Results 22,021-22,040 of 33,049 for speaker:Paschal Donohoe

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

Paschal Donohoe: Capital Acquisitions Tax (CAT) is the overall title for both gift and inheritance tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. CAT at a rate of 33% applies on the excess over the tax-free threshold. There are three separate Group thresholds based on the relationship of the beneficiary to the disponer. Group Athreshold...

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

Paschal Donohoe: A fundamental principle of the Capital Acquisitions Tax regime is that inheritance or gift tax is levied on the beneficiary and that the level of taxation is determined according to their relationship with the disponer. The reason for this approach is that the capital being transferred has not been earned by the beneficiary. In this context, the effective taxation of windfall capital is an...

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

Paschal Donohoe: I am advised by Revenue that no distinction is made across the various enterprise tax schemes such as the Employee Investment Incentive (EII), Key Employee Engagement Programme (KEEP) and CGT entrepreneur relief for high risk and high potential start-ups. Each scheme has its own specific criteria which must be fulfilled for qualification for that individual relief. KEEP is a focussed...

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

Paschal Donohoe: I can confirm that I received the Pre-Budget submission to which the Deputy refers. As outlined in my reply to PQ 28231/20 on 6 October, Revenue has extended the deadline for customers to file their 2019 self-assessed income tax return and make the appropriate payment in respect of preliminary tax for 2020 and any income tax balance due for 2019. The due date has been extended by four...

Written Answers — Department of Finance: Ministerial Communications (20 Oct 2020)

Paschal Donohoe: I last spoke with the UK Chancellor, Rishi Sunak, by phone on 25th September. I was glad to have this opportunity to continue our bilateral engagement, following on from previous calls in May and in the Spring of this year. We had a good discussion on our respective actions in addressing the economic challenges of Covid-19. We also noted the ongoing Brexit discussions, including the...

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

Paschal Donohoe: I propose to take Questions Nos. 222 and 223 together. 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,...

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

Paschal Donohoe: I propose to take Questions Nos. 226 to 228, inclusive, together. Revenue is publishing regular statistical updates on the operation of the Employment Wage Support Scheme (EWSS), as it did previously for the Temporary Wage Subsidy Scheme (TWSS). These statistics are available at: . In the statistics release dated 15 October 2020 at the above link, Table 3 shows the numbers of EWSS employers...

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

Paschal Donohoe: As I announced on Budget day, there will be no cliff-edge to the Employment Wage Subsidy Scheme (EWSS) which will be in place until 31 March 2021. It is noted that the legislation implementing the EWSS also provides that the scheme may be extended until the end of June 2021, should it be required. It is acknowledged that a similar type scheme will be needed out to the end of 2021 to...

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

Paschal Donohoe: The Deputy will be aware that the Employment Wage Subsidy Scheme (EWSS) was legislated for under the Financial Provisions (Covid-19) (No. 2) Act, 2020. The EWSS provides a flat-rate subsidy to qualifying employers, based on the number of qualifying employees on the payroll. The EWSS is administered by Revenue on a 'self-assessment' basis. I am advised by Revenue that the primary focus at...

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

Paschal Donohoe: I am advised by Revenue that approximately 74,750 properties have been registered for Local Property Tax (LPT) for Galway County (Local Authority Area) at the end of September 2020. This includes 1,908 properties that are exempt from LPT with associated liabilities of approximately €400,000. The LPT rate of compliance for Galway County at end September 2020 is almost 92%, which is...

Written Answers — Department of Finance: Brexit Issues (20 Oct 2020)

Paschal Donohoe: I have previously outlined the rationale for the changes proposed to the VAT Retail Export Scheme. This scheme enables visitors that are resident outside the EU to benefit from VAT relief on goods purchased in Ireland and subsequently taken outside of the EU. If the scheme applies to UK visitors post-Brexit without changes UK visitors will be able to buy goods VAT free in Ireland. This...

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

Paschal Donohoe: The VRT relief of up to €5,000 for electric vehicles will remain in place until at least 31/12/2021. Any decision to further extend this relief will be made in the context of Budget 2022 having regard to Government climate action policy and value for money considerations.

Written Answers — Department of Finance: Value Added Tax (20 Oct 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 scope under the VAT Directive to apply a 9% rate is limited to certain categories, including tourism and hospitality related goods and services, but this does not include dry-cleaning and laundry services, which remain liable at the 13.5% rate. It is not intended to...

Written Answers — Department of Finance: Fuel Rebate Scheme (20 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 238 to 242, inclusive, together. I am advised by Revenue that, under the terms of the Diesel Rebate Scheme (DRS) which came into effect on 1 July 2013, qualifying road transport operators submit their claims, via an online system, on a quarterly basis. The table below shows the number of claimants, the number of repayments and the amount repaid since the...

Written Answers — Department of Finance: Departmental Offices (20 Oct 2020)

Paschal Donohoe: I wish to advise that my Department does not have any dedicated spaces for breastfeeding or expressing breast milk in its offices.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 42, 44, 45, 46, 51, 53, 56, 59 and 62 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...

Written Answers — Department of Finance: Tax Code (21 Oct 2020)

Paschal Donohoe: In my Budget speech, I announced that I would provide for an extension of the tax warehousing scheme to include the 2019 balance and 2020 preliminary tax obligations for self-assessed taxpayers . I specifically referred to self-employed people who have suffered a significant drop in income and will struggle to pay their 2019 balance and preliminary tax for 2020. The details of...

Written Answers — Department of Finance: Value Added Tax (21 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 47 and 55 together. I have previously outlined the rationale for the changes proposed to the VAT Retail Export Scheme. This scheme enables visitors who are resident outside the EU to benefit from VAT relief on goods purchased in Ireland and subsequently taken outside of the EU. If the scheme applies to UK visitors post-Brexit without changes UK visitors...

Written Answers — Department of Finance: Insurance Coverage (21 Oct 2020)

Paschal Donohoe: At the outset, while I have an appreciation of the difficulties individuals may find themselves in as outlined in the Deputy's question neither I, as the 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...