Results 11,041-11,060 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Public Expenditure and Reform: Freedom of Information Legislation (9 Nov 2017)

Paschal Donohoe: Section 27 of the Freedom of Information (FOI) Act 2014 Act relates to fees and charges. Among the key reforms of the FOI Act was the removal of the requirement to pay up-front fees for making FOI requests to public bodies and the significant reduction in the cost of applying for internal reviews and appeals to the Information Commissioner. In addition, in relation to non-personal...

Written Answers — Department of Finance: Economic Growth (9 Nov 2017)

Paschal Donohoe: Projections published by my Department in Budget 2018anticipate growth in the overall pay bill (both private and public combined) of 5.6 per cent in 2018. This comprises growth in average pay of 3.1 per cent and employment growth of 2.3 per cent. Pay bill growth is projected to average 5.2 per cent per annum thereafter, with average pay expected to grow at around 3.3 per cent per annum. ...

Written Answers — Department of Finance: Stamp Duty (9 Nov 2017)

Paschal Donohoe: I am advised by Revenue that stamp duty is chargeable on the transfer of a farm from a landowner to a company, whether or not the company is controlled by the landowner. The company acquiring the farm is treated as a separate legal entity to the individual. The amount chargeable to stamp duty is the market value of the assets being transferred. The rate of stamp duty applying to the...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (9 Nov 2017)

Paschal Donohoe: I am advised by Revenue that in accordance with the legislation governing the operation of the Help to Buy (HTB) scheme, one of the criteria to be met to qualify for the scheme is that the loan-to-value ratio in respect of a claim shall not be less than 70 per cent. As the loan to value ratio for the person concerned is less than 70 per cent, the application does not meet the conditions...

Written Answers — Department of Finance: Tracker Mortgage Examination (9 Nov 2017)

Paschal Donohoe: As the Deputy is aware, the Central Bank is independent in the performance of its duties in the supervision of regulated financial service providers and it is working to ensure that the Tracker Mortgage Examination is completed as soon as possible. Details of the Framework for Conducting the Tracker Mortgage Examination are available at the following link: It should be noted that...

Written Answers — Department of Finance: NAMA Debtor Agreements (9 Nov 2017)

Paschal Donohoe: As set out in my reply to Question No. 111 of 3 October 2017, NAMA may provide funding to its debtors and receivers to protect and enhance their assets so as to optimise their income-producing potential and disposal value. This is in accordance with section 10 of the NAMA Act which states that NAMA is required to protect or enhance the value of its acquired assets and to obtain the best...

Written Answers — Department of Finance: Company Liquidations (9 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 47 to 50, inclusive, together. I am informed by the Central Bank that it has been actively engaged with Custom House Capital Limited (Custom House Capital) since 2009, which led to a series of restrictions being imposed on the firm. In July 2011, on instruction from the Central Bank, Custom House Capital was prevented from carrying out any transactions or...

Written Answers — Department of Finance: Mortgage Resolution Processes (9 Nov 2017)

Paschal Donohoe: I am informed by the Central Bank that their Residential Mortgage Arrears and Repossessions Statistics show that at end-June 2017, 120,398 PDH mortgage accounts were restructured. The breakdown by entity type is as follows: Banks 111,156 accounts, Retail Credit Firms 6,695 accounts and unregulated loan owners 2,547 accounts. Similarly, 23,623 BTL accounts were restructured at end-June....

Written Answers — Department of Finance: Mortgage Resolution Processes (9 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 52 and 53 together. The Central Bank has informed me that the Company referred to is not an entity regulated or supervised by the Central Bank of Ireland (the “Central Bank”).  Data on mortgages owned and currently being restructured by non-bank entities (which includes Retail Credit Firms and unregulated loan owners) is not published...

Written Answers — Department of Finance: Mortgage Interest Relief Application (9 Nov 2017)

Paschal Donohoe: I am informed by Revenue that the mortgage interest relief in respect of the loans to which the Deputy is referring was correctly applied by the various lenders for the years in question. The cases to which the Deputy referred were relatively complex cases, with multiple loans and lenders in recent years.  When providing confirmation to the borrowers in question regarding the...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (9 Nov 2017)

Paschal Donohoe: I announced in Budget 2018 that, in fulfilment of a Programme for Government commitment, mortgage interest relief for owner-occupiers would be extended on a tapered basis to end-2020 for the remaining recipients of the relief. The process of phasing out Mortgage Interest Relief for homeowners has been under way since 2009. Relief has expired for qualifying mortgages taken out prior to...

Written Answers — Department of Finance: Tax Reliefs Eligibility (9 Nov 2017)

Paschal Donohoe: I am advised by Revenue that section 664 of the Taxes Consolidation Act 1997 provides relief from income tax for certain income from long-term leasing of agricultural land. The relief is available, subject to a maximum limit, where farm land is leased to a qualifying lessee for a period of 5 years or more. In order to qualify as a qualifying lessee for the purpose of the relief, the lessee...

Written Answers — Department of Finance: Film Industry Tax Reliefs (9 Nov 2017)

Paschal Donohoe: Section 481 of the Taxes Consolidation Act 1997 provides relief in the form of a corporation tax credit related to the cost of production of certain films. The credit is granted at a rate of 32% of the lowest of: (i) eligible expenditure; (ii) 80% of the total cost of production of the film; (iii) €70,000,000. * The minimum amount that must be spent on the production is...

Written Answers — Department of Finance: Tracker Mortgage Examination Data (9 Nov 2017)

Paschal Donohoe: The Central Bank has advised that, due to statutory confidentiality requirements, the Bank may not publicly disclose much of its supervisory engagement with individual firms. In particular, the Central Bank can, generally speaking, only disclose such information in summary or aggregate form so that individual firms cannot be identified. The Central Bank has to be careful that any public...

Written Answers — Department of Finance: Banking Operations (9 Nov 2017)

Paschal Donohoe: Officials in the Department of Finance have received the following responses from the banks in relation to the Deputy’s question: AIB: AIB’s businesses in Isle of Man and Jersey were established in 1977 and 1981 respectively. AIB became the owner of Anglo Irish Bank Corporation (International) PLC (now known as AIB ISL (Limited) on 24 February 2011. Arising from the...

Written Answers — Department of Finance: Banking Sector Data (9 Nov 2017)

Paschal Donohoe: Officials in the Department of Finance have received the following responses from the banks in relation to the Deputy’s question: AIB: Arising from the recapitalisation and restructuring of Allied Irish Banks, p.l.c. the banking operations of AIB ISL Limited and AIB CI Limited were wound down by 30 November 2013. PTSB: Permanent TSB plc had two operations in the Isle of Man.  The...

Written Answers — Department of Finance: Banking Sector Data (9 Nov 2017)

Paschal Donohoe: As the Deputy will understand, the information requested is not held within my Department. The banks in which the State is a shareholder operate on an independent, commercial basis and I as Minister do not have a role in their operations. AIB have provided me with the following response to the Deputy's query: "AIB ceased banking operations in Jersey and the Isle of Man by 30 November...

Written Answers — Department of Finance: Tax Data (9 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 62, 63, 65 and 66 together. As respects question No. 62, I am advised by Revenue that section 851A of the Taxes Consolidation Act (TCA) 1997 imposes a statutory obligation on Revenue to maintain the confidentiality of information provided by a taxpayer, or obtained by Revenue from a taxpayer, for the purposes of the various taxation codes. As the...

Written Answers — Department of Finance: State Banking Sector Regulation (9 Nov 2017)

Paschal Donohoe: As I indicated earlier this week I have discussed these disclosures with the Revenue Commissioners who are the most appropriate authority to examine matters raised in the media arising from the so called 'Paradise Papers' and the Chairman has assured me they would be monitoring the revelations as they arose. I would also call on the ICIJ to share any information it has with Revenue. I...

Written Answers — Department of Public Expenditure and Reform: Community Employment Schemes Supervisors (9 Nov 2017)

Paschal Donohoe: In considering the particular matter regarding entitlements for community service supervisors, regard must be had to the costs and precedent of such an arrangement were one to be created. A scoping exercise is currently being finalised by officials in this Department and should be completed later this year. Due to unforeseen circumstances, it was necessary to postpone the meeting scheduled...