Results 12,921-12,940 of 32,547 for speaker:Paschal Donohoe
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 39: In page 44, line 33, to delete “subparagraphs (i) to (v)” and substitute “subparagraphs (i) to (vi)”.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: This amendment refers to the model of financial transactions tax proposed by the European Commission, initially in 2011 and then revised under the EU’s enhanced co-operation procedure in February 2013. The proposed rate on exchanges of shares was 0.1% and the proposed rate for derivative transactions was 0.01%. Since it was first mooted, Ireland has had concerns about the financial...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I am always interested in new ways of finding revenue in order to fund better public services. The clearest proof I can offer of the difficulty of making this happen is that a group of other EU countries have been involved in enhanced co-operation on this proposal for over six and a half years and it still has not happened. Included within that enhanced co-operation procedure are countries...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 42: In page 48, to delete lines 27 to 40, and in page 49, to delete lines 1 to 5 and substitute the following: “(2) In this section— (a) subject to paragraph (b), ‘net proceeds’, in relation to the disposal of the property of the property rental business, means the full proceeds from such disposal as reduced by any amount used to repay,...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: That is fine. Section 28 provides for a number of amendments to the tax regime for Real Estate Investment Trusts, or REITs, to ensure that the correct tax is paid in relation to the disposal of property by a REIT and to encourage long-term, stable investment in rental property. One of these measures provides that where a REIT disposes of a property, it must either reinvest the proceeds in...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I ask that we go into private session so I can give the Deputy the accurate answer and not be a proxy for it. If the Deputy has other questions on that, perhaps he would group them because there might be some that would be appropriate for me to answer and some for the officials to answer.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I believe this section is justified and necessary. It is proportionate and is related to the fact that my predecessor and I always stated that the reliefs made available to the REIT sector were made available on the expectation of its long-term operation. The changes I have made here are driven by that broad policy consideration and my intention to follow that through to the end. That is...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 43: In page 50, between lines 10 and 11, to insert the following: “(b) by inserting the following section after section 739K: “Associated enterprises 739KA.(1)In this section and section 739LC— ‘connected’ has the same meaning as in section 10, subject to the modification that references in section 10 to...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I expect that the element of the gain of €80 million which will be recurring will come from these measures.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I do not have such an estimate because of the need to make a judgment on the degree to which this behaviour was widespread. I am indicating that these measures will bring in a recurring contribution of €80 million.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: The Revenue had enough powers but it is the case that since we instigated the reviews to which I referred in the debate last year it has become apparent that these changes are needed.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 44: In page 52, to delete line 17 and substitute the following: “off. Exclusion for third-party debt 739LC.(1) Where— (a) an amount of income is treated as arising to an IREF under section 739LA or 739LAA, and (b) some or all of that amount relates to a third-party debt, the amount of income on which the IREF is charged to income tax shall be...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 45: In page 52, between lines 17 and 18, to insert the following: “(e) by inserting the following section after section 739LA (inserted byparagraph (d)): “Profit: financing cost ratio from 1 January 2020 739LAA.(1) In this section— ‘adjusted property financing costs’ means the property financing costs less any amount of...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 46: In page 52, line 20, after “ “person”,” to insert “and”.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 47: In page 52, line 21, to delete “and”.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 48: In page 52, to delete lines 22 to 36.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 49: In page 53, line 23, after “Paragraph (a)(i),” to insert “paragraph (b),”.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 50: In page 60, line 28, to delete “subsection (1)” and substitute “subsection (2)”. I am bringing forward several amendments to section 30 which introduces new ATAD-compliant anti-hybrid rules to Irish legislation. The majority of the amendments which I am proposing to the section correct drafting, cross-reference and typographical errors...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 51: In page 60, line 31, to delete “subsection (1)” and substitute “subsection (2)”.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Paschal Donohoe: I move amendment No. 52: In page 61, line 2, to delete “subsection (1)” and substitute “subsection (2)”.