Results 19,241-19,260 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (26 Sep 2019)

Paschal Donohoe: I am advised by Revenue that their review of the flat rate expenses regime is ongoing and that it is intended to have the review completed by the end of 2019.  The Deputy will be aware from my previous replies on this matter that Revenue confirmed an implementation date of 1 January 2020 in respect of any changes that may be made to the flat rate regime, to ensure they do not impact on...

Written Answers — Department of Finance: International Programmes (26 Sep 2019)

Paschal Donohoe: The flows of illicit capital out of developing countries represent diversions of resources from their most efficient uses in developing economies and are likely to adversely impact domestic resource mobilization and hamper sustainable economic growth. Ireland’s new international development policy ‘A Better World’ commits the Irish government to strengthening domestic...

Written Answers — Department of Finance: Mortgage Book Sales (26 Sep 2019)

Paschal Donohoe: The Deputy will be aware that the reduction in the level of non-performing loans, or NPLs, across European banks is a major priority for the banking regulator, the SSM. The Irish banks have made huge progress in this regard since the height of the crisis. According to the Central Bank of Ireland, the average NPL ratio of the domestic Irish banks was 7.0% at end-June 2019 having stood at more...

Written Answers — Department of Finance: Budget Submissions (26 Sep 2019)

Paschal Donohoe: My department has so far received in excess of 250 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that a submission from the Association referred to has been received. However, as the Deputy will be aware, it is not the practice of the Minister for...

Written Answers — Department of Finance: Carbon Tax Implementation (26 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Ministerial Meetings (26 Sep 2019)

Paschal Donohoe: I wish to advise the Deputy that due to the level of detail being requested in the question, it is not possible to provide acurately the information sought in the time available for reply. I have therefore instructed my officials to contact the Deputy's office with a view to providing the information requested, where possible, through alternative means.

Written Answers — Department of Finance: Economic Growth (26 Sep 2019)

Paschal Donohoe: On the back of another strong year for the economy in 2018, growth in the first half of this year has moderated but remains positive with GDP growth of 6 ½ percent in year-on-year terms. Indeed as a barometer of how well our economy is performing, there is no story more positive than the one emanating from our labour market. The strong growth in employment over the last number of years...

Written Answers — Department of Finance: Economic Growth (26 Sep 2019)

Paschal Donohoe: As published in the Stability Programme Update 2019, my Department has forecast GDP growth of 3.9 per cent this year and 3.3 per cent in 2020. This growth is expected to be broad based, with both domestic demand and net exports making positive contributions. Indeed, modified domestic demand is forecast to grow by 4.0 per cent this year and by 3.3 per cent next year. Indeed as a barometer...

Written Answers — Department of Finance: Brexit Supports (26 Sep 2019)

Paschal Donohoe: The Department of Finance has been to the forefront in assessing the impact of Brexit on our economy, commissioning and publishing a number of studies, both before and following the referendum. In addition, regular updates of my Department’s Macro-Economic forecasts take account of the impact of Brexit. The UK is one of Ireland’s most important trading partners. In 2017 the...

Written Answers — Department of Finance: Brexit Preparations (26 Sep 2019)

Paschal Donohoe: Since the referendum result in 2016, we have been taking steps to build up the resilience of the economy so that we have the capacity to deal with adverse economic shocks. This includes building up our fiscal buffers – by balancing our books, reducing our debt burden, and establishing the Rainy Day Fund. The Government is continuing to work to prepare our economy for the...

Written Answers — Department of Finance: Brexit Preparations (26 Sep 2019)

Paschal Donohoe: Since the referendum result in 2016, we have been taking steps to build up the resilience of the economy so that we have the capacity to deal with adverse economic shocks. This includes building up our fiscal buffers – by balancing our books, reducing our debt burden, and establishing the Rainy Day Fund. Overall our economy is in good shape and is expected to grow this year and...

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

Paschal Donohoe: The Irish insurance sector is diverse, comprising life, non-life and reinsurance firms providing a range of products and operating across a number of geographical markets. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation of the sector. This framework is mainly governed by the EU Solvency II Directive, which provides for...

Written Answers — Department of Finance: Economic Policy (26 Sep 2019)

Paschal Donohoe: The period of robust economic growth has continued this year. GDP growth of 6 ½ per cent in the first half of the year and the relatively low rate of unemployment which stands at just over 5 per cent support this assessment. However it is also clear that there are dark clouds on the horizon, with the external environment continuing to deteriorate, and the risk of an adverse shock to the...

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

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. EU VAT law allows Member States to retain certain zero rates for goods and services which were expressly covered in their national VAT legislation on 1 January 1991. As there was no such legislative provision for sport and leisure activities in place on 1...

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

Paschal Donohoe: I am aware of the issues facing many sports and leisure bodies when it comes to the affordability and availability of insurance. Unfortunately, neither I, nor the Central Bank of Ireland, can compel any insurer to provide cover or to provide it at a particular price. This position is reinforced by the EU framework for insurance which expressly prohibits Member States from adopting rules which...

Written Answers — Department of Finance: Carbon Tax Yield (26 Sep 2019)

Paschal Donohoe: The total annual net receipts from carbon tax are set out in the following table. Year Total Net Receipts € 2010 223,084,537 2011 298,231,058 2012 353,954,210 2013 388,376,990 2014 385,361,885 2015 418,996,237 2016 430,247,558 2017 419,603,362 2018 431,131,923 Total 3,348,987,760 Carbon tax receipts to end August 2019 were approximately €281,800,000, some...

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

Paschal Donohoe: Ireland's Corporation Tax Roadmap includes a commitment to amend Ireland's transfer pricing regime in Finance Bill 2019. This commitment stems from recommendations made in the Review of Ireland’s Corporation Tax Code by Mr Seamus Coffey. One of the recommendations in that Review is that consideration be given to extending transfer pricing rules to SMEs, having regard to whether...

Written Answers — Department of Finance: Mortgage Data (26 Sep 2019)

Paschal Donohoe: Data provided by the Central Bank indicates that mortgage switching (defined, for the purposes of this response, as loans issued by one lender to refinance an existing mortgage with another lender) in Ireland peaked in 2006, when approximately 27,000 mortgages switched provider. Between 2009 and 2014, switching decreased significantly, reflecting subdued lending activity in the overall Irish...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions Legislation (26 Sep 2019)

Paschal Donohoe: Section 52 (6) and (7) of the Public Service Pensions (Single Scheme and other Provisions) Act 2012 imposes a limit, or ‘benefit cap’, on the total amount of pension benefits that can accrue where an individual has been a member of more than one public service pension scheme. As a result of a number of issues that have arisen in relation to the benefit cap and the...

Ceisteanna (Atógáil) - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Estimates Process (1 Oct 2019)

Paschal Donohoe: Managing expenditure within allocations is a key responsibility of every Department and Minister. A number of measures are in place to ensure that expenditure and budgetary targets are being achieved on an ongoing basis. There is regular reporting to Government on expenditure levels and expenditure profiles, which are published every month. The drawdown of funds from the Exchequer is...