Results 23,741-23,760 of 34,379 for speaker:Paschal Donohoe

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: Yes.

Other Questions: Tax Collection (24 Oct 2017)

Paschal Donohoe: I am advised by Revenue that the National Asset Management Agency Act 2009 amended the Taxes Consolidation Act 1997 by providing for an 80% windfall tax on profits or gains arising from disposals of development land to the extent that those gains were attributable to a relevant planning decision. Section 31 of Finance Act 2014 repealed the 80% tax rate on these profits or gains with...

Other Questions: Tax Collection (24 Oct 2017)

Paschal Donohoe: I agree with many of the points made by Deputy Eamon Ryan. The hoarding of land and the lack of supply of land, especially the lack of zoned land and the pricing thereof, lies at the heart of many of the difficulties we are now facing in the housing market. I accept much of the analysis the Deputy has offered on this issue. Where I differ with him on the introduction of a so-called...

Other Questions: Tax Collection (24 Oct 2017)

Paschal Donohoe: As already stated, I agree with much of the analysis relating to the issue. I clearly said that I disagree with the solution the Deputy is proposing. I was clear on that. I disagree because it is my view that bringing in a tax such as that to which the Deputy refers could actually slow the release of land for the development of homes. That is my analysis of the issue. When seeking to...

Other Questions: Stamp Duty (24 Oct 2017)

Paschal Donohoe: I propose to take Questions Nos. 9 and 10 together. In my Budget Statement, I announced an increase in the stamp duty rate for all non-residential property transactions, including those relating to agricultural land, from 2% to 6%. On the recommendation of the Minister for Agriculture, Food and the Marine, I also announced an extension of consanguinity relief for another three years and...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: Prior to 2015, film relief took the form of an investor tax relief which provided an incentive to individual and corporate taxpayers to invest in Irish film production. The relief was granted by way of a deduction from total income of the amount invested for the year of assessment in which the qualifying film investment was made. The Finance Act 2013 amended the scheme such that, rather...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: I have a later question from Deputy Richard Boyd Barrett about this general issue and I have some broader figures in regard to the issue raised by Deputy Smith that I will be sharing with him as well. In regard to the two ways in which this scheme is overseen, it is done both at departmental level and then by the Revenue Commissioners. Regarding the work that happens through the Minister...

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: I think I know what the Deputy's question is; I believe she is referring to the report entitled, Consultation on the use of intermediary-type structures and self-employment arrangements-----

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: The Deputy raised that report with me in recent parliamentary questions. I have checked its status and I expect the report will be published very soon and may well provide a framework for, or insights into, dealing with this issue. In regard to the point Deputy Collins put to me, or rather Deputy Smith-----

Other Questions: Tax Reliefs Application (24 Oct 2017)

Paschal Donohoe: In regard to the point Deputy Smith put to me on the statistics on the operation of the scheme, I have the figures for 2016 and 2017 on the number of companies and films. For example, in 2016 it was 54 companies in respect of 74 films; and in 2017 up to the end of the first quarter, it was 15 companies in respect of 21 films. I have a list of all of the films or productions that received...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I again reject the allegation the Deputy has made. If, in the context of this measure, the best she can do is infer that I or my Department engaged in behaviour for which she has no evidence whatsoever, it points to the poverty of ideas she and the Labour Party are offering regarding our economy and how all of us want to move it forward. This is the right policy measure to put in place....

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I think the Deputy is realising just how spurious is the ground on which she is raising this matter. She is now talking about inadvertent leaking in contrast to the serious allegations-----

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: -----she levelled at me a moment ago.

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: As announced in my budget day speech on 10 October 2017, it is my intention to establish HBFI to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty obtaining debt funding or credit. HBFI will be a stand-alone entity that will provide funding directly into the market. It will be designed to leverage off the extensive expertise...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: The legislation is under preparation and I am confident that I will be in a position to publish it towards the end of this year and bring it before the House in the early part of next year. Regarding the terms and conditions relating to the credit and how it would be made available to companies, it must and will be made available on commercial and market-equivalent terms. In other words,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: It is my intention at this point that HBFI would primarily be focused on the private sector. The rationale behind this thinking is that in dealing with approved housing bodies and local authorities, my experience is that the issue they face is not the rate of interest on the credit they need. In many cases the funding they need is provided directly by the Exchequer. For this reason, my...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: I am not sure on what evidence the Deputy can conclude that I am in any way delaying on this issue. In terms of relevant timeframes, it has previously been the case that when a member state has co-operated in good faith with an understanding or direction from the Commission, the Commission will actively engage with the member state for at least two years before initiating proceedings in that...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Paschal Donohoe: I have indicated a timeline to the European Commission for the potential resolution of the matter. One of the reasons I cannot publicly indicate the likely point at which it will be concluded is we are having discussions and negotiations with a company in this regard and those have to conclude in a manner satisfactory for both parties. I aim to conclude the process as soon as possible,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: In 2011 the rate of stamp duty applying to non-residential property transactions was fixed at a flat rate of 2% as a supply-side measure. Budget 2018 increased the rate on such property transactions to 6% as of 11 October 2017. While the commercial property market has now recovered strongly, the recent sharp increase in investment in construction activity poses a risk that this could, if...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Paschal Donohoe: I categorically reject the absolutely unfounded allegations made by Deputy Burton. Because she agrees with the decision I made, she can do nothing beyond making unfounded and inaccurate allegations regarding my conduct and that of my Department. The decision on this matter was treated with the utmost sensitivity by my officials and me. During the time period to which the Deputy refers,...