Results 20,201-20,220 of 33,392 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Knowledge Development Box (1 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 79 to 81, inclusive, together. The Knowledge Development Box (KDB) was introduced by the Finance Act 2015. It provides for relief from tax on the profits earned from the exploitation of patents, copyrighted software and IP for small companies, provided that IP was developed through R&D carried out in Ireland. The potential cost of the KDB was...

Written Answers — Department of Finance: Banking Sector Regulation (1 May 2018)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman is independent in the performance of his statutory functions. I have no role in the day to day workings of the office. As the Deputy will be aware the Financial Services and Pensions Ombudsman (FSPO) was established on 1 January 2018 under the Financial Services and Pensions Ombudsman Act 2017. I have been advised...

Written Answers — Department of Finance: Banking Operations (1 May 2018)

Paschal Donohoe: I have been advised by the Central Bank that it is aware of an issue involving the bank accounts of certain bank customers in recent days. The Central Bank is monitoring the situation and is in contact with the institution in relation to this matter. While the Central Bank cannot comment on individual interactions with regulated entities, Ulster Bank Ireland DAC (Ulster Bank) has been...

Written Answers — Department of Finance: Bank IT Systems (1 May 2018)

Paschal Donohoe: As the Deputy is aware the European Central Bank (ECB) is responsible for all core supervisory responsibilities as defined in the Council Regulation (EU) No. 1024/2013 (SSMR). For Significant Institutions (which includes all the large retail banks in Ireland), a Joint Supervisory Team (JST), led by the ECB, and consisting of both ECB and Central Bank supervisors directly supervise these...

Written Answers — Department of Finance: Insurance Industry Regulation (1 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 85 and 86 together. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the...

Written Answers — Department of Finance: Legislative Measures (1 May 2018)

Paschal Donohoe: On 19 December 2017, the Government approved the General Scheme of the Central Bank (National Claims Information Database) Bill, which was prepared following extensive work on the part of the Data Sub-group of the Cost of Insurance Working Group last year. The Office of the Parliamentary Counsel assigned a drafter to the Bill on 26 January 2017 and officials in my Department are currently...

Written Answers — Department of Finance: Credit Ratings (1 May 2018)

Paschal Donohoe: The Central Bank has advised that the Central Credit Register is being implemented on a phased basis. Phase 1 started on 30 June 2017 and included the submission of information on consumer loans such as credit cards, personal loans, mortgages and overdrafts. The information is provided by lenders to the Central Credit Register on a monthly basis, and represents the position of a loan as at...

Written Answers — Department of Finance: Corporation Tax (1 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 89 and 91 together. The Government does not accept the Commission’s analysis in the Apple State aid Decision and has lodged an appeal in the European Courts. However, we have always been clear that we are fully committed to ensuring that recovery of the alleged Apple State aid takes place and have committed significant resources to ensuring this is...

Written Answers — Department of Finance: Corporation Tax (1 May 2018)

Paschal Donohoe: Notwithstanding the appeal in the Apple State Aid case and the difference in view between Ireland and the Commission on the issue, the Government is committed to complying with the binding legal obligations that the Commission’s Final Decision places on Ireland. Apple therefore must be deprived of the benefit of the alleged aid, which the Commission have estimated will amount to...

Written Answers — Department of Finance: Banking Sector Regulation (1 May 2018)

Paschal Donohoe: While the Central Bank cannot comment on individual interactions with regulated entities, Ulster Bank Ireland DAC (Ulster Bank) has been engaging with the Central Bank in relation to this matter. Customers have a legitimate expectation of high quality, uninterrupted services, whether provided through traditional or online channels. The Central Bank expects all firms to have adequate...

Written Answers — Department of Finance: Tracker Mortgage Examination Data (1 May 2018)

Paschal Donohoe: The Central Bank has advised that, as set out in its recently published April 2018 Tracker Mortgage Examination Progress Report, the total number of impacted customers identified through the Examination to end-March 2018 is c. 30,000 (of which 1,500 remain to be verified by lenders) and that this represents an increase of 3,400 identified customer accounts since the December report. (When...

Written Answers — Department of Finance: Financial Services Regulation (1 May 2018)

Paschal Donohoe: In my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Consequently my Department has no role in collecting the information being sought by the Deputy. In order to address the questions posed, my officials contacted the Central Bank of Ireland on this matter. The Central Bank advised that the information collected...

Written Answers — Department of Finance: Financial Services Regulation (1 May 2018)

Paschal Donohoe: As the Deputy will be aware financial institutions are designated persons under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (“the Act”) and are obliged to comply with the regulatory obligations contained under Part 4. Section 37 of the Act obliges designated persons totake steps to determine whether a customer, or a beneficial owner connected with...

Written Answers — Department of Finance: Tax Agreements (1 May 2018)

Paschal Donohoe: I am advised by Revenue that section 18 Taxes Consolidation Act 1997 provides that an individual who is not resident and not ordinarily resident in Ireland, is in general, liable to Irish tax only on income arising in Ireland. Rent arising from a property situated in Ireland is considered Irish source income and is therefore within the charge to Irish income tax notwithstanding that the...

Written Answers — Department of Finance: Insurance Data (1 May 2018)

Paschal Donohoe: At the outset, you should note that I am advised by the Central Bank of Ireland that pet insurance is not a defined insurance class, of its own, under the European Union (Insurance and Reinsurance) Regulations 2015 and it is therefore not possible to determine which firms provide this type of insurance, nor the levels of revenue obtained from such insurance. However, notwithstanding this, my...

Written Answers — Department of Finance: Vehicle Registration Data (1 May 2018)

Paschal Donohoe: I am advised by Revenue that the number of new and used cars registered for Vehicle Registration Tax for the years 2014 to 2017 and the first three months of 2018 are shown in the following table. Gross cars registered for VRT New Cars Used Cars 2014 96,630 54,471 2015 125,211 48,398 2016 146,806 72,718 2017 131,683 94,456 2018 (3 Months to end March) 72,065 26,304 I am informed by...

Written Answers — Department of Finance: Financial Services Regulation (1 May 2018)

Paschal Donohoe: As the Deputy will be aware Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. In the State PCP finance is underwritten by standard financial institutions, manufacturer banks, and special purpose...

Written Answers — Department of Finance: Stamp Duty (1 May 2018)

Paschal Donohoe: I am advised by Revenue that the breakdown of Stamp Duty receipts by property category as requested by the Deputy is not available. The available information is the estimated net receipts of Stamp Duty associated with all property for January to March 2018 and the equivalent net receipts for January to March 2017. 2017 2018 2018 Month Stamp Duty on Property Net Receipts €m Stamp...

Written Answers — Department of Finance: Universal Social Charge Review (1 May 2018)

Paschal Donohoe: Following a commitment I made in Budget 2018, an inter-Departmental Working Group has been established to examine and report on options for the amalgamation of USC and PRSI. The Group's Terms of Reference are as follows: “To examine and present options for the amalgamation of PRSI and USC in a manner which seeks to address, inter alia: (i)the need to preserve the tax base having regard...

Written Answers — Department of Public Expenditure and Reform: Community Employment Schemes Supervisors (1 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 103, 109 to 111, inclusive, and 120 together. I would refer the Deputy to my response to PQ 54985/17 of 16 January 2018 and PQ 13684/18 of 27 March 2018.