Results 17,361-17,380 of 35,756 for speaker:Pearse Doherty
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: We are talking about approximately €20 million which will have to be recouped from the individuals.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Where illegal state aid is paid to a company - the Apple case is in the public domain - there is a requirement for the State to recoup that state aid. Does that not apply to this case?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Is the Department saying that it will appeal the case if the Commission-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Were the Commission takes the view that illegal state aid has been paid out to an individual, which favours one company over another and is anti-competitive, and the State is of the same view, is there not a requirement, without an investigation, to recoup those moneys?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: When are we likely to have a decision as to whether the State will have to recoup this potential €20 million from 300 individuals?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Not to point fingers, but if it was the case that connected parties could benefit from this, how was it overlooked? Was there a dispute in terms of the interpretation or was it just a genuine mistake which lead to connected parties being able to avail of this state aid?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: How was it brought to the Minister of State's attention? The Department flagged it with the Commission. How was it flagged?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: When did Revenue contact the Department of Finance about this?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Thank you.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: In the last 12 months there have been no major changes to the fact that land is not being released. I say that because it is important to get to the core of this. This was the major argument in the Finance Bill last year. The Minister of State should look over the transcripts. We kept going back over this on Committee and Report Stages. We argued with the Government at the time that the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: I think the Minister of State voted for exemption and I voted against it.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Will the Minister of State send that to the committee?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: I know the Minister of State would like us to sweep last year under the carpet, pretend it did not happen, and pretend the Government did not incentivise the type of land hoarding which happened over the last year. However, let us deal with the amendment that is before us. Can the Minister of State explain to us the significance of the disposal date, which is 1 January 2019, and also how...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Does the Minister of State know what that means? The provision will kick in on 1 January 2019.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: That means that for investors who bought lands or properties prior to 1 January 2014, in the calendar year before that, the Government continues to incentivise them to hold on to those properties for another year. That is what is being done, as explained by the Minister of State.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: Let us deal with the practicalities. The Minister of State can correct me if I am wrong. His assistance will help the committee to understand the provision. The CGT dividend withholding tax exemption-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: -----applies if one holds the property for five years.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: One has to own the property for five years or one will not get the exemption. This is why the provision is incentivising people to hoard instead of sell. If an owner holds the property for four years then it is better to hold on to it for another 12 months in order to be exempt from the dividend withholding tax when one disposes of the property. If one bought the property in 2014 then one...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Pearse Doherty: If an investor bought parcels of the land that NAMA disposed of in 2013, then five years will not have elapsed.