Results 24,821-24,840 of 33,175 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: I thank Deputy Nash for his point and I, of course, respect also the judgment he is bringing to bear on this and the view of the Labour Party on it. The key point I would make to the Dáil this evening, however, is the current text in relation to this agreement contains far too many uncertainties for me to be able to recommend to the Government and then to the Dáil that we should...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: At the conclusion of this process, it will be appropriate for me to give a broader perspective on the work that has happened in the OECD, in the European Union and elsewhere in pursuit of our objectives regarding corporate tax policy and the stability of the rate. This is a project that has been going on for a number of years. It is one in which I have been totally involved. We will get...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: I would say briefly to Deputy Nash, if I may, that if I had entered the agreement earlier in the process a question that Irish industry and the Dáil would be putting to me is, what I believe the rate will be in the future. As long as it is described as at least 15%, that certainty is not there.

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 9 and 13 together. This 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 certain limits. The scheme was enhanced in 2020 as part of the July...

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: If I may begin with Deputy Connolly, the value of the tax strategy group paper is it lays out different options that the Government can consider in the run-up to the budget. At this point, I cannot indicate the future of the scheme because the Government has not made a decision on it. It will be made on budget day. I note what the tax strategy group papers stated about the need for a more...

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: The reason fewer purchases happened is because of how long the economy was locked down in 2020. There were fewer opportunities for homes to be bought than there would have been in the previous year.

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: The reason the cost went up is because in the middle of the year we enhanced the scheme. That is the reason. As to the point Deputy Smyth made, as I stated a moment ago, I am well aware of the importance of the scheme. If Deputy Connolly is concerned about the answer I gave, she would even be more concerned if I indicated a budget day decision three weeks before the budget. All of these...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 10, 35, 38 and 56 together. I thank the Deputies for their questions. I am advised by Revenue that, while working remotely does not entitle PAYE workers to a specific tax credit, a combination of legislative provisions and administrative practices provide relief for remote workers who incur certain expenditure in the performance of the duties of their...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: Always, a Cheann Comhairle. However, we have to ensure that the ambition of today is also affordable tomorrow. This is a matter that the Government Deputies at least are aware of. I am aware of the importance of how we support the move to working away from the office. Deputy Moynihan made an important point that I will consider, and I thank him for raising it. Regarding the...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: To go back to the issue the Deputies' touched on a moment ago, Deputy Carroll MacNeill made the point about the financial services sector. It is the case that many companies in the services sector have become more profitable and more successful during this period. In the context then of working from home and the additional costs of that, this is an issue employers and employees need to work...

Written Answers — Department of Finance: Banking Sector (21 Sep 2021)

Paschal Donohoe: My officials and I have ongoing engagement with each of the banks in which the State has a shareholding, including PTSB. This engagement has been in place since the State first invested in the banks and it includes regular meetings where a wide range of topics are discussed. With regard to the withdrawal of Ulster Bank from the Irish market, I have had various discussions with its...

Written Answers — Department of Finance: Tax Code (21 Sep 2021)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. Under domestic legislation, professional medical care services recognised as such by the Department of Health are exempt from VAT. Professional medical care services recognised by the Department of Health are generally those medical care services supplied by health...

Written Answers — Department of Finance: Budget 2022 (21 Sep 2021)

Paschal Donohoe: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. These can range from highly detailed and developed proposals for specific changes to existing taxes, reliefs, exemptions and allowances to more straightforward requests, for example, to increase the single person tax credit. Many submissions contain proposals...

Written Answers — Department of Finance: Economic and Social Research Institute (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 18 and 59 together. It is important to recognise that the Government receives advice from many quarters on many issues. In relation to borrowing, I am aware of the ESRI analysis but, equally, I am aware of other pieces of analysis - including most recently from the Irish Fiscal Advisory Council- that highlight the risks associated with more-and-more...

Written Answers — Department of Finance: Tax Yield (21 Sep 2021)

Paschal Donohoe: The Exchequer has benefited from better-than-expected corporation tax receipts this year. As of August, the most recent available data, corporation tax receipts were €859 million, or 14 per cent ahead of target and up by some €524 million, or just over 8 per cent ahead of the same period last year. This over-performance is significant, but would have been even higher were it not...

Written Answers — Department of Finance: Inflation Rate (21 Sep 2021)

Paschal Donohoe: I am very conscious of the pick-up in consumer price inflation in recent months. While Covid-19 had a deflationary impact both in Ireland and internationally last year, inflation has picked up since the beginning of this year. In Ireland, the annual rate of HICP inflation rose to 3 per cent in August – the highest rate since 2008; similar trends have been observed across other advanced...

Written Answers — Department of Finance: National Treasury Management Agency (21 Sep 2021)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me, that the net Exchequer cash interest paid in respect of Ireland’s National Debt in 2020 was just over €4.5bn. This was a reduction of over €0.5bn, or more than 10% on the 2019 figure and some 40% below the 2014 peak. In the first eight months of 2021, National Debt interest totalled just over €3.2bn,...

Written Answers — Department of Finance: Credit Unions (21 Sep 2021)

Paschal Donohoe: I thank the Deputy for his question. Since the beginning of the year, I have held nineteen meetings with various credit union stakeholders including credit unions themselves, Representative Bodies, various collaborative ventures, the Registrar of Credit Unions and the Credit Union Advisory Committee. These meetings have proven to be very informative and their outputs will feed into the...

Written Answers — Department of Finance: Tax Code (21 Sep 2021)

Paschal Donohoe: The present position is that agricultural contractors are not entitled to avail of relief from increases in the carbon tax on farm diesel under section 664A of the Taxes Consolidation Act 1997. This is because farming, which is defined in section 654 of the Taxes Consolidation Act, requires that the occupation of farmland; agricultural contracting does not involve the occupation of farmland....

Written Answers — Department of Finance: Insurance Industry (21 Sep 2021)

Paschal Donohoe: This Government recognises the importance of a stable, well-functioning and competitive insurance industry. Therefore the Action Plan for Insurance Reformset out 66 actions across a number of policy areas which is aimed at reducing volatility in the market, removing barriers to entry and making Ireland more attractive to insurance companies. The Government recently published the first Action...