Results 20,281-20,300 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (20 Mar 2018)

Paschal Donohoe: I refer the Deputy to the Code of Conduct on Mortgage Arrears (CCMA). The completion of affordability assessments is a key step in the Mortgage Arrears Resolution Process set out in the CCMA (Step 3 - Assessment). In this regard regulated entities must examine each case on its individual merits and it must base its assessment on the full circumstances of the borrower, including: a) the...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (20 Mar 2018)

Paschal Donohoe: I refer the Deputy to the relevant parts of Code of Conduct on Mortgage Arrears (CCMA) and the Standard Financial Statement (SFS): The Central Bank’s Code of Conduct on Mortgage Arrears (CCMA) applies to all regulated mortgage lenders and credit servicing firms operating in the State when dealing with borrowers facing or in mortgage arrears on their primary residence. The CCMA...

Written Answers — Department of Finance: Banking Sector (20 Mar 2018)

Paschal Donohoe: I propose to take Questions Nos. 96 and 97 together. As the deputy is aware the relationship between the Minister for Finance and AIB is governed by a Relationship Framework Agreement. Under this framework the Minister has no direct function in commercial decisions made by AIB and these decisions are the responsibility of the Board and management of the bank. in relation to your specific...

Written Answers — Department of Finance: Banking Sector Regulation (20 Mar 2018)

Paschal Donohoe: The Central Bank monitors compliance by regulated entities with its regulated requirements, including the Consumer Protection Code (the Code), through its on-going supervisory engagement with firms including but not limited to reviews and research; themed inspections; mystery shopping; and advertising monitoring. Provision 3.11 of the Code requires that where a regulated entity intends to...

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

Paschal Donohoe: Since 21 March 2016 tax appeals are made directly to the independent Tax Appeals Commission (TAC) which then notifies Revenue of the appeal. The amount estimated by Revenue to be in dispute for all tax appeals, both pre and post 21 March 2016, is approximately €1.8 billion. This figure relates to appeals that are with the TAC and with the Courts. The €1.8 billion disputed...

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

Paschal Donohoe: I am informed by the Tax Appeals Commission (TAC) that for a number of reasons, it is not possible to ascertain the average length of time an appeal takes to be heard or settled, as not all matters require a hearing. I am advised that some appeals can settle within a number of days of notification to the TAC due, in some part, to their less complex nature. However other more complex...

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

Paschal Donohoe: Since its establishment in March 2016 the Tax Appeals Commission (TAC) has had two full time Commissioners. An additional temporary Commissioner was appointed in June 2017 for a 2 year period in order to assist in disposing of the legacy appeals which transferred to the Commission from the Revenue Commissioners. My Department is currently considering a request from the TAC for additional...

Written Answers — Department of Finance: Credit Union Regulation (20 Mar 2018)

Paschal Donohoe: I can advise the Deputy that the board of each credit union is responsible for ensuring compliance with all legislative and regulatory requirements and guidance for the effective governance of the credit union. In particular there is an onus on the boards of credit unions operating prize draws to ensure that the governance, operation and recording of financial transactions are in line with...

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

Paschal Donohoe: I am informed by Revenue that the Finance Act 1992, section 135(D) provides for the repayment, in certain circumstances, of Vehicle Registration Tax where a vehicle is permanently exported from the State. This section was commenced with effect from 8 April 2013. Subsection (5) of this section originally provided that Revenue must make the repayment to the person named on the Vehicle...

Written Answers — Department of Finance: VAT Rate Application (20 Mar 2018)

Paschal Donohoe: The VAT treatment of motor vehicles is subject to the requirements of the EU VAT Directive, with which Irish VAT law must comply. I am advised by The Revenue Commissioners that Motor vehicles which are brought into the State and are 'new' for VAT purposes are subject to VAT at the standard rate. In accordance to the Directive, Irish legislation provides that a motor vehicle is...

Written Answers — Department of Finance: VAT Yield (20 Mar 2018)

Paschal Donohoe: I am advised by The Revenue Commissioners that traders are not required to separately identify the yield generated from a particular activity or product type on their VAT returns. The information is therefore not available to provide an estimate of the VAT received from the sale of print or online newspapers.

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

Paschal Donohoe: My Department's most recent macroeconomic forecasts were published with Budget 2018 in October last year, and cover the period up until 2021. The following table sets out the total employment projections from these forecasts. My Department does not produce regional macroeconomic forecasts. Overall, it is forecast that there will be employment growth of approximately 2.0 per cent on average...

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

Paschal Donohoe: I am informed by the NTMA that Prize Bond draws are held by the Prize Bond Company in a controlled access environment in the GPO. A representative of the NTMA acts as independent observer on each occasion. The draws usually take place on a Friday. A draw is held, at a minimum, in respect of each week of a calendar year. The procedure for the selection of Prize Bonds to be awarded prizes in...

Written Answers — Department of Finance: EU Directives (20 Mar 2018)

Paschal Donohoe: The Insurance Distribution Directive (IDD) was published in the Official Journal of the European Union in February 2016 and was originally to be transposed into Irish law and apply to industry by February 2018. On 20 December 2017 the European Commission published a proposal to postpone the application date of IDD to October 2018. This proposal was subsequently amended to postpone the...

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

Paschal Donohoe: I am advised by Revenue that the importation of purchases made by online shoppers from non-EU countries are generally carried out either by express couriers or through the postal system. In the case of the express couriers, these companies complete the necessary import declarations and pay duty and VAT, where payable, to Customs. In respect of imports via the postal system, the...

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

Paschal Donohoe: The Central Bank has advised that, as of end-December 2017, lenders have reported that loss of ownership has occurred in respect of 41 private dwelling homes and 100 buy to let properties arising from their failings to their tracker mortgage borrowers. However, it should also be noted that, as lenders’ analyses continues, this figure can be expected to rise. The Tracker...

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

Paschal Donohoe: A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax expenditures published on budget day 2016. The review may be found at the following link: () The review concluded that: "...analysis of the scheme using the principles laid down by the...

Written Answers — Department of Finance: Departmental Schemes (20 Mar 2018)

Paschal Donohoe: I did not receive a proposal for a scheme similar to the home renovation incentive scheme to incentivise the refurbishment of derelict business premises in towns and villages from other Ministers, or their Departments, in the course of preparations for Budget 2018, nor have I received such a proposal so far this year.

Written Answers — Department of Finance: Departmental Schemes (20 Mar 2018)

Paschal Donohoe: I have received a number of proposals for tax incentives along the lines the Deputy suggests. The use of tax incentives and reliefs in accordance with the tax expenditure guidelines published by my Department, is one of a number of potential approaches that can be adopted to deal with the issues mentioned by the Deputy. There are number of tax incentives already in...

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

Paschal Donohoe: I propose to take Questions Nos. 114 and 115 together. I am informed by Revenue 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). Regulations 8 (disabled drivers), 10 (disabled passengers) and 12 (organisations) provide that a...