Results 19,341-19,360 of 32,983 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Collection (29 May 2018)

Paschal Donohoe: The only foreign artiste withholding tax which Ireland has is the film withholding tax (“FWT”). FWT is a 20% withholding tax that applies for certain payments to non-resident artistes. FWT only applies to non-resident artistes, who are resident outside the EU/EEA and who are engaged by companies qualifying for the film tax credit under section 481 TCA. It does not apply to...

Written Answers — Department of Finance: Mortgage Resolution Processes (29 May 2018)

Paschal Donohoe: The definition of a non-performing buy to let loan is the same as that of any other credit exposure and applies to exposures which are more than 90 days past-due; and/or the borrower is assessed as unlikely to pay their credit obligations in full without realisation of collateral, regardless of the existence of any past-due amount or of the number of days past due. In relation to the second...

Written Answers — Department of Finance: Tax Rebates (29 May 2018)

Paschal Donohoe: I am advised by Revenue that the refunds in question were approved and processed on 23 May 2018. The refunds will be credited to the person’s bank account in the coming days.

Written Answers — Department of Finance: Mortgage Repayments (29 May 2018)

Paschal Donohoe: Mortgage and other loan agreements will contain terms for the repayment of the credit, including in relation to the timing and frequency of the repayments. It would also be open to the parties to agree any adjustment to the repayment terms as considered desirable during the life of the credit agreement. The Central Bank advises that there are no particular regulatory measures governing...

Written Answers — Department of Finance: Banking Sector Regulation (29 May 2018)

Paschal Donohoe: I have been advised by the Central Bank of Ireland that under Provision 14(1)(h) of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (‘Mortgage Credit Regulations’), the lender must make available to the borrower, on paper or another durable medium, “an indication of possible further costs, not included in the total cost of the credit to the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (29 May 2018)

Paschal Donohoe: The qualifying provisions for the Disabled Drivers and Passengers Scheme are contained in Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994). Regulations 8 (disabled drivers), 10 (disabled passengers) and 12 (organisations) provide that a vehicle must be “purchased” by the person or organisation. Revenue...

Written Answers — Department of Finance: Vehicle Registration (29 May 2018)

Paschal Donohoe: I am advised by Revenue that, for the majority of vehicles, vehicle registration tax (VRT) is charged on the open market selling price (OMSP) of the vehicle which is defined in section 133, Finance Act 1992 as the price of the vehicle, including all taxes and duties, that a manufacturer or distributor can reasonably expect to fetch on a first arm’s length sale by retail. The...

Written Answers — Department of Finance: National Economic Dialogue (29 May 2018)

Paschal Donohoe: The National Economic Dialogue 2018 will take place on 27-28 June. The Dialogue will be an opportunity for stakeholders from a variety of backgrounds to consider how to optimise available resources in the interests of all citizens. Several civic society bodies representing community and voluntary groups, employers, trade unions, agriculture and the environmental groups have been invited,...

Written Answers — Department of Finance: VAT Yield (29 May 2018)

Paschal Donohoe: I am advised by Revenue that traders are not required to separately identify the yield generated from a particular activity or product type on their VAT returns. The information is therefore not available to provide an estimate of the VAT received from plastics and materials used in the production of fodder and silage. The VAT charged on plastics and materials used in the production of...

Written Answers — Department of Finance: Insurance Industry (29 May 2018)

Paschal Donohoe: The development of the National Claims Information Database is a complex project as insurers very often record data in different ways and do not necessarily use the same definitions. On 19 December 2017, the Government approved the General Scheme of the Central Bank (National Claims Information Database) Bill. The Bill is included in the Government Legislative Programme on the list of...

Written Answers — Department of Finance: Insurance Industry (29 May 2018)

Paschal Donohoe: I would like to clarify at the outset that it is possible for an insurance undertaking authorised in one member state to conduct business in another EU/EEA state either through: - establishing a branch operation in the host country and thus  conducting business on a ‘freedom of establishment’ (FOE) basis; or - writing business from the home country (i.e. where...

Written Answers — Department of Finance: Insurance Compensation Fund (29 May 2018)

Paschal Donohoe: Setanta Insurance was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that under the Insurance Act 1964, as amended, monies may be paid out of the Insurance Compensation Fund (ICF), with the approval of the High Court, in...

Written Answers — Department of Finance: Tax Code (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 167 and 168 together. I am advised by Revenue that income from investments - including rental income on property investments – made by approved pension funds is exempt from income tax by virtue of section 774(3) Taxes Consolidation Act 1997 (TCA).  Section 608(2) TCA grants exemption from capital gains tax on gains accruing on the disposal of...

Written Answers — Department of Finance: Irish Real Estate Fund (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 169 to 171, inclusive, together. In relation to 23207/18, the Irish Real Estate Fund (IREF) regime was introduced by Finance Act 2016 and takes effect for accounting periods commencing on or after 1 January 2017. I am advised by Revenue that where a fund has an accounting period that ended in the second half of 2017, the return and payment date for IREF...

Written Answers — Department of Finance: Home Building Finance Ireland (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 172, 173 and 184 together. As announced in my Budget speech on 10 October 2017, Home Building Finance Ireland (HBFI) is to be established to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding. Up to €750 million of ISIF funds will be allocated to HBFI to...

Written Answers — Department of Finance: Tax Reliefs Application (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 174 and 179 together. A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax expenditures published on Budget day 2016. The review may be found at the following link: (). The review concluded that: "...analysis of the scheme...

Written Answers — Department of Finance: Property Ownership (29 May 2018)

Paschal Donohoe: I am informed by the Central Bank that it is not aware of any particular industry standard governing the holding or retrieving of title deeds in respect of unencumbered property and such a matter is not covered by the Central Bank codes or other financial services regulatory framework. Matters relating to the framework for the registration and demonstration of ownership and title in property...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 176 and 178 together. In accordance with the relevant provisions of the Taxes Consolidation Act 1997, both the Start Your Own Business and Home Renovation Incentives are due to expire at the end of this year. As with all such time limited incentives, I will consider the possibility of their extension in the context of my preparations for the forthcoming...

Written Answers — Department of Finance: Deposit Interest Rates (29 May 2018)

Paschal Donohoe: Budget 2017 introduced a measure to reduce the rate of Deposit Interest Retention Tax (DIRT) over a 4 year period to reach 33 per cent by 2020. Accordingly, as part of the phased introduction of this policy, the planned reduction in the DIRT rate by 2 per cent in 2019 is estimated to represent a negative discretionary revenue measure of €6.4 million next year. A...

Written Answers — Department of Finance: Tax Reliefs Eligibility (29 May 2018)

Paschal Donohoe: Since 2011, professional membership fees are only deductible under section 114 of the Taxes Consolidation Act 1997 where they are incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. In the context of professional fees, this generally means where: - the duties of his or her employment necessitate that the employee is a...