Results 481-500 of 33,848 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Universal Social Charge (17 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 244 and 245 together. I am advised by Revenue that the table below sets out the estimated first and full year costs to the Exchequer, in 2025, of each proposal outlined by the Deputy. Proposal First Year €bn. Full Year €bn. Reduce the USC rates from 0.5% to 0%, 2% to 0% and increase the USC...

Written Answers — Department of Finance: Tax Data (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the details of asset disposals which taxpayers are obliged to include in their returns do not include specific reference to the disposal of ‘above-the -shop’ units. As such, there is no basis upon which to provide an estimate requested by the deputy.

Written Answers — Department of Finance: Revenue Commissioners (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the number of Form 11 filers who filed a return for 2021 and indicated that they were non-domiciled in Ireland was 59,600, with 41,900 of these also indicating that they were either resident or ordinarily resident in Ireland. I am further advised by Revenue that the number of Form 11 filers who filed a return for 2022 and indicated that they were non-domiciled...

Written Answers — Department of Finance: Tax Collection (17 Jul 2025)

Paschal Donohoe: This response assumes that the Deputy is referring to the remittance basis of assessment that applies to individuals who are resident or ordinarily resident, but not domiciled in the State. Under the remittance basis, non-domiciled individuals pay tax on: (1) Income and gains arising in Ireland, (2) Foreign income which they “remit” or bring into the...

Written Answers — Department of Finance: Tax Collection (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the estimated revenue raise by applying a 1% increase on the tax rate for capital gains tax, capital acquisitions tax and deposit interest retention tax (DIRT) can be found in the Revenue Ready Reckoner (Post Budget 2025 – pages 13,14 and 10), available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf. In...

Written Answers — Department of Finance: Departmental Data (17 Jul 2025)

Paschal Donohoe: Below are the holdings for 2022 to 2024 inclusive of Israeli sovereign debt held by ISIF. Year Value 2022 €2.69m 2023 €2.62m 2024 €3.62m Given the recent escalating geopolitical tensions and conflict in the Middle East, ISIF determined that the risk profile of a number...

Written Answers — Department of Finance: Departmental Bodies (17 Jul 2025)

Paschal Donohoe: “Bogus self-employment” is the description commonly given to a scenario where an individual engaged to do a job is wrongly classified as being self-employed by an employer who seeks to avoid employment related obligations. A person’s employment status has implications for tax purposes, PRSI and employment rights. There are a number of statutory bodies whose remit...

Written Answers — Department of Finance: Tax Data (17 Jul 2025)

Paschal Donohoe: I assume that the Deputy’s reference to “foreign earnings” relates to income derived from a foreign employment. Capital Acquisitions Tax (CAT) is a tax on gifts and inheritances that arises when a person receives a benefit without paying full consideration for that benefit. An income received from a person’s employer in consideration for the performance of...

Written Answers — Department of Finance: Tax Avoidance (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the tax avoidance surcharge is an additional penalty applied under Section 811C of the Taxes Consolidation Act 1997 to deter taxpayers from engaging in tax avoidance transactions. A tax avoidance surcharge applies where a person seeks to obtain the benefit of any tax advantage which is withdrawn by Section 811C General Anti Avoidance Rule (GAAR) or one of the...

Written Answers — Department of Finance: Financial Services (16 Jul 2025)

Paschal Donohoe: On the 22nd of October 2024, following Government approval, my predecessor published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ a wide-ranging review of the funds and asset management sector. The Review fulfilled a recommendation of the Commission on Taxation and Welfare 2022 report mentioned by the Deputy, which called for an...

Written Answers — Department of Finance: Enterprise Policy (16 Jul 2025)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. In the Programme for Government 2025 it was pledged to support SMEs, particularly those in the retail and hospitality sectors, by examining changes to VAT, PRSI and other measures. Any...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: Capital Gains Tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a residential property, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of an individual’s principal private residence (PPR), being a...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: A range of tax-based measures are in place to support or encourage the bringing of vacant residential properties back into use and to increase housing supply. These include the Living City Initiative, pre-letting expenses for vacant properties, the Vacant Homes Tax and the Residential Zoned Land Tax. Additionally, the Department of Housing, Local Government and Heritage provides funding...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: The Programme for Government 2025 commits to introducing a new, all-of-Government national housing plan to follow Housing for All. Any proposals in respect of new or existing measures will be considered in this context. Furthermore, it is a long-standing practice of the Minister for Finance not to comment on any tax matters that might be the subject of Budget decisions. The Vacant Homes...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: As the Deputy may be aware, under the EU VAT Directive, which Irish VAT law must comply, the VAT rate applied to goods and services must be the standard rate unless they are listed under Annex III of the Directive which allows for a reduced rate of VAT. Construction products and materials are not included in Annex III of the Directive so no reduced rate can be applied to them. Ireland...

Ceisteanna Eile - Other Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: I have shared this information with the Dáil on a number of occasions since I was reappointed as Minister for Finance. I am absolutely aware of all the awful humanitarian catastrophe that is unfolding on the people of Gaza and the House is aware of the very strong diplomatic action that this State is taking with regard to it. On this particular issue, as I said, ISIF has divested from...

Ceisteanna Eile - Other Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: Again, I condemn what is happening to the people of Gaza and the awful violence and trauma that is being inflicted on them. However, the Deputy referred to the importance of international law. I also have to adhere to domestic law and under domestic law, ISIF is independent of me. I can give it guidance, and strong guidance, in relation to its overall strategy, for which I have a statutory...

Ceisteanna Eile - Other Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: It is important that I do not play a role. This is an organisation that is responsible for €16.6 billion of our money. In order for that money to be looked after and managed in a way that is safe, it is very important that a Government does not play a role in directing it on individual transactions it makes.

Ceisteanna Eile - Other Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: I want to emphasise again my condemnation of all that is happening to the people of Gaza.

Ceisteanna Eile - Other Questions: Tax Code (15 Jul 2025)

Paschal Donohoe: I provided some information on this in my answer to Deputy Nash earlier, so I will just reiterate some of the key points. It will take some time to understand the consequences of this understanding that has been reached between a number of countries and America. The key issue I am concerned about is how this is consistent with the operation of the OECD agreement and the particular issues...