Results 12,361-12,380 of 32,924 for speaker:Paschal Donohoe

Written Answers — Department of Finance: NAMA Operations (15 Feb 2018)

Paschal Donohoe: The Deputy will be aware that NAMA does not own or manage properties. NAMA acquired loans and the properties securing those loans continue to be managed by their legal owners or, in the case of enforcement, by duly appointed insolvency practitioners, who are responsible for the management of the properties and for decisions regarding future strategy for the properties. Under Section 10 of...

Written Answers — Department of Finance: Tax Exemptions (15 Feb 2018)

Paschal Donohoe: I am informed by Revenue that for gift tax purposes, the relationship between the person who provides the gift (i.e. the disponer) and the person who receives the gift (i.e. the beneficiary) determines the maximum amount known as the “Group threshold” below which gift tax does not arise. There are three separate Group thresholds based on the relationship of the beneficiary...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (15 Feb 2018)

Paschal Donohoe: As the Deputy will be aware, the goal of Strategic Banking Corporation of Ireland (SBCI) is to facilitate and encourage the availability of appropriately priced funding to SMEs on more flexible terms than has been available in recent times on the Irish market. The strategic mission of the Strategic Banking Corporation of Ireland (SBCI) is to deliver effective financial supports to Irish SMEs...

Written Answers — Department of Finance: European Fund for Strategic Investments (15 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 112 and 113 together. I take it that the Deputy is referring to the European Commission - European Investment Bank (EIB) - Member State Special Task Force to develop an Investment project pipeline for the EU in the Autumn of 2014. The purpose of that exercise was to compile a list of potential investment projects across Member States,...

Written Answers — Department of Finance: Pension Provisions (15 Feb 2018)

Paschal Donohoe: The legislation governing the tax treatment of pensions is contained in Part 30 of, and Schedules 23 to 23C to, the Taxes Consolidation Act 1997. In addition, the Revenue Pensions Manual gives general guidance on, among other things, how this legislation is to be applied. Revenue rules in relation to "Increases of Pensions in Payment" are set out in Chapter 6.8 of the Revenue Pensions...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Feb 2018)

Paschal Donohoe: As the Deputy is aware non-performing loans (NPL's) remain at an elevated level across the European banking system and addressing this issue is one of the key priorities for the Single Supervisory Mechanism (SSM). In Ireland significant progress has been made across the banking sector in reducing the level of NPLs since the financial crisis. Despite this progress, the level of NPLs in the...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Feb 2018)

Paschal Donohoe: I can confirm for the Deputy that I have been informed of permanent tsb’s decision to launch a sale process involving a portfolio of non-performing loans. This transaction was confirmed publicly by the bank earlier this week and has been dubbed Project Glas. This decision is being taken to help reduce the bank’s high level of non-performing loans and is a move prompted by SSM...

Written Answers — Department of Finance: Stamp Duty (15 Feb 2018)

Paschal Donohoe: I am advised that, while forecasts for 2019 to 2021 are not available, Revenue provide estimates of receipts for the current Budget year. Revenue’s estimates for Stamp Duty from non-residential property transactions 2018 are based on receipts for previous years, as well as impacts of earlier policy changes and assessment of significant once-off transactions that are not expected to...

Written Answers — Department of Finance: Tax Data (15 Feb 2018)

Paschal Donohoe: The standard rate cut off point increased by €750 in Budget 2018 for all earners, e.g. from €33,800 to €34,550 for single individuals and from €42,800 to €43,550 for married one earner couples. As published in Budget documentation, at the time of Budget 2018 it was estimated that the first year (i.e. 2018) cost of the increase would be €132 million,...

Written Answers — Department of Finance: Government Bonds (15 Feb 2018)

Paschal Donohoe: As the Deputy may be aware, last December the National Treasury Management Agency (NTMA) announced that it planned to issue €14 - €18 billion of Government bonds over the course of 2018. It has already issued €5.25 billion of benchmark bonds so far this year. This is one third of the mid-way point of the €14 - €18 billion range. The volume of new...

Written Answers — Department of Finance: Government Bonds (15 Feb 2018)

Paschal Donohoe: Having already been reduced in size twice, Quantitative Easing (QE) is now scheduled to run until at least September 2018. This was confirmed by the European Central Bank (ECB) at its most recent Governing Council meeting in January, when it stated that net asset purchases under the Programme are intended to run until the end of September 2018, or beyond if necessary. The...

Project Ireland 2040: Statements (20 Feb 2018)

Paschal Donohoe: Last Friday, the Government launched Project Ireland 2040 in Sligo. This includes two core elements: a national planning framework, led by the Minister for Housing, Planning and Local Government, Deputy Eoghan Murphy; and a €116 billion national development plan which sets out an ambitious and strategic vision for Ireland’s investment in public infrastructure over the next...

Written Answers — Department of Finance: Loan Books Purchasers (20 Feb 2018)

Paschal Donohoe: As the Deputy will be aware, most loan agreements include a clause that allows the original lender to sell the loan on to another firm. The Consumer Protection (Regulation of Credit Servicing) Act 2015 (“the 2015 Act”) was introduced to fill the consumer protection gap where loans are sold by the original lender to an unregulated firm. Credit Servicing Firms are typically firms...

Written Answers — Department of Finance: Housing Data (20 Feb 2018)

Paschal Donohoe: AIB had 690 Residential Properties held as Mortgagee In Possession at year end 2017. AIB has worked in collaboration with the Housing Agency throughout 2017 to make all suitable residential assets available for purchase directly by the Housing Agency. At year end a total of 771 properties were offered with 260 of these sold. AIB will continue with this project in 2018.

Written Answers — Department of Finance: Housing Data (20 Feb 2018)

Paschal Donohoe: In relation to Bank of Ireland, as at the end of 2017, the Group had 87 residential properties in possession, which included 20 sale agreed. The majority of the remainder were either on the market for sale or being prepared to go on the market. I understand that the Housing Agency which is under the remit of the Minister for Housing, Planning & Local Government is currently...

Written Answers — Department of Finance: Housing Data (20 Feb 2018)

Paschal Donohoe: I am informed by the Central Bank of Ireland that from its perspective, specifically in relation to the number of residential properties owned by the subject bank (Ulster Bank), under Section 33AK of the Central Bank Act 1942 the Central Bank is not in a position to provide any specific information in this regard. However, on the 14th December 2017 the Central Bank issued the latest...

Written Answers — Department of Finance: Housing Data (20 Feb 2018)

Paschal Donohoe: PTSB has around 1,800 properties in possession of which around 800 are tenanted, buy to let properties returned through the voluntary surrender scheme with rental tenants in situ. It is the Bank’s intention, where possible, to sell tenanted properties with tenants in situ. The bank has met with representatives from the Housing Agency and are in the process of identifying suitable...

Written Answers — Department of Finance: Housing Data (20 Feb 2018)

Paschal Donohoe: As the Deputy is aware one of the priorities set out in the Government’s housing strategy ‘Rebuilding Ireland’ is to ensure that the existing housing stock is used to the maximum degree possible, with a focus on measures to use vacant stock and to renew urban and rural areas. The plan proposes to bring vacant and under-utilised housing stock back into use for both...

Written Answers — Department of Finance: VAT Rebates (20 Feb 2018)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT directive the supply of a security system is liable to VAT at the standard rate, currently 23%. However, if the supply includes the installation of the system then the reduced rate of 13.5% may apply, subject to the two thirds rule, which requires that to...

Written Answers — Department of Finance: Government Bonds (20 Feb 2018)

Paschal Donohoe: The value of Eurosystem holdings under the Public Sector Purchase Programme stood at €1,919,149 million* as at 9 February 2018 *at amortised cost. Source ECB website: . The value of Irish Government bonds held by the Eurosystem, not the ECB, as part of the PSPP is €25,687 million* as at 31 January 2018. *Book value. Source ECB website– . I wish to clarify for the...