Results 1,021-1,040 of 33,118 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Exemptions (19 Mar 2025)

Paschal Donohoe: I am advised by the Revenue Commissioners that, in general, Capital Gains Tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a residential property, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of an...

Written Answers — Department of Finance: Tax Code (19 Mar 2025)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government, Securing Ireland’s Future, includes a commitment to “Consider measures, in conjunction with the Department of Finance, to encourage gym membership and active participation in sport and exercise.” In line with best practice, proposals for the introduction of new tax measures or the amendment of existing tax...

Written Answers — Department of Finance: Tax Data (19 Mar 2025)

Paschal Donohoe: The Rent Tax Credit (RTC), as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. I am informed by Revenue that 313,980 taxpayer units nationwide claimed the rent tax credit for 2022. This number includes both PAYE and self-assessed...

Written Answers — Department of Finance: Housing Provision (19 Mar 2025)

Paschal Donohoe: Budget 2025 included a record €6 billion in capital spending for housing, including direct Exchequer spending, investment by the Land Development Agency and borrowing by the Housing Finance Agency. This level of public spending supports the State’s involvement in every aspect of housing — land purchase, construction, purchasing and funding through a number of channels for...

Written Answers — Department of Finance: Departmental Staff (19 Mar 2025)

Paschal Donohoe: Recruitment for my Department is carried out in the main by PublicJobs. Once a candidate is under consideration for a position, several pre-employment checks including Garda Vetting are completed before the candidate is deemed suitable for appointment to the Department. When my Department recruits directly, Garda Vetting is carried out via PublicJobs. Those bodies under the aegis of my...

Written Answers — Department of Finance: Tax Exemptions (19 Mar 2025)

Paschal Donohoe: My Department, the Department of Health and Revenue have, for some time, been aware of issues which arose from contractual arrangements within the General Practitioner (GP) community whereby some GPs treat income under their General Medical Services (GMS) contract as income of a GP practice in which they are a partner or an employee, rather than income of that individual GP. In accordance...

Written Answers — Department of Finance: Insurance Industry (19 Mar 2025)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal and policy framework governing financial regulation. As the Deputy will appreciate, I am unable to comment on individual cases, nor can I intervene in disputes that individuals may have with an insurance provider, including in the one specified. According to Insurance Ireland, in an open and highly competitive...

Written Answers — Department of Finance: Tax Code (19 Mar 2025)

Paschal Donohoe: Revenue operates a self-assessment system for VAT and therefore the application of VAT on services is primarily a matter for the company or person providing those services. Revenue provides guidance in relation to the issue of VAT on services on its website www.revenue.ie and in the form of various Tax and Duty manuals. Revenue will also provide specific advice or guidance to taxpayers that...

Written Answers — Department of Finance: EU Funding (19 Mar 2025)

Paschal Donohoe: Ireland’s policy of military neutrality means that Ireland does not participate in military alliances or common or mutual defence arrangements. The Government has been clear that it has no desire to alter Ireland’s policy of military neutrality.It is clear, however, that no state acting alone can address the entirety of existing and emerging security challenges. As a result,...

Written Answers — Department of Finance: Financial Services (19 Mar 2025)

Paschal Donohoe: Part 4 of the Criminal Justice Act 2010 (the “Act”) provides for various anti-money laundering obligations that must be complied with by a ‘designated person’. A ‘designated person’ is defined in section 25 of the Act and this includes a financial institution and credit institution as defined in the Act. Therefore, these institutions must comply...

Written Answers — Department of Finance: Tax Code (19 Mar 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. While the thresholds were reduced...

Written Answers — Department of Finance: Tax Credits (19 Mar 2025)

Paschal Donohoe: Parts 44 and 44A of the Taxes Consolidation Act (“TCA”) 1997 provide for joint assessment of married couples and civil partners respectively, and section 461 TCA provides for the basic personal tax credit, including the ‘married person tax credit’. Where joint assessment applies, tax is chargeable on a couple’s total income and a single tax return is due....

Written Answers — Department of Finance: Tax Data (19 Mar 2025)

Paschal Donohoe: I am advised by Revenue that traders are not required to identify the VAT generated from the supply of specific goods or services on their periodic VAT returns. As such, Revenue does not have any data from which to provide an estimate of the cost of a reduction in the VAT rate applied to either bike rentals or short-term car rental.

Written Answers — Department of Finance: Tax Data (19 Mar 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive. Ireland is obliged to comply with the EU VAT Directive. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within categories of goods and services specified in the Directive, in respect of which Member...

Written Answers — Department of Finance: Tax Reliefs (19 Mar 2025)

Paschal Donohoe: Tax relief for trade union subscriptions was previously provided for under section 472C of the Taxes Consolidation Act 1997. The relief was introduced in 2001 and abolished from 2011 onward (in line with the National Recovery Plan and with a view to widening the tax base). A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was...

Written Answers — Department of Finance: Departmental Contracts (19 Mar 2025)

Paschal Donohoe: I can advise the Deputy that my Department does not have any record of contracts awarded by it to the company mentioned

Written Answers — Department of Finance: Tax Code (19 Mar 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. While the thresholds were reduced during...

Written Answers — Department of Finance: State Assets (19 Mar 2025)

Paschal Donohoe: I am advised by the Central Bank that at the end of 2024 the Bank held 12 tonnes of gold and gold receivables at a market value of €971m. The Central Bank’s gold bars are held in custody at the Banque de France and at the Bank of England. The annual costs of these gold custody fees are minimal. The Central Bank has not disposed of any gold holdings in recent years. The...

Written Answers — Department of Finance: State Assets (19 Mar 2025)

Paschal Donohoe: I should say that the Exchequer had no foreign currency reserves/assets at end-2024. I am informed by the Central Bank that since the introduction of the euro the role of foreign exchange reserves has changed. The ECB now holds the foreign reserves for the Eurosystem, to which the Central Bank of Ireland contributed a portion (circa 2%) upon the establishment of EMU. At the end of 2023,...

Written Answers — Department of Finance: Tax Code (19 Mar 2025)

Paschal Donohoe: The position is that where a couple is cohabiting, rather than married or in a civil partnership, they are treated as separate and unconnected individuals for the purposes of income tax. Each partner is a separate entity for tax purposes, therefore, cohabiting couples cannot file joint assessment tax returns or share their tax credits and tax bands in the same manner as married couples. The...