Results 20,661-20,680 of 32,864 for speaker:Paschal Donohoe

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

Paschal Donohoe: As the Deputy will be aware, the Markets in Financial Instruments Directive II came into effect at the beginning of this year. AIB have provided me with the following comment: "MiFID II obligations which were due for 3 January have been assessed and the relevant updates have been applied to the AIB business model. Elements that are phasing in post this date are in development and are...

Written Answers — Department of Finance: Mortgage Data (1 Feb 2018)

Paschal Donohoe: The Central Bank has provided me with the following information in relation to the warehousing of a portion of debt associated with split mortgages. "The Central Bank publishes Mortgage Arrears Data detailing quarterly developments in the number and value of mortgages in arrears, restructured mortgages, repossessed properties, for principal residences and buy-to-let properties. The reporting...

Written Answers — Department of Finance: Tax Appeals Commission (1 Feb 2018)

Paschal Donohoe: I propose to take Questions Nos. 85 to 88, inclusive, together. The TAC was established and new procedures for making, processing, adjudicating and determining appeals came into effect on 21stMarch 2016. Before this date taxpayers sent their appeals directly to Revenue who then transferred cases to the Appeal Commissioners when they were ready for a hearing. Since that date, taxpayers send...

Written Answers — Department of Finance: Tax Appeals Commission (1 Feb 2018)

Paschal Donohoe: Following its establishment the Tax Appeals Commission (TAC) received thousands of appeals from both the Revenue Commissioners and the Office of the Appeal Commissioners. Further to this the TAC became the first port of call for all new appeals, of which they received 899 in 2016. I am advised that due to the volume of appeals received and nature of the appeals, the information sought by...

Written Answers — Department of Finance: Tax Appeals Commission (1 Feb 2018)

Paschal Donohoe: Since its establishment in March 2016 the Tax Appeals Commission (TAC) has had two full time Commissioners. An additional temporary Commissioner was appointed in June 2017 for a 2-year period in order to assist in disposing of the legacy appeals which transferred to the Commission from the Revenue Commissioners. Further to this, the Commission currently compromises of the following...

Written Answers — Department of Finance: Tax Appeals Commission (1 Feb 2018)

Paschal Donohoe: I am advised by Revenue that while a matter is subject to an appeal to the Tax Appeals Commission, the collection of the amount of tax that is in dispute is suspended until the appeal is determined by the Tax Appeals Commission. Where the Tax Appeals Commission find in favour of Revenue, and the tax is found to be due and payable, the original due date in respect of that tax continues to...

Written Answers — Department of Finance: Tax Collection (1 Feb 2018)

Paschal Donohoe: I am advised by Revenue that the income tax owed by the person concerned for 2016 is based on a return they completed for the year in question. I am further advised by Revenue that arrangements are being made to make direct contact with the person concerned to clarify matters as regards the tax owed and to agree a suitable payment arrangement for any tax owed.

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions Data (1 Feb 2018)

Paschal Donohoe: I refer the Deputy to my reply to Parliamentary Question No. 186 on 23 January 2018.

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Retirements (1 Feb 2018)

Paschal Donohoe: I refer the Deputy to my reply to Parliamentary Question No. 146 on 14 December 2017.

Written Answers — Department of Public Expenditure and Reform: EU Funding (1 Feb 2018)

Paschal Donohoe: Ireland and Northern Ireland are currently partners in two EU-funded cross-border Cooperation Programmes, PEACE and INTERREG.  Between them they have seen nearly €3.5 billion of investment in Northern Ireland and the Border region of Ireland over the last quarter of a century. The Government is proud of the role it played in securing EU funding for a fourth PEACE...

Written Answers — Department of Public Expenditure and Reform: Internal Audits (1 Feb 2018)

Paschal Donohoe: The Internal and EU Audit Unit of the Department of Public Expenditure and Reform (DPER) provides an internal audit service not only to that Department but also to the Department of Finance on a shared service basis. As required by the Internal Audit Standards launched by the Department of Public Expenditure and Reform in 2012, the Internal Audit Unit function underwent an External...

Written Answers — Department of Public Expenditure and Reform: Apprenticeship Data (1 Feb 2018)

Paschal Donohoe: The current apprenticeships in the Department of Public Expenditure and Reform and bodies under its aegis are listed in the following table: OPW Apprenticeships as of  31/01/2018 Female Male Total Carpenter and Joiner 1 9 10 Construction Plant Fitter 5 5 Stonecutter and Stonemason 23 23 Wood Manufacturer and Finisher 2 2 TOTAL 40

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: I thank the Chairman for the opportunity to address the committee. I am accompanied today by colleagues from the Department who have been involved in developing the range of options as set out in the rainy day fund consultation paper. I begin by providing some background and context to the proposal on the setting up of a rainy day fund. The concept was originally mooted by my predecessor as...

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: Does the Chairman want me to speak on-----

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: I will deal with each of them in turn. With regard to whether there are any other examples of countries that are well advanced in doing this kind of work with a European setting, the answer is "No". When we commence this work in terms of putting together a fund, we will be in the first wave of countries that are looking to carry out this work well. In terms of compliance with fiscal rules,...

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: I am not aware of any such discussions in other countries. Even if those discussions are beginning to develop, they have not got to the point of causing discussion in either Eurogroup or ECOFIN meetings. When our thinking is more advanced on this in the next few months, I believe we will be one of the countries, if not the first country, to raise this matter.

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: What exist in other countries are contingency reserves set aside on a by-department basis.

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: I thank the Deputy. Regarding the first question, I would not anticipate that the contingency reserve fund could be used to fund precautionary work. In any Department, precautionary work that needs to be delivered should be part of the normal Estimates process. In my experience of dealing with these matters now, precautionary work and the objective of preventing future difficulties can be...

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: Just let me finish answering the question. If I have the Deputy's question wrong, I will deal with that. As I said, if I was to include that as a use of the contingency reserve fund, I think I would never get it set up and it would be in withdrawal all the time.

Committee on Budgetary Oversight: Proposal to Establish a Rainy Day Fund: Minister for Finance (31 Jan 2018)

Paschal Donohoe: The Deputy is correct regarding that particular event but I do not believe investment in precautionary measures would offset the need for a reserve fund in the future. That is for two reasons. The first is the variety of different events that might require use of a contingency fund. In the papers I referred to a natural phenomenon. For example, what would happen if we had another episode...