Results 23,521-23,540 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tracker Mortgages Examination Data (4 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, the Tracker Mortgage Examination Framework requires lenders to appoint an external independent party to oversee the conduct of their Examination. However, the Central Bank has advised that it is a matter for individual firms to disclose these and any other costs incurred by them in respect of the Tracker Mortgage Examination. In respect of the...

Written Answers — Department of Finance: Tax Data (4 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 88 to 91, inclusive, together. As regards Questions 88 and 89, Approved Retirement Funds (ARFs) are investment vehicles into which the proceeds of the pension savings of the self-employed, business owners and any individual with Defined Contribution pension arrangements may be invested at retirement, subject to conditions. Beneficial ownership of the...

Written Answers — Department of Finance: Tax Collection (4 Jul 2017)

Paschal Donohoe: I am advised by Revenue that under what is termed as “new basis” business, all life assurance policy holders are taxed on a gross roll-up basis.  This means that the life assurance company is not subject to tax on its policy holder profits, but rather the policy holder is subject to exit tax on the happening of a chargeable event.  A chargeable event will occur: - on...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (4 Jul 2017)

Paschal Donohoe: The Help to Buy incentive aims to both assist those first-time buyers struggling to save for the deposit required to purchase a home, as well as incentivising additional construction activity for the provision of extra housing supply. At Budget time it was estimated that the Help to Buy incentive would cost €40 million per annum but €50 million in 2017 due to the backdating of...

Written Answers — Department of Finance: Tax Rebates (4 Jul 2017)

Paschal Donohoe: I am advised by Revenue that a refund of tax for 2016 was made by direct credit to the nominated bank account of the authorised agent of the person concerned on 16 February, 2017.

Written Answers — Department of Finance: Tax Agreements (4 Jul 2017)

Paschal Donohoe: It is my policy to treat plans or negotiations for double taxation agreements as confidential until they are signed, at which point they are published on Revenue's website. This is a normal practice for most jurisdictions, which respects the confidential nature of the negotiation process. Ireland, along with all EU partners, adheres to the "One China" policy and as a result does not...

Written Answers — Department of Finance: VAT Rate Increases (4 Jul 2017)

Paschal Donohoe: I am informed by the Revenue Commissioners that it is tentatively estimated the additional yield from changing the rate of VAT on commercial construction to the standard rate would be in the region of €240m. As the information provided to Revenue on tax returns does not require traders to identify the yield generated from specific transactions or types of activities, this estimate...

Written Answers — Department of Finance: NAMA Operations (4 Jul 2017)

Paschal Donohoe: The pending implementation of the 2014 revised EU Audit Directive and Regulations underpinning the Deputy’s question was first brought to the attention of my officials in the Department of Finance in respect of the potential impact for NAMA in May 2016 by officials within the Department of Jobs, Enterprise and Innovation (DJEI) responsible for transposing this directive into Irish law....

Written Answers — Department of Finance: Tax Compliance (4 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 98 to 100, inclusive, together. I am assuming that the reference to the meeting with the Public Accounts Committee is in fact the meeting on Wednesday 7 December 2016 with the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach where Revenue participants discussed matters pertaining to the issue with that committee. I am not aware of...

Written Answers — Department of Finance: Central Bank of Ireland Staff (4 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 101 and 102 together. The Central Bank periodically has an informal exchange of views with the Department of Public Expenditure and Reform on the resourcing issues facing the public sector. I am informed by the Central Bank that while recruitment for positions across the Bank is challenging, and turnover in certain areas, including in Financial...

Written Answers — Department of Finance: Credit Union Regulation (4 Jul 2017)

Paschal Donohoe: Commitments identified in the Programme for a Partnership Government relating to credit unions and their progress are as follows: 1. The rollout and extension of the Personal Microcredit Scheme, which is providing simple microloans to members and helping to combat the use of moneylenders. The Personal Microcredit Scheme was commenced on a pilot basis in November 2015, involving 30 credit...

Written Answers — Department of Finance: Mortgage Interest Rates (4 Jul 2017)

Paschal Donohoe: The issue of mortgage rates is a significant one for this Government. The Government has initiated a number of important and practical initiatives which have the potential to improve the position of mortgage holders, including variable rate mortgage holders. Firstly the Government wishes to maintain and promote the level of competition in the supply of mortgage finance. To that end, the...

Written Answers — Department of Finance: Credit Unions (4 Jul 2017)

Paschal Donohoe: Credit unions have a key role to play in providing access to credit and other important services in local communities throughout the country. The sector has undergone fundamental change since 2011, managing many complex and challenging issues. For example, following the establishment of the Credit Union Restructuring Board (ReBo), there have been 82 mergers involving 156 credit unions...

Written Answers — Department of Finance: Banking Sector Remuneration (4 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 106 and 107 together. As the Deputy will be aware, the previous Government placed restrictions on various types of remuneration in the Irish banks that were recapitalised by the State and these restrictions remain in place. Hence there cannot be any bonus, dividend or incentive payments for AIB’s executives or staff linked to the IPO of AIB.

Written Answers — Department of Finance: Brexit Data (4 Jul 2017)

Paschal Donohoe: I wish to inform the Deputy that the Assistant Secretary who heads the EU and International Division of my Department has been designated as the lead official in the Department for Brexit matters. A dedicated Brexit Unit within the EU and International Division was established in July 2016 to oversee and coordinate Brexit work across the entire Department and to act as a key liaison point,...

Written Answers — Department of Finance: Fuel Prices (4 Jul 2017)

Paschal Donohoe: The price of petrol and diesel sold at the garage forecourt is determined by a number of factors including taxation, the price of the raw material, the prevailing exchange rates as well as the fact the different wholesalers can enter into forward contracts at different rates for the purchase of oil. There are two elements of tax in the final price of a litre of fuel, the excise rate and...

Written Answers — Department of Finance: Insurance Industry Regulation (4 Jul 2017)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: Employment Data (4 Jul 2017)

Paschal Donohoe: We are currently seeing very positive signs in the labour market. Total employment, which has passed the two million mark, is at its highest level since 2008. Encouragingly, the labour market recovery remains broad based with gains recorded in all sectors and at all levels of occupational status last year. The composition of growth also remains strong driven by gains in full-time...

Written Answers — Department of Finance: Tax Yield (4 Jul 2017)

Paschal Donohoe: I am informed by Revenue that the rate of duty on tobacco products in each of the past ten years is provided in a table: Year Cigarettes Cigars Roll your own tobacco Other smoking tobacco 2007 €151.37 per 1000 cigarettes plus 17.78% of the retail price. €217.388 per kilogram €183.443 per kilogram €150.815 per kilogram 2008 €160.57 per 1000 cigarettes...

Written Answers — Department of Finance: Tax Code (4 Jul 2017)

Paschal Donohoe: Under section 18 of the Taxes Consolidation Act (TCA) 1997, rental income earned by both Irish resident and non-Irish resident companies and individuals from a property situated in the State is taxable under Case V of Schedule D of the TCA 1997. This basis of taxation makes no distinction between rental income from property let for residential occupation and property let for commercial...