Results 22,581-22,600 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: UN Committee on the Rights of the Child (26 Nov 2020)

Paschal Donohoe: As a signatory of the United Nations Convention on the Rights of the Child, Ireland is required to submit regular reports on measures taken to give effect to the Convention. The Department of Children, Equality, Disability, Integration and Youth holds primary responsible for reporting back to the UN Committee, in coordination with Government Departments and other civil society stakeholders....

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 86, 89, 100 to 102, inclusive, 114, 119, 127, 128, 140, 150 and 152 together. The Covid Restrictions Support Scheme (CRSS) was announced in the Budget on 13 October 2020. The details are set out in Finance Bill 2020 and guidelines on the operation of the scheme, including the eligibility criteria, are available on the Revenue website at: . The registration...

Written Answers — Department of Finance: State Aid (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 87 and 192 together. On the basis of the Deputy’s engagement with my officials in my Department, I understand that the Deputy’s query relates specifically to the issue of Just Transition, the Just Transition Fund and recommendations made by the Just Transition Commissioner. In relation to the issue of Just Transition, I would outline to...

Written Answers — Department of Finance: Legislative Measures (26 Nov 2020)

Paschal Donohoe: As the Deputy is aware, 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...

Written Answers — Department of Finance: Value Added Tax (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 90, 98, 105 and 113 together. The Retail Export Scheme enables visitors that are resident outside the EU benefit from VAT relief on goods purchased in Ireland and subsequently taken outside of the EU. Under existing rules, when the UK becomes a third country, visitors from Britain will be able to avail of the scheme. No minimum threshold currently applies...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: The Deputy will be aware that responsibility for the administration of the Employment Wage Subsidy Scheme (EWSS), which itself operates on a self-assessment basis, rests with the Revenue Commissioners. I am advised by Revenue that it takes a multifaceted approach to ensuring compliance by employers with the terms of the scheme. Revenue undertakes a risk focused real-time examination of...

Written Answers — Department of Finance: Economic Growth Rate (26 Nov 2020)

Paschal Donohoe: The suspension of all ‘non-essential’ economic activity during the second quarter of the year resulted in the Irish economy suffering the largest contraction on record, with a contraction in GDP of over 6 per cent relative to the previous quarter. Modified domestic demand, perhaps the best indicator of domestic economic activity, declined by 16 per cent while the unemployment...

Written Answers — Department of Finance: Value Added Tax (26 Nov 2020)

Paschal Donohoe: The VAT rates applying in Ireland are subject to the requirements of EU VAT law with which Irish VAT law must comply. 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...

Written Answers — Department of Finance: Economic Competitiveness (26 Nov 2020)

Paschal Donohoe: From 1 January 2021, many aspects of our relationship with the UK will change fundamentally as we will no longer share EU membership. While the Government remains committed to protecting and strengthening the Ireland-UK relationship following the end of the transition period, I can advise the Deputy that the net impact of Brexit on the policy areas within my remit is anticipated to be...

Written Answers — Department of Finance: Financial Services Regulation (26 Nov 2020)

Paschal Donohoe: I am aware of the letter issued by the Central Bank on 17 November setting out expectations for action by regulated firms to address their legal obligations under the Fitness and Probity (F&P) regime. This letter was issued by the Bank in the performance of its regulatory functions under current legislation. That letter was preceded by a letter issued by the Bank in 2019 on F&P issues...

Written Answers — Department of Finance: Covid-19 Pandemic (26 Nov 2020)

Paschal Donohoe: Since the emergence of COVID-19, the Government has been guided by the need to strike a balance between jobs, income and enterprise on one hand and keeping our people healthy and safe on the other. The Government has been clear that a “zero covid” policy is not available to Ireland due to the border with Northern Ireland and the Common Travel Area. Our proximity to Europe and...

Written Answers — Department of Finance: Tax Incentives (26 Nov 2020)

Paschal Donohoe: The 2019 Climate Action Plan charts an ambitious pathway to reduced carbon emissions by 2030 which includes a series of measures to phase out fossil fuel usage across all sectors while the Programme for Government augments the Climate Action Plan by committing to reduce emissions by an average of 7 per cent per annum throughout the next 10 years. As set out in the Programme for Government,...

Written Answers — Department of Finance: Tax Reliefs (26 Nov 2020)

Paschal Donohoe: The rent relief tax credit was abolished in Budget 2011 and is no longer available to those that commenced renting for the first time from 8 December 2010. This followed a recommendation in the 2009 report by the Commission on Taxation that rent relief should be discontinued. The view of this independent commission was that, in the same manner in which mortgage interest relief increases the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: 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 to three months and then subsequently extended for up...

Written Answers — Department of Finance: Covid-19 Pandemic (26 Nov 2020)

Paschal Donohoe: My Department has estimated a cost of €1.5 billion to the Exchequer as a result of the level 5 restrictions. The estimated cost arises from both an increase in public expenditure and a decline in tax receipts. There is a considerable amount of uncertainty in relation to this estimate, depending on, inter alia, individual take-up, firm-level decisions and sector specific impacts....

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: I propose to take Questions Nos. 108, 138, 193 and 200 together. The purpose of the Stay and Spend scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions. Stay and Spend provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per...

Written Answers — Department of Finance: Value Added Tax (26 Nov 2020)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive, with which Irish VAT law must comply. The EU VAT Directive does not allow for a zero rate of VAT to be applied to condoms.

Written Answers — Department of Finance: Banking Sector (26 Nov 2020)

Paschal Donohoe: I am conscious of the fact that the general level of lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that rates have been falling. For example, interest rates on new fixed rate mortgages (excluding renegotiations) have fallen from 4.11% in December 2014 to 2.64% in September of this...

Written Answers — Department of Finance: Tax Rebates (26 Nov 2020)

Paschal Donohoe: In Budget 2015, the Seed Capital Scheme (SCS) was relaunched and rebranded as SURE, or Start-up Refunds for Entrepreneurs. SURE provides a refund of tax paid in the previous 6 tax years to those in PAYE employment or those recently unemployed, where they invest funds into a new company set up by them. The general conditions for SURE are that you must: - establish a new company carrying on a...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (26 Nov 2020)

Paschal Donohoe: In keeping with good practice, my officials review all schemes regularly to ensure that they are achieving their policy intention and are operating as expected. In relation to accelerated corporation tax loss relief, I understand that Revenue received over 150 interim claims for accelerated corporation tax loss relief during the period 1 August to 30 October 2020 and the total cash value of...