Results 25,161-25,180 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Schemes (19 Oct 2021)

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the ‘Cycle to Work’ scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment for an employee. The scheme is designed to be administratively simple in order to encourage employers to participate. Under section 118B TCA...

Written Answers — Department of Finance: Primary Medical Certificates (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 355 and 356 together. The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain...

Written Answers — Department of Finance: Pensions Reform (19 Oct 2021)

Paschal Donohoe: It is assumed that the Deputy’s Question concerns the rules relating to retirement age and the level of drawdowns from Approved Retirement Funds (ARF).  I am advised by Revenue that there is no link between the age at which a person may access her/his ARF and the age at which a person may receive a State social welfare pension.  Such pensions are a matter for the Minister for...

Written Answers — Department of Finance: Tax Rebates (19 Oct 2021)

Paschal Donohoe: The Diesel Rebate Scheme (DRS) for hauliers and bus operators, has been continuously in operation since 1 July 2013.   The DRS is operated by the Revenue Commissioners, who will repay some of the mineral oil tax paid by a qualifying road transport operator when the diesel is: - purchased by the business within the state - used in the course of business...

Written Answers — Department of Finance: Insurance Coverage (19 Oct 2021)

Paschal Donohoe: I am aware of the issue of equal access to financial services, such as mortgage protection cover, for those who have recovered from cancer, including breast cancer.  At the outset, it should be noted that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, or have the power to direct insurance companies to provide cover to specific...

Written Answers — Department of Finance: Pension Levy (19 Oct 2021)

Paschal Donohoe: I assume the Deputy is referring to the Stamp Duty levy on pension schemes. I am advised by Revenue that amounts of levy collected, for the years 2011 to 2015, are published on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statis tics/receipts/receipts-stamp-duty.aspx. For the convenience of the Deputy, the amounts of the levy collected are as follows:...

Written Answers — Department of Finance: Departmental Schemes (19 Oct 2021)

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the ‘Cycle to Work’ scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment for an employee. Under section 118B TCA 1997 an employer and employee may also enter into a salary sacrifice arrangement under which the employee...

Written Answers — Department of Finance: Banking Sector (19 Oct 2021)

Paschal Donohoe: The retail financial services sector is undergoing a major period of change.  This year so far we have seen several major announcements including the withdrawal of Ulster Bank by NatWest and the potential withdrawal of KBC Bank Ireland, the closure of a large number of bank branches by Bank of Ireland and a smaller number by AIB. Decisions in this regard, including the management of...

Written Answers — Department of Finance: Customs and Excise (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the Automated Import System (AIS), Revenue’s new import system, is fully operational since 23 November 2020. The system has handled over 13 million import declarations since it went live in November.  There are currently 94,528 businesses who have registered for Customs and have an active Irish Economic Operators Registration and Identification (EORI)...

Written Answers — Department of Finance: Insurance Coverage (19 Oct 2021)

Paschal Donohoe: As the outset, let me state 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 the EU Single Market framework for insurance (the Solvency II Directive). While NCT policy is the responsibility of the Minister for...

Written Answers — Department of Finance: Vehicle Registration Tax (19 Oct 2021)

Paschal Donohoe: Vehicle Registration Tax (VRT) is a tax chargeable on the registration of vehicles in the State and is levied as a percentage of the open market selling price (OMSP) of the vehicle. The VRT rate is calculated on the basis of CO2 emissions, so that cars with higher CO2 emissions attracted a higher tax liability. VRT does not apply to second-hand vehicles unless they are imported from...

Written Answers — Department of Finance: Revenue Commissioners (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that it operates three mobile container x-ray scanners and one x-ray backscatter van which are sufficient to meet its operational needs. A tender process is currently underway and funding is in place to replace one of the mobile container scanners which is at end of life. Revenue keeps its operational requirements under continuous review, having regard to...

Written Answers — Department of Finance: Legislative Measures (19 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government includes a commitment to introduce a Senior Executive Accountability Regime (SEAR). The SEAR is a key element of the Individual Accountability Framework Bill and will drive positive changes in terms of culture, greater delegation of responsibilities, and enhanced accountability while simplifying the taking of sanctions against...

Written Answers — Department of Finance: EU Funding (19 Oct 2021)

Paschal Donohoe: The EU taxonomy for sustainable activities being developed at present is a harmonised classification system for environmentally sustainable economic activities. The Taxonomy will have a significant role in supporting the mobilisation of capital towards sustainable investments through providing common definitions to companies, investors and policymakers on what constitutes an...

Written Answers — Department of Finance: Tax Reliefs (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the latest costs available for the Special Assignee Relief Programme (SARP) can be found in the 2019 SARP report which is published on the Revenue website and as part of the Budget 2022 Tax Expenditures Report on the Government's Budget 2022 website. The cost of SARP for 2018 and 2019 (the latest year for which data are available), can be found below: ...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 370 and 383 together. As part of the Government’s response to Covid-19, Budget 2021 brought the VAT rate for Hospitality and Tourism related services and goods down from 13.5% to 9%. This was initially planned for 14 months, from 1 November 2020 to 31 December 2021. This was then extended to 31 August 2022 in recognition of the difficulties facing...

Written Answers — Department of Finance: Tax Credits (19 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, in my Budget 2022 speech, I announced that I propose to introduce  a tax disregard in respect of personal income received by households who sell residual electricity that they generate back to the grid, in the forthcoming Finance Bill.  The amount of the disregard will be set at €200.  This figure should ensure that most participants will pay...

Written Answers — Department of Finance: Credit Unions (19 Oct 2021)

Paschal Donohoe: The Central Bank have informed me that they cannot comment on the position regarding individual credit unions. However, the Central Bank have informed me that in relation to distributions to members, which can take the form of payment of dividends and/or loan interest rebates, credit unions must comply with specific requirements set out in the Credit Union Act, 1997 (the 1997...

Written Answers — Department of Finance: Credit Unions (19 Oct 2021)

Paschal Donohoe: The credit union sector pays four material levies and charges. Three of these levies – Deposit Guarantee Scheme, Resolution and Stabilisation – are used to build up funds that are available to protect member’s savings. The fourth levy is an Industry Funding Levy set by the Central Bank to offset the cost of regulation. Industry Funding Levy Since 2004, the amount of the...

Written Answers — Department of Finance: Fuel Sales (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 374, 375 and 376 together. Solid fuel (coal and peat) is liable to excise duty in this jurisdiction in the form of Solid Fuel Carbon Tax (SFCT). SFCT is a national excise and applies at different rates to four categories of solid fuel including coal, peat briquettes, milled peat and other peat. The SFCT rate on coal, currently €88.23 per tonne,...