Results 27,081-27,100 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (26 Apr 2022)

Paschal Donohoe: As I previously stated, I wrote to Commissioner Gentiloni in early March regarding the need for Member States to have greater flexibility when responding to the energy crisis, particularly in relation to the VAT and Excise Directives. This was in addition, to the ongoing and frequent contact between officials in my Department and their colleagues in Brussels and the European...

Written Answers — Department of Finance: Tax Yield (26 Apr 2022)

Paschal Donohoe: As the Deputy is aware, the most recent projection of additional carbon tax revenues provided by my Department for the period 2021 to 2030 amounted to €9.2 billion, based on the Government’s commitment to increasing the amount that is charged per tonne of CO2 emissions from fuels to €100 by 2030. This is a key pillar underpinning the Government’s Climate Action...

Written Answers — Department of Finance: Tax Code (26 Apr 2022)

Paschal Donohoe: Officials in my Department are currently reviewing the options now available to Ireland in setting VAT rates. This will include consideration of the new options available to Member States  as a result of the recently updated EU VAT rules when setting VAT rates as well as the new limitations introduced on how reduced rates may be applied. Decisions about tax changes are generally...

Written Answers — Department of Finance: Compulsory Purchase Orders (26 Apr 2022)

Paschal Donohoe: The acquisition of a property by way of compulsory purchase order (CPO) is the disposal of an asset for the purposes of Capital Gains Tax (CGT).  Any chargeable gain arising on such a disposal is subject to CGT at a rate of 33%. The first €1,270 of total chargeable gains in respect of an individual in any year of assessment is exempt from CGT. It is the amount of the...

Written Answers — Department of Finance: Defective Building Materials (26 Apr 2022)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government contains several commitments to support the ordinary home-owners who have been affected by these issues and it is the Government’s firm intention to find appropriate solutions for those who are affected.  My colleague, the Minister for Housing, Local Government and Heritage, has established an Independent...

Written Answers — Department of Finance: Apprenticeship Programmes (26 Apr 2022)

Paschal Donohoe: Off-the-job training payments made to craft apprentices by the Education Training Boards (ETBs) are chargeable to tax under Schedule E (taxed through the PAYE system) by virtue of Section 19 of the Taxes Consolidation Act (TCA) 1997, on the basis that the ETBs are paying a stipend to the apprentices out of public revenues of the State.  I am advised by Revenue that in 2021 payroll...

Written Answers — Department of Finance: Primary Medical Certificates (26 Apr 2022)

Paschal Donohoe: 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. I gave a commitment that a comprehensive review of the scheme, to include a broader review of mobility supports for persons with disabilities, would be undertaken.  ...

Written Answers — Department of Finance: Research and Development (26 Apr 2022)

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 accounting...

Written Answers — Department of Finance: Departmental Data (26 Apr 2022)

Paschal Donohoe: My Department published updated macroeconomic projections as part of the draft Stability Programme Update (SPU) in mid-April. Against the backdrop of the war in Ukraine and the associated economic and geopolitical instability, energy and other commodity prices have soared. This in turn, has fed through to rising inflationary pressure which has dampened domestic economic activity.  ...

Written Answers — Department of Finance: Tax Code (26 Apr 2022)

Paschal Donohoe: Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). ETD provisions on mineral oils are transposed into national law in Finance Act 1999 which provides for the application of excise duty, in the form of Mineral Oil Tax (MOT), to specified mineral oils, such as petrol and diesel, that are used...

Written Answers — Department of Finance: Data Protection (26 Apr 2022)

Paschal Donohoe: I can confirm that CCTV used by my Department is not Hikvision or Dahua, and that facial recognition is not used in any of the buildings in which my Department is housed. The Central Bank of Ireland is a body under the aegis of my Department. It has advised that it has implemented appropriate and relevant physical security measures to ensure the ongoing protection of the organisation....

Written Answers — Department of Finance: Departmental Schemes (26 Apr 2022)

Paschal Donohoe: Help to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers 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 Section 477C of the Taxes Consolidation Act 1997. For a property to qualify for HTB, it must be...

Written Answers — Department of Finance: Tax Data (27 Apr 2022)

Paschal Donohoe: Revenue publishes detailed statistics on the Research & Development (R&D) tax credit on an annual basis. These publications are available at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/tax-expenditures/r-and-d-tax-credits.aspx. I am advised by Revenue that Corporation Tax returns for the tax year 2020 were due to be filed during 2021. The data from these...

Written Answers — Department of Finance: Tax Reliefs (27 Apr 2022)

Paschal Donohoe: Section 473A of the Taxes Consolidation Act 1997 provides for income tax relief in respect of qualifying tuition fees paid by an individual for a third level education course, including a postgraduate course. The relief is granted at the standard rate of income tax (currently 20%), where an individual pays tuition fees for an approved course, whether on his or her own behalf or on behalf of...

Written Answers — Department of Finance: Tax Code (27 Apr 2022)

Paschal Donohoe: The term “Exchange Traded Fund” or “ETF” is a general investment industry term that refers to a wide range of investments. ETF investments can take many different legal and regulatory forms even where they are established within the same jurisdiction. An ETF is an investment fund that is traded on a regulated stock exchange. A typical ETF can be compared to a...

Written Answers — Department of Finance: Inflation Rate (27 Apr 2022)

Paschal Donohoe: Inflation picked up sharply over the course of the last year and in March stood at 6.9 per cent. Almost every advanced country in the world is in the same position, with inflation rates of 8, 7 and 7.4 per cent recorded in the US, UK and euro area respectively in March. The rise in wholesale energy prices is the key contributor and reflects the rapid rebound in global demand and, more...

Written Answers — Department of Finance: Tax Reliefs (27 Apr 2022)

Paschal Donohoe: I propose to take Questions Nos. 77 and 78 together. The Disabled Drivers & Disabled Passengers Scheme (DDS) 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. The Scheme is open to severely and permanently disabled persons who also meet one of six specified medical criteria, as a driver...

Written Answers — Department of Finance: Rental Sector (27 Apr 2022)

Paschal Donohoe: As outlined in the 'Housing for All' strategy, the Government’s primary response to mitigating residential price inflation is to increase supply. The strategy outlines the plan to increase affordability and housing supply by committed to, amongst other things, an average of 2,000 new ‘cost rental’ homes every year, with targets of rents being at least 25 per cent...

Written Answers — Department of Finance: Tax Code (28 Apr 2022)

Paschal Donohoe: I propose to take Questions Nos. 6, 26 and 61 together. The Government is very aware of the impact of rising fuel prices on households and businesses. These trends are driven primarily by global factors. The key drivers of this increase are increases in wholesale energy prices as a result of the rapid rebound in global demand, global supply chain disruptions and the imbalance between demand...

Written Answers — Department of Finance: Tax Code (28 Apr 2022)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States...