used to pay for what one might call normal Government expenditure, however worthy that might be, the fund is simply another source of funding for the Exchequer and one must borrow it and pay interest on it, which means that Government expenditure elsewhere must be cut back...

National Treasury Management Agency (Amendment) Bill 2014: Report Stage (Resumed) (9 Jul 2014)

Fergus O'Dowd: I think I have made my case.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: I have been advised that betting exchanges are exempt from VAT on the basis that they are in competition with bookmakers and essentially offer the same services to punters. If it is helpful, I can forward a note on this matter to the Deputy afterwards.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: It is on the basis of which that the opinion is formed by the Department.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: We will forward a note to the committee for the Deputy.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: The Revenue Commissioners are responsible for the administration of VAT and the tax affairs of individual taxpayers. They are independent of the Minister in this regard. Therefore, it is Revenue that would provide a note.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: We will forward the facts and the reasons the opinions are held.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: Yes.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: Who won the match?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: Notwithstanding the Deputy's comments, the gambling control Bill is expected for early 2015. The Deputy has raised matters very well and they should be debated. It would be difficult for me to bet on Louth currently. I may have to wait until Deputy Fitzpatrick becomes the trainer again for the odds to improve again. The point is well made.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: I am happy to bring the comments to the Minister but I have been advised that the measure should be part of the Bill in the January 2015 legislative programme. I will bring the matter directly to the Minister's attention. It would be fine if the Deputy tabled an amendment for Report Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: Of course.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: That is fair enough.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: I know what the Deputy is saying. The Minister will be happy to examine the issue.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: Fine.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: I move amendment No. 30: In page 41, between lines 33 and 34, to insert the following: “Tax clearance certificate in relation to licence under Act 38. Section 1094 of the Taxes Consolidation Act 1997 is amended, in the definition of “licence” in subsection (1), by the substitution of the following paragraph for paragraph (c):“(c) section 7(3), 7B(3) or 7C(3) of the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: In Ireland the VAT Consolidation Act provides that bets placed with bookmakers or on the tote are exempt from VAT. European Court of Justice jurisprudence has confirmed the principle of VAT fiscal neutrality with gambling, namely, that the exemption applies regardless of the medium through with the bet is placed, once the services provided are identical or similar from the perspective of the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: There is no betting duty on it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: The points made by the Deputies are very well made and will need to be properly examined. As they have acknowledged, this is the start of the process. Clearly once the gambling control regulator is in place, all these issues will need to be addressed. The Deputies are pushing an open door in terms of the points they are making. I will obviously bring their points to the Minister's...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Betting (Amendment) Bill 2013: Committee Stage (9 Jul 2014)

Fergus O'Dowd: Our former colleagues, Mr. Brendan McGahon and Mr. Charlie McCreevy, made the argument in the past about doing away with betting tax. There was a major campaign at the time. It might have been in the 1980s. They succeeded and they claimed there was an exponential increase in betting as a result. The points are very well made and I think the Minister will pay attention to them.