Results 101-120 of 33,392 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (15 Jul 2025)

Paschal Donohoe: The short answer to the Deputy’s question is that this agreement does have consequences for the OECD agreement overall. There are three in particular. The first is what this means for competitiveness of economies and countries that remain fully inside pillar two. The second is how other economies and important stakeholders in the OECD agreement will respond, given the actions that...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (15 Jul 2025)

Paschal Donohoe: It is possible it could require action at EU level but I cannot give the Deputy a definitive answer to that yet. The reason for that is that what I have seen is the publication of a general agreement on how the US would engage in the OECD framework that raises many questions. At this point in time, I cannot give the Deputy a definitive answer regarding how that agreement will be executed...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (15 Jul 2025)

Paschal Donohoe: The European Central Bank increased interest rates over the course of 2022 and 2023 as a move to combat excessive inflation. Since the middle of 2024, the ECB has reduced its main official lending rate to 2.15%. While changes by the ECB generally have a direct impact on tracker mortgage rates, reductions by the ECB are only one factor that feed into the commercial decisions made by...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: The Ireland Strategic Investment Fund is a €16.6 billion fund comprising the discretionary portfolio of €8.9 billion and the directed portfolio of €7.7 billion, based on the 2024 annual report. It has a double bottom line mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. ISIF has complete independence in...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: The key point to emphasise is that ISIF made the decision to divest of these bonds. It no longer holds them. I understand this decision was made over the last number of weeks.

Written Answers — Department of Finance: Tax Code (15 Jul 2025)

Paschal Donohoe: Capital Gains Tax (CGT) is paid on the chargeable capital gain made when an individual disposes of an asset. The chargeable gain is usually the difference between the price paid for the asset and the price upon disposal. CGT is payable by the person making the disposal. A charge to Capital Acquisitions Tax (CAT) may arise on a gift or inheritance of an asset. It is payable by the...

Written Answers — Department of Finance: Tax Code (15 Jul 2025)

Paschal Donohoe: I welcome the publication of the Central Bank's Quarterly Bulletin for Q2 2025, which forecasts continued growth in the domestic economy over the years ahead, albeit at a slower rate owing to the rise in global economic policy uncertainty. The Bank has revised its forecasts downwards since the last bulletin and now expects Modified Domestic Demand (MDD) growth of 2.0 per cent this year and...

Written Answers — Department of Finance: Regulatory Bodies (15 Jul 2025)

Paschal Donohoe: The Financial Services and Pensions Ombudsman (FSPO) provides an independent, fair, impartial, confidential and free service to consumers and small businesses to resolve complaints against financial service providers and pension service providers. Complaints are resolved through either informal mediation, leading to a potential settlement agreed between the parties, or formal...

Written Answers — Department of Finance: Insurance Industry (15 Jul 2025)

Paschal Donohoe: The Government remains fully committed to progressing insurance reform. We are in the final stages of developing a new Action Plan for Insurance Reform which will build on the significant progress achieved under the 2020 Action Plan. This work is being driven at Cabinet level through the Cabinet Sub-Group on Insurance Reform, chaired by An Tánaiste, and was informed by a public...

Written Answers — Department of Finance: Credit Unions (15 Jul 2025)

Paschal Donohoe: I thank the Deputy for his question. In relation to reserves, the Credit Union Act sets out provisions in relation to credit union reserves and provides the Central Bank with regulation-making powers in relation to reserves. Credit unions are required to maintain a minimum regulatory reserve requirement of at least 10 per cent of the assets of the credit union under Section 45 of the...

Written Answers — Department of Finance: Insurance Industry (15 Jul 2025)

Paschal Donohoe: To directly respond: the Government is developing a new Action Plan for Insurance Reform, which will set out a comprehensive series of targeted measures to improve the affordability, availability, and transparency of insurance for consumers, businesses, and community groups. The new Plan will build on the progress achieved through the 2020 Action Plan, which delivered major reforms...

Written Answers — Department of Finance: Central Bank of Ireland (15 Jul 2025)

Paschal Donohoe: Governor Makhlouf issued his pre-Budget letter at the end of June. He highlights inter alia the risks to our economy associated with the deeply uncertain international environment given our exposure to the multinational sector. Government is very conscious of these issues. This Government’s perspective, and in line with the Governor’s letter, is that the policy response to...

Written Answers — Department of Finance: Fiscal Policy (15 Jul 2025)

Paschal Donohoe: As the Deputy will be aware, the Infrastructure, Climate and Nature Fund (ICNF) was established last year alongside the Future Ireland Fund (FIF). These two long-term savings funds aim to assist with addressing known future fiscal and economic challenges. The ICNF will, subject to the results of an annual economic and fiscal assessment, receive a transfer of €2 billion each year...

Written Answers — Department of Finance: Housing Schemes (15 Jul 2025)

Paschal Donohoe: The Help to Buy incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment It also has as an aim to encourage additional supply of new houses by supporting demand. The scheme provides a refund of Income Tax and Deposit Interest Retention Tax paid in Ireland over the previous four years, subject to certain limits and is legislated...

Written Answers — Department of Finance: Tax Code (15 Jul 2025)

Paschal Donohoe: Revised Entrepreneur Relief (RER) is provided for by section 597AA of the Taxes Consolidation Act 1997. RER provides that a reduced 10% rate of Capital Gains Tax (CGT) applies in respect of a chargeable gain or chargeable gains on a disposal or disposals of qualifying business assets by an individual up to a lifetime limit of €1 million. Any chargeable gain in excess of the €1...

Written Answers — Department of Finance: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: At year-end 2024, ISIF held both directly and indirectly €7.76 million in six companies listed on the UN Database – 0.16% of the Global Portfolio. Direct investments by the Ireland Strategic Investment Fund in companies on the UN database were approximately €5.6 million in 4 companies and its indirect investments were €2.16 million and included 5 companies. I...

Written Answers — Department of Finance: Tax Yield (15 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 117 and 129 together. Total tax revenues for the first six months of year amounted to €49.5 billion. This was an increase of €4.7 billion. A little over a third of this increase is due to once-off tax revenue arising from the Court of Justice of the European Union ruling of September 10th, 2024. When these once-off revenues are excluded tax...

Written Answers — Department of Finance: Legislative Measures (15 Jul 2025)

Paschal Donohoe: I would like to thank the Deputy for their question. The Government is firmly committed to advancing this important legislative reform and it is a key commitment in the Programme for Government – Securing Ireland’s Future. I am pleased to confirm that Cabinet has agreed to bring the Central Bank (Amendment) Bill 2025 forward before the summer recess. The Bill will give legal...

Written Answers — Department of Finance: Middle East (15 Jul 2025)

Paschal Donohoe: The Ireland Strategic Investment Fund (ISIF) is a €16.6 billion fund comprising the discretionary portfolio of €8.9 billion and the directed portfolio of €7.7 billion based on the 2024 Annual Report. It has a double bottom line mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. ISIF has complete...

Written Answers — Department of Finance: Regulatory Bodies (15 Jul 2025)

Paschal Donohoe: The Financial Services and Pensions Ombudsman (FSPO) provides an independent, fair, impartial, confidential, and free service to consumers and small businesses to resolve complaints against financial service providers and pension service providers. Complaints are resolved through either informal mediation, leading to a potential settlement agreed between the parties, or formal...