Results 17,281-17,300 of 32,983 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services Regulation (13 Mar 2019)

Paschal Donohoe: Crowdfunding is currently an unregulated industry in Ireland. In my Budget 2019 speech, I announced that my Department will begin work, in conjunction with the Central Bank of Ireland, on the national regulation of crowdfunding in Ireland. With regulation, crowdfunding has the potential to play an important role in broadening competition in the SME finance market, beyond the banking...

Written Answers — Department of Finance: Brexit Issues (13 Mar 2019)

Paschal Donohoe: The Government has always been clear that Brexit, in whatever form it takes, will have a negative economic impact on Ireland and that the implications for our economy will be disproportionate relative to those for the rest of the EU. The harder the Brexit the more negative the impact will be on our economy. While my Department’s central economic and fiscal planning scenario...

Written Answers — Department of Public Expenditure and Reform: Property Ownership (13 Mar 2019)

Paschal Donohoe: Where a company is dissolved without having disposed of its interest in a property, by virtue of Section 28 of the State Property Act 1954, the interest of the company in the property becomes vested in the Minister for Public Expenditure and Reform. Pursuant to Section 31 of the State Property Act 1954, the Minister has a discretionary power to waive his interest. In this case, the...

Written Answers — Department of Public Expenditure and Reform: Departmental Funding (13 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 130 and 131 together. My Department or the bodies under its aegis have not funded any projects in the counties in question. Due to the nature of its role, the purpose of projects undertaken by my Department is to deliver greater effectiveness and efficiency across the Civil and Public Service. While all counties ultimately benefit from my...

Written Answers — Department of Finance: Customs and Excise Staff (26 Mar 2019)

Paschal Donohoe: In September 2018, the Government granted approval in principle for the phased recruitment of an additional 600 Revenue staff to meet the challenges posed by Brexit.  Budget 2019 provided Revenue with the funding needed for 270 of the additional 600 staff to be recruited during 2019 to manage an orderly UK withdrawal. Following a Government decision to give greater priority to the...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman Administration (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 176 and 237 together. Under section 15(4) of the Financial Services and Pensions Ombudsman Act 2017 the Ombudsman may appoint staff to his office and determine their duties with the approval of the Minister for Finance and the consent of the Minister for Public Expenditure and Reform. The Financial Services and Pensions Ombudsman (FSPO) commissioned a...

Written Answers — Department of Finance: Employment Data (26 Mar 2019)

Paschal Donohoe: The Department of Finance’s most recent economic forecasts which cover the period 2018-2023 were published in Budget 2019. The table below details the employment growth projections from these forecasts. Overall, employment growth is forecast to be approximately 2.0 per cent on average per annum over the period from 2019 to 2023. Employment is forecast to grow by 2.8 per cent in 2019...

Written Answers — Department of Finance: VAT Rate Application (26 Mar 2019)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply.  In accordance with the Directive, defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. Annex III of the Directive specifies categories of goods and services in respect of which Member States may apply a reduced rate of VAT but as...

Written Answers — Department of Finance: Tracker Mortgage Examination (26 Mar 2019)

Paschal Donohoe: In its capacity as independent regulator of regulated financial service providers and in line with its mandate to ensure that the best interests of consumers are protected, the Central Bank of Ireland launched an industry wide examination of tracker mortgage related issues.  Under this Tracker Examination, lenders were required to conduct a complete review of their...

Written Answers — Department of Finance: Revenue Commissioners (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 180 and 181 together. In relation to question 12819, it is unclear what particular needs the Deputy is referring to.  I am advised by Revenue that there are a number of measures in the tax code that are aimed at persons with disabilities or particular needs. A high-level overview of some of the substantive provisions across the various tax heads is set...

Written Answers — Department of Finance: Revenue Commissioners (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 182 and 183 together. I am advised that designated bodies are required to submit a Suspicious Transaction Report (STR) to the Revenue Commissioners and An Garda S?ochána where they have a suspicion that a money laundering offence may have been committed. Tax evasion is a predicate offence for money laundering. In cases where the STR relates to other...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 184 and 185 together. The Help-to-Buy incentive was introduced in Finance Act 2016 to assist first-time buyers in purchasing or building a new-build property to live in as their home. To qualify for the incentive, a first-time buyer must have signed a contract to purchase a home on or after 19 July 2016 and on or before 31 December 2019. In...

Written Answers — Department of Finance: Small and Medium Enterprises (26 Mar 2019)

Paschal Donohoe: The “Review of the 9% VAT rate: Analysis of Economic and Sectoral Developments”, published in July 2018 alongside the VAT Issues Tax Strategy Group paper, assesses the 9% VAT rate’s relevance, cost, value-for-money, impact to date and the estimated impact were it to be removed. The Department’s Review shows that employment and profitability in hairdressing...

Written Answers — Department of Finance: Corporation Tax Regime (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that a breakdown of Corporation Tax receipts, on a sectoral basis up to 2017, is published at the following link: . Data for 2018 is not yet available and will be finalised in the coming months.   It is not possible from Revenue records to separately identify receipts from companies based in the Dublin docklands area. However, if these companies are conducting...

Written Answers — Department of Finance: VAT Rate Increases (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 188, 189 and 196 together. The background to this issue is that VAT legislation does not apply the zero rate of VAT to food supplements but shortly after the introduction of VAT Revenue applied a concessionary zero rating to certain vitamin, mineral and fish oil food supplement products. As the market developed over the years this treatment resulted in the...

Written Answers — Department of Finance: Revenue Commissioners Audits (26 Mar 2019)

Paschal Donohoe: Revenue has advised me that the person in question was the subject of a compliance intervention in respect of their 2016 tax liabilities. The issues raised during the intervention were subsequently dealt with by the person and fully resolved. Revenue informed the person that the intervention was concluded on 5 September 2018. Revenue has also confirmed that the person manually filed their...

Written Answers — Department of Finance: VAT Rate Application (26 Mar 2019)

Paschal Donohoe: A property developer is liable for VAT on sales of developed residential property and is entitled to recover the VAT incurred in the development of that property. However, under the EU VAT Directive, there is no scope to allow VAT deductibility in relation to the development of properties that are to be put to a tax-exempt use. The VAT Consolidation Act 2010 provides that the letting of...

Written Answers — Department of Finance: Home Building Finance Ireland Remit (26 Mar 2019)

Paschal Donohoe: In the first instance I would like to acknowledge the stressful circumstances which the owners and residents of buildings face when defects occur in their homes. HBFI was established late last year as a supply based measure to help address as shortage of new housing in the State. I have always been clear that HBFI was to be established on a commercial basis and that its activities would...

Written Answers — Department of Finance: Motor Insurance Costs (26 Mar 2019)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group was established in July 2016 and undertook an examination of the factors contributing to the increasing cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses. The initial focus of the Working Group was the issue of...

Written Answers — Department of Finance: State Pensions (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that both the State Contributory Pension and the State Non-Contributory Pension are chargeable to income tax, but not to Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). Where a person is in receipt of both a private pension and a State pension, any income tax that may be due in respect of the State pension is effectively collected by...