Results 22,861-22,880 of 33,118 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Lending (17 Dec 2020)

Paschal Donohoe: The Deputy may wish to note that, when a loan is sold or transferred, the protections that were available to borrowers prior to the transaction continue to be in place with the new loan owner. This ensures that borrowers whose loans are sold or transferred maintain the same regulatory protections, including under the various Central Bank’s statutory codes of conduct such as the...

Written Answers — Department of Finance: Tax Reliefs (17 Dec 2020)

Paschal Donohoe: The Finance Act 2012 introduced section 825C to the Taxes Consolidation Act, 1997. This section, as amended, provides Income Tax relief for certain individuals assigned during any of the tax years 2012 to 2022 to work in the State. The relief is commonly known as SARP (Special Assignee Relief Programme). The aim of the relief is to reduce the cost to employers of assigning skilled individuals...

Written Answers — Department of Finance: Mortgage Interest Relief (17 Dec 2020)

Paschal Donohoe: A limited form of Income Tax relief is available to certain taxpayers for interest payments on a qualifying mortgage loans, as set out in section 244 of the Taxes Consolidation Act, 1997. The relief has expired for mortgages taken out prior to 2004 and ceased for new borrowings from January 2013. The residual Mortgage Interest Relief is therefore only available on qualifying mortgage...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Jan 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (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. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable...

Written Answers — Department of Finance: Insurance Industry (13 Jan 2021)

Paschal Donohoe: As the Deputy will be aware, the Government's Action Plan for Insurance Reform, launched last month, sets out 66 actions to bring down costs for consumers and business; introduce more competition into the market; prevent fraud and reduce the burden that insurance costs can have on business, community and voluntary organisations. The implementation of the Action Plan will be overseen by the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 203, 206, 208 to 210, inclusive, 222, 229 and 236 together. The Covid Restrictions Support Scheme (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. The support is available to companies, self-employed individuals and...

Written Answers — Department of Finance: Tax Credits (13 Jan 2021)

Paschal Donohoe: As the Deputy will appreciate, the introduction of any new tax expenditure measures would arise in the context of the Budget and Finance Bill process. Furthermore, I must always be mindful of the public finances and the many demands on the Exchequer. Tax reliefs, no matter how worthwhile in themselves, lead to a narrowing of the tax base. Proposals for tax expenditure measures should be...

Written Answers — Department of Finance: Living City Initiative (13 Jan 2021)

Paschal Donohoe: The Living City Initiative (LCI) was provided for in Finance Act 2013 and commenced on 5th May 2015. In my Budget 2020 speech, I announced that the LCI would be extended from 5 May 2020 to 31 December 2022. It 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...

Written Answers — Department of Finance: Tax Reliefs (13 Jan 2021)

Paschal Donohoe: The rationale behind income tax relief for health expenses is broadly intended to provide assistance for those expenses of a significant or exceptional nature. Expenses for treatment of a routine nature or minor nature are therefore typically excluded. An example of this is that routine dental treatment does not attract the relief, though orthodontic treatment would. Consistent...

Written Answers — Department of Finance: National Asset Management Agency (13 Jan 2021)

Paschal Donohoe: As the Deputy will be aware, NAMA does not typically own or sell properties, rather NAMA owns loans for which the properties act as security. Secured properties remain in the ownership and control of their registered owners, or appointed receivers where applicable. These parties also manage the sales process. As regards the property referenced by the Deputy, I am advised that the property...

Written Answers — Department of Finance: Value Added Tax (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 212 and 231 together. I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply...

Written Answers — Department of Finance: Departmental Contracts (13 Jan 2021)

Paschal Donohoe: My Department has not awarded any contract to ‘Competence Assurance Solutions Ltd, trading as CAS’ in the 5 year time frame from 1 January 2016 to 31 December 2020. In relation to the seventeen Bodies under the aegis of my Department (listed below), I am informed that none of these bodies have awarded a contract to this company in the time frame concerned. Comptroller and...

Written Answers — Department of Finance: Vehicle Registration Tax (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 214 to 216, inclusive, together. I am advised by Revenue that because of the interruptions to the operation of National Car Testing (NCT) centres and the continuing need to limit the number of customers attending the centres due to COVID 19 restrictions, there are delays in getting pre-registration inspection appointments.  Revenue is aware that some...

Written Answers — Department of Finance: Public Expenditure Data (13 Jan 2021)

Paschal Donohoe: My Department has had no capital project contracts that exceeded the tender value by more than 20% in each of the years 2010 to 2020.

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 218, 221, 223, 238, 243, 244 and 257 together. Following approval of the Finance Act 2020, which provides for the medical criteria for the Disabled Drivers Scheme, the HSE has been informed that medical assessments can recommence from 1 January 2021. This is considered to be an interim solution only. A comprehensive review of the scheme, to include a...

Written Answers — Department of Finance: Tax and Social Welfare Codes (13 Jan 2021)

Paschal Donohoe: In situations where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other. The basis for the current tax treatment of married couples...

Written Answers — Department of Finance: Interest Rates (13 Jan 2021)

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...

Written Answers — Department of Finance: Help-To-Buy Scheme (13 Jan 2021)

Paschal Donohoe: The Help to Buy incentive (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. The incentive is scheduled to operate until the end of 2021. HTB...

Written Answers — Department of Finance: Third Level Costs (13 Jan 2021)

Paschal Donohoe: As the Deputy will appreciate, the operation of support measures for third level students is a matter for the Minister for Further and Higher Education, Research, Innovation and Science. Generally speaking, all payments to individuals are taxable in the hands of the recipient unless specifically exempted. However, the basis on which the payment is made is a determining factor in the...

Written Answers — Department of Finance: Tax Exemptions (13 Jan 2021)

Paschal Donohoe: Section 195 of the Taxes Consolidation Act 1997 provides for the exemption of certain earnings of writers, composers and artists and allows the Revenue Commissioners to make determinations in respect of artistic works in the following categories only: - a book or other writing - a play - a musical composition - a painting or other like picture - a sculpture. Guidelines...