Results 27,261-27,280 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Exemptions (17 May 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 taken in...

Written Answers — Department of Finance: Revenue Commissioners (17 May 2022)

Paschal Donohoe: I am advised by Revenue that it has two cutters (patrol vessels) in service, at the moment. One of those vessels is approaching the end of its service life and I am informed by Revenue that it intends to purchase a replacement vessel. It is anticipated that the relevant procurement competition will include an option for a second vessel which could be a future replacement for the second vessel...

Written Answers — Department of Finance: Tax Reliefs (17 May 2022)

Paschal Donohoe: As indicated in the Budget speech of 12 October, it is planned to bring forward legislative provisions in Finance Bill 2022 to introduce a 50% excise relief to microproducers of cider. However, as the new legislation, Article 13a, is structured differently to what is already permitted for small beer producers (under Article 4), the existing relief in Irish legislation for beer cannot be...

Written Answers — Department of Finance: Housing Schemes (17 May 2022)

Paschal Donohoe: In my Budget 2022 address, I announced that a formal review of the Help-to-Buy (HTB) scheme would take place this year. 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 its design, its operation, the extent to which it has met its key policy aims of assisting first-time buyers of new...

Written Answers — Department of Finance: Financial Sanctions (17 May 2022)

Paschal Donohoe: I would like to thank Deputy O’Dowd for raising this question. My officials have consulted with the Central Bank of Ireland on the particulars of this matter. Financial sanctions are restrictive measures imposed on persons, entities and bodies in an effort to curtail their activities and to exert pressure and influence on them. Restrictive measures include, but are not limited to,...

Written Answers — Department of Finance: Tax Exemptions (17 May 2022)

Paschal Donohoe: I am advised by Revenue that the application of VAT to the supply of goods and services is subject to EU VAT law, with which Irish VAT law must comply. An entity is required to register for VAT where they make taxable supplies which exceed certain thresholds. Once VAT-registered, it is generally entitled to claim a refund of the VAT it has incurred on its various inputs and business cost. In...

Written Answers — Department of Finance: Tax Collection (17 May 2022)

Paschal Donohoe: In the absence of specific details, Revenue cannot advise me on the circumstances of the individual case referenced. If the Deputy provides specific details in relation to the property Revenue will examine what happened in the case. Revenue administers Local Property Tax (LPT) in accordance with the provisions set out in the Finance (Local Property Tax) Act 2012 (as amended). Section 11...

Written Answers — Department of Finance: Banking Sector (17 May 2022)

Paschal Donohoe: I wish to highlight, as Minister for Finance, I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. Decisions in this regard, including this potential transaction, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The bank's...

Written Answers — Department of Finance: Banking Sector (17 May 2022)

Paschal Donohoe: As the Deputy is aware, AIB recently announced that it has entered into exclusive discussions with NatWest Group for the acquisition of circa €6 billion Ulster Bank performing tracker (and linked) mortgages. I welcomed that announcement as, if it leads to a successful outcome, it would provide a significant number of Ulster Bank customers with certainty on the destination of their...

Written Answers — Department of Finance: Housing Schemes (18 May 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 Code (18 May 2022)

Paschal Donohoe: In Finance Act 2019, I legislated for a CO2-based BIK regime for company cars from 1/1/2023. From that date the amount taxable as BIK remains determined by the car’s original market value (OMV) and the annual business kilometres driven, while new CO2emissions-based bands will determine whether a standard, discounted, or surcharged rate is taxable. The number of mileage bands is reduced...

Written Answers — Department of Finance: Revenue Commissioners (18 May 2022)

Paschal Donohoe: I am advised by Revenue that in the period from January 2015 to date, there were 44 Revenue assignments to Assistant Principal posts in County Limerick. This included 15 from Public Appointments Service or Revenue open competitions; 2 from Interdepartmental competition; 16 from Revenue internal promotion competitions; 10 on transfer from other geographic locations; and 1 on resumption...

Written Answers — Department of Finance: Job Creation (19 May 2022)

Paschal Donohoe: The COVID-19 pandemic had a severe impact on Ireland’s labour market, with the number of persons in receipt of some form of state income assistance peaking at around 1.2 million in May 2020. More recently, the Government’s labour market policy response, which effectively maintained the employer-employee link to prevent labour market scarring, has paved the way for a rapid...

Written Answers — Department of Finance: Primary Medical Certificates (19 May 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. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief,...

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

Paschal Donohoe: As the Deputy will be aware, on 19 January 2022 the Government announced a COVID-19 recognition payment for eligible frontline healthcare workers to recognise their unique role during the pandemic. The resulting “Pandemic Special Recognition Payment” of up to a maximum of €1,000 per individual is to be made to specified categories of frontline healthcare workers. The...

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

Paschal Donohoe: Section 997A of the Taxes Consolidation Act 1997 (TCA) is a long-standing anti-avoidance measure introduced in 2005. It applies to directors or employees who have a “material interest” in their employer company. This section denies such directors or employees a credit for tax deducted from their remuneration when filing their income tax return, until such time as the tax has...

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

Paschal Donohoe: Where a couple is cohabiting, rather than married or in a civil partnership, they are treated as separate and unconnected individuals for the purposes of income tax. Each partner is a separate entity for tax purposes, therefore, cohabiting couples cannot file joint assessment tax returns or share their tax credits and tax bands in the same manner as married couples. The basis for the...

Written Answers — Department of Finance: Departmental Properties (19 May 2022)

Paschal Donohoe: I wish to advise the Deputy that my Department has had no annual costs associated with the cleaning or sanitising of roofs of the Department's buildings.

Written Answers — Department of Finance: Tax Collection (19 May 2022)

Paschal Donohoe: I propose to take Questions Nos. 223 and 224 together. For the Local Property Tax (LPT) valuation period 2022-2025, residential property owners were asked to indicate in their LPT returns the occupancy status of their properties on 1 November 2021 and, where vacant, the duration of and reason for the vacancy. It is important to note that LPT applies in respect of any building which is in...

Finance (Covid-19 and Miscellaneous Provisions) Bill 2022: From the Seanad (25 May 2022)

Paschal Donohoe: The amendments refer to the Government decision with regard to the 9% VAT rate. The House will be well aware of the challenge that sector has faced during a prolonged period of the implementation of public health measures, due to which restaurants and hotels had to be closed for so long. I am also conscious that we are now in a position where, at the end of this month, the employment wage...