Results 10,541-10,560 of 32,864 for speaker:Paschal Donohoe

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: -----she levelled at me a moment ago.

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: As announced in my budget day speech on 10 October 2017, it is my intention to establish HBFI to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty obtaining debt funding or credit. HBFI will be a stand-alone entity that will provide funding directly into the market. It will be designed to leverage off the extensive expertise...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: The legislation is under preparation and I am confident that I will be in a position to publish it towards the end of this year and bring it before the House in the early part of next year. Regarding the terms and conditions relating to the credit and how it would be made available to companies, it must and will be made available on commercial and market-equivalent terms. In other words,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: It is my intention at this point that HBFI would primarily be focused on the private sector. The rationale behind this thinking is that in dealing with approved housing bodies and local authorities, my experience is that the issue they face is not the rate of interest on the credit they need. In many cases the funding they need is provided directly by the Exchequer. For this reason, my...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: Prior to 2015, film relief took the form of an investor tax relief which provided an incentive to individual and corporate taxpayers to invest in Irish film production. The relief was granted by way of a deduction from total income of the amount invested for the year of assessment in which the qualifying film investment was made. The Finance Act 2013 amended the scheme such that, rather...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: I have a later question from Deputy Richard Boyd Barrett about this general issue and I have some broader figures in regard to the issue raised by Deputy Smith that I will be sharing with him as well. In regard to the two ways in which this scheme is overseen, it is done both at departmental level and then by the Revenue Commissioners. Regarding the work that happens through the Minister...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: I think I know what the Deputy's question is; I believe she is referring to the report entitled, Consultation on the use of intermediary-type structures and self-employment arrangements-----

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: The Deputy raised that report with me in recent parliamentary questions. I have checked its status and I expect the report will be published very soon and may well provide a framework for, or insights into, dealing with this issue. In regard to the point Deputy Collins put to me, or rather Deputy Smith-----

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: In regard to the point Deputy Smith put to me on the statistics on the operation of the scheme, I have the figures for 2016 and 2017 on the number of companies and films. For example, in 2016 it was 54 companies in respect of 74 films; and in 2017 up to the end of the first quarter, it was 15 companies in respect of 21 films. I have a list of all of the films or productions that received...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: Yes.

Other Questions: Tax Collection (24 Oct 2017)

Paschal Donohoe: I am advised by Revenue that the National Asset Management Agency Act 2009 amended the Taxes Consolidation Act 1997 by providing for an 80% windfall tax on profits or gains arising from disposals of development land to the extent that those gains were attributable to a relevant planning decision. Section 31 of Finance Act 2014 repealed the 80% tax rate on these profits or gains with...

Other Questions: Tax Collection (24 Oct 2017)

Paschal Donohoe: I agree with many of the points made by Deputy Eamon Ryan. The hoarding of land and the lack of supply of land, especially the lack of zoned land and the pricing thereof, lies at the heart of many of the difficulties we are now facing in the housing market. I accept much of the analysis the Deputy has offered on this issue. Where I differ with him on the introduction of a so-called...

Other Questions: Tax Collection (24 Oct 2017)

Paschal Donohoe: As already stated, I agree with much of the analysis relating to the issue. I clearly said that I disagree with the solution the Deputy is proposing. I was clear on that. I disagree because it is my view that bringing in a tax such as that to which the Deputy refers could actually slow the release of land for the development of homes. That is my analysis of the issue. When seeking to...

Other Questions: Stamp Duty (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 9 and 10 together. In my Budget Statement, I announced an increase in the stamp duty rate for all non-residential property transactions, including those relating to agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine, I also announced an extension of consanguinity relief for another three years and...

Other Questions: Stamp Duty (24 Oct 2017)

Paschal Donohoe: This is a tax rate which stood for most of our recent history at 9% before going to 6% and then down to 2%, where it has remained for the past number of years. I assure the Deputy that when I made the decision, I was fully aware, as with any decision, of all of the consequences of what I was putting to the Dáil on budget night. I accept that it causes difficulty, concern and increased...

Other Questions: Stamp Duty (24 Oct 2017)

Paschal Donohoe: The Deputy will have been as aware as I am of the definition of "commercial property". In putting the point to me about relief, he neglected to state that we have brought the relief in at 1% with no age limit for the next three years and that at the end of three years, we will revert to an age limit. The way in which we are looking to maintain the incentive is by having this window in place...

Other Questions: Stamp Duty (24 Oct 2017)

Paschal Donohoe: Regarding Deputy Martin Kenny's points, I am well aware of the gravity of any decision that I make on taxation. I am crystal clear about it. I go back to the broad point that this rate of 2% was one third of what it had been a number of years ago. If we fail to use periods like this to bring rates like that back to a more sustainable level, we create the seeds of a tax system that is...

Other Questions: Brexit Issues (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 11, 15, 40 and 73 together. Like all Government agencies, Revenue is actively engaged in examining a range of scenarios in order to support Ireland's objectives. This work is being undertaken within a whole-of-Government framework led by the Department of Foreign Affairs and Trade. While the precise customs arrangements that will apply after Brexit will...

Other Questions: Brexit Issues (24 Oct 2017)

Paschal Donohoe: We are involved in a negotiation at the moment on an issue that will have a profound effect on our island. With regard to the Deputy's statement about the British Government's view of a customs unions, it is crucial that we gain clarity regarding what its customs policy will be. The Government's view is clear. A customs policy that is as close to the current arrangements as is feasible...

Other Questions: Brexit Issues (24 Oct 2017)

Paschal Donohoe: Of course, the Revenue Commissioners are inputting into and sharing information with our negotiating team regarding the different outcomes that could emerge from the negotiations that are under way relating to Article 50 but political agreement must first be achieved. We are clear that a customs policy that is as close as possible to the current customs unions will minimise any of the...