Results 1,301-1,320 of 33,118 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: I am aware that on January 20th 2025 Oxfam International produced a new report entitled “Takers not Makers: The unjust poverty and unearned wealth of colonialism” which highlights issues concerning wealth inequality. In its associated Press Release, Oxfam Ireland called for the Government to introduce "a flat rate tax of 1.5% on all net wealth above €5 million or a...

Written Answers — Department of Finance: Regulatory Bodies (13 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 35 and 48 together. The Central Bank of Ireland is the competent authority under the Prospectus Regulation. My officials have consulted the Central Bank and they indicated by way of response that the law is clear on the matter. The Central Bank has to approve a prospectus for the offer of securities to the public where it meets the required standards of...

Written Answers — Department of Finance: Departmental Schemes (13 Feb 2025)

Paschal Donohoe: Under the previous Government, the National Disability & Inclusion Strategy or NDIS Transport Working Group recommended that the Disabled Driver Scheme or DDS be replaced with a modern, fit-for-purpose vehicular adaptation scheme. This is in line with the general view that we need to move away from a medical criteria-based approach to a needs-based approach. Under the aegis of the...

Written Answers — Department of Finance: Insurance Industry (13 Feb 2025)

Paschal Donohoe: As Minister for Finance, I acknowledge the enormous damage caused by Storm Éowyn, and the impact it has had on families, communities, and businesses. In the aftermath of Storm Éowyn, my officials wrote to Insurance Ireland on my behalf on 28 January reiterating Government’s expectation that insurance companies should treat policyholders fairly and expediently in the context...

Written Answers — Department of Finance: Irish Stock Exchange (13 Feb 2025)

Paschal Donohoe: Ireland’s equity markets are diverse comprising of both public and private equity market participants and a wider ecosystem which includes a large number of professional services companies. The growing importance of large stock market indices linked to the rise in passive investment strategies has been a pull factor in listings activity gravitating towards the largest stock...

Written Answers — Department of Finance: Insurance Industry (13 Feb 2025)

Paschal Donohoe: Firstly, I wish to reassure the Deputy that I recognise the concerns felt by many consumers and businesses across various sectors around the cost and availability of insurance cover. As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, I wish to highlight the...

Written Answers — Department of Finance: Banking Sector (13 Feb 2025)

Paschal Donohoe: The same consumer protection framework applies to all Central Bank regulated entities, be that a bank, a retail credit firm or a credit servicing firm. From a regulatory perspective the Central Bank has put in place a range of measures in order to protect consumers. This framework seeks to ensure that regulated entities are transparent and fair in all their dealings with borrowers and that...

Written Answers — Department of Finance: Housing Policy (13 Feb 2025)

Paschal Donohoe: The Housing Unit in my Department is responsible for the provision of analysis and support on housing-related issues to the wider department, in particular in relation to the delivery of Housing for All. The unit ensures developing trends in the sector, including data on planning permissions, commencements and completions, are monitored and evaluated. The unit provides input and advice to...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: On 22 October 2024, following Government approval, my predecessor published a report, entitled ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’, following wide-ranging review of the funds and asset management sector. The Review fulfilled two of the recommendations of the Commission on Taxation and Welfare 2022 report, including that mentioned by...

Written Answers — Department of Finance: Credit Unions (13 Feb 2025)

Paschal Donohoe: I thank the Deputy for his question. The Finance (Miscellaneous Provisions) Act 2020 amended the Credit Union Act, 1997 (the 1997 Act) in December 2020, and included a change to allow credit unions, at their discretion, to host general meetings remotely (either wholly or partially). From July 2021 credit unions may hold virtual / remote general meetings (wholly or partially) if this...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: In 2020, the Economic and Social Research Institute (ESRI) was commissioned to examine the options available to offset the impacts of a carbon tax increase on low-income households. The resulting ESRI research paper, “Carbon Taxes, Poverty and Compensation Options” acknowledges that the impact of a carbon tax increase is not distributed across households evenly. Lower income...

Written Answers — Department of Finance: Tax Credits (13 Feb 2025)

Paschal Donohoe: The Rent Tax Credit (RTC), as provided for in section 473B of the Taxes Consolidation Act 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 2022 is the latest year for which fully analysed data in relation to all RTC claims across both PAYE and self-assessed taxpayer...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: As the Deputy will be aware, in making any decision in relation to VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. In recognition of the needs of SMEs in the hospitality sector, the Programme for Government does commit to bring forward measures to support SMEs, in particular...

Written Answers — Department of Finance: Fiscal Policy (13 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 50 and 55 together. As the Deputies are aware, the UN maintains a database of businesses involved in certain specified activities relating to settlements in the OPT. At end 2023, ISIF’s direct investments in companies on the UN database was approximately €4.2m in 11 companies. ISIF’s indirect investments included 8 companies totalling...

Written Answers — Department of Finance: Tax Yield (13 Feb 2025)

Paschal Donohoe: The Deputy should note that from 2001-2008 the Horse and Greyhound Racing Fund received a guaranteed level of funding each year, which was based on betting duty receipts from the preceding year, subject to a minimum level based on the year 2000 amount, adjusted for inflation. However, in 2009, a policy change was made whereby the annual payment to the Fund was no longer to be...

Written Answers — Department of Finance: Tax Yield (13 Feb 2025)

Paschal Donohoe: In order to comply with the 2016 State aid decision of the Commission, €14,285 billion was recovered over the course of 2018 and placed into the Escrow Fund in order to comply with Ireland's recovery obligations. This included the State aid required to be recovered and EU interest. In general the Escrow Fund could not be accessed or distributed until a final ruling was made by...

Written Answers — Department of Finance: Fiscal Policy (13 Feb 2025)

Paschal Donohoe: The Finance Act 2000 introduced the gross roll-up taxation regime for investments in domestic funds and life policies. The general thrust of the regime is that there is no annual tax on income or gains arising within the investment. However, exit tax must be deducted on the occurrence of a “chargeable event”, which originally included – - the making of relevant...

Written Answers — Department of Finance: Housing Schemes (13 Feb 2025)

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. An increase in the supply of new housing remains a central and...

Written Answers — Department of Finance: Banking Sector (13 Feb 2025)

Paschal Donohoe: The Government recognises the difficulties that the increase in interest rates in recent years has caused for some mortgage borrowers. The ECB is responsible for the formulation and implementation of official interest rates. Changes in official rates feed into the general level of interest rates throughout the economy, but in a market economy the determination of retail and business...

Written Answers — Department of Finance: Insurance Industry (13 Feb 2025)

Paschal Donohoe: Insurance reform remains a key priority for this Government. To date the Office for the Promotion of Competition in the Insurance has successfully helped to facilitate the availability of insurance in previously challenging areas, in turn contributing to a more competitive market. The new Programme For Government - Securing Ireland’s Future calls for the expansion of the Office,...