Results 6,301-6,320 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Industry (19 Jan 2022)

Paschal Donohoe: At the outset, it is important to point out that neither I, nor the Central Bank, can intervene in the provision or pricing of insurance products, which is ultimately a commercial matter for each provider. However, this point notwithstanding, the Government is committed to reforming the Irish insurance environment through delivery of the Action Plan for Insurance Reform. One of the...

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2022)

Paschal Donohoe: Section 284 Taxes Consolidation Act (TCA) 1997 makes provision for a person carrying on a trade, who incurs capital expenditure on the provision of machinery or plant for the purposes of the trade, to claim capital allowances in respect of that expenditure.  Capital allowances allow the wear and tear of plant and machinery be taken into account as a deduction for tax purposes. In...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (19 Jan 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 (13th January) by...

Written Answers — Department of Finance: Housing Provision (19 Jan 2022)

Paschal Donohoe: Through working with debtors and receivers, NAMA’s residential delivery programme facilitated the completion of 10,052 units in the years 2018 to 2020. This total includes: 5,283 units directly funded by NAMA; and 4,769 new residential units completed on sites for which NAMA had funded planning permission, enabling works, legal costs or holding costs prior to disposal or refinance....

Written Answers — Department of Finance: Housing Schemes (19 Jan 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 of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. The legislation governing the HTB scheme is set out in section...

Written Answers — Department of Finance: Departmental Reports (19 Jan 2022)

Paschal Donohoe: I welcome the findings of this important report and note that it has been referred to the National Disability Inclusion Strategy Steering Group chaired by Minister of State Anne Rabbitte T.D. to consider what actions should follow.   I look forward to engaging with my Government colleagues and in particular with Minister of State Rabbitte in the matter.

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2022)

Paschal Donohoe: I am advised by Revenue that the tax agent representing the couple in question filed a tax return (Form 11) for the 2020 tax year on their behalf on 9June 2021. The return included a claim for relief amounting to €10,900 in respect of pension contributions paid by the couple. Revenue subsequently acknowledged to both the couple and the tax agent that the full amount of the relief...

Written Answers — Department of Finance: Legislative Measures (19 Jan 2022)

Paschal Donohoe: I am assuming the Deputy is referring to Parliamentary Question No. 201 (proof No. 203) of 7 December last as it refers to the time limits for investigating a complaint by the Financial Services and Pensions Ombudsman (FSPO) and not Parliamentary Question No. 203. In July 2017, legislative changes were made to the time limits for making complaints to the FSPO’s...

Written Answers — Department of Finance: Tax Code (19 Jan 2022)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply.  Under the EU VAT Directive and Irish VAT legislation the supply of building materials is liable to VAT at the standard rate, which in Ireland is currently 23%.  In general, Member states are not permitted to apply a VAT rate...

Written Answers — Department of Finance: Trade Data (19 Jan 2022)

Paschal Donohoe: I am informed by the Sustainable Energy Authority of Ireland that the level of imports for the fuels concerned is as set out in the table below.  Please note that 2021 figures are provisional. Fuel type Market flow Products Units 2019 2020 Jan-Nov 2021 Oil Products Imported Road Diesel kilolitres...

Written Answers — Department of Finance: Tax Data (19 Jan 2022)

Paschal Donohoe: As part of the Budget each year, data on the average effective tax rates for a range of earnings are published and can be located in the Tax Policy Changes document at the following link -www.gov.ie/en/publication/7e491-taxation-measures/. My Department has prepared Table 1 below which sets out the effective tax rates for a single individual taxpayer (Class A – Full PRSI), for the...

Written Answers — Department of Finance: Insurance Coverage (19 Jan 2022)

Paschal Donohoe: At the outset, it is important to point out that neither I, nor the Central Bank, can intervene in the provision or pricing of insurance products, which is ultimately a commercial matter for each provider. This position is reinforced by EU legislation, specifically the Solvency II Directive. However, this point notwithstanding, the Government is committed to reforming the Irish insurance...

Written Answers — Department of Finance: Departmental Schemes (19 Jan 2022)

Paschal Donohoe: The Department of Finance does not provide any grants for the purchase of a vehicle but instead administers the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme which provides relief from VAT and VRT (up to a certain limit) set against the purchase and use of an adapted car, and for transport of a person with specific severe and permanent physical disabilities. The...

Written Answers — Department of Finance: Banking Sector (19 Jan 2022)

Paschal Donohoe: As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard, including the specific servicing arrangements for a loan book, are the sole responsibility of the board and management of the banks which must be run on an independent and...

Written Answers — Department of Finance: Greyhound Industry (19 Jan 2022)

Paschal Donohoe: There is no specific income tax relief available for the sale of greyhounds for racing.  However, I am advised by Revenue that an individual’s ownership and racing of greyhounds is generally considered a “hobby” or a “recreational activity” and therefore outside the scope of the income tax system. Where a greyhound maintained as part of a hobby...

Written Answers — Department of Finance: Primary Medical Certificates (19 Jan 2022)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons who also meet one of six specified medical criteria, as a driver or as a passenger and also to certain organisations. In order...

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

Paschal Donohoe: As the Deputy may be aware, Revenue has published, since the onset of the pandemic, regular statistical updates on the COVID-19 support schemes that it administers. These statistics are available at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/number-of-taxpayers-and-returns/covid-19-support-scheme s-statistics.aspx.   It should be noted that updates are provided...

Written Answers — Department of Finance: Tax Code (19 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 311, 344 and 345 together. Where a person is in receipt of the State pension from the Department of Social Protection (DSP) and has an additional source of income such as an occupational pension, the mechanism used to tax payments from the DSP, is by reducing the person’s annual tax credits and rate band by the annual amount of their DSP...

Written Answers — Department of Finance: Tax Exemptions (19 Jan 2022)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply.  In general, the EU VAT Directive provides that supplies of goods and services are chargeable to VAT at the standard rate. I am advised by Revenue that, in general, the supply of rights to a phone mast by a VAT-taxable person is a taxable event and subject to the standard rate of...

Written Answers — Department of Finance: Banking Sector (19 Jan 2022)

Paschal Donohoe: Many retail banks do have dedicated phone lines and priority services which were established to assist older and more vulnerable customers during the COVID-19 crisis.  While the creation of dedicated phone lines/desks in branches remains a commercial decision for each regulated entity, both the Central Bank and I expect all regulated firms to take a consumer-focused approach and to...