Results 14,061-14,080 of 32,960 for speaker:Paschal Donohoe

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

Paschal Donohoe: Chapter 4 of Part 42 of the Taxes Consolidation Act (TCA) 1997 imposes a legal obligation on all employers to make deductions at source under the PAYE system from the payment of emoluments to employees and to report these amounts to Revenue as they are being paid. I am advised by Revenue that part-time lecturers/teachers/trainers are generally engaged under a contract of service...

Written Answers — Department of Finance: Pension Provisions (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that a person’s Irish tax position depends on the source of the taxable income involved and the tax residence and domicile position of the individual. For example, where a person is tax resident and domiciled in Ireland, s/he will be liable to Irish income tax on his or her worldwide income.  This is subject to any relief afforded by a Double Taxation...

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

Paschal Donohoe: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. The VAT Directive provides that VAT registration thresholds may only be raised by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation. Our VAT thresholds were increased to their current values, €37,500 for services and €75,000 for goods, on 1...

Written Answers — Department of Finance: Primary Medical Certificates Eligibility (6 Sep 2019)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a Fuel Grant, and an exemption from Motor Tax.  To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Fiscal Policy (6 Sep 2019)

Paschal Donohoe: The creation of the National Surplus (Exceptional Contingencies) Reserve Fund (known as the Rainy Day Fund) forms part of the Government’s policy to stabilise the public finances and increase the State’s resilience to external economic shocks. The Fund is intended as a reserve which may be drawn upon under certain circumstances, outlined under section 9(2) of...

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

Paschal Donohoe: The Special Assignee Relief Programme (SARP) was introduced in Budget 2012 as part of a strategy to promote Foreign Direct Investment into Ireland, and to allow us to compete internationally to attract highly skilled and mobile executives who act as key decision makers within organisations.   The measure provides income tax relief on a portion of income earned by employees, who...

Written Answers — Department of Finance: Excise Duties Yield (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the estimated yield from increasing Excise on diesel to the same level as that of petrol is shown on page 21 of the Revenue Ready Reckoner available at: .

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

Paschal Donohoe: The Standard Fund Threshold is the maximum allowable pension fund allowed at retirement for tax purposes and was introduced in Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements.   Information on the numbers and values of individual pension funds or on individual accrued benefits in pension schemes is not generally required to be supplied...

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

Paschal Donohoe: VAT returns are submitted to the Revenue Commissioners. As regards calculating the VAT impact of below cost sales of alcohol, separate figures are not available for input VAT on goods that were subsequently sold at a discount because traders’ VAT returns show only the total input VAT and the total output VAT for the period covered by the return.

Written Answers — Department of Finance: National Training Fund (6 Sep 2019)

Paschal Donohoe: As indicated in the Budget 2019 Tax Policy Changes the increase from 0.9 per cent to 1.0 per cent in the National Training Fund levy is expected to yield an additional €74m in 2020. The increase in the levy, therefore increases fiscal space as a discretionary revenue raising measure. Fiscal space represents the additional capacity arising from the permitted expenditure growth rate...

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

Paschal Donohoe: I am advised by Revenue that the amount raised in each of the last three years through Stamp Duty on leases, where the consideration is greater than €2,500, is provided in the following table.   Year Stamp Duty paid (million) 2018 €20.08 2017 €7.27 2016 €8.71 I assume that the Deputy is referring to the monthly residential rental...

Written Answers — Department of Finance: Research and Development Supports (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 163 and 164 together. The most recent data on the annual cost and the number of claimants of the Knowledge Development Box (KDB) for the years 2016 and 2017 are published on page 18 of Revenue’s paper on 2018 Corporation Tax payments and 2017 Corporation Tax returns. This information is available at...

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

Paschal Donohoe: At the outset, as the Deputy is aware neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This position is reinforced by the EU framework for insurance which expressly prohibits...

Written Answers — Department of Finance: Financial Services Regulation (6 Sep 2019)

Paschal Donohoe: Both the Government and the Central Bank of Ireland (Central Bank) are both strongly of the view that the current regulatory framework provides sufficient protections to consumers.  The Code of Conduct on Mortgage Arrears 2013 (CCMA) provides a strong consumer protection framework, aimed specifically at the process to be followed by relevant firms, to ensure borrowers in...

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

Paschal Donohoe: I propose to take Questions Nos. 167 and 168 together. 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 on the Revenue website at . On page 19 of the Ready Reckoner, a wide range of detailed information is shown on changing the Stamp Duty rate applicable to properties transferred in...

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

Paschal Donohoe: I am advised by Revenue that a 1% increase in the average effective rate of income tax on taxpayer units with gross incomes in excess of €400,000 would raise an estimated €37m and €49m on a first and full year basis respectively. This estimate is based on actual data for 2017, the latest year for which data are currently available. Taxpayers who are married or in a...

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

Paschal Donohoe: The matter of refundable tax credits was looked at in some detail in 2002 by the Working Group established under the Programme for Prosperity and Fairness. The Group was chaired by the Department of Finance and included representatives from ICTU, IBEC, the various farming organisations, the Community and Voluntary Pillar, relevant Government Departments and the Office of the Revenue...

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

Paschal Donohoe: I am advised by Revenue that the full year estimated yields from standard-rating discretionary tax reliefs and expenditures, which currently apply at the marginal rate, and cost in excess of €10 million per annum in revenue foregone, are as follows. Reliefs and Expenditures Full Year Yield (€m) Approved Profit-Sharing Schemes 24 Dispositions (including Maintenance Payments)...

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

Paschal Donohoe: It is assumed the Deputy is referring to the tax cost of the research and development tax credit. I am advised by Revenue that information in respect of the research and development tax credit, including the tax cost up to 2017 (the most recent year for which comprehensive data are available), can found in the research and development tax credits area of their website at:...

Written Answers — Department of Public Expenditure and Reform: Equality Proofing of Budgets (6 Sep 2019)

Paschal Donohoe: The ongoing work regarding Equality Budgeting in Ireland follows the Programme for a Partnership Government commitment to ‘develop the process of budget and policy proofing as a means of advancing equality, reducing poverty and strengthening economic and social rights’. The National Strategy for Women and Girls 2017-2020 also contains a related commitment.   The...