Results 31,801-31,820 of 33,289 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Trade Relations (13 Feb 2025)

Paschal Donohoe: For the Deputy to suggest, given the difficulties we clearly face, on which I answered questions earlier regarding the implementation of a current global tax deal, that jobs and our competitiveness could be secured by going beyond that and taxing more by bringing in new forms of tax, shows no understanding of what it takes to create a job and keep it in Ireland. The path the Deputy is...

Ceisteanna Eile - Other Questions: Departmental Schemes (13 Feb 2025)

Paschal Donohoe: I congratulate Deputy O'Sullivan on his election to Dáil Éireann and I thank him for his first question to me on what I know is a very important matter. My Department and I share concerns that the scheme is no longer fit for purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional...

Ceisteanna Eile - Other Questions: Departmental Schemes (13 Feb 2025)

Paschal Donohoe: I do not have a timeline regarding the publication of that report - if indeed it will be published. Of course, any changes we would make would be subject to debate in the Chamber and because they may require legislative change, they will be discussed by the Committee on Finance, Public Expenditure and Reform, and Taoiseach. There will, therefore, be ample opportunity for the Deputy to put...

Ceisteanna Eile - Other Questions: Ireland Strategic Investment Fund (13 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 9 and 14 together. As Deputies are aware, the UN maintains a database of businesses involved in certain specified activities relating to settlements in the occupied Palestinian territories, OPT. At the end of 2023, direct investments by the Ireland Strategic Investment Fund, ISIF, in companies on the UN database was approximately €4.2 million in 11...

Ceisteanna Eile - Other Questions: Ireland Strategic Investment Fund (13 Feb 2025)

Paschal Donohoe: I disagree strongly with the Deputy's overall analysis regarding the Government's stance on the people of Palestine. From the decision we made regarding the recognition of the Palestinian state, one supported by the entire Dáil, to the ongoing funding we have provided through multilateral and international organisations to support those people, who have seen such harm and loss of life...

Ceisteanna Eile - Other Questions: Ireland Strategic Investment Fund (13 Feb 2025)

Paschal Donohoe: It is important to acknowledge that the overall size of the Israeli economy is €500 billion. That is how big that economy is. ISIF is enormous, and many different investments are taking place across the world. We have already seen ISIF divest from companies within Israel. As I said in response to the House earlier, it is not clear to me, given the scale of the investment that ISIF...

Ceisteanna Eile - Other Questions: Ireland Strategic Investment Fund (13 Feb 2025)

Paschal Donohoe: -----in funding the kinds of activities and the approach that this Government has been clear in condemning. I have said to the House that I am aware of all of the legal debate that has taken place about the Sinn Féin Bill and the issues that have been raised. I am, of course, going to consider the issue further.

Ceisteanna Eile - Other Questions: Tax Code (13 Feb 2025)

Paschal Donohoe: The Deputy should note at the outset that capital acquisitions tax, CAT, is a beneficiary-orientated tax that is payable by the recipient of a gift or inheritance as opposed to the person providing that gift or inheritance. The relationship between the person giving a gift or inheritance, the disponer, and the person who receives it, the beneficiary, determines the maximum amount, known as...

Ceisteanna Eile - Other Questions: Tax Code (13 Feb 2025)

Paschal Donohoe: I thank the Deputy. I am well aware of the kinds of issues he has raised. I am sure his constituents raise them with him. Times of inheritance are obviously difficult moments for families. Tax bills at times of sadness can be considerable. As I said in my earlier answer, any change to this form of taxation brings a particular, and perhaps significant, cost. That must be considered as...

Ceisteanna Eile - Other Questions: Tax Yield (13 Feb 2025)

Paschal Donohoe: The Deputy might clarify when he responds the source of the figure of €8 billion, please, so that we are clear on the particular point he is making. I am advised by Revenue that in 2022 it commenced a compliance-based review of the Irish real estate fund, IREF, sector with one of its aims being to identify the reasons for the reduction in the amount of IREF withholding tax paid in...

Ceisteanna Eile - Other Questions: Tax Yield (13 Feb 2025)

Paschal Donohoe: The review was a compliance review undertaken by Revenue and therefore it would not publish a document in relation to that, respecting taxpayer confidentiality. However, it has indicated, as I shared with the Deputy, the tax payments that were made by that sector to the Exchequer over recent years. For 2023, that figure stands at €31.8 million. In 2017, that figure was €8.3...

Ceisteanna Eile - Other Questions: Tax Yield (13 Feb 2025)

Paschal Donohoe: Tá brón orm. I was only reading out a base figure in the interests of time. Let me be non-selective and read out all the figures for each year since 2017. Those figures are: €8.3 million, €28.2 million, €72 million, €73.8 million, €43.1 million, €37.6 million and €31.8 million, respectively. In recent years-----

Ceisteanna Eile - Other Questions: Tax Yield (13 Feb 2025)

Paschal Donohoe: -----we have seen it at that figure. This is the reason Revenue instigated the compliance intervention that it did. I have made changes. I did so by means of tax legislation in order to ensure that issues that were being raised with me by Revenue were acted upon, and that happened. As soon as further information becomes available for the sector, it will of course be shared with the Deputy...

Written Answers — Department of Finance: Economic Sanctions (12 Feb 2025)

Paschal Donohoe: As the Deputy is aware, the UN maintains a database of business enterprises involved in certain specified activities relating to settlements in the Occupied Palestinian Territories (OPT). At the end of 2023, ISIF’s direct investments in companies on the UN database totalled approximately €4.2 million in 11 companies. ISIF’s indirect investments included 8 companies...

Written Answers — Department of Finance: Tax Yield (12 Feb 2025)

Paschal Donohoe: While legislation is not currently in place for Carbon Taxes to be ring-fenced, the proceeds from Carbon Taxes are allocated for measures related to the Just Transition and climate action. This includes part-funding the roll out of a national retrofitting programme, targeted welfare intervention measures and funding for greener farming practices. Budget 2025 provided for a €951...

Written Answers — Department of Finance: Economic Policy (12 Feb 2025)

Paschal Donohoe: The Infrastructure, Climate and Nature Fund is currently invested by the NTMA under an interim Investment Strategy, which is published on the NTMA website (www.ntma.ie). The NTMA is currently developing a long-term strategy for the Infrastructure, Climate and Nature Fund, which will be subject to consultation with the Minister for Finance and the Minister for Public Expenditure,...

Written Answers — Department of Finance: Climate Action Plan (12 Feb 2025)

Paschal Donohoe: The information requested by the Deputy in relation to the payments made by the Department of Finance to the Climate Action Fund as required under Circular 01/2020 (Procedures for Offsetting the Emissions Associated with Official Air Travel) for 2020, 2021, 2022 and 2023 is provided in tabular form. The annual payment to the Climate Action fund is due on February 28th of the following...

Written Answers — Department of Finance: Tax Reliefs (12 Feb 2025)

Paschal Donohoe: There is currently income tax relief available for oxygen tanks and oxygen under Section 469 of the Taxes Consolidation Act (TCA) 1997, subject to certain conditions being met, which have been set out below. Section 469 TCA 1997 provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only “health expenses”...

Written Answers — Department of Finance: International Agreements (12 Feb 2025)

Paschal Donohoe: Ireland was among almost 140 jurisdictions that signed up to a political agreement in October 2021, through the OECD/G20 Inclusive Framework on BEPS, on a new tax framework to address the tax challenges arising from the digitalisation of the economy. Pillar Two of the agreement provided for the adoption of a new global minimum effective tax rate of 15% applying to multinationals with...

Written Answers — Department of Finance: Irish Stock Exchange (12 Feb 2025)

Paschal Donohoe: Ireland’s equity markets are diverse comprising of both public and private equity market participants and a wider ecosystem which includes a large number of professional services companies. The growing importance of large stock market indices linked to the rise in passive investment strategies has been a pull factor in listings activity gravitating towards the largest stock...