Results 9,601-9,620 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Stamp Duty (11 Jul 2017)

Paschal Donohoe: My predecessor’s reply to Deputy Murphy’s Parliamentary Question number 231 of 20 June 2017 (alternatively numbered 26932/17) set out the stamp duty treatment that applies to leases of residential property. The Deputy has now asked about the 1% stamp duty charge where a lease exceeds 35 years, or is for an indefinite term, and where the rent exceeds €30,000 per annum (or...

Written Answers — Department of Finance: Help-To-Buy Scheme (11 Jul 2017)

Paschal Donohoe: At the time of Budget 2017, it was estimated that the Help-to-Buy incentive cost €50 million in 2017 and €40 million in a full year. Therefore, it would be expected that approximately €40 million in fiscal space per annum will accrue when the scheme ends. My predecessor agreed to commission an independent impact assessment on the effects of the Help to Buy incentive...

Written Answers — Department of Finance: Tax Data (11 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 147 and 149 together. I am informed by Revenue that as a result of the low number of REITs established under Irish Law (part 25A of TCA 1997, as amended), they are unable to provide this information due to their obligation to preserve the confidentiality of taxpayer information. Additionally, information in respect of potential future capital gains...

Written Answers — Department of Finance: Tax Data (11 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 148 and 150 together. Section 23 of the 2016 Finance Act introduced the Irish Real Estate Fund legislation(IREF) to address concerns regarding the use of funds in Irish property based transactions. The IREF legislation was the subject of lengthy discussions at both Committee and Report stages of Finance Bill 2016, during which it was emphasised that the IREF...

Written Answers — Department of Finance: Living Wage Expenditure (11 Jul 2017)

Paschal Donohoe: I wish to inform the Deputy that the cost of implementing a living wage of €11.70 per hour for all employees directly employed by my Department would be €20,133.89 annually. With regard to the cost of implementing a living wage of €11.70 per hour for all employees in agencies funded by my department, the Disabled Drivers Medical Board of Appeal is the only body funded...

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (11 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 155 and 156 together. The serious threat that fuel fraud and the illicit tobacco trade pose to legitimate business, to consumers and the Exchequer is recognised and I am advised by the Revenue Commissioners that tackling this criminal activity has been one of their priorities over recent years. Revenue’s comprehensive strategy for combatting the...

Written Answers — Department of Finance: Banking Sector Regulation (11 Jul 2017)

Paschal Donohoe: The Programme for Partnership Government places consumers at the centre of the Government’s banking sector policies by focusing on the strengthening of consumers’ rights and knowledge, and fostering greater competition in credit provision through supporting non-bank credit providers and reducing the State's ownership of the banking system. Statutory bodies play an...

Written Answers — Department of Finance: Banking Sector Data (11 Jul 2017)

Paschal Donohoe: All information in relation to AIB's financial performance is contained within the bank's annual report. The AIB annual report for 2016 can be found at the following link: I would draw the Deputy's attention to page 24 in particular which sets out the bank's Summary Income Statement for 2016 with a 2015 comparative.

Written Answers — Department of Finance: Banking Sector Data (11 Jul 2017)

Paschal Donohoe: All information in relation to Bank of Ireland's financial performance is contained within the bank's annual report. The Bank of Ireland annual report for 2016 can be found at the following link: I would draw the Deputy's attention to page 187 in particular which sets out the bank's income statement for 2016 with a 2015 comparative.

Written Answers — Department of Finance: Official Engagements (11 Jul 2017)

Paschal Donohoe: My predecessor as Minister for Finance, Mr Michael Noonan T.D., had planned to meet with US Treasury Secretary Mnuchin in April 2017 during his visit to Washington, D.C. for the Spring Meetings of the World Bank Group and the International Monetary Fund. Unfortunately, it was not possible to schedule a bilateral meeting with Secretary Mnuchin on that occasion. In my new role as Minister...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (11 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, the purpose of the Help to Buy (HTB) incentive is to help first-time buyers fund their first home, whether purchased from a builder or self-built. The legislative provisions for HTB are set out in Section 477C Taxes Consolidation Act 1997. Those provisions include the following: - the obligation on contractors that receive a payment in respect of a claimant...

Written Answers — Department of Finance: Departmental Expenditure (11 Jul 2017)

Paschal Donohoe: The total costs for my department, and the details of the events, campaigns, or policies to which the expenditure related are outlined in a table: Photography Year Supplier Expenditure € Event, Campaign, or Policy 2017 Sherwood photography 758 Department of Finance graduation ceremony for in-house Diplomas and the Refund of Fees attended by Minister Noonan 2016 Brendan Lyon...

Written Answers — Department of Finance: Tax Code (11 Jul 2017)

Paschal Donohoe: As outlined in Budget 2017, it is intended to introduce a tax on sugar sweetened drinks in April 2018, which will coincide with the introduction of a similar tax in the UK. A public consultation process opened on Budget night seeking the views of interested parties on the make up of the tax which ran until 3rd January 2017. Some 30 submissions were received, all of which are being...

Written Answers — Department of Finance: Proposed Legislation (11 Jul 2017)

Paschal Donohoe: The European Union's cornerstone for financial markets legislation is the Market in Financial Instruments Directive (MiFID) which provides the framework for investment service providers. The original directive, MiFID I, has been updated and MiFID II was due to be transposed into Irish law by the 3rd of July. MiFID II is voluminous and complex legislation and to date only one Member State...

Written Answers — Department of Finance: Proposed Legislation (11 Jul 2017)

Paschal Donohoe: Directive (EU) 2015/2366 (PSD2) was published in the Official Journal of the European Union on 23 December 2015. PSD2 is a maximum harmonisation directive, leaving only a small number of discretions for Member States. The Department of Finance ran a public consultation on those national discretions from June to September last year. That consultation, along with the submissions received...

Written Answers — Department of Finance: Pension Provisions (11 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 166 and 167 together. I am advised by Revenue that the commutation of small or trivial pensions is allowable in certain limited circumstances. Where, on retirement and following the payment of any lump sum the total of all funds available for pension benefits is less than €20,000 Revenue will not object to the payment of a once off pension to...

Written Answers — Department of Finance: Sale of State Assets (11 Jul 2017)

Paschal Donohoe: The Deputy should be aware that in line with the State agreements with AIB, all fees incurred by the State in relation to an IPO transaction will be paid by the bank. Following a successful transaction, fees are payable to the selling syndicate of investment banks and are proportionate to the value of the transaction. The fees that have been negotiated by my officials are approximately 0.4%...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pay (11 Jul 2017)

Paschal Donohoe: It is assumed that the Deputy is referring to the €1,000 increase in 2017 applicable to public servants on annualised basic salaries up to €65,000 under the Financial Emergency Measures in the Public Interest Act 2015. This increase which, under FEMPI 2015, is to take effect from 1 September 2017, was advanced to 1 April 2017 for most qualifying public servants. Increases...

Written Answers — Department of Public Expenditure and Reform: Departmental Expenditure (11 Jul 2017)

Paschal Donohoe: Earlier this year I informed the Government of the new approach that will be taken to review current Departmental expenditure in advance of Budget 2018. Due to the stabilising of the public finances by Government we have moved from a budgetary cycle where cuts had to be made to one where moderate and sustainable expenditure growth is now planned over the medium-term. However, there are...

Written Answers — Department of Public Expenditure and Reform: Public Procurement Regulations (11 Jul 2017)

Paschal Donohoe: Public Procurement is governed by EU and National rules. The aim of these rules is to promote an open, competitive and non-discriminatory public procurement regime which delivers the best value for money. It would be a breach of the EU rules for a public body to favour particular candidates on grounds such as organisation size, locality, nationality, etc. and there are legal remedies which...