Results 29,121-29,140 of 33,214 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I am conscious of the time.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: That is fine.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I will go beyond 10 p.m., if that is okay, because I will refer to the variety of issues that have been raised. I will respond to Deputy Boyd Barrett first, acknowledge the points made by Deputy Ó Murchú and conclude with those made by Deputy Matthews. I have taken a real interest in this matter prompted by two things. First, Deputy Boyd Barrett raised a number of issues with me,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Okay. He may have briefly acknowledged it-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: You would honestly think that Deputies Matthews, Ó Murchú and Boyd Barrett were talking about different industries and sectors. I am saying all this because my Department and I are very interested in the application of this credit. In all honesty, shortly after, or maybe around the time of, the different committee hearings referred to, my Department met SIPTU and Screen Guilds of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Happy birthday.

Written Answers — Department of Finance: Departmental Schemes (24 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 170 and 172 together. The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on 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...

Written Answers — Department of Finance: Tax Code (24 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 171 and 173 together. For clarity, I did not make any changes in Budget 2023 to existing benefit-in-kind (BIK) provisions that would negatively impact on the application of benefit-in-kind for workers. Rather, I amended two specific measures to further enhance the BIK treatment applicable to employees. Firstly, the relief provided for in section 112B...

Written Answers — Department of Finance: Business Supports (24 Nov 2022)

Paschal Donohoe: Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023 and will be available to tax compliant businesses carrying on a trade or profession the profits of which are chargeable to tax under Case I or...

Written Answers — Department of Finance: Fuel Prices (22 Nov 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). The ETD prescribes minimum tax rates for fuel with which all Member States must comply. There are three national legislative frameworks which provide for the charging of excise duty on different fuel types in the State. Firstly, ETD...

Written Answers — Department of Finance: Official Travel (22 Nov 2022)

Paschal Donohoe: Ireland is represented at the COP27 climate conference in Sharm el-Sheikh by a national delegation led by the Minister for Environment, Climate, and Communications, Mr. Eamon Ryan T.D. and comprised of officials from six Government Departments. Two officials from the Department of Finance attended, and no officials from any of the State bodies under the aegis of my Department travelled....

Written Answers — Department of Finance: Insurance Coverage (22 Nov 2022)

Paschal Donohoe: While neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, I can assure the Deputy that this Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups across the State. The whole-of-Government approach being taken through the Action Plan for Insurance Reform sets...

Written Answers — Department of Finance: Business Supports (22 Nov 2022)

Paschal Donohoe: Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022.  The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023 and will be available to tax compliant businesses carrying on a trade or profession the profits of which are chargeable to tax under Case...

Written Answers — Department of Finance: Tax Code (22 Nov 2022)

Paschal Donohoe: For clarity, I did not make any changes in Budget 2023 to existing benefit-in-kind (BIK) provisions that would negatively impact on the application of benefit-in-kind for workers. Rather, I amended two specific measures to further enhance the BIK treatment applicable to employees. Firstly, the relief provided for in section 112B of the Taxes Consolidation Act 1997 (TCA), which is commonly...

Written Answers — Department of Finance: Agriculture Supports (22 Nov 2022)

Paschal Donohoe: Stock relief is available to any person carrying on the trade of farming, the profits from which are chargeable to tax under Case I of Schedule D. The person may be an individual or a company, carrying on the trade either solely or in partnership. The amount of stock relief is equal to 25% of the amount by which the value of farm trading stock at the end of an accounting period exceeds the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 Nov 2022)

Paschal Donohoe: Pandemic Unemployment Payments (PUP) are classified in legislation as income supports and as such are subject to income tax but are exempt from the Universal Social Charge (USC) and Pay Related Social Insurance (PRSI). This is the case whether the recipient of the PUP was either a former PAYE worker or a person who was previously self-employed.  The PUP was not taxed in the normal...

Written Answers — Department of Finance: State Savings Schemes (22 Nov 2022)

Paschal Donohoe: I note the Deputy's query in relation to the introduction of a scheme in Ireland similar to the UK ISA scheme. In this regard, I would highlight that the National Treasury Management Agency (NTMA), through State Savings products, already offers a wide range of tax free savings products to the general public, including Prize Bonds and fixed rate savings bonds/certificates. ...

Written Answers — Department of Finance: Departmental Priorities (22 Nov 2022)

Paschal Donohoe: I assume the capital gain tax allowance the Deputy is referring to is the annual exemption for individuals in respect of the first €1,270 of chargeable gains in a calendar year that is provided for by Section 601 of TCA 1997.  In Northern Ireland, the UK capital gains tax free allowance applies, which for the tax year 2022-2023 is £12,300, which is deducted from the gain...

Written Answers — Department of Finance: Departmental Priorities (22 Nov 2022)

Paschal Donohoe: As the Deputy will be aware, Finance Act 2000 introduced the gross roll-up taxation regime for investments in domestic funds (in section 58) and for investments in life policies (in section 53). While Finance Act 1990 had introduced anti-avoidance rules that are known as the “offshore funds” regime, Finance Act 2001 (in section 72) amended the offshore funds regime to provide...

Written Answers — Department of Finance: Insurance Industry (22 Nov 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can dictate the pricing or provision of insurance products, as this is a commercial matter assessed on a case-by-case basis. This position is reinforced by the EU legislative framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct insurance companies as to the...