Results 8,061-8,080 of 32,643 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Schemes (15 Jul 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with obtaining the deposit they need to buy or build a new house or apartment. The scheme 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. An increase in the supply of new housing is fundamental to...

Written Answers — Department of Finance: Departmental Data (15 Jul 2021)

Paschal Donohoe: I wish to advise the Deputy that at 12 July 2021, my Department had the following number of staff in the following locations: - 14/16 Merrion St –72 - Miesian Plaza, Baggot St –49 - Government Buildings, North Block –13 - Government Buildings, South Block –184 - Unit 2, Central Business Park, Clonminch Rd, Tullamore–17 A detailed breakdown by grade is...

Written Answers — Department of Finance: Tax Code (15 Jul 2021)

Paschal Donohoe: It is assumed that the Deputy is referring to the proposal by the Chairperson of the Tax Appeals Commission (TAC) for a new tiered structure of Appeal Commissioners. I am conscious that an effective, transparent and fair tax appeals system for taxpayers is an essential aspect of any tax system, and therefore it is important to ensure that the Commission is provided with the appropriate...

Written Answers — Department of Finance: Tax Appeals Commission (15 Jul 2021)

Paschal Donohoe: In response to the Deputy’s question the following tables provide an outline of the number of appeals received and closed from 2016 to the end of June 2021 and the reason why each appeal was closed: Appeals Received and Closed from 2016 to June 2021 Year No. of Appeals Received No. of Appeals Closed 2016 2,357 206 ...

Written Answers — Department of Finance: Tax Appeals Commission (15 Jul 2021)

Paschal Donohoe: I am advised by Revenue that it is not in a position to provide the information requested by the Deputy as the data requested is not captured in a form that is readily accessible. Revenue obtains the information relating to the amount of tax that is ‘held under appeal’ from its IT systems. Outstanding tax liabilities are automatically identified by the presence of an appeal stop...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Jul 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable...

Written Answers — Department of Finance: Tax Collection (15 Jul 2021)

Paschal Donohoe: In the context of my reply to the Deputy's priority question regarding the Vacant Site Levy of 15 June 2021 (question number 32046/21) I indicated that I am giving consideration to the future of the Vacant Site Levy, its role and whether there is a case for it to be strengthened. On that occasion the Deputy mentioned a suggestion from a legal practitioner as to how to enhance the operation...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: I thank the committee for the invitation to appear here today to discuss the summer economic statement. I will focus on the current economic and fiscal outlook, and I look forward to hearing the committee’s views regarding some of the key issues in the medium term. After a difficult and unprecedented 16 months, we are beginning to see light at the end of the tunnel. The vaccination...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: There are two advantages that I think are very important. First, the massively changed levels of skill, productivity and education in our economy and society in recent decades have had a gigantic influence on our ability to attract and retain foreign direct investment and to grow good businesses at home. Second, Ireland's place in the European Union post Brexit, our position as full members...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: That is a fair point. I would offer two points in response. Regarding energy and homes, as the Deputy will be aware, there is an extensive array of grants available through the Sustainable Energy Authority of Ireland to help with the affordability of the things needed to retrofit homes. The Deputy makes a fair point that in order to gain tax relief, people have to be in a position to pay...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: As regards the Deputy's first question about the revenue forecasts, the forecast we had began with a €500 million loss in 2022, building up by €500 million per year out to 2025. What has changed in these forecasts is that we are moving that to 2023, with €500 million lost at that point and not before. We are not in a position to revise our revenue forecasts as to what...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: I thank the Deputy for his question. I am well aware of the responsibility that is on my shoulders as I deal with this critical issue on behalf of our country. The Deputy cannot have it both ways. He cannot question my commitment to where I will be on the rate in the future and then infer that the commitment is not there when I am willing to step outside of the current consensus. My...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: Before we hand over to the Minister for Public Expenditure and Reform to answer the question on the allocation of expenditure, I again remind the Deputy that I am engaged in a negotiation. My commitment to securing our rate and protecting it under our tax code is attested to by my unwillingness to sign up to the consensus that is there at the moment. That is proof of my commitment to where...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: I thank Deputy Durkan for his question. There is an appreciation within the European Union regarding the competitive challenges Ireland faces given our location and size. That feeds into the recognition and protection we have been able to deliver for our rate within the European Union. Therefore, that is there, but it is also the case there are other countries that have higher rates that...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: I thank the Deputy for his question. Ireland has a low nominal rate of corporation tax. Critically, however, that rate is applied across a very wide base of economic activity in our country and there is very little difference between our nominal rate and the rate at which companies actually pay. As the Deputy knows, the information released by the Revenue Commissioners shows we have an...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: With regard to the Deputy's point about gross profits, companies pay tax on what they earn after expenses are deducted. To use the issue of gross taxes, the Deputy knows well is wrong. You pay tax on your total level of profitability minus your expenses and you then pay tax on that, as the Deputy well knows. The information I am referring to-----

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: -----is information that is available through the Revenue Commissioners. We have discussed this in different finance Bills. I do not have it to hand at present but it is publicly available and it shows that the effective rate of tax varies between 10% and 11%. With regard to the Deputy's point regarding certainty or uncertainty, the agreement currently on the table does not offer...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: In the plans we have, the significant majority of resources are going into the increasing of expenditure. As the Minister, Deputy McGrath, outlined in his presentation, both current and capital expenditure, but especially capital expenditure, are due to increase significantly across the coming period. With regard to taxation, the Deputy is the biggest tax cutter in the house. He wants to...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: I thank the Deputy very much. When I published the stability programme update, I made very clear it was published on a no policy change basis. Nothing has changed from a process point of view. On a number of occasions, in Oireachtas appearances and in the media, I made it clear I expected our borrowing requirement to increase. In conjunction with the Minister, Deputy McGrath, we have...