Results 23,741-23,760 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (20 Jun 2017)

Paschal Donohoe: In December of last year, following a competitive procurement process, three firms were appointed by my Department to act as joint global coordinators to lead a selling syndicate in preparation for an AIB IPO.  On the 23rd of March this year I further announced the addition of five joint book runners and a co-lead manager to the syndicate.  The syndicate banks have been appointed...

Written Answers — Department of Finance: Departmental Contracts (20 Jun 2017)

Paschal Donohoe: The Department of Finance appointed Goldman Sachs International in December 2015 to provide financial advice to the Department on the capital restructuring of AIB and in respect of the State's investments in AIB. As is customary in these type of engagements, the Goldman Sachs team advising the department was subject to strict confidentiality agreements which preclude them from sharing...

Written Answers — Department of Finance: Tax Code (20 Jun 2017)

Paschal Donohoe: Alcohol Products Tax is governed in the first instance by the EU Directive on the harmonisation of the structures of excise duties on alcohol. It is not possible to apply different rates based on where alcohol products are sold. In recent years my officials have examined proposals to address below cost selling of alcohol products, including a proposal for a "lid-on" levy...

Written Answers — Department of Finance: Corporation Tax Regime (20 Jun 2017)

Paschal Donohoe: I note the proposals that were announced by the Trump Administration for tax reform in recent months.  At this stage, we have yet to see the substantive detail of the overall package that will be proposed by the Trump Administration. Agreement between the House of Representatives, the U.S. Senate and President Trump will be needed before any changes can be introduced.  The exact...

Written Answers — Department of Finance: Film Industry Tax Reliefs (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that prior to 2015, the Film Relief scheme, provided for by Section 481 Taxes Consolidation Act (TCA) 1997, operated by giving relief to individuals and companies investing in the film industry. The information in respect of the tax cost and number of investors who claimed relief under section 481 for the years 2004 to 2014 is available on the Revenue Commissioners...

Written Answers — Department of Finance: Living City Initiative (20 Jun 2017)

Paschal Donohoe: The Living City Initiative was originally introduced in Finance Act 2013 on a pilot basis to encourage the regeneration of the historic cities of Waterford and Limerick. As you may be aware, the original intention was to restrict the scheme to Georgian houses.  The particular focus of the scheme was to encourage people back to the centres of these cities to live in historic buildings, in...

Written Answers — Department of Finance: Motor Insurance (20 Jun 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...

Written Answers — Department of Finance: Appointments to State Boards (20 Jun 2017)

Paschal Donohoe: In response to the Deputy's question, I have been advised that no former TDs have been appointed to any of the eighteen bodies under the aegis of my Department by the public appointments service.

Written Answers — Department of Finance: Tax Code (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that there were outstanding compliance matters that gave rise to the company concerned being subject to a Relevant Contracts Tax deduction rate of 20%. There is one remaining compliance issue still to be resolved and once this is resolved the deduction rate will be amended to 0% by Revenue. I understand that Revenue will make direct contact with the company to clarify...

Written Answers — Department of Finance: Property Tax Exemptions (20 Jun 2017)

Paschal Donohoe: Local Property Tax (LPT) is a self-assessed tax that places the onus on property owners to correctly claim exemptions in accordance with the legislation as set down. As part of its LPT compliance programme, Revenue carries out ongoing checks to ensure the various exemptions are correctly claimed and must withdraw the relief and collect the outstanding liabilities where they are not...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (20 Jun 2017)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT, up to a certain limit, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Stability and Growth Pact (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 296 and 297 together. As the Deputy is aware projections of revenue and expenditure, as set out in Budget 2017 last October, were assessed as being broadly compliant by the European Commission. This included an expected deviation under the expenditure benchmark of approximately €200 million in relation to increased national contributions to the EU...

Written Answers — Department of Finance: Fiscal Policy (20 Jun 2017)

Paschal Donohoe: There are mechanisms for addressing non-compliance with the fiscal rules both domestically and in an EU Regulation, Council Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coodination of economic policies. The Fiscal Responsibility Act of 2012 enshrines fiscal policy rules in law and established the Irish Fiscal Advisory...

Written Answers — Department of Finance: Departmental Expenditure (20 Jun 2017)

Paschal Donohoe: I wish to advise the Deputy that my Department has not incurred any cost in designing, implementing and supporting the Eircode system in each of the years from 2011 to 2016 and to date in 2017. Since the introduction of Eircode, efforts made by my Department in implementing it include incorporating Eircodes into all departmental/office addresses on our websites, on new stationery and...

Written Answers — Department of Finance: Insurance Costs (20 Jun 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...

Written Answers — Department of Finance: Tax Reliefs Application (20 Jun 2017)

Paschal Donohoe: I am advised by Revenue that there are two forms of relief from Capital Acquisitions Tax (CAT) that are relevant in the circumstances outlined by the Deputy. The first, known as ‘agricultural relief’, may apply to reduce the taxable value of a gift or inheritance of agricultural property, including land, by 90% once certain conditions are satisfied. The second, referred to...

Written Answers — Department of Finance: Departmental Schemes (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 302 and 304 together. The Living over the Shop (LOTS) incentive was introduced in 2001 in the five city boroughs of Cork, Dublin, Galway, Limerick and Waterford. It provided relief of 100 per cent for eligible expenditure on the refurbishment or conversion of under-utilised space for residential accommodation at a rate of 10 per cent per annum over 10...

Written Answers — Department of Finance: Housing Issues (20 Jun 2017)

Paschal Donohoe: The NTMA have confirmed to my officials that it has not been possible to meet the deadline for the Rebuilding Ireland Action. Despite this in the social and affordable market, in line with Rebuilding Ireland commitments, the Ireland Strategic Investment Fund (ISIF) and a number of key Government Departments are continuing to examine the feasibility of establishing a funding vehicle,...

Written Answers — Department of Finance: Tax Exemptions (20 Jun 2017)

Paschal Donohoe: Finance Act 2016 contained a number of measures in relation to IREFs, including Stamp Duty exemptions intended to facilitate the transfer of a business out of an IREF and into a legal structure in which it would be more normal to see such a business conducted.  These Stamp Duty exemptions are: - Section 739V (5) of the Taxes Consolidation Act (TCA) 1997, in respect of a transfer of the...

Written Answers — Department of Finance: Tax Exemptions (20 Jun 2017)

Paschal Donohoe: I am informed by the Revenue Commissioners that the information furnished on VAT returns does not require the yield from particular trades or activities to be separately identified, the VAT incurred on property management fees is not readily identifiable. Therefore, it is not possible to provide the cost of exempting IREF funds from VAT on property management fees. The Deputy may wish to...