Results 121-140 of 34,444 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Of course. This section amends section 891H of the Taxes Consolidation Act 1997, which was introduced in the Finance Act 2015 and provides for country-by-country reporting. Section 891H gives effect to the OECD base erosion and profit shifting, BEPS, project recommendations for country-by-country reporting and Council Directive EU 2016/881 of 25 May 2016, which brought the OECD BEPS...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Overall, in terms of the increase in the value of the scheme, at the moment, as the Deputy knows, it has a lifetime limit of €1 million with regard to the disposal or disposals of chargeable business assets made by a relevant individual on or after 1 January 2016. The Bill will amend the existing lifetime limit of €1 million, increasing it to €1.5 million for gains...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The Indecon report, at that point, recommended that we increase the lifetime limit to €12 million. I think it was recognising that the overall limit in place of €1 million might not be of sufficient scale to incentivise investment in entrepreneurial activity. It believed we should be making a very, very significant increase of it all the way up to €12 million. That is...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I hope the impact will be that those numbers of people who were involved in the set-up of businesses might either decide to be involved in the creation of new ventures in the future as a result of this change or might decide that they will further grow the venture they are involved in over the time ahead because the gain they will get out of the disposal of a share in that business is now...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I move amendment No. 62: In page 83, between lines 29 and 30, to insert the following: "Amendment of Chapter 1 of Part 2 of Finance Act 1999 (Mineral Oil Tax) 51. (1) Chapter 1 of Part 2 of the Finance Act 1999 is amended— (a) in section 94(1), by the insertion of the following definitions: " ‘appropriate procedure’ means— (a) in relation to biofuel for...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: The restrictions of carbon tax reliefs are anticipated to have a very minimal effect. This is for two reasons. All the big energy producers are in the ETS1 sector and the relief is not being restricted for them. Also, renewable energy used to generate electricity is exempt from carbon tax and electricity tax. Additionally the provision will not be commenced until 2027 at the very...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: We think it could be close to zero.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Close to zero or a few euro.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I am sorry. I just need a moment. I need to get my new folder. Would the Deputy mind repeating the question?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: As I understand the Deputy's question, it goes back to the answer I gave her a moment ago. All of this relates to the interplay between our carbon tax regime and emissions trading system 2, ETS2. The majority of our energy for domestic purposes is generated from the ETS1 sector. With regard to household energy consumption, these changes will have minimal effect. Again, we are talking...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: This section provides for excise duty increases on tobacco products with effect from 8 October 2025. The increase amounts to a 50 cent inclusive increase on a pack of 20 cigarettes in the most popular price category together with pro rata increases for other tobacco products. Assuming full pass-through to the retail price point, the price of a pack of 20 cigarettes in the most popular price...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: It has gone up in every year I can remember. It has certainly gone up in every budget in which I have been involved, in one way or another, since 2016. Of course, it is always difficult to disentangle the impact of price and the impacts of changes in behaviour and attitudes to health. However, the advice I continue to receive from the Department of Health is that changes with regard to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: It will probably be provided to me in a moment. I know Revenue regularly does such analysis and it has pointed to growing evidence as regards what is unfortunately quite a significant illegal sourcing of tobacco, including cigarettes. The most recent survey I have access to today, which was conducted in 2024, found that the level of illegal cigarettes had increased from 19% to 26% between...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: In my Second Stage speech, I outlined that the central driver for Ireland's tobacco tax is our public health ambition to reduce smoking prevalence, and the Deputy and I have just had an exchange with regard to that. In this regard, as part of its work in tackling illicit trade, Revenue has identified the increased abuse of a particular excise duty relief that is available for private...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: Amendment No. 64 from Deputy O’Callaghan seeks a report on the possible impacts of increasing the rate of betting duty. In any discussion around betting duty, it is important to acknowledge the potential harm to society from problem gambling and the need for a robust framework of regulation in this sector. In this regard, I welcome the establishment of the Gambling Regulatory...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: It is something we looked at in the past. I remember this discussion because I took up the betting duty the last time, in 2019. I remember lots of discussion around it, although that being said, there was also much support in the Oireachtas for doing it. We are not sure that we are that far out of sync with everybody else. For example, the UK's charge or tax is applied with regard to...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: This section amends section 6(1)(a) of the Value-Added Tax Consolidation Act, which sets out the obligation for farmers, as defined for VAT purposes, who supply certain agricultural goods and services, to register and account for VAT. Following the proposed amendment, these farmers will be assessed for VAT in line with the recent amendments introduced for other taxable persons as part of the...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: They only have to register if they are above the VAT threshold.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: I accept that there will be consequences of the change that has been made here, but this is on foot of a very long-running issue with regard to the implementation of the flat-rate VAT system within the farming sector overall, but very specifically within the poultry sector. I am sure the Deputy is aware of the background of it, but just to give a very brief synopsis about it, an allegation...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (Resumed) (6 Nov 2025)

Paschal Donohoe: In relation to the figure of €30,000, I am not familiar with where that comes from. I am happy to look at any documentation. I accept there will be an impact as a result of this change. On the point regarding the nature of the amendment, in effect, it will bring that part of farming within the normal operation of our VAT code. Under section 86A of the 2010 Act, the Minister for...