Results 25,121-25,140 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (12 Oct 2021)

Paschal Donohoe: Officials in my Department referred the Deputy's question to the banks in which the State has a shareholding and received the following response in this regard: AIB The retail banking environment has dramatically changed in the last number of years with customers favouring online banking and digital payment methods over the use of cash and visits to branches. AIB have seen daily branch visits...

Written Answers — Department of Finance: Departmental Contracts (12 Oct 2021)

Paschal Donohoe: I wish to advise the Deputy that as per the Public Procurement Guidelines for Goods and Services my Department has not utilised, in 2020 or 2021 to date, the ‘negotiated procedure without prior publication’ which is one of the six procedures for awarding of contracts of values over EU Threshold (€139,000). The Negotiated Procedure without Prior Publication is an...

Written Answers — Department of Finance: Tax Code (12 Oct 2021)

Paschal Donohoe: Council Directive 2011/64/EU sets out EU rules on the structure and rates of excise duty applied to manufactured tobacco. The Directive defines and classifies various manufactured tobacco products according to their characteristics and lays down the relevant minimum rates of excise duty for the different types of products. The purpose of the Directive is to ensure the proper functioning of...

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

Paschal Donohoe: Stamp duty relief for young trained farmers provides for a total exemption from stamp duty (currently 7.5%) on either the transfer by gift, or purchase, of farmland (and associated buildings) where the recipient is a trained farmer under the age of 35 and meets other specified criteria. It is legislated for in Section 81AA on the Stamp Duties Consolidation Acts 1999 (SDCA 1999), titled...

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

Paschal Donohoe: In accordance with my Department's Tax Expenditure Guidlines, generally speaking, tax measures are usually extended for a three-year period at any one time. As the Deputy will be aware, I announced in the Budget yesterday that the various stock relief measures are to be extended in Finance Bill 2021. Section 666 of the Taxes Consolidation Act (TCA) 1997, which provides that the amount...

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

Paschal Donohoe: I note that the details supplied by the Deputy refers to a situation involving motor trade insurance, which I understand is not a standard private motor insurance policy. Neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by...

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

Paschal Donohoe: As noted in my response to the Deputy on 9thSeptember in PQ 42112/21, the Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. Details of these reliefs and the grant in respect of fuel usage are available on the Revenue website. The relief from Value...

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

Paschal Donohoe: The research and development (R&D) tax credit allows a company to claim a 25% tax credit in respect of expenditure incurred on qualifying R&D activities. In making a claim for the R&D tax credit, companies must satisfy two tests: the activity must be a qualifying activity (a science test) and the amount of the claim must be based on R&D expenditure incurred (an...

Written Answers — Department of Finance: Departmental Data (13 Oct 2021)

Paschal Donohoe: The Deputy will be aware that I have consistently indicated that there would likely be a significant cost to the Exchequer arising from an agreement reached at the G20/OECD Inclusive Framework on BEPS. Firstly, it should be stressed that there are two pillars to this agreement. Pillar One will see a reallocation of a proportion of profits to the jurisdiction of the consumer. This means...

Written Answers — Department of Finance: Illicit Trade (13 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 113 and 114 together. I am aware that Revenue uses a range of measures to identify and target the smuggling, supply or sale of illicit tobacco products, with a view to disrupting the supply chain, seizing the products and where possible, prosecuting those involved. Revenue’s strategy involves developing and sharing intelligence on a national, EU and...

Written Answers — Department of Finance: Tax Collection (13 Oct 2021)

Paschal Donohoe: Revenue has issued over 1.4 million notices to property owners in recent weeks, setting out what is required to meet Local Property Tax (LPT) obligations for the new ‘valuation period’ (2022 to 2025). This includes approximately 200,000 hard-copy LPT returns to property owners who have not previously availed of the online options. Revenue is also operating an LPT Helpline...

Seanad: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Second Stage (14 Oct 2021)

Paschal Donohoe: The purpose of this legislation is to seek the approval of the Oireachtas to ratify two amending agreements agreed by the Eurogroup last November, with the objective of strengthening the crisis resolution capabilities of the euro area. In summary, the two amending agreements provided for the reform of the European Stability Mechanism, ESM, as well as the introduction of the common backstop...

Seanad: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Second Stage (14 Oct 2021)

Paschal Donohoe: I thank the Acting Chairperson and I thank the Senators for their contributions. I wish to emphasise the two overriding objectives of this legislation in my concluding comments. The first one is the priority of trying to ensure that if there is a further banking difficulty, the taxpayer is protected from that, and the money that the banking sector contributes into what will eventually become...

Written Answers — Department of Finance: Tax Code (14 Oct 2021)

Paschal Donohoe: The flat rate expense (FRE) regime is operated by Revenue on an administrative basis. It applies where both a specific commonality of expenditure exists across an employment category and the statutory requirement for the tax deduction as set out in section 114 Taxes Consolidation Act (TCA) 1997 is satisfied, namely, that the expenses are wholly, exclusively and necessarily incurred in the...

Written Answers — Department of Finance: Community Employment Schemes (14 Oct 2021)

Paschal Donohoe: The issue to which the Deputy's question refers is one for the Minister for Social Protection in the first instance. However, I can confirm that I have been consulted in relation to the matter and I stand ready to engage in a positive way when further progress has been made between the parties directly involved.

Written Answers — Department of Finance: Financial Services (14 Oct 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 or were economically impacted by the pandemic. In relation to the issue of persons that availed of pandemic unemployment payments and as a result were placed in a position that they were required to restructure credit...

Written Answers — Department of Finance: Illicit Trade (20 Oct 2021)

Paschal Donohoe: I am advised by Revenue that they use a range of measures to tackle the sale of illicit cigarettes on the black market. At the core of these measures is identifying and targeting the smuggling of illicit tobacco products into the State, with a view to disrupting the supply chain, seizing the products and, where possible, prosecuting those involved. Revenue’s strategy involves...

Written Answers — Department of Finance: Departmental Contracts (20 Oct 2021)

Paschal Donohoe: Deputy, in relation to your question concerning Kinzen Limited previously known as Neva Labs, I wish to advise that no meetings have been held and no correspondence has been conducted with this company, either by myself or by any official from my Department. I can also confirm that my Department has not engaged the services of Kinzen Limited previously known as Neva Labs and that no payment...

Written Answers — Department of Finance: Tax Code (20 Oct 2021)

Paschal Donohoe: Council Directive 2011/64/EU sets out EU rules on the structure and rates of excise duty applied to manufactured tobacco. The Directive defines and classifies various manufactured tobacco products according to their characteristics and lays down the relevant minimum rates of excise duty for the different types of products. The purpose of the Directive is to ensure the proper functioning of...

Written Answers — Department of Finance: Customs and Excise (20 Oct 2021)

Paschal Donohoe: Council Directive 92/83/EEC, also known as the “Alcohol Structures Directive”, lays down a harmonised approach for the application of excise duties on alcohol and alcoholic beverages in the EU. It sets out the categories of alcohol and alcoholic beverages that fall within scope of taxation and the basis on which excise duties on such products are to be established. Council...