Results 301-320 of 33,848 for speaker:Paschal Donohoe

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

Paschal Donohoe: I am advised by Revenue that Remote Betting Duty is provided for in Section 67A of the Finance Act 2002 (as amended) and is currently set at a rate of 2% on the turnover of all bets placed with a licenced bookmaker by remote means. I am further advised that the estimated revenue that would be raised by increasing Remote Betting Duty by 1% is €32m. This estimate does not account for...

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

Paschal Donohoe: I am advised by Revenue that the estimated cost of abolishing LPT, provided in reply to the Deputy’s questions 43866-25 to 43869-25, includes the Local Adjustment Factor (LAF) decisions by local authorities for the 2025 LPT liability.

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

Paschal Donohoe: The Central Bank of Ireland advises that it does not publish data on interest only mortgages specifically for non-lending non-bank regulated entities. However, in its quarterly Mortgage Arrears and Repossessions statistical series the Central Bank publishes data on mortgage restructures by non-bank regulated entities (both lending and non-lending non-banks) and this includes the number...

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

Paschal Donohoe: I am advised by Revenue that the estimated cost to the Exchequer of implementing a Carbon Tax rate of €48.50 per tonne of CO2 emitted from the 1 January 2026 is shown in the following table: Cost Excise €m VAT €m Total €m First Year Cost 361 36 397 Full Year Cost ...

Written Answers — Department of Finance: Revenue Commissioners (8 Sep 2025)

Paschal Donohoe: The projections of tax revenue in the Annual Progress Report and Budget are produced by officials in my Department, taking into account the latest available information, including advice from the Revenue Commissioners. The most recent set of projections incorporate indicative estimates for carbon tax increases out to 2026. These figures are calculated on a technical basis and are subject...

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

Paschal Donohoe: I understand that the Deputy is seeking information on the annual tax revenue generated arising from the sale of period products including pads, tampons and other menstrual hygiene products. As the deputy may be aware, under the EU VAT Directive, which Irish VAT law must comply, all goods and services are generally liable for VAT at the standard rate. Historically Ireland availed of...

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

Paschal Donohoe: The restriction of reliefs' measure for individuals on high incomes, who make significant use of certain specified tax reliefs, was announced in Budget 2006 and came into effect from 1 January 2007. The intention of the restriction is to seek to improve the balance between promoting tax equity in relation to those on high incomes while at the same time maintaining the incentive effect of the...

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

Paschal Donohoe: Following clarification from the Deputy’s office, it was confirmed that the question relates to the personal credit, the employee credit and the earned income credit, and that the tapering would be done at a rate of 2.5% for every €1,000 increase in income levels, such that taxpayers earning in excess of €140,000 would have no entitlement to these credits. Further, it is...

Written Answers — Department of Finance: Banking Sector (8 Sep 2025)

Paschal Donohoe: The Bank of England determines monetary policy and sets official interest rates for the sterling area. In respect of Ireland and the wider eurozone area, the formulation and implementation of monetary policy and the setting of official eurozone interest rates, is an independent matter for the European Central Bank (ECB). The ECB increased interest rates over the course of 2022 and 2023 as...

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

Paschal Donohoe: I am advised by Revenue that the non-resident landlord withholding tax (NLWT) system was introduced in Finance Act 2022 to reduce the administrative burden on both tenants and collection agents and to simplify the process of complying with their tax obligations. The information provided as part of the NLWT requirements allows Revenue to identify the non-Irish resident landlord and correctly...

Written Answers — Department of Finance: Seized Property (8 Sep 2025)

Paschal Donohoe: I am advised by Revenue that on 2 December 2024, the Special Criminal Court authorised the release of the MV Matthew, thereby facilitating its disposal. It was not possible to commence the disposal process prior to this date. I have been further advised by Revenue that it was necessary to retain a globally recognised provider of integrated shipping services with an international breadth of...

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

Paschal Donohoe: As the Deputy will be aware, neither I as Minister for Finance nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance, as set out in the Solvency II Directive. With regard to the...

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

Paschal Donohoe: I propose to take Questions Nos. 567 and 568 together. For many years Government health and social policy has consistently focused on the denormalisation of smoking, as consumption of tobacco products remains one of the biggest avoidable health risks in our society. A key element of Government policy is our commitment to high taxation of tobacco to encourage people to quit smoking,...

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

Paschal Donohoe: As Minister for Finance, I receive a vast number of pre-Budget Submissions each year relating to the annual Budget. These come from a wide variety of groups, representative organisations and private individuals. Once a submission is received, it is acknowledged by my officials and then passed to the relevant area of my Department for consideration in the context of the Budget and Finance...

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

Paschal Donohoe: Discussions around encouraging citizens to invest more have been a large part of the Savings and Investments Union (SIU). As part of these discussions, the Swedish ISK (Investeringssparkonto) has been cited by the European Commission as a well-performing savings and investment account within the EU. The central thrust of the Savings and Investments Union (SIU) project is to help citizens to...

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

Paschal Donohoe: I propose to take Questions Nos. 571 and 572 together. The Taxsaver scheme is provided for in section 118(5A) of the Taxes Consolidation Act 1997 (TCA). The scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a travel pass for one of their employees or directors, subject to certain conditionality. Under section 118B TCA, an employer and employee may also...

Written Answers — Department of Finance: Central Bank of Ireland (8 Sep 2025)

Paschal Donohoe: On the morning of 01 September I received a letter from the Governor of the Central Bank informing me that the Central Bank's approval of the 2024 Prospectus had expired. The letter further informed me that the competent authority of Luxembourg, the "CSSF", had approved a new prospectus for the State of Israel. As this is the most recent update in relation the Central Bank's role is this...

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

Paschal Donohoe: As the Deputy will be aware, the EU VAT Directive, which Irish VAT legislation must comply, generally holds that all goods and services are liable for VAT at the standard rate unless they are specifically exempt from VAT through certain provisions or if they are included in the categories of goods and services listed under Annex III of the Directive where a reduced rate of VAT may be applied....

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. It also aims to encourage additional supply of new houses by supporting demand. HTB provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the...

Written Answers — Department of Finance: Trade Agreements (8 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 583 and 584 together. I am advised that the European Commission has on 3 September presented its final package on the EU-Mercosur Partnership Agreement (EMPA). This package includes the consolidated text of the original agreement negotiated in 2019 and the additional legal instrument addressing trade and sustainability commitments which was agreed last...