Results 9,061-9,080 of 32,864 for speaker:Paschal Donohoe

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

Paschal Donohoe: I understand the question refers to a working paper 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. The agreed international approach to tackling aggressive tax planning is...

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

Paschal Donohoe: I assume the Deputy is referring to the Home Carer Tax Credit. I am advised by Revenue that in 2014, the most recent year for which figures are available, the maximum amount of home carer tax credit available was €810 and the overall cost to the Exchequer for this credit was an estimated €60.9 million, in respect of 80,900 recipients. The Deputy will be aware that the home carer...

Written Answers — Department of Finance: Financial Services Regulation (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 251 to 254, inclusive, together. I am aware of the matters relating to certain property investment funds that the Deputy has raised, which my officials will continue to monitor. However, as litigation relating to a number of funds, including those identified by the Deputy, are currently before the courts, it would be inappropriate for me to comment at...

Written Answers — Department of Finance: Private Rented Accommodation (20 Jun 2017)

Paschal Donohoe: As the Deputy will be aware, the Strategy for the Rental Sector, published by the Department of Housing, Planning, Community and Local Government in December 2016, committed to the establishment of a working group in early 2017 to examine and report on the tax treatment of landlords (or rental accommodation providers), and to put forward options, where appropriate, for amendments to such...

Written Answers — Department of Finance: VAT Rate Reductions (20 Jun 2017)

Paschal Donohoe: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. While most economic activity is subject to the standard VAT rate of 23%, construction services already avail of the reduced VAT rate of 13.5%.  Ireland has historically applied the 13.5% reduced rate of VAT to all construction services under a derogation from the EU VAT Directive.   The...

Written Answers — Department of Finance: VAT Rate Reductions (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 257, 287 and 288 together. The VAT rating of goods and services is subject to EU VAT law, primarily Council Directive 2006/112/EC, with which Irish VAT law must comply. The VAT Directive provides that Member States must apply a standard VAT rate at no lower than 15% and may apply two reduced rates between 5% and 15% to certain goods and services as listed...

Written Answers — Department of Finance: VAT Rate Reductions (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 258 and 289 together. VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. While most economic activity is subject to the standard VAT rate of 23%. Construction services already avail of the reduced VAT rate of 13.5%. Ireland has historically applied the 13.5% reduced rate of VAT to all construction services under a derogation from...

Written Answers — Department of Finance: Question Heading for question(s) 259 (20 Jun 2017)

Paschal Donohoe: As the Deputy will be aware, peer-to-peer lending is a form of crowdfunding. Crowdfunding involves obtaining small amounts of funding from a large number of different sources, generally individuals but they can also be institutions. Peer-to-peer lending involves lenders providing money directly to borrowers as a loan that is to be repaid with interest through an online crowdfunding platform....

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

Paschal Donohoe: NAMA expects to repay its outstanding guaranteed senior debt of €500m by the end of 2017 and to redeem its subordinated debt in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and residential funding programmes in the interim period to 2020. NAMA's 2016 Annual Report was laid before the Oireachtas on 1 June 2017 and provides further insight...

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

Paschal Donohoe: As the Deputy is aware the most recent estimate of the net fiscal space available for 2018 is €1.2 billion (The gross fiscal space is €1.8 billion but €600 million of this is pre-committed spending in order to address factors including demographics). This figure was set out in the documentation that accompanied Budget 2017 last October.  In answer to...

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

Paschal Donohoe: I am informed by Revenue that the person concerned will have no liability to customs duty or VAT on the importation of a wheelchair for his own use. Electric wheelchairs are classified at tariff code 8713 90 00 00. The rate of customs duty for importation of electric wheelchairs from the United States of America is 0%.  VAT on importation of the electric wheelchair is also 0% in...

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

Paschal Donohoe: Additional revenue generated from a policy decision to not to proceed with indexation was included in the discretionary revenue measures set out in Table A7 Application of Expenditure Benchmark, on a no policy change from 2018 onwards in Annex 2 of? the Budget 2017 publication.   It was estimated that the total Exchequer yield in 2018 from non-indexation of the Income Tax...

Written Answers — Department of Finance: VAT Rate Increases (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 264 and 265 together. I am informed by Revenue that it is tentatively estimated that the revenue generated from the restoration of the VAT rate from 9% to 13.5% is likely to be in the region of €490m for the hospitality sector as a whole and €190m specific to the accommodation sector, in both cases assuming no change in consumer behaviour.

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

Paschal Donohoe: The information requested by the Deputy is not available within the Department of Finance. As the Deputy is aware, the Relationship Framework agreements define the arm's-length nature of the relationship between the State and the banks in which the State has an investment, and as such each bank is individually and independently responsible for managing their stock of...

Written Answers — Department of Finance: VAT Payments (20 Jun 2017)

Paschal Donohoe: The VAT gap is an estimate comparing a maximum theoretical tax liability (approximated from economic activity in a country) against actual VAT collected. The difference arises due to a range of factors. These include revenue loss due to fraud and evasion. However, it also covers insolvencies, bankruptcies, administrative errors, legal tax optimisation as well as miscalculations. Since...

Written Answers — Department of Finance: Departmental Contracts (20 Jun 2017)

Paschal Donohoe: My Department has not awarded contracts to Accenture since March 2011. However, I am advised that two Bodies under my Department’s remit have provided positive returns in reply to the Deputy’s question. I shall outline their returns in tabular format as follows:   Body Contracts Awarded to Accenture per annum since March 2011 Cost per Contract Basis for each Contract...

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

Paschal Donohoe: I am advised by Revenue that they have 18 public offices of which 13 currently provide an appointments service.  The provision of an appointments service reflects a reduced demand for the traditional 'walk-in' services to Revenue's public offices - the number of personal callers fell by 64% since 2008. By mid-July 2017 Revenue envisages that all public offices except Dublin...

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

Paschal Donohoe: Revenue’s clear preference is always to engage with taxpayers and businesses and where possible to agree mutually acceptable payment arrangements in preference to deploying debt collection/enforcement sanctions. Cases are only referred to enforcement agents, including Sheriffs and external solicitors, where all attempts to engage with the taxpayer/business have failed to resolve the...

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

Paschal Donohoe: I propose to take Questions Nos. 271 and 273 together. In relation to Question 27578/17, I am advised by Revenue that two of the ten largest companies (that paid 37% of net Corporation Tax receipts in 2016) were members of the same corporate group. The percentage of the net Corporation Tax attributable to the top ten groups in 2016 was 40.8%. With regards to Question 27622/17, I am further...

Written Answers — Department of Finance: Motor Insurance (20 Jun 2017)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...