Results 23,561-23,580 of 33,175 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Tax Code (31 Mar 2021)

Paschal Donohoe: I am very much aware of the issues Deputy Doherty has referred to and the hardship many people in our agricultural community are facing due to the issues of the pandemic and the consequences of Brexit. However, this measure has been introduced on a phased basis over many years. The ongoing challenges that members of the agricultural community face regarding the costs and impact of carbon...

Ceisteanna Eile - Other Questions: Tax Code (31 Mar 2021)

Paschal Donohoe: I remain committed to the implementation of the carbon tax changes that were included in the Finance Bill. These include the increase in carbon pricing and a number of other fuels from 1 May. I am aware of the issue Deputy Doherty referred to regarding independent agricultural contractors. I remember with the Finance Bill before last referring to difficulties I faced regarding the...

Ceisteanna Eile - Other Questions: Banking Sector Remuneration (31 Mar 2021)

Paschal Donohoe: The Deputy will be aware that Government policy on banking remuneration has remained unchanged since the financial crisis. Extensive restrictions are in place and these are not simply confined to a small number of senior bankers whose pay is restricted by the €500,000 cap. These restrictions affect approximately 23,000 workers across the three banks in which the State has a...

Ceisteanna Eile - Other Questions: Banking Sector Remuneration (31 Mar 2021)

Paschal Donohoe: The Deputy is correct that I did not refer to that in the earlier exchange but I did refer to it, I believe, in the answer I gave to Deputy Doherty. I certainly referred to it on the night of the debate on the banking sector in the Dáil a number of weeks ago on this and other issues. The reason I support it is that if Goodbody is going to be integrated into AIB - and I believe that...

Ceisteanna Eile - Other Questions: Banking Sector Remuneration (31 Mar 2021)

Paschal Donohoe: The reason I have agreed to this particular proposal is that I believe it is good for three Irish companies involved in it - for the company that was looking to sell Goodbody, for Goodbody itself and for AIB. These are all very big employers and are all companies that matter to the economy. Perhaps Deputy Barry is against that transaction happening at all. Although he is against the sale...

Ceisteanna Eile - Other Questions: Illicit Trade (31 Mar 2021)

Paschal Donohoe: I am assured by Revenue that combating the threat which fuel fraud and the illicit alcohol and tobacco trades pose to legitimate businesses, consumers and the Exchequer continues to be a priority. Steps taken by Revenue to combat the illegal mineral oils trade, including home heating oils, include the introduction of stringent supply chain controls and reporting requirements, a rigorous...

Ceisteanna Eile - Other Questions: Illicit Trade (31 Mar 2021)

Paschal Donohoe: I assure the Deputy that all that can be done is being done by An Garda Síochána, their counterparts in Northern Ireland and Revenue on this matter. I accept that the changes to our carbon tax that come into force in May will have an impact on the differentials to which Deputy Smith refers. However, the differentials that can lie behind the smuggling to which the Deputy referred...

Ceisteanna Eile - Other Questions: Illicit Trade (31 Mar 2021)

Paschal Donohoe: Resources are being made available, particularly to the Revenue Commissioners, to deal with the issues referred to by the Deputy. I mentioned earlier the work now being done by Revenue in terms of the joint operations being conducted in low smoke zones. Revenue is collaborating with the Department of the Environment, Climate and Communications and local authority solid fuel inspection teams...

Ceisteanna Eile - Other Questions: Mortgage Insurance (31 Mar 2021)

Paschal Donohoe: When a person applies for a mortgage loan to buy a home, he or she will generally be required to take out mortgage protection insurance. In most cases, a lender is legally required under section 126 of the Consumer Credit Act 1995 to make sure that a mortgage applicant has mortgage protection insurance in place before granting a mortgage loan. This is an important statutory provision...

Ceisteanna Eile - Other Questions: Mortgage Insurance (31 Mar 2021)

Paschal Donohoe: The Deputy made an important point. There is a reason exemptions are provided for in section 126 of the relevant law. I appreciate that many families are in difficult circumstances because of the effects of this disease on them and many others and this issue is dealing them an even harsher blow. I must be precise here because I do not want to mislead the Dáil. I cannot instruct the...

Ceisteanna Eile - Other Questions: Mortgage Insurance (31 Mar 2021)

Paschal Donohoe: I assure the Deputy that in the engagement that the Minister of State, Deputy Fleming, is having with our leading insurance providers on the matters we covered earlier in the debate, he is planning to raise that particular issue.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: The purpose of the Stay and Spend Tax Credit scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. Under the relevant legislation, the scheme is due to expire at the end of next month. Since 1 October 2020, a total of 59,172 receipts have been uploaded to the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 62 and 68 together. The legislative basis for the Covid Restrictions Support Scheme (CRSS) is provided by Section 11 of the Finance Act 2020 and is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities the profits of which are chargeable to tax under Case 1 of Schedule D. A qualifying business...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: The Temporary Wage Subsidy (TWSS) was in place between 26 March and 31 August 2020 and was introduced as an emergency income support for employees of vulnerable firms whose businesses had been negatively impacted by COVID restrictions and whose turnover had reduced by at least 25% during Q2 while the strictest public health measures were in place. The support was paid via the employer so as...

Written Answers — Department of Finance: Tax Reliefs (31 Mar 2021)

Paschal Donohoe: Primary policy responsibility for climate change and housing lies with the Minister for Environment, Climate Change and Communications and the Minister for Housing, Local Government and Heritage. However, in relation to tax-based measures for retrofit projects, my officials considered such a measure in the context of a Tax Strategy Group paper in 2019. That paper was published with the Budget...

Written Answers — Department of Finance: Banking Sector (31 Mar 2021)

Paschal Donohoe: As the Deputy will note, there has been extensive engagement on this topic at the start of this session but I will re-state that the Central Bank already has extensive regulatory powers to investigate and impose sanctions where there are breaches of financial services legislation. The introduction of the Senior Executive Accountability Regime (SEAR), will complement these existing powers,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: The Pandemic Unemployment Payment (PUP) and the Temporary Wage Subsidy Scheme (TWSS) payments are classified in legislation as income supports and as such are subject to income tax. The PUP reflects the standard approach to the taxation of social welfare type payments, which means it is liable to income tax but exempt from the Universal Social Charge (USC) and Pay Related Social Insurance...

Written Answers — Department of Finance: Insurance Costs (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 71, 113 and 386 together. This Government is committed to bringing about meaningful insurance reform, as reflected in the Programme for Government. In this regard, the Action Plan on Insurance Reform contains 66 actions across several departmental policy areas. Its implementation is overseen by a Cabinet Sub-Group on Insurance Reform, the most recent meeting...

Written Answers — Department of Finance: Property Tax (31 Mar 2021)

Paschal Donohoe: The Programme for Government "Our Shared Future" includes a number of commitments in relation to the Local Property Tax (LPT). These are (a) To bring forward legislation for the LPT on the basis of fairness and that most homeowners will face no increase, (b) To bring new homes, which are currently exempt from the LPT, into the taxation system, and that (c) All money collected locally...

Written Answers — Department of Finance: Banking Sector (31 Mar 2021)

Paschal Donohoe: The recent announcements by Ulster Bank and Bank of Ireland represent unfavourable developments for the Irish banking market. These decisions may have an impact on competition in the banking market and are a reflection of the wider challenges banking is facing, not only in Ireland but also abroad. It should also be noted that the banking sector has been strengthened in recent years...