Results 21,841-21,860 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Exemptions (30 Sep 2020)

Paschal Donohoe: As the Deputy will 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. In regard to the position of the agriculture sector and the impact of the carbon tax, the main agriculture exposure to carbon tax comes from its application to Marked Gas Oil (MGO) which is also...

Written Answers — Department of Finance: Tax Credits (30 Sep 2020)

Paschal Donohoe: I am advised by Revenue that estimated costs for increases to the Earned Income Credit are available on page 6 of the Revenue Ready Reckoner, which is available on the Revenue website at link: https://www.revenue.ie/en/corporate/documents/statistics/rea dy-reckoner.pdf.  As this sets out, the estimated cost of increasing the Earned Income Credit by €150 to €1,650 is...

Written Answers — Department of Finance: Tax Avoidance (30 Sep 2020)

Paschal Donohoe: The European Securities Markets Authority (“ESMA”), the EU’s securities markets regulator, launched a formal inquiry concerning Cum-Ex, Cum-Cum and other dividend withholding tax reclaim schemes in July 2019.  On 24 September 2020 ESMA published a final report on the findings of this inquiry, based on information received from National Competent Authorities...

Written Answers — Department of Finance: Departmental Expenditure (30 Sep 2020)

Paschal Donohoe: I can advise the Deputy that the table below outlines the expenditure incurred by my Department on access to online and hardcopy media publications since May 2020 to date: Publication Format Frequency Cost May 2020 to date) The Irish Times Online Cost from May 2020 to date €5,861.75 Financial...

Written Answers — Department of Finance: Departmental Contracts (30 Sep 2020)

Paschal Donohoe: My Department has engaged the following third–party company for the years 2017, 2018, 2019 and to date in 2020 for the purposes of media monitoring and providing reports on media coverage: Service Provider 2017 2018 2019 2020 KANTAR Media Services 13,782 8,418 9,988 5,688

Written Answers — Department of Finance: Credit Unions (30 Sep 2020)

Paschal Donohoe: In response to the seven questions raised by the Deputy, the Central Bank of Ireland (Central Bank) have provided me with a response on each of the issues which are set out below: 1. Following the High Court appointment of the Joint Liquidators to the Credit Union referred to in the details supplied on 17 June 2020, the Central Bank published the partially redacted...

Written Answers — Department of Finance: Insurance Coverage (1 Oct 2020)

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

Written Answers — Department of Finance: Tax Reliefs (1 Oct 2020)

Paschal Donohoe: I am advised by Revenue that the overall cost associated with tax relief on health insurance, up to 2018 (the latest available year), can be found under the “Medical Insurance Relief” row in the Costs of Tax Expenditures table published at link: . In 2018, the latest year for which data are available, €355.7 million was claimed in Medical Insurance Relief, with over...

Written Answers — Department of Finance: EU Funding (1 Oct 2020)

Paschal Donohoe: The SURE instrument is intended primarily to support Member States with efforts to protect workers and jobs (such as short-term work schemes), and also support some health-related measures. The European Commission will borrow on financial markets to finance loans to Member States, allowing Member States benefit from the EU’s strong credit rating (AAA) and low borrowing costs. On the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Oct 2020)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide enterprise support that gives a flat rate subsidy to qualifying employers to preserve the link between employee and employer and support firm viability through an unprecedented enterprise environment. The design of the Employment Wage Subsidy Scheme (EWSS) reflects the changing environment around the COVID-19 pandemic which has...

Written Answers — Department of Finance: Tax Reliefs (1 Oct 2020)

Paschal Donohoe: The young trained farmers stamp duty relief, which is currently due to expire on 31 December 2021, provides a full exemption from stamp duty on transfers of farm land to certain young trained farmers. Section 81AA of the Stamp Duty Consolidation Act 1999 (SDCA 1999) provides for the stamp duty exemption in legislation. Amongst the eligibility tests for the relief set out in that section...

Written Answers — Department of Finance: Tax Code (1 Oct 2020)

Paschal Donohoe: The Financial Measures (Covid-19) (No. 2) Act 2020 put on a statutory footing the arrangements for the deferral or ‘warehousing’ of tax debts that Revenue had been operating on an administrative basis since the beginning of Covid-19 related restrictions in March 2020. The arrangements apply to VAT liabilities in respect of January/February 2020 to July/August 2020 inclusive and...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Oct 2020)

Paschal Donohoe: As the Deputy will be aware, on 25 September in a public announcement Revenue set out how any tax liability arising on the Temporary Wage Subsidy Scheme (TWSS) and the Pandemic Unemployment Payment (PUP) will be dealt with.  Revenue officials sent a copy of its press release to my Department for information prior to publication. There was no instruction from me or my officials to Revenue...

Written Answers — Department of Finance: Tax Collection (1 Oct 2020)

Paschal Donohoe: Ireland’s excise duty treatment of fuel used for air navigation is based on European law as set out in Directive 2003/96/EC on the taxation of energy products and electricity, commonly known as the Energy Tax Directive. Under this Directive, Member States are obliged to exempt certain fuels used for commercial aviation purposes from excise duty. The scope of this exemption must include...

Written Answers — Department of Finance: Carbon Tax Yield (1 Oct 2020)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing 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: Tax Reliefs (1 Oct 2020)

Paschal Donohoe: I am advised by Revenue that section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out, or advised, by a “practitioner”, qualify for tax relief. Health expenses are defined as “expenses in respect...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Oct 2020)

Paschal Donohoe: The Temporary Wage Subsidy (TWSS) was in place for 22 weeks between 26 March and 31 August.  It was introduced as an emergency income support for employees of vulnerable firms where turnover had reduced by at least 25% during the second quarter of the year while the strictest public health measures were in place to stop the spread of the COVID-19 virus. Under the TWSS, the income...

Written Answers — Department of Finance: Tax Clearance Certificates (1 Oct 2020)

Paschal Donohoe: I am advised by Revenue that the issue to which the Deputy is referring has been resolved. Following direct discussions between the person in question and Revenue, tax clearance certification issued through the electronic tax clearance system. A Tax Clearance Access Number (TCAN) has also issued to the person. This can be provided to any third party who wishes to verify his tax clearance status.

Written Answers — Department of Finance: Exchequer Deficit (1 Oct 2020)

Paschal Donohoe: As the Deputy will be aware, the unprecedented economic situation of the last six months has meant that medium-term economic and fiscal forecasts are subject to an exceptional level of uncertainty. My Department’s most recent official forecasts, published in the Stability Programme Update, were, accordingly, produced on a short-term basis, as per guidance from the European...

Written Answers — Department of Finance: Carbon Tax Yield (1 Oct 2020)

Paschal Donohoe: The base for any year includes measures which have been implemented in previous years.  It does not include assumptions on any additional measures which may be the subject of Budget decisions in the current year.  As such, any potential revenue arising from changes to the rate of carbon tax in Budget 2021 has not been included in the base.