Results 14,221-14,240 of 32,961 for speaker:Paschal Donohoe

Other Questions: EU Budget Contribution (11 Jul 2018)

Paschal Donohoe: A huge amount of work is being done in this regard. On the Deputy's question on my view of what the future level of contribution should be, if I was to say that here today, I would probably be the first Minister involved in these negotiations to outline a figure in regard to our potential contribution in the future. We are at the very early stage of these negotiations. At this point in...

Other Questions: EU Budget Contribution (11 Jul 2018)

Paschal Donohoe: To respond to the middle part of the Deputy's question, it is precisely because it refers to concerns we have about the funding of CAP, and the desire we have to protect, for example, funding of ERASMUS and research and development, that I am being careful in regard to putting a figure on a future Irish contribution. We are not engaged in a dialogue in this regard; this is a negotiation, as...

Other Questions: Corporation Tax Regime (11 Jul 2018)

Paschal Donohoe: We have already done that. As the Deputy will be aware, a review of the Irish corporate tax system was undertaken by Mr. Seamus Coffey, an independent expert, and was published in 2017. It was open, the public were able to make submissions to it, as were stakeholders, and the report was made public and published on the Department of Finance website. The terms of reference for that review...

Other Questions: Corporation Tax Regime (11 Jul 2018)

Paschal Donohoe: We are already investing in our universities. Project Ireland 2040, the plan published by the Government earlier in the year, includes the plan for increasing capital investment in our universities and institutes of technology for the next decade. Has the Deputy seen what is happening at the DIT campus at Grangegorman? That is public capital investment. Has he seen the decision recently...

Other Questions: Corporation Tax Regime (11 Jul 2018)

Paschal Donohoe: Yes I am. We understand the reasons why there has been a further change in corporate tax receipts for this year and we are increasingly clear on what our likely end point will be for 2018. We need to take care, however, in assuming that will continue into 2019, 2020 and beyond. We have seen very significant shifts in corporate tax receipts over the past number of years and I will not be...

Other Questions: Employment Investment Incentive Scheme (11 Jul 2018)

Paschal Donohoe: The employment and investment incentive, provided for in Part 16 of the Taxes Consolidation Act 1997, is an incentive whereby individuals who invest in certain companies obtain income tax relief on the amount invested. A number of conditions must be complied with. First, relief can only he granted to investors after ordinary shares have issued. Second, companies in which the investment can...

Other Questions: Employment Investment Incentive Scheme (11 Jul 2018)

Paschal Donohoe: I accept the Deputy's points. My objective is to have all of that work complete well in advance of the budget and to look at any points that need to be considered. As I am sure the Deputy is aware, we have made a number of changes at an operational level to deal with issues that have been raised on the operation of the scheme. We have brought in a new form because the original form was too...

Other Questions: Employment Investment Incentive Scheme (11 Jul 2018)

Paschal Donohoe: I take the points made by the Deputies. I outlined the changes that have been made to the scheme since March in terms of the new form, the screening, the new telephone line and also the introduction of a case tracking process. We will have the work completed on the review of the scheme in advance of the finance Bill and I will take on board the concerns of the Deputies as I do that work.

Other Questions: European Semester Process (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 70 and 81 together. The European Commission published the 2018 country-specific recommendations, CSRs, on 23 May 2018 as part of the European semester process. Similar to last year, Ireland received three recommendations. The first deals with the effectiveness of public finances and expenditure, the reduction of Government debt and broadening the tax...

Other Questions: European Semester Process (11 Jul 2018)

Paschal Donohoe: I understand the plan contains a ten-year plan regarding higher capital investment in climate change, plans to modernise our supply of energy and deliver against a climate agenda about which the Deputy has spoken. It is fair to say that meeting the objectives we have will be very challenging but in terms of what we are doing about it, I have supported the Minister, Deputy Naughten, in...

Other Questions: European Semester Process (11 Jul 2018)

Paschal Donohoe: I did not answer the question about the purchase of carbon credits but will do so now, so Deputy Barry should not assume an answer I have not yet given. I have not yet made any decisions about the purchase of carbon credits. This is something I will have to do with the Minister, Deputy Denis Naughten, in the context of the coming budget. On the Deputy's point on the affordability of...

Other Questions: European Semester Process (11 Jul 2018)

Paschal Donohoe: On long-term arrears, many of our banks have engaged in a process of reducing the value of mortgage debt. To answer Deputy Pearse Doherty's question, I will meet the CEOs of all the banks before the end of July in the context of setting up the banking standards board for Ireland.

Written Answers — Department of Finance: Tax Code (11 Jul 2018)

Paschal Donohoe: An Irish tax resident person is subject to Irish income tax on their world-wide income, including income from a foreign source such as fees from performances abroad. If the performance fees are paid in a jurisdiction with which Ireland has a Double Taxation agreement, relief may be granted for foreign tax paid by way of a credit against any Irish tax that may be due. In the case of a...

Written Answers — Department of Finance: Tax Compliance (11 Jul 2018)

Paschal Donohoe: I am aware of the recent report by the GUE/NGL group in the European Parliament. As the Deputy is aware, I am not at liberty, nor is it appropriate for me, to discuss the tax affairs of individual companies. I would first note that Revenue, as a statutorily independent body, monitors the tax affairs of taxpayers and takes a proactive approach to the identification of, and response to,...

Written Answers — Department of Finance: Universal Social Charge Review (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 73 and 105 together. The Programme for Government commitment to the phasing out of the USC was specified to be as part of a wider medium-term process of income tax reform which would maintain the breadth of the tax base, while reducing excessive tax rates for middle income earners and limiting the benefits for high earners. We have made steady progress in...

Written Answers — Department of Finance: Community Banking (11 Jul 2018)

Paschal Donohoe: My Department and the Department of Rural and Community Development published a Report on Local Public Banking pursuant to the Programme for Partnership Government commitment to “thoroughly investigate the German Sparkassen model for the development of local public banks that operate in well-defined regions”. Specifically, the Report examined a proposal from Irish Rural...

Written Answers — Department of Finance: Motor Insurance Coverage (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 75 and 86 together. I am aware of the concerns raised by the Deputies. However, you should note that neither the Minister for Finance, the Central Bank nor I 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...

Written Answers — Department of Finance: Brexit Negotiations (11 Jul 2018)

Paschal Donohoe: The Government are negotiating to avoid a hard border on the island of Ireland. Co-ordination of the whole-of-Government response to Brexit is being taken forward through the cross-Departmental coordination structures chaired by the Department of Foreign Affairs and Trade. This includes ‘no deal’ contingency planning. This planning provides base line scenarios for the impact of...

Written Answers — Department of Finance: Economic Growth (11 Jul 2018)

Paschal Donohoe: Recent economic indicators have generally been positive, indicating that the recovery is continuing in a sustainable manner. Preliminary real GDP growth of 7.8 per cent was recorded for 2017, but this is heavily distorted by activity in the multinational sector. Modified domestic demand, which adjusts for distortions in the data, is up 4.0 per cent in 2017. The strength of domestic...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 78 and 106 together. The threat that fuel fraud and the illicit tobacco trade pose to legitimate business, to consumers and the Exchequer is clear and I am advised by Revenue that taking action against this criminality continues to be a priority for them. Steps taken by Revenue to combat the illegal fuel trade include the introduction of stringent new...