Results 23,701-23,720 of 33,392 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Banking Sector (13 Jul 2017)

Paschal Donohoe: I can confirm for the Deputy that the State's shareholding in BOI, prior to the rights issue in July 2011, was 36%.

Written Answers — Department of Finance: State Banking Sector (13 Jul 2017)

Paschal Donohoe: I can confirm for the Deputy that, in July 2011, a group of North American investors agreed to buy up to 10,511m ordinary shares in Bank of Ireland from the State.  The purchase was completed in two tranches: July 2011 - an initial unconditional purchase of 2,382m shares. October 2011 - following receipt of regulatory clearances by the investors, a second...

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

Paschal Donohoe: The supply of financial services is VAT exempt across all EU Member States in accordance with Article 135 of the EU VAT Directive.  Imposing VAT on financial services would require a change to the VAT Directive applicable to all Member States.  Ireland could not make such a decision unilaterally.   The information provided to the Revenue Commissioners on tax...

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

Paschal Donohoe: I propose to take Questions Nos. 206 to 208, inclusive, together. In order to estimate the potential revenue from a wealth tax, it is necessary to identify the wealth held by individuals. As there is currently no such wealth tax in operation in Ireland, the Department understands that the Revenue Commissioners have no basis or requirement to compile the data needed to produce estimates in...

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

Paschal Donohoe: I am informed by Revenue that the estimated amount that could be raised by increasing stamp duty on commercial property to 6% is €372 million.

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

Paschal Donohoe: It is not possible from Revenue data to accurately estimate the yield from introducing a financial transactions tax of 0.1% on securities and 0.01% on derivatives. However, the Deputy may be interested to note that the yield from a 0.1% increase in stamp duty transactions on all shares would be in the region of €43 million.

Written Answers — Department of Finance: Universal Social Charge Data (13 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 211 to 214, inclusive and Nos. 226 to 228, inclusive, together. I am advised by the Revenue Commissioners that the amount of Universal Social Charge (USC) collected annually since its introduction in 2011 to 2016, from both PAYE and Schedule D (self-assessed) income earners, is as set out in the following table. It should be noted that the breakdown (being...

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

Paschal Donohoe: I propose to take Questions Nos. 215 to 218, inclusive, together. I am advised by Revenue that it is not possible to accurately estimate the additional revenue that may be brought in from increasing the 12.5% corporation tax rate to either 25% or to the effective rate of tax for workers on the median wage. This would require ex ante knowledge of any behavioural changes on the part of...

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

Paschal Donohoe: I am advised by Revenue that the full year yield to the Exchequer from increasing the capital gains tax rate from 33% to 40% could be in the region of €207 million. This figure includes the gain from increasing the tax rate on corporate gains. This estimate assumes no behavioural changes on the part of taxpayers, and increases in rates may have a significant behavioural impact...

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

Paschal Donohoe: I propose to take Questions Nos. 220 and 223 together. I am advised by Revenue that within the tax code there are a number of tax reliefs associated with property and land but not specifically for use by property developers or land owners.  The available statistics in relation to annual costs are on the Revenue website at . Updates will be published in due course. Of particular...

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

Paschal Donohoe: I am advised by Revenue that on the basis of information included in the Corporation Tax returns filed for the tax year 2015, the potential yield from imposing a 2% levy on the profits of private human health and pharmaceutical companies, including nursing homes and home care agencies, is tentatively estimated to be in the region of €200 million, with over 99% from the pharmaceutical...

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

Paschal Donohoe: I take it the Deputy is referring to proposals made by the IMF in 2010. In its 2010 report to the G-20 the IMF suggested three forms of FAT. The IMF considered that the revenue potential of the various forms of FAT would differ across countries, depending on the relative size, profitability and wage structures of their financial sectors, and would be constrained by the need to apply low...

Written Answers — Department of Finance: National Debt Servicing (13 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 224 and 225 together. General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO) and is the measure used for comparative purposes across the European Union. National Debt is effectively a domestic measure as it is the net debt incurred by the Exchequer after taking account of...

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

Paschal Donohoe: I propose to take Questions Nos. 229 and 233 together. In relation to Question 34538/17, I am informed by Revenue that the gross rental income (residential and commercial) declared on Income Tax returns is in the order of €4,573 million for 2011, €4,446 million for 2012, €4,301 million for 2013 , €4,322 million for 2014 and €4,321 million for 2015, the...

Written Answers — Department of Finance: NAMA Portfolio Value (13 Jul 2017)

Paschal Donohoe: I am advised that information relating to NAMA’s remaining loan portfolio is available in NAMA’s Annual Report and Financial Statements 2016 which was published on 1 June 2017 and is available via . The concentration of NAMA’s remaining loan portfolio by sector and geography based on the value of underlying security is outlined in charts on page 46 of the 2016 Annual...

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

Paschal Donohoe: I propose to take Questions Nos. 231 and 232 together. In relation to Question 34540/17,  I am informed by Revenue that a tax on second and subsequent properties based on existing rates of LPT plus an additional €600 for the second property and €1,000 on all subsequent properties, would have an annual yield in the region of €284 million. This is based on those...

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

Paschal Donohoe: The Central Bank of Ireland publishes a wide variety of statistics, the data is however, provided on an aggregate basis and does not include loan exposures outside this jurisdiction. Table A.14 of the Central Bank of Ireland’s Business Credit and Deposits statistics relates to the Deputy's question and provides information on bank credit advanced to Irish resident private-sector...

Written Answers — Department of Finance: National Minimum Wage (13 Jul 2017)

Paschal Donohoe: In response to the Deputy's question, I have been advised that of the 18 Bodies under the Aegis of my Department, 6 would have a cost of introducing a minimum wage of €15 per hour for all employees. The information provided by the relevant bodies is listed in the following table: Body Cost of introducing a minimum wage of €15 an hour for all employees under the aegis of his...

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

Paschal Donohoe: In response to the Deputy's question, I have been advised that of the 18 Bodies under the Aegis of my Department, 8 would have a cost to introduce a minimum weekly gross wage of €600 for all full-time employees. The information provided by the relevant bodies is listed in the following table: Body The cost to introduce a minimum weekly gross wage of €600 for all full time...

Written Answers — Department of Finance: Knowledge Development Box (13 Jul 2017)

Paschal Donohoe: I am advised by Revenue that the Knowledge Development Box (“KDB”) was introduced with effect from 1 January 2016. The earliest Corporation Tax returns claiming the KDB would therefore be 2016 returns, the bulk of which are not due to be filed until later this year. When these returns have been filed and subsequently processed and analysed, Revenue will be in a position to...