Results 1,341-1,360 of 33,118 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Irish Stock Exchange (12 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: State Assets (12 Feb 2025)

Paschal Donohoe: In answering the Deputy's question, I should note that a recommendation to pay dividends is the sole responsibility of the board and management of the banks. I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. AIB and Bank of Ireland resumed paying dividends in 2017 and 2018 respectively, for the...

Written Answers — Department of Finance: Departmental Contracts (12 Feb 2025)

Paschal Donohoe: Following a tender competition ran by the Department of Finance in January 2023, Rothschild & Co. were selected as the Department’s independent financial advisor in March 2023 on a 24-month contract with the option of a 12-month renewal. The role of Rothschild & Co is as follows:To act as independent financial advisor in relation to the State’s remaining banking...

Written Answers — Department of Finance: State Assets (12 Feb 2025)

Paschal Donohoe: As you may be aware, on 28th January 2025, I announced the successful completion of the disposal of a further 5% of the State’s shareholding in AIB by way of an accelerated bookbuild. Key points of the share sale:The State’s shareholding in AIB reduced by 5% from c. 17.5% to c. 12.5% following this transaction.The Placing price was €5.60 per share representing a 2.27%...

Written Answers — Department of Finance: Tax Code (12 Feb 2025)

Paschal Donohoe: I am advised by Revenue that its Compliance Intervention Framework, which is in place since May 2022, provides for a consistent, graduated response to compliance risks and taxpayer behaviour. This response ranges from extensive opportunities for taxpayers to self-review and correct any aspect of their tax compliance (Revenue’s preferred option) up to investigation with a view to...

Written Answers — Department of Finance: Tax Code (12 Feb 2025)

Paschal Donohoe: As the Deputy will be aware the Department of Finance published an independent economic analysis into the possible effects of the Irish tax system on developing economies in 2015. The analysis, completed by the IBFD on behalf of the Department, was entitled ''Spillover Analysis Possible Effects of the Irish Tax System on Developing Economies' and included a baseline analysis of Ireland's tax...

Written Answers — Department of Finance: Tax Data (12 Feb 2025)

Paschal Donohoe: The concept of the “Tax Gap” refers to attempts to measure the difference between actual tax collection and the theoretical amount of tax that might be collected in respect of any given taxhead if the headline rates of tax were applied without exceptions or reliefs and all taxpayers returned and paid tax on all relevant taxable activity. The concept may be broken down into...

Written Answers — Department of Finance: Departmental Programmes (12 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the overall objective of the compliance assurance programme is to validate Revenue’s risk analysis and intervention targeting systems by examining a small number of cases not otherwise selected. Revenue has operated such assurance programme for many years. In line with public health restrictions relating to Covid-19, Revenue suspended onsite compliance...

Written Answers — Department of Finance: Departmental Data (12 Feb 2025)

Paschal Donohoe: The Central Bank has informed me of the following information. While the Central Bank of Ireland (CBI) is the registrar for Irish Government bonds, the way they are settled and registered does not allow for the identification of individual holders. However, the CBI publishes some information on holders of Irish Government bonds, disaggregated between resident and non-resident holders. At...

Written Answers — Department of Finance: Departmental Data (12 Feb 2025)

Paschal Donohoe: The Central Bank has informed me of the following information in relation to Irish Government bonds held by the Bank since 2016. The Central Bank has gradually built up a portfolio of Irish government bonds for monetary policy purposes under PSPP and PEPP. These programmes were established by decision of the ECB’s Governing Council. PSPP began in 2015 and by end-2016, the Central...

Written Answers — Department of Finance: Tax Exemptions (11 Feb 2025)

Paschal Donohoe: It is a general principle of taxation that, in the absence of a specific exemption, income from all sources is, in general, subject to tax. The State Pension (Contributory) benefit is a taxable source of income as provided for in Section 126 of the Taxes Consolidation Act 1997. As such, it is liable to Income Tax although it is not subject to the Universal Social Charge (USC) or Pay...

Written Answers — Department of Finance: Tax Reliefs (11 Feb 2025)

Paschal Donohoe: The Help to Buy scheme assists first-time buyers with the deposit they need to buy or build a new house or apartment. The scheme provides for a refund of Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to certain conditions being met. In July 2020 the scheme was amended so that the level of assistance available to first time buyers was...

Written Answers — Department of Finance: Tax Code (11 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 186 and 187 together. All liquid fuel products, including biofuels such as Hydrotreated/Hydrogenated Vegetable Oil (HVO), are subject to Value-Added Tax (VAT), and to excise duty in the form of Mineral Oil Tax (MOT). The VAT rating of goods and services is subject to EU VAT law. In general, the EU VAT Directive provides that all goods and services are...

Written Answers — Department of Finance: Tax Yield (11 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the amount of Excise Duty collected from Alcohol Products Tax (APT) in each year from 2014 to 2024 and the proportion of this Duty as a percentage of total Excise Duty and overall tax take in each year are shown in the following table. Year APT €m Total Excise Receipts** €m Proportion of Excise Receipts ...

Written Answers — Department of Finance: National Treasury Management Agency (11 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 189 and 192 together. The NTMA has informed me that Sovereign Bonds are a key part of any large globally diversified portfolio. Details of ISIF’s direct holdings are published annually in the NTMA Annual Report. The latest published version for the year ended 2023 showed the following direct holdings of Israeli government bonds: Nominal...

Written Answers — Department of Finance: Tax Code (11 Feb 2025)

Paschal Donohoe: I assume the Deputy is referring to the availability of Capital Acquisitions Tax (CAT) agricultural relief in respect of a gift or inheritance of a family farm where it includes land on which solar panels and / or wind turbines are installed. Section 89 of the Capital Acquisitions Tax Consolidation Act 2003 (CATCA 2003) provides for a relief from CAT for gifts and inheritances of...

Written Answers — Department of Finance: Ministerial Responsibilities (11 Feb 2025)

Paschal Donohoe: I wish to advise the Deputy that a briefing document prepared by the Department of Finance was provided to me on my appointment as Minister for Finance. A copy of this document, having regard to the relevant provisions of the Freedom of Information Act 2014, will be available shortly on my Department’s website.

Written Answers — Department of Finance: Insurance Coverage (11 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 the 28 January reiterating Government’s expectation that insurance companies should treat policyholders fairly and expediently in...

Written Answers — Department of Finance: Tax Yield (11 Feb 2025)

Paschal Donohoe: I am advised by Revenue the current rates of excise that apply to a range of products and licences subject to this duty are published on the Revenue website at www.revenue.ie/en/companies-and-charities/excise-and-licence s/excise-duty-rates/index.aspx. The current rates of Vehicle Registration Tax are published at www.revenue.ie/en/vrt/calculating-vrt/index.aspx. The provisional receipts...

Written Answers — Department of Finance: Tax Reliefs (11 Feb 2025)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations (S.I. No. 353 of 1994) (as amended) provide for the repayment or remission of VAT and Vehicle Registration Tax (VRT) on the purchase of an adapted vehicle for the transport of a person with specific severe and permanent physical disabilities. To qualify for the scheme, the person must be in possession of a primary...