Results 14,261-14,280 of 32,961 for speaker:Paschal Donohoe

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

Paschal Donohoe: The Tax Appeals Commission (TAC) was established in March 2016 as part of the reform of the Finance (Tax Appeals) Act 2015. The vision for the new commission was that it would provide enhanced arrangements for an independent, efficient, well-defined, clear and transparent system for appeals relating to decisions of the Revenue Commissioners. The Tax Appeals Commission (TAC) has received...

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

Paschal Donohoe: While the issue of "End of Life" Vehicles does not fall under the remit of my Department, I am aware that there is a motor industry group which is highlighting what they consider to be a link between the number of cars being scrapped annually and the lack of availability or the higher price of motor insurance for such cars. In this respect, Minister of State Michael D’Arcy TD met...

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

Paschal Donohoe: Capital allowances for intangible assets were introduced in Finance Act 2009 to support the development of the knowledge economy and the provision of high quality employment. When the capital allowances were introduced, to ensure that a measure of tax remained in charge annually, a restriction was provided to cap the amount of income that the allowances could be used against in any year at...

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

Paschal Donohoe: The Deputy should note that in my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank can interfere in the 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 is...

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

Paschal Donohoe: Ireland’s economic recovery has been underpinned by a significant improvement in competitiveness. The latest figures from the Central Bank of Ireland show that Ireland's real harmonised competitiveness indicator, a widely used measure of competitiveness in Europe, has improved by approximately 19 per cent between its peak in 2008 and February 2018. The restoration of Irish...

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

Paschal Donohoe: I should stress at the outset that the Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches. The Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the Boards and management of the institutions. ...

Written Answers — Department of Finance: Proposed Legislation (11 Jul 2018)

Paschal Donohoe: I intend to introduce rainy day fund legislation very shortly. The Bill has been drafted, and I am now seeking the Government's approval for its publication and presentation to Dáil Éireann. It is my intention to commence second stage on this Bill at the beginning of the Autumn session, at which time I look forward to discussing my policy approach and how it takes account of...

Written Answers — Department of Finance: Mortgage Lending (11 Jul 2018)

Paschal Donohoe: As Minister for Finance, I have no role in the decision making processes of credit institutions and what products any such institutions wish to provide. This is a commercial matter for each individual credit institution having regard to the relevant legal and regulatory requirements which apply. The Deputy may, however, be interested to note that the Central Bank of Ireland, as part of...

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

Paschal Donohoe: I understand that the Deputy is referring 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. Firstly, 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 countries,...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that in order to qualify for the capital gains tax exemption announced in Budget 2018 for land and buildings held for a minimum period of 4 years, the land or building must have been acquired in the period commencing on 7 December 2011 and ending on 31 December 2014. There are a range of factors that influence the sale of commercial property,...

Written Answers — Department of Finance: Ministerial Meetings (11 Jul 2018)

Paschal Donohoe: The Managing Director of the IMF, Christine Lagarde, visited Dublin on 25-26 June to attend a conference, ‘The Euro at 20’, organised by the IMF together with the Central Bank of Ireland which also hosted the event. I met with Ms Lagarde on Monday 25th June during the course of this visit. The meeting did not have a formal agenda. However, in the course of the meeting we...

Written Answers — Department of Finance: Stability and Growth Pact (11 Jul 2018)

Paschal Donohoe: The creation of the rainy day fund forms part of the Government’s policy to stabilise the public finances and increase the State’s resilience to external economic shocks. The rainy day fund is intended to be used to address severe events as opposed to the normal fluctuations within the economic cycle. However, severe impacts of the economic cycle could be addressed by the rainy...

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

Paschal Donohoe: As the Deputy will be aware the fourth National Economic Dialogue took place on June 27th and 28th this year. This dialogue plays an integral part in the preparations for Budget 2019 and provided an opportunity to consider how best to optimise available resources in the interests of all citizens. The aim is to foster discussion on how to best sustain and strengthen the recovery while...

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

Paschal Donohoe: It is my understanding that the Deputy is referring to Revenue’s ‘Corporation Tax 2017 payments and 2016 returns’ report published in April 2018. I recognise that Corporation Tax in Ireland is concentrated, with a high proportion of receipts, approximately 80%, coming from the multinational sector. The share of net corporation tax receipts provided by the “Top...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (11 Jul 2018)

Paschal Donohoe: Indecon Economic Consultants are currently carrying out a review the Employment and Investment Incentive (EII). I expect that the report will be completed within the next month or so. The findings of the review, when concluded, will, amongst other factors, inform any decisions I may make on the future configuration of the incentive in the context of Budget 2019 and otherwise. The scope of...

Written Answers — Department of Finance: State Assets (11 Jul 2018)

Paschal Donohoe: I am advised by The National Treasury Management Agency (NTMA) that total Exchequer cash/liquid asset balances stood at €23.4 billion at end-June. They also advise that the benchmark Irish Government 4.5% Treasury Bond 2018matures in October and has a current outstanding balance of €8.8 billion.

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

Paschal Donohoe: I propose to take Questions Nos. 153, 157, 159 and 162 together. 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...

Written Answers — Department of Finance: House Prices (11 Jul 2018)

Paschal Donohoe: My Department continues to monitor developments in the property market, including trends in property prices, on an ongoing basis. According to the Central Statistics Office's Residential Property Price Index, national property prices increased by 0.7 per cent between March and April, and by 13 per cent on an annual basis. At the regional level, residential property prices in the 12 months to...

Written Answers — Department of Finance: Bank Charges (11 Jul 2018)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities. I, as Minister for Finance, have no statutory role in relation to the charges applied by credit institutions. Section 149 of the Consumer Credit Act 1995, as amended, requires that credit institutions, prescribed credit institutions and bureaux de change must make a submission to the Central Bank if they wish to...

Written Answers — Department of Finance: Credit Availability (11 Jul 2018)

Paschal Donohoe: Supporting the availability of finance for SMEs, including smaller enterprises, is a cornerstone element of Government policy in our efforts to strengthen the economy and create jobs. Government is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. To facilitate this the Government has developed a number...