Results 14,061-14,080 of 32,569 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: As our negotiations with the Netherlands were so well advanced before the OECD's work was concluded, it was felt it would be more prompt to conclude the agreement by way of ratifying the OECD changes in the agreement, whereas the work with the Swiss authorities took place at a later stage. Therefore, we believe the best way to progress it is via a protocol.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The answer to the Deputy's first question is "Yes". On the DTA with Germany, it requested that we conclude our negotiations with it bilaterally and then make the changes in a manner similar to that employed in the Dutch model. We will include the changes in the treaty rather than via a multilateral convention.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The only other change that should be highlighted is that the new double tax agreement now encompasses modern OECD provisions, as well as reflecting Irish or Dutch measures that were agreed to bilaterally. The new double tax agreement is fully compliant with the minimum standards under the OECD base erosion project, as well as incorporating a number of other measures recommended under the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: I thank the Deputy, who will appreciate why I will not comment on the affairs of any particular taxpayer or commentary about them. The Deputy asked if the ratification of this treaty would change tax laws for copyright or any earnings from music. I do not believe they will although I do not have information in front of me about how the Netherlands taxes copyright or income from music. ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: I do not believe that the use of double taxation agreements in the past was a key reason the behaviour that the Deputy refers to happened. This agreement is important with regard to how we will deal with this kind of issue in the future. I draw the Deputy's attention to a number of elements of the agreement that I believe will be important in how we deal with this issue in the future. The...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: Regarding whether there are issues in other treaties, there are better standards that all treaties need to implement and if we do not do it bilaterally, where we involve both countries, such as with Germany, the ratification of the multilateral instrument will bring everybody into line. I do not believe these treaties were the cause of the problem in the past. I believe the bigger issue was...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: As I said in answer to an earlier question, I will not comment on the tax affairs of a particular company or individual. We will update the double taxation agreement, DTA, between Ireland and Luxembourg via the multilateral convention.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: No, I do not. I have had engagement with the Dutch finance Minister and I have heard him speak about these issues. Like me, he is a finance Minister in a small open economy and he is very familiar with the need for domestic tax law and corporate tax policy to meet new and different standards. Along with Ireland, he is involved in the work of the OECD in this regard.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It is not a description of Switzerland that I would share or use. The other feature that all the economies to which the Deputy refers have is that they are small. I do not believe that competitiveness in the use of tax policy is only the prerogative of large countries but, I as I have argued in this committee in the past, I accept that big and small economies alike need to adjust policies...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The Deputy may be about to take me on a tour of the world. The Commissioner, Mr. Moscovici, would say that no country in the European Union meets the global criteria for a tax haven.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: In the case of Switzerland, neither side has identified the need to renegotiate the double taxation agreement. The existing treaty with Switzerland is one of Ireland's oldest but the protocol to it, signed in 2012, implemented key provisions in respect of OECD standards. Furthermore, it made important amendments to reflect changes in our respective laws. Given the fact that the treaty was...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: The work currently under way branches out into three different areas. The next significant bilateral change will be the work we are doing with Germany. The vast majority, if not all, of the other work will be made via the multilateral convention, rather than treaty by treaty. As regards new treaties with other countries, our focus will be on Latin America, Africa and the Far East.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It was 2014.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: That would be done through the multilateral convention as opposed to a further bilateral treaty.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: This is a change that has been developed through the Organisation for Economic Co-operation and Development, OECD, work. I feel this change is needed and will be a big improvement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It will come in when ratified through the multilateral convention. It is not there at the moment but will take place through the broad OECD change.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: It will be in effect for us from November.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: November of this year.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Relief Orders 2019, Swiss Confederation and Kingdom of the Netherlands (2 Jul 2019)

Paschal Donohoe: That is correct, but the benefit of the OECD work is that an equivalent of that has to be implemented in any other jurisdiction participating in the work. While we may have strong recognition of this in our existing tax law, the benefit of the OECD approach is that it encourages everybody else to do the same.