Results 9,621-9,640 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (24 Feb 2021)

Paschal Donohoe: In accordance with the Credit Union Act credit unions need the approval of their members at an AGM to pay dividends. In the rules set by members, not by legislation, most credit unions cannot pay a loan interest rebate without having first approved a dividend. I have been informed by the Central Bank, that in a circular issued to all credit unions recently they set out their...

Written Answers — Department of Finance: Tax Rebates (24 Feb 2021)

Paschal Donohoe: I propose to take Questions Nos. 221 and 222 together. The purpose of the Stay and Spend Tax Credit scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. In order to claim the Stay and Spend Tax Credit, taxpayers are required to upload a copy of their receipt(s)...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Deputy will be aware that Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. It provides a flat-rate subsidy to qualifying employers based on the numbers of paid and eligible employees...

Written Answers — Department of Finance: Departmental Expenditure (24 Feb 2021)

Paschal Donohoe: My Department has incurred no expenditure, nor is it committed to any expenditure under current contracts or agreements, regarding awareness raising campaigns of Covid-19.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme provided the payment of income supports to employers in respect of eligible employees, where the employer’s business activities had experienced significant negative disruption due to the COVID-19 pandemic. The scheme was available to all employers, irrespective of how that employer operates (i.e. limited company, sole trade, partnership etc.)....

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: As the Deputy may be aware the Financial Services Union (FSU) has suggested the establishment of a Banking Forum to consider the future of banking. When I met with the FSU, last December, I outlined that I did not think my Department should participate in the Forum as I was concerned that it would not represent a model of good governance to have competent authorities, such as the...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: I have been briefed on certain discussions and am supportive of trying to bring about an outcome that is good for both AIB and PTSB, the banks referenced in the recent Nat West announcement, but more importantly for Ulster Bank’s customers, staff and the Irish economy generally. The loss of Ulster Bank after so many years is deeply disappointing and will have difficult consequences...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: As the Deputy will be aware, the NatWest Group announced its 2020 Full Year results on Friday, 19th February. As widely expected, NatWest confirmed that it intends withdrawing from the banking sector in the Republic of Ireland and has begun the process of winding down its ROI Ulster Bank business. As part of this process, NatWest confirmed that it is in negotiations with AIB in relation...

Written Answers — Department of Finance: Mortgage Lending (24 Feb 2021)

Paschal Donohoe: There is a significant consumer protection framework in place to protect residential mortgage borrowers and to deal specifically with the maintenance of these protections in the event of a loan transfer. Where a loan is sold or transferred to another regulated entity, the consumer protections that were available to borrowers prior to the transaction continue to be in place with the new...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: I propose to take Questions Nos. 231 and 232 together. The NatWest Group (NatWest) announced its 2020 Full Year results on Friday, 19 February. As widely expected, NatWest confirmed that it intends withdrawing from the banking sector in the Republic of Ireland and gradually wind down its Ulster Bank business. NatWest concluded that Ulster Bank would not be able to achieve an...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was introduced on 26 March 2020 to provide income support to eligible employees where the employer’s business activities were negatively impacted by the COVID-19 pandemic. This scheme ended on 31 August 2020 and was replaced by the Employer Wage Subsidy Scheme (EWSS) from 1 September 2020. The transitional phase of TWSS operated until 3...

Written Answers — Department of Finance: Insurance Industry Regulation (24 Feb 2021)

Paschal Donohoe: At the outset, while I have an appreciation of the specific issue the Deputy raises, neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, as this is a commercial matter. In addition, we cannot compel any insurer operating in the Irish market to provide cover to specific individuals or groups, such as businesses or community service providers. This position...

Written Answers — Department of Finance: Tax Reliefs (18 Feb 2021)

Paschal Donohoe: Where e-workers incur certain extra expenditure in the performance of their duties of employment remotely or from home, such as additional heating and electricity costs, there is a Revenue administrative practice in place that allows an employer to make payments up to €3.20 per day to such employees, subject to certain conditions, without deducting PAYE, PRSI, or USC. Revenue have...

Written Answers — Department of Finance: Economic Policy (18 Feb 2021)

Paschal Donohoe: The interplay between the Covid-19 and Brexit shocks has implications for the economic outlook. In preparation for last year’s Budget, my Department, along with the ESRI, conducted an analysis of the sectoral overlap between the two shocks. The analysis found that the sectors most exposed to both Covid-19 and a ‘disorderly’ Brexit appear to be distinct and relatively...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (18 Feb 2021)

Paschal Donohoe: The 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 to tax under Case I of Schedule D,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (18 Feb 2021)

Paschal Donohoe: The 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 to tax under Case I of Schedule D,...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (18 Feb 2021)

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. Details of these reliefs and the grant in respect of fuel usage are available on the Revenue website at the following link: The relief from Value Added Tax and Vehicle Registration Tax are...

Written Answers — Department of Finance: Banking Sector (18 Feb 2021)

Paschal Donohoe: I propose to take Questions Nos. 93, 97 and 98 together. As the Deputy is aware, as Minister for Finance I have no role in the day to day operations of any bank operating within the State including banks in which the State has a shareholding. I'm precluded from intervening on behalf of any individual customer in any particular bank. Decisions in relation to commercial matters are the sole...

Written Answers — Department of Finance: Departmental Funding (18 Feb 2021)

Paschal Donohoe: Contact details in respect of the Disabled Drivers and Disabled Passengers Fuel Grant Scheme, which is administered by my Department, are in the table below. None of the bodies under the aegis of my Department manage grant funding. Grant Scheme Contact Details Disabled Drivers and Disabled Passengers Fuel Grant Scheme Indirect Tax Policy...

Written Answers — Department of Finance: Covid-19 Pandemic Unemployment Payment (18 Feb 2021)

Paschal Donohoe: The Pandemic Unemployment Payment (PUP) is a social welfare payment for workers who have become unemployed due to the COVID-19 pandemic. PUP payments are classified in legislation as income supports and are subject to income tax. The taxation arrangements for the PUP were legislated for in Finance Act 2020 which reflects the standard approach to taxation of social welfare type payments, which...