Results 19,501-19,520 of 32,999 for speaker:Paschal Donohoe

Written Answers — Department of Finance: VAT Rate Application (16 Oct 2019)

Paschal Donohoe: The standard rate of VAT applies to food supplement products. Shortly after the introduction of VAT, Revenue allowed the zero rate to be applied to certain food supplement products (vitamins, minerals and fish oils). This concessionary approach expanded as the market developed over the years and resulted in the zero rating by Revenue of further similar products, including products other than...

Written Answers — Department of Finance: Real Estate Investment Trusts (16 Oct 2019)

Paschal Donohoe: Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment via a corporate vehicle. A number of amendments...

Written Answers — Department of Finance: Stamp Duty (16 Oct 2019)

Paschal Donohoe: Budget 2020 introduced a measure to impose a stamp duty charge where the acquisition of a (target) company is effected by means of a particular type of scheme of arrangement under Part 9 of the Companies Act 2014, which came into effect on 9 October 2019 by way of financial resolution.  This type of scheme of arrangement involves the (target) company entering into an arrangement whereby...

Written Answers — Department of Finance: Stamp Duty (16 Oct 2019)

Paschal Donohoe: Section 83D of the Stamp Duties Consolidation Act 1999 provides for a refund (through the Residential Development Stamp Duty Refund Scheme) of up to two thirds, where the rate of Stamp Duty paid on the transfer of non-residential land is 6%, and the land is used to develop dwelling units. I am advised by Revenue that the number of persons that have applied for a refund under the Scheme...

Written Answers — Department of Finance: Tax Code (16 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 94 and 95 together. The Retail Export Scheme allows persons who are resident outside the EU and who make purchases of goods in the EU to avail of a refund of the VAT charged on these goods where the goods are exported from the EU by the tourist or traveller within three months of purchase. The UK will become a 3rd country and UK residents will become...

Written Answers — Department of Finance: Fuel Rebate Scheme (17 Oct 2019)

Paschal Donohoe: The Diesel Rebate Scheme (DRS) was introduced in 2013 offering a partial refund to qualifying road operators on the excise paid on diesel when the retail price reaches €1.00 (Vat exclusive) or above. There is a maximum rebate of 7.5 cents per litre when the retail price is €1.25 (Vat exclusive) or above.   In recognition of the challenges...

Written Answers — Department of Finance: Brexit Expenditure (17 Oct 2019)

Paschal Donohoe: The Rainy Day Fund (RDF), which has the statutory title  National Surplus (Exceptional Contingencies) Reserve Fund, is intended to act as a reserve which may be drawn upon under certain circumstances, outlined under section 9(2) of the Act, contingent on Government and Oireachtas approval. One criteria for drawdown is that it can be used to remedy or mitigate the...

Written Answers — Department of Finance: Insurance Industry Regulation (17 Oct 2019)

Paschal Donohoe: As the Deputy is aware dual pricing is the practice of quoting two different price points in different markets for the same product or service.  The “different markets” could be differences between new and existing customers or between different channels for accessing the quoted price (for example, via telephone versus online).  I understand that it is a common...

Written Answers — Department of Finance: Carbon Tax Implementation (17 Oct 2019)

Paschal Donohoe: In my Budget 2020 speech, I announced an increase from €20 to €26 in the carbon tax.  Following the approval of the Dáil, this increase has been applied to Mineral Oil Tax (MOT) rates for mineral oils used as auto-fuels (for cars and trucks) from midnight on 9 October 2019. All other MOT rates remain at their current levels until 1 May 2020 when new rates will take...

Written Answers — Department of Finance: VAT Rate Application (17 Oct 2019)

Paschal Donohoe: Finance Bill 2019, published today, provides for the application of the 13.5% rate of VAT on food supplements. The Deputy will be aware that shortly after the introduction of VAT, Revenue applied a concessionary zero rating to certain vitamin, mineral and fish oil products. As the market developed over the years this treatment resulted in the zero rating by Revenue of further...

Written Answers — Department of Finance: Departmental Correspondence (17 Oct 2019)

Paschal Donohoe: I wish to advise the Deputy that a deferred reply will be issued to him in respect of this Parliamentary Question, in line with Standing Order 42A.

Written Answers — Department of Finance: Tax Reliefs Availability (17 Oct 2019)

Paschal Donohoe: There are a number of tax reliefs available to individuals who are carers. The Home Carer Tax Credit is available to married couples or civil partners that are jointly assessed, where one spouse or civil partner stays at home to take care of a dependent person. Its current value is €1,500. The carer spouse or civil partner may earn up to €7,200 per year without affecting the...

Written Answers — Department of Finance: Tax Code (17 Oct 2019)

Paschal Donohoe: Irish resident companies are obliged to apply Dividend Withholding Tax (DWT) on dividend payments and other distributions made to Irish taxpayers. Dividends are treated as income and are ultimately liable to income tax at the individual’s marginal rate which is the highest rate of income tax to which they are liable. Universal Social Charge (USC) is also chargeable on the payments and...

Written Answers — Department of Finance: Tax Code (17 Oct 2019)

Paschal Donohoe: The flat rate expense (FRE) system is an administrative practice operated by Revenue, where both specific commonality of expenditure exists across an employment category and the statutory requirement for the tax deduction as set out in section 114 Taxes Consolidation Act (TCA) 1997 is satisfied. The purpose of the FRE regime is to ease the administrative burden on Revenue and on employees in...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (17 Oct 2019)

Paschal Donohoe: I am advised by Revenue that it does not accept amounts in settlement that are less than the actual amounts due. However, certain circumstances can arise where a taxpayer does not have the financial capacity to pay the additional liability identified during a compliance intervention and can claim inability to pay. Any inability to pay claim must be supported with clear evidence of the...

Written Answers — Department of Finance: Capital Expenditure Programme (17 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 91 and 92 together. I can confirm that my Department has had no capital projects in the past five years (including the cost of external consultants) in excess of €100 million and nor does it anticipate any to commence in the next five years.

Written Answers — Department of Public Expenditure and Reform: Budget 2020 (17 Oct 2019)

Paschal Donohoe: Significant progress has been made in recent years in reducing the prevalence of poverty in our country.  CSO data shows that the proportion of those living in consistent poverty dropped from 9.0% in 2013 to 6.7% in 2017. CSO data on poverty is available at this link: For most people, employment is the primary path out of poverty and we have created thousands of new jobs, with a record...

Written Answers — Department of Public Expenditure and Reform: Brexit Issues (17 Oct 2019)

Paschal Donohoe: Public Procurement is governed by EU legislation and National rules and guidelines. The aim of these rules is to promote an open, competitive and non-discriminatory public procurement regime which delivers best value for money. In this regard, it is important to point out that the rules underpinning procurement have not changed due to Brexit, as the procurement Directives already...

Written Answers — Department of Public Expenditure and Reform: Departmental Correspondence (17 Oct 2019)

Paschal Donohoe: I wish to advise the Deputy that a deferred reply will be issued to him in respect of this Parliamentary Question, in line with Standing Order 42A.

Written Answers — Department of Public Expenditure and Reform: Capital Expenditure Programme (17 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 99 to 101, inclusive, together. Due to the nature of its role, my Department has had no major capital projects over €100 million funded through its own Vote in the past five years, nor is it expected to have any such projects in the next five years. As part of the ongoing reform of Ireland’s public investment management systems,...