Results 32,921-32,940 of 33,289 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Credits (12 Jun 2025)

Paschal Donohoe: The estimated cost of increasing the main tax credits can be found in the Revenue Ready Reckoner (Post Budget 2025 – page 5), available on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf These figures are based on 2025 estimates from the Revenue tax forecasting model using latest actual data for the year 2022, adjusted as necessary for...

Written Answers — Department of Finance: Tax Yield (12 Jun 2025)

Paschal Donohoe: The Defective Concrete Products Levy (DCPL) is provided for in Part 18E of the Taxes Consolidation Act (TCA) 1997. The DCPL was introduced by section 99 of the Finance Act 2022, and was amended in section 93 of the Finance (No.2) Act 2023. The levy is calculated at 5% of the open market value of products within the charge of the levy on the date of their first supply. The concrete products...

Written Answers — Department of Finance: Tax Credits (12 Jun 2025)

Paschal Donohoe: Following clarification from the Deputy’s office, it was confirmed that the removal of credits will apply to the personal tax credit, PAYE tax credit and the earned income tax credit. In addition, that the credits will be removed in a tapered way by 2.5% per €1,000, resulting in no benefit from these tax credits for those on incomes in excess of €140,0000. Further, it is...

Written Answers — Department of Finance: Tax Yield (12 Jun 2025)

Paschal Donohoe: An Air Travel Tax (ATT) applied to departures of passengers on flights from certain Irish airports from 30 March 2009 until 1 April 2014. Initially, there were two different rates of tax charged, €10 for each passenger flying to an airport more than 300 km from Dublin Airport (long-haul), and €2 per passenger flying to any other airport within 300 km from Dublin airport...

Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025: Second Stage (17 Jun 2025)

Paschal Donohoe: I move: "That the Bill be now read a Second Time." The local property tax is due for revaluation on 1 November of this year. I am introducing this Bill to make a number of important changes to the structure of the local property tax so that they can take effect from this date, in line with the commitment given in the programme for Government. This tax was introduced in 2012. The...

Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025: Second Stage (17 Jun 2025)

Paschal Donohoe: I thank everyone who contributed to this debate. I took careful note of the points the 24 speakers have made. I will begin by thanking Members from the Government benches and elsewhere who voiced support for the Bill and who recognised the important role the local property tax plays in supporting public services and funding local authorities. I appreciate their support. As that support is...

Written Answers — Department of Finance: Transport Policy (17 Jun 2025)

Paschal Donohoe: I am advised by Revenue that VAT is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. Irish VAT legislation, in compliance with EU VAT law provides that taxable persons who are receiving services from outside the State, in the course of their business, are accountable and liable to pay VAT on?the reverse charge basis. This provision applies...

Written Answers — Department of Finance: Tax Code (17 Jun 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates of VAT and can also apply a zero rate to certain goods and...

Written Answers — Department of Finance: Tax Credits (17 Jun 2025)

Paschal Donohoe: The Incapacitated Child Tax Credit (ICTC) which is provided for by section 465 of the Taxes Consolidation Act (“TCA”) 1997, is available to an individual who has a child living, at any time in a year of assessment, who:if under 18 years of age is permanently incapacitated by reason of mental or physical infirmity and the infirmity is such that there would be a reasonable...

Written Answers — Department of Finance: Flexible Work Practices (17 Jun 2025)

Paschal Donohoe: Support is available to remote workers within the tax system. The Remote Working Relief (RWR), provided for under section 114A of the Taxes Consolidation Act 1997 (TCA), allows taxpayers to claim 30% of electricity, heat and broadband expenses incurred in respect of days spent working from home as an Income Tax deduction. There is a legislative requirement in section 114A TCA that receipts...

Written Answers — Department of Finance: Mortgage Interest Rates (17 Jun 2025)

Paschal Donohoe: I propose to take Questions Nos. 264, 265, 266 and 267 together. The Central Bank publishes full Primary Dwelling Home (PDH) mortgage interest rate distributions in its “Frontier Statistics: Mortgage Interest Rate Distributions”. The latest information which is for Q4 2024 in relation to the percentage of accounts with interest rates above 6%, 7%, and 8% split by banks,...

Written Answers — Department of Finance: Seized Property (17 Jun 2025)

Paschal Donohoe: I am advised by Revenue that on 2 December 2024, the Special Criminal Court authorised the release of the MV Matthew, thereby facilitating its disposal. It was not possible to commence the disposal process prior to this date. I have been further advised by Revenue that it was necessary to retain a globally recognised provider of integrated shipping services with an international breadth of...

Written Answers — Department of Finance: Banking Sector (17 Jun 2025)

Paschal Donohoe: The Central Bank of Ireland has provided me with the following information on the matter. In March 2024, the Governing Council of the ECB decided to introduce changes in the operational framework for implementing monetary policy. The outcome of the operational framework review confirmed that the Eurosystem’s monetary policy stance will continue to be steered via the Deposit...

Written Answers — Department of Finance: Grant Payments (17 Jun 2025)

Paschal Donohoe: My Department does not operate a grant funding scheme for car adaptations. In relation to disability supports, its role is confined to the oversight of the Disabled Drivers and Disabled Passengers Scheme (DDS) only. The DDS provides relief from VRT and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently...

Written Answers — Department of Finance: Departmental Reports (17 Jun 2025)

Paschal Donohoe: As you are aware, in October 2024 my predecessor published “Funds Sector 2030: A Framework for Open, Resilient & Developing Markets.” That report set out 42 recommendations to cement Ireland’s position as a leading global hub for funds and asset management. Under the 2025 Programme for Government we have committed to progress and publish an implementation plan...

Written Answers — Department of Finance: Veterinary Services (17 Jun 2025)

Paschal Donohoe: I am advised by Revenue that 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 EU VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within certain listed categories to which Member States may apply a lower rate. In accordance...

Written Answers — Department of Finance: Tax Code (17 Jun 2025)

Paschal Donohoe: I am advised by Revenue that the VAT registration thresholds are subject to the requirements of EU VAT law, with which Irish VAT law must comply. Under the EU VAT Directive there is an upper limit of €85,000 on registration thresholds that Member States may apply. The EU VAT Directive does not allow Member States to set a national annual threshold higher than that. Ireland’s VAT...

Written Answers — Department of Finance: Credit Register (17 Jun 2025)

Paschal Donohoe: The Credit Reporting Act 2013 (the Act) provided for the establishment of a Central Credit Register (CCR) by the Central Bank. Under the Act, lenders are obliged to submit information to the CCR on outstanding and new loans of €500 or more. On 30th June 2017, lenders began submitting information on active consumer loans such as credit cards, personal loans, overdrafts and mortgages....

Written Answers — Department of Finance: Departmental Reports (17 Jun 2025)

Paschal Donohoe: As you are aware, in October 2024 my predecessor published “Funds Sector 2030: A Framework for Open, Resilient & Developing Markets.” That report set out 42 recommendations to cement Ireland’s position as a leading global hub for funds and asset management. Under the 2025 Programme for Government we have committed to progress and publish an implementation plan...

Written Answers — Department of Finance: Tax Code (17 Jun 2025)

Paschal Donohoe: I am advised by Revenue that 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 EU VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within certain listed categories to which Member States may apply a lower rate. The supply of...