Results 1,821-1,840 of 6,295 for speaker:Michael D'Arcy
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: It is premature to speculate whether the Commission will take a case. We have pointed out the error, we are rectifying it and it is a matter for the Commission to decide what it will do.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: It depends on the case. There is precedent for similar things happening within the EU where the Commission chose not to go down the route of investigating and recouping the state aid.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: The starting point was to rectify the legislation. We are doing that now, as quickly as possible, and there will be a conversation with the Commission subsequently. I cannot provide a fixed date just yet.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: It was a legitimate oversight.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: It became obvious to Revenue that there was an issue. The Revenue Commissioners contacted the Department of Finance. The matter has been rectified, and the Revenue Commissioners were informed immediately.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: Contact was made within the last month.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: The scheme will continue as is, with this alteration. A review was to be conducted anyway, so it is quite timely.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: I move amendment No. 19:In page 23, between lines 15 and 16, to insert the following:“(II) by deleting paragraph (a) of the definition of “IREF excluded profits”,”. These amendments relate to the taxation of profits arising on the disposal of Irish land that has been held by an Irish real estate fund for more than five years. This proposal will remove that...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: All I can do is deal with what is in front of me on this occasion. With the movements in capital gains tax and stamp duty, and the attempts to ensure that more land is made available for development for building, circumstances change. Circumstances arise depending on what has happened in the previous 12 months. We are not satisfied with the quantity of land that has been made available or...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: I would remind the Deputy that I was on the same side as the Deputy this time last year. I do not propose-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: I do not propose to debate last year's budget proposals this year. What is in front of us, we believe, is the right thing to do to encourage as much property onto the market as we can in the coming year. I do not know that many people would disagree with that position. As the Deputy said, that was last year. The committee can vote for or against it. The matter was not successful last...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: This measure was introduced in the Finance Act 2016. It would be very sudden to remove the measure just one year after its implementation. Doing so would negatively affect Ireland's international messaging on the certainty of our tax system, which is crucially important to investment. Signalling the change one year in advance will help to address any negative effect this change might have...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: Correct.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: No. We have said, rather than bringing down an immediate shutter on the provision-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: -----after only putting it in place a year ago, we think it would be unfair on somebody who made an investment prior to that. We think the provision gives people an opportunity to advance this without the withholding tax applying for the next 12-month period. Taxes, companies, investment and individuals require certainty. We think that putting the provision in place in one budget and...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: That is correct, yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (Resumed) (8 Nov 2017)
Michael D'Arcy: Yes.