Results 20,501-20,520 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Industry Regulation (15 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 103 to 106, inclusive, together. I am advised by the Central Bank of Ireland (the Bank) that on 15 February 2007, it issued correspondence to firms authorised under the Investment Intermediaries Act, 1995 (as amended) (IIA) advising them of their requirement to register under the European Communities (Insurance Mediation) Regulations 2005 (IMR). This...

Written Answers — Department of Finance: Financial Services Sector (15 Feb 2018)

Paschal Donohoe: The Central Bank of Ireland regulates more than 10,000 firms providing financial services in Ireland and overseas (according to its most recent Annual Performance Report 2016-2017 published in  April 2017, the Central Bank regulates 10,042  firms).   The types of firms regulated include Brokers/Retail Intermediaries, Bureaux de Change, Credit Institutions, Credit...

Written Answers — Department of Finance: Insurance Compensation Fund (15 Feb 2018)

Paschal Donohoe: In relation to the former customers of Setanta Insurance, the Deputy will know that Setanta was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that under the Insurance Act 1964, as amended, monies may be paid out of the...

Written Answers — Department of Finance: NAMA Operations (15 Feb 2018)

Paschal Donohoe: The Deputy will be aware that NAMA does not own or manage properties. NAMA acquired loans and the properties securing those loans continue to be managed by their legal owners or, in the case of enforcement, by duly appointed insolvency practitioners, who are responsible for the management of the properties and for decisions regarding future strategy for the properties. Under Section 10 of...

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

Paschal Donohoe: I am informed by Revenue that for gift tax purposes, the relationship between the person who provides the gift (i.e. the disponer) and the person who receives the gift (i.e. the beneficiary) determines the maximum amount known as the “Group threshold” below which gift tax does not arise. There are three separate Group thresholds based on the relationship of the beneficiary...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (15 Feb 2018)

Paschal Donohoe: As the Deputy will be aware, the goal of Strategic Banking Corporation of Ireland (SBCI) is to facilitate and encourage the availability of appropriately priced funding to SMEs on more flexible terms than has been available in recent times on the Irish market. The strategic mission of the Strategic Banking Corporation of Ireland (SBCI) is to deliver effective financial supports to Irish SMEs...

Written Answers — Department of Finance: European Fund for Strategic Investments (15 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 112 and 113 together. I take it that the Deputy is referring to the European Commission - European Investment Bank (EIB) - Member State Special Task Force to develop an Investment project pipeline for the EU in the Autumn of 2014. The purpose of that exercise was to compile a list of potential investment projects across Member States,...

Written Answers — Department of Finance: Pension Provisions (15 Feb 2018)

Paschal Donohoe: The legislation governing the tax treatment of pensions is contained in Part 30 of, and Schedules 23 to 23C to, the Taxes Consolidation Act 1997. In addition, the Revenue Pensions Manual gives general guidance on, among other things, how this legislation is to be applied. Revenue rules in relation to "Increases of Pensions in Payment" are set out in Chapter 6.8 of the Revenue Pensions...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Feb 2018)

Paschal Donohoe: As the Deputy is aware non-performing loans (NPL's) remain at an elevated level across the European banking system and addressing this issue is one of the key priorities for the Single Supervisory Mechanism (SSM). In Ireland significant progress has been made across the banking sector in reducing the level of NPLs since the financial crisis. Despite this progress, the level of NPLs in the...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Feb 2018)

Paschal Donohoe: I can confirm for the Deputy that I have been informed of permanent tsb’s decision to launch a sale process involving a portfolio of non-performing loans. This transaction was confirmed publicly by the bank earlier this week and has been dubbed Project Glas. This decision is being taken to help reduce the bank’s high level of non-performing loans and is a move prompted by SSM...

Written Answers — Department of Finance: Stamp Duty (15 Feb 2018)

Paschal Donohoe: I am advised that, while forecasts for 2019 to 2021 are not available, Revenue provide estimates of receipts for the current Budget year. Revenue’s estimates for Stamp Duty from non-residential property transactions 2018 are based on receipts for previous years, as well as impacts of earlier policy changes and assessment of significant once-off transactions that are not expected to...

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

Paschal Donohoe: The standard rate cut off point increased by €750 in Budget 2018 for all earners, e.g. from €33,800 to €34,550 for single individuals and from €42,800 to €43,550 for married one earner couples. As published in Budget documentation, at the time of Budget 2018 it was estimated that the first year (i.e. 2018) cost of the increase would be €132 million,...

Written Answers — Department of Finance: Government Bonds (15 Feb 2018)

Paschal Donohoe: As the Deputy may be aware, last December the National Treasury Management Agency (NTMA) announced that it planned to issue €14 - €18 billion of Government bonds over the course of 2018. It has already issued €5.25 billion of benchmark bonds so far this year. This is one third of the mid-way point of the €14 - €18 billion range. The volume of new...

Written Answers — Department of Finance: Government Bonds (15 Feb 2018)

Paschal Donohoe: Having already been reduced in size twice, Quantitative Easing (QE) is now scheduled to run until at least September 2018. This was confirmed by the European Central Bank (ECB) at its most recent Governing Council meeting in January, when it stated that net asset purchases under the Programme are intended to run until the end of September 2018, or beyond if necessary. The...

Written Answers — Department of Finance: Gender Recognition (14 Feb 2018)

Paschal Donohoe: As the Deputy is aware, on 4 September 2015, the Gender Recognition Act 2015 came into effect and provides for the legal recognition of a person's preferred gender. Under the Civil Service Diversity Policy - A Policy of Equality of Opportunity, the Department of Finance is strongly committed to equality of opportunity in all it employment practices. As an employer, the Department must...

Written Answers — Department of Finance: Data Protection (14 Feb 2018)

Paschal Donohoe: The General Data Protection Regulation (GDPR) which will take effect on 25 May 2018 places additional responsibilities on controllers and processors of personal data. My Department is aware of its obligations under the GDPR and is taking appropriate measures to ensure compliance with the regulation.  These measures include reviewing the personal data held in the...

Written Answers — Department of Finance: Tax Code (14 Feb 2018)

Paschal Donohoe: A review of the nature proposed by the Deputy is not currently planned as, to the extent that there are differences in the tax treatment of the different categories of couples, such differences arise from the objective of dealing with different types of circumstances while at the same time respecting the constitutional requirements to protect the institution of marriage. The basis for the...

Written Answers — Department of Finance: NAMA Portfolio (14 Feb 2018)

Paschal Donohoe: The Deputy will be aware that I, as Minister for Finance, have no role in respect of NAMA's commercial operations or decisions. These are matters for NAMA, in accordance with its statutory independent commercial mandate. However, in this instance, I am advised that NAMA has never had any involvement with this particular property. I would remind the Deputy that should she wish to raise any...

Written Answers — Department of Finance: Brexit Issues (14 Feb 2018)

Paschal Donohoe: The future arrangements that will apply to cross border movements of excisable goods will depend on the outcome of discussion on the future relationship between the EU and the UK. In accordance with EU rules, it will technically be the case that if such an agreement does not provide for UK participation in the EU excise movement control system, importers of excisable goods will still have...

Written Answers — Department of Public Expenditure and Reform: National Development Plan (14 Feb 2018)

Paschal Donohoe: The new National Development Plan 2018 - 2027, NDP, is currently in the process of being finalised and I expect that it will be published following approval by Government on 16 February.   The primary objective of the NDP is to underpin the implementation of the new national planning framework for spatial policy under the Ireland 2040...