Results 10,301-10,320 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware, as Minister for Finance I have no role in the commercial decisions made by the banks, including the structure and level of pricing for their various product offerings for both personal and business customers. This applies equally to the banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Nov 2020)

Paschal Donohoe: I am aware that the general level of lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that rates have been falling. For example, interest rates on new fixed rate mortgages (excluding renegotiations) have fallen from 4.11% in December 2014 to 2.64% in September of this year. ...

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware and as set out in the Relationship Framework for AIB, due to its systemic importance to the Irish financial system, the bank received significant support from the State in the financial crisis. This support led to the State becoming the majority shareholder in AIB with the approval of the European Commission. This approval was subject to the Minister and the Bank...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (26 Nov 2020)

Paschal Donohoe: The Disabled Driver and Disabled Passengers (Tax Concessions) Scheme provides for relief on VAT and VRT, based on how much the car has been adapted and whether the beneficiary is a driver or passenger, up to a maximum of - Disabled drivers: €10,000 - Disabled passengers: €16,000 - Specifically adapted vehicles for drivers with severe disabilities: €16,000 (Specifically...

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: On the 21 October I met with representatives of Ulster Bank. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. In particular, I asked that staff representatives will be consulted and kept informed of developments. I also emphasised the importance of Ulster Bank to the Irish financial services market, to the wider...

Written Answers — Department of Finance: Brexit Supports (26 Nov 2020)

Paschal Donohoe: My Department is participating in whole of Government preparations for the end of the transition period, including in the area of business supports. This includes the measures brought forward through Budget 2021, which is based on a no deal Brexit scenario. In particular, I’d like to highlight the Brexit Loan Scheme and Future Growth Loan Scheme offered by the Strategic Banking...

Written Answers — Department of Finance: Banking Sector Data (26 Nov 2020)

Paschal Donohoe: Officials in my Department requested a comment from the relevant banks in relation to the Deputy’s question and received the following responses in this regard: AIB: “As part of AIB’s sustainability agenda, the bank does not provide term finance or advisory services to entities involved in the extraction of oil and coal, onshore and offshore exploration and natural gas...

Written Answers — Department of Finance: Tax Code (26 Nov 2020)

Paschal Donohoe: I announced in Budget 2021 my intention to publish an update on Ireland’s Corporation Tax Roadmap. The Roadmap, first published in September 2018, marked the progress made to that date in the ongoing process of international corporate tax reform and set out 11 further commitments to action in the areas of tax reform, information exchange and dispute resolution. Two years on from this...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Nov 2020)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. In addition to the conditions laid down in section 477C Taxes...

Written Answers — Department of Finance: Financial Services Sector (26 Nov 2020)

Paschal Donohoe: In 2015 the government launched a Strategy entitled IFS2020: A Strategy for Ireland’s International Financial Services Sector 2015–2020. New implementation structures were established under that Strategy and the Clearing House Group no longer exists. This revised committee structure continues under the most recent Strategy for the development of the international financial...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: As the Deputy will be aware, on 18 March last the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically impacted by the Covid-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially for a period up to three months and then...

Written Answers — Department of Finance: Eurozone Issues (26 Nov 2020)

Paschal Donohoe: The most recent Eurogroup meeting was held on Tuesday 3 November. Due to COVID19 related restrictions the decision was made once again to hold the Eurogroup meeting by videoconference. The first agenda item featured a discussion on the latest health developments and their economic consequences, in view of the worrying surge in COVID-19 cases around Europe. Dr Andrea Ammon, Director of the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: In the Budget 2021 speech, I announced the Irish Government’s decision to make a formal application to the European Commission for funding under the Support to mitigate Unemployment Risks in an Emergency (SURE) Instrument. The application was submitted on the 26thof October. That application has now been assessed and accepted by the Commission. On foot of this assessment, the...

Written Answers — Department of Finance: Value Added Tax (26 Nov 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: Vehicle Registration (26 Nov 2020)

Paschal Donohoe: I am informed by Revenue that Regulation 9 of Statutory Instrument No. 318 of 1992, Vehicle Registration and Taxation Regulations, provides that the year assigned by Revenue for use on a registration plate is determined by the date the vehicle is first brought into use. From the information submitted on the German Registration Certificate, the vehicle in question was brought into use in...

Written Answers — Department of Finance: Tax Collection (26 Nov 2020)

Paschal Donohoe: As part of the response to COVID-19, the Government introduced a range of support measures for impacted businesses, including the Debt Warehousing scheme and a reduced interest rate of 3% for phased payment arrangements under certain conditions. The initial Debt Warehousing scheme, which was put on a statutory footing in the Financial Measures (Covid-19) (No. 2) Act 2020 , provides for the...

Written Answers — Department of Finance: Property Tax (26 Nov 2020)

Paschal Donohoe: Section 13 of the Finance (Local Property Tax) Act 2012 (as amended) sets out how residential properties are to be valued for Local Property Tax purposes. It is a matter for property owners to determine the valuation of their properties on the 'valuation date'. The current 'valuation date' is 1 May 2013 and any property valuation declared on that date remains valid until 31 October 2021....

Written Answers — Department of Finance: Property Tax (26 Nov 2020)

Paschal Donohoe: Local Property Tax (LPT) provides for certain properties to be exempt from the tax during a ‘valuation period’. For the current ‘valuation period’ (now extended to cover 2013 to 2021), these exemptions include properties purchased between 1 January 2013 and 31 December 2013 and trading stock of builders/developers unsold at 1 May 2013 or sold in the period 1...

Written Answers — Department of Finance: Economic Growth (26 Nov 2020)

Paschal Donohoe: At the time of Budget 2021, my Department forecast a decline in GDP of 2 ½ per cent this year, with growth of 1 ¾ per cent in prospect next year. The projections assumed that trade with the UK would take place on WTO terms from next year and that a widespread vaccine for Covid-19 would not be available before the end of 2021. It was also assumed that targeted measures would be...

Written Answers — Department of Finance: Economic Policy (26 Nov 2020)

Paschal Donohoe: As the Deputy will be aware, the Government has acted decisively and on an unprecedented scale to support the economy through the effects of Covid-19 and stands ready to support the recovery as we emerge from this period. To date, the Government has provided support of almost €40 billion to households, our health sector and businesses. In Budget 2021, I announced the establishment...