Results 6,121-6,140 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (15 Feb 2022)

Paschal Donohoe: Officials from the Department of Finance were notified of the intention of the Special Liquidators to retire as partners of KPMG with effect from April 2023. The Department is engaging with the Special Liquidators and KPMG and has received strong assurances that there will be full continuity of service from the Special Liquidators and from KPMG to complete the special liquidation of...

Written Answers — Department of Finance: Brexit Issues (15 Feb 2022)

Paschal Donohoe: I am advised by Revenue that for goods being imported from a non-EU country into the State, VAT is payable at point of importation. Imported goods are liable to VAT at the same rate as applies to similar goods sold within the State. They also require a Customs import declaration which is made using Revenue’s Customs Automated Import System (AIS). VAT registered traders may take credit...

Written Answers — Department of Finance: Brexit Issues (15 Feb 2022)

Paschal Donohoe: I am advised by Revenue that across the European Union, electronic customs import declarations are required for all parcels / packages coming from non-EU countries including the UK. In addition, since 1 July 2021, the VAT exemption for imported goods with a value of €22 or less was removed. From that date, all goods arriving into the EU from non-EU countries, regardless of their value,...

Written Answers — Department of Finance: Tax Yield (15 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 293 and 294 together. It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. This is a well established and broadly accepted principle. Section 19 of the Taxes Consolidation Act (TCA) 1997, sets out that tax under Schedule E shall be charged in respect of every public office or...

Written Answers — Department of Finance: Insurance Industry (15 Feb 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, which is ultimately a commercial matter for each provider. As the Deputy will appreciate, I am also unable to comment on individual cases. Notwithstanding this, the Government recognises that the cost of insurance remains a significant...

Written Answers — Department of Finance: Tax Code (15 Feb 2022)

Paschal Donohoe: As the Deputy will be aware, the VAT rating of goods and services is subject to the requirements of the EU VAT Directive, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates...

Written Answers — Department of Finance: Banking Sector (15 Feb 2022)

Paschal Donohoe: When a person applies for a mortgage loan to buy a home, the person will generally be required to take out mortgage protection insurance. In most cases, a lender is legally required under section 126 of the Consumer Credit Act 1995 to make sure that a mortgage applicant has mortgage protection insurance in place before granting a mortgage loan. This is an important statutory provision...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Feb 2022)

Paschal Donohoe: Article 13 of the Recovery and Resilience Facility Regulation provided for pre-financing. This allowed Member States to request early disbursement of funding up to a maximum of 13% of their overall allocation. For Ireland, this would have amounted to pre-financing of €129 million from our overall allocation of €915 million. The level of pre-financing available to Member...

Written Answers — Department of Finance: Environmental Impact Assessments (15 Feb 2022)

Paschal Donohoe: With regards to the sale and purchase of cryptocurrencies, it has always been my intention that any regulation in this space would be adequate, proportionate and comprehensive without discouraging innovation. In September 2020, the European Commission published the Digital Finance Package containing measures which aim to enable and support the development of digital finance while mitigating...

Written Answers — Department of Finance: Credit Register (15 Feb 2022)

Paschal Donohoe: The Central Credit Register (CCR) was established by the Central Bank under the Credit Reporting Act 2013. The obligations under the Act apply only to Credit Information Providers (lenders). Lenders are obliged to submit personal and credit information on credit applications and credit agreements which amount to €500 or more to the CCR. Lenders are also obliged to enquire on the...

Written Answers — Department of Finance: Tax Reliefs (15 Feb 2022)

Paschal Donohoe: The Government acknowledges the continuing high cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are already in place to ease the burden on working parents. These include various tax-exempted child-care related supports provided by the Minister for Children, Equality, Disability, Integration and Youth and...

Written Answers — Department of Finance: Tax Yield (15 Feb 2022)

Paschal Donohoe: The full yields for carbon tax revenue for the years in question are set out in the table below: Year Carbon Tax Revenue (VAT exclusive) 2017 €419,603,362 2018 €431,131,924 2019 €430,461,735 2020 €493,572,969 2021 ...

Written Answers — Department of Finance: Tax Code (15 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 303 and 304 together. As the Deputy is aware, I introduced a Committee stage amendment to section 604 of the Taxes Consolidation Act 1997 in the 2021 Finance Act which provides that where an individual disposes of their principal primary residence by way of a lottery or game with prizes, any gain over the market value of the property is subject to Capital...

Written Answers — Department of Finance: Tax Reliefs (15 Feb 2022)

Paschal Donohoe: Section 473A of the Taxes Consolidation Act 1997 provides for income tax relief in respect of qualifying tuition fees paid by an individual for a third level education course (including a postgraduate course), subject to the conditions set out in that section. The relief is granted at the standard rate of income tax (currently 20%), where an individual pays “qualifying fees” for...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 Feb 2022)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support employment and maintain the link between the employer and employee insofar as is possible. The EWSS has been a key component of the Government’s response to the Covid-19 crisis. It is an economy-wide scheme that operates across all sectors. In money terms, the overall support provided to-date (3rd February) by...

Written Answers — Department of Finance: Housing Schemes (10 Feb 2022)

Paschal Donohoe: The Help to Buy (HTB) scheme is an incentive for first-time property purchasers to help with the deposit needed to purchase or self-build a new house or apartment as a home. To date, the scheme has provided over €560 million to first time buyers in respect of more than 30,000 eligible claims. I am advised by Revenue that the scheme operates through an online system that includes...

Written Answers — Department of Finance: Housing Schemes (10 Feb 2022)

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. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the...

Written Answers — Department of Finance: Employment Data (10 Feb 2022)

Paschal Donohoe: Measures to limit the spread of COVID-19 had a substantial impact on economic activity and the labour market. At peak in May 2020, approximately 1.2 million people were in receipt of some form of income assistance from the state. However, since the phased re-opening of our economy and society at the start of April 2021, the outlook for the labour market has significantly improved. The...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 Feb 2022)

Paschal Donohoe: The position is that this Government has introduced a broad range of COVID-19 supports for businesses such as the Employment Wage Subsidy Scheme (EWSS) and its predecessor, the Temporary Wage Subsidy Scheme (TWSS) which represents a substantial and key part of this Government’s response to the COVID-19 crisis. The objective of both the EWSS and the TWSS before it is to support...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 Feb 2022)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which was provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, expired on 31 August 2020. The TWSS has been replaced by the Employment Wage Subsidy Scheme (EWSS) which is provided for in section 28B of the Emergency Measures in the Public Interest (COVID-19) Act 2020, as amended. The key eligibility...