Results 31,821-31,840 of 33,289 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Assets (12 Feb 2025)

Paschal Donohoe: In answering the Deputy's question, I should note that a recommendation to pay dividends is the sole responsibility of the board and management of the banks. I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. AIB and Bank of Ireland resumed paying dividends in 2017 and 2018 respectively, for the...

Written Answers — Department of Finance: Departmental Contracts (12 Feb 2025)

Paschal Donohoe: Following a tender competition ran by the Department of Finance in January 2023, Rothschild & Co. were selected as the Department’s independent financial advisor in March 2023 on a 24-month contract with the option of a 12-month renewal. The role of Rothschild & Co is as follows:To act as independent financial advisor in relation to the State’s remaining banking...

Written Answers — Department of Finance: State Assets (12 Feb 2025)

Paschal Donohoe: As you may be aware, on 28th January 2025, I announced the successful completion of the disposal of a further 5% of the State’s shareholding in AIB by way of an accelerated bookbuild. Key points of the share sale:The State’s shareholding in AIB reduced by 5% from c. 17.5% to c. 12.5% following this transaction.The Placing price was €5.60 per share representing a 2.27%...

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

Paschal Donohoe: I am advised by Revenue that its Compliance Intervention Framework, which is in place since May 2022, provides for a consistent, graduated response to compliance risks and taxpayer behaviour. This response ranges from extensive opportunities for taxpayers to self-review and correct any aspect of their tax compliance (Revenue’s preferred option) up to investigation with a view to...

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

Paschal Donohoe: As the Deputy will be aware the Department of Finance published an independent economic analysis into the possible effects of the Irish tax system on developing economies in 2015. The analysis, completed by the IBFD on behalf of the Department, was entitled ''Spillover Analysis Possible Effects of the Irish Tax System on Developing Economies' and included a baseline analysis of Ireland's tax...

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

Paschal Donohoe: The concept of the “Tax Gap” refers to attempts to measure the difference between actual tax collection and the theoretical amount of tax that might be collected in respect of any given taxhead if the headline rates of tax were applied without exceptions or reliefs and all taxpayers returned and paid tax on all relevant taxable activity. The concept may be broken down into...

Written Answers — Department of Finance: Departmental Programmes (12 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the overall objective of the compliance assurance programme is to validate Revenue’s risk analysis and intervention targeting systems by examining a small number of cases not otherwise selected. Revenue has operated such assurance programme for many years. In line with public health restrictions relating to Covid-19, Revenue suspended onsite compliance...

Written Answers — Department of Finance: Departmental Data (12 Feb 2025)

Paschal Donohoe: The Central Bank has informed me of the following information. While the Central Bank of Ireland (CBI) is the registrar for Irish Government bonds, the way they are settled and registered does not allow for the identification of individual holders. However, the CBI publishes some information on holders of Irish Government bonds, disaggregated between resident and non-resident holders. At...

Written Answers — Department of Finance: Departmental Data (12 Feb 2025)

Paschal Donohoe: The Central Bank has informed me of the following information in relation to Irish Government bonds held by the Bank since 2016. The Central Bank has gradually built up a portfolio of Irish government bonds for monetary policy purposes under PSPP and PEPP. These programmes were established by decision of the ECB’s Governing Council. PSPP began in 2015 and by end-2016, the Central...

Written Answers — Department of Finance: Sport and Recreational Development (13 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 15 and 40 together. As the Deputy will be aware, the Programme for Government, Securing Ireland’s Future, includes a commitment to “Consider measures, in conjunction with the Department of Finance, to encourage gym membership and active participation in sport and exercise.” In line with best practice, proposals for the introduction of...

Written Answers — Department of Finance: Regulatory Bodies (13 Feb 2025)

Paschal Donohoe: The Central Bank has statutory responsibility for the regulation of mortgage lending by banks and other regulated entities. This is an important part of its independent mandate to preserve and protect financial stability. In line with this mandate, lenders have to meet regulatory requirements when providing mortgage credit to consumers. These regulatory requirements include the Central...

Written Answers — Department of Finance: Banking Sector (13 Feb 2025)

Paschal Donohoe: As you may be aware, on 28th January 2025, I announced the successful completion of the disposal of a further 5% of the State’s shareholding in AIB by way of an accelerated bookbuild. These are the key points relating to the recent share sale: The State’s shareholding in AIB has reduced by 5% from c. 17.5% to c. 12.5% following this transaction.The Placing price was...

Written Answers — Department of Finance: Agriculture Supports (13 Feb 2025)

Paschal Donohoe: There are a substantial range of tax measures in place which support farm succession. These include Capital Acquisitions Tax (CAT) agricultural relief, which is available on certain gifts and inheritances of agricultural property. The primary policy rationale for agricultural relief is to promote the intergenerational transfer of family farms and ensure they continue to be actively...

Written Answers — Department of Finance: Revenue Commissioners (13 Feb 2025)

Paschal Donohoe: The Deputy should note at the outset that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. Under EU law, generally only businesses that are registered for VAT and charge VAT on their supplies of goods and services are entitled to reclaim the VAT incurred on their business costs. In addition, the...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: We have noted the review process commenced in the US, and as ever we will engage constructively with the administration and with our partners in the EU and OECD. All taxes are considered annually as part of the Budgetary process and the Programme for Government 2025, Securing Ireland’s Future, commits the Government to maintaining a broad tax base to guard against the need for...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: The Deputy should note that I and the Government are conscious of the implications of fuel costs for all sectors of society. While taxation does affect the final retail price of fuel, a number of factors also contribute to the final cost including energy market dynamics, wholesale pricing, individual retail pricing policy, transport costs, and exchange rate fluctuations. The best way...

Written Answers — Department of Finance: Film Industry (13 Feb 2025)

Paschal Donohoe: In relation to employment rights of film workers, the Deputy will be aware that changes were made to the film tax credit to reinforce the requirement to adhere to employment rights legislation. As part of the cultural certification process, an applicant company is required to submit an undertaking of compliance with all relevant employment legislation in relation to the film being certified....

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: The term “Exchange Traded Fund” or “ETF” is a general investment industry term that refers to a wide range of investments. They are investment fund products that are traded on a regulated stock exchange, with a typical ETF comparable to a tracker fund in that it will seek to replicate a particular index. ETF investments can take many different legal and regulatory...

Written Answers — Department of Finance: Climate Change Policy (13 Feb 2025)

Paschal Donohoe: As the Deputy will know, International Climate Finance plays a critical role in addressing the multifaceted challenges of the climate crisis, representing a crucial instrument in global adaptation and mitigation efforts. Consequently, it remains a key priority for this Government, which intends to follow on from the previous Government’s substantial progress in scaling up its...

Written Answers — Department of Finance: Housing Policy (13 Feb 2025)

Paschal Donohoe: A sustainable funding landscape for housing development requires diverse pools of capital, with each playing a complementary role in the funding ecosystem. This will include development funding from our domestic banks, non-bank and alternative lenders, institutional investors, private equity providers and State sources, working together to deliver homes of all tenure types at the scale we...