Results 6,461-6,480 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 113, 159, 249 and 250 together. 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...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 114 and 132 together. The rate of Residential Zoned Land Tax is set at 3% on its commencement in 2024. I have chosen this rate as I believe great care needs to be taken to get the balance right between it achieving its essential purpose of encouraging the release of land for housebuilding purposes, but at the same time not being too penal, so that it runs...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Dec 2021)

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 monetary terms, the overall support provided to-date (9th December) by...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

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 motor fuel, specifically petrol and diesel, is liable to VAT at the standard rate, currently 23%. The Deputy should also note that petrol and diesel are treated...

Written Answers — Department of Finance: Vehicle Registration Tax (16 Dec 2021)

Paschal Donohoe: The 2020 Finance Act overhauled the structure of rates for vehicle registration tax (VRT) to strengthen the environmental rationale of the tax in line with Government policy to radically reduce emissions from road transport. The rate changes provided for in the Finance Bill 2021 reinforce this progress by increasing the fiscal gap between low emission vehicles and the rest, thus incentivising...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: As the Deputy may recall, I previously asked my Department to undertake a comprehensive study of all aspects of the 9% VAT rate ahead of Budget 2019. The “Review of the 9% VAT rate: Analysis of Economic and Sectoral Developments” was published by my Department in July 2018, in order to better inform any decision in relation to the 9% reduced rate going forward. In addition to...

Written Answers — Department of Finance: Credit Unions (16 Dec 2021)

Paschal Donohoe: The Programme for Government includes a number of commitments in relation to the credit union sector. As part of the Review of the Policy Framework, Minister Fleming conducted extensive stakeholder engagement, meeting with the representative bodies, collaborative ventures, service providers, the Credit Union Advisory Committee, the Registrar of Credit Unions and individual credit unions. The...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: Where a person is allowed the free use of property, section 40 of the Capital Acquisitions Tax Consolidation Act 2003 provides that the person has taken a gift in each year that they have that free use. The value of the gift is calculated by reference to the difference between any consideration paid by the beneficiary for the use of the property and the “best price obtainable in the...

Written Answers — Department of Finance: Economic Growth (16 Dec 2021)

Paschal Donohoe: Due to the success of our vaccination programme earlier this year, restrictions were eased with the domestic economy recovering strongly as a result. Modified Domestic Demand (MDD) – the best measure of domestic economic activity now exceeds the level immediately preceding the pandemic (2019-Q4) by around 3 per cent. Improvements can also be seen in the labour market with the...

Written Answers — Department of Finance: Tax Reliefs (16 Dec 2021)

Paschal Donohoe: The Programme for Government includes a commitment to facilitate and support remote working. The National Remote Work Strategy aims to make remote work a permanent feature of the Irish working experience in a way that maximises the economic, social and environmental benefits. As part of the national remote working strategy: Making Remote Work, the Tax Strategy Group (TSG) reviewed the...

Written Answers — Department of Finance: Tax Reliefs (16 Dec 2021)

Paschal Donohoe: The present position is that agricultural contractors are not entitled to avail of relief from increases in the carbon tax on farm diesel under section 664A of the Taxes Consolidation Act 1997. This is because farming, which is defined in section 654 of the Taxes Consolidation Act, requires the occupation of farmland. Agricultural contracting does not involve the occupation of farmland. The...

Written Answers — Department of Finance: Banking Sector (16 Dec 2021)

Paschal Donohoe: I have engaged regularly with Ulster Bank and its parent company NatWest in relation to its planned exit from the Irish market. On 22 September, I met with Alison Rose, CEO of NatWest, Sir Howard Davies, Chair of NatWest, Jane Howard, the CEO of Ulster Bank, and Martin Murphy, the Chair of Ulster Bank, where they updated me on their progress and I emphasised the importance of an orderly...

Written Answers — Department of Finance: Exchequer Returns (16 Dec 2021)

Paschal Donohoe: The November Fiscal Monitor, published by my Department earlier this month, shows the Exchequer performance in the year to date is ahead of profile, with the bulk of over-performance driven by strong tax receipts. I would like to highlight, however, that the profiles in the Fiscal Monitor were based on macroeconomic projections made at the time of the Stability Programme Update in April,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 127, 134, 137, 144, 161, 165 and 167 together. I am advised by Revenue that the number of employers and employees currently being supported by the Employment Wage Subsidy Scheme (EWSS) is as provided in the table below. This reflects payslips filed with Revenue by employers for November 2021, the most recent month for which complete data exists. In respect of...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: On 8 October this year, the OECD/G20 Inclusive Framework on BEPS agreed a two-pillar solution to address tax challenges arising from the digitalisation of the economy. Pillar Two sets out rules, known as the Global anti-Base Erosion (“GloBE”) rules, which will apply a global minimum effective tax rate to multinationals with a global turnover of at least €750 million...

Written Answers — Department of Finance: Insurance Coverage (16 Dec 2021)

Paschal Donohoe: I note that the questions refers to difficulties accessing life insurance for individuals with eating disorders. With regard to applications for life insurance, it is my understanding that generally, insurers use a combination of rating factors in making their individual decisions on whether to offer cover and what terms to apply. These can include age; health; family medical history;...

Written Answers — Department of Finance: Tax Reliefs (16 Dec 2021)

Paschal Donohoe: 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 employment of profit. Section 112 of the TCA 1997 brings into charge all salaries, fees, wages, perquisites or profits whatever arising from an office or employment. Therefore, all tips, gratuities and service charges arising from an office or...

Written Answers — Department of Finance: Credit Unions (16 Dec 2021)

Paschal Donohoe: I thank the Deputy for his question. Work on the credit union policy review is now at an advanced stage. Since the review began, the Department has held extensive engagement with the credit union representative bodies to seek their feedback. The Minister of State, Sean Fleming TD, has met with a wide range of credit union stakeholders to gain further insights into areas such as...

Written Answers — Department of Finance: Credit Unions (16 Dec 2021)

Paschal Donohoe: Minister Fleming, Minister of State with responsibility for credit unions, last met with the Central Bank in November. This meeting afforded him the opportunity to gain feedback on regulatory issues. Legislative or regulatory amendments alone will not solve the financial challenges arising from the low/negative interest rate environment, muted credit demand, strong savings growth, and...

Written Answers — Department of Finance: Tax Yield (16 Dec 2021)

Paschal Donohoe: The 2021 Climate Action Plan and the Programme for Government set out ambitious commitments for emissions reductions. Road transport is a sector earmarked for radical decarbonisation, and motor vehicle taxation is an important policy lever in achieving these goals. A significant uptake in electric vehicles (EVs) forms a key part of targets on emissions reductions from road transport, and the...