Results 20,081-20,100 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Corporation Tax (27 Mar 2018)

Paschal Donohoe: Ireland has never accepted the Commission’s analysis in the Apple State aid Decision and is challenging the Commission's decision before the European Courts. Notwithstanding this, the Government is committed to complying with the binding legal obligations the Commission’s Final Decision places on Ireland.  The Irish authorities have engaged fully with the Commission...

Written Answers — Department of Finance: Motor Insurance (27 Mar 2018)

Paschal Donohoe: I am aware of the concerns raised by the Deputy and have considerable sympathy for them. However, as I outlined in my response to question 5785/18 on this matter, neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the...

Written Answers — Department of Finance: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: Section 110 is intended to create a tax neutral regime for bona-fide securitisation and structured finance purposes.  It has been part of our corporation tax code since 1991, with significant amendments in 2003.  Securitisation involves the creation of tradeable securities out of an income stream or projected future income stream generated by financial assets.  The transaction...

Written Answers — Department of Finance: Insurance Costs (27 Mar 2018)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I, nor the Central Bank of Ireland, have the power to direct insurance companies on the pricing of insurance products.  Indeed, the EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain...

Written Answers — Department of Finance: Illicit Trade (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 82 and 120 together. The threat that fuel fraud and the illicit tobacco trade pose to legitimate business, to consumers and the Exchequer is recognised and I am advised by Revenue that tackling such criminal activity has been one of their priorities over recent years. Revenue’s strategy for combatting the illegal fuel trade has included the...

Written Answers — Department of Finance: Brexit Issues (27 Mar 2018)

Paschal Donohoe: My Department has been to the fore in producing and funding a number of Brexit-related studies, both before and since the UK's referendum decision. In addition, regular updates of my Department’s macroeconomic forecasts take account of the impact of Brexit. Published and commissioned Brexit-related studies by my Department include: - 'Scoping the Possible Economic Implications of...

Written Answers — Department of Finance: Insurance Costs (27 Mar 2018)

Paschal Donohoe: The second phase of the Cost of Insurance Working Group project culminated in the publication on January 25thof the Report on the Cost of Employer and Public Liability Insurance, following its approval by Government.  This new Report makes 15 recommendations with 29 associated actions to be carried out, detailed in an Action Plan contained in the Report with agreed timelines...

Written Answers — Department of Finance: Insurance Costs (27 Mar 2018)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Credit Union Services (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 86 and 97 together. The common bond restrictions limit the potential for credit unions to lend to housing bodies and local authorities, either directly or on a syndicated basis. As previously set out in my reply to parliamentary question No. 55 for written answer on 22nd February 2018, the Credit Union and Co-Operation with Overseas Regulators Act...

Written Answers — Department of Finance: IBRC Liquidation (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 87, 95, 107, 115, 178 and 210 together. I am advised by the Special Liquidators of IBRC that, having obtained information that a former employee of IBRC may have had documentation in his possession which belonged to IBRC, their legal advisors engaged in correspondence with the former employee to get details of what documentation was in his possession and...

Written Answers — Department of Finance: Motor Insurance Costs (27 Mar 2018)

Paschal Donohoe: The Deputy should note that in my role as Minister for Finance I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank can interfere in the pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on the risks they are willing to accept. However, it is...

Written Answers — Department of Finance: Brexit Issues (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 89 and 187 together. In the context of the UK’s withdrawal from the European Union, the EU has made clear that in light of the unique circumstances on the island of Ireland, flexible and imaginative solutions will be required, including with the aim of avoiding a hard border, while simultaneously respecting the integrity of the Union legal order....

Written Answers — Department of Finance: Corporation Tax (27 Mar 2018)

Paschal Donohoe: While the Government has never accepted the Commission’s analysis in the Apple State aid decision, we have always been clear that we are fully committed to ensuring that recovery of the alleged State aid takes place without delay and has committed significant resources to ensuring that this is achieved as quickly as possible. Significant progress has been made on this complex issue...

Written Answers — Department of Finance: Banking Sector Regulation (27 Mar 2018)

Paschal Donohoe: As the Deputy is aware Non-performing loans (NPL's) remain at an elevated level across the European banking system and addressing this issue is one of the key priorities for the Single Supervisory Mechanism (SSM). The reduction of NPL's is also being given high priority at EU level with the Commission announcing their "Action Plan to Tackle Non-Performing Loans in Europe" in July 2017. The...

Written Answers — Department of Finance: Mortgage Arrears Proposals (27 Mar 2018)

Paschal Donohoe: As the Deputy is aware Non-performing loans (NPL's) remain at an elevated level across the European banking system and addressing this issue is one of the key priorities for the Single Supervisory Mechanism (SSM). The reduction of NPL's is also being given high priority at EU level with the Commission announcing their "Action Plan to Tackle Non-Performing Loans in Europe" in July 2017. The...

Written Answers — Department of Finance: Banking Sector (27 Mar 2018)

Paschal Donohoe: I should stress at the outset that the Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches. The Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the Boards and management of the institutions. ...

Written Answers — Department of Finance: Tax Code (27 Mar 2018)

Paschal Donohoe: In the 2016 Finance Act, my predecessor introduced provisions to address concerns raised in both the media and the Dáil regarding the use of section 110 companies and certain Irish collective investment vehicles by international investors to minimise their tax payments on Irish property transactions. Section 22, Finance Act 2016 made certain changes to the taxation of qualifying...

Written Answers — Department of Finance: Banking Sector (27 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 96 and 175 together. As part of their regular engagement with the banks in which the State has a shareholding, officials in my Department discuss a wide range of topics, including loan sales. For example, in the case of Project Glas, the recently announced project announced by PTSB to sell a portfolio of NPLs, officials were first briefed by the bank on the...

Written Answers — Department of Finance: Brexit Issues (27 Mar 2018)

Paschal Donohoe: The Government’s position remains clear - it wishes for the closest possible relationship between the EU and the UK, post Brexit. This is in line with the European Council Guidelines agreed on 23 March, which reaffirmed the EU’s desire to establish a close partnership with the UK in the future.  The Government and its EU partners agree that any future agreement must have...

Written Answers — Department of Finance: Corporation Tax (27 Mar 2018)

Paschal Donohoe: As the Deputy is aware, US tax reform legislation was agreed shortly before Christmas last year.  This is the most substantial change to the US tax code in 30 years. Companies and Governments around the world are now fully analysing what are very complex changes.  Naturally, this is of great interest to Ireland given the large volume of US investment here. Consequently,...