Results 18,461-18,480 of 32,983 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services Regulation (2 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 180 and 181 together. The Central Bank's total funding requirement for financial regulation activity is determined on an annual basis by the resources required to discharge its legal responsibilities under domestic and EU law. Section 32D and 32E of the Central Bank Act 1942, as amended, provide that the Central Bank Commission may make regulations relating...

Written Answers — Department of Finance: Living City Initiative (2 Jul 2019)

Paschal Donohoe: I am advised by Revenue that applications for the Living City Initiative are only required to be made to the relevant local authority under the owner-occupier and rented residential elements of the scheme. Applications are not required to be made under the commercial element of the scheme. Based on the most recent information received by Revenue from the City and County Councils, the number...

Written Answers — Department of Finance: Budget Measures (2 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 183 to 185, inclusive, together. The Deputy’s questions relate to the difference between gross and net fiscal space. As I have noted on many occasions, undue focus on the concept of fiscal space, which is calculated based on 'one size fits all' European rules, is inappropriate. Government budgetary policy is formulated based on what is right for the...

Written Answers — Department of Finance: Insurance Costs (2 Jul 2019)

Paschal Donohoe: At the outset, the Deputy should note that 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....

Written Answers — Department of Finance: Employment Investment Incentive Scheme (2 Jul 2019)

Paschal Donohoe: I am informed by Revenue that all Employment and Investment Incentive applications received by Revenue are processed by the date order in which they are received. Revenue advise me that the application in question has been received and examined, and that contact was made with the taxpayer’s representatives by Revenue on 26 June 2019 regarding the outcome of this examination.

Written Answers — Department of Finance: Irish Collective Asset Management Vehicles (2 Jul 2019)

Paschal Donohoe: Undertakings for Collective Investment in Transferable Securities (UCITS) were first introduced in 1985. The UCITS Directive sets out a common set of rules for the cross-border distribution of collective investment schemes via the European Passport. UCITS were designed with the retail consumer in mind, ensuring appropriate levels of protection for investors. The key common aspects of UCITS...

Written Answers — Department of Finance: Irish Real Estate Fund (2 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 189 to 191, inclusive, together. I am advised by Revenue that, with regard to the information included on tax returns filed with Revenue, it is not possible to identify the value of property and real estate investments held by all funds domiciled in the State. The Deputy will be aware that an IREF is an investment undertaking, or a sub-fund, which derives 25%...

Written Answers — Department of Finance: Irish Collective Asset Management Vehicles (2 Jul 2019)

Paschal Donohoe: The Irish Collective Asset-management Vehicle (ICAV), which was introduced in 2015, is a corporate vehicle designed specifically for Irish domiciled and regulated investment funds. All ICAVs must registered and authorised by the Central Bank of Ireland. Alternative Investment Funds(AIFs) are subject to the requirements of the Alternative Investment Funds Directive (AIFMD), which are...

Written Answers — Department of Finance: Irish Collective Asset Management Vehicles (2 Jul 2019)

Paschal Donohoe: The Irish Collective Asset-management Vehicle (ICAV), which was introduced in 2015, is a corporate vehicle designed specifically for Irish domiciled and regulated investment funds. The Central Bank of Ireland is the national competent authority for investment funds in Ireland and in addition acts as the registrar for ICAVs. All ICAVs must registered and authorised by the Central Bank of...

Written Answers — Department of Finance: Credit Union Regulation (2 Jul 2019)

Paschal Donohoe: Credit unions in Ireland are regulated and supervised under a specific piece of legislation - the Credit Union Act, 1997 and regulations issued by the Central Bank, which set out the framework for the registration, regulation and operation of credit unions including detailed governance requirements and prudential requirements on items including reserves, liquidity, member savings and lending....

Written Answers — Department of Finance: Fiscal Policy (2 Jul 2019)

Paschal Donohoe: I am informed by the Revenue Commissioners that cost of reducing the rate of Capital Gains Tax (CGT) can be found in Revenue’s Ready Reckoner at the following link: . For the Deputy's convenience, the following table presents this information. Reduction in the CGT Rate Full Year € Million From 33% to 32% 37 From 33% to 31% 73 From 33% to 28% 183

Written Answers — Department of Finance: Fiscal Policy (2 Jul 2019)

Paschal Donohoe: I am informed by the Revenue Commissioners that the cost of reducing the rate of DIRT can be found in Revenue’s Ready Reckoner at link: . For the Deputy's convenience, the following table presents this information. Reduction in the standard rate of DIRT Full Year € Million From 33% to 31% 5 From 33% to 29% 10 From 33% to 27% 14

Written Answers — Department of Finance: Carbon Tax Yield (2 Jul 2019)

Paschal Donohoe: I am informed by Revenue that the solid fuel carbon tax collected in 2017 and 2018, by the supplied categories, is provided in the following table. Details 2017 Millions € 2018 Millions € Coal to Greenhouse Gas emissions permit holders 1.13 1.39 All other taxable coal 13.55 17.91 Peat Briquettes 4.32 5.96 Milled Peat 0.01 0.01 Other Peat 0.08 0.07 Total 19.09 25.34

Written Answers — Department of Finance: Revenue Commissioners Staff (2 Jul 2019)

Paschal Donohoe: It is estimated that the full year cost of recruiting 40 additional audit and compliance staff at Administrative Officer (AO) level would be approximately €2.6 million. This figure is calculated based on the mid-point of the current Administrative Officer salary scale, which is €41,791 per annum; and in line with guidance on the calculation of staff costs including the...

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Jul 2019)

Paschal Donohoe: The Help to Buy incentive (HTB) is scheduled to expire on 31 December 2019. This is provided for in Section 477C of the Taxes Consolidation Act 1997. As is normal practice, the role and operation of the incentive will be examined in the context of the forthcoming Budget and Finance Bill process. It would be premature at this point to anticipate the outcome of that examination.

Written Answers — Department of Finance: Financial Services Regulation (2 Jul 2019)

Paschal Donohoe: I am informed by the Central Bank that it does not collect the data on these in the way the Deputy requests. The term charge-back can cover many circumstances. Requests for refunds may be handled by the card issuer in accordance with rules established by industry. It may be helpful, however, to outline the legal position in respect of unauthorised and incorrectly executed payments....

Written Answers — Department of Finance: Departmental Reviews (2 Jul 2019)

Paschal Donohoe: In response to the Deputy's question, the following table sets out the live studies, reviews and research currently being undertaken by my Department, including the date by which each is scheduled to be completed. Live studies, reviews and research undertaken or commissioned Date by which each study, review and research is scheduled to be completed Department of Finance History Fellowship...

Written Answers — Department of Finance: Departmental Reports (2 Jul 2019)

Paschal Donohoe: In response to the Deputy's question, the following table sets out the policy documents and strategies published by my Department since 1 January 2016. Policy documents and strategies Year published Ireland for Finance: The strategy for the development of Ireland's international financial services sector to 2025 2019 Guidance Note on Transfer of Banking Business 2019 Revision National...

Written Answers — Department of Finance: Summer Economic Statement (2 Jul 2019)

Paschal Donohoe: The carryover to 2020 of tax measures introduced in Budget 2019 is estimated to be in the region of €0.05 billion. As part of the preparations for Budget 2019, it was estimated that the Exchequer yield from non-indexation of the income tax system would be in the region of €0.57 billion on a full year basis. In light of the publication of the Revenue Commissioners Post-Budget...

Written Answers — Department of Finance: Brexit Preparations (2 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 204 and 209 together. Due to the unprecedented nature of Brexit there is considerable uncertainty regarding what will be its precise impact on the economy as a whole, and on particular sectors. As a result it is challenging to accurately estimate the effect of a disorderly Brexit on the Exchequer borrowing requirement and, consequently, on the general...