Results 22,781-22,800 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Corporation Tax (11 Sep 2017)

Paschal Donohoe: In September last year, the Government decided to arrange for a review of Ireland’s corporation tax code by an independent expert, Mr Seamus Coffey. The decision was taken with a view to ensuring that Ireland’s corporation tax code meets the new international tax standards while remaining competitive in a growing economy. On 30 June 2017, Mr Coffey submitted...

Written Answers — Department of Finance: Tax Avoidance (11 Sep 2017)

Paschal Donohoe: The Multilateral Instrument will modify existing bilateral tax treaties to bring them into line with new international best practices agreed as part of the OECD BEPS initiative.  Over 70 countries, including Ireland, have already signed up to this Multilateral Instrument.   The Multilateral Instrument must be ratified by Ireland before it can come into effect and amend any of...

Written Answers — Department of Finance: Tax Avoidance (11 Sep 2017)

Paschal Donohoe: The Anti-Tax Avoidance Directive was agreed by Member States in June 2016 to implement a number of the OECD BEPS recommendations within the EU.  In February 2017, Member States agreed to amend the Directive to strengthen certain aspects of the rules in relation to hybrids mismatches.  Ireland will be required to implement the Anti-Tax Avoidance Directives by way of primary...

Written Answers — Department of Finance: Brexit Issues (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 117, 118, 160 and 214 together. The Government’s position in relation to the border with Northern Ireland in the context of Brexit is very clear.  Continued freedom of movement, absence of a ‘hard’ border, and protection of the Good Friday Agreement are key objectives for the Irish Government. The arrangements that will apply...

Written Answers — Department of Finance: VAT Rate Application (11 Sep 2017)

Paschal Donohoe: I would point out that VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply. The VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless there is a provision in the VAT Directive that permits a lower rate. In this respect,...

Written Answers — Department of Finance: Motor Insurance (11 Sep 2017)

Paschal Donohoe: At the outset, the Deputy should note that the EU regulatory framework for insurance already allows for the freedom to provide services from one Member State into another throughout the EU. This is a key principle and is availed of by a number of insurance firms established in Ireland in order to conduct business into other EU Member States, and also by companies authorised elsewhere...

Written Answers — Department of Finance: Departmental Banking (11 Sep 2017)

Paschal Donohoe: In response to the Deputy, my Department is working on the information requested and I will provide the Deputy with an answer as soon as possible.

Written Answers — Department of Finance: Tax Reliefs Eligibility (11 Sep 2017)

Paschal Donohoe: Tax relief can be claimed in respect of payments made by a parent under a deed of covenant in favour of their permanently incapacitated child where that child is 18 years of age or more.  However in the case of any child of less than 18 years of age, any payment by a parent under a deed of covenant is deemed under the Tax Acts to be the income of the parent and not income of the child....

Written Answers — Department of Finance: Tax Code (11 Sep 2017)

Paschal Donohoe: I am advised by Revenue that a capital gains tax (CGT) relief applies in respect of a gain made by a couple who are legally separating on the disposal of their family home together with land occupied as its gardens or grounds up to an area (exclusive of the site of the residence) of one acre.  For full relief to apply, the house must have been occupied by the individuals as their family...

Written Answers — Department of Finance: Prize Bonds (11 Sep 2017)

Paschal Donohoe: The NTMA has advised me the interest rate reduction reflects changes across the retail savings market and the fall in the cost of borrowing by the State. However, the change also maintains the balance of remaining competitive, providing good value for the holders of Prize Bonds while also remaining conscious of the cost to the taxpayer.  It should be borne in mind that the yield...

Written Answers — Department of Finance: Government Bonds (11 Sep 2017)

Paschal Donohoe: In 2013, the Central Bank acquired eight Floating Rate Notes (FRNs) amounting to €25 billion as part of the exchange of assets on the liquidation of IBRC. The Bank intends to dispose of these assets as soon as possible, financial stability conditions permitting. The sole responsibility for decisions regarding disposals of the Floating Rate Notes rests with the Central Bank, which...

Written Answers — Department of Finance: Mortgage Interest Relief Data (11 Sep 2017)

Paschal Donohoe: I believe the Deputy intended to refer to Parliamentary Question No. 112 of 26 July 2017.  In my reply on 26 July I provided an overview of section 244 of the Taxes Consolidation Act 1997, which provides tax relief in respect of interest paid by an individual on a loan used for the purchase, repair, development or improvement of his or her main residence or the sole or main...

Written Answers — Department of Finance: Tracker Mortgages (11 Sep 2017)

Paschal Donohoe: Officials in the Department referred the Deputy’s question to the bank and received the following response in this regard: “Under the Bank's Mortgage Redress Programme (MRP), to date there have been a total of 224 appeals to the Customer Appeals Panel (CAP). The Bank has received the decision of the CAP in 207 of these appeals. The following is a breakdown of the decisions of...

Written Answers — Department of Finance: VAT Rate Application (11 Sep 2017)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (11 Sep 2017)

Paschal Donohoe: Section 477C of the Taxes Consolidation Act 1997 provides for the Help-to-Buy (HTB) scheme.  It states that in order for a first time purchaser to be eligible for the HTB scheme, he or she must enter into a contract with a qualifying contractor.  If first-time purchasers do not purchase from a qualifying contractor, it is not an eligible house purchase. However, I am...

Written Answers — Department of Finance: Tax Reliefs Costs (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 130 and 181 together. I am advised by Revenue that the number availing of the rent relief tax credit, and the associated cost to the Exchequer, are available on the Revenue website at . The credit is available to those paying for private rented accommodation. This includes rent paid for flats, apartments or houses. It does not include rent paid to local...

Written Answers — Department of Finance: NAMA Portfolio (11 Sep 2017)

Paschal Donohoe: The Deputy will be aware that NAMA does not, in general, own land or property. Rather, NAMA’s role is as a secured lender and the properties which NAMA holds security over continue to be owned and managed by the original property owner, or insolvency practitioner where one is appointed. In relation to a breakdown of NAMA’s remaining portfolio, I would direct the Deputy towards...

Written Answers — Department of Finance: Departmental Consultations (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 132, 162 and 173 together. The consultation process on "the use of intermediary-type employment structures and self-employment arrangements and their impact on tax and PRSI" invited submissions from interested parties on possible measures to address the loss to the Exchequer that may arise under two sets of arrangements: - where an individual, who would...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: Following the liquidation of IBRC in February 2013 officials met with the Special Liquidators on a very frequent basis; however, given the progress being made on the liquidation, the frequency of these meetings has reduced as is to be expected. There were eight update meetings held between my officials and the Special Liquidators in 2016 and three update meetings have taken place so far this...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: I would like to draw the Deputy's attention to the most recent progress update report on the Special Liquidation of IBRC which was published on 5th May 2017 and which is available on the Department of Finance website: . The fees and all other third party costs as at 31 December 2016 are outlined in detail in this report. The costs of the Special Liquidators for the...