Results 13,941-13,960 of 32,961 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Interest Relief Data (21 Jun 2018)

Paschal Donohoe: As the Deputy will be aware, Finance Act 2016 provided for the phased restoration of full interest deductibility in respect of interest on loans used in the purchase, improvement or repair of rented residential property. This is being done over a 5 year period by way of annual increments of 5%, with the first increase from 75% to 80% having taken effect for interest accruing on or after 1...

Written Answers — Department of Finance: Tax Credits (21 Jun 2018)

Paschal Donohoe: I propose to take Questions Nos. 82 and 84 together. Regarding the cost of the full reintroduction of a rental tax credit, I am advised by Revenue that the number who availed of the rent relief tax credit and the associated cost to the Exchequer are available on the Revenue website at the following link: . The credit was available to those paying for private rented accommodation. This...

Written Answers — Department of Finance: VAT Rate Application (21 Jun 2018)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. Under the VAT Consolidation Act 2010, the construction and supply of new residential housing, including renovation and repairs, is charged to VAT at 13.5%. I am advised by the Revenue Commissioners that it is tentatively estimated that introducing a 9% VAT rate...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pay (21 Jun 2018)

Paschal Donohoe: The unwinding of the emergency FEMPI legislation commenced with the Lansdowne Road Agreement 2016-2018 and will be completed under the Public Service Stability Agreement 2018 -2020 (PSSA). In relation to the PSSA, the measures agreed were given legal effect through the enactment of the Public Service Pay and Pensions Act 2017. The PSSA also makes provision for pay increases to be...

Written Answers — Department of Public Expenditure and Reform: State Bodies Data (21 Jun 2018)

Paschal Donohoe: The details requested by the Deputy are set out in the following table. Name of Body Number of positions on the Board Quorum required for meeting of the Board Number of Ministerial Appointee Vacancies on the Board to Date Length of time the Ministerial Appointee vacancy has been present for each vacancy Public Appointments Service 9 5 0 N/A* National Shared Services...

Written Answers — Department of Public Expenditure and Reform: Appointments to State Boards (21 Jun 2018)

Paschal Donohoe: The Public Appointments Service (PAS) conducts the state boards appointments process in accordance with the Guidelines on Appointments to State Boards.  All campaigns are openly advertised on Stateboards.ie for a minimum of 3 weeks.  PAS convenes an Assessment Panel to review the applications and select suitable candidates for submission to the relevant Department for...

Written Answers — Department of Finance: Insurance Costs (26 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...

Written Answers — Department of Finance: IBRC Liquidation (26 Jun 2018)

Paschal Donohoe: Under the Companies Act all costs, charges and expenses properly incurred in the winding up of a company, including the remuneration of the liquidator are payable out of the assets of the company. For the 59 months since the start of the liquidation in February 2013 to 31st December 2017, the net fees earned by the KPMG special liquidation team were €144.9m...

Written Answers — Department of Finance: Tax Strategy Group (26 Jun 2018)

Paschal Donohoe: As the Deputy is aware, the Tax Strategy Group (TSG) is in place since the early 1990’s and chaired by the Department of Finance with membership comprising senior officials and political advisers from a number of Civil Service Departments and Offices. Papers on various options for tax policy changes are prepared annually by officials. The TSG is not a decision making body and the...

Written Answers — Department of Finance: Young Farmers Scheme Eligibility (26 Jun 2018)

Paschal Donohoe: As the deputy has stated in his question, there are certain tax reliefs that are available to young farmers. Under Section 667B of the Taxes Consolidation Act 1997, young farmers who achieve specified educational qualifications are entitled to increased stock relief at a rate of 100%. S. 667B requires that the farmer be under 35 years of age in the year in which they...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (26 Jun 2018)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years.  However, you should be aware that the provision of insurance is a commercial matter for insurance companies,...

Written Answers — Department of Finance: Tax Appeals Commission (26 Jun 2018)

Paschal Donohoe: I am advised by Revenue that it raised tax assessments for the years 2011, 2012 and 2013 against individuals who hold patronage shares that were issued by the entity in question. However all collection has been deferred while a ‘test case’ in regard to the taxability of such shares is being considered by the Tax Appeals Commission. The Tax Appeals Commission, which is an...

Written Answers — Department of Finance: Tax Reliefs Costs (26 Jun 2018)

Paschal Donohoe: As the deputy may be aware, the numbers of those availing of the rent a room relief and the cost to the Exchequer can be found on the cost of tax expenditures report. The report can be located at the following link: https://www.revenue.ie/en/corporate/information-about-revenu e/statistics/tax-expenditures/costs-expenditures.aspx. I am advised by Revenue that it is not possible to estimate...

Written Answers — Department of Finance: Tax Reliefs Costs (26 Jun 2018)

Paschal Donohoe: The Home Renovation Incentive (HRI) is a scheme that allows home owners, landlords and local authority tenants to claim tax relief on qualifying works. The works must be completed by a tax-compliant contractor and be subject to 13.5% VAT. The HRI relief is paid in the form of a tax credit at 13.5% of qualifying expenditure, which can be set against Income Tax evenly over two years,...

Written Answers — Department of Finance: Tax Reliefs Costs (26 Jun 2018)

Paschal Donohoe: Income is classified under a number of categories for taxation purposes and there are distinct rules for each category. As the Deputy notes, rental income from Irish property is taxed under Case V of Schedule D. The rules for Case V provide that landlords can carry forward rental losses for offset against future rental profits, but cannot offset rental losses against other net...

Written Answers — Department of Finance: Tax Deduction Systems (26 Jun 2018)

Paschal Donohoe: In Budget 2018 I introduced a new deduction for pre-letting expenses of a revenue nature incurred on a property that has been vacant for a period of 12 months or more. I introduced this measure in order to encourage owners of vacant residential property to bring such properties into the rental market. A cap on allowable expenses of €5,000 per property applies, and the...

Written Answers — Department of Finance: Tax Deduction Systems (26 Jun 2018)

Paschal Donohoe: The Report of the Working Group on the Tax and Fiscal Treatment of Rental Accommodation Providers (2017) identified the measure suggested by the deputy as a possible medium-term option. The report does not cost the measure but notes that three factors relevant for the costing would be: - the reduction in current income tax revenues; - in the longer term, the claw-back of the deduction as...

Written Answers — Department of Finance: Tax Reliefs Costs (26 Jun 2018)

Paschal Donohoe: To cost the measures requested by the Deputy, certain information would need to be available, including the number of eligible landlords, estimates for the relevant element of the capital costs and the numbers of properties purchased with a tenant in situ. In the absence of this information it is not possible to cost the proposal.

Written Answers — Department of Finance: Living City Initiative (26 Jun 2018)

Paschal Donohoe: The Special Regeneration Areas for the Living City Initiative were designated following consultation with the relevant city councils and an independent review by a third party advisor. Specific qualifying criteria were set down that were required to be taken into account by the city councils when putting forward the proposed Special Regeneration Areas for each city. In particular,...

Written Answers — Department of Finance: Tax Exemptions (26 Jun 2018)

Paschal Donohoe: I propose to take Questions Nos. 108 and 128 together. Section 130 of the Finance Act 1992 (as amended by Section 102 of the Finance Act 2010) introduced, from 1 January 2011, a revised classification system for the assessment of VRT which reflects the categories used for classification of vehicles at European level under various EC Directives.  Passenger Vehicles (EU Category M) and...