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Financial Resolution No. 2: Capital Gains Tax

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Snippet Contents:

It is a bit disingenuous of the Minister to say the reason we have to do this tonight is because companies may reorganise their tax affairs. Companies know this is happening. They know a directive has been set down and that all EU member states must introduce an exit tax. They all know it has to be done by 1 January 2020. It is not coming as a huge surprise to companies. There is no reason we could not have had a debate, looked at the reports and all of the options available to us and then come down in favour of a particular rate. I believe 12.5% is too low. There has been no discussion about it. No supporting documentation has been given by the Department on why we are settling on 12.5%. I do not know why it is not being kept at 33%. What I do know is we are not doing business correctly here tonight by trying to force it through within the next ten minutes. It is irresponsible and I support the call from the Labour Party to withdraw the financial resolution tonight because if the Government does not do so we cannot support it, even though we are in favour of an exit tax.