Results 15,081-15,100 of 32,961 for speaker:Paschal Donohoe

Written Answers — Department of Finance: VAT Rate Application (21 May 2019)

Paschal Donohoe: VAT is chargeable on supplies made to Public Bodies as a matter of course.  In general, public bodies are not taxable persons and their activities are therefore outside the scope of VAT and, therefore, they have no entitlement to VAT deductibility on their inputs even though VAT will have been charged on any invoices issued to them.  While the activities of a public body are...

Written Answers — Department of Finance: National Broadband Plan Implementation (21 May 2019)

Paschal Donohoe: Under the Fiscal Responsibility Act 2012, the Irish Fiscal Advisory Council (IFAC) has been assigned the monitoring and assessment functions required of an independent national fiscal institution under the Treaty on Stability, Co-ordination and Governance in the Economic and Monetary Union. The Act requires IFAC to “provide an assessment of whether the fiscal stance for the year...

Written Answers — Department of Finance: Brexit Preparations (21 May 2019)

Paschal Donohoe: In the context of extensive and detailed Brexit preparedness and contingency work across all Government Departments and Agencies, Revenue determined that in a ‘Central Case’ scenario (i.e. an orderly withdrawal of the UK from the EU, to include a transition period until the end of 2020), an additional 600 Revenue staff would be required. In September 2018, the Government granted...

Written Answers — Department of Finance: Tax Code (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 179 and 180 together. I am advised by the Revenue Commissioners that because data from tax returns do not provide a basis for compiling separate figures of the amount of Capital Gains Tax (CGT) liability associated with passive activity, there is no basis to provide an estimate of the yield that could be raised by increasing the rate (on passive gains) by 3%....

Written Answers — Department of Finance: Tax Code (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 181 to 184, inclusive, together. As there have been no subsequent developments in this area, the position remains the same as in my response to the Deputy's PQs regarding the same scenarios on 19 June 2018 which is as follows: In order to estimate the potential revenue from a wealth tax, it is necessary to identify the wealth held by individuals. As...

Written Answers — Department of Finance: Real Estate Investment Trusts (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 185 and 187 together. The regime for the operation of Real Estate Investment Trusts (REITs) in Ireland was introduced in Finance Act 2013. The framework for REITs is designed to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment through a corporate vehicle. The...

Written Answers — Department of Finance: Irish Real Estate Fund (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 186 and 188 together. Finance Act 2016 introduced the Irish Real Estate Funds (IREFs) regime. The regime provides that the profits arising to an Irish fund from Irish property remain within the charge to Irish tax. An IREF is an investment undertaking where 25% or more of the value of the assets is derived from real estate assets in the State. Generally,...

Written Answers — Department of Finance: Tax Data (21 May 2019)

Paschal Donohoe: I am advised by Revenue that tax returns do not record the onshoring of assets (or the year in which onshoring occurred). The available information is the amounts of capital allowances claimed in respect of intangible assets. The 80% cap on capital allowances was re-introduced in Finance Bill 2017 and it applies to all intangible assets acquired from 11 October 2017. It is important to...

Written Answers — Department of Finance: Corporation Tax Regime (21 May 2019)

Paschal Donohoe: Corporation Tax Loss Relief is provided for by Section 396 of the Taxes Consolidation Act (TCA) 1997. It allows for losses incurred in the course of business to be accounted for when calculating tax liabilities. Loss relief for corporation tax is a long standing feature of the Irish Corporate Tax system and is a standard feature of Corporation Tax systems in all OECD countries.  ...

Written Answers — Department of Finance: Corporation Tax Regime (21 May 2019)

Paschal Donohoe: In September 2018, I published Ireland’s Corporation Tax Roadmap. This roadmap takes stock of the changing international tax environment, outlines the actions Ireland has taken to date and the further actions that will be taken over the coming years to ensure that our corporation tax code is line with international best practices.  It outlines the various commitments we have made...

Written Answers — Department of Finance: Financial Services Sector (21 May 2019)

Paschal Donohoe: Section 126AA of the Stamp Duties Consolidation Act 1999 imposes an annual levy on certain financial institutions on the basis of the amount of deposit interest retention tax (DIRT) payable by them in a specified ‘base’ year. The levy is intended to raise a fixed annual yield of €150M.  In relation to the years 2017 and 2018, a rate of 59% was required to yield...

Written Answers — Department of Finance: Financial Services Regulation (21 May 2019)

Paschal Donohoe: The Central Bank's total funding requirement for financial regulation activity is determined on an annual basis by the resources required to discharge its legal responsibilities under domestic and EU law.  Section 32D and 32E of the Central Bank Act 1942, as amended, provide that the Central Bank Commission may make regulations relating to the imposition of levies and fees on the...

Written Answers — Department of Finance: Pensions Data (21 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 194 to 198, inclusive, together. Regarding Questions 21951/19, 21952/19 and 21955/19, I am advised by Revenue that the Ready Reckoner, available at link www.revenue.ie/en/corporate/information-about-revenue/statis tics/ready-reckoner/index.aspx, shows, on page 11, the estimated cost or yield from changing combinations of (i) the maximum tax relief available on...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (21 May 2019)

Paschal Donohoe: I have been advised by the Central Bank of Ireland (Central Bank) that in line with their mission of safeguarding stability and protecting consumers, the Central Bank's work on mortgage arrears spans its consumer protection, prudential supervision, and financial stability roles. Within the remit of the Central Bank’s responsibilities, the approach to mortgage arrears...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (21 May 2019)

Paschal Donohoe: The Code of Conduct on Mortgage Arrears (CCMA) is already a statutory Code that was put in place to ensure that lenders have fair and transparent processes in place for dealing with borrowers in or facing mortgage arrears.  Section 117 of the Central Bank Act 1989 provides the Central Bank with the power to impose Codes of Conduct, including the CCMA.  I am advised by the...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (21 May 2019)

Paschal Donohoe: I have been advised by the Central Bank of Ireland that Provision 39 of the Code of Conduct on Mortgage Arrears (CCMA) requires that a regulated entity must explore all of the options for alternative repayment arrangements that are offered by that particular regulated entity.  These options may include the types of alternative repayment arrangements outlined in Provision 39 (a) to...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (21 May 2019)

Paschal Donohoe: I have been advised by the Central Bank of Ireland that the Code of Conduct on Mortgage Arrears 2013 (CCMA) seeks to ensure that lenders have fair and transparent processes in place for dealing with borrowers in or facing mortgage arrears. All cases must be handled sympathetically and positively by the lender, with the objective at all times of assisting the borrower to meet his or her...

Written Answers — Department of Finance: Loan Books Purchasers (21 May 2019)

Paschal Donohoe: I am advised by the Central Bank that while there is no specific provision in the Central Bank’s codes which requires that a full file be received by the loan purchaser from the original lender, the General Principles of the Central Bank’s Consumer Protection Code 2012 provide that “a regulated entity must ensure that in all its dealings with customers and within the...

Written Answers — Department of Public Expenditure and Reform: Early Retirement Scheme (21 May 2019)

Paschal Donohoe: The terms and conditions as set out in the Collective Agreement on Redundancy Payments of June 2012, included a ban on public service re-employment for beneficiaries for two years and, thereafter, the prior consent of the Minister for Public Expenditure and Reform was required. In addition the Voluntary Redundancy Schemes of 2010 in the Health Sector also required the consent of the Minister...

Written Answers — Department of Public Expenditure and Reform: Election Expenditure (21 May 2019)

Paschal Donohoe: The final remuneration that Returning Officers receive for carrying out their duties in respect of the 2019 Local and European elections are not available as final accounts from Returning Officers are not due until six months after the election. The remuneration paid to Returning Officers’ for the 2014 European & Local Elections was €12.4m (this figure includes the...