Results 12,761-12,780 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: Yes, a local company like Ford. Apple arrived in Ireland long before the corporation tax levels were put in place here and it came here for different reasons. Were such a company to consider opting for the CCCTB base as opposed to the existing corporation tax regime, Mr. Tobin's point is such a company could apply to have that tax model applied to that business. Would this be on the basis...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: Okay. I am trying to flesh out this issue in my head. In a situation in which, for example, Apple has one base in the Republic of Ireland and another in Poland - even though the financial headquarters is in Ireland - is it possible that Apple could operate two different structures? I refer to the company structure in another European state. Would it be possible for a company that is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I refer to any company that is located here and elsewhere.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I call Deputy Mathews first, as he will be taking the Chair in the Dáil Chamber shortly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: We have four minutes remaining. I would like Ms McVeigh to respond to the Deputy but if the time expires, she will not be able to do so.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I thank the delegates for appearing. The committee, as part of its work programme, hopes to consider the financial transaction tax in the first or second quarter of 2013. On Deputy Humphreys' point, I note the Department has examined the issue. We would be grateful if Ms McVeigh and her officials were available to appear before the committee once more in this regard. The committee would...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: We will now proceed to the scrutiny of COM (2011) 121/4, on the common consolidated corporation tax base, CCCTB. I welcome Mr. Gary Tobin, Ms Fay Kearney and Mr. John Fanning from the Department of Finance and from Revenue. The committee will first hear a short presentation from the officials following which we will have a questions and answers session. I remind all members to switch off...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I would be very grateful if Mr. Tobin adopted the latter approach and got straight to the kernel of the statement. I ask him to give us an update on progress.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: The Deputy is half way through his time and I do not want it to expire but Ms McVeigh will have to respond.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: To return to earlier comments on information on accountancy measures and revenue streams that become available at a European-wide level, it would be possible to find out what the Estonian and German revenue from these streams are just as we have income and VAT figures for the first quarter and the second quarter of the year. Is it an assumption or an identified measure that the Department of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I thank Ms McVeigh for that. I call Deputy Doherty and I will allocate him ten minutes and bring him back in later if I can.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I thank Ms McVeigh and her officials for coming before us to discuss the Council directive and the Council decision. I apologise for being absent when she was making her opening statement but I was obliged to be present in the Dáil Chamber. The Minister for Finance came before the committee last week and addressed this issue. Is Ireland's position on this matter that the jury is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: That is in strand 1. Would the matter be revisited if the number of countries involved increased?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: So the opportunity to become involved will remain open to us. In other words, we have not opted out indefinitely.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: Ms McVeigh stated that stamp duty is the measure by means of which income is derived from the financial services sector at present. Other than the application of stamp duty to shares, what mechanisms are available in this regard in respect of the IFSC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: Those are the only transactions to which tax is applied by means of stamp duty. What other types of transaction are taking place which do not come within the tax scheme?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: So the calculation of income at present specifically relates to stamp duty and nothing else?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I will continue with my questions on this matter before inviting members to contribute. A host of transactions are taking place in the IFSC and other financial institutions across the globe. One of the reasons Ireland has a financial services centre - and the reason all of these transactions are not emanating from London instead - is that ours is an English-speaking country in the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: I thank the officials for their contributions, which will, I hope, be useful in the discussions we will have on this issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Ciarán Lynch: Regarding COM (2011) 818, Mr. Gallagher states there are practical concerns regarding the requirements to base budgetary arithmetic on independent macroeconomic forecasts. He also said the draft regulation lacks detail. One of the concerns highlighted is that the independent macroeconomic forecasts can sometimes be in conflict with what is considered the official forecast. Do those...