Results 21,021-21,040 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: Section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 is the legislation underpinning the Temporary Wage Subsidy Scheme (TWSS). The Government’s priority in so far as the TWSS is concerned was, and is, to ensure that all employers experiencing significant negative economic disruption from COVID-19 can register for, and start to receive, payment quickly....

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 51 and 108 together. 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 Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 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 scheme builds on data returned to Revenue through its real-time PAYE system. It must be accepted that the underlying legislation and the scheme itself cannot be tailored to meet every individual unique set of circumstances for either employers or...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: Increasing the allowable threshold for accounting for VAT on a monies received basis would generate a once-off cash-flow cost to the Exchequer. I am advised by Revenue that, based on 2019 VAT returns, increasing the threshold from €2.0m to €2.25m could have a cash-flow cost in the region of €27m in the year in which the change is made.

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: I am informed by Revenue that the estimated yields from standard-rating discretionary tax reliefs and expenditures currently available at the marginal rate that cost in excess of €5 million per year are as shown in the following table. These yields are based on 2017 data. The estimates are tentative and do not account for alterations in taxpayer behaviour. Relief or...

Written Answers — Department of Finance: Property Tax (16 Jun 2020)

Paschal Donohoe: Revenue has deferred collection of 2020 Local Property Tax (LPT) liabilities that were scheduled for payment on 21 March 2020 via the electronic Annual Debit Instruction (ADI) option. The initial revised date for collection was 21 May 2020 but Revenue subsequently further extended the date to 21 July 2020 in response to the unfolding COVID-19 crisis. Revenue has advised me that arrangements...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is designed to support the objective of getting much needed financial assistance to employers and employees, where businesses have been seriously affected by the COVID-19 pandemic and the necessary restrictions introduced to fight the spread of the virus. The subsidy is operated by employers through their payroll and the amount due to each...

Written Answers — Department of Finance: Mortgage Lending (16 Jun 2020)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness. That assessment must take appropriate account of factors relevant to verifying the prospect of the consumer being able to meet his or her obligations under the credit...

Written Answers — Department of Finance: Home Building Finance Ireland (16 Jun 2020)

Paschal Donohoe: I am advised by HBFI that of the 70 loan applications received there are currently 12 pending decision. I am further advised that HBFI has approved approximately 50% of all valid applications received to date and that this approval level is standard for residential development lending and reflects the underlying risk profile of the projects. Loan applications are assessed on a case by case...

Written Answers — Department of Finance: Commencement of Legislation (16 Jun 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...

Written Answers — Department of Finance: Mortgage Lending (16 Jun 2020)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness. That assessment must take appropriate account of factors relevant to verifying the prospect of the consumer being able to meet his or her obligations under the credit...

Written Answers — Department of Finance: Mortgage Lending (16 Jun 2020)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness. That assessment must take appropriate account of factors relevant to verifying the prospect of the consumer being able to meet his or her obligations under the credit...

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: I am advised by Revenue that €209.2 million was collected in Carbon Tax for the period January to May 2020. This is an increase of €20.7 million over the same period in 2019. It is important to note that for the period January to May 2019 carbon tax was charged at €20 a tonne, while in the period January to May 2020 carbon tax on petrol and auto-diesel was charged at...

Written Answers — Department of Finance: Insurance Costs (16 Jun 2020)

Paschal Donohoe: At the outset it should be noted 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 EU framework for insurance (the Solvency II Directive) which expressly prohibits...

Written Answers — Department of Finance: Banking Sector (16 Jun 2020)

Paschal Donohoe: As the Deputy is aware, I have engaged and will continue to engage extensively with the Banking and Payments Federation (BPFI) and the banks directly in relation to supports for personal and business customers affected by the COVID-19 crisis. Furthermore, officials in my Department are alert to issues raised directly by the public and these inform the Department’s ongoing engagement...

Written Answers — Department of Finance: Tax Code (16 Jun 2020)

Paschal Donohoe: I am advised Revenue that an individual’s tax residence position is determined in accordance with the provisions of section 819 Taxes Consolidation Act 1997. In that regard, an individual’s tax residence status is determined by reference to his or her presence in the State during a particular tax year. For example, an individual will be considered tax resident in the State if...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: One of my main concerns currently is to ensure that SMEs have access to sufficient liquidity, and that access to credit for SMEs is maintained. While, as Minister for Finance, I have no function in the commercial decisions of banks, given the current COVID-19 crisis I have met with the CEOs of the 5 main banks and the Banking and Payments Federation of Ireland (BPFI). The banks assured me...

Written Answers — Department of Finance: Help-To-Buy Scheme (16 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 69 and 70 together. Section 477C of the Taxes Consolidation Act of 1997 provides for The Help to Buy scheme (HTB). HTB was initially announced on 19 July 2016 as part of the ‘Rebuilding Ireland: Action Plan for Housing and Homelessness’ and was due to terminate on 31 December 2019. However, in Finance Act 2019, I provided...

Written Answers — Department of Finance: Vehicle Registration Tax (16 Jun 2020)

Paschal Donohoe: I am informed by Revenue that the following National Car Testing Service (NCTS) Centres will reopen for VRT business from 15 June: Blarney, Waterford, Limerick, Ballymount, Greenhills, Galway, Letterkenny, Dundalk and, from 22 June, Enniscorthy and Ennis. As more details become available in respect of other NCTS Centres they will be updated on the Revenue website. I am further informed...

Written Answers — Department of Finance: Probate Applications (16 Jun 2020)

Paschal Donohoe: Revenue has advised me that there has been extensive correspondence in this case, the most recent of which issued to the relevant parties on 3 June 2020. Revenue has also spoken directly with the representatives in the case to confirm the details required in order to finalise the matter. Revenue has assured me that once the requested documentation is received it will have the matter dealt...