Results 26,161-26,180 of 33,175 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 94, 98 and 106 together. I am advised by Revenue that 22,100 businesses have claimed the CRSS and that a total of €704 million has been paid out. For the EWSS, that figure is now at more than €6.6 billion in respect of 696,900 employees and 51,700 employers. In County Clare, the EWSS is in use for 630 employers and 6,725 employees, while...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I thank the Deputy for recognising the role this role this scheme has played. It has been invaluable in supporting our domestic economy and it will lay the foundation for the continued economic recovery of Ireland from this pandemic. It is valued by many businesses that are on it at the moment. Regarding the particular matter the Deputy has raised, I respectfully say that there is not an...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I was aware of the rates issue and I thank the Deputy for bringing it up. I will have my officials look into it because I appreciate that at this point in the year, given everything that has happened with this disease, the strain and anxiety that smaller hospitality businesses are facing is very intense. I will look into that for the Deputy. On the EWSS, I need to indicate to the...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I thank the Deputy for her question. I will share the full breakdown with her by sector which I have available to me. Very broadly, around 26% of the scheme was made available to the hospitality sector. After that, sectors such as retail are very high recipients of funding from the EWSS. It is available for sectors. I do not have the figures available now, but I will get the information...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Committee Stage (25 Nov 2021)

Paschal Donohoe: If the ESM were to lend that money to the SRF, the ESM would get that money back at a point in the future because it would be a loan. Where I differ from the Deputy is that the issue of conditionality has less relevance here. In the circumstances in which the lending between the ESM and SRF happens, by that point so much action would have taken place that would have had a profound impact on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Committee Stage (25 Nov 2021)

Paschal Donohoe: I disagree with the analysis put forward by the Deputy. This is a piece of legislation that seeks to protect the taxpayer and support and help countries when they are in situations of financial and economic difficulty. In the absence of the credit lines proposed here, countries could find themselves in even tougher and more difficult economic circumstances. Yes, there is conditionality...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Committee Stage (25 Nov 2021)

Paschal Donohoe: No, thank you.

Written Answers — Department of Finance: Tax Exemptions (19 Jan 2022)

Paschal Donohoe: On the introduction of  the Local Property Tax (LPT), the Government decided that a liability to the tax should apply to all owners of residential properties 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. The proceeds of the LPT are largely used in the general...

Written Answers — Department of Finance: Insurance Industry (19 Jan 2022)

Paschal Donohoe: At the outset, it is important to point out that neither I, nor the Central Bank, can intervene in the provision or pricing of insurance products, which is ultimately a commercial matter for each provider. However, this point notwithstanding, the Government is committed to reforming the Irish insurance environment through delivery of the Action Plan for Insurance Reform. One of the...

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2022)

Paschal Donohoe: Section 284 Taxes Consolidation Act (TCA) 1997 makes provision for a person carrying on a trade, who incurs capital expenditure on the provision of machinery or plant for the purposes of the trade, to claim capital allowances in respect of that expenditure.  Capital allowances allow the wear and tear of plant and machinery be taken into account as a deduction for tax purposes. In...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (19 Jan 2022)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support employment and maintain the link between the employer and employee insofar as is possible. The EWSS has been a key component of the Government’s response to the Covid-19 crisis. It is an economy-wide scheme that operates across all sectors. In money terms, the overall support provided to-date (13th January) by...

Written Answers — Department of Finance: Housing Provision (19 Jan 2022)

Paschal Donohoe: Through working with debtors and receivers, NAMA’s residential delivery programme facilitated the completion of 10,052 units in the years 2018 to 2020. This total includes: 5,283 units directly funded by NAMA; and 4,769 new residential units completed on sites for which NAMA had funded planning permission, enabling works, legal costs or holding costs prior to disposal or refinance....

Written Answers — Department of Finance: Housing Schemes (19 Jan 2022)

Paschal Donohoe: The Help to Buy (HTB) incentive 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 Ireland over the previous four years, subject to limits outlined in the legislation. The legislation governing the HTB scheme is set out in section...

Written Answers — Department of Finance: Departmental Reports (19 Jan 2022)

Paschal Donohoe: I welcome the findings of this important report and note that it has been referred to the National Disability Inclusion Strategy Steering Group chaired by Minister of State Anne Rabbitte T.D. to consider what actions should follow.   I look forward to engaging with my Government colleagues and in particular with Minister of State Rabbitte in the matter.

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2022)

Paschal Donohoe: I am advised by Revenue that the tax agent representing the couple in question filed a tax return (Form 11) for the 2020 tax year on their behalf on 9June 2021. The return included a claim for relief amounting to €10,900 in respect of pension contributions paid by the couple. Revenue subsequently acknowledged to both the couple and the tax agent that the full amount of the relief...

Written Answers — Department of Finance: Legislative Measures (19 Jan 2022)

Paschal Donohoe: I am assuming the Deputy is referring to Parliamentary Question No. 201 (proof No. 203) of 7 December last as it refers to the time limits for investigating a complaint by the Financial Services and Pensions Ombudsman (FSPO) and not Parliamentary Question No. 203. In July 2017, legislative changes were made to the time limits for making complaints to the FSPO’s...

Written Answers — Department of Finance: Tax Code (19 Jan 2022)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply.  Under the EU VAT Directive and Irish VAT legislation the supply of building materials is liable to VAT at the standard rate, which in Ireland is currently 23%.  In general, Member states are not permitted to apply a VAT rate...

Written Answers — Department of Finance: Trade Data (19 Jan 2022)

Paschal Donohoe: I am informed by the Sustainable Energy Authority of Ireland that the level of imports for the fuels concerned is as set out in the table below.  Please note that 2021 figures are provisional. Fuel type Market flow Products Units 2019 2020 Jan-Nov 2021 Oil Products Imported Road Diesel kilolitres...

Written Answers — Department of Finance: Tax Data (19 Jan 2022)

Paschal Donohoe: As part of the Budget each year, data on the average effective tax rates for a range of earnings are published and can be located in the Tax Policy Changes document at the following link -www.gov.ie/en/publication/7e491-taxation-measures/. My Department has prepared Table 1 below which sets out the effective tax rates for a single individual taxpayer (Class A – Full PRSI), for the...

Written Answers — Department of Finance: Insurance Coverage (19 Jan 2022)

Paschal Donohoe: At the outset, it is important to point out that neither I, nor the Central Bank, can intervene in the provision or pricing of insurance products, which is ultimately a commercial matter for each provider. This position is reinforced by EU legislation, specifically the Solvency II Directive. However, this point notwithstanding, the Government is committed to reforming the Irish insurance...