Results 21,561-21,580 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Help-To-Buy Scheme (8 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 288 and 298 together. The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section...

Written Answers — Department of Finance: Tax Code (8 Sep 2020)

Paschal Donohoe: Index funds and Exchange Traded Funds (ETFs) are types of investment funds and are generally traded on a regulated stock exchange. The normal tax treatment afforded to Irish collective investment funds is that the funds invested are allowed to grow on a tax-free basis within the fund. The income is taxed at the level of the investor rather than the fund, as is standard international practice....

Written Answers — Department of Finance: Motor Insurance (8 Sep 2020)

Paschal Donohoe: 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 EU framework for insurance (the Solvency II Directive) which expressly prohibits Member...

Written Answers — Department of Finance: Carbon Tax Yield (8 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 292 and 297 together. The Programme for Government sets out increases in the carbon tax rate from 2021 to 2030, to reach €100 per tonne CO2 by 2030. This is to be achieved by an annual increase of €7.50 per tonne CO2 in each year from 2021 to 2029 and an increase of €6.50 per tonne CO2 in 2030. The practice to date has been to increase...

Written Answers — Department of Finance: Employment Data (8 Sep 2020)

Paschal Donohoe: I am advised by Revenue that it uses the European ‘NACE’classification system for categorising activities and sectors. Based on this classification which assigns taxpayers according to their main activity, in 2018 there were approximately 2,100 self-employed taxpayers in the categories ‘Performing Arts’and ‘Support Activities to Performing Arts’. In...

Written Answers — Department of Finance: Charitable and Voluntary Organisations (8 Sep 2020)

Paschal Donohoe: The Government announced as part of a package of measures to assist the hospitality sector that court fees, excise licence duties and stamp duties relating to the renewal of pub and other liquor licences in 2020 would be waived. The relevant court fees, excise duties and stamp duties are as follows: - Court certificate for renewal of pub licence (where required) - €150 - Public...

Written Answers — Department of Finance: Tax Collection (8 Sep 2020)

Paschal Donohoe: I am advised by Revenue that the tax overpayment to which the Deputy is referring arose following the early withdrawal of a private pension by the person in question. Revenue has confirmed to me that the matter has been fully resolved through direct engagement with the person and the overpaid amount was refunded to him on 7 August 2020 through his employer.

Written Answers — Department of Finance: Property Tax (8 Sep 2020)

Paschal Donohoe: A review of the Local Property Tax was completed by my Department in conjunction with the Departments of the Taoiseach, Public Expenditure & Reform and Housing, Local Government & Heritage and the Revenue Commissioners and the report was published in April 2019 (available at ). In accordance with its terms of reference, the review focused on the impact of house price...

Written Answers — Department of Finance: Tax Code (8 Sep 2020)

Paschal Donohoe: In situations where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other. The basis for the current tax treatment of married couples derives...

Written Answers — Department of Finance: Tax Code (8 Sep 2020)

Paschal Donohoe: Finance Act 2000 introduced the gross roll-up taxation regime for investments in certain investment undertakings and life assurance policies. The regime provides that there is no annual tax on income or gains arising within the investment. Any tax arising applies at the level of the investor. Finance Act 2006 introduced an 8 year deemed disposal rule in relation to these investments. A...

Written Answers — Department of Finance: Banking Sector (8 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 301 and 303 together. I am advised by the Central Bank that it is not in a position to disclose information about applications and requests made by individual firms in a supervisory capacity. In line with the recommendation of the European Central Bank of 27 July 2020 on dividend distributions during the COVID-19 pandemic the Central Bank expects...

Written Answers — Department of Finance: Insurance Industry (8 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 302 and 304 together. In response to the Deputy’s question, my officials contacted the Central Bank of Ireland (CBI) for information on these matters. In their reply, the CBI indicated that as the information sought by the Deputy relates to their day-to-day supervisory work of insurers and reinsurers, they are precluded from providing a response to...

Written Answers — Department of Finance: Value Added Tax (8 Sep 2020)

Paschal Donohoe: The rate of VAT applicable to the supply of a service is determined by the nature of that service. Certain services specified in the VAT Consolidation Act, such as the care of the human body or construction services are chargeable to VAT at the lower rate of VAT, all other services, including those provided by accountants and solicitors, for example, are chargeable to VAT at the standard...

Written Answers — Department of Finance: Tax Code (8 Sep 2020)

Paschal Donohoe: Withdrawals from private pensions before retirement are only possible in certain limited circumstances – for example, where an employee leaves a pensionable employment and receives a refund of contributions made to the associated pension scheme. Such refunds are governed by the rules of individual pension schemes and are usually only permitted where the individual has less than two...

Written Answers — Department of Finance: Currency Exchange (8 Sep 2020)

Paschal Donohoe: I would like to thank the Deputy for this query, as it allows me to throw light on the work undertaken by this Department in an extremely complex and technical area. The aims of the Intra-Departmental Working Group are as follows: - to monitor developments at a global (example: Financial Stability Board, Financial Action Task Force, International Monetary Fund) and European level (example:...

Written Answers — Department of Finance: Aer Lingus (8 Sep 2020)

Paschal Donohoe: In 2015, €335 million was transferred from the Exchequer to the ISIF for the purpose of a new Connectivity Fund within the discretionary portfolio. The ISIF have advised me that it has completed four investments under the Connectivity Fund, namely: - A $28 million co-investment in Aqua Comms DAC, a company that has developed fibre optic cables linking the USA, Ireland (Killala, Mayo)...

Written Answers — Department of Finance: Departmental Offices (8 Sep 2020)

Paschal Donohoe: I can advise the Deputy that there are currently no vacant desk spaces available in accommodation allocated to the Department of Finance in civil service accommodation outside Dublin city.

Written Answers — Department of Finance: Credit Unions (8 Sep 2020)

Paschal Donohoe: I wish to inform the Deputy that I have requested the information from the Central Bank referred to in his question. The Central Bank have informed me that there is insufficient time to gather and collate the information in the format requested in the time allowed. I will revert to the Deputy with a full response to his question as soon as the Central Bank come back to me with their response.

Written Answers — Department of Finance: Pension Provisions (8 Sep 2020)

Paschal Donohoe: The Central Bank of Ireland's Superannuation Scheme (the Central Bank & Financial Services Authority of Ireland Superannuation 2008) was established by Statutory Instrument and the benefits must mirror those of the civil service superannuation schemes. The employee contribution rate also mirrors the contributions made by Civil Servants including the Additional Superannuation...

Written Answers — Department of Finance: Ministerial Advisers (8 Sep 2020)

Paschal Donohoe: I wish to inform the Deputy that on the commencement of every Dáil, the Department of Public Expenditure and Reform issues guidelines setting out the arrangements for the staffing of Ministerial Offices. The appointment of Special Advisers is subject to section 11 of the Public Service Management Act 1997. The Guidelines for the 33rd Dáil, which incorporate the principles of section...