Results 22,001-22,020 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Oct 2020)

Paschal Donohoe: The Stay and Spend scheme provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple. The purpose of the scheme is to provide targeted support to businesses within the hospitality sector...

Written Answers — Department of Finance: Value Added Tax (20 Oct 2020)

Paschal Donohoe: In order for a zero rate of VAT to be applied to a good or service, that good or service must have applied at the zero rate on 1 January 1991 and have continued to apply at that rate since. No new items may be charged at the zero rate, where they had not been subject to the zero rate before 1991. In Ireland the zero VAT rate applies to oral medicines, including oral medicines for animals, as...

Written Answers — Department of Finance: Tax Reliefs (20 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: Covid-19 Pandemic Supports (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 192 and 225 together. On 18 March last, the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically impacted by the Covid-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially for a period up...

Written Answers — Department of Finance: Value Added Tax (20 Oct 2020)

Paschal Donohoe: The Deputy will be aware that the VAT rate applied to Tourism and Hospitality related services has been temporarily reduced from 13.5% to 9%, from 1 November 2020 to 31 December 2021. This reduction will apply to cinemas, theatres, musical performances, museums, historic houses and open farms. I am advised by Revenue that the VAT rate applicable to admissions to events depends on the...

Written Answers — Department of Finance: Insurance Coverage (20 Oct 2020)

Paschal Donohoe: At the outset let me say I have an appreciation of the problems faced by many businesses in relation to public liability insurance, including those in the arts, entertainment and events industry. As this is a commercial matter, neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, nor can we specifically compel any insurer operating in the Irish market to...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 Oct 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. I have been advised by Revenue that the questions of an individual’s entitlements and rights in an employment context, what wages an employer may be...

Written Answers — Department of Finance: Value Added Tax (20 Oct 2020)

Paschal Donohoe: As the Deputy will be aware, the VAT rate applied to Tourism and Hospitality related goods and services has been temporarily reduced from 13.5% to 9%, from 1 November 2020 to 31 December 2021, in recognition of the unprecedented challenges facing the sector. This change will apply to restaurant supplies, tourist accommodation, cinemas, theatres, museums, historic houses, open farms, amusement...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 197, 220, 221, 224 and 236 together. The details of the Covid Restrictions Support Scheme (CRSS) will be set out in the Finance Bill due to be published this week. The CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic....

Written Answers — Department of Finance: Imports Data (20 Oct 2020)

Paschal Donohoe: I am advised by Revue that the available information is the volume of marked gas oil (MGO) on which Excise was paid and the value of the net Excise receipts (carbon and non-carbon components) collected for the three years to 2019. A breakdown of MGO by source (whether through intra-community acquisition or imported from third countries) is not available. I am advised by Revenue that the vast...

Written Answers — Department of Finance: Financial Services Regulation (20 Oct 2020)

Paschal Donohoe: As part of the review of the regulation of Personal Contracts Plans (PCPs) which I commissioned in 2018, Mr Michael Tutty considered the contents and recommendations of an earlier CCPC study on 'Personal Contract Plans: the Irish Market' and also a separate Central Bank of Ireland study 'An Overview of the Irish PCP Market'. Following his consideration of these reports and his other...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 200 and 201 together. I am advised by Revenue that, if a business had re-opened but has had to close again as a result of the imposition of restrictions such as the “Level 3” restrictions to combat the spread of Covid-19 mentioned by the Deputy, the business can continue to warehouse VAT and PAYE (Employer) debts in respect of the extended...

Written Answers — Department of Finance: Primary Medical Certificates (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 202, 217 to 219, inclusive, 235 and 243 together. The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The cost of the scheme in 2019, excluding motor tax, was €72m. The Scheme is open to severely and...

Written Answers — Department of Finance: Tax Reliefs (20 Oct 2020)

Paschal Donohoe: CAT Agricultural relief allows the value of agricultural assets inherited (including farmland, buildings, stock) to be reduced by 90% of its value for the calculation of the CAT liability. In order to qualify for the relief, certain conditions must be met, including the following: 1. At least 80% of the total assets held by the beneficiary after receiving the gift or inheritance must be...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 204 and 205 together. Discretionary performance-related payments are intended to reward exceptional performance having regard to the individual's own performance and the overall performance of the SBCI. The payment of a performance related payment to the Chief Executive Officer of the SBCI, Mr Nick Ashmore, is a matter determined by the SBCI Remuneration...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 206 and 207 together. The NTMA Internal Audit function provides internal audit services to the SBCI. The NTMA Internal Audit function comprises a Head of Internal Audit supported by an external service provider (currently KPMG).Details of the procurement of the external service provider, the contract for which was awarded to KPMG, are available on e-tenders,...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (20 Oct 2020)

Paschal Donohoe: The amount paid by the SBCI for consultancy services, including public relations consultancy, is published in their Annual Report. In 2019, €107,000 was spent on external consultancy for public relations and marketing. The SBCI uses the services of a PR firm, Gordon MRM, which was appointed on foot of a procurement process by the NTMA, and is charged a proportionate amount for these...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (20 Oct 2020)

Paschal Donohoe: The National Treasury Management Agency (NTMA) provides a range of support and services to the SBCI in areas including IT, HR, compliance, internal audit and communications. The SBCI is required to reimburse the NTMA for the costs incurred in the provision of these services. The internal cost of public relations which is a pro rata recharge to the SBCI from the NTMA in 2019 was...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (20 Oct 2020)

Paschal Donohoe: Section 8 of the SBCI Act 2014 lays out the functions of the SBCI. These include the promotion and provision of finance to SMEs and the design of credit facilities for SMEs. Section 8(2) of the SBCI Act 2014 notes that the SBCI should “seek to obtain a positive financial return for the State”, in the achievement of its functions. As such, The SBCI operates under a sustainability...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 Oct 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. The specific nature and terms of...