Results 19,621-19,640 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Aid Investigations (16 May 2018)

Paschal Donohoe: The Government does not accept the Commission’s analysis in the Apple State aid Decision and has lodged an appeal in the European Courts. However, we have always been clear that we are fully committed to ensuring that recovery of the alleged Apple State aid takes place and have committed significant resources to ensuring this is achieved. Given the unprecedented scale of the recovery...

Written Answers — Department of Finance: Legislative Programme (16 May 2018)

Paschal Donohoe: 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 provide funding on market terms and the fund is estimated to...

Written Answers — Department of Finance: Cycle to Work Scheme Expenditure (16 May 2018)

Paschal Donohoe: The Deputy will recall that the Cycle To Work scheme came into operation on 1 January 2009. The scheme operates on a self-administration basis, and relief is automatically available provided the employer is satisfied that the conditions of their particular scheme meet the requirements of the legislation. There is no notification procedure for employers involved. This approach was taken with...

Written Answers — Department of Finance: Insurance Costs (16 May 2018)

Paschal Donohoe: The Deputy should note that in my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank can interfere in the pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on the risks they are willing to accept. However, it is...

Written Answers — Department of Finance: Insurance Industry Regulation (16 May 2018)

Paschal Donohoe: The second phase of the Cost of Insurance Working Group project culminated in the publication on January 25 of the Report on the Cost of Employer and Public Liability Insurance, following its approval by Government.  This Report makes 15 recommendations with 29 associated actions to be carried out, detailed in an Action Plan contained in the Report with agreed timelines for...

Written Answers — Department of Finance: Tax Reliefs Availability (16 May 2018)

Paschal Donohoe: As the Deputy will be aware, a comprehensive review of the Irish Corporate Tax system, undertaken by Mr Seamus Coffey as an independent expert, was published in 2017. The terms of reference for the Review of Ireland’s Corporation Tax Code included: tax transparency; avoiding preferential treatment; further implementing Ireland’s international commitments; delivering tax...

Written Answers — Department of Finance: Tax Code (16 May 2018)

Paschal Donohoe: The Deputy will be aware that on 21 March the European Commission published two proposed Directives which seek to tax certain digital activities differently within the EU. One, a ‘temporary’ solution for a 3% levy on turnover from certain digital service activities. The second, "comprehensive solution" requires an overhaul of international taxation, establishing the concept of...

Written Answers — Department of Finance: Insurance Compensation Fund (16 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: Legislative Programme (16 May 2018)

Paschal Donohoe: I am pleased to say that the General Scheme of a Rainy Day Bill has been prepared. I have circulated my proposals with a view to bringing them to Government in the coming weeks for a decision on drafting, in parallel with pre-legislative scrutiny. The Bill will provide the necessary legislative underpinning for the Fund. My intention remains to transfer €1.5...

Written Answers — Department of Finance: Local Authority Housing Provision (16 May 2018)

Paschal Donohoe: Housing policy is a matter for the Minister for Housing, Planning and Local Government. The Government’s primary response to the current issues in the housing market is contained in ‘Rebuilding Ireland: An Action Plan for Housing and Homelessness’. Under Rebuilding Ireland, a total of 33,437 social homes will be built out to 2021.  A further 16,566 will be...

Written Answers — Department of Finance: Property Tax Review (16 May 2018)

Paschal Donohoe: At the outset, I wish to outline Ireland’s position regarding the distribution of wealth. In 2013, the Central Statistics Office conducted the Household Finance and Consumption Survey (HFCS), which provided the first comprehensive data on Irish household wealth. The net wealth Gini coefficient is a commonly used measure of inequality, where a figure of 100 indicates that one...

Written Answers — Department of Finance: Legislative Programme (16 May 2018)

Paschal Donohoe: I expect to bring my proposals for the general scheme of a Rainy Day Fund Bill to Government for decision in the coming weeks.  Following the consideration of Government, I would expect to forward the general scheme of the Bill to the Oireachtas for its consideration.  I would hope to progress the Bill quickly, but I am not yet in a position...

Written Answers — Department of Finance: Tax Reliefs Availability (16 May 2018)

Paschal Donohoe: Start-Up Relief for Entrepreneurs (SURE) is a tax relief for individuals who leave full-time employment and start up their own business. In general terms, relief under SURE is available for an individual who: - Gives up full-time employment elsewhere to take up full-time employment with the new company. - Sets up a new company to carry out a new trade. Therefore, companies that carry on a...

Written Answers — Department of Finance: Insurance Costs (16 May 2018)

Paschal Donohoe: I am aware of the concerns raised by the Deputy in relation to the financial strain which the cost of insurance may place on community, voluntary and charitable organisations, such as men’s sheds. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision...

Written Answers — Department of Finance: Commencement of Legislation (16 May 2018)

Paschal Donohoe: Sections 888 and 894 of the Taxes Consolidation Act (TCA) 1997 impose an obligation on lessors, lessees and agents in relation to rental property to return certain information in relation to rental income to Revenue. The persons obliged to return this information to Revenue include any Minister of the Government, the Health Service Executive, or any Local Authority or similar body which...

Written Answers — Department of Finance: Tax Yield (16 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 66 to 70, inclusive, together. The sugar-sweetened drinks tax applies to products if they satisfy three criteria. The first of which is the Customs Combined Nomenclature Code - the tax applies to fruit juices (CN Code 2009) and waters, including mineral and waters and aerated water (CN Code 2202). The second of which is if they contain added sugar,...

Written Answers — Department of Finance: Bank Charges (16 May 2018)

Paschal Donohoe: I have received the following response from AIB: " AIB adheres fully to the Mortgage Credit Regulation (MCR) and explicitly in relation to section26 – Early Repayment. The bank is satisfied any breakage costs charged do not exceed thefinancial loss incurred.There are a variety of different methodologies being applied within the market to calculatebreakage fees, and it is important to...

Written Answers — Department of Finance: Stamp Duty (16 May 2018)

Paschal Donohoe: As I have outlined in a number of PQ replies recently, the measure legislated for in section 68 of Finance Act 2017 (which was not a Budget measure) will allow a farmer to claim relief from stamp duty where he or she sells and purchases land for the purposes of consolidating an existing farm holding has been introduced, subject to a commencement order after a full consideration of any...

Written Answers — Department of Finance: Credit Availability (16 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 73 and 74 together. Supporting the availability of finance for SMEs is a cornerstone element of Government policy in our efforts to strengthen the economy and create jobs. My Department commissions biannual surveys to ascertain the demand for credit by SMEs. This survey series, most recently conducted by Fitzpatrick Consultants and Behaviour and Attitudes...

Written Answers — Department of Finance: Economic Competitiveness (16 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 75 and 78 together. The recovery in the Irish economy over the last number of years, in part, reflects the improvements in Ireland’s competitiveness. As of February 2018, Ireland’s competitiveness, as measured by the Central Bank’s Harmonised Competitiveness Index, has improved by approximately 19 per cent since 2008. The improvement...