Results 16,921-16,940 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: Can I ask the question?

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: I believe it is a clever answer. That is a judgment call by all of us. The entire sentence, which refers to how deposits "declined rapidly" from the peak in 2008 to a low figure of £191 million in 2012, gives us a certain impression. We have information that the post-bailout peak was in 2010, which suggests that what Mr. Byrne is stating to this committee is not true. Irish taxpayers...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: He wrote quite an important one on this matter. It refers to a document that was produced in 2011, in which "the offshore bank said it remained 'a key provider of funding for AIB' with deposit balances peaking at £2.8 billion in June 2010", which is substantially higher than the figure claimed by Mr. Byrne. The article goes on to note that "by April 2011, deposits had fallen to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: I have a final question. When the chief executive of AIB wrote to the Isle of Man subsidiary in 2013 to tell it about the planned Revenue investigation, he suggested that customers should make a qualified disclosure. Does Mr. Byrne accept that this happened?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: Okay. Why would he suggest that customers should make a qualified disclosure? Why would such a disclosure have to be made?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: Why would he believe that customers would need to make qualified disclosures?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: The point is that one only makes a qualified disclosure if one has avoided paying tax.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: We do not have the evidence because AIB's subsidiary never provided the data to the Revenue Commissioners. We are only guessing here.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: The chairman of the Revenue Commissioners also told us that Revenue never received the data from AIB's subsidiary in the Isle of Man and that it has written to that subsidiary outlining the comments made by AIB plc through the Minister in the Dáil in response to questions from me that AIB is open to facilitating this type of information being provided. Is that still the position?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: I have a question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: Yes. There are two streams to my question. Mr. Byrne said that the data held in the Isle of Man is beyond the scope of the Revenue Commissioners. Is it also beyond the scope of the Criminal Assets Bureau, CAB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: The leaked files in the Paradise Papers suggest that the CAB has requested from AIB documentation linking Deputy Michael Lowry and Denis O'Brien. Those documents would be in the Isle of Man subsidiary. I am not asking Mr. Byrne about specific incidents-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: I am putting this in the context of what we are discussing here, which is the leaked Paradise Papers. I am asking about policy in respect of access to information. Mr. Byrne has made it clear that the Revenue Commissioners does not have reach into the data held by AIB in the Isle of Man. Does the CAB have reach into that data or is it governed by the same principles that do not allow the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: It would not necessarily have to request that information from AIB. I assume that if any request, for whatever reason, came in the past or might come in the future, AIB would provide every assistance.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: Did AIB seek to pass a resolution in a foreign jurisdiction to require its foreign registered subsidiary to provide information on its account holders who hold an address in this State to the Revenue Commissioners?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: There was never a resolution by AIB to force the subsidiary to provide information. That did not take place in AIB.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: No, I was listening. I was getting documents.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: I am not sure if it is AIB. This is what the Minister informed me when I asked him questions about court orders. He spoke about the 40 occasions on which information had been requested and provided for the Revenue Commissioners on foot of High Court orders. The reply stated:In one case, following a process of engagement with Revenue, an Irish financial institution sought to pass a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)

Pearse Doherty: The reply continued:The directors of the subsidiary concerned challenged the matter and the court in that jurisdiction held that it would be against public policy for the court to exercise its discretion to compel the directors of that foreign registered subsidiary to disclose the information.