Results 10,041-10,060 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Motor Insurance (15 Dec 2020)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance (the Solvency II Directive) which expressly prohibits Member States from...

Written Answers — Department of Finance: State Claims Agency (15 Dec 2020)

Paschal Donohoe: The State Claims Agency has prepared the below table in response to the information requested by the Deputy. The information in the table details the total amount paid from 01/01/2018 to 30/11/2020 across Damages, Legal and Expert costs in respect of non-medical negligence claims. Transaction Bucket 2018 2019 2020 (to End Nov) Grand Total ...

Written Answers — Department of Finance: Vehicle Registration Tax (15 Dec 2020)

Paschal Donohoe: I am advised by Revenue that used vehicles brought into the State and previously registered using the CO2format known as NEDC will, from 01 January 2021, be registered based on the NEDC CO2figure declared on the vehicle registration document issued in the previous jurisdiction with an added calculation to bring that CO2figure in line with emissions under the WLTP, which was introduced for new...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Dec 2020)

Paschal Donohoe: The Financial Provisions (Covid-19) (2) Act 2020 (Act No. 8 of 2020) inserted section 28B into the Emergency Measures in the Public Interest (Covid-19) Act 2020. This provides for the introduction of the Employment Wage Subsidy scheme (EWSS). The Deputy will be aware that EWSS is an economy-wide enterprise support that focuses primarily on business eligibility. The scheme provides a flat-rate...

Written Answers — Department of Finance: Brexit Issues (15 Dec 2020)

Paschal Donohoe: I am advised by Revenue that used cars imported from the UK (not including Northern Ireland) post 1 January 2021 will be liable to Customs Duty and VAT on importation and Vehicle Registration Tax at the point of registration of the car.

Written Answers — Department of Finance: Personal Contract Plans (15 Dec 2020)

Paschal Donohoe: As part of the review of the regulation of Personal Contracts Plans (PCPs), which I commissioned in 2018, Mr Michael Tutty produced a report entitled 'Review of the Regulation of PCPs' (available at: /). The Tutty Report set out a number of conclusions and recommendations in relation to PCP agreements and, in particular, it recommended that the provisions of the Central Bank Consumer...

Written Answers — Department of Finance: Banking Sector (15 Dec 2020)

Paschal Donohoe: The revised Payment Services Directive (PSD2) of 2015 introduced strong security requirements for the initiation and processing of electronic payments, which apply to all payment service providers (PSPs). This approach is intended to reduce the risk of fraud for all types of electronic payments (especially online payments) and to protect the confidentiality of the user’s financial...

Written Answers — Department of Finance: Covid-19 Pandemic Unemployment Payment (15 Dec 2020)

Paschal Donohoe: Payments made under the Pandemic Unemployment Payment (PUP) are income supports and share the characteristics of income. The PUP follows the general taxation rule for social welfare type payments and, thus, is chargeable to income tax, but exempt from the USC and PRSI charges. This will be the case whether, prior to receipt of the PUP, the recipient was a PAYE worker or a self-employed...

Written Answers — Department of Finance: Covid-19 Pandemic (15 Dec 2020)

Paschal Donohoe: I understand that the Deputy is referring to the accelerated loss relief provisions that I introduced earlier this year to assist companies and self-employed individuals that have been adversely impacted by the COVID-19 pandemic and related restrictions. I understand that the anomaly suggested by the Deputy does not arise and that Revenue has confirmed the position in its published guidance....

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 Dec 2020)

Paschal Donohoe: I propose to take Questions Nos. 233 and 239 together. 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. It applies to businesses who, under the specific terms of the regulations, are required to prohibit or significantly restrict members of the...

Written Answers — Department of Finance: Covid-19 Pandemic (10 Dec 2020)

Paschal Donohoe: I am conscious that, despite the fact that our economy is now reopening, many borrowers continue to be impacted by the economic consequences of Covid-19, and may not be in a position to resume their loan repayment commitments when their payment break ends or may be in difficulty now for the first time.  I am fully aware of the stress and uncertainty that these borrowers are...

Written Answers — Department of Finance: Departmental Expenditure (10 Dec 2020)

Paschal Donohoe: I wish to advise the Deputy that professional fees are paid by this Department on behalf of employees. However, some of the fees are recouped by the Department from the employees and BIK is paid on professional fees where applicable. Under the Finance Act, 2011, the Department is obliged to make statutory deductions (Benefit in Kind) such as PAYE, PRSI etc., on the payment/reimbursement of...

Written Answers — Department of Finance: Value Added Tax (10 Dec 2020)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply.  In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates of VAT. Ireland, in line...

Written Answers — Department of Finance: Tax Code (10 Dec 2020)

Paschal Donohoe: I would like to advise the Deputy that the suggestion that section 127B of the Taxes Consolidation Act (TCA), 1997 is not in compliance with international law or international tax principles is inaccurate and appears to be based on a misunderstanding of a number of matters including Ireland’s sovereign right to tax activity in domestic legislation, how relief may be given under...

Written Answers — Department of Finance: Tax Data (10 Dec 2020)

Paschal Donohoe: I am informed by Revenue that income tax liability is calculated on taxpayers’ total income from all sources, rather than being separately calculated for each source of income (such as rental income). For this reason, it is not possible to identify tax paid arising from rental income alone. However, the Deputy may be interested to note the publications at the following link, which...

Written Answers — Department of Finance: European Stability Mechanism (10 Dec 2020)

Paschal Donohoe: The Department is satisfied that the State can enter into the treaty to amend the ESM Treaty without submitting it to a referendum.  The legal advice received by the Department in relation to this, and all other matters, is privileged.

Written Answers — Department of Finance: Covid-19 Pandemic (9 Dec 2020)

Paschal Donohoe: The Deputy will be aware that my officials and I have engaged and will continue to engage extensively with the Banking and Payments Federation (BPFI) and the banks directly in relation to supports for personal and business customers affected by the COVID-19 pandemic. Officials in the Department are alert to issues raised directly by the public and these inform the Department’s ongoing...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Dec 2020)

Paschal Donohoe: I propose to take Questions Nos. 57 and 58 together. 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. It applies to businesses who, under the specific terms of the regulations, are required to prohibit or significantly restrict members of the public...

Written Answers — Department of Finance: Brexit Preparations (9 Dec 2020)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses, including in the bloodstock industry, leisure, hospitality and professional indemnity sectors.  This position is reinforced by the EU...

Written Answers — Department of Finance: Tax Code (9 Dec 2020)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is the overall title for both gift and inheritance tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. CAT at a rate of 33% applies on the excess over the tax-free threshold. There are three separate Group thresholds based on the relationship of the beneficiary to the disponer. Group Athreshold...