Results 20,261-20,280 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Central Bank of Ireland Supervision (20 Mar 2018)

Paschal Donohoe: The Central Bank has advised the Minister that the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (the Regulations), which came into force on 21 March 2016, transposed the Mortgage Credit Directive into Irish law. Part 9 of the Regulations relates to foreign currency loans and provides for certain measures in relation to foreign currency loans. A foreign currency...

Written Answers — Department of Finance: Financial Services Regulation (20 Mar 2018)

Paschal Donohoe: The Central Bank have provided the table below outlining the costs of regulating the financial sector in 2016, and the budgeted cost of regulating the financial sector in 2017 (budgeted costs are being used as the Central Bank's financial statement for 2017 have not yet been finalised and published). It should be noted that amounts levied do not equal the cost of financial regulation...

Written Answers — Department of Finance: Mortgage Data (20 Mar 2018)

Paschal Donohoe: As Minister, I cannot comment on agreements made between a bank and a borrower.  However, the Central Bank has provided the following information in relation to the classification of a non-performing loan:   As per the EBA Implementing Technical Standards on supervisory reporting and the ECB Guidance on non-performing loans, non-performing exposures are those that...

Written Answers — Department of Finance: Central Bank of Ireland (20 Mar 2018)

Paschal Donohoe: As communicated in the Central Bank’s Strategic Plan (2016 – 2018), the Central Bank announced that it intended to review its strategy for banknote production. The purpose of this review was to determine how the Central Bank meets its Eurosystem obligations for its allocation of annual Euro banknote production. The review is completed but a decision has not yet been taken...

Written Answers — Department of Finance: Tax Collection (20 Mar 2018)

Paschal Donohoe: I am advised by Revenue that the date on which inheritance tax (Capital Acquisitions Tax) falls due is determined by the ‘valuation date’ on which the market value of the assets and property included in an inheritance must be established. Where this date is between 1 January and 31 August, inheritance tax must be paid by 31 October in the same year. Where this date is between...

Written Answers — Department of Finance: Financial Services Ombudsman Data (20 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 75 and 76 together. Firstly, I must point out that the Financial Services and Pensions Ombudsman is independent in the performance of his statutory functions.  I have no role in the day to day workings of his office. The Financial Services and Pensions Ombudsman (FSPO) was established on 01 January 2018 under the Financial Services and Pensions Ombudsman...

Written Answers — Department of Finance: Personal Contract Plans (20 Mar 2018)

Paschal Donohoe: As the Deputy will be aware in 2017 the Competition and Consumer Protection Commission (CCPC) undertook the first comprehensive study of the Personal Contract Plans (PCP) market in the State. As part of its study the CCPC issued detailed questionnaires to all the financial institutions that underwrite PCP finance in the State. This allowed the CCPC to compile, for the first time,...

Written Answers — Department of Finance: Stamp Duty (20 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 78 and 93 together. The measure to allow a farmer to claim relief from stamp duty where he or she sells and purchases land for the purposes of consolidating an existing farm holding has been introduced, subject to a commencement order after a full consideration of any administrative or EU state-aid requirements. For the relief to operate, there...

Written Answers — Department of Finance: Vehicle Registration (20 Mar 2018)

Paschal Donohoe: Revenue has advised me that the position in regard to the classification of the vehicle in question remains as stated in my reply to Parliamentary Question No. 186 of 27 February 2018.  Revenue has also confirmed that the review referred to by the Deputy was completed by the mentioned official prior to the Parliamentary Question and was reflected in the reply. I am further advised that...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (20 Mar 2018)

Paschal Donohoe: Section 477C(1) of the Taxes Consolidation Act 1997 sets out the definition of a ‘qualifying residence’ for the purpose of the Help to Buy (HTB) scheme. Specifically a qualifying property must be either: a new building which, was not at any time used, or suitable, for use as a dwelling or, a building which, was not at any time used, or suitable, for use as a dwelling (in whole...

Written Answers — Department of Finance: Wards of Court (20 Mar 2018)

Paschal Donohoe: I understand that this matter is currently being considered by officials in my Department. I would say that decisions concerning any changes to tax legislation, generally, are taken in the course of the annual Budgetary and Finance Bill process.

Written Answers — Department of Finance: Insurance Industry Regulation (20 Mar 2018)

Paschal Donohoe: Setanta was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that under the Insurance Act 1964, as amended, monies may be paid out of the Insurance Compensation Fund (ICF), with the approval of the High Court, in relation...

Written Answers — Department of Finance: Tax Collection (20 Mar 2018)

Paschal Donohoe: I am advised by Revenue that an official has already made contact with the person’s tax agent in regard to the issue in question. The tax agent informed Revenue that the person was out of the country but has committed to deal with the issue immediately on his return. Revenue has assured me that it will engage with the person as soon as he is available to...

Written Answers — Department of Finance: NAMA Expenditure (20 Mar 2018)

Paschal Donohoe: I wish to advise the Deputy that all receivers appointed to NAMA-secured properties are selected from NAMA's insolvency service provider panel which was established following a competitive public procurement process through which very competitive fixed-fee rates were achieved relative to prevailing market norms.  I am advised that, in general, fees are not paid to receivers directly by...

Written Answers — Department of Finance: Tribunals of Inquiry Recommendations (20 Mar 2018)

Paschal Donohoe: In response to the Deputy's question the Moriarty Tribunal made a number of recommendations which affected a number of Government Departments. As Minister for Finance I can only respond in relation to the recommendations made in relation to my own Department. The tribunal pointed out problems to be addressed in our system of financial regulation. Poor supervision, an overly-deferential...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (20 Mar 2018)

Paschal Donohoe: I am informed by the Revenue Commissioners that the qualifying provisions for the Disabled Drivers and Passengers Scheme are contained in Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994). Regulation 3 sets out the medical criteria by which the eligibility on medical grounds of disabled persons who are severely and permanently...

Written Answers — Department of Finance: Government Bonds (20 Mar 2018)

Paschal Donohoe: I am advised by the National Treasury Management Agency (NTMA) that Bank of Ireland historically acted as registrars for certain bonds and Savings Schemes on behalf of the State. Bank of Ireland ceased to fulfil this function some years ago. The Central Bank of Ireland is now responsible for the maintenance of the register of Irish Government Bonds. As part of its responsibilities the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (20 Mar 2018)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Tracker Mortgage Examination (20 Mar 2018)

Paschal Donohoe: As the Deputy is aware, the Central Bank of Ireland Tracker Mortgage Examination, which is well advanced at this stage, was established to ensure all borrowers who were adversely affected by the tracker scandal were identified and properly recompensed. All relevant matters fall under the scope of this examination, including the matter described in the details supplied by the Deputy. For...

Written Answers — Department of Finance: Social and Affordable Housing Provision (20 Mar 2018)

Paschal Donohoe: The Government's Rebuilding Ireland Action Plan for Housing and Homelessness emphasised the need to look at new ways of funding social housing delivery, in particular the need to provide structural, funding and policy supports to increase delivery of social housing by Approved Housing Bodies (AHBs). My colleague Eoghan Murphy, the Minister for Housing, Planning and Local Government,...