Results 20,221-20,240 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Credits (26 Nov 2019)

Paschal Donohoe: I propose to take Questions Nos. 153 to 155, inclusive, together. The One-Parent Family Tax Credit (OPFTC) was examined by the Commission on Taxation in 2009, and its role in supporting the labour market participation of single and widowed parents was acknowledged. The Commission therefore recommended that the credit should be retained, but that it should be allocated...

Written Answers — Department of Finance: Tax Code (26 Nov 2019)

Paschal Donohoe: Over the past 18 months, Revenue has been conducting a comprehensive review of the administratively based Flat Rate Expenses (FRE) regime.  Revenue has advised me that the purpose of the FRE review, which involved engagement with relevant representative bodies, is to ensure that the expenses granted to each employment category remain justified and appropriate to modern day employments...

Written Answers — Department of Finance: VAT Rate Application (26 Nov 2019)

Paschal Donohoe: Irish VAT legislation does not provide a zero rate for food supplement products; instead they are subject to the standard rate of VAT (23%). Shortly after the introduction of VAT, Revenue allowed the zero rate to be applied to certain food supplement products (vitamins, minerals and fish oils). This concessionary approach expanded as the market developed over the years and resulted in the...

Written Answers — Department of Finance: Property Tax Review (26 Nov 2019)

Paschal Donohoe: Earlier this year, the review of the Local Property Tax was completed by my Department in conjunction with the Departments of the Taoiseach, Public Expenditure & Reform and Housing, Planning & Local Government and the Revenue Commissioners and the report was published in April (available at ).  In accordance with its terms of reference, the review focused on the impact of...

Written Answers — Department of Finance: Central Bank of Ireland (26 Nov 2019)

Paschal Donohoe: I assume the Deputy is specifically referring to the Central Bank macro prudential rules on residential mortgage lending.  These mortgage lending measures have been put in place by the Central Bank by way of regulations made by the under section 48 of the Central Bank (Supervision and Enforcement) Act 2013.  While the 2013 Act requires the Bank to consult me before making...

Written Answers — Department of Finance: Special Savings Incentive Scheme (26 Nov 2019)

Paschal Donohoe: The special saving incentive account (SSIA) scheme opened on 1 May 2001 and entry closed on 30 April 2002. The accounts fully matured after a five year period between 1 May 2006 and 30 April 2007. The total cost of the scheme was €3.061bn. The following is a breakdown of the yearly cost of the scheme; Year Cost 2001 €71m ...

Written Answers — Department of Finance: VAT Rate Application (26 Nov 2019)

Paschal Donohoe: VAT is a tax on consumption and is applied to supplies made by a person and not to supplies received by them.  This is a feature of the VAT system itself, and as the Deputy will be aware it is not possible under EU VAT law, with which Irish VAT law must comply, to introduce VAT exemption based on services received, nor to introduce an exemption based on the recipient of a service....

Written Answers — Department of Finance: Tax Yield (26 Nov 2019)

Paschal Donohoe: I am advised by Revenue that the Capital Gains Tax receipts from individuals located in County Kerry for the years requested by the Deputy can be found at link: The same information for Capital Acquisitions Tax can be found at link: Revenue has also confirmed that information on Dividend Withholding Tax paid in respect of dividends on shares held by shareholders located in County Kerry is...

Written Answers — Department of Finance: Insurance Industry (26 Nov 2019)

Paschal Donohoe: In response to the Deputy’s question, my officials contacted the Central Bank for the information requested.  The Bank informed my Department that, since the Central Bank Reform Act 2010, which amended the Central Bank Act 1942, it has no role in promoting or monitoring competition in the Irish insurance market.  However, the Central Bank was in a position to provide the...

Written Answers — Department of Finance: Insurance Data (26 Nov 2019)

Paschal Donohoe: My officials consulted with the Central Bank of Ireland on the Deputy’s question.  In response, the Bank indicated that it does not have a role in monitoring the number of businesses that cannot obtain a quote for public and employer liability insurance and therefore does not have such data. I am very much aware that there are certain businesses that are having difficulties...

Written Answers — Department of Finance: Insurance Industry (26 Nov 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 therefore my Department does not have access to the type of information being sought by the Deputy.   My officials contacted the Central Bank on this matter and were advised that pursuant to Section 33AK of the Central...

Written Answers — Department of Finance: Corporation Tax (26 Nov 2019)

Paschal Donohoe: Details of corporation tax received by industry sector for the years 2013 to 2018, the most recent year for which data are available, are published in tabular form on Revenue’s website at the following link: This publication also includes information on net income tax, VAT and capital gains tax receipts by industry sector. The specific information requested by the Deputy is provided...

Written Answers — Department of Finance: Money Laundering (26 Nov 2019)

Paschal Donohoe: Statutory Instrument 110 of 2019, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019, was signed into law on 22 March 2019. These Regulations transpose Article 30 of the Fifth Anti-Money Laundering Directive and make legislative provision for the obligation that was first established in 2016, that corporate entities must...

Written Answers — Department of Finance: Insurance Fraud (26 Nov 2019)

Paschal Donohoe: At the outset, the Deputy should note that it would not be appropriate for me, as Minister for Finance, to comment on individual cases such as the one she refers to in the details supplied. In relation to the Deputy’s question regarding measures being taken to curb insurance fraud, I would note that the Cost of Insurance Working Group (CIWG) examined this issue as part of its...

Written Answers — Department of Finance: Tax Data (26 Nov 2019)

Paschal Donohoe: Ireland has one of the most progressive income tax systems in the developed world. A progressive system ensures that the burden of taxation falls most heavily on those with a higher ability to pay. It is my view that a broad-based, progressive income tax system, where the majority of income earners make some contribution but according to their means, is the most fair and sustainable income...

Written Answers — Department of Finance: Banking Sector (26 Nov 2019)

Paschal Donohoe: The Deputy may recall that my Department issued a Technical Note to the Committee on Finance, Public Expenditure & Reform and Taoiseach (FinPERT) in August 2018 which dealt with the potential consequences of changes to the treatment of Corporation Tax Loss relief in respect of banks. In answering the Deputy’s current parliamentary question I have used content included in this...

Written Answers — Department of Finance: Departmental Bodies (26 Nov 2019)

Paschal Donohoe: The Cost of Insurance Working Group (CIWG) was established in July 2016 to undertake a detailed examination of the factors contributing to the cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses, while bearing in mind the need to maintain a stable insurance sector.  It was...

Written Answers — Department of Public Expenditure and Reform: Public Spending Code (26 Nov 2019)

Paschal Donohoe: As part of the ongoing reform of Ireland’s public investment management systems, my Department has undertaken extensive work on the updating of the Public Spending Code.  The purpose of this update is to strengthen the existing guidance to better align with the realities of project delivery and with a particular focus on improved appraisal, cost estimation and...

Written Answers — Department of Public Expenditure and Reform: EU Funding (26 Nov 2019)

Paschal Donohoe: At the outset it is important to remind the Deputy that Ireland’s allocation of European Regional Development Funds have in the past, and will continue in the future, to support projects in all parts of Ireland. Moreover, in accordance with the EU Regulatory requirement, stakeholders at local, regional and national level will continue to have a key role in the planning,...

Written Answers — Department of Public Expenditure and Reform: Pension Provisions (26 Nov 2019)

Paschal Donohoe: As stated previously this appeal case relates to the awarding of pension increases by the company concerned. A request from the company seeking a pension increase is being considered at present by my Department. The outcome of this request may feed into the deliberations on the determination in this case. Accordingly, a determination on this case will be made as soon as possible...