Results 18,661-18,680 of 32,983 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: The figures the Deputy is referring to are produced by the Central Statistics Office rather than the Department. We will have a look to see if we can identify what the Deputy is referring to and give him a more up-to-date version of it. To the best of my knowledge, over the past two years, the Department of Finance has not published sectoral attributions of profits and I think it is more...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance (3 Jul 2019)

Paschal Donohoe: The most important graph in the intersection between politics and economics at the moment concerns the share income has of national income. What has happened over recent decades explains many of the challenges we now have in politics. Therefore, I am well aware of the analysis the Deputy is referring to, the work that has been done comparing the rate of return on capital with the rate of...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (4 Jul 2019)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a Fuel Grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Government Expenditure (4 Jul 2019)

Paschal Donohoe: My Department produces a full set of economic and fiscal forecasts on a bi-annual basis, in the spring Stability Programme Update (SPU) and in the autumn Budget. The calculations of the available budgetary package in the Summer Economic Statement (SES) 2019 are anchored to the forecasts set out in the SPU published in April. It is important to point out that the fiscal forecast set out...

Written Answers — Department of Finance: Departmental Offices (4 Jul 2019)

Paschal Donohoe: The Facilities Management Unit of my Department arrange for the provision of accommodation on behalf of staff of both the Department of Finance and Department of Public Expenditure and Reform. The position is that bicycle parking spaces are available for staff who wish to use them in respect of all six buildings occupied by the two Departments. With regards to lockers, these are available...

Written Answers — Department of Finance: Ministerial Transport (4 Jul 2019)

Paschal Donohoe: The car used for official duties is a Skoda Superb with a diesel engine.

Written Answers — Department of Finance: Tax Reliefs Data (4 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 76, 86 and 87 together. I am informed by the Revenue Commissioners that the Ready Reckoner at link: (page 14) shows the estimated cost of increasing the life time limit for revised Entrepreneur Relief. For the Deputy's convenience, this information is presented in the following table. Proposed Lifetime Limit € million Full Year Cost €...

Written Answers — Department of Finance: Universal Social Charge (4 Jul 2019)

Paschal Donohoe: I am advised by Revenue that the costs of reducing (or removing) the non-PAYE 3% Universal Social Charge (USC) surcharge as outlined by the Deputy are shown in the following table. It is estimated that the proposed change would affect approximately 23,570 taxpayer units. - First Year Cost €m Full Year Cost €m Reduction of USC surcharge from 3% to 2% 23.4 41.8 Reduction of...

Written Answers — Department of Finance: Tax Reliefs Data (4 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 78 and 79 together. I am advised by Revenue that it is tentatively estimated, without taking account of the potential new employees that may qualify for the Special Assignee Relief Programme (SARP) scheme as a result of the reduced limits, the cost to the Exchequer in terms of income tax foregone, based on those who availed of the relief in 2016, would be:...

Written Answers — Department of Finance: Tax Code (4 Jul 2019)

Paschal Donohoe: It is assumed that the Deputy is referring to dividend income from Irish resident companies. I am advised by Revenue that based on tax returns and the yield from Dividend Withholding Tax for 2016, the replacement of all Income Tax, USC and PRSI on dividend income with a flat rate of taxation of 20% is tentatively estimated to be a loss in the region of €95 million. On the same basis,...

Written Answers — Department of Finance: Tax Deduction Systems (4 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 81 and 82 together. I am advised by Revenue that it is not possible to estimate the cost of expanding the FED scheme to an extra country as there are no data available on the number of taxpayers that might qualify to claim the deduction, or how this might vary depending on what additional country was chosen or the ability of the taxpayers concerned to absorb...

Written Answers — Department of Finance: Employment Investment Incentive Scheme Data (4 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 83 and 84 together. In order to ensure compliance with Article 21 of the Group Block Exemption Regulation ("GBER")(Commission Regulation N°651/2014), the 30% share ownership restriction on connected persons was removed in Finance Act 2017. GBER requires that risk finance aid schemes such as the EII should be restricted to independent private investors...

Written Answers — Department of Finance: Tax Data (4 Jul 2019)

Paschal Donohoe: Start Up Refunds for Entrepreneurs (SURE) provides a refund of tax paid in the previous six tax years to those previously in PAYE employment, or recently unemployed, where they invest funds into a new company set up by them. I am advised by Revenue that there is no statistical basis on which to estimate the cost of broadening the scheme to self-employed taxpayers as it is not possible to...

Written Answers — Department of Finance: VAT Registration (4 Jul 2019)

Paschal Donohoe: VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. The Directive provides that VAT registration thresholds may only be raised by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation. Our VAT thresholds were increased to their current values, €37,500 for services and...

Written Answers — Department of Finance: Tax Credits (4 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 89 to 93, inclusive, together. I am advised by Revenue that statistical information in respect of the Research & Development (R&D) credit is available at link; for all years up to 2017. Regarding Question 89, the estimated cost of increasing the credit to 30% for SMEs (defined here as companies with less than 250 employees) is in the region of...

Written Answers — Department of Finance: European Central Bank (4 Jul 2019)

Paschal Donohoe: The primary objective of the European Central Bank (ECB) is to maintain price stability within the euro area by implementing monetary policy which is consistent with an inflation rate of below, but close to, 2 per cent over the medium-term. In this regard, the euro area flash headline inflation rate in June was stable at 1.2 per cent. The ECB projects that inflation will remain below target...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (4 Jul 2019)

Paschal Donohoe: I propose to take Questions Nos. 95 to 100, inclusive, together. The Key Employee Engagement Programme (KEEP) came into effect on 1 January 2018. The aim of the incentive is to support SMEs in Ireland in competing with larger enterprises to recruit and retain key employees, by way of a targeted share option programme. KEEP provides for an exemption from income tax, USC and PRSI on...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (4 Jul 2019)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a Fuel Grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (4 Jul 2019)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a Fuel Grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Help-To-Buy Scheme Expenditure (4 Jul 2019)

Paschal Donohoe: The Help to Buy incentive (HTB) was announced in Budget 2017 and backdated to apply from 19 Jul 2016. I am advised by Revenue that the total cost of the incentive to 31 May 2019, the most recent month for which data are available, is in the order of €177.5 million. I am also advised by Revenue that the cost of the scheme by each year of its operation is as follows: Year Cost...