Results 781-800 of 33,848 for speaker:Paschal Donohoe

Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025: Committee and Remaining Stages (25 Jun 2025)

Paschal Donohoe: I will deal with the amendment first and then respond to some of the points that Deputy Doherty made. The local property tax is an important part of our tax system, which has raised more than €6 billion in revenue since it was introduced in 2013. It has provided vital funding for our local government and local services. The Report of the Commission on Taxation and Welfare, published...

Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025: Committee and Remaining Stages (25 Jun 2025)

Paschal Donohoe: The option is also open to people to pay weekly as opposed to paying it off in a single go. On the choices that are there, to deal with the options put forward by Deputy Doherty, we differ and we will do so respectfully much of the time. On the point he made about the third rate of income tax, the third rate of income tax would be a rate of income tax that we would charge to people who...

Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025: Committee and Remaining Stages (25 Jun 2025)

Paschal Donohoe: I thank the Deputy for raising this matter. I thank Deputies, despite the varying views on the legislation, for the opportunity to take the Bill through the Dáil this evening. A six-year exemption from local property tax, LPT, applies to certain properties that have been affected by the use of defective concrete blocks in their construction. The 2021 LPT Act provided that...

Gnó na Dála - Business of Dáil (25 Jun 2025)

Paschal Donohoe: Cathaoirleach Gníomhach, given this is important legislation and it is happening a little earlier in the evening than might have been anticipated, and in fairness to the Opposition TDs who want to speak on it, if you would be agreeable, could we perhaps suspend to allow them to be here? That is unless Deputy Clarke is dealing with this.

Written Answers — Department of Finance: National Asset Management Agency (25 Jun 2025)

Paschal Donohoe: I wish to advise the Deputy that, as recently published in the 2024 NAMA Financial Statements, 75 employees assigned to NAMA are expected to leave via the redundancy programme for employees assigned to NAMA. Of the two other remaining employees assigned to NAMA, one will be assigned in the first instance to the NTMA Resolution Unit. The other is the current NAMA CEO, in respect of whom...

Written Answers — Department of Finance: National Asset Management Agency (25 Jun 2025)

Paschal Donohoe: I wish to advise the Deputy that NAMA acquired impaired loans with a par debt of €74 billion. In return, the banks received consideration of €32 billion, 95% of which was government-guaranteed senior debt issued to the financial institutions and therefore a contingent liability for Irish taxpayers. The table below sets out the requested information. Since its establishment in...

Written Answers — Department of Finance: Central Bank of Ireland (25 Jun 2025)

Paschal Donohoe: I propose to take Questions Nos. 47 and 48 together. The Minister of Finance is not involved in operational matters of the Bank, however, having consulted with the Central Bank of Ireland my officials inform me that the Central Bank operate a specific risk based approach for prospectus supervision. Generally under the Central Bank's current risk based approach, all prospectuses for...

Written Answers — Department of Finance: Central Bank of Ireland (25 Jun 2025)

Paschal Donohoe: The Central Bank of Ireland has provided me with the following information on the matter. The Central Bank of Ireland’s Quarterly Bulletin is released under embargo by the Bank’s media relations team to members of the media in advance of publication. They do not have a set list of the recipients, as each publication that is released under embargo is reviewed in advance on a...

Written Answers — Department of Finance: Tax Data (25 Jun 2025)

Paschal Donohoe: I am advised by Revenue that the Irish VAT law is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. Under the Directive, VAT registered traders and certain other entities have a range of administrative obligations that concern the payment of VAT, VAT identification, invoicing, accounting for VAT, filing of VAT returns, and VAT recapitulative...

Written Answers — Department of Finance: Departmental Programmes (25 Jun 2025)

Paschal Donohoe: I propose to take Questions Nos. 51 and 52 together. The Key Employee Engagement Programme (KEEP) was introduced by Finance Act 2017 and commenced on 1 January 2018, via section 128F of the Taxes Consolidation Act (“TCA”) 1997. The aim of the scheme is to support SMEs in Ireland in competing with larger enterprises to recruit and retain key employees, by way of a targeted...

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: I thank the Cathaoirleach and members for the opportunity to be here today, with the Minister, Deputy Chambers, to discuss the annual progress report for 2025. I offer my congratulations to Deputies O'Donoghue and Timmins on their election as Cathaoirleach and Leas-Chathaoirleach, respectively, of this very important committee. By way of background, the publication of the annual progress...

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: I will get the ball rolling. The Deputy asked about the scenarios and the impact on the job market. The Minister for public expenditure is doing a lot of work on the impact of our infrastructure plan on creating an environment in which more homes can be built. On tariffs, we modelled on the basis of a 10% rate between the EU and the US. Since then, we have seen figures that are a lot...

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: Much of that will have to do with refinancing government debt. We financed a large amount of government debt at moments in which interest debt were very low. The Deputy is aware of all of the changes in interest rates across the world in the past year or 18 months in particular. We assume then that the interest rate at which we will refinance existing debt will be higher. That is why it...

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: In terms of last year, 2024?

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: We underperformed by €1 billion.

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: Again, when we exclude the one-off Apple payments, we are behind profile on our corporate tax receipts. I will give the Deputy the exact figure later in our exchange.

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: Yes, that is what we expect at the moment. That is based on assumptions regarding how much of our corporate tax receipts could be at risk in any one given year. The reason that underlying deficit will be going up next year is driven by an increase in planned capital expenditure, which is the right thing to do for our economy, and a reasonably moderate level of planned current expenditure...

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: That 5.1% came from the budget submission we made. That is the expenditure ceiling we agree for the budget. We then issue that to the European Commission. That happened last year in the context of the medium-term fiscal plan. That figure comes from us. That 5.1% includes a provision in particular within current spending for population growth.

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: That is correct. Each country will have a different figure, based on their national budget submission.

Committee on Budgetary Oversight: Annual Progress Report 2025: Discussion (24 Jun 2025)

Paschal Donohoe: Yes.