Results 221-240 of 34,380 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank all the Deputies who have raised this important matter. As opposed to speaking down through the section, because we all know what is in the section, I will just deal with the matter that has been raised. I understand the concern colleagues have in relation to this. The setter of policy in this area is the Department of Foreign Affairs and Trade. I am happy to consult with the...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I will group the Deputy's questions together. First, as to why the scheme has been extended to the Philippines and Türkiye, this is on foot of engagement my Department had with the Department of Enterprise, Tourism and Employment and Enterprise Ireland. We are guided by them in the expansion of the scheme. I very much want to avoid a situation where the scheme is made broadly...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: The situation outlined by Deputy Doherty is possible, but there is one caveat, which is that the person must be resident in Ireland. People availing of the deduction must be resident in Ireland and abroad doing the work in order to qualify for the scheme. While it is possible for that to happen, and I am happy to go away and examine the scheme to see if there is any evidence of it...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputies for raising the points there. The reason I am extending this scheme is I believe that schemes like this play an important role in the retention of certain jobs and the individuals who do those jobs within our State. That, in turn, is part of the competitiveness of our economy that, in turn, creates the tax revenue we need to pay for that nurse or teacher and our public...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I do not believe that the scheme has a material effect on inequality, because of the relatively low number of people who claim it.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: The amendments relate to the temporary reduction applied to the OMV of cars in categories A1 to D, inclusive, and all vans for the purpose of determining the benefit-in-kind, BIK, payable. The amendments seek to have the OMV reduction remain at €10,000 until 31 December 2028 in contrast to the tapering out of the relief provided for in the Bill as it stands. The Government remains...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: We do not do a sectoral analysis on what impact this policy would have on particular forms of employment. I am reminded, however, that the BIK rate for vans is already very low. It is at a low level. I will just emphasise the point I made a few moments ago that many years have passed since the Finance Bill 2019 and by the time we get to 2029, a decade will have passed since the original...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes. Will I deal with the questions now?

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I emphasise to Deputy Farrell that the higher the business mileage, the lower the rate of BIK. That is the way aim to deal with the point she referred to. For a car in category A doing under 26,000 km, it is 22.5%. If the same vehicle is used to deliver over 48,000 km, the BIK rate falls to 9%. That is the way the tax code aims to deal with the issue she referred to. Deputy Doherty...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I will make two points. The removal of the OMV applies to all cars. It applies to electric vehicles as well. The intent is not to try to make people worse off but I accept that it will, over a number of years, have an effect on people and the cost involved in the running of cars. While we are not where we need to be with the availability of electric vehicles and the reduction of carbon...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: There are very few cars in category E.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: They do have the highest rates of BIK, however.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputies. I will speak to both amendments as they both relate to the standard fund threshold, which sets the maximum amount for tax-relieved pension at retirement. Where a pension exceeds the SFT, the excess over the threshold is subject to an upfront, ring-fenced income tax charge at 40%. The SFT forms part of the taxation framework for pensions that applies to all pensions in...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I will get the answer to the Deputy's question and if he has any other question I will put the answers together and come back to him.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes, there are indeed some differences with regard to how chargeable excess tax is paid between private pensions and public sector pensions. The main difference is that public sector workers are permitted to spread their CET over 20 years and the reason is that the State administers the pension, and that option is not available for individuals in the private sector. However, this is...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: First, in relation to individuals, in the answer I gave to Deputy Doherty I outlined the great difficulty we face in terms of trying to estimate the number of individuals this could apply to and how we have used the CET to try to surmise the number of people who could be affected. In each year from 2026 to 2030, our estimate - it is only an estimate - is that there are 224 individuals who...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I can give them to the Deputy again.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: It was 224.