Results 15,501-15,520 of 32,961 for speaker:Paschal Donohoe

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: I understand that Revenue contacts PAYE taxpayers to remind them that there is a four-year time limit for claiming additional tax credits and reliefs. In late 2017, Revenue issued 135,188 letters to all PAYE taxpayers who had not claimed additional credits or reliefs from 2013 to 2017, reminding them that they may be entitled to make claims on or before 31 December 2017. An additional 291...

Finance Bill 2018: Report Stage (Resumed) (22 Nov 2018)

Paschal Donohoe: In accordance with Standing Order 163, I ask the House to agree that the Ceann Comhairle instruct the clerk of the Dáil to make a formal correction in the Bill. On page 52, line 42, the phrase "of any company other than—" and the following clauses (I) and (II) on top of page 53 should be aligned to paragraph level as the text is a continuation of paragraph (b) and not...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Order for Report Stage [Private Members] (22 Nov 2018)

Paschal Donohoe: I move: "That Report Stage be taken now." I welcome the opportunity to speak to this Private Members' Bill. I gave a commitment to Deputy Michael McGrath that my Department and I would work with him on his proposed draft Bill to find a way in which the policy objectives of the Bill could be delivered. On Committee Stage, a significant amount of discussion took place on the Bill and since...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Report and Final Stages [Private Members] (22 Nov 2018)

Paschal Donohoe: I thank Deputies Kelleher, Fitzmaurice and McGuinness for the additional points they raised. I will deal with some of them, as well as the matters that Deputy Michael McGrath raised. Deputy Fitzmaurice raised a particular point on mortgage to rent and the participation of certain forms of homes within it. I was not aware of the issue he raised and I will follow up to see can I help with...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Report and Final Stages [Private Members] (22 Nov 2018)

Paschal Donohoe: I am just responding to the questions the Deputies have put to me.

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Report and Final Stages [Private Members] (22 Nov 2018)

Paschal Donohoe: I thank the Acting Chairman. As I have said, I have met the commitments I offered to Deputy Michael McGrath earlier in the year. Extending the regulatory reach of the Central Bank to the fundamental owners of the debt can make a difference. I remind the House that the credit servicing firms themselves have always been regulated here in Ireland.

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Report and Final Stages [Private Members] (22 Nov 2018)

Paschal Donohoe: I will make two final points because the amendments are technical in nature and I hope we will be able to pass them quickly. I do not want my comments to be misinterpreted. What Deputy McGuinness just said about the tracker mortgage issue is correct; the money that was being returned to people was their money, full stop, end of story. The fact is that more than €500 million has been...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Report and Final Stages [Private Members] (22 Nov 2018)

Paschal Donohoe: I wish to thank my officials, who have put considerable work into co-operating with Deputy Michael McGrath on this Bill. I am keen to emphasise one objective we have not touched on tonight. We have all talked about the different objectives that Deputies have relating to Irish banks. I have another objective that has not been mentioned this evening. I want the Irish taxpayers' money...

Written Answers — Department of Finance: VAT Rate Increases (22 Nov 2018)

Paschal Donohoe: The 9% VAT rate was introduced as part of the Jobs Initiative from July 2011 to December 2013 and was aimed at boosting tourism and the creation of additional jobs in that sector. From Budget 2014 it was decided to retain the 9% rate to support the increased number of jobs, and latterly, due to the weakness in Sterling following Brexit. It was for these reasons that I retained the 9% rate...

Written Answers — Department of Finance: Carbon Tax Yield (22 Nov 2018)

Paschal Donohoe: Solid Fuel Carbon Tax was commenced in May 2013 at a rate of €10 per tonne of carbon dioxide emitted when combusted, and was increased to €20 per tonne in 2014. Approximately 75% of solid fuel carbon tax yield relates to coal. Annual net receipts for the tax amounted to €23.5m in 2015, €24.4m in 2016 and €19.1m in 2017. As of end October, receipts to...

Written Answers — Department of Finance: Insurance Fraud (22 Nov 2018)

Paschal Donohoe: As the Deputy is aware, recommendation 26 of the Report on the Cost of Motor Insurancecalls for An Garda Síochána to explore the potential for further cooperation between it and the insurance sector in relation to insurance fraud investigation. In this regard, one measure which the Working Group considered as part of the Report was the establishment of a dedicated team within An...

Written Answers — Department of Finance: Banking Sector (22 Nov 2018)

Paschal Donohoe: As I have previously informed the House, I intend to bring forward heads of a Central Bank (Amendment) Bill for Government approval in Quarter 1 2019. In that regard it is my intention that the proposed legislation will identify the legislative changes that are required to implement a customer centric culture and to enhance individual accountability. I have long been on the record as...

Written Answers — Department of Finance: Brexit Staff (22 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 17 and 27 together. I am advised that Revenue is actively engaging in the Interdepartmental work on Brexit coordinated by the Department of An Taoiseach and the Department of Foreign Affairs and Trade. As the Deputies are aware, in July 2018 the Government made a number of decisions in relation to preparations for a ‘Central Case...

Written Answers — Department of Finance: Help-To-Buy Scheme (22 Nov 2018)

Paschal Donohoe: Earlier this year, I commissioned an independent Cost Benefit Analysis (CBA) of the Help to Buy (HTB) incentive. Following a competitive tender process, Indecon International Economic Consultants were appointed to carry out this analysis. The report of the CBA was published at Budget time in the Department of Finance Report on Tax Expenditures and is available on my Department’s...

Written Answers — Department of Finance: EU Budget Contribution (22 Nov 2018)

Paschal Donohoe: As the Deputy will be aware, the European Commission’s proposal for the next Multiannual Financial Framework (MFF) 2021-2027 was published on 2ndMay 2018. I welcome the publication of the proposals which marks the start of an important debate on the future of the EU budget. The proposals come at a time of great change and adjustment for the EU; with new priorities (including migration,...

Written Answers — Department of Finance: Insurance Industry (22 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 20 and 26 together. The Central Bank of Ireland has advised me that it was notified by the Danish Financial Supervisory Authority on 7 March 2018 that it had ordered Alpha Insurance A/S to cease writing new business including renewal of existing contracts and business with immediate effect. It was further notified on 9 May 2018 that the liquidators of the...

Written Answers — Department of Finance: Credit Unions (22 Nov 2018)

Paschal Donohoe: The Government has a clear policy to support the strategic growth and development of credit unions delivering the comprehensive recommendations set out in the Commission on Credit Unions Report and the Credit Union Advisory Committee (CUAC) report in 2016, both of which involved extensive stakeholder engagement. CUAC remains an important advisor to me on strategic issues facing the sector. ...

Written Answers — Department of Finance: Tax Reliefs Application (22 Nov 2018)

Paschal Donohoe: Revenue’s role is to ensure compliance with tax legislation and to collect the correct tax due based on taxable income determined in accordance with the relevant tax legislation. In computing taxable income, the legislation provides for deductions in respect of various tax credits and reliefs including losses incurred both current and carried forward, subject to conditions. These...

Written Answers — Department of Finance: Social and Affordable Housing Funding (22 Nov 2018)

Paschal Donohoe: The fiscal rules to which Ireland is subject have direct application through a number of EU regulations and through the Fiscal Responsibility Act 2012. Any change to these regulations would have to follow the normal EU approach, beginning with a proposal from the Commission before consideration by Member States and the European Parliament. The fiscal rules provide some scope for...

Written Answers — Department of Finance: Insurance Costs (22 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 24 and 28 together. The Minister for Finance is responsible for the development of the legal framework governing financial regulation. Neither he 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,...