Results 1-20 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Bodies (15 May 2025)

Paschal Donohoe: Within the last 10 years, two State Agencies have been established by my department, the Financial Services and Pensions Ombudsman and Home Building Finance Ireland. The Financial Services and Pensions Ombudsman (FSPO) is an independent statutory body established by the Financial Services and Pensions Ombudsman Act 2017. Its remit is to resolve complaints from consumers, including small...

Written Answers — Department of Finance: Tax Code (15 May 2025)

Paschal Donohoe: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. RZLT is designed to prompt residential development by owners of land that satisfies the relevant criteria for the tax, that being that the land is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate...

Written Answers — Department of Finance: Tax Collection (15 May 2025)

Paschal Donohoe: Section 132(2) of Finance Act 1992 (as amended) provides that Vehicle Registration Tax (VRT) becomes due and payable, by the person registering or declaring that vehicle in the State, at the point when that vehicle is registered or declared. All motor vehicles must be registered within 30 days of their date of entry into the State. When a new vehicle is purchased, the motor dealer...

Written Answers — Department of Finance: Real Estate Investment Trusts (14 May 2025)

Paschal Donohoe: The rules relating to Real Estate Investment Trusts (REITs) in Ireland are contained in Part 25A of the Taxes Consolidation Act 1997. The purpose of the REIT regime is to allow for a collective investment vehicle which provides a comparable after-tax return to investors as direct investment in rental property, by eliminating the double layer of taxation at corporate and shareholder level...

Written Answers — Department of Finance: Tax Reliefs (14 May 2025)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they require to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C of the Taxes Consolidation Act outlines the definitions and...

Written Answers — Department of Finance: Tax Yield (14 May 2025)

Paschal Donohoe: EU law sets out the framework under which Member States are obliged to apply excise duty on alcohol products. In Ireland the excise duty takes the form of Alcohol Products Tax (APT) as provided for in Chapter 1 of Part 2 of the Finance Act 2003. Council Directive 92/83/EEC, also known as the “Alcohol Structures Directive”, lays down a harmonised approach for the...

Written Answers — Department of Finance: Tax Yield (14 May 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within the certain listed categories to which Member States may apply a lower rate. The wholesale or retail supply of alcohol products...

Written Answers — Department of Finance: Departmental Contracts (14 May 2025)

Paschal Donohoe: My department currently procures the vast majority of its IT equipment using Government Framework competitions put in place by the Office of Government Procurement. Some ICT services, advice and support, including additional IT equipment procured within the Department of Finance, are provided by the Office of the Government Chief Information Officer (OGCIO) under the Department of Public...

Written Answers — Department of Finance: National Treasury Management Agency (14 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 42 to 47, inclusive, together. For some background on the proposed development I refer the Deputy to the responses given by the then Ministers for Finance to Parliamentary Questions reference numbers 23419/25, 28575/24 and 26235/24. As the Deputy is presumably aware, the Ireland Strategic Investment Fund (ISIF) has invested in GMC on a commercial basis...

Written Answers — Department of Finance: State Claims Agency (14 May 2025)

Paschal Donohoe: The NTMA have informed me that the State Claims Agency publishes details on the amounts paid each year, in respect of costs incurred in resolving and managing ongoing active claims, in the National Treasury Management Agency ("NTMA") Annual Report and Financial Statements. In this connection they refer you to page 53 of the 2022 NTMA Annual Report and Financial Statements and page 55 of the...

Written Answers — Department of Finance: State Bodies (14 May 2025)

Paschal Donohoe: The Motor Insurers’ Bureau of Ireland (MIBI) is a not-for-profit organisation, established to compensate the victims of road traffic accidents caused by uninsured and unidentified vehicles. Officials in my Department have engaged with the MIBI, who have confirmed that the total compensation provided by the MIBI between 2021 and 2023 is as set out in the following table: ...

Written Answers — Department of Finance: Personal Injury Claims (14 May 2025)

Paschal Donohoe: The Motor Insurers’ Bureau of Ireland (MIBI) is a not-for-profit organisation, established to compensate the victims of road traffic accidents caused by uninsured and unidentified vehicles. At the outset, it is important to note that the Personal Injuries Guidelines are developed by the Judicial Council, which is independent in its functions. The Personal Injuries Guidelines,...

Written Answers — Department of Finance: Personal Injury Claims (14 May 2025)

Paschal Donohoe: The National Treasury Management Agency (NTMA) have informed me that if the amended Personal Injuries Guidelines were to come into effect, there will be a financial impact for the State authorities for whom the State Claims Agency manages claims. The amended Guidelines provide for an across-the-board increase in damages of 16.7%, reflecting the increase in the HICP in the years since the...

Written Answers — Department of Finance: Business Supports (14 May 2025)

Paschal Donohoe: Capital Gains Tax(CGT) relief is provided for in sections 598 and 599 TCA 1997 and is commonly referred to as ‘retirement relief’. However, a taxpayer does not have to retire in order to qualify for this relief. The relief may apply on the disposal, by way of sale or gift, of qualifying assets once the individual making the disposal is at least 55 years of age and has owned and...

Written Answers — Department of Finance: Tax Avoidance (14 May 2025)

Paschal Donohoe: The Finance Act 2016 made certain changes to the taxation of qualifying companies, within the meaning of section 110 Taxes Consolidation Act 1997 (“TCA 1997”). The changes, which included the introduction a new subsection (5A) in section 110, relate to the taxation of profits derived from the business of qualifying companies that involve the holding, managing or both the holding...

Written Answers — Department of Finance: Departmental Data (14 May 2025)

Paschal Donohoe: In general, any entity involved in the business of providing credit to consumers has to be authorised as a credit institution, a credit union or a retail credit firm. Any non-bank or non-retail credit firm who subsequently services or acquires the legal title to the rights of the creditor under such a credit agreement has to be authorised as a credit servicing firm. In its...

Written Answers — Department of Finance: Data Protection (14 May 2025)

Paschal Donohoe: I am informed by the Revenue Commissioners that Revenue is aware of and complies with its obligations under data protection legislation (i.e. the Data Protection Acts 1988 to 2003 and, from May 2018, the General Data Protection Regulation and Data Protection Act 2018). Revenue reports the personal data breach statistics to the Data Protection Regulator, who publish these figures. There is...

Written Answers — Department of Finance: Data Protection (14 May 2025)

Paschal Donohoe: I am advised by the Revenue Commissioners that it operates multiple telephone lines dedicated to different taxes and duties. Each phone line informs taxpayers that “for quality and customer satisfaction purposes, this call may be recorded”. During telephone interactions, the taxpayer’s identity will be verified in order to discuss potential confidential matters. The...

Written Answers — Department of Finance: Tax Data (14 May 2025)

Paschal Donohoe: I note that the Deputy has confirmed that he is referring to the Annual Progress Report that was published by the Department of Finance on 6 May. I also note that his query is in relation to tax measures expiring in 2026. As is standard practice, the Annual Progress Report (APR) fiscal projections do not reflect additional costs of tax policy measures above that which was provided for in...

Written Answers — Department of Finance: Tax Code (14 May 2025)

Paschal Donohoe: I am advised by Revenue that providing an exact cost of the flat rate expenses regime is not possible due to the way in which flat rate expenses are claimed on Form 11 tax returns, which does not allow for complete disaggregation of allowable expenses in a manner that would be required to provide such an estimate. However, on a best effort basis an approximate cost of €75.5...