Results 21,701-21,720 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 Sep 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which was provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, expired on 31 August 2020. The TWSS has now been replaced by the Employment Wage Subsidy Scheme (EWSS), which was legislated for under the recently enacted Financial Provisions (Covid-19) (No. 2) Act 2020. Notwithstanding any obligations imposed...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (23 Sep 2020)

Paschal Donohoe: The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s National Promotional Institution for SMEs. The goal of the SBCI is to increase the availability of appropriately priced, flexible funding to viable Irish SMEs. The SBCI’s role is to provide and promote the provision of credit to SMEs. The SBCI do not engage in direct lending, rather they work through on-lending...

Written Answers — Department of Finance: Help-To-Buy Scheme (23 Sep 2020)

Paschal Donohoe: The Help to Buy incentive (HTB) is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. This measure is designed to stimulate supply of new houses in the...

Written Answers — Department of Finance: Wage Subsidy Scheme (23 Sep 2020)

Paschal Donohoe: The Deputy will be aware that under Section 851A of the Taxes Consolidation Act 1997, Revenue is precluded by reason of its taxpayer confidentiality obligations, from providing any details in relation to the company in question. The Temporary Wage Subsidy Scheme (TWSS), which was provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, expired...

Written Answers — Department of Finance: Insurance Industry (23 Sep 2020)

Paschal Donohoe: Let me say at the outset that I am very much aware of the problems faced by many businesses in the leisure industry, in relation to the availability and affordability of public liability insurance. However, neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, and neither can we compel any insurer operating in the Irish market to provide cover, as this is...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: Since its inception, NAMA has advanced capital funding to its debtors and receivers in cases where it can be shown that such funding will enhance or protect the value of the assets securing NAMA’s loan portfolio. Subject to commercial viability, NAMA funds capital expenditure for the planning, design and construction of new residential and commercial projects. NAMA also funds...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: I wish to advise the Deputy that NAMA may provide funding to its debtors and receivers to protect and enhance their assets so as to optimise their income-producing potential and disposal value. This is in accordance with section 10 of the NAMA Act which states that NAMA is required to protect or enhance the value of its acquired assets and to obtain the best achievable financial return for...

Written Answers — Department of Finance: National Debt (23 Sep 2020)

Paschal Donohoe: Exchequer cash interest paid in respect of Ireland’s national debt for the eight-month period January to August 2020 was just over €3.75 billion. This is a provisional, unaudited figure, as provided to me by the National Treasury Management Agency (NTMA). It is close to €200 million (5%) lower than the same period in 2019. It includes interest paid on Government...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: The Deputy will be aware that NAMA does not generally own properties; rather NAMA owns loans for which the properties act as security. I am advised that NAMA debtors and receivers own an estimated 675 hectares of land suitable for residential development in Ireland. NAMA regularly assesses the feasibility of these sites and, where development is deemed commercially viable; NAMA provides...

Written Answers — Department of Finance: Banking Sector (23 Sep 2020)

Paschal Donohoe: Ulster Bank Ireland is a significant employer, has 88 branches, has a sizeable market share in terms of mortgage lending and SME lending and it is important in terms of providing competition in the Irish market. I aware of the media reports suggesting that NatWest is engaged in a strategic review of its operations and specifically examining options in relation to Ulster Bank Ireland. The...

Written Answers — Department of Finance: Banking Sector (23 Sep 2020)

Paschal Donohoe: A recent Indecon report on Community Banking in Ireland, published by my Department in December 2019, concluded that there is extensive provision of banking services by credit unions, An Post, as well as by commercial banking providers in the Irish market. The report found that there are 1,912 branches operated by banks, credit unions and post offices in Ireland, 63% of these branches are...

Written Answers — Department of Finance: Tax Reliefs (23 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 67 and 68 together. In accordance with the section 481 certification process, where a project has been suspended, it is a requirement for production companies to notify the suspension to the Department, of Media, Tourism, Arts, Culture and Sport (DMTACS). It is my understanding that the DMTACS have received a number of such notifications as a result of the...

Written Answers — Department of Finance: Vehicle Registration Tax (24 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 90 and 91 together. Vehicle Registration Tax is charged on new cars or used imports registering in the State for the first time. The VRT reform option in the Tax Strategy Group paper sets out a mechanism for transitioning to the new road emissions test 'WLTP' and recalibrating the tax design in light of the more realistic emissions recorded. This is...

Written Answers — Department of Finance: Budget Process (24 Sep 2020)

Paschal Donohoe: As the Deputy may be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Cycle to Work Scheme (24 Sep 2020)

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 provides for the cycle to work scheme. This scheme provides an exemption from benefit-in-kind where an employer purchases a bicycle and associated safety equipment up to a maximum of €1,500 for e-bikes and €1,250 for other bicycles for an employee to use, in whole or in part, to travel to work. These thresholds were increased...

Written Answers — Department of Finance: Value Added Tax (24 Sep 2020)

Paschal Donohoe: I am advised by Revenue that information provided on VAT3 returns (the primary return filed by VAT traders) does not require a business to separately identify the yield from particular VAT rates or sectors of the economy. However, based on other Revenue data and third-party data sources, a tentative estimate on the impact of a reduction in the VAT rate on hospitality and tourism...

Written Answers — Department of Finance: Vehicle Registration Tax (24 Sep 2020)

Paschal Donohoe: I am informed by Revenue that VRT is levied under the provisions of the Finance Act 1992, Part II, Chapter IV. There are a number of exemptions and reliefs under this legislation including a zero rating on vehicles such as ambulances and fire engines, and, under certain circumstances, relief from VRT and VAT under the provisions of the Disabled Drivers and Disabled Passengers (Tax...

Written Answers — Department of Finance: Wage Subsidy Scheme (24 Sep 2020)

Paschal Donohoe: The Deputy will be aware that under Section 851A of the Taxes Consolidation Act 1997, Revenue is precluded by reason of its taxpayer confidentiality obligations, from providing any details in relation to the company in question. The Temporary Wage Subsidy Scheme (TWSS), which was provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, expired on 31...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Sep 2020)

Paschal Donohoe: As the Deputy is aware, on 18 March the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their businesses and personal customers who were economically impacted by the Covid-19 crisis. These measures included flexible loan repayment arrangements, and included a loan payment break of up to three months which was subsequently...

Written Answers — Department of Finance: Tax Reliefs (24 Sep 2020)

Paschal Donohoe: I am advised by Revenue that Transborder Relief may apply in the case of an individual resident in the State but who commutes to his or her place of work outside the State. This relief is set out in section 825A of the Taxes Consolidation Act 1997. The relief effectively removes the foreign employment income from a liability to Irish tax where foreign tax has been paid on that employment...