Results 14,641-14,660 of 34,135 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Stamp Duty (16 Oct 2019)

Paschal Donohoe: Budget 2020 introduced a measure to impose a stamp duty charge where the acquisition of a (target) company is effected by means of a particular type of scheme of arrangement under Part 9 of the Companies Act 2014, which came into effect on 9 October 2019 by way of financial resolution.  This type of scheme of arrangement involves the (target) company entering into an arrangement whereby...

Written Answers — Department of Finance: Stamp Duty (16 Oct 2019)

Paschal Donohoe: Section 83D of the Stamp Duties Consolidation Act 1999 provides for a refund (through the Residential Development Stamp Duty Refund Scheme) of up to two thirds, where the rate of Stamp Duty paid on the transfer of non-residential land is 6%, and the land is used to develop dwelling units. I am advised by Revenue that the number of persons that have applied for a refund under the Scheme...

Written Answers — Department of Finance: Tax Code (16 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 94 and 95 together. The Retail Export Scheme allows persons who are resident outside the EU and who make purchases of goods in the EU to avail of a refund of the VAT charged on these goods where the goods are exported from the EU by the tourist or traveller within three months of purchase. The UK will become a 3rd country and UK residents will become...

An tOrd Gnó - Order of Business (15 Oct 2019)

Paschal Donohoe: I can deal with the poverty-proofing of the budget. The Department of Public Expenditure and Reform looked at the impact of the budget on different income groups. Our analysis was that the budget would not have a regressive impact on the vast majority of people. The ESRI's analysis, to which the Deputy referred, did not take account of service improvements.

An tOrd Gnó - Order of Business (15 Oct 2019)

Paschal Donohoe: For example, it did not take account of the changes in the national childcare scheme. It focused on matters from a purely income distribution point of view. It did not look at any service improvements that the budget is looking to deliver.

An tOrd Gnó - Order of Business (15 Oct 2019)

Paschal Donohoe: I am happy to make that information available.

Written Answers — Department of Finance: NAMA Portfolio (15 Oct 2019)

Paschal Donohoe: As the Deputy may be aware, NAMA does not own property, rather NAMA has acquired loans for which properties act as security. I am advised by NAMA that its debtors and receivers control a small number of properties in Newbridge, County Kildare.  Under Sections 99 and 202 of the NAMA Act, NAMA is prohibited from disclosing confidential debtor information, including information on...

Written Answers — Department of Finance: Tax Reliefs Data (15 Oct 2019)

Paschal Donohoe: Section 50 of Finance Act 1999 provided for a student accommodation scheme whereby expenditure incurred on student rental accommodation can be set against the rental income from the property and against other Irish rental income, thus reducing the taxable income of the person incurring the expenditure. The relevant provisions in the Taxes Consolidation Act 1997 are contained in Part...

Written Answers — Department of Finance: Insurance Costs (15 Oct 2019)

Paschal Donohoe: At the outset, it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation and my Department does not collect or publish the type of information being sought by the Deputy. However, the Central Statistics Office, does track the cost of insurance to consumers as part of the Consumer Price Index (CPI). My...

Written Answers — Department of Finance: Carbon Tax Implementation (15 Oct 2019)

Paschal Donohoe: As part of a joint research programme between the Department of Finance, the Revenue Commissioners and the Economic and Social Research Institute (ESRI), the ESRI published research on the impacts of increases in the carbon tax, including distributional impacts. This research paper can be accessed at: . I recognise that the research points to carbon tax increases disproportionately...

Written Answers — Department of Finance: Carbon Tax Implementation (15 Oct 2019)

Paschal Donohoe: In Budget 2020 I announced that the revenues from the increase in the carbon tax from €20 to €26 per tonne CO2 would be ring fenced and the funds used to: - Protect the most vulnerable in society; - Just Transition; and - Investing in low carbon transition On 9 October 2019, the Department of Public Expenditure and Reform published "The carbon tax increase - what it will be...

Written Answers — Department of Finance: Corporation Tax Regime (15 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 132, 156 and 157 together. The OECD is currently undertaking a significant project to address the tax challenges of the digital economy. The work is being divided across two Pillars – Pillar One and Pillar Two. I understand that the deputy is referring to the public consultation document published on 9 October in respect of the ‘Pillar...

Written Answers — Department of Finance: Tax Exemptions (15 Oct 2019)

Paschal Donohoe: I am advised by Revenue that two specific reliefs are provided for in section 134(1), Finance Act 1992 in respect of persons transferring their residence to the State and transferring a business into the State. Qualifying conditions are set out in Statutory Instrument No. 59 of 1993 Vehicle Registration Tax (Permanent Reliefs) Regulations, 1993 in respect of transfer of residence (regulation...

Written Answers — Department of Finance: Tax Data (15 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 134 to 136, inclusive, together. Regarding the Deputy's question on the amount of revenue raised from taxation on rental income in each of the years 2011 to 2018 and to date in 2019, I am informed by Revenue that income tax is calculated on the total income of a taxpayer; total income can arise from multiple income sources that are not separately identified on...

Written Answers — Department of Finance: Insurance Coverage (15 Oct 2019)

Paschal Donohoe: The Deputy will be aware that the provision of insurance is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are willing to accept. This assessment will in many cases include insurers own presumptions based on their private modelling and research. Consequently, neither I, as Minister for Finance, nor the Central Bank can interfere in the...

Written Answers — Department of Finance: Insurance Costs (15 Oct 2019)

Paschal Donohoe: At the outset, it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation and my Department does not collect the type of information being sought by the Deputy. I understand that the Central Bank does not collect such information either. Therefore, I am unable to provide the Deputy with information on the...

Written Answers — Department of Finance: Civil Service Staff Data (15 Oct 2019)

Paschal Donohoe: I wish to inform the Deputy that the number of full-time and part-time civil servants the Department of Finance has recruited by grade in each of the years 2014 to 2018 and to date in 2019; the number of full-time and part-time civil servants the Department of Finance has lost due to retirement by grade in the same period is outlined in the attached document. ">Recruitment

Written Answers — Department of Finance: Tax Data (15 Oct 2019)

Paschal Donohoe: I am advised by Revenue that the Stamp Duty charge on cheque payments in 2018 amounted to almost €13 million. Revenue has also confirmed that the annual cost to the Exchequer would be broadly similar if the charge was abolished.

Written Answers — Department of Finance: Universal Social Charge Application (15 Oct 2019)

Paschal Donohoe: Section 531AN of the Taxes Consolidation Act (TCA) 1997 provides for a reduced Universal Social Charge (USC) rate of 2% on all income above €12,012, where a person’s total income in a year does not exceed €60,000 and where the person is aged 70 or over or holds a full medical card. A rate of 0.5% on the first €12,012 of income applies to all taxpayers. Revenue...

Written Answers — Department of Finance: Budget 2020 (15 Oct 2019)

Paschal Donohoe: In Budget 2020 I announced policy changes to a number of taxation measures, to include Income Tax; Corporation Tax; Capital Gains Tax; and Excise Duties, with the objective of supporting Enterprise, SMEs and the Agri-sector. The combined cost (€30 million in 2020) of the policy changes was provided in the Budget 2020 Summary of Taxation Measures document, which was published on Budget...