Liam Twomey (Fine Gael)

I move recommendation No. 6:

In page 232, between lines 15 and 16, to insert the following:

"(4) The Minister shall make regulations that the lookback clause would be abolished for those individuals that are subject to the new Domicile levy.".

This proposal was brought forward in the debate on the Bill in the Lower House as well as on Committee Stage in this House. It would involve a simple change to recognise the massive contribution non-domiciled individuals make to the economy. They are being asked to pay a levy of €200,000 to differentiate them from others who live abroad to avoid paying tax in this country. This recommendation would amend the look-back clause in order that the individuals in question could spend more time here in the light of how much they contribute to the economy. It would represent a very small concession.