Results 11,621-11,640 of 35,639 for speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I move amendment No. 70: In page 82, between lines 29 and 30, to insert the following: “Report on restoring cap on intangible assets 34.The Minister shall, within 6 months of the passing of this Act, prepare and lay before Dáil Éireann a report on restoring the 80 per cent cap on intangible assets onshored between 2015 and 2017 that can be written off against profits at...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I thank the Minister for his reply, in respect of which there are two issues arising. It is not a theoretical cashflow issue. Rather, it is a cashflow and it does bring in €750 million. To suggest that it is theoretical is to suggest it is not there when it is there. If we decide to amend this, there will be an additional €750 million that can be accrued to the State coffers...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I have given the Minister the suggestion, and we have argued this up and down over recent years as to what is happening. I welcome his walk through how the figure of €722 million is arrived at in respect of intangible assets. There are questions as to whether these companies had a tax liability in the year and whether they used the full amount, which could reduce the figure and so...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I have heard what the Minister said about the review that has been taking place. It is not what I want here. I want to look at the issue and not just the volatility or the contribution. I do not want to rehearse it again but strong views have been expressed in that report by the chair of the Irish Fiscal Advisory Council, although he was not speaking in his official capacity. He came...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I move amendment No. 75: In page 84, between lines 22 and 23, to insert the following: “Report on applying Capital Gains Tax to all sales of property by IREFs 38. The Minister shall, within 6 months of the passing of this Act, prepare and lay before Dáil Éireann a report on applying the full rate of Capital Gains Tax of 33 per cent to all sales of property by IREFs, as...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: That is the way these things go. As I said yesterday, I am frustrated that we are still dealing with this issue and that these fund structures which are having an impact on both the commercial and residential property market do not pay an appropriate level of tax. I acknowledge that the Minister is not going to accept the amendment, but I wish to give some information on these structures. ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I am aware that IREFs will have to report but that does not take away from the statistics. There was a legal obligation on them to report if there was a taxable event and, therefore, we have to assume that the other IREFs did not incur a taxable event at the time. It is still the case that for IREFs which had a taxable event, dividends were disbursed. Some €649 million was disbursed...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I am going to have to press this amendment.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I move amendment No. 76: In page 84, between lines 22 and 23, to insert the following: “Report on Capital Gains Tax exemption or reduction 38.The Minister shall, within 6 months of the passing of this Act, prepare and lay before Dáil Éireann a report on a possible Capital Gains Tax exemption or reduction in cases where a carer moves into a relative’s home to care...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: The Minister is saying he will look at it again.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: Is this the section on tobacco excise?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I have a couple questions on the section, the first of which looks backwards. I support the increase in excise on tobacco products. Can the Minister or Revenue indicate whether last year's 50 cent increase delivered the €57 million increase in revenue that was anticipated at the time and if it came in on target? Regardless of which policy we adopt, and I support this change, it is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: Does the Minister or the Revenue Commissioners have any statistics on the performance of this tax head in 2019? Do we know, for example, if the forecast for 2019, which was around €64 million in additional revenue, if memory serves me, was accurate? Have we achieved that? I assume that in terms of 2017 and 2018, it is hard to read those years because the plain packaging of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I agree with the section and I agree with the policy but this is a very tricky issue. I have tabled an amendment on this and believe that a serious piece of research into this area would be very valuable in the context of the figures provided by Revenue, particularly against the backdrop of Brexit. As I commented earlier, with duty free, the landscape will change dramatically. In the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: I welcome that statement by the Minister. Even outside the considerations of Brexit, there is an issue here. If the statistics show that illegally consumed cigarettes, purchased outside the jurisdiction, have increased by roughly 3% and illicit cigarettes by 2% in the same period, it is a 5% increase but revenue for 2019 seems to be stable, to within €30 million of what was...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: This relates to the increase in carbon taxes. As I stated about the increase in excise duty on tobacco products, taxation can have the effect of increasing revenue or changing behaviour. In some cases it can do both. However, this carbon tax needs to be about changing behaviour because of the climate emergency. The reality is that this increase will have little, if any, effect on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: The fuel allowance payment does not necessarily go to the lowest income deciles in the State. The fuel allowance is particularly paid to those of an older age and those on long-term social welfare benefits. However, many of those identified in the ESRI report as being on the lowest incomes are not in receipt of fuel the allowance because they do not qualify for them. I would like the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: Does the Minister accept that households on some of the lowest incomes in the State do not receive the fuel allowance?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Pearse Doherty: There is, therefore, no protection in this budget for those households the ESRI has said the Government will make poorer as a result of this measure.