Results 32,481-32,500 of 33,289 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (29 Apr 2025)

Paschal Donohoe: I have been informed by Revenue that the information furnished on tax returns does not require advertising and marketing expenses to be separately identified. As such, Revenue does not have any data from which to provide an estimate of the cost of such reliefs claimed by alcoholic beverage manufacturing companies.

Written Answers — Department of Finance: Departmental Schemes (29 Apr 2025)

Paschal Donohoe: The Help to Buy (HTB) scheme is an incentive to assist first-time purchasers with the deposit they require to buy or build a new house or apartment. The scheme gives a refund of Income Tax and Deposit Interest Retention Tax paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: Departmental Inquiries (29 Apr 2025)

Paschal Donohoe: Ireland enjoys a deep and wide-ranging bilateral relationship with Japan, owing from cultural and people-to-people ties, our economic and trade relationship, and our cooperation on global affairs across an array of fora and channels including the G20 and the OECD. Since my re-appointment as Minister for Finance in January of this year, I have not yet had the opportunity for direct formal...

Written Answers — Department of Finance: Departmental Inquiries (29 Apr 2025)

Paschal Donohoe: ‘Foundations for the Future’, the Report of the Commission on Taxation and Welfare, was published in September 2022. The report is wide-ranging and contains 116 recommendations relating to the future of Ireland’s taxation and welfare systems. In its terms of reference, the Commission was asked to independently consider how best the taxation and welfare systems can...

Written Answers — Department of Finance: Departmental Policies (29 Apr 2025)

Paschal Donohoe: As stated in my reply to PQ 21060/25, which issued on 25 February 2025, the Programme for Government 2025 commits to introducing a new, all-of-government national housing plan to follow Housing for All. Any proposals for new measures will be considered in this context. Noting that as my colleague, the Minister for Housing, Local Government and Heritage, James Browne TD has responsibility...

Written Answers — Department of Finance: Climate Action Plan (29 Apr 2025)

Paschal Donohoe: All liquid fuels, including biofuels such as hydrotreated/hydrogenated vegetable oil (HVO), are subject to Value-Added Tax (VAT), and to excise duty in the form of Mineral Oil Tax (MOT). It should be noted that in order to incentivise the uptake of more sustainable and renewable fuels the legal frameworks for Mineral Oil Tax provide that biofuels, such as HVO, are relieved from carbon...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: I am informed by Revenue that income tax liability is calculated on taxpayers’ total income from all sources, rather than being separately calculated for each source of income (such as rental income) and having regard to any relevant reliefs or credits. For this reason, it is not possible to identify tax paid arising from rental income alone. However, the Deputy may be interested to...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: I am advised by Revenue that the available information in relation to the yield from Stamp Duty on Shares for the years 2020 to 2023 is published on the Revenue website at: . The table below provides the yield from Stamp Duty on Shares from 2020 to 2024. Year Stamp Duty on Shares €m 2024 494.76 2023 784.91 ...

Written Answers — Department of Finance: Tax Reliefs (29 Apr 2025)

Paschal Donohoe: Revised Entrepreneur Relief is provided for in Section 597AA of the Taxes Consolidation Act 1997. It provides that a reduced rate of 10% of Capital Gains Tax (CGT) applies in respect of a chargeable gain or chargeable gains on a disposal or disposals of qualifying business assets by an individual up to a lifetime limit of €1 million. Any chargeable gain in excess of the €1...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: Deposit Interest Retention Tax (DIRT) is a tax deducted by Irish financial institutions from deposit interest paid or credited to the accounts of Irish residents. DIRT is deducted at a rate of 33% from the total interest paid on all deposit accounts held by Irish-resident individuals. I am informed by Revenue that the statistical information in respect of DIRT receipts on an annual basis is...

Written Answers — Department of Finance: Departmental Data (29 Apr 2025)

Paschal Donohoe: The table below shows deposits from households held with Irish resident Credit Institutions (including credit unions) at the year end for 2020 -2024 and at end-February 2025. Year Month € millions 2020 Dec 129,171 2021 Dec 140,867 2022 Dec 148,577 ...

Written Answers — Department of Finance: Revenue Commissioners (29 Apr 2025)

Paschal Donohoe: I am advised that Revenue is committed to targeting the illegal importation and exportation of prohibited and restricted goods and implements a range of measures to identify and target illegal smuggling, including duty free tobacco and alcohol in excess of duty-free allowances, and where possible, prosecuting those involved. Revenue’s approach involves the use of analytics and...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: There are a range of collective investment vehicles within the investments funds sector. Irish collective investment vehicles (investment funds), which are authorised and regulated by the Central Bank of Ireland, generally operate under what is known as the “Gross Roll-Up” regime. This means that monies invested in such funds can grow on a tax-free basis within the fund....

Written Answers — Department of Finance: Departmental Data (8 May 2025)

Paschal Donohoe: This Parliamentary Question has been transferred by the Minister of Enterprise, Trade and Employment as it relates to tax matters. Capital Acquisition Tax (CAT) heritage-based exemptions that the Deputy is referring to include, as part of their eligibility conditions, a requirement that “reasonable facilities for viewing” are provided in respect of the heritage object, or...

Written Answers — Department of Finance: Insurance Industry (8 May 2025)

Paschal Donohoe: As the Deputy will be aware, neither I as Minister for Finance nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive). However, I am aware that the cost of...

Written Answers — Department of Finance: Tax Data (8 May 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...

Written Answers — Department of Finance: Information and Communications Technology (8 May 2025)

Paschal Donohoe: I wish to advise the Deputy that my Department has not undertaken or commissioned IT projects in excess €1 million in the timeframe specified. The Central Bank of Ireland was unable to provide the requested information in the timeline available. A follow up response will be provided in line with standing orders. The remaining bodies under the aegis of the Department have advised as...

Written Answers — Department of Finance: Departmental Schemes (8 May 2025)

Paschal Donohoe: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS 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 mobility of the individual. However, this is very much a matter for Government as...

Written Answers — Department of Finance: Tax Data (8 May 2025)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides repayment or remission of Vehicle Registration Tax (VRT) and Value Added Tax (VAT), up to certain limits, on the purchase or adaption of a vehicle for the transport of a person with specific severe and permanent physical disabilities is currently under review. The maximum allowable limits of VRT and VAT relief under the Scheme are...

Written Answers — Department of Finance: Tax Data (8 May 2025)

Paschal Donohoe: I note the Deputy’s query regarding the expiration of tax measures in 2025 and 2026. My Department hold and maintain a master list of all tax expenditures. This master list is reported on in the annual Tax Expenditures in Ireland Report, (the latest Report is available here: ). The master list is published in Annex 1 of this report. It may also be of interest to the Deputy that on 1...