Results 22,021-22,040 of 32,864 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: In the Finance Bill, I have provided for an increase of €200 in the earned income credit to bring it up to a value of €1,150 per year. The €200 increase provides a significant benefit to small business owners across the country, including small retailers, publicans, farmers and tradesmen. It is estimated that the credit will be of benefit to approximately 151,600...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I am.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: That will depend on the resources that are available to me next year and beyond. However, I aim to make a more significant step on it next year, depending on available resources.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: October is the first month in the tax year so far in which our tax collection has moved into line with our profile and what we expected to do. While there is much focus from the Deputy and others as to where we will end up in November, it has to be seen in the context of a year in which, up until October, we were behind profile. While we were ahead of where we were a year ago, we were...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: The scale of the overall package of budget day announcements was smaller than some of the budgets to which the Deputy is referring, which, therefore, meant the resources available for measures such as the earned income credit were smaller. I reiterate that I do not believe people should be forced into self employment. As we move into November there will be a focus on the level of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I have a strong interest in seeing if there is evidence to back up many of the concerns raised by the Deputy. That is why I anticipate the report to which I have referred the Deputy on a number of occasions will be brought to Cabinet and published soon and should provide an evidence base for examining the issue. In the context of our earlier discussion on the future of the USC, I have very...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I do not anticipate------

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: The Departments of Social Protection and Finance.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I do not anticipate we will have to require the publication of submissions in lieu of the report. I want the report to be published.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: Staon: Deputy Michael McGrath.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I have been informed that the banks are committed to covering any tax liability that may arise due to that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I will have to come back to the Deputy on that matter.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: While it is a matter that is separate from the Finance Bill, on the Deputy's question, my understanding is that the Central Bank does have an information line or service through the consumer affairs division for dealing with this matter. Any issue relating to individuals being able to access their documents is something the Central Bank should be able to help them with.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: No, it only applies to private dwellings.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: No. That is because there is an income from that which is treated differently for taxation purposes. It is tax deductible.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: It is in section 97 and it is primarily determined on whether one has rental income from a property. In a moment I will tell the Deputy exactly where it is located in legislation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: From the time it becomes a rental property, it is considered a buy-to-let.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I will have to come back to the Deputy on that. I am just getting some information on it and I will come back to him before we finish at 10 p.m.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: I spoke to the chairman of the Revenue Commissioners yesterday on foot of the information that was contained in the Paradise Papers. He has told me that any matters that require further investigation or action from the Revenue Commissioners on foot of anything contained in the papers will happen. I have not spoken to him since then.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2017: Committee Stage (7 Nov 2017)

Paschal Donohoe: The people who will give me that assurance are the Revenue Commissioners. They will not comment on any individual case, because it is up to them to do their work in that area. I spoke to the chairman yesterday morning. To use Deputy Doherty's phrase, I lifted the phone to him to say that I was obviously very concerned about the information that was contained in those papers and I wanted an...