Results 19,881-19,900 of 33,049 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Not to hand, but we will get it for the Deputy if it is available.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: We have not forgotten the Deputy's request. We have a lot of them. We will get back quickly to everybody at the same time.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: I thank the Deputy. If I look at the current operation of the LPT, it has raised approximately €3 billion since it was implemented. It raises approximately €500 million per year. The raising of that €500 million per year has allowed that money to go to local authorities and, in turn, freed up space on behalf of the Exchequer to spend money elsewhere. It has broadened...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Deputy Boyd Barrett now wants a bit of a DAC himself.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: I will respond to the points raised by the Deputy. Before I do so and as we approach the end of the Bill, I wish to signal to the committee that I may table an amendment on Report Stage regarding an issue relating to reliefs for the maritime sector. It will be one of a small number of reliefs I will bring forward. I am considering the matter. I am interested in the film industry. I...

Written Answers — Department of Finance: Mortgage Repayments (7 Nov 2019)

Paschal Donohoe: I have been advised by the Central Bank of Ireland (the Central Bank) that when a consumer takes out a loan from a regulated lender (“the original lender”) it is subject to all the relevant Irish and EU consumer protections. Most loan agreements include a clause that allows the original lender to sell the loan on to another firm. When a loan is sold, the relevant Irish and EU...

Written Answers — Department of Finance: Central Bank of Ireland (7 Nov 2019)

Paschal Donohoe: The Central Bank of Ireland informs me that it ceased the inhouse printing of euro banknotes in April and is now sourcing euro banknotes from third parties in the euro area. The Central Bank has agreed to join the joint tendering group of euro Central Banks for the provision of its annual allocation of euro banknotes. I am informed that these matters have no impact on the supply of cash in...

Written Answers — Department of Finance: Brexit Staff (7 Nov 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. Following a Government decision in December 2018, Revenue’s recruitment programme was accelerated in preparation for a potential no-deal Brexit. I am advised by Revenue that by 31 October 2019 recruitment had been...

Written Answers — Department of Finance: Brexit Data (7 Nov 2019)

Paschal Donohoe: I am advised by Revenue that currently 63,071businesses have an EORI number. 23,026of these businesses obtained an EORI number in 2019. I am further advised that Revenue’s analysis of the 2018 VAT Information Exchange System (VIES) returns, showed that some 94,000 businesses traded with the UK in 2018. Of these 94,000 businesses, approx. 55,500 do not currently have an EORI number....

Written Answers — Department of Finance: Brexit Data (7 Nov 2019)

Paschal Donohoe: It has always been clear from the published studies, including those by my Department, that Brexit, in whatever form it takes, will have a negative impact on our economy and our living standards, and that this impact is significantly greater in the ‘No-Deal’ Brexit scenario. Budget 2020, including the macroeconomic and fiscal outlook which underpins it, was based on the prudent...

Written Answers — Department of Finance: VAT Rate Application (7 Nov 2019)

Paschal Donohoe: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. Under the Directive it is not permissible to differentiate the supply of new residential property for different buyers, such as first-time buyers, for the purpose of applying VAT rates.

Written Answers — Department of Finance: Insurance Industry Regulation (7 Nov 2019)

Paschal Donohoe: I understand that the Deputy is referring to the regulation of motor insurers in Ireland, in particular regarding the way that they conduct business and make decisions regarding consumers. At the outset, it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation in Ireland, including the regulatory...

Written Answers — Department of Finance: Tax Code (7 Nov 2019)

Paschal Donohoe: I propose to take Questions Nos. 56 and 57 together. The FRE allowance regime is an administratively based practice operated by Revenue, where both specific commonality of expenditure exists across an employment category and the statutory requirement for a tax deduction for expenses as set out in section 114 of the Taxes Consolidation Act (TCA) 1997 is satisfied, namely, the expense must be...

Written Answers — Department of Finance: Central Bank of Ireland Data (7 Nov 2019)

Paschal Donohoe: The Central Bank has advised that it does not comment on details of inspections. It carries out its supervision of regulated entities in a number of ways, which includes both desk based and on-site reviews of various activities in regulated entities and is currently undertaking such supervisory work at a sample of non-banks, including Credit Servicing Firms. The Consumer Protection...

Written Answers — Department of Finance: Banking Sector Regulation (7 Nov 2019)

Paschal Donohoe: The revised Payment Services Directive (PSD2) regulates new market players, enhances consumer protection, ensures competition and harmonises payments regulations across Europe. In order to enhance consumer protection and to reduce the risk of fraud, PSD2 requires the use of identification methods known as strong customer authentication (SCA). Strong customer authentication, as provided...

Written Answers — Department of Finance: Banking Sector Data (7 Nov 2019)

Paschal Donohoe: I am advised that the Central Bank does not specifically collect data on online banking usage, such as the requested. Many of the main banks offer online services as standard for current accounts. The Central Bank publishes data in respect of current accounts held by personal consumers and the latest publication, from June 2019, highlights that at the end of 2018 there were 5,345,752...

Written Answers — Department of Finance: Insurance Data (7 Nov 2019)

Paschal Donohoe: Increasing the availability of data in relation to Employer and Public Liability Insurance is a matter which was discussed by the Cost of Insurance Working Group in its Report on the Cost of Employer and Public Liability Insurance (2018). It recommended a number of actions to improve transparency in this area. Amongst these, Recommendation 1 requires the Central Statistics Office (CSO) to...

Written Answers — Department of Finance: Pharmaceutical Sector (7 Nov 2019)

Paschal Donohoe: In 2013, due to the weight of the pharmaceutical sector in Irish GDP at the time, my Department produced a report seeking to assess the impact of a ‘patent cliff’ in the pharmaceutical sector on the Irish economy, arising from a clustering of patented drugs going off patent in quick succession. The report, titled “The Impact of the Patent Cliff on Pharma-Chem Output in...

Written Answers — Department of Finance: Pharmaceutical Sector (7 Nov 2019)

Paschal Donohoe: Ireland has a well-established specialisation in the pharma-chem sector, which makes up a large proportion of total exports and contributes significantly to GDP. As a result of the ‘patent cliff’ in 2013, my Department carried out research to assess its impact on pharma-chem output in Ireland. The research concluded that the ‘patent cliff’ caused a drop in...