Results 20,561-20,580 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Data (13 Feb 2018)

Paschal Donohoe: Central Bank of Ireland statistics on private household credit and deposits (Money, Credit and Banking Statistics - Tables A.18.1 and A.18.2) indicates that, as at the end of quarter 3 2017, the following are the outstanding amounts of loans advanced to Irish resident private households for the purpose of house purchase (including loans that are securitised/transferred but remain serviced by...

Written Answers — Department of Finance: Interest Rates (13 Feb 2018)

Paschal Donohoe: The Central Bank has advised that it published a research paper in December 2017 entitled, 'Resolving a Non-Performing Loan crisis: The ongoing case of the Irish mortgage market', which provides information relevant to the Deputy's request. One of the issues this paper investigates is the impact of a 200bps increase in the interest rate on trackers on mortgage repayments specifically for...

Written Answers — Department of Finance: Property Tax (13 Feb 2018)

Paschal Donohoe: I recently announced a review of the Local Property Tax (LPT) which will look in particular at the impact on LPT liabilities of property price developments. It will include an examination of the outstanding recommendations of the 2015 Thornhill review of the Local Property Tax. It is expected that the review will be completed at the end of August and that the review report will provide a...

Written Answers — Department of Finance: Insurance Costs (13 Feb 2018)

Paschal Donohoe: I expect to be in a position to approve the publication of the fourth quarterly update report in the coming days. The Deputy will be aware that the Report on the Cost of Motor Insurance was published in January 2017 and made 33 recommendations with 71 associated actions to be carried out in agreed timeframes, as set out in an Action Plan. There have been three quarterly updates published to...

Written Answers — Department of Finance: VAT Yield (13 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 134 and 135 together. On 1 January 2015 new EU VAT rules came into effect changing the place where VAT is chargeable in respect of all supplies of telecommunications, broadcasting and electronic (TBE) services to consumers. VAT on these services is now chargeable where the consumer is located instead of where the supplier is located. As a result of the...

Written Answers — Department of Finance: Mortgage Data (13 Feb 2018)

Paschal Donohoe: The Central Bank has informed me that the age profile of those on Interest Only mortgages is not readily available.  However, a paper written by Fergal McCann of the Central Bank, called "Resolving a Non-Performing Loan crisis: The ongoing case of the Irish mortgage market", published in December last year, provides some information. The following table from...

Written Answers — Department of Finance: Tax Credits (13 Feb 2018)

Paschal Donohoe: I am advised by Revenue that information in respect of the amount of Research and Development (R&D) tax credit is available at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdffor all years up to 2015. From analysis to date on tax returns for 2016, the tax cost of this credit is currently estimated at €674 million. An estimate of...

Written Answers — Department of Finance: Stamp Duty (13 Feb 2018)

Paschal Donohoe: Stamp Duty is chargeable on ATM cards and combined cards (which comprise ATM and debit card functions).  Where only the ATM function of a combined card is used during a year the Stamp Duty is €0.12 per withdrawal subject to an annual maximum of €2.50.  The same Stamp Duty charge  applies to ATM only cards.  Where both the ATM and debit card functions of a...

Written Answers — Department of Finance: National Treasury Management Agency Staff (13 Feb 2018)

Paschal Donohoe: The year end 2016 and 2017 headcount of the National Treasury Management Agency (NTMA) excluding staff assigned to the National Asset Management Agency (NAMA) and including staff assigned to the Strategic Banking Corporation of Ireland and staff from the Banking Unit seconded to the Department of Finance are set out in the following table. Year Headcount 2016 480 2017 526 The...

Written Answers — Department of Finance: NAMA Staff Remuneration (13 Feb 2018)

Paschal Donohoe: The year end 2016 and 2017 headcount of the National Treasury Management Agency (NTMA) assigned to the National Asset Management Agency (NAMA) is set out in the following table. Year Headcount 2016 302 2017 264 The following table below shows the number of NAMA officers by relevant band. The numbers include staff members who left the NAMA during 2017 in addition to those employed...

Written Answers — Department of Finance: VAT Payments (13 Feb 2018)

Paschal Donohoe: I am advised by the Revenue Commissioners that under the EU VAT Directive the supply of the service of a locum doctor to a medical practice by an organisation or company constitutes a supply of the service of the provision of staff, which is subject to VAT at the standard rate, currently 23%.  In such circumstances, the organisation or company supplying staff is obliged to...

Written Answers — Department of Finance: Tax Reliefs Eligibility (13 Feb 2018)

Paschal Donohoe: I am informed by Revenue that tax relief in respect of health expenses is provided for in section 469 of the Taxes Consolidation Act 1997. Section 469 defines "health expenses" as "expenses in respect of the provision of health care including drugs or medicines supplied on the prescription of a practitioner".  The term “practitioner” is defined in the section...

Written Answers — Department of Finance: Parliamentary Questions (13 Feb 2018)

Paschal Donohoe: The precise nature of the issue which the Deputy wishes to raise is unclear from the details supplied.  Further information has been requested from the Deputy's constituency office and I would be happy to address his query should the Deputy wish to ask this question again when further information is available.

Written Answers — Department of Finance: EU-IMF Programme of Support (13 Feb 2018)

Paschal Donohoe: The UK Bilateral loan provided as part of the EU-IMF Programme was drawn down in eight equal tranches of £403 million over the period October 2011 to September 2013. The total UK Bilateral loan outstanding is £3.23 billon. This is a fixed rate loan. The weighted average interest rate, including service fees, on the aggregate UK loan facility is 2.6%. Interest is paid...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (13 Feb 2018)

Paschal Donohoe: I am advised by Revenue that, for the purposes of the Help-to-Buy incentive, the relevant definition of a qualifying residence (as set out in section 477C(1) of the Taxes Consolidation Act 1997) is “a new building which was not, at any time, used, or suitable for use, as a dwelling”. Based on the information supplied by the Deputy, it would appear that the house in question...

Written Answers — Department of Finance: Unclaimed Pensions (13 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 146 and 147 together. As the Deputy will appreciate, a number of State bodies have a role in relation to the broad area of pensions policy. As Minister for Finance, my role has been primarily in relation to the use of tax policy to incentivise pension savings. My colleague, Deputy Regina Doherty, as Minister for Employment Affairs and Social...

Written Answers — Department of Finance: Unclaimed Pensions (13 Feb 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 his office. Under the Financial Services and Pensions Ombudsman Act 2017, the function of the Ombudsman in relation to pension schemes is to investigate allegations of financial loss occasioned to a...

Written Answers — Department of Finance: Negative Equity Mortgages (13 Feb 2018)

Paschal Donohoe: From a financial perspective the overall Government approach to the issue of mortgage difficulty has been to provide supports and measures to assist borrowers experiencing most difficulty in meeting their mortgage payments. For example, the Government has reformed personal insolvency, introduced the Abhaile Scheme which provides support via the Money Advice and Budgeting Service (MABS),...

Written Answers — Department of Finance: VAT Yield (13 Feb 2018)

Paschal Donohoe: I am informed by the Revenue Commissioners that where goods are imported from a non-EU country, VAT and Customs Duty are chargeable at the point of importation based on the value, origin and the classification of the good. The amount of VAT and Customs Duty collected from all goods coming from outside the EU is provided in the following table. These figures are provisional and may be...

Written Answers — Department of Finance: Bond Markets (13 Feb 2018)

Paschal Donohoe: Schuldschein are a German instrument of loans issued against borrowers’ notes. As such they are not securities quoted on an exchange but are private placements, issued under German law and are usually held to maturity. The NTMA has advised me that it does not purchase Schuldschein but does issue Schuldschein on occasion. At present there is €602...