Stephen Donnelly (Wicklow, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

205. To ask the Minister for Finance the estimated changes to capital gains tax receipts due to Brexit, specifically with regard to internal transfers between Irish and United Kingdom company groups that have a presence both here and in the United Kingdom and that would incur capital gains tax as a result of former internal transfers. [26553/17]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by Revenue that the details of intergroup transfers of assets are not separately identified on the relevant tax returns. The Deputy may also be interested to note that, in the majority of situations, tax on capital gains realised by corporate entities is reported with and paid as part of their Corporation Tax liability.

As such, there is no reliable basis upon which to estimate the changes, if any, to receipts in this regard with respect to Brexit.

Stephen Donnelly (Wicklow, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

206. To ask the Minister for Finance his plans to conduct an outreach programme to ensure that all businesses are equipped to make the necessary decisions on customs in the context of preparations for Brexit; if an estimated start date has been set; the number of engagements targeted; and if he will make a statement on the matter. [26554/17]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by Revenue that there is ongoing engagement with the business community through meetings with business/trade representative groups, attendance at various Brexit events throughout the country and at meetings of the Customs Consultative Committee (CCC), representing the logistics, import and export sectors. Up to the present, the engagement has been for the purpose of listening to the concerns of business and advising on general customs matters.

There is a lot of negotiation yet to be done around trading arrangements and, by extension, any customs regime that might apply.   It is premature to set out, or provide advice on the basis of detailed possible solutions, particularly when negotiations have yet to properly begin.   It is important that technical solutions do not anticipate, or indeed drive, outcomes at a political level.

However, when there is more clarity about the likely outcome of Brexit negotiations, Revenue plan to conduct a general information campaign to assist businesses in assessing the likely customs impact on their business.  In a second stage, businesses which appear from Revenue records to have trade with the UK will be canvassed directly, and given the opportunity to discuss their particular issues.  Closer to the date of UK exit, an intensive programme of registration and authorisation will be undertaken to prepare businesses in detail for implementation of customs procedures.