Results 1-20 of 94 for nama speaker:Stephen Donnelly

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: ...moved or been securitised or restructured, it is no longer possible to estimate what level of tax yield we are getting from it. We need to know that the €40 billion or so asset base that was sold by NAMA, IBRC, HBOS, Deutsche Bank and so on and is yielding approximately €3.5 billion in profits per year is being properly and fully taxed in this country.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Stephen Donnelly: The figure of €20 billion refers to NAMA transactions, but when one includes transactions in IBRC, HBOS, Deutsche Bank, etc. one reaches a figure of €40 billion very quickly. Revenue states the yield figure I used was too high at 9%. The yield I used was taken from the filed accounts of vulture funds and was net of normal interest deductions, business costs, operating costs...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Stephen Donnelly: ..., even the €50 million figure shocked me as a placeholder or a lowball figure. The vulture funds control assets for which they paid about €40 billion. We have the detail on that. For example, NAMA by the end of this year will have sold about €30 billion. If IBRC, Deutsche Bank, RBS, HBOS, etc., are added on top of that, €40 billion is a conservative figure....

Finance Bill 2016: Second Stage (Resumed) (26 Oct 2016)

Stephen Donnelly: ...will go into more detail on each of these points, but, before I do, let us recall how little tax vulture funds pay in Ireland. In the past few years they have spent about €40 billion in buying loans from NAMA, IBRC and the private banks. Based on numerous filed accounts by vulture funds, they appear to be making annual profits in the region of €3 billion. Were the State...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2016: Vote 32 - Department of Jobs, Enterprise and Innovation (22 Sep 2016)

Stephen Donnelly: ...the vulture funds. I would like to formally raise it with the Minister. There are many legitimate Irish companies trading, registered and paying taxes in Ireland who would like to be able to bid for NAMA portfolios or other portfolios. They are bidding against foreign companies who are acting legally in this country but who are paying no tax due to the tax laws here. I wanted to raise...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Stephen Donnelly: ...third is that it only applies to property. I give the example of Cerberus, having gone through the 2014 accounts. While a great deal of attention has been paid to the €190 million difference of opinion between NAMA and the Comptroller and Auditor General, conservative calculations suggest that over the next ten years Cerberus will walk away on Project Eagle with approximately...

Committee on Budgetary Oversight: Revenue Raising Proposals: Minister for Finance and Revenue Commissioners (20 Sep 2016)

Stephen Donnelly: ...position. At this point Revenue should be able to give some sort of a scale. A very small number of companies are involved in this matter. About ten companies have bought practically all of the NAMA assets, these vulture funds and most of them have now released their accounts. As an example, Cerberus took in interest payments for 2014 - and we have their accounts - in the sum of...

Written Answers — Department of Finance: Departmental Correspondence (21 Jul 2016)

Stephen Donnelly: ...Finance the assurances given by him and or his Department, in writing, electronic or other, in person, or in any other way, to the bidders and purchasers of any distressed debt loan books sold by NAMA, IBRC, or any other entity on the establishment of section 110 companies to purchase and or manage the loans; and if he will make a statement on the matter. [23916/16]

Written Answers — Department of Finance: Departmental Correspondence (21 Jul 2016)

Stephen Donnelly: ...any entity or person involved in the liquidation of IBRC, in writing, electronic or other, in person, or in any other way, to the bidders and or purchasers of any distressed debt loan books sold by NAMA, IBRC, or any other entity, on the establishment of section 110 companies to purchase and or manage the loans; and if he will make a statement on the matter. [23918/16]

Written Answers — Department of Finance: Departmental Correspondence (21 Jul 2016)

Stephen Donnelly: ...the assurances given by any State agency or official, in writing, electronic or other, in person, or in any other way, to the bidders and or purchasers of any distressed debt loan books sold by NAMA, IBRC, or any other entity, on the establishment of section 110 companies to purchase and or manage the loans; and if he will make a statement on the matter. [23919/16]

Written Answers — Department of Finance: Departmental Correspondence (21 Jul 2016)

Stephen Donnelly: ...or his Department, and or any State agency or official, in writing, electronic or other, in person, or in any other way, to the bidders and or purchasers of any distressed debt loan books sold by NAMA, IBRC, or any other entity, on to the offshoring of profits by those companies; and if he will make a statement on the matter. [23920/16]

Written Answers — Department of Finance: Departmental Correspondence (21 Jul 2016)

Stephen Donnelly: 128. To ask the Minister for Finance the assurances given by NAMA, in writing, electronic or other, in person, or in any other way, to the bidders and or purchasers of any distressed debt loan books sold by NAMA, IBRC, or any other entity, on to the establishment of section 110 companies to purchase and or manage the loans; and if he will make a statement on the matter. [23917/16]

Written Answers — Department of Finance: Tax Code (21 Jul 2016)

Stephen Donnelly: 132. To ask the Minister for Finance the concerns raised, by any means, with him and or his Department by the Revenue Commissioners, NAMA, IBRC, the Central Bank or any other source, about the tax structures of any entities bidding for, or purchasing, loan books sold by NAMA, IBRC, or any other entity; and if he will make a statement on the matter. [23921/16]

Written Answers — Department of Finance: Tax Code (21 Jul 2016)

Stephen Donnelly: 133. To ask the Minister for Finance the concerns raised, by any means, with him and or his Department by the Revenue Commissioners, NAMA, IBRC, the Central Bank or any other source, about the potential for lost revenue to the State due to firms purchasing loans books being established as section 110 companies; and if he will make a statement on the matter. [23922/16]

Written Answers — Department of Finance: Tax Code (21 Jul 2016)

Stephen Donnelly: ...been conducted by his Department or any other agency of the State, about the potential lost revenue to the State due to the use of section 110 companies to purchase and or manage loan books sold by NAMA, IBRC or any other source; if he will provide that analysis; and if he will make a statement on the matter. [23927/16]

Written Answers — Department of Finance: Tax Code (21 Jul 2016)

Stephen Donnelly: 134. To ask the Minister for Finance his views about the bidding processes for loan books being sold by IBRC, NAMA or any other source, that any bidders were structured as section 110 companies; and if he will make a statement on the matter. [23923/16]

Written Answers — Department of Finance: Tax Code (21 Jul 2016)

Stephen Donnelly: 136. To ask the Minister for Finance the list of the purchasers of loan books from NAMA, IBRC, or any other source; to indicate which of these entities had section 110 status; the nature of the loan book, the sales value in each case, if available; and if he will make a statement on the matter. [23926/16]

Written Answers — Department of Finance: Lobbying Data (21 Jul 2016)

Stephen Donnelly: ...the Minister for Finance the contacts from legal firms, financial firms and any other sources about the establishment of section 110 companies for entities interested in purchasing loan books from NAMA, IBRC or any other source; and if he will make a statement on the matter. [23925/16]

Leaders' Questions (14 Jul 2016)

Stephen Donnelly: ...generate €100 million in taxes for the Irish State. To be clear, the level of taxes being missed by the Irish State is likely to be well over half of the total value of all of the distressed loan books sold by NAMA, IBRC and private banks. Will the Government direct Revenue to cancel section 110 status for all vulture funds in Ireland? Will it provide Revenue with the extra...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Stephen Donnelly: How much did NAMA pay for that set of assets? What was their book value?