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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Michael McGrath: ...years old. It allows these investors to avail of a reduced rate of CGT on a sale to a third party. The investment made must be for a minimum amount of €20,000, or €10,000 where at least a 5% shareholding is acquired, and the shares acquired must be held for a minimum of three years. The reduced CGT rate of 16% is available on a gain of value equivalent to twice the value...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I move amendment No. 25: In page 80, between lines 4 and 5, to insert the following: "Report on the application of stamp duty on the buy-back of shares 49.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the application of stamp duty on all purchases by companies of their own shares, and requiring companies to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: ...operator is different from a retailer who will operate the scheme. An operator will provide services at different retail outlets, I assume. Correct me if I have misunderstood this. Let us say €5 million in deposits was paid for aluminium cans or plastic drink containers and €4 million of that was returned, so the operator has €1 million. Therefore, VAT would apply...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: ...EU jurisdictions. I think that is a gap in terms of the information that should be there around the banking levy. I invite the Minister to comment on this matter. He has said that €200 million is not an insignificant number and I agree with him. I contend that €150 million was not either but that amount was being applied to the banks when their profitability was less than...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Michael McGrath: I move amendment No. 45: In page 126, between lines 30 and 31, to insert the following: “ ‘the Acts’ means the Tax Acts and the Capital Gains Tax Acts;”. Section 90 of the Bill relates to the transposition of pillar 2. I propose to read a short note on the amendments and then read the note on the section as that places it in a context and we can have the...