Results 32,021-32,040 of 33,289 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Legislative Programme (5 Mar 2025)

Paschal Donohoe: The instruments transposing EU law are referred to the Oireachtas Committee on Finance, Public Expenditure and reform and An Taoiseach in two main circumstances. If a transposition is being effected by means of primary legislation the bill is referred to the relevant Committee for pre-legislative scrutiny and for Committee stage in the same way as any other bill. However, most...

Written Answers — Department of Finance: Departmental Reviews (6 Mar 2025)

Paschal Donohoe: I have been informed by Revenue that a 'conversion' means that the characteristics of a vehicle are modified so that the details given at registration are changed. There are three ways in which a vehicle can be converted; converting a new and unregistered vehicle, converting a vehicle registered outside of Ireland before registration in Ireland, and converting a vehicle already registered in...

Written Answers — Department of Finance: Departmental Policies (6 Mar 2025)

Paschal Donohoe: SMEs are the foundation of the Irish economy, accounting for the majority of employment in the State. To support these small businesses, Government provides various tax reliefs, particularly during the start-up phase, allowing them sufficient time to establish themselves and become profitable. Their vital importance to our economy is reflected in our Programme for Government commitments. ...

Written Answers — Department of Finance: Legislative Process (6 Mar 2025)

Paschal Donohoe: I wish to confirm for the Deputy that 14 Statutory Instruments have been signed so far in 2025, of which five transpose or enable EU legislation, six implement EU restrictive measures, and two commence sections of the primary legislation. The list of SIs signed is set out in the table below. Title Purpose Date S.I. No. 6 of 2025 - European...

Written Answers — Department of Finance: Departmental Data (6 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 239, 242, 243, 246 and 247 together. Section 114 of the Taxes Consolidation Act (“TCA”) 1997 provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. I am informed by Revenue that the flat rate expense (“FRE”)...

Written Answers — Department of Finance: Tax Collection (6 Mar 2025)

Paschal Donohoe: As a small open economy, connected to Europe, the US and the wider world, Ireland is committed to a competitive, transparent and stable corporation tax system. As the Deputy will be aware, the trading profits of companies in Ireland are generally taxed at the standard corporation tax rate of 12.5%, and under the Pillar Two Minimum Tax Directive the effective rate has increased to 15% for...

Written Answers — Department of Finance: Insurance Industry (6 Mar 2025)

Paschal Donohoe: As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, I wish to highlight the Government’s continued commitment to in the new Programme For Government - Securing Ireland’s Future to publish a new Action Plan for Insurance Reform which will be focused on...

Written Answers — Department of Finance: Insurance Industry (6 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 244 and 245 together. As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. The European Insurance and Occupational Pensions Authority (EIOPA) is a European Union financial regulatory institution which was established in consequence...

Written Answers — Department of Finance: Tax Reliefs (20 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 242 and 245 together. The Deputy will appreciate that Revenue is bound by the confidentiality provisions in Section 851A of the Taxes Consolidation Act from commenting on the taxation position of specific taxpayers. Revenue operates a self-assessment system for VAT and therefore the application of VAT on services is primarily a matter for the company or...

Written Answers — Department of Finance: Office of the Comptroller and Auditor General (20 Mar 2025)

Paschal Donohoe: The function/office of C&AG is established under Article 33 of Bunreacht na hÉireann. The holder of the office is required (inter alia) to audit the accounts of all bodies or funds operated by or under the authority of Dáil Éireann. The list of such bodies or funds changes from time to time, in line with legislation on the formation or cessation of public bodies. ...

Written Answers — Department of Finance: Information and Communications Technology (20 Mar 2025)

Paschal Donohoe: I wish to advise the Deputy that there are 36 active copper communication lines inclusive of ISDN, PSTN, copper-based and lease lines across my department and the Department of Public Expenditure, National Development Delivery Plan and Reform (as part of a shared services arrangement whereby my Department pays the monthly costs). My Department keeps these requirements under review.

Written Answers — Department of Finance: National Treasury Management Agency (20 Mar 2025)

Paschal Donohoe: I refer the Deputy to the responses given by the then Ministers for Finance under Parliamentary Questions 120 answered on 18 June 2024 and 122 answered on 4 July 2024. I understand that the position has not changed since these substantive replies issued. See links below. www.oireachtas.ie/en/debates/question/2024-07-04/122/#pq_122 www.oireachtas.ie/en/debates/question/2024-06-18/120/

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that, following a procurement process, a contract for the delivery of a new Revenue Customs Cutter was signed with AuxNaval in August 2023 and is expected to come into service in September 2025. The new Cutter will replace RCC Suirbhéir which is in service since 2004 and is approaching the end of its service life. The contract includes an option for a second...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that it strongly encourages timely compliance and engagement by taxpayers towards paying the right amount of tax at the right time and meeting their return filing obligations. By doing so, taxpayers avoid any exposure to penalties or interest for late payment. Collection of interest by Revenue is a key element in reflecting the value of money forgone by the Exchequer...

Written Answers — Department of Finance: Banking Sector (20 Mar 2025)

Paschal Donohoe: Credit institutions engaged in mortgage lending in Ireland align their definition of non-performing loans (NPLs) with relevant European banking regulation. The most relevant legislation is Regulation (EU) 575/2013 (the Capital Requirements Regulation), as amended, where Article 47a defines non-performing exposures (NPE) as those meeting any of the following criteria: (a) an exposure in...

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2025)

Paschal Donohoe: Under sections 77 and 78 of CATCA 2003, CAT gifts and inheritances of pictures, prints, books, manuscripts, works of art, jewellery, scientific collections or other things not held for the purposes of trading may be exempt from CAT where the following conditions are satisfied: (1) the property is of national, scientific, historic or artistic interest, (2) the property is kept permanently in...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 251 and 264 together. Section 110 of the Taxes Consolidation Act 1997 sets out a regime for the taxation of special purpose companies set up to securitise assets. The tax provisions are intended to create a tax neutral regime for bona-fide securitisation and structured finance purposes. The section 110 regime enables noteholders to invest through one...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: Tax treaties allow for the smooth and regulated taxation of international business and investment activities. Ireland’s longstanding tax treaty policy has been to expand, maintain, and enhance its network to remove barriers and facilitate trade and investment opportunities between Ireland and partner jurisdictions. They provide greater certainty and fairness for taxpayers regarding...

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2025)

Paschal Donohoe: As was noted in my reply to the Deputy's similar PQ that issued to him on the 5th of February this year, I am advised by Revenue that section 124B of the Stamp Duties Consolidation Act 1999 provides for a Stamp Duty levy of 1% to be levied in respect of certain life insurance premiums paid to insurers. The levy is payable by the insurers to Revenue on a quarterly basis. It was introduced...

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2025)

Paschal Donohoe: Revenue approval is required in advance of transfers to a pension scheme in a country other than the UK or an EU Member State. If the transfer is to a country outside the EU (other than the UK) a transfer may not be made to a country other than the one in which the member is currently employed. I am advised by Revenue that due to the small number (less than 10) of applications for pension...