Results 1,141-1,160 of 4,810 for speaker:Liam Twomey

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Every member is permitted to make a point of order and this will be taken into account also.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: Thank you very much, Mr. Tobin. Deputy Michael McGrath will start off the questions.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Shifting: Discussion with Department of Finance and Revenue (18 Sep 2013)

Liam Twomey: We will discuss the review of the global taxation architecture in the context of base erosion and profit shifting. I welcome Mr. Gary Tobin and Ms Kate Levey from the Department of Finance. Mr. Eamonn O'Dea and Mr. John Fanning from the Revenue Commissioners are also in attendance. The format of the meeting will be that Mr. Tobin will make some opening remarks which will be followed by a...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Deputy Dara Murphy wishes to comment.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Before Professor Barry responds, I remind Deputy Dara Murphy that representatives of the Revenue Commissioners and Department of Finance will appear before the joint sub-committee tomorrow.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Senator Sean Barrett will make a final comment.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: We are waiting for the G20 to produce solutions. I thank Professor Barry for the briefing and giving his time to the joint sub-committee for this very useful discussion.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: I have a few questions for Professor Barry. What are we gleaning from taxpayers and shareholders in America? Over the years, people have been starting to realise that the figures we are talking about are in billions. As Professor Barry said, there were a few patents around but they were not that valuable. In the grand policy scheme, the State Department saw this as an opportunity for...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: It is a very international way of doing things. A general amnesty could move a huge amount of this money back into America. It could give a lower effective tax rate on it. It could provide a stimulus for the US Government, while at the same time getting them over many of the problems they are currently discussing.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Right.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: In the course of the conversation we have had so far, it would seem there is little stimulus on behalf of US law-makers or policy-makers to instigate too much change in what is happening right now.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Would Professor Barry mind if I offered a brief supplementary question to all other members of the committee?

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Is that the Deputy's final comment?

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: I will bring in Deputy Donnelly.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Our work relates to-----

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: -----carrying out a review of global taxation architecture in the context of base erosion and profit sharing.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: I just wanted to inform the Deputy.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: We must move on to the next speaker. I call Deputy Dara Murphy.

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: I thank Professor Barry. Before I move to other members, I will ask some quick questions. What I gather from Professor Barry is that this is a tax avoidance issue that dates back to 1997 and the check-the-box issue from the US. To deal with any problems the corporations had with this, they managed to persuade Congress to push legislation through, creating the look-through rule which...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)

Liam Twomey: Professor Barry said that what goes on in the Caribbean suits some of the American corporations. He might give us a very short note on that. What is more interesting is the recent OECD report on base erosion and profit shifting. Can Professor Barry give me an idea why the EU is coming to talk to us when it is bypassing the City of London and Washington? There is a sense that it is the...