Results 27,101-27,120 of 33,214 for speaker:Paschal Donohoe

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

Paschal Donohoe: This Government is providing record levels of State investment for all forms of housing. Housing for All is the Government’s plan to increase availability and affordability of housing, and to create a sustainable housing system into the future. This year, €4 billion of Exchequer funding, supplemented by Land Development Agency funding and Housing Finance Agency lending, will be...

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

Paschal Donohoe: I propose to take Questions Nos. 10 and 64 together. Tax receipts in the first quarter of the year amounted to €17.2 billion. This was driven by particularly strong growth in income tax, VAT and corporation tax. Total tax revenue was up by over €4 billion, or more than 30 per cent, on the same period last year. Income tax receipts in the quarter were up by €900...

Written Answers — Department of Finance: Insurance Industry (28 Apr 2022)

Paschal Donohoe: At the outset, it is important to note that 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) which expressly prohibits Member States from doing so....

Written Answers — Department of Finance: Insurance Industry (28 Apr 2022)

Paschal Donohoe: I propose to take Questions Nos. 14, 23 and 52 together. Insurance reform is a key priority for this Government as evidenced by the fact that implementation of theAction Plan on Insurance Reformis overseen by the Cabinet Sub-Group on insurance reform. The second Implementation Report, which was published on 1 March 2022, shows that 80 per cent of the actions contained therein are now been...

Written Answers — Department of Finance: Vacant Properties (28 Apr 2022)

Paschal Donohoe: I propose to take Questions Nos. 17, 19 and 20 together. The Government’s strategy ‘Housing For All’ includes an action for my Department to collect data on vacancy with a view to introducing a Vacant Property Tax. The timeframe for delivery on this commitment is the second quarter of 2022. The Finance (Local Property Tax) (Amendment) Act 2021 enabled Revenue to collect...

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

Paschal Donohoe: I am happy to advise the Deputy that there is already a tax incentive for new start up companies - Section 486C of the Taxes Consolidation Act 1997 provides relief from corporation tax for start-up companies in their first years of trading. I extended this relief in last year's Finance Act for a period of five years, to end-2026. In view of the challenges facing small businesses as a...

Written Answers — Department of Finance: Fiscal Policy (28 Apr 2022)

Paschal Donohoe: The Stability Programme Update (SPU), published by my Department earlier this month, projects an exchequer deficit of almost €1.1 billion for this year. On a general government basis, a deficit of €2.0 billion is in prospect for this year, the equivalent of 0.8 per cent of modified national income. Since Budget 2022was presented in October last year, Government has intervened...

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

Paschal Donohoe: I propose to take Questions Nos. 25 and 40 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 Exemptions (28 Apr 2022)

Paschal Donohoe: I am advised by the Minister for Further and Higher Education, Research, Innovation and Science that the position in relation to apprentice 'off-the-job' training payments and allowances is as follows: - Craft apprentices alternate between ‘on-the-job’ training with an employer and ‘off-the-job training’ in an education centre. - For apprentices on...

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

Paschal Donohoe: The Debt Warehousing Scheme was introduced to provide a vital liquidity support to businesses suffering a downturn due to the Covid-19 pandemic. Under the scheme, businesses can temporarily ‘park’ certain tax debts on an interest free basis until the end of this year (or until 30 April 2023 for businesses most impacted by the most recent public health restrictions and who are...

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

Paschal Donohoe: The total of the VAT Receipts for January, February and March 2022 is €5,851 million. Tax Trend by Month €000 - Monthly Actual Out turn 2022 - January February March Total Valued Added Tax 3,107,722 260,849 2,482,287 5,850,858

Written Answers — Department of Finance: Insurance Coverage (28 Apr 2022)

Paschal Donohoe: At the outset, it is important to recognise that uninsured driving is a criminal offence and a road safety issue, and as such certain efforts to tackle this issue are relevant for my colleagues the Ministers for Justice and Equality, and Transport, respectively. I am cognisant of the fact that the cost of uninsured drivers is ultimately borne by innocent policyholders. The Motor Insurance...

Written Answers — Department of Finance: Cost of Living Issues (28 Apr 2022)

Paschal Donohoe: The Government has intervened on four occasions to address increases in the cost of living, at a combined cost of approximately €2.1 billion. Firstly, Budget 2022contained an income tax package amounting to €520 million. On the expenditure side, a social welfare package worth €558 million was introduced, including, among other measures, a general €5 rate increase...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (28 Apr 2022)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide support with the objective of supporting employment and maintaining the link between the employer and the employee. The EWSS is operated on a self-assessment basis with the onus on applicants to satisfy themselves that they fully meet the eligibility criteria for the scheme as set down in the legislation and to self-declare to...

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

Paschal Donohoe: I propose to take Questions Nos. 36 and 42 together. At the outset, the Deputy should note that 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. In addition, officials in my Department and their colleagues in Brussels are in...

Written Answers — Department of Finance: Housing Schemes (28 Apr 2022)

Paschal Donohoe: In my Budget 2022 address, I announced that a formal review of the Help-to-Buy scheme would take place this year. The exercise is intended to be fundamental in nature and to help inform decisions for Budget 2023 and Finance Bill 2022. The terms of reference for the review are as follows: "To examine all aspects of the Help-to-Buy scheme (s.477C of the Taxes Consolidation Act 1997) including...

Written Answers — Department of Finance: Cost of Living Issues (28 Apr 2022)

Paschal Donohoe: The Government has intervened on four occasions to address increases in the cost of living, at a combined cost of approximately €2.1 billion. Firstly, Budget 2022contained an income tax package amounting to €520 million. On the expenditure side, a social welfare package worth €558 million was introduced, including, among other measures, a general €5 rate increase...

Written Answers — Department of Finance: Inflation Rate (28 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 euro area inflation reaching an all-time high of 7.4 per cent in March. The key driver of inflation over the past six months or so has been increases in wholesale energy prices, driven by the rapid rebound in global demand...

Written Answers — Department of Finance: Banking Sector (28 Apr 2022)

Paschal Donohoe: It is a key priority for the Minister for Finance and the Central Bank of Ireland that customers receive the appropriate support in rearranging their affairs as certain banks exit the market. Officials met with the Central Bank on 19 April 2022 to discuss the withdrawal of Ulster Bank and KBC from the market and in particular the support required for consumers in moving their accounts to...

Written Answers — Department of Finance: Fiscal Policy (28 Apr 2022)

Paschal Donohoe: As the Deputy will be aware, the European Commission published a Communication in October 2021 which relaunched the review of the economic governance framework. I have strongly welcomed the re-opening of the Commission’s review. Discussions on the future of the European fiscal framework have been ongoing at the relevant EU sub-committees since the relaunch of the review. These...