Results 20,781-20,800 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The legislation underpinning the Temporary Wage Subsidy Scheme (TWSS) is contained in Section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020. Of necessity, the legislation and the scheme itself were developed very quickly to support the urgent Government objective of getting much needed assistance to employers and employees that have been seriously affected by the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is an emergency measure to deal with the impact of the COVID-19 pandemic on the economy. The underlying legislation and the scheme itself were developed within a very short timeframe to support the urgent Government objective of getting much needed assistance to employers and employees, where businesses have been seriously affected by the necessary...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 75 and 82 together. I am advised by Revenue that all cases which have applied for refunds under the Temporary Wage Subsidy Scheme (TWSS) and which were rejected on the basis of failing to meet the eligibility criteria are reviewed by Revenue. The TWSS builds on data returned to Revenue through its real-time PAYE system. It must be accepted that the underlying...

Written Answers — Department of Finance: Vehicle Registration (20 May 2020)

Paschal Donohoe: I am advised by Revenue that to register an imported used car, a person must bring the ‘foreign registration certificate’ or ‘certificate of de-registration’ (issued by the relevant registration authority in the other State) to the National Car Testing Service (NCTS) centre. In the context of the United Kingdom (UK), the required document is a...

Written Answers — Department of Finance: Insurance Coverage (20 May 2020)

Paschal Donohoe: I understand that the Deputy’s question is in relation to motor insurance. At the outset you should note that neither I, as Minister for Finance, nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses.  This position is reinforced by the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The Government’s priority in commencing the Temporary Wage Subsidy Scheme (TWSS) is to ensure that all employers experiencing significant negative economic disruption from COVID-19 can receive support payments as quickly as possible. The purpose of the scheme is to ensure that the relationship between employers and employees is maintained to the greatest extent possible so that...

Written Answers — Department of Finance: Retail Sector (20 May 2020)

Paschal Donohoe: The Government greatly appreciates the additional efforts of essential workers, front line staff and all those working during this difficult time. They are making a vital contribution to the State-wide response to the COVID-19 crisis.  However, currently, available resources are being focused on new initiatives to support those who are no longer in employment or who will have reduced...

Written Answers — Department of Finance: Commencement of Legislation (20 May 2020)

Paschal Donohoe: The Consumer Insurance Contracts Act 2019 was signed into law by the President on 26 December 2019. The Act provides the Minister for Finance with powers to appoint a date for the Act to come into operation, or to appoint different days to commence different provisions of the Act. At the end of January, I took the decision that the matter of when to commence the Act should be taken by the...

Written Answers — Department of Finance: Property Tax Collection (20 May 2020)

Paschal Donohoe: As the Deputy is aware, I do not have the authority to instruct the Revenue Commissioners to defer the collection of any tax that is legally collectible, including Local Property Tax (LPT), from those affected by the COVID-19 pandemic. I am, however, aware that Revenue has already deferred payment of LPT for residential property owners that meet their 2020 liability through the...

Written Answers — Department of Finance: Departmental Contracts (20 May 2020)

Paschal Donohoe: The Department of Finance has no record of payments or expenses being made to the person named in the PQ for services provided during the Covid-19 crisis. I wish to note that my response refers only to Department of Finance records and I cannot comment on behalf of other Government Departments.  

Written Answers — Department of Finance: Pension Levy (20 May 2020)

Paschal Donohoe: The pension fund levy was introduced in 2011 in the wake of the financial crash and at a time when the economy was in serious difficulties. Urgent action needed to be taken to preserve and boost jobs and it is an unavoidable fact that difficult economic situations require hard and very often unpopular decisions. All sectors of the economy had to contribute to the recovery plan and the levy...

Written Answers — Department of Finance: Bank Guarantee Scheme (20 May 2020)

Paschal Donohoe: Mr. David Tynan of PwC was appointed to the role of Assessor pursuant to the Anglo Irish Bank Corporation Act 2009 in November 2018. The Assessor's report was published on the Department of Finance website on 12 May 2020 and the overall conclusion of this report is that the fair and reasonable aggregate value of the transferred shares and the extinguished rights in the bank as...

Written Answers — Department of Finance: Insurance Industry (20 May 2020)

Paschal Donohoe: In response to the Deputy’s question, my officials contacted the Central Bank for information on this matter.  In their reply, the Central Bank indicated that as the information sought by the Deputy relates to their day-to-day supervisory work of (re) insurers, they are precluded from providing a response to your question.  They also noted that they do not divulge firm...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I am advised by Revenue that, notwithstanding any obligations imposed on the Revenue Commissioners under section 851A of the Taxes Consolidation Act 1997 or any other enactment relating to the confidentiality of taxpayer information, section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides that the names and addresses of all employers to whom a temporary wage...

Written Answers — Department of Finance: Banking Sector (20 May 2020)

Paschal Donohoe: An External Review of the SBCI was completed by EY. This was published on the website of the SBCI on the 18th May 2020, along with the SBCI Strategic Plan 2020-2025.

Written Answers — Department of Finance: VAT Rate Application (20 May 2020)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply.  In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within categories of goods and services specified in the Directive in respect of which Member States may apply a lower rate or exempt...

Written Answers — Department of Finance: Tax Collection (20 May 2020)

Paschal Donohoe: I am advised by Revenue that the amount collected in Carbon Tax in each of the years 2018 and 2019 is €431.1 million and €430.4 million respectively.

Written Answers — Department of Finance: Mortgage Interest Rates (20 May 2020)

Paschal Donohoe: Decisions in relation to mortgage lending are a commercial matter for lenders and are based on a number of factors, including the cost of borrowing. While interest rates in Ireland remain higher than in many other European countries, there has been significant reduction in interest rates on new mortgage lending over the last 4-5 years. For example, the new business interest rate,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is an emergency measure to deal with the impact of the COVID-19 pandemic on the economy. It builds on data returned to Revenue through the PAYE system and as such is a fully automated solution. The automated solution, which was developed in a very short timeframe in response to the pandemic, is designed around the dates specified in the legislation and...

Written Answers — Department of Finance: Tax Data (20 May 2020)

Paschal Donohoe: I am informed by Revenue that the Exchequer yield from the introduction of the additional taxes suggested by the Deputy is estimated to be in the region of €290 million in a full year. This yield assumes that that tax would be imposed on all non-principal private residences, excluding residential properties in the ownership of local authorities and approved housing bodies.