Results 17,061-17,080 of 32,602 for speaker:Paschal Donohoe

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: The introduction of the exit tax regime is an important development in ensuring that our corporate tax policy continues to meet the evolving international standards in respect of corporation tax policy. I explained on Committee Stage that the reason I was making this change at 12.5% was to bring it into line with the main trading rate of corporate tax. I also made the point that, though...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: I thank Deputy Boyd Barrett for raising this issue and Deputy Fitzmaurice for contributing to it. We discussed it extensively on Committee Stage. At that time, I outlined to Deputy Boyd Barrett the work that was done when my Department and that of the Minister for Employment Affairs and Social Protection, Deputy Regina Doherty, published a report on intermediary-type structures,...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: There are two reasons why I am not in a position to accept this amendment. The first is the amount of work I and my Department have already done to try to meet the need to which this amendment refers. Officials from my Department and the Revenue Commissioners have appeared before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach. On foot of those appearances we...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: I move amendment No. 28:In page 145, between lines 32 and 33, to insert the following:“Amendment of section 44 of Forestry Act 1988 62.Section 44 of the Forestry Act 1988 is amended, in subsection (11) (amended by section 67(e) of the Ministers and Secretaries (Amendment) Act 2011), by substituting “paid by the Minister for Finance” for “paid by the Minister for...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: On Committee Stage I covered the rationale and why I am making the change. The question I am posing to Deputies McGrath and Doherty is a simple one. Do we think this is worth €20 million per year of taxpayers' resources? To my mind, the answer to that question is no. This measure has been in place since 1993. It has been there so long that it appears many were not even aware of...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: Three points have been put to me for a response. Deputy Michael McGrath asked me what I have said I will do. First, I will evaluate the proposal that has been put to my Department in respect of a gross profit tax model. This proposal was shared with me very recently. I will make the point that when we engaged with the sector on this model the last time, there was not complete support for...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: As I have said, I am happy to engage with the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach on the proposal next year. In answer to the Deputy's question regarding when we can do it, I want to engage robustly on the proposal that has been put forward by the industry. We have only recently received a proposal of this breadth. I would be happy to report back to and...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: I outlined the rationale as to why I am making this move on Committee Stage. I thank Deputies Fitzpatrick, O'Keeffe, Aindrias Moynihan, Troy and Butler for the points they have brought in at this point. There a couple of points I would make. Every decision that I make, particularly in taxation, has consequences, and I have no doubt at all that if I had followed any of the other...

Ceisteanna Eile - Other Questions: Government Expenditure (22 Nov 2018)

Paschal Donohoe: I will answer the last question first. It will have an effect on our net debt because it is an asset that we have and it is funding that is held by the State. Financial markets look at the solvency of the State and that fact will reduce our net indebtedness position. Our national debt will be bond-financed more and more and, at a point in the future, will be exclusively bond-financed....

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: I have already dealt with the background to this in a debate with Deputy Catherine Murphy, so I will not repeat what I said to her. I will answer Deputy Wallace's direct question clearly, however. It is my strong view, and a requirement under law, that the relevant oversight body for this matter is the Comptroller and Auditor General. NAMA is in communication with him and his office and...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: I reiterate that it is now accepted that politicians should not be involved in inquiries into organisations as vast and significant as NAMA nor should we be involved in their day-to-day operations because of the pressure we could come under. If the Deputy is willing to accept that, he should be willing to accept that the Office of the Comptroller and Auditor General is the right body to do...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: If I did, I would be getting involved in work the Comptroller and Auditor General is doing and undermining any conclusion he may reach on how this matter was dealt with. The Deputy has named individuals and has given his view on them but I have to ensure due process is followed. This is work that is under way in the Office of the Comptroller and Auditor General and it would be utterly...

Ceisteanna Eile - Other Questions: Tax Code (22 Nov 2018)

Paschal Donohoe: There continue to be a number of other member states who have consistently expressed opposition to the introduction of the digital services tax. Their opposition was reiterated the last time this issue was discussed, which was at the October ECOFIN meeting, and they were very clear in expressing their concern on the matter. This is a change from where we have been over the past year when...

Ceisteanna Eile - Other Questions: Tracker Mortgage Examination (22 Nov 2018)

Paschal Donohoe: My most recent figures indicate some 93% of verified affected customers have received offers of redress and compensation. I want to see the matter concluded quickly. The fact that some 93% of customers, that is, our citizens, have been offered redress and compensation is of little solace to me or them, given how long all of this has gone on. It is unacceptable that it happened in the first...

Ceisteanna Eile - Other Questions: Tracker Mortgage Examination (22 Nov 2018)

Paschal Donohoe: On Deputy Pearse Doherty's point, I repeat what I said from the start. The Central Bank indicated that if the individual's information is shared with it, it will examine the information. On his request to raise the matter with the Central Bank, I will do so and I am determined to ensure this further breach of trust is dealt with in the most robust way possible. On Deputy Michael...

Ceisteanna Eile - Other Questions: Government Expenditure (22 Nov 2018)

Paschal Donohoe: The recently published annual report on public debt in Ireland outlines that the interest burden of public debt is perhaps best assessed by examining the interest-to-revenue ratio, which demonstrates the percentage of total Government revenue dedicated to interest expenditure. The ratio has been on a downward trend since 2013 but remains high by EU standards. As of 2017, debt interest...

Ceisteanna Eile - Other Questions: Film Industry Tax Reliefs (22 Nov 2018)

Paschal Donohoe: On the second point, the certification process is new and will take effect and will be implemented once the Finance Bill is passed. It may be a matter on which we can engage in the first half of next year once we see how it is implemented and whether it is making a difference to the issues which are being raised. Last night, the Deputy asked what was my view of the breach of employment...

Ceisteanna Eile - Other Questions: Film Industry Tax Reliefs (22 Nov 2018)

Paschal Donohoe: I stated that I was aware that incidents take place in workplaces that should not take place but that these developments can sometimes occur if a workplace is big enough. Nevertheless, my view is that if issues of this nature are sustained, frequent and specific to a project that is availing of a credit, it raises issues with me as to how that credit is being used. I hope the changes we are...

Ceisteanna Eile - Other Questions: Tracker Mortgage Examination (22 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 9 and 15 together. Appeals form an important part of the overall tracker mortgage examination process as they ensure an independent and transparent consideration of complaints from customers about any aspect of the redress and compensation they have been offered. The Central Bank advises that, as part of the framework for conducting the tracker...

Ceisteanna Eile - Other Questions: Tracker Mortgage Examination (22 Nov 2018)

Paschal Donohoe: I do not know how Deputy Doherty can credibly put forward the allegation that I am looking to move beyond this when I have been crystal clear at all points that I believe the behaviour that caused this issue and the way in which it was dealt with recently were unacceptable. I have been very firm and clear in my support of the Central Bank and the work it is doing. Some €580 million...