Results 9,861-9,880 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Living City Initiative (27 Jan 2021)

Paschal Donohoe: The original Living over the Shop (LOTS) scheme was part of a suite of capital allowance schemes which have now terminated and, in relation to this particular scheme, relief is not available for any capital expenditure incurred after 31 July 2008. The incentive was introduced in 2001 in the five city boroughs of Cork, Dublin, Galway, Limerick and Waterford. It provided relief of 100 per cent...

Written Answers — Department of Finance: Banking Sector Data (27 Jan 2021)

Paschal Donohoe: The Financial Institutions ("Bank") Levy was introduced for the three-year period 2014 to 2016 in Finance (No.2) Act 2013 with the purpose of enabling the banking sector to contribute to economic recovery. The annual yield of this levy is approximately €150 million. In Finance Act 2016 my predecessor, Minister Michael Noonan, extended the bank levy to 2021, with a rolling series...

Written Answers — Department of Finance: Corporation Tax (27 Jan 2021)

Paschal Donohoe: As the Deputy may be aware, on 14 January I published an Update to Ireland’s 2018 Corporation Tax Roadmap. The Update demonstrates that Ireland has a proven track record of taking significant actions to prevent aggressive tax planning. Appendix 1 of the Update outlines 20 corporation tax reforms that Ireland has implemented since 2013, showing an extensive and continuing programme of...

Written Answers — Department of Finance: Tax Avoidance (27 Jan 2021)

Paschal Donohoe: Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The purpose of the REIT regime is to allow for a collective investment vehicle which provides a comparable after-tax return to investors to direct investment in rental property, by eliminating the double layer of taxation at corporate and shareholder level which would otherwise apply....

Written Answers — Department of Finance: Tax Avoidance (27 Jan 2021)

Paschal Donohoe: As part of Finance Act 2019, I introduced Anti-Hybrid rules in accordance with our obligations under the EU Anti-Tax Avoidance Directives or “ATAD”. The ATAD Anti-Hybrid rules have applied to all corporate taxpayers with effect from 1 January 2020. They are intended to prevent arrangements that exploit differences in the tax treatment of an instrument or entity under the tax...

Written Answers — Department of Finance: Local Authority Funding (27 Jan 2021)

Paschal Donohoe: I can advise the Deputy that my Department does not have a direct role in funding local authorities.

Written Answers — Department of Finance: Value Added Tax (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 216, 217 and 233 together. I am advised by Revenue that under the Protocol on Ireland and Northern Ireland, Northern Ireland will continue to apply and adhere to EU rules in relation to trade in goods with the result that there are no customs formalities, including customs declarations or payment of tariffs, on trade between Ireland and Northern Ireland. In...

Written Answers — Department of Finance: Vehicle Registration Tax (27 Jan 2021)

Paschal Donohoe: Section 130 of the Finance Act 1992 (as amended by Section 102 of the Finance Act 2010) introduced, from 1 January 2011, a revised classification system for the assessment of VRT which reflects the categories used for classification of vehicles at European level under various EC Directives. Passenger Vehicles (EU Category M) and Commercial Vehicles (EU Category N) are classified based on the...

Written Answers — Department of Finance: Value Added Tax (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 222, 230 and 234 together. I do not plan on extending the temporary reduction from 23% to 21% in the standard rate of VAT beyond the end of February. In terms of estimating the cost of such a measure, Revenue provides a ‘Ready Reckoner’ on its website at link; . that facilitates the estimation of the yield or cost of potential changes to the...

Written Answers — Department of Finance: National Debt (27 Jan 2021)

Paschal Donohoe: The tables below presents principal receipts and payments figures in respect of the National Debt for the years 2000 to 2019, as well as provisional, unaudited figures for 2020. The tables also present the net borrowing / repayment position for each of those years. Both the receipts and payments figures represent the gross value of borrowing activity, including the rollover of debt and...

Written Answers — Department of Finance: Tax Code (27 Jan 2021)

Paschal Donohoe: I am advised by Revenue that the use of land for the breeding of racehorses, hunters etc., on a commercial basis, is regarded as a farming activity for tax purposes with any net profits liable to income tax or corporation tax, as the case may be. There is no specific income tax relief available for racehorses in training. However, in certain circumstances horse racing can be treated as a...

Written Answers — Department of Finance: Natural Heritage Areas (27 Jan 2021)

Paschal Donohoe: The Deputy will be aware that I, as Minister for Finance, have no role in respect of NAMA’s commercial operations or transactions. In the case of the land referenced, I am advised that NAMA has never held an interest in this specific area of Inchydoney and so cannot advise on the matter raised by the Deputy. The Deputy is advised that NAMA has a dedicated email address for queries...

Written Answers — Department of Finance: Primary Medical Certificates (27 Jan 2021)

Paschal Donohoe: Following approval of the Finance Act 2020, which provides for the medical criteria for the Disabled Drivers Scheme, the HSE has been informed that medical assessments can recommence from 1stJanuary 2021. This is considered to be an interim solution only. A comprehensive review of the scheme, to include a broader review of mobility supports for persons with disabilities, will be conducted...

Written Answers — Department of Finance: Banking Sector Data (27 Jan 2021)

Paschal Donohoe: Neither I, as Minister for Finance, nor the Central Bank of Ireland can direct an institution as to what commercial decisions it can and cannot take, provided that the institution complies with all applicable legal and regulatory obligations pertaining to its authorisation to provide financial products and services. Therefore, the decision by an institution to provide or restrict money...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jan 2021)

Paschal Donohoe: Revenue has published detailed statistics on the main COVID-19 subsidy schemes since late March 2020, including the Temporary Wage Subsidy Scheme (TWSS), the Employment Wage Subsidy Scheme (EWSS) and the Covid Restrictions Support Scheme (CRSS). These statistics are available at link; and are updated on a weekly basis at the same link. The CRSS statistics (CRSS-Table 2) show the available...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jan 2021)

Paschal Donohoe: I wish to advise the Deputy that my Department has no responsibility or remit for issuing financial supports to drink wholesalers. I understand this matter falls to my Ministerial colleague in the Department of Enterprise Trade and Employment.

Written Answers — Department of Finance: Tax Code (27 Jan 2021)

Paschal Donohoe: I am advised by Revenue that concessional treatment has been agreed in relation to the operation of the benefit-in-kind (BIK) tax charge on employer-provided vehicles during the course of COVID-19 related travel restrictions. Therefore, where an employer provided vehicle is made available to an employee the following will apply for the time being: (a) Employer Takes Back Possession of the...

Written Answers — Department of Finance: Covid-19 Pandemic (27 Jan 2021)

Paschal Donohoe: My Department's Budget 2021 was framed on the continued presence of the virus in Ireland into 2021. It was prepared against a background of extraordinary uncertainty regarding near-term economic and budgetary prospects. As a result, Budget 2021 was exclusively focused on 2021; to look any further would not seem realistic in the circumstances. It did however, allow for additional contingency...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (27 Jan 2021)

Paschal Donohoe: The Home Renovation Incentive (HRI) was introduced by Section 477B of the Taxes Consolidation Act 1997 in 2014 and was terminated in accordance with its statutory sunset clause on 31 December 2018 having been extended twice before that and having been seen to have met its original objective viz. support for job creation in the construction sector in the wake of the financial crisis. An...

Written Answers — Department of Finance: Disability Act Employment Targets (27 Jan 2021)

Paschal Donohoe: I wish to advise the Deputy during 2015, 2016, 2017, 2018 and 2019 the Department satisfied the 3% target of employing staff with disabilities and the Department is aware of the increase in the targets to 6% to be achieved by 2024 and is committed to achieving this revised target. The following table sets out the percentage of employees with a disability for the years 2015 to 2019. Disability...