Results 221-240 of 33,848 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Energy Prices (17 Sep 2025)

Paschal Donohoe: According to Eurostat, in the second half of 2024 electricity prices for consumers in Ireland averaged around €0.37 per kilowatt hour (kWh) compared to a euro area average of €0.30. Electricity costs make up almost 4 per cent of the basket of goods and services included in the Harmonised Index of Consumer Prices in Ireland. To end-July 2025, the annual rate of inflation for...

Written Answers — Department of Finance: Compulsory Purchase Orders (17 Sep 2025)

Paschal Donohoe: The acquisition of land by way of compulsory purchase order (CPO) is the disposal of an asset for the purposes of Capital Gains Tax (CGT). Any chargeable gain arising on such a disposal is subject to CGT at a rate of 33%. The first €1,270 of total chargeable gains in respect of an individual in any year of assessment is exempt from CGT. It is the amount of the chargeable gain (if...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: Legislation providing for the introduction of a new national excise duty to e-cigarettes, known as E-Liquid Products Tax (EPT), was included in Chapter 1 of Part 2 of Finance Act 2024. Essentially, e-liquid products are liquids used in e-cigarettes, including refill cartridges for refillable devices. EPT is subject to commencement by Ministerial Order to enable Revenue to make all necessary...

Written Answers — Department of Finance: Tax Reliefs (17 Sep 2025)

Paschal Donohoe: A gift of land by an individual to a sporting, artistic, cultural or community organisation for the development of facilities may give rise to Capital Gains Tax, Stamp Duty and Capital Acquisitions Tax considerations for the parties involved – details of such considerations, and in particular tax reliefs which may be available in such circumstances, are set out below. Capital...

Written Answers — Department of Finance: Departmental Reports (17 Sep 2025)

Paschal Donohoe: The ‘Future Forty: Ireland’s Demographic Outlook’ paper, published by my Department on 10 September, considers recent trends regarding migration and fertility at global, regional and national levels, and maps out the channels through which migration take place in Ireland. The report demonstrates how alternative scenarios for future net migration and fertility rates can...

Written Answers — Department of Finance: Tax Yield (17 Sep 2025)

Paschal Donohoe: I am advised by Revenue that the total revenue generated from Local Property Tax (LPT) and Vacant Homes Tax (VHT) is available, by year, on the Revenue website at : www.revenue.ie/en/corporate/information-about-revenue/statis tics/property-taxes/yearly-stats/2025/index.aspx The projected revenue for these taxes, for 2026, is not yet available. LPT and VHT returns are due to be filed in...

Written Answers — Department of Finance: State Bodies (17 Sep 2025)

Paschal Donohoe: The NTMA has advised me that ISIF committed in 2018 and 2020 to invest up to €25m to the Irish Whiskey Growth Fund. As per the 2024 NTMA Annual report, as at the end of December 2024, ISIF has a commitment of €22m to the Irish Whiskey Growth Fund. The Fund provides capital to Irish whiskey distilleries by way of stock-finance or direct stock-purchasing, supporting the growth of...

Written Answers — Department of Finance: Departmental Reports (17 Sep 2025)

Paschal Donohoe: An overreliance on highly concentrated corporation tax receipts has long been recognised as a key risk to our public finances. My Department has published a significant volume of analysis on our exposure to corporation tax risks: for example, Table 3 in the Economic and Fiscal Outlook published as part of Budget 2025 outlined the severe consequences for the fiscal position in downside...

Written Answers — Department of Finance: Financial Services (8 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 466 and 586 together. All entities involved in the business of providing credit or servicing a credit agreement entered into by a consumer are required to be authorised by the Central Bank of Ireland. This includes entities involved in managing or administering a credit agreement, such as for the purposes of collecting or recovering payments due under the...

Written Answers — Department of Finance: EU Directives (8 Sep 2025)

Paschal Donohoe: Ireland was one of 16 Member State signatories to a December 2024 letter calling on the Commission to take legislative action and make the modernisation of Tobacco Tax legislation a key priority during the current term. A revised Directive is essential to ensure that the rules remain fit for purpose, safeguards the proper functioning of the internal market and, very importantly, provide for...

Written Answers — Department of Finance: EU Budgets (8 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 468 and 470 to 472, inclusive, together. The Commission’s proposal on the 2028-2034 Multiannual Financial Framework was published in July 2025. This is the beginning of a long, multi-faceted and complex set of negotiations at Council and with the European Parliament, through 2025, 2026 and into 2027. My Department and the Department of Foreign...

Written Answers — Department of Finance: Housing Schemes (8 Sep 2025)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. An increase in the supply of new housing remains a central and priority aim of Government policy. For this reason, HTB is specifically designed to encourage an increase in demand for new build homes in order to support the construction of an...

Written Answers — Department of Finance: Summer Economic Statement (8 Sep 2025)

Paschal Donohoe: My Department updates its full suite of macroeconomic and fiscal projections twice a year, in the spring (Annual Progress Report) and autumn (Budget) publications. The latest set of projections were published as part of the 2025 Annual Progress Report in May this year, and did not extend beyond 2026. The published projections for general government expenditure and revenue in 2025 and 2026 are...

Written Answers — Department of Finance: Vacant Properties (8 Sep 2025)

Paschal Donohoe: The Vacant Homes Tax (VHT) was announced in Budget 2023 and legislated for in Finance Act 2022. The main objective of this tax is to increase the supply of residential properties to bring those properties back into use. VHT operates on a self-assessment basis, where the number of properties in scope and the amount of tax payable, depends on the self-assessed returns submitted by property...

Written Answers — Department of Finance: Vacant Properties (8 Sep 2025)

Paschal Donohoe: The Vacant Homes Tax (VHT) was announced in Budget 2023 and legislated for in Finance Act 2022. The main objective of this tax is to increase the supply of residential properties to bring those properties back into use. A residential property will be within the scope of the tax if it has been occupied as a dwelling for less than 30 days in a chargeable period. The tax operates on a...

Written Answers — Department of Finance: State Savings Schemes (8 Sep 2025)

Paschal Donohoe: I would say that proposals related to the financing of the delivery of social and affordable housing, including this proposal from the Deputy, are a matter for consideration by my colleague, Mr. James Browne T.D., Minister for Housing, Local Government and Heritage.

Written Answers — Department of Finance: Tax Code (8 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 478 and 500 together. Capital Acquisitions Tax (CAT) is a beneficiary-based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as...

Written Answers — Department of Finance: Insurance Industry (8 Sep 2025)

Paschal Donohoe: The Programme for Government commits to a comprehensive series of actions aimed at improving affordability, availability and transparency across the insurance sector. One of the first steps to deliver on these commitments is the new Action Plan for Insurance Reform, which was published by the Government on 24th July. As part of the development of the new Action Plan, my Department...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am advised by Revenue that the estimated first and full year yield to the Exchequer of the Deputy’s proposal would be €405 million and €505 million respectively. This would have the result of increasing the top USC rate on PAYE income from 8 per cent to 11 per cent and for non-PAYE income from 11 per cent to 14 per cent.

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am informed by Revenue that the yield from increases in the rate of stamp duty on non-residential property is shown is shown in their "Ready Reckoner" (www.revenue.ie/en/corporate/documents/statistics/ready-reck oner.pdf) at page 18. While the exact changes outlined in the question are not included in the document, the changes can be estimated on a straight-line mathematical basis. It...