Results 32,281-32,300 of 33,289 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (2 Apr 2025)

Paschal Donohoe: As the Deputy will be aware, wealth is already taxed in a number of ways in Ireland. These include Capital Gains Tax (CGT), and Capital Acquisitions Tax (CAT). Certain forms of Stamp Duty also act as taxes on wealth in a number of ways, including that charged on the acquisition of the shares, stocks and marketable securities of Irish registered companies, and on the acquisition of property...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary-orientated tax that is charged on gifts and inheritances that is payable by the recipient (i.e. the beneficiary) as opposed to the person providing that gift or inheritance (i.e. the disponer). ?CAT is not payable on gifts or inheritances if the taxable value is below a particular lifetime threshold and the applicable threshold depends on the...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Capital Acquisitions Tax (or “CAT”) is a tax which applies to both gifts and inheritances and is charged at a rate of 33%. For CAT purposes, the relationship between the person giving a gift or inheritance and the person who receives it determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. Along with tax free group...

Written Answers — Department of Finance: Company Law (3 Apr 2025)

Paschal Donohoe: There is a comprehensive legal and regulatory framework governing the provision of credit to consumers, and which applies to all borrowers. However, the Deputy refers to companies offering to re-mortgage of properties, especially in the context of older citizens, and in that context I assume he specifically referring to lifetime mortgages. Lifetime mortgages are a particular type of...

Written Answers — Department of Finance: Tax Collection (3 Apr 2025)

Paschal Donohoe: Ireland’s taxation of fuel and electricity is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). ETD provisions on mineral oils are transposed into national law in Finance Act 1999 (as amended). Finance Act 1999 provides for the application of excise duty, in the form of Mineral Oil Tax (MOT) to liquid fuels that are...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: I remain fully committed to maintaining a competitive business environment which continues to deliver economic growth and prosperity. The Programme for Government sets out a number of commitments including to the maintenance of a broad tax base while implementing progressive changes in taxation as the economy allows, supporting innovation and entrepreneurship and maintaining...

Written Answers — Department of Finance: Departmental Consultations (3 Apr 2025)

Paschal Donohoe: Financial literacy and education are key components of financial consumer protection as they cover people’s awareness, behaviour, knowledge, attitudes and skills towards money. They are an important life skill that everyone should have, which will ultimately benefit people’s overall financial resilience and wellbeing at all stages of their life. Following a recommendation...

Written Answers — Department of Finance: State Assets (3 Apr 2025)

Paschal Donohoe: 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 companies. ISIF’s indirect investments included eight companies, totalling approximately €9.4 million. ISIF divested from six of these companies with a total value of approximately €2.95 million in 2024....

Written Answers — Department of Finance: Insurance Industry (3 Apr 2025)

Paschal Donohoe: As the Deputy may be aware, the Equal Status Acts 2000-2018 are under the remit of the Minister for Justice. The legislation protects against discrimination on nine specific grounds, including age. However, the legislation also provides that people can be treated differently on any of the grounds (except gender) in relation to the provision of annuities, pensions, insurance policies or any...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Prior to 2000, the income tax system allowed for full joint assessment of married couples. This meant that a married one earner couple could use the combined tax credits and standard rate band available to both individuals – i.e. double the personal tax credit and standard rate band available to a single earner. As a result, where the primary earner of a married couple had sufficient...

Written Answers — Department of Finance: Fiscal Policy (3 Apr 2025)

Paschal Donohoe: As I have said on many occasions - we regret the imposition of tariffs on any sectors. Tariffs create economic disruption and drive inflation, with negative consequences for all sectors involved. The Government has taken careful note of President Trump’s decisions and proposals with regards tariffs announced yesterday. The trading relationship with the United States is...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Section 285D of the Taxes Consolidation Act 1997 provides for a scheme of accelerated capital allowances for capital expenditure incurred on qualifying farm safety equipment, and adaptive equipment for farmers with disabilities. The aim of the accelerated capital allowance scheme is to incentivise the purchase of farm safety equipment, and the replacement of equipment that may be old or...

Written Answers — Department of Finance: Tax Credits (3 Apr 2025)

Paschal Donohoe: 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.” The Programme for Government also acknowledges that “sport holds a special place in Irish life and society...

Written Answers — Department of Finance: Interest Rates (3 Apr 2025)

Paschal Donohoe: The Central Bank has put in place a range of measures in order to protect consumers who have or who are taking out a mortgage. This consumer protection framework, which applies in the same way to all regulated mortgage entities such as banks, retail credit firms and credit servicing firms, seeks to ensure that lenders are transparent and fair in all their dealings with borrowers and that...

Written Answers — Department of Finance: Tax Code (3 Apr 2025)

Paschal Donohoe: Budget 2010 announced the introduction of a carbon tax on fossil fuels in Ireland. Carbon taxation of petrol and auto-diesel came into effect in December 2009. It was extended to other liquid fuels and natural gas in 2010, and to solid fuels in 2013. Ireland’s carbon tax regime is a carbon pricing mechanism which directly links the taxation of fossil fuels to carbon dioxide emissions:...

Written Answers — Department of Finance: Tax Reliefs (3 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 27 and 56 together. I note that the questions refer to childcare services and I have assumed that the queries are in relation to the accelerated capital allowances scheme, which is available for childcare and fitness centre equipment, and for buildings used for the purposes of providing childcare services or fitness centres, to employees. In general,...

Written Answers — Department of Finance: Banking Sector (3 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 28 and 75 together. The Finance (Provision of Access to Cash Infrastructure) Bill 2024, published in July 2024, provides for sufficient and effective access to cash. The Bill completed Second Stage in Dáil Éireann on 26 September 2024 and was scheduled for Third and remaining stages in Dáil Éireann on 02 April 2025. The Bill provides for...

Written Answers — Department of Finance: Credit Unions (3 Apr 2025)

Paschal Donohoe: My officials, together with credit union stakeholders worked collaboratively to deliver the Credit Union (Amendment) Act 2023 (2023 Act). The 2023 Act represents a very significant piece of legislation that will have far-reaching positive implications for the credit union sector in the years to come. One of the key deliverables in the 2023 Act is ensuring all credit union members have...

Written Answers — Department of Finance: Financial Services (3 Apr 2025)

Paschal Donohoe: The Financial Services and Pensions Ombudsman (FSPO) provides an independent, fair, impartial, confidential and free service to resolve complaints from consumers, including small businesses and other organisations, against financial service providers and pension providers. The FSPO was established in January 2018 by the Financial Services and Pensions Ombudsman Act 2017, and the Ombudsman...

Written Answers — Department of Finance: Fiscal Policy (3 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 31, 51 and 86 together. It is important to stress at the outset - we regret the imposition of any tariffs. The Government's view is that they create economic disruption and drive inflation, hurting all sides. Nonetheless, the reality is that we have entered into a period of significant disruption to trade due to tariffs that will, unfortunately, now...