Results 10,181-10,200 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (2 Dec 2020)

Paschal Donohoe: The purpose of the Stay and Spend tax credit is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions.  It provides relief direct to the consumer rather than the business and, as such, it would not be practicable to redirect the relief to the industry. As a demand led scheme,...

Written Answers — Department of Finance: Covid-19 Pandemic Unemployment Payment (2 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 Supports (2 Dec 2020)

Paschal Donohoe: I assume 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. Dealing with income taxfirst, section 10 of the Financial Provisions (Covid-19) (No. 2) Act 2020 introduced a new Chapter 2A ‘Income tax:...

Written Answers — Department of Finance: Brexit Issues (2 Dec 2020)

Paschal Donohoe: For the purposes of section 64 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020 the calculation of the €75 minimum expenditure is based on invoice value. A person’s total purchases from a single supplier must be greater than €75 to qualify under the scheme. The aggregate value of several goods may be used only if all...

Written Answers — Department of Finance: Tax Data (2 Dec 2020)

Paschal Donohoe: I propose to take Questions Nos. 51 and 52 together. In relation to question 40711, I am advised by Revenue that tax returns do not separately identify the amount of royalty payments leaving the State for non-EU countries. Furthermore, if Irish tax legislation was amended to provide for a minimum withholding tax on all royalty payments leaving the State for a non-EU country, this would...

Written Answers — Department of Finance: Ireland Strategic Investment Fund (1 Dec 2020)

Paschal Donohoe: The Ireland Strategic Investment Fund (ISIF) has informed me that many of the questions raised by the Deputy are commercial matters relating to Activate Capital, therefore it is not appropriate for me to comment on them as Minister for Finance. However, I am happy to say that the ISIF has committed €450m to Activate Capital, a senior lending platform which funds residential development...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Dec 2020)

Paschal Donohoe: I propose to take Questions Nos. 202, 213, 214, 216 and 238 together. The Covid Restrictions Support Scheme (CRSS) was announced in the Budget on 13 October 2020. The details are set out in Finance Bill 2020 and guidelines on the operation of the scheme, including the eligibility criteria, are available on the Revenue website: (www.revenue.ie/en/corporate/press-office/budget-information...

Written Answers — Department of Finance: Drug Seizures (1 Dec 2020)

Paschal Donohoe: I am advised by Revenue that, under the Criminal Justice (Psychoactive Substances) Act 2010, it has the power to detain and seize psychoactive substances, even where that substance is not prohibited, if it has reasonable grounds for believing that it will not be used for legitimate purposes and is intended for human consumption. The Criminal Justice (Psychoactive Substances) Act, 2010 is...

Written Answers — Department of Finance: Tax Code (1 Dec 2020)

Paschal Donohoe: Section 127B of the Taxes Consolidation Act (TCA), 1997 provides that income arising to an individual from an employment exercised aboard an aircraft that is operated in international traffic shall be chargeable to tax in Ireland where the aircraft is operated by an enterprise that has its place of effective management in the State. This charge to Irish tax applies to such workers in...

Written Answers — Department of Finance: Company Liquidations (1 Dec 2020)

Paschal Donohoe: The Deputy will be aware that under Section 851A of the Taxes Consolidation Act 1997, Revenue is precluded by reason of its taxpayer confidentiality obligations, from providing any details in relation to the company in question. Therefore, I am unable to provide the data requested.

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman (1 Dec 2020)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. I am advised that where a complaint is made to the FSPO concerning a joint account or a joint policy, the FSPO must recognise that all parties to the...

Written Answers — Department of Finance: Tax Code (1 Dec 2020)

Paschal Donohoe: I am informed by Revenue that for inheritance tax purposes, the relationship between the deceased person (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which inheritance tax does not arise. The Group A threshold (currently €335,000) applies, inter alia,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Dec 2020)

Paschal Donohoe: As the Deputy will appreciate, the operation of support measures for third level students is a matter for the Minister for Further and Higher Education, Research, Innovation and Science. Generally speaking, all payments to individuals are taxable in the hands of the recipient unless specifically exempted. However, the basis on which the payment is made is a determining factor in the...

Written Answers — Department of Finance: Value Added Tax (1 Dec 2020)

Paschal Donohoe: The Retail Export Scheme enables visitors that are resident outside the EU benefit from VAT relief on goods purchased in Ireland and subsequently taken outside of the EU. Under existing rules, when the UK becomes a third country, visitors from Britain will be able to avail of the scheme. No minimum threshold currently applies in respect of expenditure on which VAT relief may be claimed. ...

Written Answers — Department of Finance: Student Assistance Fund (1 Dec 2020)

Paschal Donohoe: As the Deputy will appreciate, the operation of support measures for third level students is a matter for the Minister for Further and Higher Education, Research, Innovation and Science. However, I understand that the Deputy's question refers to the Student Assistance Fund which, through the HEA and individual institutions, provides financial support to full or part-time students who are...

Written Answers — Department of Finance: Corporation Tax (1 Dec 2020)

Paschal Donohoe: I would like to advise the Deputy that I am not in a position to comment on the activities of individual taxpayers. The examination of accounts and tax returns submitted by taxpayers is a matter for Revenue and, in monitoring tax compliance, Revenue can scrutinise returns received to ensure they comply with legislative provisions. While I cannot comment on a specific taxpayer, I can give...

Written Answers — Department of Finance: Value Added Tax (1 Dec 2020)

Paschal Donohoe: As the Deputy will be aware, the VAT rate applied to Tourism and Hospitality related goods and services has been temporarily reduced from 13.5% to 9%, from 1 November 2020 to 31 December 2021, in recognition of the unprecedented challenges facing the sector. This change will apply to restaurant supplies, tourist accommodation, cinemas, theatres, museums, historic houses, open farms, amusement...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Dec 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which is provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, operated from 26 March 2020 to 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. The scheme was introduced as an emergency measure to provide financial support to businesses that were severely...

Written Answers — Department of Finance: Banking Sector (1 Dec 2020)

Paschal Donohoe: As I outlined to the Deputy on the 3rdNovember, I am aware of the 'Save our Ulster Bank' campaign and I share the concerns outlined in the correspondence. As the Deputy will be aware, I met with representatives of Ulster Bank on the 21 of October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. In particular, I...

Written Answers — Department of Finance: Motor Insurance (1 Dec 2020)

Paschal Donohoe: At the outset it is important to note that neither I, as Minister for Finance, nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products, as this is a commercial matter. This position is reinforced by the EU framework for insurance (the Solvency II Directive) which expressly prohibits Member States from doing so. Consequently, I am not in a position to...