Results 22,521-22,540 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Public Expenditure and Reform: State Properties (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 121 to 123, inclusive, together. The primary purpose of Section 28 of the State Property Act 1954 is to ensure that there is no gap in legal ownership of the assets of a dissolved company. Once a company is dissolved, its assets vest in the Minister for Public Expenditure and Reform. The vesting is automatic and does not require any intervention from the...

Written Answers — Department of Finance: Tax Code (19 Oct 2017)

Paschal Donohoe: The Office of the Revenue Commissioners is obliged to comply with its statutory tax and duty obligations. In so doing, it is required to apply any changes to tax or USC rates as passed by the Oireachtas. The question of Revenue applying rates other than those set out in statute does not therefore arise. On the topic of ring-fencing tax receipts, from a budgetary perspective any move to...

Written Answers — Department of Finance: Property Tax Yield (19 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 63 and 64 together. I am advised by Revenue that the cost of all claimed exemptions to Local Property Tax (LPT) is estimated to be €12.5m for 2017. The estimated cost associated with the exemptions that are due to expire in 2019 is €3.5m. These estimates include exemptions claimed in respect of properties purchased from a builder or...

Written Answers — Department of Finance: Budget Measures (19 Oct 2017)

Paschal Donohoe: I am advised by my officials that no ex-ante position has been requested from Eurostat from any of the entities referred. It is important to note that Home Building Finance Ireland ('HBFI') has been designed to provide funding to commercially viable developments at competitive market rates and as such both the entity and its activities are expected to satisfy the requirements of an...

Written Answers — Department of Finance: NAMA Operations (19 Oct 2017)

Paschal Donohoe: As announced in my Budget speech on 10 October 2017, it is my intention to establish Home Building Finance Ireland (HBFI) to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding.  HBFI will be a standalone entity which will provide funding directly into the market. HBFI will be designed to leverage...

Written Answers — Department of Finance: Stamp Duty (19 Oct 2017)

Paschal Donohoe: In my Budget 2018 statement I announced an increase in the stamp duty rate for all non-residential property transactions, including agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine I also extended consanguinity relief for another 3 years and provided that the stamp duty rate applying under that scheme will be fixed at 1%....

Written Answers — Department of Finance: Bank Debt Restructuring (19 Oct 2017)

Paschal Donohoe: As the Deputy is aware, the relationship between the Minister for Finance and banks in which the State is a shareholder is governed by Relationship Frameworks, which can be found on my Department's website. In accordance with these Relationship Frameworks, I as Minister for Finance have no direct function in commercial decisions made by the banks, these decisions are...

Written Answers — Department of Finance: NAMA Loan Offers (19 Oct 2017)

Paschal Donohoe: I am advised by NAMA that its lending terms are in line with those available on the open market. The interest rates charged on loans advanced by the Agency typically comprise a margin over Euribor. Some facilities are by reference to the margin NAMA inherited from the participating institution. Typically however, the margin is determined by reference to the risk characteristics of each...

Written Answers — Department of Finance: Stamp Duty (18 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 86 and 89 together. In my Budget 2018 statement I announced an increase in the stamp duty rate for all non-residential property transactions, including agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine I also extended consanguinity relief for another 3 years and provided that the stamp duty rate...

Written Answers — Department of Finance: Tax Code (18 Oct 2017)

Paschal Donohoe: I am advised by Revenue that section 86 of the Capital Acquisitions Tax Consolidation Act 2003 provides an exemption from capital acquisitions tax on the inheritance or gift of a dwelling house in certain circumstances. One of the qualifying conditions for the dwelling house exemption is that the beneficiary does not have an interest in another dwelling house when he or she claims the...

Written Answers — Department of Finance: Budget Measures (18 Oct 2017)

Paschal Donohoe: Following the recommendation of the Low Pay Commission, the national minimum wage will increase from €9.25 per hour to €9.55 per hour in 2018. For an individual working full-time on the minimum wage (i.e. 39 hours per week), this should result in an increase to gross income of €608 per annum. A single person on the current minimum wage, i.e. with annual employment...

Written Answers — Department of Finance: National Debt (18 Oct 2017)

Paschal Donohoe: As I have already explained in my written answer to parliamentary question 42703/17, the Social Housing Current Expenditure Programme provides a means whereby properties can be built or bought by Approved Housing Bodies (AHBs) with the combined use of State and private funding, and leased by AHBs and Local Authorities from private providers, for the provision of social housing....

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (18 Oct 2017)

Paschal Donohoe: The Help to Buy initiative is available to persons who have not previously owned, or part-owned, a dwelling. I am advised by Revenue that the ownership of purely agricultural land that does not include a dwelling would not preclude a person, who otherwise meets the qualifying criteria, from availing of the scheme. Comprehensive details of the operation of the Help to Buy are...

Written Answers — Department of Finance: Pension Provisions (18 Oct 2017)

Paschal Donohoe: I am advised by Revenue that an individual in a defined contribution pension savings arrangement has the option, on retirement, of putting the funds accumulated under the arrangement into an Approved Retirement Fund (ARF), subject to conditions. Where such an individual is under the age of 75 at the time of exercising the option and does not meet the requirement of having a minimum...

Written Answers — Department of Public Expenditure and Reform: Equality Proofing of Budgets (18 Oct 2017)

Paschal Donohoe: The paper 'Equality Budgeting: Proposed Next Steps in Ireland' was published alongside Budget 2018. The paper is the policy document which provides an overview of the concept of equality budgeting, the progress made in integrating equality budgeting into expenditure management and the estimates process, and the proposed next steps for the introduction of equality budgeting in Ireland. The...

Written Answers — Department of Finance: Film Industry Tax Reliefs (17 Oct 2017)

Paschal Donohoe: As a tax expenditure of the Taxes Consolidation Act 1997, Section 481 is subject to the requirements of the Department of Finance tax expenditure guidelines. The Tax Expenditure Guidelines can be found at:. As a requirement under the guidelines, reliefs such as section 481 are required to be reviewed periodically. A full ex post analysis and review of section 481 will be...

Written Answers — Department of Finance: Tax Code (17 Oct 2017)

Paschal Donohoe: Hypothecation of revenue receipts is not a feature of the Irish tax system in general as it reduces the flexibility of the Government to prioritise and allocate funds as necessary at a particular time. The Department of Communications, Climate Action and Environment receive an annual budget as part of the estimates process which they allocate according to the priorities within that...

Written Answers — Department of Finance: Vehicle Registration Data (17 Oct 2017)

Paschal Donohoe: I am advised by Revenue that the used cars registered for Vehicle Registration Tax that were imported from the United Kingdom in 2015, 2016 and for the period January to September 2017 are as follows. Year Imports 2015 45,454 2016 69,571 2017 (9 Months) 69,439 There has been a noticeable increase in these imports since the devaluation of sterling with a 53% increase in 2016 over the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (17 Oct 2017)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides relief from VAT and Vehicle Registration Tax, an exemption from motor tax and a grant in respect of fuel expenditure, on the purchase of an adapted car for transport of a permanently and severely disabled person within the terms of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994. The...

Written Answers — Department of Finance: Stamp Duty (17 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 116, 135 and 142 together. In my Budget 2018 statement I announced an increase in the stamp duty rate for all non-residential property transactions, including agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine I also extended consanguinity relief for another 3 years and provided that the stamp duty...