Results 13,921-13,940 of 34,135 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (21 Nov 2019)

Paschal Donohoe: As the Deputy will be aware, Finance Bill 2019 proposes a two-year extension to the Help to Buy (HTB) scheme. The definition of first time buyer in HTB is as follows: 'first-time purchaser' means an individual who, at the time of a claim under subsection (3) has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his...

Written Answers — Department of Finance: Banking Sector Investigations (21 Nov 2019)

Paschal Donohoe: As the Deputy is aware I have no role in the day to day operations of any bank operating in the market. The bank concerned, AIB, has provided me with the following statement in relation to this matter: "AIB can confirm that the issue has been notified to the Central Bank of Ireland. "This issue relates to certain EBS mortgage customers where their insurance premium is collected with...

Written Answers — Department of Public Expenditure and Reform: Ministerial Meetings (21 Nov 2019)

Paschal Donohoe: I wish to advise the Deputy that I have not met with any insurance companies or Insurance Ireland in my role as Minister for Public Expenditure and Reform since my appointment to that role on 6thMay 2016. I am providing a separate reply to the Deputy in response to his question to me in my role as Minister for Finance.

Written Answers — Department of Public Expenditure and Reform: Public Spending Code (21 Nov 2019)

Paschal Donohoe: As part of the ongoing reform of Ireland’s public investment management systems, my Department has undertaken extensive work on the updating of the Public Spending Code. The purpose of this update is to strengthen the existing guidance to better align with the realities of project delivery and with a particular focus on improved appraisal, cost estimation and management. I anticipate...

Written Answers — Department of Public Expenditure and Reform: Shared Services (21 Nov 2019)

Paschal Donohoe: I propose to take Questions Nos. 66 to 68, inclusive, together. The Financial Management Shared Service Programme will see the migration and upgrade of 31 separate Financial Management Systems (FMS) to a single FMS, with a single common Chart of Accounts, and standardised accounting processes for all of Central Government. This Programme is necessary, not only to address the upgrade...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: The tax division of my Department provided the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach with an estimate of costs in respect of this measure that was based on specific assumptions. The report provided also noted that the capital taxes route was not the only means of providing an incentive to landlords to retain tenants and that it might also be possible to do...

Finance Bill 2019: Order for Fifth Stage (20 Nov 2019)

Paschal Donohoe: Now.

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: I thank Deputy Boyd Barrett. I want to acknowledge the significant interest that Deputy Boyd Barrett has in this sector and the work that he is doing. I listened over a number of years to the different debates and contributions that were raised in this sector by Deputy Boyd Barrett. In the aftermath of the debate that happened here two years ago, my Department did work on last year's...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: If there are, I want to understand them. In the run-up to next year's Finance Bill, the Department of Finance and I are looking forward to understanding why this is happening and how and why tax credits are being drawn down.

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: I will make two points. It may well be the case that the uncertain and transitory nature of the industry is beyond the ability of tax policy to influence. However, the Government will soon produce an action plan on the further development of the audiovisual sector in Ireland. As I said, we make a valuable tax credit available. There are certain criteria for that tax credit and we expect...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: Local authorities have development levies and those levies are there to try to ensure that development activity is taxed. I do not think Deputy Boyd Barrett's argument holds up. He has drawn a distinction between a wealth asset and a wealth-producing asset. Somebody's house is their home, for nearly all people, and I respect that. I am very sensitive to how people feel about the local...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: Deputy Boyd Barrett and I have debated this issue on many occasions and he is correct that I have deferred the revaluation date for the local property tax to 1 November 2020. Significant work needs to be delivered next year. It can be delivered, but it will require consensus in the House for that to happen. I differ with the Deputy in that I believe that the local property tax is an...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: I take the Deputy's point that in the context of climate change, there is much change we will need to make to incentivise the sector through the kinds of reliefs we are discussing and the greater role of training, and to ensure that those involved in running farms have the best knowledge and support available to them. Perhaps to move the issue forward and address the issue Deputies...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: The refundable rate will continue to be 2%. The stamp duty rate will increase from 6% to 7.5% but the refundable rate of 2% will remain unchanged. That is dealt with in section 55. On the question about the impact of the scheme, early indications are that it is working well and as expected. Of the applications thus far received, 911 have been successful, of which 839 related to the...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: The young trained farmer stamp duty relief provides for full exemption from stamp duty on transfers of farm land to certain young trained farmers. To qualify, the farmer receiving the transfer must be less than 35 years of age on the date of execution of the deed of transfer; must have attained a minimum agricultural education from a list set out in legislation; must for a period of five...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: Deputy Michael McGrath's question about definitions will be dealt with by guidance that will be issued by the Revenue Commissioners. That is the appropriate way to deal with it. If we were to look to define either a food or a food supplement by way of a legal definition, it would be a catalyst for this issue to continue to cause problems into the future. We can be certain that shortly...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: To take a step back, what is at issue is that we have a part of the economy which is arguing that no tax should be levied on the products it sells. I am faced with such claims every day as Minister for Finance. There are many politicians in the Chamber today who are very experienced in these matters and often suspicious of such claims when they are put forward for other parts of the...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: A number of issues were raised. I am not hiding behind anyone in respect of this matter. It has been the subject of a great deal of debate on Committee Stage and in the Chamber. I answer questions relating to it, not the Revenue Commissioners. That is my job. I am not hiding behind them, but I listen to their advice. The advice they have given me, which has persuaded me, is that the way...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: Yes, we are going to try to implement this measure as soon as possible. We are confident we will be able to do it. I take the point made by Deputy O'Keeffe. I know that bookies are also places to socialise. I agree with the Deputy and I would prefer to see bets being placed in an atmosphere in which they can be better regulated and it is just simply the case this can be done if there is a...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Paschal Donohoe: Deputy McGrath raised this issue on Committee Stage. The proposed change to the WLTP was something with which elements in the motor industry had many concerns, particularly if it was going to be combined with the changes we are now making in carbon pricing. It is fair to say there is a possibility of a mismatch for a period of time but, of course, for diesel vehicles people will also pay...