Results 7,181-7,200 of 32,610 for speaker:Paschal Donohoe

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: In the initial phase of the application of SEAR, it will be credit institutions; insurance undertakings; investment firms which underwrite on a firm commitment basis and-or deal on their own account and-or are authorised to hold client moneys and assets; and third country branches of the aforementioned entities. On the entities that could be brought into SEAR in the future, the main ones are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: I am not sufficiently informed on that issue to give the kind of answer to it that you deserve. After the meeting, I will consult with my officials on the issue and give you a response in writing on it by the end of the week.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: Very shortly, I will bring to the Government a recommendation for a review and reassessment of banking policy for our country, given the many different issues you have just touched on, Chairman. As part of that process, I will invite submissions from different stakeholders to hear their views on the future of Irish banking. To be explicit, will I create a forum to lead to the development of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: I am not going on any tour, Chairman. In Housing for All there is an action step against that to look at what kind of engagement can happen that might lead to more homes being built in Ireland. The reason funds can play a role in the delivery of more homes here in Ireland is that it is a way of channelling savings in other countries into more homes in Ireland, and that is it. As part of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: It will be.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: Did Mr. Lawlor go to the Ombudsman?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: I will get briefed on the circumstances of the individual who appeared before the committee. Of course, I will see what the status of this issue is with the banks, but I have to recognise the fact that the Central Bank has been through this issue and the ombudsman has played a very active role in it and I cannot second-guess or undermine the judgment or views they have reached in respect of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: I can keep on speaking when the Deputy speaks; I am well capable of doing it. It continues to be a source of interest to me that the Deputy makes the briefest of points to me and when I deal with it, the only reaction he can have is to try to shout down my response. The point I made, and continued to make it despite the Deputy shouting at me, is that I am unsure why he should offer the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: First of all, what I outlined earlier on is not a diversionary approach.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Paschal Donohoe: As I said earlier on, it would be my strong preference that we be clear that it would be the individual who would pay the fine. Up to this point and as far as I am aware, it is not possible to legislate for circumstances in which an employer may pay a fine on behalf of an individual. Again, as we take this legislation through the House this is something we can debate further and I am happy...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: I gave a short answer to the Deputy's first question and I will give a short answer to the second one as well. It is a very low share of the total amount of tax that we take in. I accept that it has not been changed for some time and I thank the Deputy for bringing it to my attention.

Ceisteanna Eile - Other Questions: Tax Credits (9 Nov 2021)

Paschal Donohoe: I thank the Deputy. I would be interested in seeing that research if it is possible for the Deputy to give me a copy.

Ceisteanna Eile - Other Questions: Tax Credits (9 Nov 2021)

Paschal Donohoe: The Deputy will be aware there is tax relief available on medical expenses and on many different forms of healthcare. I entirely recognise that for a family looking after a child who has a very high level of medical need, the financial costs involved are exceptional. What the Government tries to do through the supports we make available to that family, through measures in the social welfare...

Ceisteanna Eile - Other Questions: Tax Credits (9 Nov 2021)

Paschal Donohoe: The issue of the funding of the very important services to which Deputy Naughten refers is separate to the operation of this credit. I know the Minister for Public Expenditure and Reform and the Minister for Health did an awful lot of work in the run-up to the recent budget to increase significantly the funding available for many of the services the Deputy has referred to. The Minister,...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: I thank the Deputy for his two questions. That threshold was last changed in section 149 of the Finance Act of 2003. The Deputy will be aware of the operation of the credit. It was set in 2003 and I do not at this point have any plans to change it further, although I am aware of the role it plays in supporting families in the gifts they make from a parent to a child. However, with all of...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: The Deputy is correct that the non-indexation of different thresholds more often than not leads to an increase in tax revenue. As to what has been the change in inflation since the last change was made in 2003, the change in inflation in recent years alone would mean that the real impact of that threshold has now increased, given it has been left unchanged. I cannot at this point give the...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: Yes. An increase to €5,000 would have an approximate cost of €1.1 million.

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: On 8 October, Ireland joined 135 other member jurisdictions of the OECD framework in reaching a two-pillar agreement to address the tax challenges that have arisen from digitalisation. Pillar 1 will see a reallocation of a portion of the income of very large companies from source jurisdictions to market jurisdictions. Pillar 2 will introduce a global minimum effective tax rate of 15% on...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: I have the figures here in front of me as well. I am sure I got them from the same place Deputy Boyd Barrett did. He is correct, in the sense that credits and deductions are used, but that is not the same as tax avoidance. That is where we differ. Credit, for example, with regard to recognised research and development is not tax avoidance, it is a legitimate way of the tax code...