Results 22,981-23,000 of 33,055 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Prize Bonds (11 Sep 2017)

Paschal Donohoe: The NTMA has advised me the interest rate reduction reflects changes across the retail savings market and the fall in the cost of borrowing by the State. However, the change also maintains the balance of remaining competitive, providing good value for the holders of Prize Bonds while also remaining conscious of the cost to the taxpayer.  It should be borne in mind that the yield...

Written Answers — Department of Finance: Government Bonds (11 Sep 2017)

Paschal Donohoe: In 2013, the Central Bank acquired eight Floating Rate Notes (FRNs) amounting to €25 billion as part of the exchange of assets on the liquidation of IBRC. The Bank intends to dispose of these assets as soon as possible, financial stability conditions permitting. The sole responsibility for decisions regarding disposals of the Floating Rate Notes rests with the Central Bank, which...

Written Answers — Department of Finance: Mortgage Interest Relief Data (11 Sep 2017)

Paschal Donohoe: I believe the Deputy intended to refer to Parliamentary Question No. 112 of 26 July 2017.  In my reply on 26 July I provided an overview of section 244 of the Taxes Consolidation Act 1997, which provides tax relief in respect of interest paid by an individual on a loan used for the purchase, repair, development or improvement of his or her main residence or the sole or main...

Written Answers — Department of Finance: Tracker Mortgages (11 Sep 2017)

Paschal Donohoe: Officials in the Department referred the Deputy’s question to the bank and received the following response in this regard: “Under the Bank's Mortgage Redress Programme (MRP), to date there have been a total of 224 appeals to the Customer Appeals Panel (CAP). The Bank has received the decision of the CAP in 207 of these appeals. The following is a breakdown of the decisions of...

Written Answers — Department of Finance: VAT Rate Application (11 Sep 2017)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (11 Sep 2017)

Paschal Donohoe: Section 477C of the Taxes Consolidation Act 1997 provides for the Help-to-Buy (HTB) scheme.  It states that in order for a first time purchaser to be eligible for the HTB scheme, he or she must enter into a contract with a qualifying contractor.  If first-time purchasers do not purchase from a qualifying contractor, it is not an eligible house purchase. However, I am...

Written Answers — Department of Finance: Tax Reliefs Costs (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 130 and 181 together. I am advised by Revenue that the number availing of the rent relief tax credit, and the associated cost to the Exchequer, are available on the Revenue website at . The credit is available to those paying for private rented accommodation. This includes rent paid for flats, apartments or houses. It does not include rent paid to local...

Written Answers — Department of Finance: NAMA Portfolio (11 Sep 2017)

Paschal Donohoe: The Deputy will be aware that NAMA does not, in general, own land or property. Rather, NAMA’s role is as a secured lender and the properties which NAMA holds security over continue to be owned and managed by the original property owner, or insolvency practitioner where one is appointed. In relation to a breakdown of NAMA’s remaining portfolio, I would direct the Deputy towards...

Written Answers — Department of Finance: Departmental Consultations (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 132, 162 and 173 together. The consultation process on "the use of intermediary-type employment structures and self-employment arrangements and their impact on tax and PRSI" invited submissions from interested parties on possible measures to address the loss to the Exchequer that may arise under two sets of arrangements: - where an individual, who would...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: Following the liquidation of IBRC in February 2013 officials met with the Special Liquidators on a very frequent basis; however, given the progress being made on the liquidation, the frequency of these meetings has reduced as is to be expected. There were eight update meetings held between my officials and the Special Liquidators in 2016 and three update meetings have taken place so far this...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: I would like to draw the Deputy's attention to the most recent progress update report on the Special Liquidation of IBRC which was published on 5th May 2017 and which is available on the Department of Finance website: . The fees and all other third party costs as at 31 December 2016 are outlined in detail in this report. The costs of the Special Liquidators for the...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: Neither the Department of Finance nor the Comptroller and Auditor General have any role in relation to examining the procurement processes of the Special Liquidators. The liquidation of IBRC is similar to any other liquidation with the exception that the Special Liquidators have been appointed by the Minister under the Irish Bank Resolution Corporation Act 2013 rather than appointed by the...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 136 and 137 together. In February 2013 Kieran Wallace and Eamonn Richardson of KPMG were appointed on foot of the Special Liquidation Order by the then Minister for Finance as Special Liquidators of IBRC and were tasked with managing the winding-up of the institution. This process is ongoing. The Special Liquidators are obliged to comply with the...

Written Answers — Department of Finance: IBRC Expenditure (11 Sep 2017)

Paschal Donohoe: There has been no increase in the rates of fees charged by the Special Liquidators of Irish Bank Resolution Corporation Limited since the date of their appointment. The rates being charged are based on NAMA-negotiated rates for relevant services. These NAMA rates were put in place following a competitive tender conducted by NAMA.

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (11 Sep 2017)

Paschal Donohoe: Section 477C of the Taxes Consolidation Act is the legislation that provides for the Help-to-Buy initiative. The legislation states that in order for a first-time purchaser to be eligible for Help to Buy, he or she must enter into a contract with a Qualifying Contractor. If first-time purchasers do not purchase from a Qualifying Contractor, it is not an eligible house purchase. For...

Written Answers — Department of Finance: Central Bank of Ireland Staff (11 Sep 2017)

Paschal Donohoe: I am informed that the Central Bank Commission approved an additional complement for 2017 to circa 1,800 staff, which will be a target net increase of 200 staff on the total at end 2016.  This expansion included dedicated resources of an additional 28 staff to address specific Brexit-related new business needs within existing divisions.  Of these 28 staff, 18 have been...

Written Answers — Department of Finance: Services for People with Disabilities (11 Sep 2017)

Paschal Donohoe: I understand that the Deputy's question is focused in particular on my Department's Website, Audio & Telecommunications Services which are available to external customers and users. I am please to confirm that, in line with the commitments set out in our Customer Charter, our newly relaunched Departmental website has been designed with the aim of achieving conformance Level...

Written Answers — Department of Finance: Motor Insurance Costs (11 Sep 2017)

Paschal Donohoe: Differing costs of insurance between different markets and jurisdictions is an issue that exists across the EU. This arises for a range of reasons such as for instance differences in the size and volume of insurance awards.  While I cannot comment on the particular circumstances of the quotations that the Deputy references, and if such differences are typical, I would note that Northern...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (11 Sep 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners that the contractor from whom the persons concerned purchased the property is not on the register of approved contractors. I am also advised that there is some doubt in relation to the eligibility of the property in question for the Help-To-Buy scheme. I understand that Revenue is making direct contact with the persons concerned to make...

Written Answers — Department of Finance: Personal Contract Plans (11 Sep 2017)

Paschal Donohoe: Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. Hire-purchase providers are not required to seek authorisation from the Central Bank or the CCPC for the provision of hire-purchase...