Results 12,941-12,960 of 32,610 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: We need more details from the Deputy on this because our understanding of this issue appears to differ substantially from his. The charity to which he refers will be treated in the same way as the Coast Guard. VAT is charged on services that are purchased. That is what happens with the Coast Guard and that is what will happen with this charity. We need to get more information from the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: That is possible. We will have to discuss the matter further with the Deputy who could be correct. That is the truth of the matter. The consequence of what he is looking for could be that the charity might be treated differently from others registered in Ireland. From a VAT law perspective, the truth is we cannot do that. I do not want to engage in false pretences, but the consequence 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. 23: In page 23, to delete lines 17 to 19 and substitute the following: “(b) in section 172A(1)(a)— (i) in the definition of “dividend withholding tax”, by substituting “a rate of 25 per cent” for “the standard rate in force at the time the relevant distribution is made”, (ii) by substituting the following...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Some of the Deputy's points are better suited to the discussion on section 28, which begins to deal with the taxation of REITs, IREFs and so on and which will take place later tonight or tomorrow. In regard to the dividend withholding tax, the anchor of 25% is to try to make it equivalent to where we would be from the point of view of income tax, where there is a 20% rate and a USC rate of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: It is important to put into context the scale of these REITs and the effects they are having on markets. I am using information that is available from the Central Statistics Office. Its figures indicate there are approximately 126,000 apartments in Dublin and 210,000 apartments nationally. Residential properties owned by REITs account for 2.38% of the total Dublin apartment stock and 1.4%...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: Let me finish. In relation to chasing things, most of the key measures I introduced were implemented on budget night via resolutions. I decided that the appropriate way of dealing with this matter was to do so immediately. Many of the measures that we may discuss later were implemented on the night of the budget. I accept the Deputy's point that when addressing issues such as this, one...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: We can discuss this further when we debate the appropriate level of capital gains tax to be applied. I repeat the point I made regarding the number of measures I brought in on budget night to ensure they were immediately implemented. I take the Deputy's point that we should look at the share of what has been purchased. In parallel to looking at that, it is also the case that by forward...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: No. I am not looking to make any further changes in capital gains tax beyond what I have already indicated in the Finance Bill.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: We can debate why that is so later on in the Finance Bill but that is the case.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I am not blind to the issues the Deputy is raising. That is why I instigated a number of pieces of work that have guided me to make significant changes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: The Deputy acknowledges that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I am aware of what the risks of scale are and that is why I have worked to try to measure what the scale of these REITs and IREFs are now that they have been in place for a while. I have given the Deputy some figures here, he has made a fair pushback on those and I will have a further look at that. However, we did a piece of work to look at the scale of these entities. I am also aware of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: On the first question, yes that is for next year's Finance Bill. On the second question, it is possible that it could be a rate of zero but this is one of the things we will have to tease through.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: How long does the Chairman intend the committee will sit for?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I am available for as long as the committee wants but if we go to 10 p.m. or beyond, can we have a five or ten minute break?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I am happy to go to 10 p.m. or beyond if the committee wants, but if we are to go on for much longer, I would like to have a ten minute break now.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I move amendment No. 25: In page 24, line 36, after “amount” to insert “or pursuant to section 766C(4)”. I propose to take amendments Nos. 25 to 28, inclusive, together. Section 24 of the Finance Bill 2019 provides for several new measures to encourage micro or small-sized companies to undertake research and development activities and avail of the research and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: It will be four to six months.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I move amendment No. 26: In page 25, line 5, after "amount" to insert "or an amount pursuant to section 766C(4)".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)

Paschal Donohoe: I move amendment No. 27: In page 25, line 6, to delete "or section 766A(4B)" and substitute ", section 766A(4B) or pursuant to section 766C(4)".