Results 13,881-13,900 of 32,961 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Expenditure (19 Jun 2018)

Paschal Donohoe: The total amount paid per project to the company Mediavest since 1 January 2016 to date is detailed in the following table. Year Project Amount 2017 We engaged Mediavest to place an advertorial with the Sunday Business Post to publicise the Department winning a National Training Award from the Irish Institute of Training and Development. €2,870.54

Written Answers — Department of Finance: Tax Yield (19 Jun 2018)

Paschal Donohoe: I am advised by Revenue that incomes from various sources, such as rental income, are combined in the tax assessment calculation and it is therefore not possible to identify the resulting tax yield from any one particular income source. Revenue have also advised me that the tax returns up to and including the 2015 tax year did not require rental income to be returned in a manner that...

Written Answers — Department of Finance: Tax Reliefs Availability (19 Jun 2018)

Paschal Donohoe: A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax expenditures published on budget day 2016. The review may be found at the following link: () The review concluded that: "... analysis of the scheme using the principles laid down by the...

Written Answers — Department of Finance: Data Protection (19 Jun 2018)

Paschal Donohoe: I plan to publish the legislation in relation to the national claims information database in the coming weeks, subject to approval by the Government. In drafting the Bill, my Department has kept in mind the need to ensure that data protection requirements are met. In broad terms, the Bill as drafted will require the Central Bank to collect data from insurance undertakings for the purpose...

Written Answers — Department of Finance: Public Consultation Process (19 Jun 2018)

Paschal Donohoe: My Department has carried out 56 public consultations since 2011, and a table providing the details is set out below. The majority of the consultations did not incur an explicit cost as part of the work carried out by staff in my Department in relation to public consultations. Such work forms part of the Department’s regular staff costs and is not itemised separately. Three...

Written Answers — Department of Finance: Motor Insurance Costs (19 Jun 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 position is...

Written Answers — Department of Finance: NAMA Accounts (19 Jun 2018)

Paschal Donohoe: I wish to advise the Deputy that, as outlined in its recent 2017 Annual Report, NAMA expects to return a surplus to the State in the region of €3.5bn, subject to prevailing market conditions, when it completes its work. This is an increase of €500m from the previous estimate in its 2016 Annual Report, and a testament to the progress that NAMA has made in achieving its primary...

Written Answers — Department of Finance: Tax Code (19 Jun 2018)

Paschal Donohoe: Finance Act 2000 introduced the gross roll-up taxation regime for investments in certain investment undertakings and life assurance policies. Generally the regime provides that there is no annual tax on income or gains arising within the investment. Instead, tax applies at an investor level. Finance Act 2006 introduced the concept of deemed disposals every 8 years in relation to these...

Written Answers — Department of Finance: Stability and Growth Pact (19 Jun 2018)

Paschal Donohoe: The preventive arm of the Stability and Growth Pact endeavours to ensure that fiscal policy leads to sustainable public finances over the short and longer term. A key component is that Member States attain a country-specific Medium Term budgetary Objective (MTO) which is set in structural terms. For Ireland this is currently a structural deficit of 0.5 per cent of GDP. Assessment of...

Written Answers — Department of Finance: Government Bonds (19 Jun 2018)

Paschal Donohoe: I have been advised by colleagues in the Central Bank of Ireland that the Eurosystem does not publish details of the holdings of individual bonds under the Public Sector Purchase Programme (PSPP). The cumulative monthly net purchases of Irish Government bonds by the Eurosystem (ECB and Central Bank of Ireland) as part of the Public Sector Purchase Programme (PSPP) stood at €27,614...

Written Answers — Department of Finance: Motor Insurance Costs (19 Jun 2018)

Paschal Donohoe: The Deputy will be aware that the Cost of Insurance Working Group’s Report on the Cost of Motor Insurancewas published in January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, which are set out in an Action Plan in the Report. Work has been ongoing on the implementation of the recommendations by the relevant Government...

Written Answers — Department of Finance: Tax Yield (19 Jun 2018)

Paschal Donohoe: The tax on sugar-sweetened drinks commenced on 1 May 2018 and applies to water and juice based drinks with a sugar content of 5 grams per 100 millilitres or above. The rationale behind imposing a tax on sugar-sweetened drinks is to help tackle obesity by reducing the consumption of liable water and juice based drinks. Milk products are outside the scope of the tax on the basis that...

Written Answers — Department of Finance: VAT Rate Application (19 Jun 2018)

Paschal Donohoe: VAT is guided by the EU VAT Directive, with which Irish VAT law must comply. In Ireland, certain sanitary products, such as sanitary towels and tampons, are charged to VAT at the zero rate. Article 110 of the VAT Directive allows Member States to apply a zero rate of VAT to goods or services that are social in nature, that benefit the final consumer and which applied at a zero rate on and...

Written Answers — Department of Finance: Pension Levy (19 Jun 2018)

Paschal Donohoe: I propose to take Questions Nos. 158 and 159 together. The Pension Scheme Levy was introduced in 2011. For the years 2011, 2012 and 2013 the rate was 0.60% of the scheme assets. For the year 2014 the rate was 0.75% of the assets and for the year 2015, the final year of the levy, the rate was 0.15%. Under the legislation, the payment of the levy was treated as a necessary expense of a...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2018)

Paschal Donohoe: I am aware of the concerns raised by the Deputy in relation to the financial strain which the cost of insurance is placing on some community and voluntary organisations. However, the Deputy should note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation and that neither I nor the Central Bank of Ireland can interfere in the...

Written Answers — Department of Finance: Banking Sector Regulation (19 Jun 2018)

Paschal Donohoe: Under Part IIIC of the Central Bank Act 1942 (as amended) (“the Act”), the Central Bank may hold an inquiry to determine whether or not a financial service provider is committing or has committed a suspected prescribed contravention. The Central Bank may also hold an inquiry to determine whether or not a person concerned in the management of a regulated financial service...

Written Answers — Department of Finance: Tax Avoidance (19 Jun 2018)

Paschal Donohoe: I understand that the Deputy is alluding to report "The Missing Profits of Nations" by G. Zucman, T. Tørsløv and L. Wier, that examines attribution of profits by mutlinationals around the world. In the first instance, I reject any assertion that Ireland is a tax haven. The report does not provide any definition of a tax haven and appears to assert that Ireland, and many other...

Written Answers — Department of Public Expenditure and Reform: Departmental Contracts (19 Jun 2018)

Paschal Donohoe: All public works projects that are delivered under the Exchequer-funded element of the Government's capital plan must be procured in accordance with the provisions laid down in the Capital Works Management Framework (CWMF).  The CWMF is mandated by circular and was developed to assist contracting authorities in meeting their ongoing procurement requirements.  It provides an...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions (19 Jun 2018)

Paschal Donohoe: I refer the Deputy to my answer to PQ No. 214 (ref. 23422/18) on the 29 May 2018.

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions (19 Jun 2018)

Paschal Donohoe: I understand from HR Shared Services, who received the application for a preserved pension from the individual concerned, that the application is being processed and that the pension lump sum will be paid shortly and the pension commenced with appropriate arrears paid.