Results 20,081-20,100 of 33,392 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Yield (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 186 to 188, inclusive, together. I am advised by Revenue that the estimated yields associated with the introduction of both a tapering of credits together with an additional rate of USC at the various levels and rates proposed by the Deputy are provided in the following tables: Tapering of PAYE and Earned Income Tax Credits plus additional USC rate, at...

Written Answers — Department of Finance: Tax Code (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 190 and 192 together. I am advised by Revenue that a Ready Reckoner is available on the Revenue Statistics webpage at www.revenue.ie/en/corporate/information-about-revenue/statis tics/ready-reckoner/index.aspx. This Ready Reckoner shows a wide range of detailed information, including changes to the Capital Acquisitions Tax rate (page 15) and changes to...

Written Answers — Department of Finance: Tax Reliefs Data (15 May 2018)

Paschal Donohoe: I am advised by Revenue that based on 2017 data, the yield to the Exchequer arising from the abolition of tax relief for private health insurance premiums is tentatively estimated to be in the order of €350 million. The estimated yield to the Exchequer from reducing the current rate of tax relief as proposed by the Deputy would be as follows; Proposed Cap 5% 10% 12% 15% 18% 19%...

Written Answers — Department of Finance: Tax Exemptions (15 May 2018)

Paschal Donohoe: It is unclear what specific changes to the legislation the Deputy is referring to. However, I can confirm that the Department has not conducted any modelling in regard to tax exempt income from gambling in casinos.

Written Answers — Department of Finance: Universal Social Charge Abolition (15 May 2018)

Paschal Donohoe: The loss to the Exchequer from abolishing USC would depend upon a number of factors, inter alia, the year in which it would end, labour market developments, and so on. In 2018, the Universal Social Charge (USC) is projected to raise approximately €3.7 billion in Exchequer receipts terms. This represents approximately 17% of total expected income tax receipts and approximately 6% of...

Written Answers — Department of Finance: Universal Social Charge Exemptions (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 195 to 200, inclusive, together. I am advised by Revenue that the estimated costs of increasing the exemption threshold for USC to the levels set out by the Deputy are given in the following table: USC Exemption Threshold € First Year €m Full Year €m 19,698 48 57 20,176 54 63 20,280 55 65 20,384 56 66 20,592 58 69 20,800 61 72...

Written Answers — Department of Finance: Research and Development Supports (15 May 2018)

Paschal Donohoe: I am advised by Revenue that on the basis of claims in respect of refundable research and development tax credit for the tax year 2016, the latest year available, the estimated cash flow yield from limiting the research and development tax credit to a company’s liability to tax could be in the region of €240m. However, this estimate takes no account of any change in taxpayer...

Written Answers — Department of Finance: VAT Rate Application (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 203 and 202 together. I am informed by Revenue that the Ready Reckoner, available at www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf(page 26), shows the impact of increases in VAT rates including the 9% rate. As shown in the Ready Reckoner, the yield from the restoration of the VAT rate from 9% to 13.5% across all goods and services is...

Written Answers — Department of Finance: Mortgage Interest Relief Data (15 May 2018)

Paschal Donohoe: I am advised by Revenue that the estimated cost of Mortgage Interest Relief (MIR) in 2018 is €124m, while the projected cost of MIR in 2019 is €78m. These figures take account of the tapering out of the relief as a result of Budget 2018. Therefore, it is estimated very roughly that the cost of retention of MIR at the 2018 ceilings and qualifying interest levels in 2019 would...

Written Answers — Department of Finance: Departmental Staff Data (15 May 2018)

Paschal Donohoe: There are a range of staff who carry out work that relates to North-South issues including four staff in the Brexit Unit and four staff in the International Relations Unit. In addition, staff in relevant policy areas will consider North-South issues as they arise. While there are no staff specifically assigned to North-South issues, this issue is to the fore in the aforementioned units.

Written Answers — Department of Finance: Motor Insurance (15 May 2018)

Paschal Donohoe: In relation to the Deputy’s first query, the Second Motor Insurance Key Information Report was published on my Department’s website on Friday 11 May: . The Report is the second in a series of reports designed to address Recommendation 12 of the Cost of Insurance Working Group, which aim to increase the level of transparency of the insurance sector in advance of the...

Written Answers — Department of Finance: EU Data (15 May 2018)

Paschal Donohoe: I am advised by Revenue that the EU established its Authorised Economic Operator (AEO) concept based on internationally recognised standards, created a legal basis for it in 2008, and updated and amended the conditions and benefits of same in the Union Customs Code (UCC) through its implementing and delegated Acts. The AEO programme, which aims to enhance international supply chain security...

Written Answers — Department of Finance: European Stability Mechanism (15 May 2018)

Paschal Donohoe: I met with the Managing Director of the European Stability Mechanism (ESM), Klaus Regling, on Tuesday, 8 May 2018. We had a positive and constructive discussion on a number of issues including the Irish economy and the future of the Economic and Monetary Union, with a focus on the future role of the ESM. Mr. Regling noted that Ireland’s economic recovery since the crisis is...

Written Answers — Department of Finance: Banking Sector Reform (15 May 2018)

Paschal Donohoe: As the Deputy is aware, my Department, along with the Department of Rural and Community Development are responsible for fulfilling the Programme for Government commitment to "thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions". Local public banking is where a State, or other public body, has ownership of a...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 210 and 212 together. I understand that the Deputies may be referring to a recent report in the Sunday Business Post on the Employment and Investment Incentive (EII). I am aware of the comments made by the Revenue Chairman. As the Deputies may be aware, I announced a comprehensive review of the EII Scheme last November. That review is now underway and is...

Written Answers — Department of Finance: Consumer Protection (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 211 and 213 together. As the Deputies are aware, the Central Bank has responsibility for the regulation and supervision of financial institutions in terms of consumer protection and prudential requirements and for ensuring on-going compliance with applicable statutory obligations. Under the Central Bank’s Consumer Protection Code 2012 (the Code), a...

Written Answers — Department of Finance: State Claims Agency (15 May 2018)

Paschal Donohoe: The State Claims Agency (SCA) is part of the National Treasury Management Agency (NTMA), which is a body under the aegis of the Minister for Finance. On this basis, officials in my Department are in regular contact with the SCA regarding my role as the responsible Minister. This contact does not extend to monitoring the SCA’s day-to-day operations, including its handling of sensitive...

Written Answers — Department of Public Expenditure and Reform: Budget Targets (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 216, 217 and 218 together. Table 3 on Page 22 of the Summer Economic Statement (SES) 2017 set out an amount of €3.2 billion in respect of the estimated net fiscal space for 2019. In arriving at this net amount, the fiscal space impact of certain pre-committed voted expenditure was deducted from the gross fiscal space. The nominal amounts relating...

Written Answers — Department of Public Expenditure and Reform: Translation Services Provision (15 May 2018)

Paschal Donohoe: The Office of Government Procurement (OGP) and its sector partners put in place framework agreements through which public sector bodies can buy goods and services. The OGP has established three Framework Agreements to deliver translation and interpretation services to public bodies. These are for the provision of: - Interpretation Services (excluding Irish), established in February 2016; -...

Written Answers — Department of Public Expenditure and Reform: Labour Court Recommendations (15 May 2018)

Paschal Donohoe: I would refer the Deputy to my response to PQ 54985/17 of 16 January 2018.