Results 3,461-3,480 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Industry (22 Nov 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can dictate the pricing or provision of insurance products, as this is a commercial matter assessed on a case-by-case basis. This position is reinforced by the EU legislative framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct insurance companies as to the...

Written Answers — Department of Finance: Tax Code (22 Nov 2022)

Paschal Donohoe: I am advised by Revenue that the estimated additional full-year revenue that would be generated if the local property tax rate increased to 0.50% for properties valued at over €1.05m and 1% for properties valued in excess of €1.4m would be in the region of €45 million.

Written Answers — Department of Finance: Revenue Commissioners (17 Nov 2022)

Paschal Donohoe: I am advised by Revenue that it works closely with other relevant authorities on the implementation of legislation relating to movements of live animals into and out of the State, focusing in particular on the movement of agricultural animals under customs control. However, if Customs Officers at ports or airports, as part of routine or intelligence led operations, detect dogs that have been...

Written Answers — Department of Finance: Tax Code (17 Nov 2022)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate (currently 23% in Ireland), unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member...

Written Answers — Department of Finance: Tax Code (17 Nov 2022)

Paschal Donohoe: I am advised by Revenue that it is not possible to provide a definitive response to the Deputy’s question, in the absence of specific details. However, an overview of the possible CAT treatment of the gift he has referred to is set out hereunder. The Capital Acquisitions Tax Consolidation Act 2003 (CATCA 2003) provides for a charge to capital acquisitions tax to be imposed on...

Written Answers — Department of Finance: Vehicle Registration Tax (17 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 154 and 155 together. Officers of the Revenue Commissioners have a statutory power under section 141 Finance Act 2001 to seize a vehicle as liable to forfeiture where there has been a breach of VRT legislation. Where goods have been seized as liable to forfeiture, Part 2 of the Finance Act 2001 sets out the procedures that apply as a consequence of seizure,...

Written Answers — Department of Finance: Rental Sector (17 Nov 2022)

Paschal Donohoe: As the Deputy will be aware, at Committee Stage of the Finance Bill 2022, I introduced a new section into the Bill to provide for a new tax incentive for small-scale landlords who undertake retrofitting works while the tenant remains in situ, which has the aim of attracting and retaining small-scale landlords in the private rental sector. The provision is intended to provide for a...

Written Answers — Department of Finance: Economic Policy (17 Nov 2022)

Paschal Donohoe: As the Deputy will be aware, the Fiscal Responsibility Act 2012 imposes a duty on the Government to endeavour to comply with the EU fiscal rules, known as the Stability and Growth Pact (SGP). Expenditure from the National Reserve Fund (NRF) would be classified as General Government expenditure and, therefore, fall within the scope of the Pact. However, it is important to note that the Fund...

Written Answers — Department of Finance: Departmental Data (17 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 158, 159, 160, 161 and 162 together. I am advised by Revenue that the amount of rental income on residential properties and commercial properties as declared on Form 11 tax returns by non tax-resident persons for the years 2016 to 2019 (the latest year for which data are currently available) is set out in the following table, as well as the number of...

Written Answers — Department of Finance: Tax Code (17 Nov 2022)

Paschal Donohoe: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes I brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being legislated for as far back as 2008 (but never...

Written Answers — Department of Finance: Tax Code (16 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 71 and 76 together. Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD prescribes minimum tax rates for fuel with which all Member States must comply. There are three national legislative frameworks which provide for the charging of excise duty on...

Written Answers — Department of Finance: Business Supports (16 Nov 2022)

Paschal Donohoe: I can confirm that new businesses will be eligible for the Temporary Business Energy Support Scheme. It is accepted that, in some cases, a business may not have an electricity bill or gas bill for the reference period because the energy account or gas connection either did not exist at the time, or was not held by the business during the particular reference period. This may happen where a...

Written Answers — Department of Finance: Banking Sector (16 Nov 2022)

Paschal Donohoe: On 1 August 2014, the Single European Payment Area (SEPA) Regulation came into effect for all payment service providers (PSPs) and payment service users (PSUs) in the EU. Under the SEPA Regulation, it is illegal for PSPs and PSUs to refuse to accept any SEPA International Bank Account Number (IBAN) when making or receiving payments. The legislation governing these matters is contained in EU...

Written Answers — Department of Finance: Insurance Industry (16 Nov 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can direct the pricing or provision 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 (the Solvency II Directive). Ultimately, the conditions and factors that...

Written Answers — Department of Finance: Semi-State Bodies (16 Nov 2022)

Paschal Donohoe: My officials participate in quarterly meetings of an interdepartmental group, chaired by officials from the Department of the Environment, Climate and Communications, which also includes officials from the Department of Public Expenditure and Reform, NewERA and the CEO and senior management of An Post. My officials have also met with the CFO of An Post in April and September this year in...

Written Answers — Department of Finance: Official Travel (16 Nov 2022)

Paschal Donohoe: There have been no official visits by the Minister for Finance to County Clare since the Government took office.

Written Answers — Department of Public Expenditure and Reform: EU Data (16 Nov 2022)

Paschal Donohoe: The Department of Public Expenditure and Reform has not incurred any EU fines for failure to transpose EU Directives since the Department was established in 2011. The Department has received a notification of infringement from the Commission related to the transposition of Directive (EU) 2019/1937 on the protection of persons who report breaches of EU law. At the time the notification was...