Results 16,901-16,920 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: AIB plc has no reach on them - no control, no nothing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Who decided to wind them up or who made that decision, was it AIB plc?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Why does AIB plc not do that and take the data in and provide the data to the Revenue?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: It is reported again in the media - we are having to rely a good deal on what has been said in the media - that in 2006 Mr. Ray O'Connor, the head of group taxation with AIB, I presume that is AIB plc. Sometimes it is very hard to follow the structures of AIB, if one misses a comma here or there, one is talking about a completely different company, which is something we may pick up on a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Formerly in 2006. It appears from what we have seen in the media that he was basically warning AIB Isle of Man not to have its data centralised because it would come under the reach of the Revenue. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Mr. Byrne read Colm Keena's article and this is one of the claims within it. I will read it to refresh Mr. Byrne's memory. It states:In 2006, AIB was introducing a centralised transaction processing and data storage capability in the Republic. In February of that year, Ray O'Connor, the head of group taxation with AIB in Dublin, wrote to Howland in the IOM suggesting that they get legal...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: We can all take different interpretations. Obviously, this did not come under the centralised system. If that had happened, however, perhaps Revenue would not have had to go through this process and possibly we would not have had to wait for these leaks for whatever version of AIB we are talking about to provide this data. Is it not the case that if this warning had not been issued, and it...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Okay. On that issue, does Mr. Byrne acknowledge that the subsidiary had legacy customers? The previous Deputy mentioned that in 1998, AIB Isle of Man started accepting only those residents of Ireland who could avail of legitimate tax planning opportunities. A note drafted for a board meeting of AIB Isle of Man in 2004 broke the business into legacy customers from before 1998 and post-1998...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Okay. Mr. Byrne has said that the offshore entity was not targeting Irish residents.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: As Mr. Byrne knows, the offshore entity continued to have legacy customers. We must assume that those customers were Irish residents.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: It is not gone. Mr. Byrne has told us that it has lost its banking licence, but it still exists.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: I know.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: We are looking at the past. Did it still have legacy customers in 2012? I appreciate that Mr. Byrne was not the CEO of the bank at that time. Did it still have Irish residents as legacy customers in 2012? It is claimed that after the bailout in which we pumped billions of euro into AIB, an offshore entity of that bank continued to have the deposits of customers who were Irish residents in...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Hang on now. AIB closed down the business not because it was facilitating legacy customers in tax avoidance but as part of the restructuring of the bank after it went bankrupt. As CEO of-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: I ask Mr. Byrne to listen for a second. A minute of a board meeting talks about-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: I established at the very start, to be fair to Mr. Byrne and other AIB staff and board members, that Mr. Byrne was not involved at the time in question. It is important to say that again. Mr. Byrne has a responsibility to answer on behalf of AIB past and present. I have time for Mr. David Duffy, who drew a handsome salary from the State for many years, but he is refusing to come here to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Okay. Earlier in this meeting, Mr. Byrne said in response to two other members of the joint committee that he does not know when the deposit levels in the bank peaked. He does know that they peaked in 2008. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: Was that the peak?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
Pearse Doherty: The reason I ask is that Mr. Byrne told us in his opening statement that it was the peak. He said that "AIB's offshore deposits declined rapidly during the bailout era, from a peak of almost sterling £2.5 billion in 2008 to sterling £191 million in 2012".