Results 1,421-1,440 of 33,118 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Data (5 Feb 2025)

Paschal Donohoe: At the end of every year, Revenue makes a Preliminary End of Year Statement available to employees. The Preliminary End of Year Statement sets out a provisional tax position, based on information available on Revenue records. It will show whether an employee has paid the correct amount of Income Tax and Universal Social Charge (USC) for the year. I am advised by Revenue that the final...

Written Answers — Department of Finance: Legislative Reviews (5 Feb 2025)

Paschal Donohoe: Preliminary work was carried out on the preparation of a Central Bank Consolidation Bill in 2018. The project has not significantly advanced due to the need to deal with other national and EU legislative priorities, the resources needed inside and outside the Department to progress such a project including the involvement of the Oireachtas and the scope and extent of possible legislative...

Written Answers — Department of Finance: Pension Provisions (5 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the transfer of deferred benefits may be made from an occupational pension scheme or a Personal Retirement Savings Account (PRSA) to an overseas pension arrangement, once such a transfer complies with the Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations 2003, available at . The Regulations are under the...

Written Answers — Department of Finance: Tax Credits (5 Feb 2025)

Paschal Donohoe: The Residential Premises Rental Income Relief (RPRIR) provides relief, at the standard rate, on a portion of a landlord’s residential rental income. The relief is €3,000 in the tax year 2024, €4,000 in the tax year 2025 and €5,000 in the tax years 2026 and 2027, which is equivalent to a tax credit of up to €600, €800 and €1,000 respectively....

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: I have assumed that the Deputy is referring in his question to the OECD Pillar Two minimum tax rules, which were implemented in Ireland through the transposition of the EU Minimum Tax Directive in Finance (No. 2 Act) 2023. The Pillar Two rules apply to multinational groups and large-scale domestic groups that have annual revenue of €750 million or more in the consolidated financial...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the current position is that where a couple are jointly assessed and one spouse or civil partner dies during a tax year, the following treatment applies:In the year of bereavement, the widowed spouse or civil partner is entitled to the same personal tax credits as a married couple, if surviving spouse or civil partner is the assessable spouse or nominated...

Written Answers — Department of Finance: Departmental Reviews (5 Feb 2025)

Paschal Donohoe: In November of 2022, the Court of Justice of the European Union ruled that a provision of the EU anti-money laundering (AML) directive, under which information on the beneficial ownership of corporate and other legal entities held in central registers, must be provided to the general public, was invalid. The Court found that the provision interfered with the rights recognised in Articles 7...

Written Answers — Department of Finance: Pension Provisions (5 Feb 2025)

Paschal Donohoe: I am advised by Revenue that there has been no change to the manner in which payments from the Department of Social Protection (DSP) are taxed. The DSP State pension (contributory) is a taxable source of income, similar to other DSP payments including Jobseekers’ Benefit and Maternity Benefit. As such, it is liable to Income Tax (IT) although it is not subject to the Universal...

Written Answers — Department of Finance: State Assets (5 Feb 2025)

Paschal Donohoe: The purpose of the Insurance Compensation Fund (ICF) is to provide a certain minimum level of protection for insurance policy holders should an insurance company go into liquidation. The Fund also allows certain insurance company administrators to apply to the High Court for funding where necessary in order to enable them to meet their financial obligations as they arise. The Central Bank...

Written Answers — Department of Finance: Departmental Schemes (5 Feb 2025)

Paschal Donohoe: The Motor Insurers Insolvency Compensation Fund (MIICF) was established following the commencement of the Insurance (Amendment) Act 2018 (the 2018 Act). It is funded by contributions from those insurers who provide motor insurance in Ireland. Before the establishment of the MIICF, in the event of an insurance provider becoming insolvent, the maximum compensation that could be provided was 65%...

Written Answers — Department of Finance: Insurance Levy (5 Feb 2025)

Paschal Donohoe: I am advised by Revenue that section 124B of the Stamp Duties Consolidation Act 1999 provides for a Stamp Duty levy of 1% to be levied in respect of certain life insurance premiums paid to insurers. The levy is payable by the insurers to Revenue on a quarterly basis. It was introduced in 2009. The levy is applied to the premiums paid under certain classes of life insurance policies to the...

Written Answers — Department of Finance: Tax Data (5 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the Stamp Duties Consolidation Act 1999 (SDCA 1999) provides for the following stamp duties in relation to life insurance policies:Section 124B provides for a levy on certain premiums of life assurance. Under this section 1% of the premium is payable by the insurer.Section 2 and Schedule 1 provide for Stamp Duty on conveyance or transfer on sale of a policy of...

Written Answers — Department of Finance: Motor Industry (5 Feb 2025)

Paschal Donohoe: Motor finance provided through Hire Purchase including Personal Contract Plans (or 'PCPs') became a fully regulated activity in Ireland in May 2022 when the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022 came into force and made the activities of consumer hire and hire purchase a fully regulated activity by the Central Bank. The Consumer Protection...

Written Answers — Department of Finance: Financial Instruments (5 Feb 2025)

Paschal Donohoe: I have been informed by the Central Bank of Ireland, that it collects and publishes data on Financial Vehicle Corporations (FVCs) as defined in Regulation (EU) No 1075/2013 of the European Central Bank of 19 18 October 2013 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (recast). The full quarterly data series for...

Written Answers — Department of Finance: Departmental Contracts (5 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 301 and 302 together. I wish to advise the Deputy that my Department does not outsource service officer/security officer roles. In terms of cleaning services, the Department uses a private cleaning company. This contract has been in place since November 2022 following a competitive tendering process for a duration of two years with the option of two...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: The term “Exchange Traded Fund” or “ETF” is a general investment industry term that refers to a wide range of investments. ETF investments can take many different legal and regulatory forms even where they are established within the same jurisdiction. An ETF is an investment fund that is traded on a regulated stock exchange. A typical ETF can be compared to a...

Written Answers — Department of Finance: Departmental Data (5 Feb 2025)

Paschal Donohoe: I wish to inform the Deputy that Minister of State Neale Richmond claimed €6,154.25 in 2024. I wish to inform the Deputy that Minister of State Jennifer Carroll MacNeill claimed €10,896.62 in 2023, and €3,503.44 in 2024. In 2023 the cost of Overnight Allowances for Civilian Drivers in my Department was €2,672. In 2024 the cost of Overnight Allowances for...

Written Answers — Department of Finance: Departmental Staff (5 Feb 2025)

Paschal Donohoe: I wish to inform the Deputy that the composition of staff in my office comprises three staff assigned to the constituency office and nine staff in the Ministers private office. The grade and assignment of each staff member is listed in Table A. Civil Service salary scales apply to these posts and increment point is in line with the officers service. Table A Grade ...

Written Answers — Department of Finance: Tax Reliefs (5 Feb 2025)

Paschal Donohoe: Section 470 of the Taxes Consolidation Act 1997 provides for tax relief in respect of payments made to authorised insurers under relevant contracts in respect of medical insurance and dental insurance. Income tax relief is granted up to the standard rate of tax (currently 20%), subject to certain limitations outlined below, on the amount of the premium, that covers benefits being the...

Written Answers — Department of Finance: Tax Reliefs (5 Feb 2025)

Paschal Donohoe: I am advised by Revenue that there are a number of tax reliefs which support farmers who wish to acquire land for the purpose of their farming trade. These include reliefs from both Capital Gains Tax (CGT)and Stamp Duty. Capital Gains Tax Section 604B of the Taxes Consolidation Act 1997 (TCA 1997) provides relief from CGT in respect of gains arising on transactions undertaken to achieve...