Results 32,341-32,360 of 33,289 for speaker:Paschal Donohoe

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

Paschal Donohoe: The Government remains actively engaged with the insurance industry to address the cost of public liability insurance. While I, as Minister for Finance, cannot intervene directly in insurance pricing under the EU’s Solvency II Directive, significant reforms are being implemented to foster competition and reduce costs. Over the past two months, the Minister of State with special...

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

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. In Budget 2025, the Group A threshold...

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

Paschal Donohoe: The climate change risk matrix recently published on the Department of Finance website provides a framework or high level overview of how climate change physical and transitional risks are interlinked to the economy and financial system through a range of transmission channels. This framework is part of work that my Department is conducting to model and refine our understanding of...

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

Paschal Donohoe: At the outset, I wish to reassure the Deputy that I recognise the challenges faced by businesses in securing affordable insurance cover. Under the EU’s Solvency II Directive, neither the Minister for Finance nor the Central Bank of Ireland can intervene directly in insurance pricing or the provision of cover. As the Deputy is also aware, direct business supports fall under the remit of...

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

Paschal Donohoe: I would like to assure the Deputy that the Government remains fully committed to implementing this important piece of insurance legislation. The Government’s approach will be guided by the need for a balanced and evidence-based framework that delivers meaningful protections for consumers while ensuring the stability of the insurance market. The Insurance Ireland Code of Practice for...

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

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. While the thresholds were reduced...

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

Paschal Donohoe: The Government is committed to fostering a competitive, transparent, and consumer-friendly insurance landscape through ongoing reform efforts. The Programme for Government- Securing Ireland’s Future commits to a range of actions to encourage further competition in the market and to work with key stakeholders to enhance transparency and affordability across all types of insurance. A key...

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

Paschal Donohoe: As the Deputy may be aware, the tax code provides for income tax relief for oxygen tanks and oxygen subject to certain conditions being met, which have been set out below. Section 469 of the Taxes Consolidation Act 1997 (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...

Written Answers — Department of Finance: Legislative Measures (3 Apr 2025)

Paschal Donohoe: Upon the introduction of the Local Property Tax (LPT), the Government decided that a liability to the tax should apply to all owners of residential properties with a limited number of exemptions and no deductions. Limiting the exemptions and deductions available allows the rate to be kept low for liable persons who do not qualify for an exemption. The proceeds of the LPT are largely used...

Written Answers — Department of Finance: Housing Schemes (3 Apr 2025)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. The level of support available to first time buyers under the HTB...

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

Paschal Donohoe: The current Disabled Drivers Medical Board of Appeal (DDMBA) was formally appointed in September 2023 and following preparatory work appeal hearings recommenced in the first half of December 2023. It took longer than anticipated to recruit a new Board. In this regard four Expression of Interest campaigns had to be run over 18 months to source the legislatively required five members....

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

Paschal Donohoe: As I have said on many occasions, we very much regret the imposition of any tariffs. Our view is that they are economically destructive and push up costs and prices, hurting all parties involved. However, the reality is that we are now facing into a period of significant disruption to trade due to tariffs that will, unfortunately, directly impact on Irish exports. In anticipation of this...

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

Paschal Donohoe: In recognition of the needs of SMEs in the hospitality sector, the Programme for Government commits to bring forward measures to support SMEs, in particular in the retail and hospitality sectors. It acknowledges the increased cost pressures on these sectors and states that this will entail changes to VAT, PRSI and other measures. As the Deputy will be aware, in making any decision in...

Written Answers — Department of Finance: Official Engagements (3 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 194 and 195 together. As is traditional practice where possible during Saint Patrick’s Day programmes, I met with my German counterpart, Jörg Kukies, on 13 March during my visit to Frankfurt and Berlin. We discussed our respective economies and current European and global and economic challenges, including in relation to transatlantic...

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

Paschal Donohoe: The FSPO provides an independent, fair, impartial, confidential and free service for consumers to resolve complaints against financial service providers and pension providers. Complaints are resolved through either informal mediation, leading to a potential settlement agreed between the parties, or formal investigation and adjudication, leading to a legally binding decision. The majority...

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

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does...

Tariffs: Statements (9 Apr 2025)

Paschal Donohoe: With the agreement of the Leas-Cheann Comhairle and the House, I will share my remaining time with the Minister, Deputy Chambers. I am pleased to have the opportunity to address Dáil Éireann today on the issue of where global trade stands. It is now obvious we are facing a trade development that is a major challenge for the global economy and one that casts a dark shadow over...

Written Answers — Department of Transport, Tourism and Sport: Tax Code (9 Apr 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. In general, the 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 listed in Annex III, in respect of which Member States may apply a lower rate. The...

Written Answers — Department of Transport, Tourism and Sport: Middle East (9 Apr 2025)

Paschal Donohoe: The NTMA have informed me that the ISIF indirect holdings from year end 2023 as defined by the updated UN Database of the 30th June 2023 were as per the table below. Security Description Pooled (Indirect) Alstom SA € 74,907 Altice € 862,418 Booking Holdings € 691,768 ...

Written Answers — Department of Transport, Tourism and Sport: Tax Code (9 Apr 2025)

Paschal Donohoe: 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 has extensive guidance on its website in relation to the VAT rules which apply where a business receives services from outside the State, including information on the place of supply rules,...