Results 221-240 of 33,833 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Savings Schemes (8 Sep 2025)

Paschal Donohoe: I would say that proposals related to the financing of the delivery of social and affordable housing, including this proposal from the Deputy, are a matter for consideration by my colleague, Mr. James Browne T.D., Minister for Housing, Local Government and Heritage.

Written Answers — Department of Finance: Tax Code (8 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 478 and 500 together. Capital Acquisitions Tax (CAT) is a beneficiary-based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as...

Written Answers — Department of Finance: Insurance Industry (8 Sep 2025)

Paschal Donohoe: The Programme for Government commits to a comprehensive series of actions aimed at improving affordability, availability and transparency across the insurance sector. One of the first steps to deliver on these commitments is the new Action Plan for Insurance Reform, which was published by the Government on 24th July. As part of the development of the new Action Plan, my Department...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am advised by Revenue that the estimated first and full year yield to the Exchequer of the Deputy’s proposal would be €405 million and €505 million respectively. This would have the result of increasing the top USC rate on PAYE income from 8 per cent to 11 per cent and for non-PAYE income from 11 per cent to 14 per cent.

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am informed by Revenue that the yield from increases in the rate of stamp duty on non-residential property is shown is shown in their "Ready Reckoner" (www.revenue.ie/en/corporate/documents/statistics/ready-reck oner.pdf) at page 18. While the exact changes outlined in the question are not included in the document, the changes can be estimated on a straight-line mathematical basis. It...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am advised by Revenue that it is not possible to provide the details sought. Revenue is unable to provide an estimation with regards to the estimated savings associated with restricting the employer PRSI exemption to SMEs on a first and full year basis. However, Revenue advise that the savings associated with the removal of the existing employer PRSI exemption, that may apply to...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am informed by Revenue that as details of share buy backs are not reported on tax returns, there is no data on which to base an accurate estimate of the revenue that would be raised by applying an additional 1% Stamp Duty to all share buybacks. It should be noted that information in respect of general increases in relation to stamp duty on shares is included in the stamp duty area of...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable to provide a costing for changes to the SFT. Information on the numbers and values of individual pension funds or on...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: I am informed by Revenue that data on private jet departures is not readily available. However, CSO data on unscheduled departures from Irish main airports (excluding private airports) indicates an average of around 3,000 departures annually. Reports referencing data contained within the Aviation Intelligence Portal suggest more than 6,000 departures of private jets in 2022. Based on this...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. The level of support available to first time buyers under the HTB...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 (TCA 1997) deals with the taxation regime for special purpose vehicles (SPVs) established in Ireland to securitise assets. Revenue advise that section 110 companies are not permitted to own Irish property assets (land and buildings) directly and so no costing can be provided. Finance Act 2016 made certain changes to the taxation of...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: Revenue advise that section 110 companies are already subject to corporation tax in respect of all profits and gains. Finance Act 2016 made certain changes to the taxation of qualifying companies under section 110 TCA 1997. The changes, which included the introduction of a new subsection (5A), relate to the taxation of profits derived from the business of qualifying companies that...

Written Answers — Department of Finance: Tax Data (8 Sep 2025)

Paschal Donohoe: The Central Bank publishes data on a quarterly basis relating to the activities undertaken by Irish registered Special Purpose Entities (SPE). Data is broken down between Financial Vehicle Corporations (FVC) as defined by European Central Bank Legislation (ECB) and ‘Other’ SPEs. FVCs refer to Securitisation SPEs, while Other SPEs refer to all other activities undertaken by SPEs...

Written Answers — Department of Finance: Tax Code (8 Sep 2025)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. In the Programme for Government 2025 it was pledged to support SMEs, particularly those in the retail and hospitality sectors, by examining changes to VAT, PRSI and other measures. Any...

Written Answers — Department of Finance: Tax Credits (8 Sep 2025)

Paschal Donohoe: I am advised by Revenue that section 469 of the Taxes Consolidation Act (“TCA”) 1997 provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a...

Written Answers — Department of Finance: Departmental Equipment (8 Sep 2025)

Paschal Donohoe: Revenue have advised that following a procurement process, a contract for the delivery of a new Revenue Customs Cutter was signed with AuxNaval in August 2023. The new vessel, RCC Cosaint, was delivered ahead of schedule in August 2025 and is currently engaged in training and familiarisation exercises in transition to active patrol duties. RCC Cosaint will replace RCC Suirbhéir which...

Written Answers — Department of Finance: Tax Exemptions (8 Sep 2025)

Paschal Donohoe: Professional Services Withholding Tax (PSWT) is a deduction at the standard rate of income tax, currently 20%, from relevant payments made by accountable persons to specified persons in respect of certain professional services. Accountable persons include Government Departments, commercial and non-commercial State agencies and bodies, local authorities, the HSE and authorised medical...

Written Answers — Department of Finance: Tax Reliefs (8 Sep 2025)

Paschal Donohoe: Capital gains tax (CGT) may arise in respect of gains arising on the disposal of an asset at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Existing legislation does not provide for a preferential CGT rate on the disposal by landlord of a property let for the purposes of social housing at below-market rates over an extended...

Written Answers — Department of Finance: Tax Yield (8 Sep 2025)

Paschal Donohoe: The EU-US Joint Statement on Trade was published last month. While the imposition of tariffs is, of course, regrettable, this agreement represents an important milestone and provides a level of certainty and predictability about the future of transatlantic trade policy. My Department and the ESRI published an analytical paper in March which modelled several tariff scenarios in order to...

Written Answers — Department of Finance: Tax Code (8 Sep 2025)

Paschal Donohoe: Capital Gains tax (CGT) is a broad ranging tax applying across a wide range of areas some of which have been highlighted in the Deputy’s PQ. Each year CGT is examined as part of the annual Capital Taxes Tax Strategy Group exercise. The resultant paper outline the tax policy considerations for the Government and the options available to it in forming this year’s Budget....