Results 12,221-12,240 of 32,924 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (6 Feb 2018)

Paschal Donohoe: As announced in Budget 2018, a Sugar Sweetened Drinks Tax (SSDT) is to apply to the first supply in the State of sugar sweetened drinks. Primary legislation for the SSDT was included in the Finance Act 2017 and is subject to a commencement order.   The commencement of the SSDT is subject to approval from the European Commission on State aid grounds. In the first instance,...

Written Answers — Department of Finance: Tracker Mortgage Examination (6 Feb 2018)

Paschal Donohoe: The Central Bank has advised that, based on its most recent progress update report on the Tracker Mortgage Examination which was published on 20 December 2017 and on certain updated data that the Bank provided to the Joint Oireachtas Committee on Finance, Public Expenditure and Reform and Taoiseach on January 18 last, lenders have included c.33,700 customers...

Written Answers — Department of Finance: European Central Bank (6 Feb 2018)

Paschal Donohoe: All lenders in Ireland engage on an ongoing basis with their Joint Supervisory Team (JST) on their lending and recovery activity, this would include supervision of the use of loan restructuring solutions such as split mortgages. JSTs are an effective means of cooperation between the ECB and the national supervisors in overseeing banking practices in supervised...

Written Answers — Department of Finance: Financial Services Regulation (6 Feb 2018)

Paschal Donohoe: The issues raised by Deputy are quite distinct therefore I will respond to the insurance part of the question first and then address the bank account and mortgage part of the question. In relation to the issue of motor insurance for returning emigrants, Recommendation 6 of the Report on the Cost of Motor Insurance aims to address the problems faced by those returning to Ireland. ...

Written Answers — Department of Finance: Central Bank of Ireland (6 Feb 2018)

Paschal Donohoe: I am informed by the Central Bank of Ireland that it has an ongoing engagement with the Financial Conduct Authority (FCA) on a range of issues. However, the Central Bank is not in a position to comment on individual cases or the specifics of its engagement with the FCA.

Written Answers — Department of Finance: Tax Code (6 Feb 2018)

Paschal Donohoe: The use of tax incentives and reliefs, ideally in accordance with the tax expenditure guidelines published by my Department, is one of a number of potential approaches that can be adopted to deal with the issues mentioned by the Deputy. Recognising the serious challenge we face in terms of housing supply, the Government has prioritized the development and implementation of the Rebuilding...

Written Answers — Department of Finance: Motor Insurance (6 Feb 2018)

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...

Written Answers — Department of Finance: Revenue Commissioners Staff (6 Feb 2018)

Paschal Donohoe: I am advised by Revenue that purchases made by online shoppers are usually imported either by express couriers or via the postal system. In the case of the express couriers, the carrier make the necessary import declarations and pay duty and VAT, where applicable, to Revenue. In respect of imports via the postal system, the parcels are produced by the postal authorities to...

Written Answers — Department of Finance: VAT Rate Application (6 Feb 2018)

Paschal Donohoe: On 18 January 2018 the European Commission published a proposal on the Simplification of VAT rates, which allows greater freedom for Member States in setting VAT rates in line with the move to the definitive destination based system of VAT.  The proposal provides that Member States would continue to apply a standard VAT rate of at least 15% as well as the option to operate two reduced...

Written Answers — Department of Finance: Banking Sector Regulation (6 Feb 2018)

Paschal Donohoe: The legal and regulatory protection framework sets out a number of measures to protect consumers who are taking out a mortgage and it seeks to ensure that lenders are transparent and fair in all their dealings with borrowers.  For example, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 provides that mortgage lenders must...

Written Answers — Department of Finance: Mortgage Applications Data (6 Feb 2018)

Paschal Donohoe: Prior to offering a residential mortgage loan to a consumer borrower, mortgage lenders are required to carry out a credit worthiness assessment and to offer mortgage credit only where the result of the assessment indicates that the consumer is likely to meet his/her obligations in the manner required by the credit agreement. The mortgage lender is also obliged to ensure that the procedures...

Written Answers — Department of Finance: Motor Insurance Regulation (6 Feb 2018)

Paschal Donohoe: At the outset, I wish to inform the Deputy that I have no plans to legislate on this particular issue.  Neither I nor the Central Bank 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 the risks they are willing to accept.  However, it has been brought to my...

Written Answers — Department of Finance: VAT Rate Application (6 Feb 2018)

Paschal Donohoe: The European Commission published a proposal on 18 January 2018 which aims to simplify VAT rating. Under existing VAT rating rules, Member States must apply a standard VAT rate of at least 15% and may apply up to two reduced VAT rates of 5% or more to a set list of socially inclined goods and services.  Member States may also retain historic VAT treatment that applied before 1...

Written Answers — Department of Finance: Banking Sector Regulation (6 Feb 2018)

Paschal Donohoe: I am advised by the Central Bank that securitisation activity, including that of ‘home loans’, is currently subject to a variety of regulatory requirements in various pieces of EU sectoral legislation. The main securitisation-specific requirements generally relate to the prudential treatment of investments in securitisation by certain financial firms and investor transparency...

Written Answers — Department of Finance: Revenue Commissioners Data (6 Feb 2018)

Paschal Donohoe: I am informed that Revenue publishes the Annual Average Euro Reference Exchange Rates, as supplied by the Central Bank, annually by way of an eBrief. The annual average sterling to euro exchange rate for 2017 was GBP £1 = €1.14068. Where income is received on a particular date, the taxpayer may choose to use the daily exchange rate for that date, as supplied by the Central Bank....

Written Answers — Department of Finance: Tax Code (6 Feb 2018)

Paschal Donohoe: I am informed by Revenue that, in accordance with section 114 Taxes Consolidation Act 1997, where an employee: - is necessarily obliged to incur expenses of travelling (and subsistence relating to that travel) in the performance of the duties of his or her employment; and - is reimbursed by his or her employer in respect of such travel and subsistence on the basis of vouched receipts, such...

Written Answers — Department of Finance: VAT Rebates (6 Feb 2018)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. The supply of oxygen is liable to VAT at the standard rate, currently 23%, and as such I am constrained by the requirements of EU law from applying any rate of VAT lower than the standard rate to the sale of this product. However, the EU VAT Directive provides for particular categories of...

Written Answers — Department of Finance: Banking Sector Data (6 Feb 2018)

Paschal Donohoe: The Central Bank of Ireland utilises a three-stage banking authorisation assessment process, the first two stages being part of a pre-application assessment, followed by submission of a formal application. It should be noted that it is the European Central Bank which determines whether a banking authorisation should be granted under section 9 of the Central Bank Act, 1971 (general banking...

Written Answers — Department of Public Expenditure and Reform: National Lottery Funding Data (6 Feb 2018)

Paschal Donohoe: The National Lottery was established under the National Lottery Act 1986 and continues in accordance with the National Lottery Act 2013. A competition for the award of the twenty year licence to operate the National Lottery took place between May and October 2013. On 27 February 2014 the Minister for Public Expenditure and Reform granted the new licence to Premier Lotteries Ireland (PLI)...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions (6 Feb 2018)

Paschal Donohoe: An issue which has been under discussion by the Community Sector High Level Forum relates to community employment supervisors and assistant supervisors who have been seeking, through their union representatives, the allocation of Exchequer funding to implement a Labour Court recommendation relating to the provision of a pension scheme. At the April meeting of the Forum, my Department...