Results 14,041-14,060 of 32,960 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Stamp Duty (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the number of successful applications under the Residential Development Stamp Duty Refund Scheme (Section 83D Stamp Duties Consolidation Act 1999) since its introduction to date (23 August 2019) is 661. A tabular breakdown is set out below for the Deputy’s information. Type of Application Breakdown Percentage of Total Successful Applications Refund...

Written Answers — Department of Finance: VAT Rate Application (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 115, 148 and 162 together. I am advised by Revenue that the document referred to by the Deputies was an internal document prepared in 2007 and that it was never published on the Revenue website. The document has no legal value or authority over VAT legislation in place on 1 January 1991 or subsequently and has no legal effect. It does not mean that food...

Written Answers — Department of Finance: Tax Reliefs Data (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 116 to 119, inclusive, together. Section 480A Taxes Consolidation Act 1997 (TCA) provides tax relief for certain sportspersons on earnings which derive directly from participation in the sport concerned, such as prize money and performance fees, but not other earnings such as sponsorship fees and income from advertisements or endorsements. Where the...

Written Answers — Department of Finance: Tax Reliefs Application (6 Sep 2019)

Paschal Donohoe: Section 473A of the Taxes Consolidation Act 1997 provides for tax relief at the standard rate of income tax (20%) in respect of qualifying fees paid by an individual for a third level education course, subject to the terms and conditions set out in that section.  Qualifying fees mean tuition fees in respect of an approved course at an approved college, reduced by the amount of the...

Written Answers — Department of Finance: Insurance Industry (6 Sep 2019)

Paschal Donohoe: As the Deputy is aware, Recommendation 4 of the Cost of Insurance Working Group’s (CIWG) Report on the Cost of Employer and Public Liability Insurance required the Department of Finance to publish a key information report on employer liability (EL) and public liability (PL) insurance claims by Q4 2018. In order to do this, the CIWG’s data sub-group developed a template with...

Written Answers — Department of Finance: Revenue Commissioners Investigations (6 Sep 2019)

Paschal Donohoe: Section 851A of the Taxes Consolidation Act 1997 requires Revenue to uphold taxpayer confidentiality and prohibits the release of any information that could lead to the identification of taxpayers. Revenue has however, assured me that it carries out a full range of risk-based interventions to combat all types of tax evasion and non-compliance. These interventions include visits to...

Written Answers — Department of Finance: Revenue Commissioners Investigations (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that extensive efforts are made to engage with sub-contractors (and their agents) to ensure that the Relevant Contracts Tax (RCT) system is operated correctly.  Since 1 January 2012, all RCT payment and return filing activity is conducted online using the Revenue Online Service (ROS). The online facility provides sub-contractors with access to a range of...

Written Answers — Department of Finance: Proposed Legislation (6 Sep 2019)

Paschal Donohoe: Post-Brexit when the UK becomes a third country, under the CSD Regulation, Euroclear UK & Ireland will no longer be able to provide its services into the Irish market.  In response to Brexit and its anticipated impact on the Irish market, Euronext Dublin (formerly the ISE) announced in October 2018 that it would transfer the settlement of trades in Irish equities and...

Written Answers — Department of Finance: Revenue Commissioners Staff (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 125 to 128, inclusive, together. The Government has been clear that it is determined in the context of Brexit, deal or 'no deal', to avoid the need for a hard border on the island of Ireland. I am assured by Revenue that in line with that policy it has not purchased or leased land or premises nor has it any such plans, within 30km of the Border. In...

Written Answers — Department of Finance: Real Estate Investment Trusts (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 129 and 130 together. Finance Act 2013 introduced the regime for Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment via a...

Written Answers — Department of Finance: IBRC Legal Cases (6 Sep 2019)

Paschal Donohoe: I am advised by the Special Liquidators that a settlement agreement was entered into between the parties to the proceedings and, due to the confidentiality provisions in the settlement agreement, its terms cannot be referred to.

Written Answers — Department of Finance: IBRC Legal Cases (6 Sep 2019)

Paschal Donohoe: Since the date of the Special Liquidation in 2013, IBRC has reduced the number of legal cases under active management from over 1,100 to approximately 82 sets of legal proceedings (comprising 63 cases as defendant, 19 recovery and enforcement actions) and one alternative dispute resolution case. Many of these proceedings are high profile and/or are of significant value, involving former...

Written Answers — Department of Finance: IBRC Operations (6 Sep 2019)

Paschal Donohoe: On 11 March 2015, Life Company Consolidation Group Limited (“LCCG”), through its Irish subsidiary, Life Company Consolidation Group Ireland Limited, acquired the entire share capital of IBRC Assurance Company Limited (“IBRCAC”) from IBRC (in Special Liquidation). Following the sale in March 2015 IBRCAC was renamed Harcourt Life Assurance Company Limited. The...

Written Answers — Department of Finance: Credit Union Regulation (6 Sep 2019)

Paschal Donohoe: As the Deputy is aware, credit unions are regulated and supervised by the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability, and to protect the savings of credit union members. ...

Written Answers — Department of Finance: Tax Data (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 135 to 142, inclusive, together. I understand that all of these questions relate to the potential sale of one specific company.  I have been advised by Revenue that due to Revenue’s requirement to protect taxpayer confidentiality under section 851A Taxes Consolidation Act 1997, and due to the fact that this transaction has not yet taken place, it...

Written Answers — Department of Finance: Tax Collection Forecasts (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that a Ready Reckoner providing estimated impacts for potential changes to a wide range of taxes and duties is available at www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf. Regarding your question on stamp duty, the Ready Reckoner provides the estimated impact of increasing the rate of Stamp Duty on the excess of considerations on residential...

Written Answers — Department of Finance: Departmental Internships (6 Sep 2019)

Paschal Donohoe: I wish to inform the Deputy that the Department of Finance does not offer unpaid internships. The Economics Division of the Department of Finance has offered a twelve week paid internship to the successful candidate in its Economic Policy Competition each year since 2014. This is an essay-based competition that assesses undergraduate students’ understanding of the Irish economy. The...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (6 Sep 2019)

Paschal Donohoe: The Employment Investment Incentive Scheme (‘EII’) is a scheme that is covered by Article 21 of Commission Regulation No 651/2014 of 17 June 2014, declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty (referred to as the “General Block Exemption Regulation” or “GBER”). Revenue has...

Written Answers — Department of Finance: Cyber Security Protocols (6 Sep 2019)

Paschal Donohoe: In relation to my Department, I wish to advise that ICT services are provided by the Office of the Government Chief Information Officer (OGCIO) under the Department of Public Expenditure and Reform. On behalf of my Department the OGCIO has specialist resources, with the appropriate skills and expertise, tasked with managing cyber security. OGCIO implements a defence-in-depth...

Written Answers — Department of Finance: Departmental Operations (6 Sep 2019)

Paschal Donohoe: My Department has developed a business continuity management system policy framework on business resilience and continuity management, and also has an incident management plan, which sets out the Department's pre-determined actions to providing a response system to an incident or emergency occurring that could potentially affect its operations.  Work is currently...