Results 11,301-11,320 of 32,864 for speaker:Paschal Donohoe

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: An inquiry may be necessary.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I outlined the rationale for this tax. It is a tax that is supported by the majority in the House. I am not accepting the Deputy's amendment.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I will be brief. On Committee Stage, I outlined my concerns about the approach for which this amendment calls. Moving in this direction would breach the policy that it is not appropriate for travel to and from work to be a tax deductible expense. Regarding the taxation of expenses, the Revenue Commissioners have specific concerns about the practicality of the proposals. Based on the...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: This is a very significant concession within the tax code. The annual cost of the lower VAT rate from 13.5% to 9% is €491 million per year, with a cost per VAT percentage point at €109 million per year. This is an exceptionally significant recognition through the VAT code of a very important sector within our economy. In addition to the costs I have shared, it should also be...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: The broad background to this is that the rate for non-residential commercial property for many years at different times in our economy was 9%. It then moved down to 6% and then to 2%. It went from 6% to 2% because so little activity was happening in any of the different forms of non-residential commercial property to which the rate applied. At 2% it is a quarter of what it has been at...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: That is why I did not indicate to anybody what I was doing and the budget speculation on this measure began only a day or two before budget day, but it was contained in the tax strategy papers I published during the summer. Anybody who says they were not aware this was an option the Government was considering needs to read the papers we publish during the summer much more carefully in...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: On anti-avoidance, I indicated on Committee Stage that I would bring forward an amendment to provide for certain anti-avoidance measures in connection with the upward adjustment to the rate of stamp duty on non-residential property. I will get those measures right because I know what happened in the past and I am determined to ensure this measure is implemented fully in the way that I intend....

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: It is likely we will have to come back just to address that matter because I want to see the issue dealt with fully. On the yield, the first nine months of revenue receipts relating to commercial activity was in the order of €6.4 billion. If I look at the continuation of the level of that yield into next year, I believe the yield I have forecast will be delivered. That being...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I move amendment No. 68:In page 59, between lines 3 and 4, to insert the following:“Repayment of stamp duty where land used for residential development 60.The Principal Act is amended by inserting the following section after section 83C:“83D. (1)(a) In this section⁠—‘appropriate part’, in relation to land, means the whole or, as the case may be, the...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I take the Deputies' points regarding the need for briefing on an amendment of this scale. It is something that I will take account of in future. I introduced the amendment on Report Stage because when I was working through the implementation of the change in non-residential commercial property and considering the consequences, it became apparent that there was potential to feed in to an...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: The roadways will be included in the 25% element.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: One of the reasons I am introducing this measure on Report Stage is the significant engagement we had on this issue with the Department of Housing, Planning and Local Government.

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I move amendment No. 71:In page 65, between lines 13 and 14, to insert the following: “Farm consolidation relief 65. (1) Section 81C of the Principal Act is amended⁠—(a) by substituting “24 months” for “18 months” in each place where it occurs, (b) in subsection (1)(a)⁠—(i) by deleting the definition of “PPS...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: Deputy McGrath has proposed that a report on the options to incentivise charitable donations in the form of bequests and the transfer of shares to charitable organisations be prepared and laid before the Dáil. Capital acquisitions tax is a tax on the beneficiary of a gift or an inheritance. Section 76 of the Capital Acquisitions Tax Consolidation Act 2003 provides that a gift or an...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I move amendment No. 78:In page 72, between lines 11 and 12, to insert the following: “Amendment of Schedule 24A to Principal Act (arrangements made by the Government with the government of any territory outside the State in relation to affording relief from double taxation and exchanging information in relation to tax) 77.Schedule 24A to the Principal Act is amended-(a) in Part 1 by...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (23 Nov 2017)

Paschal Donohoe: I move amendment No. 79:In page 75, between lines 7 and 8, to insert the following:“Report of Minister for Finance81. The Minister for Finance shall, not later than 9 months after the passing of this Act, prepare and lay before Dail Eireann a report on the issues relating to making provision in law for a tax on vacant residential property, the administration and implementation of such...

Written Answers — Department of Finance: Interest Rates (23 Nov 2017)

Paschal Donohoe: The Deputy will be aware that I, as Minister for Finance, have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the banking decisions made by individual lending institutions at any particular time and these are taken by the board and management of the relevant institution. However, it should be...

Written Answers — Department of Finance: Sovereign Debt (23 Nov 2017)

Paschal Donohoe: The Deputy will be aware that we have already repaid early some 81 per cent of our IMF loan. This early repayment, which was completed in 2015, generates significant interest savings. It also reduces the refinancing requirement in the coming years as debt that was originally to mature over the period July 2015 – January 2021 has been replaced with longer-term debt. The...

Written Answers — Department of Finance: VAT Exemptions (23 Nov 2017)

Paschal Donohoe: I have been advised by the Revenue Commissioners that in accordance with the EU VAT Directive and CJEU case law, the provision of children’s or young people’s education and school or university education and the provision of training and development courses of a vocational nature are exempt from VAT. Where a school or academy is providing courses for educational or vocational...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (23 Nov 2017)

Paschal Donohoe: I am advised by Revenue that an application under the Drivers/Passengers with Disabilities Scheme was received from the person concerned on 15 November 2017 and that a Certificate of Approval will issue within the next week.