Results 22,241-22,260 of 33,049 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: We do not have any expectation that it is a figure anywhere near that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: Potentially.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: This is where it is an employee of a health or dental insurer or a tied insurance agent.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: It is not general employers; it is an employer in the sector.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I do not anticipate this will generate a significant revenue stream because we expect the number of people affected to be low, although we cannot guarantee it at the moment. We expect it to be low because it is just a particular employer in a particular sector. As an employee of a company not in the sector is liable to benefit-in-kind taxation, we need to ensure there is a level playing...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: The reason is that the section of the Bill requires the employer to incur a cost which in turn generates the tax. Companies in this sector are supplying the product. My understanding is that the supply of this product is seen as free because they are working in that sector.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: It is based on the generation of a cost. Because we are talking about people who work within the sector, it is possible that people have not seen there being a cost in relation to the supply of this policy and we are dealing with that matter here.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: It depends on the kind of contract an employer will have with the employee. Of course, the converse applies. Somebody working in another company located beside the office the Deputy mentioned, who is provided with a health insurance policy, is paying tax on it. In the interest of a level playing field in our tax code, the employees of both companies should be paying tax on the benefit of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I do not have the information on VHI.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: The Deputy raised a number of examples, some of which could be subject to BIK and others of which will not be. The Revenue Commissioners are broadly confident that the BIK policy, as currently defined, is being implemented consistently across the economy. During their review of it, though, they identified this gap, which is what we are looking to address. We have no evidence of there being...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: This section makes a technical amendment to section 458 of the Taxes Consolidation Act 1997 to clarify that the earned income tax credit and the fisher tax credit are non-refundable tax credits. The effect of section 458 is to ensure that the value of a tax credit cannot exceed the tax due, as such a scenario would result in a refund to the taxpayer from Revenue. These two tax credits...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: The Deputy's proposal would see the current two-rate income tax system expand to become a five or six-rate system. This would be in addition to a USC system with five separate rates and a PRSI system with further distinct features. It is my view that our current three-part system of personal taxation is already complex and can be difficult for taxpayers and employers to understand. If...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: As I was making my response to the Deputy, I thought to myself that he probably would not have much concern about very high marginal rates of taxation for people earning more than €250,000.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I move amendment No. 10:In page 14, line 31, to delete “is incorporated and resident in the State, or” and substitute the following:“is incorporated in the State, or in an EEA state other than the State, and is resident in the State, or”. Amendments Nos. 10 to 12, inclusive, relate to the new key employee engagement programme, KEEP, which was introduced in budget...

Written Answers — Department of Finance: Tax Reliefs Availability (7 Nov 2017)

Paschal Donohoe: Section 216A of the Taxes Consolidation Act 1997 provides for the Rent-a-Room scheme. Under the terms of this scheme, sums arising to an individual in respect of the letting, for residential purposes, of a room or rooms in his or her home, may be fully exempt from income tax where they meet the conditions of the scheme and where the individual's total gross income from such...

Written Answers — Department of Finance: Property Tax Yield (7 Nov 2017)

Paschal Donohoe: I am advised by Revenue that the amount of Local Property Tax (LPT) collected broken down by Local Authority for 2016 is available on the Revenue website at: . Information in respect of LPT collection by Local Authority for the first three quarters of 2017 is available at: .

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (7 Nov 2017)

Paschal Donohoe: I am advised by Revenue that it has no record of an application under the scheme from the person concerned.  If that person contacts the Revenue Central Repayments Office, M:TEK II Building, Armagh Road, Monaghan, Telephone LoCall: 1890 60 60 61 advice and assistance will be provided. I am advised by Revenue that, in order to qualify for the Drivers/Passengers with Disabilities...

Written Answers — Department of Finance: Tracker Mortgage Examination (7 Nov 2017)

Paschal Donohoe: It should be noted that the Central Bank is responsible for the supervision of regulated financial service providers.  In this context the Central Bank maintains contact with other statutory bodies as appropriate and in its recent update on the tracker mortgage examination the Central Bank indicated that, since the previous March update report, it had met with the Competition and...

Written Answers — Department of Finance: Universal Social Charge Application (7 Nov 2017)

Paschal Donohoe: It is unclear from the Deputy’s question whether the earnings of under €36,000 refer to the pension of one individual or the combined pension income of both individuals in a couple.  It is also unclear if the question refers to Social Welfare pension income and/or to occupational pension income.  The Universal Social Charge is an individualised tax, meaning that a...