Results 22,121-22,140 of 32,864 for speaker:Paschal Donohoe

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

Paschal Donohoe: My officials have investigated this matter and have found that Ulster Bank have not reduced service in their Ballyconnell branch. The opening hours have not changed. Ballyconnell customers, in addition to using the branch, can manage their personal and business accounts directly, anytime and anywhere using: - Anytime internet banking - Mobile phone banking - Anytime Telephone banking -...

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

Paschal Donohoe: Notwithstanding the State’s 14% minority shareholding in Bank of Ireland, I, as Minister, have no direct function in commercial decisions taken by the bank including those which are part of the relationship between the bank and its customers. Decisions of this nature are matters for the board and management of the institution. The Minister has responsibility to ensure that the bank...

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

Paschal Donohoe: The scope of the Central Bank Tracker Mortgage Examination covers all lenders which sold tracker mortgage accounts, including both for the family home and investment properties, up to the end of 2015: - that originated on tracker interest rates; - that had tracker interest rates applied at any stage during the term of the underlying mortgage agreements; and/or - where the underlying mortgage...

Written Answers — Department of Finance: Emergency Services Personnel (7 Nov 2017)

Paschal Donohoe: The Government acknowledges and appreciates the work undertaken both before and after the storms by a wide range of individuals including the emergency services, road and electricity crews and community and voluntary organisations.  However, the rates at which Income Tax is charged, and the amounts subject to each rate are set out in section 15 of the Taxes Consolidation Act 1997. The...

Written Answers — Department of Finance: Interest Rates (7 Nov 2017)

Paschal Donohoe: There is a variety of factors which result in a disparity between mortgage interest rates in Ireland and other EU countries. Some of these include differences in national legal and housing systems, cultural preferences, the proximity of lenders to borrowers. More directly, credit and market conditions, mortgage default rates and the funding of mortgage credit will...

Written Answers — Department of Finance: Community Employment Schemes Supervisors (7 Nov 2017)

Paschal Donohoe: I am advised by Revenue that income arising from participation in a Community Employment Scheme is liable to income tax and that such income is, in fact, taxed under the PAYE system. If the Deputy is aware of a situation whereby participants in a Community Employment Scheme are not paying income tax, he should provide relevant details to Revenue who will examine the matter.

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

Paschal Donohoe: The Programme for Partnership Government recognises the difficulties faced by community groups in relation to VAT rates on certain products such as defibrillators. This is an EU competency and the Government has committed to  work with our EU counterparts in seeking to reform this area. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard...

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

Paschal Donohoe: I am advised by Revenue that the provisions relating to penalties for failing to make a correct tax return where one is required are set out in section 1077E of the Taxes Consolidation Act (TCA) 1997. This section provides that the applicable penalties may be mitigated in specific circumstances where the taxpayer makes a “qualifying disclosure”, that is a full disclosure of all...

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

Paschal Donohoe: Section 477C of the Taxes Consolidation Act 1997 provides for the Help to Buy (HTB) initiative. A  first-time purchaser is defined as "an individual who ... has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his or her own behalf a dwelling".  One of the main policy aims of the Help to...

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

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides relief from VAT and Vehicle Registration Tax, an exemption from motor tax and a grant in respect of fuel expenditure, on the purchase of an adapted car for transport of a permanently and severely disabled person within the terms of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994. The...

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

Paschal Donohoe: The Deputy will be aware that I announced in the Budget the introduction of a VAT compensation scheme for charities, which will compensate them for the VAT they incur on their services. The scheme will be introduced in respect of VAT incurred in 2018 but will be paid in arrears in 2019. Details of the proposed scheme are available on my Department’s website. Legislation for this...

Written Answers — Department of Finance: Insurance Compensation Fund (7 Nov 2017)

Paschal Donohoe: Setanta Insurance 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. As the Deputy is aware, the Supreme Court delivered its judgment on 25 May 2017 and overturned the previous decisions of the High Court and the Court of Appeal that the Motor...

Written Answers — Department of Finance: NAMA Property Sales (7 Nov 2017)

Paschal Donohoe: I am advised that NAMA does not own properties. Rather its role is as a secured lender and the properties remain under the control of the debtor, or where enforcement has taken place, the appointed receiver/administrator.  I am advised that the properties concerned are under the control of a receiver who has responsibility for their management and maintenance. In this regard, I am...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (7 Nov 2017)

Paschal Donohoe: I am advised by Revenue that, in the case of a self-build, the main criteria which apply under the Help to Buy scheme are: - the claimant must be a first-time buyer, - the residence must be built directly or indirectly by the first-time buyer, - a loan must be taken out with a qualifying lender in respect of provision of the self-build, where the loan-to-value ratio is a...

Written Answers — Department of Finance: Proposed Legislation (7 Nov 2017)

Paschal Donohoe: As the Deputy will be aware, the Fossil Fuel Divestment Bill 2016 is a Private Members Bill which was introduced by Deputy Thomas Pringle in November 2016. It is not a Government Bill. However I can indicate to the Deputy where the Bill currently stands. Following its passage through Second Stage on 19 January 2017, the Bill was referred to the Oireachtas Committee on Finance, Public...

Written Answers — Department of Finance: Bank Restructuring (7 Nov 2017)

Paschal Donohoe: There are no State funds provided or required in relation to the creation of a Holding Company by AIB, as facilitated by an EGM (Extraordinary General Meeting) on Friday 3rd November. AIB is required to establish a Holding Company structure under the BRRD (Bank Recovery and Resolution Directive) which established an EU framework for dealing with pre-resolution and resolution...

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

Paschal Donohoe: The Deputy may wish to note that the Central Bank's document "Principles for Redress" in relation to the tracker mortgage examination provides, inter alia, that the credit rating of impacted customers is to be corrected as soon as possible by the lender and that copies of an updated credit rating are to be provided free of charge to impacted customers. The Central Bank "Principles for...

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

Paschal Donohoe: I propose to take Questions Nos. 255 and 268 together. As the Deputy is aware, the Central Bank of Ireland has set out the Framework for Conducting the Tracker Mortgage Examination and the Principles for Redress. The Central Bank has indicated that appeals form an important part of the overall Examination process by ensuring independent and transparent processes to address complaints...

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

Paschal Donohoe: The Central Bank has advised that in accordance with the Tracker Examination Framework, the Central Bank expects that for all impacted customers, lenders’ redress and compensation offers will restore them to the position they would have been in had the detriment not occurred and that they are appropriately compensated for the detriment suffered. The Central Bank expects the...

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

Paschal Donohoe: The recent October 2017 Central Bank update on the tracker mortgage examination () indicates that to date lenders have reported that as a result of their failings, loss of ownership has occurred in respect of 23 private dwelling homes and 79 buy-to-let properties. However, the Bank's update also states that, as lenders’ analyses continue, this figure will rise. The Central...