Results 24,321-24,340 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Schemes (22 Jun 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: The 2012 inter-Departmental Group which considered the structures and modalities of a property tax recommended that a universal liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. While...

Written Answers — Department of Finance: Financial Services (22 Jun 2021)

Paschal Donohoe: I am keenly aware of the issue of equal access to financial services and products for those who previously have had cancer, and note the statistics supplied, which relate to difficulties experienced by some in accessing life insurance. I am also aware of reports of some customers experiencing issues in obtaining mortgage protection cover as a result of having higher risk conditions...

Written Answers — Department of Finance: State Bodies (22 Jun 2021)

Paschal Donohoe: A number of the bodies under the aegis of my Department have incurred negative interest rate charges in Irish banks, details of which are set out below. Home Building Finance Ireland (HBFI) was established in December 2018, at which time there was a requirement to open a number of accounts to allow day to day operations and activities to be undertaken. Since December 2018, HBFI has been...

Written Answers — Department of Finance: Tax Reliefs (22 Jun 2021)

Paschal Donohoe: The latest costs available for the Special Assignee Relief Programme (SARP), can be found in the 'Statistics on Special Assignee Relief Programme 2018' report which is published on the Revenue website. According to that report, in 2018 SARP had an Exchequer cost of €42.4 million. This is the latest data available. I expect the cost for 2019 should be available later in...

Written Answers — Department of Finance: Tax Credits (22 Jun 2021)

Paschal Donohoe: I am advised by Revenue that is not possible to accurately predict the yield from ending the payable element of the Research and Development (R&D) tax credit, as information in respect of the future payments of the credit, which is dependent on both the future profitability of claimant companies as well as their level of qualifying R&D activity, cannot be known in...

Written Answers — Department of Finance: Financial Services (22 Jun 2021)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. I am advised that where a complaint is made to the FSPO concerning a joint account or a joint policy, the FSPO must recognise that all parties to...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: As I stated in my reply to PQ 30710 of 15 June, Revenue uses a European standard classification system, known as ‘NACE’ to categorise the economic activities or sectors of taxpayers. In the NACE system, dog breeding or dog selling are not separately categorised. In addition, these types of operations are often part of wider economic activities undertaken by taxpayers and it is...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 229 and 230 together. It is unclear what the Deputy is referring to and if he has any specific concerns, I will be happy to address those if further details can be provided. However, I can assure him that Ireland has a clear and transparent statutory corporation tax regime that applies to all companies equally and raises billions in revenue each year....

Written Answers — Department of Finance: Departmental Staff (22 Jun 2021)

Paschal Donohoe: The staff of my Department are paid in line with Government pay policy and there are currently 6 civil servants in my Department whose salaries are less than the living wage of €12.30 per hour. It should be noted that, of these, 5 officers will move above the living wage rate of €12.30 per hour when they move to the next increment step of their respective salary scales. The 1...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (23 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 89 to 92, inclusive, together. The Temporary Wage Subsidy Scheme (TWSS) was in place for 22 weeks between 26 March and 31 August 2020. It was introduced as an emergency income support for eligible employees where the employer’s business activities were negatively impacted by the COVID-19 pandemic. Over 66,600 employers received a subsidy under the TWSS...

Written Answers — Department of Finance: Approved Housing Bodies (23 Jun 2021)

Paschal Donohoe: Since 2018, Approved Housing Bodies (AHBs) have been classified in the General Government sector by Eurostat, the statistical office of the European Union. Consequently, all AHBs revenue and expenditure is classified as general government revenue and general government expenditure while borrowing by the AHBs, from outside the General Government sector i.e. the private sector, will add to the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (23 Jun 2021)

Paschal Donohoe: The rate of Pandemic Unemployment Payment (PUP) payable to individuals is a matter for the Department of Social Protection (DSP). I am advised by Revenue that, regarding taxation, PUP payments are classed as income and as such are liable to tax but not PRSI or Universal Social Charge (USC). In 2020, PUP was taxed at year end rather than in the normal real-time manner due to the urgent...

Written Answers — Department of Finance: Banking Sector (23 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 95 and 97 together. There are certain legal and regulatory requirements which govern the provision of mortgage credit to consumers.  For example, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the...

Written Answers — Department of Finance: Tax Reliefs (23 Jun 2021)

Paschal Donohoe: Tax relief for Trade Union subscriptions was previously provided for under section 472C of the Taxes Consolidation Act 1997. The relief was introduced in 2001 and abolished from 2011 onwards. A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax...

Written Answers — Department of Finance: Tax Rebates (24 Jun 2021)

Paschal Donohoe: I am informed by Revenue that the information provided on VAT returns does not require identification of sales or costs on individual activities or products. Therefore, the amount of VAT paid (or refunded) in relation to any specific activity, such as COVID-19 related health and safety works, is not separately available to estimate the cost requested by the Deputy.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Jun 2021)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide enterprise support that provides a flat rate subsidy to qualifying employers based on the numbers of eligible employees on their payrolls. The EWSS replaced the Temporary Wage Subsidy Scheme which ceased on 31 August 2020. To be eligible for EWSS, an employer must have tax clearance for the duration of the scheme and be able to...

Written Answers — Department of Finance: Tax Credits (24 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the tapering out of tax credits on income above €100,000, at a rate of 2.5% per €1,000 of income, such that the taxpayer has no entitlement to credits at an income level above €140,000, would yield an estimated €236 million and €286 million on a first and full year basis respectively. I am further advised by Revenue that...

Written Answers — Department of Finance: Financial Services (24 Jun 2021)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. The Financial Services and Pensions Ombudsman Act 2017 prescribes certain time limits for the making of a complaint to the FSPO about the conduct of...

Written Answers — Department of Finance: Vehicle Registration Tax (24 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 196 and 197 together. Following the withdrawal of the UK from the European Union, an import of a vehicle from Great Britain is treated as an import from a third country, i.e. a non-EU country.  I am advised by Revenue that, if a vehicle is imported from Great Britain into Ireland, the importer is required to complete a customs declaration and pay customs...