Results 22,101-22,120 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: VAT Rate Application (7 Nov 2017)

Paschal Donohoe: The VAT rating of residential property is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, the VAT Consolidation Act 2010 applies the reduced VAT rate of 13.5% to the supply of new residential property. In general, VAT is chargeable to the purchaser on the sale of all new residential property but the purchase of second-hand residential...

Written Answers — Department of Finance: Brexit Negotiations (7 Nov 2017)

Paschal Donohoe: As Minister for Foreign Affairs and Trade with special responsibility for Brexit, Minister Coveney has responsibility for coordinating the whole-of-Government response to Brexit. In this capacity, he is working closely with colleagues across Government to address the many challenges resulting from Brexit. This co-operation also involves the relevant State Agencies. Work at Cabinet level is...

Written Answers — Department of Finance: Revenue Commissioners (7 Nov 2017)

Paschal Donohoe: The Deputy will be aware that the position as regards the Revenue Dundalk office has beenaddressed in a number of recent Parliamentary Questions. I am advised by Revenue that there are no plans to re-introduce a “walk-in” service at the Dundalk office. Revenue has recently expanded its outreach programme to include a monthly information session in the Citizens Information...

Written Answers — Department of Finance: Tax Collection (7 Nov 2017)

Paschal Donohoe: I am advised by Revenue that the amounts received, offset and refunded in relation to RCT are set out in the table. I am further advised by Revenue that RCT payments relate to a number of different industries and it is not possible to separately identify RCT payments which relate only to the construction sector. However, construction accounts for the bulk of these activities. Tax Year...

Written Answers — Department of Finance: Tax Yield (7 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 216 to 218, inclusive, together. When the then Minister for Finance announced in last year’s Finance Bill that he was reducing the rate of DIRT by 2% each year until it reaches 33% in 2020, he identified the cost of that measure as €9m for a full year, or €36m by 2020 (Revenue have subsequently revised the annual cost of a 2% reduction in...

Written Answers — Department of Finance: Tax Code (7 Nov 2017)

Paschal Donohoe: I am informed by Revenue that section 87B of the Taxes Consolidation Act 1997 (TCA) provides that gains arising from the release of loans, used to purchase land or property held as trading stock by individuals, are to be treated as the receipt of trading income and taxed accordingly. The amount of the debt released is to be treated as a receipt of the trade in the tax year in which the...

Written Answers — Department of Finance: Tracker Mortgages (7 Nov 2017)

Paschal Donohoe: As the Deputy is aware, the Central Bank is independent in the performance of its duties in the supervision of regulated financial service providers and it is working to ensure the Tracker Mortgage Examination is completed as soon as possible. The Government fully supports the Central Bank in the performance of its duties and has asked the Central Bank to provide a progress report on the...

Written Answers — Department of Finance: Departmental Contracts Data (7 Nov 2017)

Paschal Donohoe: I can inform the Deputy that my Department does not currently have any contracts with a company named 'Capita'. In relation to the eighteen Bodies under the Aegis of my Department, I am informed that three have contracts with companies named CAPITA. The National Asset Management Agency has two ongoing contracts with Capita Asset Service (Ireland) Ltd relating to loan administration. The...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (7 Nov 2017)

Paschal Donohoe: The Home Renovation Incentive (HRI) provides a tax relief by way of an income tax credit on repair, renovation or improvement works on principal private residences and rental properties by tax compliant contractors. HRI came into operation on 25 October 2013, with rental properties being brought within it from 15 October 2014. The scheme is due to end on 31 December 2018. Subject to...

Written Answers — Department of Finance: Property Tax Exemptions (7 Nov 2017)

Paschal Donohoe: LPT operates on a self-assessment basis and it is a matter for the property owner in the first instance to calculate the tax due based on his or her assessment of the market value of the property. When making an assessment, issues such as defective construction would be one of the factors that a property owner should take into account in valuing their property. The LPT legislation provides...

Written Answers — Department of Finance: Tracker Mortgage Examination (7 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 224, 227 and 253 together. The Tracker Mortgage Examination is the largest, most complex and significant supervisory review that the Central Bank has undertaken to date in the context of its consumer protection mandate, involving a review of more than two million mortgage accounts by lenders. As per the most recent Central Bank’s status update of 17...

Written Answers — Department of Finance: Tracker Mortgage Examination (7 Nov 2017)

Paschal Donohoe: As the Deputy is aware, the Central Bank is independent in the performance of its duties in the supervision of regulated financial service providers and it is working to ensure the Tracker Mortgage Examination is completed as soon as possible. The Central Bank has advised that in line with its mandate to ensure that the best interests of consumers are protected, the immediate focus of the...

Written Answers — Department of Finance: EU Treaties (7 Nov 2017)

Paschal Donohoe: While I note the recent comments by Commission President Juncker, no formal proposal has been put forward for a change in the way tax policy decisions are taken at EU level. Article 48(7) of the Lisbon Treaty provides a mechanism for the European Council to empower Council to act by Qualified Majority in certain areas, such as taxation, where unanimity is normally required. However the...

Written Answers — Department of Finance: Mortgage Data (7 Nov 2017)

Paschal Donohoe: The Central Bank has advised that Table A.18.1from “Private Household Credit and Deposits” statistical series presents loans advanced to Irish resident private households for the purpose of house purchase by within-the-State offices of credit institutions. These loans are further disaggregated by the type of interest rate fixation and primary use of the property for which the...

Written Answers — Department of Finance: Tax Code (7 Nov 2017)

Paschal Donohoe: I am informed by Revenue that employer-provided parking is not currently subject to benefit-in-kind taxation. I do not currently have any plans to change this. My officials are unaware of a committee such as the Deputy describes.

Written Answers — Department of Finance: Ministerial Advisers Data (7 Nov 2017)

Paschal Donohoe: I wish to inform the Deputy that I have two Special Advisers who are on the Department of Public Expenditure and Reform's payroll. Both Special Advisers are compensated on the third point of the Principal Officer PPC Scale at a rate of €88,392. The Department of Finance and the Department of Public Expenditure and Reform will share the cost of these salaries. Ms Deborah Sweeney was...

Written Answers — Department of Finance: Fiscal Policy (7 Nov 2017)

Paschal Donohoe: The European Central Bank (ECB) announced on October 26th the extension of its QE programme from December 2017 until September 2018 at the earliest, while at the same time announcing a reduction in the rate of monthly purchases from January 2018 to €30 billion, from €60 billion at present. The reinvestment of principal payments on maturing securities purchased under the...

Written Answers — Department of Finance: Banking Licence Applications (7 Nov 2017)

Paschal Donohoe: The Central Bank utilises a three-stage banking authorisation assessment process, the first two stages being part of a pre-application assessment, followed by submission of a formal application. It should be noted that it is the European Central Bank which determines whether a banking authorisation should be granted under section 9 of the Central Bank Act, 1971 (general banking...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (7 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 233 and 242 together. I am aware of the current position regarding the delays in processing Employment and Investment Incentive (EII) applications. Revenue has informed me that due to an increase in both the volume of the correspondence received and complexity of the issues involved in relation to applications for relief under EII, there has been an...

Written Answers — Department of Finance: Excise Duties (7 Nov 2017)

Paschal Donohoe: My decision not to increase the rate of excise duty applying to petrol and diesel in Budget 2018 ensures that the applicable rates have remained unchanged since 2012.   To protect road transport operators from exposure to increases in the price of oil a fuel rebate scheme was introduce in July 2013. This scheme, known as the Diesel Rebate Scheme, provides a...