Results 21,421-21,440 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Revenue Commissioners (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that it currently operates 19 Dog Detector Teams, which includes one team working on behalf of the Department of Agriculture, Food and the Marine. A further 7 posts, which are vacant due to staff movements, are in the process of being filled. Statistics in relation to seizures by the Teams are compiled on an annual basis. The table below sets out the seizures secured...

Written Answers — Department of Finance: Value Added Tax (28 Jul 2020)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply.  The VAT Directive does not make specific provision for a reduced or zero rate to apply to safety equipment, including life saving equipment, and as such they are subject to the standard VAT rate, which is currently 23%.  However, for historic reasons the zero rate...

Written Answers — Department of Finance: Ministerial Briefing (28 Jul 2020)

Paschal Donohoe: I wish to advise the Deputy that a briefing document prepared by the Department of Finance was provided to me on my appointment as Minister for Finance. A copy of this document, having regard to the relevant provisions of the Freedom of Information Act 2014, is available from my Department’s website at the following link: . As such, the document will not be provided on an individual basis.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that over 63,000 employers have accessed the Temporary Wage Subsidy Scheme (TWSS) to date in respect of almost 627,000 employees. The numbers of employers availing of the scheme varies from week to week, depending on factors such as the pay frequencies that fall due, i.e. weekly, monthly, etc. For example, over 31,800 employers claimed the subsidy in respect of...

Written Answers — Department of Finance: EU Issues (28 Jul 2020)

Paschal Donohoe: I have consistently recognised that the international taxation system needs to adapt to account for changes in how business is conducted due to increased digitalisation in recent years. I strongly believe that the best way to achieve a sustainable solution is by securing global agreement.  The OECD BEPS Inclusive Framework is the forum in which can global agreement can...

Written Answers — Department of Finance: Covid-19 Pandemic (28 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, on 21stJuly 2020, Heads of State and Government reached agreement on the Post-2020 MFF and Next Generation EU, totalling €1.82 trillion. Difficult discussions took place over four days but I welcome this agreement and think this is a fair and balanced outcomeand demonstrates that Europe can work collectively to deal with this once-in-a-generation crisis....

Written Answers — Department of Finance: Covid-19 Pandemic (28 Jul 2020)

Paschal Donohoe: By social conditionality I take the Deputy to mean ensuring that a basic level of social protection for the most vulnerable people is included in Government decisions. The aim of the July Stimulus is to help get Ireland’s businesses back on their feet and get as many people back to work as quickly as possible. The package consists of over fifty measures and represents the...

Written Answers — Department of Finance: Insurance Industry (28 Jul 2020)

Paschal Donohoe: As the Deputy is aware, the “Programme for Government – Our shared Future” document lays out commitments that are aimed at addressing consumer and business concerns on the cost of insurance. These commitments include increasing transparency; reviewing duty of care legislation; looking at how to further enhance the role of the Personal Injuries Assessment Board, and...

Written Answers — Department of Finance: Pensions Reform (28 Jul 2020)

Paschal Donohoe: Personal Retirement Savings Accounts (PRSAs) are low cost, easy-to-access, private pension savings vehicles designed to allow individuals save for retirement flexibly and transfer their pension funds between jobs. They are available to anyone regardless of employment status. The relevant legislation setting out the treatment of PRSAs is contained in Chapter 2A of Part 30 of the Taxes...

Written Answers — Department of Finance: Value Added Tax (28 Jul 2020)

Paschal Donohoe: As I outlined previously in my answer to Parliamentary Question Nos. 104, 105 and 112 of 20 May 2020 and to Question No. 48 of 9 June 2020 the VAT rate changes implemented by Revenue following the European Commission Decision C (2020)2146, fully implemented the scope for zero rating imports of COVID-19 related goods permitted by the Decision and also implemented a corresponding temporary...

Written Answers — Department of Finance: Tax Code (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the first and full year yield from the Deputy’s proposal is estimated to be of the order of €210 million and €260 million respectively. These figures are based on tax returns for 2017. An exercise was undertaken using data from these returns to break down the gross incomes of taxpayer units to an individualised level and apply a...

Written Answers — Department of Finance: Universal Social Charge (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that if an additional 5% Universal Social Charge (USC) was applied to incomes in excess of €140,000, the estimated first and full year yields would be €228m and €300m respectively. This assumes that a surcharge would continue to apply to self-employed income above €100,000 in addition to the 5% USC rate suggested by the Deputy. These...

Written Answers — Department of Finance: Tax Code (28 Jul 2020)

Paschal Donohoe: Assuming the current system continues to operate as in 2020, Local Property Tax (LPT) would be expected to collect €485 million in 2021. These receipts would be lost if LPT was abolished.

Written Answers — Department of Finance: Property Tax (28 Jul 2020)

Paschal Donohoe: I am informed by Revenue that the Ready Reckoner, available at , shows the estimated amounts that could be raised by a charge on non-principal private residences (indicated as such by owners in their LPT returns). The Ready Reckoner shows the yield from a €100 per property charge and the yield from a €400 charge can be estimated on a pro-rata or straight line basis.

Written Answers — Department of Finance: Tax Code (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that a Ready Reckoner is available on the Revenue Statistics webpage at link: . This Ready Reckoner shows a wide range of detailed information, including on page 18, changes to the Stamp Duty rate on non-residential property. While the Ready Reckoner does not show the specific costings requested by the Deputy, these can be estimated on a pro-rata or straight-line...

Written Answers — Department of Finance: Pensions Data (28 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 250 and 251 together. The estimated full year yield for each of the proposed decreases in the ceiling for occupational pension schemes, RACs and PRSAs can be found on page 11 of the Revenue Ready Reckoner, published at the link: . They are also shown in the below table: Annual Earnings Cap for Pensions Contributions Full Year Yield...

Written Answers — Department of Finance: Help-To-Buy Scheme (28 Jul 2020)

Paschal Donohoe: The Help to Buy scheme (HTB) is an income tax incentive measure designed to assist first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The legislation originally contained a sunset clause for 31 December 2019. Finance Act 2019 section 477C of the Taxes Consolidation Act 1997 was amended to provide for a two...

Written Answers — Department of Finance: Tax Code (28 Jul 2020)

Paschal Donohoe: I am informed by Revenue that the annual cost of the Special Assignee Relief Programme (SARP) for 2012 to 2017 (the most recent year for which data are available) is as follows: Year €m 2012 0.1 2013 1.9 2014 5.9 2015 9.5 2016 18.1 2017...

Written Answers — Department of Finance: Mortgage Interest Relief (28 Jul 2020)

Paschal Donohoe: Mortgage interest relief (MIR) for persons with a qualifying mortgage loan on a principal private residence is only available on a tapered basis for loans taken out between 2004 and 2012. The relief will end on 31 December 2020. In 2019, 50% of the interest on a relevant loan qualified for relief while for 2020 the amount is tapered to 25%. I am advised by Revenue that the cost of MIR in...

Written Answers — Department of Finance: Tax Reliefs (28 Jul 2020)

Paschal Donohoe: The following table sets out details of the cost of the tax relief for trade union subscriptions in the seven years immediately prior to its end, including 2010 (in which year, the measure cost some €26 million): Year Cost (€ million) No. of  Claims 2004 10.7 248,300 2005 11.8 ...