Results 14,501-14,520 of 32,961 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: I did not say that the Deputy did not make recognition of the fact that the industry rate is half of that which the banks are paying. I am contending that he did not give sufficient recognition of it, which I am as entitled to assess as he is allowed to assess what I am doing in this issue. On the consultation that is due to take place on the future of the stabilisation levy, these...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: I am still unclear.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: I am aware of all of that, but I wish to double-check. Is the Deputy proposing to amend the legislation I am introducing regarding the higher interest rate cap?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: The Bill we are introducing with the cap is a better way of dealing with the issue in the credit union movement. I will consider the Deputy's question and give a considered answer back-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union Sector: Discussion (2 Jul 2019)

Paschal Donohoe: ----- now that I fully understand the point he is making. Rather than responding now, I will revert to the Deputy with a response.

Written Answers — Department of Finance: Tax Forms (27 Jun 2019)

Paschal Donohoe: I am advised by Revenue that the new administrative arrangements for PAYE (PAYE Modernisation) started on 1 January this year. These new arrangements do not affect the way income tax and other statutory deductions are calculated under the PAYE system, but do change the way employers report payroll information to Revenue on or before each pay date. PAYE Modernisation has also streamlined...

Written Answers — Department of Finance: Tax Credits (27 Jun 2019)

Paschal Donohoe: I am grateful to the Deputy for clarification that this question relates to the basis and rationale behind the restriction which may preclude a dual income couple from claiming both the home carer credit and the increased standard rate cut-off point available for such couples. The home carer credit was introduced in Finance Act 2001 in tandem with the move towards individualisation of the...

Written Answers — Department of Finance: Revenue Commissioners Audits (27 Jun 2019)

Paschal Donohoe: I am advised by Revenue that its intervention options range from light touch Aspect Queries through to Investigations for cases of suspected serious tax and duty evasion. The intervention type used in any case is dependent on the level of risk identified and the taxpayer behaviour involved. Full details of Revenue’s suite of compliance interventions are set out in Chapter 2 of the Code...

Written Answers — Department of Finance: Budget Measures (27 Jun 2019)

Paschal Donohoe: A multitude of economic and social metrics play a role in the budgetary deliberations in my Department and across Government. Well-being is a complex, multi-dimensional concept and measuring it is no simple task. To address this, New Zealand has taken the approach of monitoring a broad range of economic, social and environmental metrics. This is also what my Department does. It is...

Written Answers — Department of Finance: Currency Regulation (27 Jun 2019)

Paschal Donohoe: Firstly, I would like to assure the Deputy that my Department is aware of the recent announcement relating to the cryptocurrency in question, and will continue to monitor developments ahead of its planned issuance in 2020. In March of last year, I announced the creation of the Blockchain & Virtual Currencies Working Group and tasked this Working Group with the role of examining...

Written Answers — Department of Finance: Fiscal Policy (27 Jun 2019)

Paschal Donohoe: In terms of the recent Fiscal Assessment Report (FAR) published by the Irish Fiscal Advisory Council, I can confirm for the Deputy that I have received the report and will be providing a formal response to the Council which will issue in due course. Earlier this week, I published the Summer Economic Statement (SES) 2019 which set out the approach that will be taken to the formulation...

Written Answers — Department of Finance: Tax Exemptions (27 Jun 2019)

Paschal Donohoe: In the form in which it is presented, the Deputy's question refers to two separate schemes, namely the Back to Work Enterprise Allowance (BWEA) scheme and the Start Your Own Business (SYOB) tax incentive scheme; however both share the common objective of encouraging enterprise by individuals. The former is operated under the auspices of the Minister for Employment Affairs and Social...

Written Answers — Department of Finance: Universal Social Charge Yield (27 Jun 2019)

Paschal Donohoe: I am advised by Revenue that the net receipts from the application of the USC in the last 5 years are as follows: Year USC €m 2014 3,647 2015 4,174 2016 3,968 2017 3,724 2018 3,739 The amount of revenue to be collected in 2019 from the application of the USC is currently estimated to be €3.9 billion.

Written Answers — Department of Finance: Revenue Commissioners Investigations (27 Jun 2019)

Paschal Donohoe: I am advised by Revenue that it carries out a full range of interventions to combat all types of tax evasion and non-compliance. This includes a clear focus on the practice of disguised employment and challenging the inappropriate classification of workers as self-employed contractors. Revenue has also advised me that it carries out significant numbers of outdoor ‘site’...

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (27 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 50 and 51 together. Where investment management and pension consultancy firms are providing regulated activities under financial services legislation these firms are authorised and regulated by the Central Bank in respect of these services. The Central Bank publishes the Registers of those firms authorised under the relevant financial services legislation. The...

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (27 Jun 2019)

Paschal Donohoe: The Central Bank of Ireland have provided the following tables setting out the number and details of enforcement proceedings by the Central Bank in each of the years since 2013 (to date). Enforcement actions against regulated firms and individuals under the Administrative Sanctions Procedure (ASP) Year Number Fines Imposed 2019 3* €22,526,189 2018 10 €7,441,000 2017 11...

Written Answers — Department of Public Expenditure and Reform: Financial Services Sector (27 Jun 2019)

Paschal Donohoe: I welcome the OECD Report of Financial Reporting in Ireland. My officials are currently considering the report and the recommendations, to consider options for implementation. The OECD Review of Financial Reporting in Ireland builds on the experience and knowledge acquired by the Budgeting and Public Expenditures Division of the OECD Directorate for Public Governance over past decades...

Written Answers — Department of Finance: Cycle to Work Scheme (26 Jun 2019)

Paschal Donohoe: The Cycle To Work scheme provides an exemption from tax on the first €1,000 of expenditure incurred by an employer in connection with the provision of a bicycle or safety equipment to an employee or director. The bicycle must be for the employee/director’s personal use in undertaking the whole or part of the journey to or from work. Safety equipment includes helmets, lights,...

Written Answers — Department of Finance: Central Bank of Ireland (26 Jun 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. Since...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (26 Jun 2019)

Paschal Donohoe: I am advised by Revenue that 10 companies granted qualifying share options under the Key Employee Engagement Programme (KEEP) to employees during 2018 (the first year of the scheme). In relation to the cost of the scheme to date, as no exercises of options have taken place to date, there has been no cost to the Exchequer in this regard. The KEEP legislation provides for an exemption from...