Results 23,641-23,660 of 33,392 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs Availability (13 Jul 2017)

Paschal Donohoe: Section 114 of the Taxes Consolidation Act 1997 provides for a tax deduction in respect of travel expenses which an employee or office-holder is necessarily obliged to incur in the performance of the duties of the office or employment.  However, in this regard, return travel from home to work is not an allowable expense. I am aware that the matter has been raised previously in relation...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (13 Jul 2017)

Paschal Donohoe: The National Treasury Management Agency inform me that Activate Capital (Activate) is a €500 million joint venture established by the Ireland Strategic Investment Fund (ISIF) and global investment firm KKR, and financed through a €325 million senior loan note from ISIF and a €175 million junior loan note from KKR.  Activate advances up to 90% of the project funding...

Written Answers — Department of Finance: Tax Reliefs Data (13 Jul 2017)

Paschal Donohoe: I am advised by Revenue that the number of mortgage holders in receipt of tax relief at source in respect of mortgage interest for the year 2016, the latest year for which data are available, is in the order of 419,400 claimants. The provisional cost to the Exchequer in 2016 for claimants is just over €184 million. A forecast for 2017 is not available. At present, Section 244 of...

Written Answers — Department of Finance: Insurance Data (13 Jul 2017)

Paschal Donohoe: At the outset, the Deputy should note that as Minister for Finance, I am not responsible for the operation of the Declined Cases Agreement and therefore I do not have direct access to the data that is being requested.  However, in order to be as helpful as I can, my officials contacted Insurance Ireland about your information request.  In response they have...

Written Answers — Department of Finance: VAT Exemptions (13 Jul 2017)

Paschal Donohoe: Charities and non-profit groups engaged in non-commercial activity are exempt from VAT under the EU VAT Directive, with which Irish VAT law must comply.  This means they do not charge VAT on the services they provide and cannot recover VAT incurred on goods and services that they purchase. Following representations made by the Irish Charities Tax Reform Group (ICTR) over a number of...

Written Answers — Department of Finance: Insurance Costs (13 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 126 to 128, inclusive, together. The Cost of Insurance Working Group has met 21 times to date.  It met for the first time on 20 July 2016 and held its most recent meeting on 5 July 2017. The Cost of Motor Insurance was the focus of its twelve meetings in 2016.  The nine meetings which have taken place since the beginning of this year have...

Written Answers — Department of Finance: Tax Reliefs Availability (13 Jul 2017)

Paschal Donohoe: I assume the Deputy is referring to a tax relief that would be similar in scope as that provided for donations to approved bodies under Section 848A of the Taxes Consolidation Act 1997 (TCA). As the Deputy may be aware, changes were made to that scheme of tax relief in Finance Act 2013 as follows: 1. Donations from all individual donors under the scheme are...

Written Answers — Department of Finance: Tax Reliefs Availability (13 Jul 2017)

Paschal Donohoe: I am informed by Revenue that a gift or an inheritance which is taken for public or charitable purposes is exempt from both gift tax and inheritance tax and is not taken into account when computing tax to the extent that Revenue is satisfied that it has been, or will be, applied for purposes which in accordance with the laws of the State are public or charitable. As an exemption along...

Written Answers — Department of Finance: Departmental Reports (13 Jul 2017)

Paschal Donohoe: The Interdepartmental Group which was established to consider the tax treatment of solar panels on farmland is expected to report to me soon. The work of the group is ongoing and the report is being prepared. I will consider the report's recommendations in the context of Budget 2018/Finance Bill 2017.

Written Answers — Department of Finance: Tax Data (13 Jul 2017)

Paschal Donohoe: I am advised by Revenue that the information in respect of the Exchequer cost of the Research and Development (R&D) tax credit for the years 2012 to 2014 is available on the Revenue Statistics webpage at . The exchequer cost and number of cases for the R&D tax credit for 2012, 2013 and 2014 was as follows: Year Cost €m Number of Cases 2012 281.9 1543 2013 421.4...

Written Answers — Department of Finance: Revenue Commissioners Data (13 Jul 2017)

Paschal Donohoe: I am advised by Revenue that interest charged on the late payment of tax is a statutory charge legislated for by the Oireachtas and provided for in Section 1080 of the Taxes Consolidation Act 1997.  Revenue is obliged to factor this charge into all of its compliance intervention programmes. I am satisfied that collection of interest by Revenue is a key element in reflecting the value of...

Written Answers — Department of Finance: Departmental Expenditure (13 Jul 2017)

Paschal Donohoe: As the Deputy is aware, in line with the State agreements with AIB, all fees incurred by the State in relation to the IPO will be paid by the bank. Following a successful transaction, fees are payable to the selling syndicate of investment banks and are proportionate to the value of the transaction. The fees that have been negotiated by my officials are approximately 0.4% of the value of...

Written Answers — Department of Finance: Revenue Commissioners Investigations (13 Jul 2017)

Paschal Donohoe: I am advised by Revenue that their programme of compliance interventions in relation to the tax affairs of medical consultants is continuing.  As indicated in replies to previous questions by my predecessor Minister Noonan on this matter from the Deputy earlier in 2017, the main focus of Revenue's work continues to be the tax issues arising from the incorporation of medical consultants'...

Written Answers — Department of Finance: IBRC Liquidation (13 Jul 2017)

Paschal Donohoe: As outlined in the most recent progress update report which was published on the 5th May 2017 and which is available on the Department of Finance website (the Special Liquidators have cash receipts on hand of c. €1.9bn as at 6th February 2017. An interim dividend of 25% was paid to all admitted unsecured creditors of the liquidation, including the State, in December 2016. The...

Written Answers — Department of Finance: Central Bank of Ireland Staff (13 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 137 and 142 together. I am advised by the Central Bank that there are 172 active vacancies within the Central Bank, which are detailed in the table below. Each role is advertised internally and externally for a minimum of 2 weeks, and roles within Operations and Financial Regulation take on average 8 weeks to fill with Central Banking roles being filled on...

Written Answers — Department of Finance: Brexit Staff (13 Jul 2017)

Paschal Donohoe: I have been previously informed by the Central Bank that staff from across all three pillars of the Bank are working on various aspects of "Brexit".  The Governor of the Central Bank has stated that, if necessary, staff will be deployed to deal with increases in the authorisation pipeline and will reprioritise workload as appropriate. Should there be a marked...

Written Answers — Department of Finance: Brexit Staff (13 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...

Written Answers — Department of Finance: Departmental Staff Data (13 Jul 2017)

Paschal Donohoe: All resources and vacancies in my Department are managed through a robust Workforce Planning process. I wish to inform the Deputy that as at 13 July 2017 there are 18 vacancies in my Department, details of which are outlined in the following table: Division Number of vacancies Banking Division - FMU 3 Economic Division 3 EU & International Division 2...

Written Answers — Department of Finance: Departmental Staff Data (13 Jul 2017)

Paschal Donohoe: I wish to inform the Deputy that as at 30th June there were 318 (WTE 308.53) employees working in my Department. Included in that figure are 12 staff seconded from the NTMA to the Shareholding & Financial Advisory Division in my Department.

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (13 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 143 and 144 together. I am informed by the Central Bank that it has found approximately 128 firms/individuals to be conducting unauthorised activities in the years 2011-2016 inclusive. These unauthorised firms have been the subject of Central Bank warning notices. 110 refer to unauthorised Investment Firms, 6 refer to unauthorised Credit Institutions, 6 are in...