Results 29,441-29,460 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have advised me, as Minister for Finance, that Goodbody advised the Special Liquidators of Irish Bank Resolution Corporation Limited (In Special Liquidation) of the bids received on the NAMA subordinated bonds following the sales process on 23 September 2014. The total realisation amount was communicated to the Department of Finance shortly thereafter.

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: The EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of VAT. The EU VAT Directive also allows for historic VAT treatment to be maintained under certain conditions on certain goods and...

Written Answers — Department of Finance: Insurance Coverage (13 Dec 2022)

Paschal Donohoe: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many community groups across the country around the cost and availability of insurance cover. Accordingly, Government has prioritised insurance reform through the Action Plan for Insurance Reform. As the Deputy may be aware, the third Action Plan Implementation Report was published last month, showing that 90...

Written Answers — Department of Finance: Tax Exemptions (13 Dec 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 (currently 23% in Ireland), unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in...

Written Answers — Department of Finance: Tax Reliefs (13 Dec 2022)

Paschal Donohoe: I propose to take Questions Nos. 251 and 252 together. In relation to donations, I assume that the Deputy has in mind a “relevant donation” in the context of the Charitable Donations Scheme, provided for in section 848A and Schedule 26A Taxes Consolidation Act 1997 (TCA). I am advised by Revenue that a relevant donation is a donation with a minimum value of €250...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: I am informed by Revenue that in cases such as these (that is, where neither spouse or civil partner is resident in the State, but one party is in receipt of employment income which is chargeable to tax in the State) the statutory position is that joint assessment is not available during the tax year. The individual is correctly assessed to tax under separate treatment. However, there may be...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: As the Deputy will be aware, the 9% rate for the tourism and hospitality sectors was reintroduced in Budget 2021 from 1 November 2020 to 31 December 2021 at an estimated cost of €401m. This measure was initially extended in Budget 2022 to 31 August 2022 at a further estimated cost of €251m. It was then extended again for another six months until 28 February 2023 at an...

Written Answers — Department of Finance: Financial Services (13 Dec 2022)

Paschal Donohoe: The Office of the Financial Services and Pensions Ombudsman (FSPO) has advised me that it received 14,751 complaints in the three years up to the end of November 2022. 356 of those complaints were deemed ineligible for being outside the time limits set out in the Financial Services and Pensions Ombudsman Act 2017 (the Act). The table below provides a breakdown of complaints in each period. ...

Written Answers — Department of Finance: Company Law (13 Dec 2022)

Paschal Donohoe: The ruling of the Court of Justice of the European Union is that a provision of the EU anti-money-laundering directive, under which information on the beneficial ownership of corporate and other legal entities, held in central registers, must be provided to the general public, is invalid. The court has found that the provision interferes with the rights recognised in Articles 7 and 8 of the...

Written Answers — Department of Finance: EU Data (14 Dec 2022)

Paschal Donohoe: A search of official records, in response to the Deputy’s question, indicates that there has been no cost related to my Department since the start of the 33rdDáil term to date for fines relating to cases for infringements of European Union law or for failure to transpose EU law. Similar information from other Departments needs to be sourced directly. For background, the European...

Written Answers — Department of Finance: Tax Code (14 Dec 2022)

Paschal Donohoe: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes I brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being legislated for as far back as 2008 (but never...

Written Answers — Department of Finance: Enterprise Support Services (14 Dec 2022)

Paschal Donohoe: I propose to take Questions Nos. 54 and 59 together. Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The TBESS 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 Case II of Schedule D where they meet the eligibility criteria and to certain sporting...

Written Answers — Department of Finance: Tax Code (14 Dec 2022)

Paschal Donohoe: I am advised by Revenue that the tax treatment of maintenance payments varies depending on: 1. whether the maintenance arrangement in place is legally enforceable or voluntary, 2. whether the maintenance payment is made for the benefit of the other party to the relationship or a child, and 3. the basis of assessment applicable to the couple. Where the payment is legally enforceable and is...

Written Answers — Department of Finance: Tax Credits (14 Dec 2022)

Paschal Donohoe: By way of background, the 2009 Commission on Taxation reviewed the One-Parent Family Tax Credit. It acknowledged that the credit played a role in supporting and incentivising the labour market participation of single and widowed parents but recommended that the credit should be allocated to the principal carer of the child only. A feature of the One-Parent Family Tax Credit was that it could...

Written Answers — Department of Finance: Banking Sector (14 Dec 2022)

Paschal Donohoe: There are certain legal and regulatory requirements governing the provision of mortgage credit to consumers. For example, the Central Bank’s Consumer Protection Code 2012 (the Code) imposes ‘Knowing the Consumer and Suitability’ requirements on lenders. Under these requirements, lenders are required to assess affordability of credit and the suitability of a product or...

Written Answers — Department of Finance: Social Media (14 Dec 2022)

Paschal Donohoe: I wish to advise the Deputy that Departmental spend on social media in 2021 and to date in 2022 is outlined in the table below. Division 2022 2021 *Commission on Taxation Nil *€24,419.15 **FSD Nil Nil ***Banking/FSPO Nil Nil ****Fiscal ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I believe that is exceedingly unlikely-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: -----that a scenario such as the one that the Deputy is referring to could happen, but I understand the matter that he is referring to. I give notice to the committee that we will consider the drafting of this section to see if it needs to be made more explicit.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I do not believe that it would be publicly acknowledged.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Yes, because there would not have been an admission of wrongdoing.