Results 20,681-20,700 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Excise Duties (15 Feb 2018)

Paschal Donohoe: A differential in the rate of excise applied to petrol and that applied to diesel exists due to diesel being the traditional fuel of business. Commercial vehicles such as heavy goods vehicles had no economically viable alternative and the reduced excise rate on diesel was applied in recognition of this and the role of transport in the wider economy where added...

Written Answers — Department of Finance: Departmental Communications (15 Feb 2018)

Paschal Donohoe: In response to the Deputy, I can confirm that a normal local landline phone number is provided along with an 1890 phone number for my Department, and that these numbers are available on the www.finance.gov.ie website. As regards the Office of the Revenue Commissioners, I am informed by Revenue that the 1890 LoCall telephone service (which has been available for a number of years) is the best...

Written Answers — Department of Finance: Tax Compliance (15 Feb 2018)

Paschal Donohoe: I am advised by Revenue that 161 companies, who have notified Revenue that they are qualifying companies for the purposes of section 110 of the Taxes Consolidation Act 1997 (TCA), have not filed financial statements along with their corporate tax returns for 2016. Revenue is, in accordance with its normal compliance management activities, following up on this aspect of non-compliance,...

Written Answers — Department of Finance: Tax Yield (15 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 100 and 101 together. Based on 2017 alcohol receipts and applying a simple straight line calculation the following table provides an estimate of the impact on the Exchequer in the event that alcohol consumption fell by 10%, 15%, 20% and 25% respectively. Total excise receipts (€ million) Total Reduction (€ million) Total excise receipts for...

Written Answers — Department of Finance: Tax Appeals Commission (15 Feb 2018)

Paschal Donohoe: The Tax Appeals Commission (TAC) is an independent statutory body tasked with managing appeals in relation to the adjudication of tax disputes. The Commission was established on 21 March 2016 following the commencement of the Finance (Tax Appeals) Act 2015. The following table outlines the number of cases heard from September, 2017 to January, 2018, by tax type and the number of cases heard...

Written Answers — Department of Finance: Insurance Industry Regulation (15 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 103 to 106, inclusive, together. I am advised by the Central Bank of Ireland (the Bank) that on 15 February 2007, it issued correspondence to firms authorised under the Investment Intermediaries Act, 1995 (as amended) (IIA) advising them of their requirement to register under the European Communities (Insurance Mediation) Regulations 2005 (IMR). This...

Written Answers — Department of Finance: Financial Services Sector (15 Feb 2018)

Paschal Donohoe: The Central Bank of Ireland regulates more than 10,000 firms providing financial services in Ireland and overseas (according to its most recent Annual Performance Report 2016-2017 published in  April 2017, the Central Bank regulates 10,042  firms).   The types of firms regulated include Brokers/Retail Intermediaries, Bureaux de Change, Credit Institutions, Credit...

Written Answers — Department of Finance: Insurance Compensation Fund (15 Feb 2018)

Paschal Donohoe: In relation to the former customers of Setanta Insurance, the Deputy will know that 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...

Written Answers — Department of Finance: NAMA Operations (15 Feb 2018)

Paschal Donohoe: The Deputy will be aware that NAMA does not own or manage properties. NAMA acquired loans and the properties securing those loans continue to be managed by their legal owners or, in the case of enforcement, by duly appointed insolvency practitioners, who are responsible for the management of the properties and for decisions regarding future strategy for the properties. Under Section 10 of...

Written Answers — Department of Finance: Tax Exemptions (15 Feb 2018)

Paschal Donohoe: I am informed by Revenue that for gift tax purposes, the relationship between the person who provides the gift (i.e. the disponer) and the person who receives the gift (i.e. the beneficiary) determines the maximum amount known as the “Group threshold” below which gift tax does not arise. There are three separate Group thresholds based on the relationship of the beneficiary...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (15 Feb 2018)

Paschal Donohoe: As the Deputy will be aware, the goal of Strategic Banking Corporation of Ireland (SBCI) is to facilitate and encourage the availability of appropriately priced funding to SMEs on more flexible terms than has been available in recent times on the Irish market. The strategic mission of the Strategic Banking Corporation of Ireland (SBCI) is to deliver effective financial supports to Irish SMEs...

Written Answers — Department of Finance: European Fund for Strategic Investments (15 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 112 and 113 together. I take it that the Deputy is referring to the European Commission - European Investment Bank (EIB) - Member State Special Task Force to develop an Investment project pipeline for the EU in the Autumn of 2014. The purpose of that exercise was to compile a list of potential investment projects across Member States,...

Written Answers — Department of Finance: Pension Provisions (15 Feb 2018)

Paschal Donohoe: The legislation governing the tax treatment of pensions is contained in Part 30 of, and Schedules 23 to 23C to, the Taxes Consolidation Act 1997. In addition, the Revenue Pensions Manual gives general guidance on, among other things, how this legislation is to be applied. Revenue rules in relation to "Increases of Pensions in Payment" are set out in Chapter 6.8 of the Revenue Pensions...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Feb 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). In Ireland significant progress has been made across the banking sector in reducing the level of NPLs since the financial crisis. Despite this progress, the level of NPLs in the...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Feb 2018)

Paschal Donohoe: I can confirm for the Deputy that I have been informed of permanent tsb’s decision to launch a sale process involving a portfolio of non-performing loans. This transaction was confirmed publicly by the bank earlier this week and has been dubbed Project Glas. This decision is being taken to help reduce the bank’s high level of non-performing loans and is a move prompted by SSM...

Written Answers — Department of Finance: Stamp Duty (15 Feb 2018)

Paschal Donohoe: I am advised that, while forecasts for 2019 to 2021 are not available, Revenue provide estimates of receipts for the current Budget year. Revenue’s estimates for Stamp Duty from non-residential property transactions 2018 are based on receipts for previous years, as well as impacts of earlier policy changes and assessment of significant once-off transactions that are not expected to...

Written Answers — Department of Finance: Tax Data (15 Feb 2018)

Paschal Donohoe: The standard rate cut off point increased by €750 in Budget 2018 for all earners, e.g. from €33,800 to €34,550 for single individuals and from €42,800 to €43,550 for married one earner couples. As published in Budget documentation, at the time of Budget 2018 it was estimated that the first year (i.e. 2018) cost of the increase would be €132 million,...

Written Answers — Department of Finance: Government Bonds (15 Feb 2018)

Paschal Donohoe: As the Deputy may be aware, last December the National Treasury Management Agency (NTMA) announced that it planned to issue €14 - €18 billion of Government bonds over the course of 2018. It has already issued €5.25 billion of benchmark bonds so far this year. This is one third of the mid-way point of the €14 - €18 billion range. The volume of new...

Written Answers — Department of Finance: Government Bonds (15 Feb 2018)

Paschal Donohoe: Having already been reduced in size twice, Quantitative Easing (QE) is now scheduled to run until at least September 2018. This was confirmed by the European Central Bank (ECB) at its most recent Governing Council meeting in January, when it stated that net asset purchases under the Programme are intended to run until the end of September 2018, or beyond if necessary. The...

Written Answers — Department of Finance: Gender Recognition (14 Feb 2018)

Paschal Donohoe: As the Deputy is aware, on 4 September 2015, the Gender Recognition Act 2015 came into effect and provides for the legal recognition of a person's preferred gender. Under the Civil Service Diversity Policy - A Policy of Equality of Opportunity, the Department of Finance is strongly committed to equality of opportunity in all it employment practices. As an employer, the Department must...