Results 22,081-22,100 of 33,084 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Nov 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was legislated for in section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020. The scheme was predicated on the employer wanting to keep the employees on the payroll and to retain them until business picked up. The employer was expected to make best efforts to maintain the employee’s net income for the duration of the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 404 and 407 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: Covid-19 Pandemic Supports (3 Nov 2020)

Paschal Donohoe: The Deputy will be aware that the Employment Wage Subsidy Scheme (EWSS) provides a flat-rate subsidy to qualifying employers based on the number of paid and eligible employees on the employer’s payroll and charges a reduced rate of employer PRSI of 0.5% on wages paid which are eligible for the subsidy payment. I am advised that Revenue having regard to the circumstances of the...

Written Answers — Department of Finance: Retail Sector (3 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 412 and 413 together. 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...

Written Answers — Department of Finance: Corporation Tax (3 Nov 2020)

Paschal Donohoe: The Deputy has raised two points which I will deal with in turn, but I must first set out the parameters which must be respected when doing so. The Deputy will be aware that Revenue is statutorily bound to confidentiality in respect of taxpayer information and by law Revenue is prohibited from disclosing taxpayer information to third parties, including to Dáil Éireann. Section 851A...

Written Answers — Department of Finance: Insurance Coverage (3 Nov 2020)

Paschal Donohoe: In relation to my reply of 20 October in relation to the risk presented by the State acting as an insurer for artists and the live events sector, I would draw the attention of the Deputy to the following factors. Specifically with regard to competition, the concern I have with such a proposal is that it could compound what some see as the ‘cherry picking’ of risk within the...

Written Answers — Department of Finance: Motor Tax (3 Nov 2020)

Paschal Donohoe: Details of the changes to motor tax and VRT are set out in the Finance Bill.

Written Answers — Department of Finance: Departmental Reports (3 Nov 2020)

Paschal Donohoe: The Department of Finance undertook a public consultation in 2019 seeking views on capping the cost of licensed moneylenders and other regulatory matters in relation to moneylending. The submissions received, proposed a number of policy changes in relation to the moneylending industry and are broadly in favour of introducing an interest rate restriction. A number of potential policy...

Written Answers — Department of Finance: Departmental Correspondence (3 Nov 2020)

Paschal Donohoe: I am aware of the 'Save our Ulster Bank' campaign that the Deputy is referring to and I share the concerns outlined in the correspondence. I became aware that NatWest is engaged in a strategic review of its operations, including those of its subsidiary, Ulster Bank, thanks to media reports published last month. Following these media reports, officials from my Department contacted Ulster...

Written Answers — Department of Finance: Tax Reliefs (3 Nov 2020)

Paschal Donohoe: It is presumed that the question relates to benefit-in-kind (BIK) rates and allowances on employer-provided vehicles. I am advised by Revenue that, due to the unprecedented circumstances of the COVID-19 pandemic, certain concessional treatment was applied by Revenue in relation to the operation of benefit-in-kind (BIK) on employer-provided vehicles. This guidance issued in March 2020 and is...

Written Answers — Department of Finance: Tax Reliefs (3 Nov 2020)

Paschal Donohoe: I made no changes to the BIK regime for company vehicles in Budget 2021. The Deputy may be referring to changes made in Budget 2020 where provision was made to introduce a CO2 based vehicle BIK regime from 2023. In recognition of the need to further incentivise the uptake of electric vehicles, in Finance Act 2017 I provided for an exemption from benefit-in-kind for employees or Directors...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Nov 2020)

Paschal Donohoe: I am advised by Revenue that it has not received any engagement from the persons in question regarding eligibility for the Covid-19 schemes administered under its remit. Revenue has also confirmed that the persons are not registered as employers and as such do not qualify for either the Temporary Wage Subsidy Scheme (TWSS), which ceased on 31 August 2020, or the Employment Wage Subsidy Scheme...

Written Answers — Department of Finance: Financial Irregularities (3 Nov 2020)

Paschal Donohoe: I welcome the research carried out by the Banking & Payments Federation Ireland (BPFI) and Safeguarding Ireland on financial abuse and vulnerable persons. I understand that BPFI along with its member banks and with support from Safeguarding Ireland have developed a guide which provides advice on how you can best prepare for a time when you may need assistance to properly manage your...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Nov 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) commenced on 26 March 2020 as an emergency measure to provide income support to eligible employees where the employer’s business activities were negatively impacted by the COVID-19 pandemic. The scheme operated until 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. Payments made under the...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (3 Nov 2020)

Paschal Donohoe: The Home Renovation Incentive (HRI) was introduced by Section 477B of the Taxes Consolidation Act 1997 in 2014 and was terminated in accordance with its statutory sunset clause on 31 December 2018 having been extended twice before that and having been seen to have met its original objective viz. support for job creation in the construction sector in the wake of the financial crisis. The...

Written Answers — Department of Finance: Living City Initiative (3 Nov 2020)

Paschal Donohoe: The Living City Initiative (LCI) (provided for in Finance Act 2013 and commenced on 5 May 2015) is a tax incentive aimed at the regeneration of the historic inner cities of Dublin, Cork, Galway, Kilkenny, Limerick and Waterford. The scheme provides income or corporation tax relief for qualifying expenditure incurred in refurbishing/converting qualifying buildings which are located within...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Nov 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: National Asset Management Agency (3 Nov 2020)

Paschal Donohoe: I wish to advise the Deputy that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that I, as Minister, have no role in relation to its commercial operations or decisions. Nor am I a party to commercial transactions in which NAMA is engaged. I am advised by NAMA that, in relation to the asset concerned, a commercial process remains...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (3 Nov 2020)

Paschal Donohoe: The payment break scheme coordinated by the Banking and Payments Federation of Ireland (BPFI) and introduced by its Members last March was a welcome initiative that allowed important and necessary cash flow relief to be quickly and efficiently provided to borrowers affected by Covid-19, including SMEs. As the Deputy is aware, the original 3 month payment break was extended by another 3 months...

Written Answers — Department of Finance: Departmental Contracts (3 Nov 2020)

Paschal Donohoe: The following tabled procurements were undertaken without competitive procurement in 2019 and to date in 2020: Year Company Name Contract / Agreement Details Contract Value 2019 Lilley Ventures t/a Workproducts Inc. Matterspace Software Tool Licence renewal. 12 months unlimited software usage and maintenance....