Results 13,641-13,660 of 33,280 for speaker:Paschal Donohoe

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

Paschal Donohoe: No.

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

Paschal Donohoe: Last year, I brought in an equivalent of this for very small companies, which I am informed is called the SEI and which is now in place. I can give the Deputy a note about its operation in advance of Report Stage. It has only been in place for one year.

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

Paschal Donohoe: It is 40%.

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

Paschal Donohoe: I was aware of it. When we were making decisions in regard to the EII scheme, further changes were needed. The issue the Deputy is referring to was brought up in the public consultation, but my view is that, given we had introduced the SEI scheme last year, I want to see how that is going to work before I decide if further change is merited for the EII scheme.

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

Paschal Donohoe: There have been improvements. I am not receiving the same level of complaint in regard to the operation of the scheme that I was receiving before the changes in last year's Finance Bill. It has improved. There is still a gap, however, in terms of explaining to companies the effect of the changes we brought in last year. We still have work to do to explain what those changes are and...

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

Paschal Donohoe: It will happen through the work we are doing in the appointment of a just transition commissioner whose first priority will be the communities to which the Deputy is referring. It will happen through the local structures being put in place. It will happen through the local authorities and local communities. It will happen as a result of the fact that we have funding that will be used to...

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

Paschal Donohoe: We had an exchange earlier about the living city initiative and a discussion about the relative lack of a drawdown under it. The living city initiative is a micro and deeply targeted scheme at neighbourhoods in a small number of cities. While I completely understand why the Deputy might see it as being analogous to what he is looking for, there is no comparison with the level of scale. We...

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

Paschal Donohoe: Far be it from me to speak up on this matter, but is amendment No. 32 not in the name of Deputy Paul Murphy?

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

Paschal Donohoe: I move amendment No. 34: In page 35, line 9, after “activities” to insert the following: “or who would be chargeable to corporation tax in respect of the profits or gains arising from the relevant activities but for section 129”. Section 26 substitutes the existing transfer pricing legislation to update and modernise the rules in line with the Coffey review...

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

Paschal Donohoe: I move amendment No. 35: In page 43, line 25, to delete “a supplier” and substitute “an acquirer”.

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

Paschal Donohoe: I move amendment No. 36: In page 44, between lines 13 and 14, to insert the following: “(v) section 633A,”.

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

Paschal Donohoe: I move amendment No. 37: In page 44, line 14, to delete “(v) section” and substitute “(vi) section”.

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

Paschal Donohoe: I move amendment No. 38: In page 44, line 15, to delete “(vi) paragraph” and substitute “(vii) paragraph”.

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...