Results 22,921-22,940 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Economic Policy (14 Jan 2021)

Paschal Donohoe: At the time of Budget 2021 in October, my Department forecast GDP growth of about 1 ¾ per cent for this year. These projections were based on the assumptions that a vaccine for Covid-19 would not be widely available before the end of this year and that bilateral trade between Ireland and the UK would take place on WTO terms from January. However, the public health and economic...

Written Answers — Department of Finance: Banking Sector (14 Jan 2021)

Paschal Donohoe: I appreciate the stress and uncertainty that many borrowers are facing, and that they will continue to need assistance and support from their lenders. It is the clear expectation of both the Central Bank and I that lenders engage effectively and sympathetically with distressed borrowers – in line with the Code of Conduct on Mortgage Arrears, the Consumer Protection Code and...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 71, 72 and 77 together. I am aware 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 certain mortgage rates have been falling in Ireland.  For example, the interest rates on new fixed rate mortgages (excluding...

Written Answers — Department of Finance: House Prices (14 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 73 and 74 together. The Central Bank of Ireland, as part of its independent mandate to preserve and protect financial stability in Ireland, has statutory responsibility for the regulation of mortgage lending by banks and other regulated entities. In line with this mandate, the Central Bank introduced macroprudential measures for residential mortgage...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 75 and 76 together. I would draw attention to the comprehensive package of business and employer supports that have been made available since the July Stimulus Plan and Budget 2021, including the Covid Restriction Support Scheme (CRSS), the Credit Guarantee Scheme, the SBCI Working Capital Scheme, Sustaining Enterprise Fund, and the Covid-19 Business Loans...

Written Answers — Department of Finance: Consultancy Contracts (14 Jan 2021)

Paschal Donohoe: I wish to advise the Deputy of the following details in response to his question. The Department of Finance/ESRI Joint Research Programme is funded by my Department and the Revenue Commissioners and involves ongoing project collaboration across all three parties in the policy areas of banking, taxation and the economy. Now into its seventh year, the project scope of the programme to...

Written Answers — Department of Finance: Value Added Tax (20 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 125 to 129, inclusive, together. I am advised by Revenue that under the provisions of the VAT Consolidation Act 2010 and the VAT Directive the use of the flat-rate scheme for farmers is restricted to farmers engaged in an agricultural, forestry or fisheries undertaking and to the engagement by those farmers in agricultural production activities and...

Written Answers — Department of Finance: Mortgage Lending (20 Jan 2021)

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation...

Written Answers — Department of Finance: Revenue Commissioners (20 Jan 2021)

Paschal Donohoe: As the Deputy is aware, the tax affairs of identified individual taxpayers, including companies, cannot be disclosed due to the obligation to protect taxpayer confidentiality as provided for by section 851A of the Taxes Consolidation Act, 1997. It is an offence for a Revenue official to directly or indirectly disclose taxpayer information to third parties, including the Minister for Finance,...

Written Answers — Department of Finance: Revenue Commissioners (20 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 132, 145, 147 and 152 together. In March 2020 Revenue introduced a short-term concessionary measure in relation to the operation of benefit-in-kind (BIK) on employer-provided vehicles having regard to the unprecedented situation arising as a result of the COVID-19 pandemic. The concessionary treatment applicable to BIK on employer-provided vehicles, along...

Written Answers — Department of Finance: Value Added Tax (20 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 133 and 155 together. As provided for in the Withdrawal Agreement and the Protocol on Ireland/Northern Ireland, Northern Ireland will remain within the EU VAT regime in respect of goods and therefore the trade in goods including second-hand goods between Ireland and Northern Ireland will continue as before from a VAT perspective. However, imports from...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 134, 135, 139 and 160 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. Details of the scheme are set out in Finance Act 2020 and detailed guidelines on the operation of...

Written Answers — Department of Finance: Mortgage Interest Rates (20 Jan 2021)

Paschal Donohoe: There is a wide diversity in national mortgage markets, and such mortgage markets have evolved and developed over time having regard to their particular social, economic and other characteristics. Fixed rate mortgages of long duration are popular in Denmark and in some other countries, but other countries tend to have markets where variable or short term fixed interest rates are more...

Written Answers — Department of Finance: Help-To-Buy Scheme (20 Jan 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive, 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 Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the...

Written Answers — Department of Finance: Primary Medical Certificates (20 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 138, 148 and 150 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 1stJanuary 2021. This is considered to be an interim solution only. A comprehensive review of the scheme, to include a broader review of mobility...

Written Answers — Department of Finance: Covid-19 Pandemic (20 Jan 2021)

Paschal Donohoe: The Government agreed on 30 December 2020 that Level 5 as set out in the Plan for Living with COVID-19 will apply nationally. The Department of the Taoiseach has published the List of Essential Services at Level 5 (available at the link below). Essential workers are those providing the services set out in the list. Physical attendance at workplaces is only permitted where such services can...

Written Answers — Department of Finance: Tax Reliefs (20 Jan 2021)

Paschal Donohoe: I am advised by Revenue that the annual cost of the Special Assignee Relief Programme (SARP), the number of taxpayers participating in the scheme, and the average benefit per assignee are available in reports published on the Revenue website at link: . These reports provide the relevant data for the years 2012 to 2018, the latest year for which data are available. Revenue further advise me...

Written Answers — Department of Finance: Covid-19 Pandemic (20 Jan 2021)

Paschal Donohoe: I wish to advise the Deputy that I am not aware of any staff of the Department receiving the Covid-19 vaccine.

Written Answers — Department of Finance: Primary Medical Certificates (20 Jan 2021)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a Fuel Grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Brexit Issues (20 Jan 2021)

Paschal Donohoe: Since January 1, following the end of the transition period on 31 December 2020, the UK has been outside the EU Single Market and Customs Union and this means that a range of new formalities apply to goods moving to, from or through the United Kingdom, excluding Northern Ireland. I am aware that Revenue fully appreciates that the new regulatory requirements and customs formalities...