Results 9,041-9,060 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that traders are not required to notify them of their prices or of any changes to their prices and that generally there is no legal basis for price controls in Ireland.  They have also informed me that they are well aware of claims that the interaction of the flat rate scheme for farmers and the normal VAT system can under certain circumstances be exploited to...

Written Answers — Department of Finance: Tax Reliefs Data (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 218 to 222, inclusive, together. Mortgage interest relief is administered through the Tax Relief at Source (TRS) system. The relief is applied by the lenders based on information provided by Revenue, which is sourced from the borrower’s application. Revenue carries out regular compliance checks on the lenders to ensure correct operation of the...

Written Answers — Department of Finance: Revenue Commissioners Investigations (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 223 to 225, inclusive, together. Revenue only refers outstanding tax liabilities to its enforcement agents, including Sheriffs, as a last resort. Before any such action is taken Revenue makes every effort to engage with the taxpayer and where possible will agree a mutually acceptable payment arrangement as an alternative. Revenue’s ongoing commitment in...

Written Answers — Department of Finance: Tax Reliefs Data (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 226 and 229 together. My Department does not provide direct grants to support items of arts, heritage, cultural or regional importance. In relation to tax expenditures, the following measures are in place: 1. Section 195 of the Taxes Consolidation Act 1997 covers the exemption of certain earnings of writers, composers and artists (commonly known as the...

Written Answers — Department of Finance: Brexit Issues (20 Jun 2017)

Paschal Donohoe: On 2nd May, the Government published a comprehensive document on Ireland and the negotiations on the UK’s withdrawal from the European Union under Article 50 of the Treaty on European Union. This document sets out the approach of the Government to the forthcoming negotiations, following the successful campaign to have key Irish issues recognised in the EU negotiation position. ...

Written Answers — Department of Finance: Mortgage Schemes (20 Jun 2017)

Paschal Donohoe: As the Deputy will be aware, the Code of Practice on the Transfer of Mortgages is a voluntary code which was issued by the Central Bank of Ireland in 1991 to institutions involved in mortgage credit.  The Code of Practice on the Transfer of Mortgages states that it applies to a loan secured by the mortgage of residential property.  For the purposes of this Code of Practice,...

Written Answers — Department of Finance: Banking Operations (20 Jun 2017)

Paschal Donohoe: As I stated in response to the Deputy's previous PQ, I have no role in the day-to-day management or financial reporting of any bank in which the State is a shareholder. The financial reporting obligations, accounting practices and publication of financial results are matters solely for the Board and Management of each institution. The International Accounting Standard that the...

Written Answers — Department of Finance: Stamp Duty (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that a lease for property is subject to Stamp Duty on both the premium and the rent.  The rate of duty on the premium for all residential leases mirrors the rate applicable to conveyances for residential property, for the years in question this being 1% on the first €1 million, and 2% on any excess over €1 million.  The rate on the average...

Written Answers — Department of Finance: Legislative Measures (20 Jun 2017)

Paschal Donohoe: I am informed that the only provision for which EU approval is outstanding is relief for certain leases of farmland found in section 81D SDCA 1999, which was introduced by section 74 Finance Act 2014.  The Department of Agriculture, Food and the Marine are liaising with the European Commission’s Directorate-General for Agriculture and Rural Development (DG Agri) in respect of...

Written Answers — Department of Finance: Tax Code (20 Jun 2017)

Paschal Donohoe: I understand the question refers to a working paper entitled 'Study on Structures of Aggressive Tax Planning and Indicators' that was prepared by consultants and published by the European Commission in December 2015.  The Study highlights features of the tax regimes in each EU Member State that, in the view of the authors, could potentially be indicators of aggressive tax planning....

Written Answers — Department of Finance: Tax Code (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 234, 237, 238, 285 and 286 together. I am advised by the Revenue Commissioners that under Irish tax law, non-resident companies are chargeable to Irish corporation tax only on the profits attributable to their Irish branches. The profits of non-resident companies that are not generated by their Irish branches – such as profits from technology, design...

Written Answers — Department of Finance: Pensions Data (20 Jun 2017)

Paschal Donohoe: Of the eighteen bodies under the aegis of my Department, I have been advised that in eight bodies, there are no pension contributions made by public sector workers including the pension levy in the years requested. These are the Comptroller and Auditor General, the Credit Union Advisory Committee, the Disabled Drivers Medical Board of Appeal, the Financial Services Ombudsman Council, the...

Written Answers — Department of Finance: Tax Clearance Certificates (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that they are awaiting a response to their letter of 19 April 2017 to the agents in the matter. Once the information sought is provided then the matter can be progressed by Revenue.

Written Answers — Department of Finance: Central Bank of Ireland Reports (20 Jun 2017)

Paschal Donohoe: The Statistics Division of the Central Bank provides embargoed statistical publications on mortgage arrears, ‘Residential Mortgage Arrears and Repossessions Statistics’, and SME lending, ‘Trends in Business Credit and Deposits’ pre-publication to the Department of Finance on request. These publications are provided on an embargoed basis as my Department...

Written Answers — Department of Finance: Property Tax Administration (20 Jun 2017)

Paschal Donohoe: The concept of a ‘de minimis’ welfare payment from the Department of Social Protection (DSP) is enshrined in social welfare legislation. The current ‘de minimis’ threshold is set at €191 per week and Revenue has no authority to arrange Local Property Tax (LPT) deductions that reduce a person’s payment below this amount.  In cases where LPT...

Written Answers — Department of Finance: Real Estate Investment Trusts (20 Jun 2017)

Paschal Donohoe: Where an Irish REIT gives shares in that company as remuneration to its employees, the shares are taxable as perquisites under section 112 of the Taxes Consolidation Act, 1997 and they are treated the same as shares in any company that are awarded or given to its employees. The shares are also liable to USC and employee PRSI. Where an employer awards shares to an employee free or at a...

Written Answers — Department of Finance: Real Estate Investment Trusts (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 242 and 243 together. I am advised by Revenue that if a non-resident shareholder disposes of his or her shares in an Irish REIT, there is no charge to capital gains tax in accordance with section 29 Taxes Consolidation Act (TCA) 1997. Typically, non-resident persons are chargeable to capital gains tax on disposals of relevant assets. Those assets...

Written Answers — Department of Finance: Tax Yield (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that the following table sets out the total first and full year yields to the Exchequer in the manner outlined by the Deputy including the tapering at a rate of 2% per €1,000 of the PAYE, EIC and Personal Credits for all income earners whose income is between €100,000 and €150,000 per year resulting in no entitlement to these tax credits when...

Written Answers — Department of Finance: Disability Act Employment Targets (20 Jun 2017)

Paschal Donohoe: The Disability Act 2005 sets out the legal obligations of public service bodies and includes: - the promotion and support of the employment of people with disabilities - compliance with any statutory Code of Practice - meeting the target of 3% of employing people with disabilities and - reporting annually on the achievement of these obligations. The Department of Finance adheres to...

Written Answers — Department of Finance: NAMA Debtor Agreements (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 246 to 248, inclusive, together. The Deputy will be aware that NAMA is required, under Section 10 of the NAMA Act 2009, to obtain the best financial return from its acquired loans. Among the measures adopted to achieve this statutory objective, NAMA enters into arrangements with some co-operative debtors which involve measures to motivate debtors to...