Results 221-240 of 33,883 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Yield (17 Sep 2025)

Paschal Donohoe: Business activity is identified using the Pan European Nomenclature of Economic Activities (NACE) statistical classification code. I am advised by Revenue that information on the specific activities requested is not separately identifiable because the NACE classification system does not uniquely identify such activities. However, the Deputy may be interested to note the net collection in...

Written Answers — Department of Finance: Tax Credits (17 Sep 2025)

Paschal Donohoe: There are currently no specific reliefs or supports in place for the fashion and design industry. As a small open economy, connected to Europe, the US and the wider world, Ireland has been and is committed to a competitive, transparent and stable corporation tax system. The trading profits of companies in Ireland are generally taxed at the standard corporation tax rate of 12.5%, with...

Written Answers — Department of Finance: Departmental Policies (17 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 292, 293 and 294 together. Tax relief for costs relating to assistance dogs may currently be available under section 469 of the Taxes Consolidation Act (“TCA”) 1997. Section 469 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...

Written Answers — Department of Finance: Tax Credits (17 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 295 and 296 together. As the Deputy will appreciate, decisions regarding taxation measures are made in the context of the annual Budget and Finance Bill processes, at the appropriate time, and having regard to the sound management of the public finances. It is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law is required to comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which...

Written Answers — Department of Finance: Departmental Policies (17 Sep 2025)

Paschal Donohoe: The Tax Strategy Group (TSG) is in place since the early 1990s and is chaired by the Department of Finance with membership comprising senior officials and political advisers from a number of Civil Service Departments and Offices. Its terms of reference are as follows:To examine and develop proposals for measures in the areas of taxation, PRSI and levies, for Budget and Finance Bill within...

Written Answers — Department of Finance: State Bodies (17 Sep 2025)

Paschal Donohoe: The NTMA has advised me that ISIF committed in 2018 and 2020 to invest up to €25m to the Irish Whiskey Growth Fund. As per the 2024 NTMA Annual report, as at the end of December 2024, ISIF has a commitment of €22m to the Irish Whiskey Growth Fund. The Fund provides capital to Irish whiskey distilleries by way of stock-finance or direct stock-purchasing, supporting the growth of...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice for the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. The 2012 report of the Inter-departmental Group on the Design of a Local Property Tax comprehensively examined the basis of assessment for the Local Property Tax (LPT), including both the...

Written Answers — Department of Finance: Tax Reliefs (17 Sep 2025)

Paschal Donohoe: I thank the Deputy for clarifying that his question relates to Capital Gains Tax retirement relief and Capital Acquisitions Tax agricultural relief. Prior to Finance Act 2017, agricultural land which was leased for solar panels was not classified as qualifying agricultural property for the purposes of Capital Gains Tax retirement relief or agricultural relief from Capital Acquisitions...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: An Investment Limited Partnerships (ILP) is a partnership agreement between one or more general partners and one or more limited partners under the ILP 2020 Act. ILPs are one of the five legal entity options for Irish domiciled funds. ILPs are commonly used to invest in private market assets such as equity and debt issued by privately owned companies. ILPs authorised on or after 13...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: The purpose of anti-hybrid and anti-reverse-hybrid rules is to prevent arrangements that exploit the differences in the tax treatment of an instrument or entity arising from the way in which that instrument or entity is characterised under the tax laws of two or more territories to generate a tax advantage or a mismatch outcome. These rules were implemented in Ireland as part of Ireland's...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: A Participation Exemption for Foreign Dividends was introduced in Finance Act 2024 to provide an optional alternative simplified method of double tax relief in addition to the existing double taxation relief provisions. The exemption for qualifying dividends reduces the complexity and administrative burden of the current system of double tax relief. The objective of the participation...

Written Answers — Department of Finance: Departmental Policies (17 Sep 2025)

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 provides for the taxation of certain Special Purpose Entities (SPEs) and was introduced to support securitisation. It was designed as a tax neutral regime for securitisation transactions. My predecessor Minister Chambers published the Report of the Funds Sector Review 2030 on the 22 October 2024. This report fulfilled the recommendation...

Written Answers — Department of Finance: Departmental Data (17 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 306, 307, 308 and 309 together. The Central Bank of Ireland, as part of its independent mandate to preserve financial stability and to protect the consumer, has statutory responsibility for the regulation of mortgage lending by banks and other regulated entities. In line with this mandate, there are a certain regulatory requirements Central Bank...

Written Answers — Department of Finance: Departmental Data (17 Sep 2025)

Paschal Donohoe: The marginal tax rate is described as the tax rate that applies to the last euro of the tax base. Marginal tax rates are important because they may influence individual decisions to work more or indeed to work at all. My Department continues to monitor and analyse research produced in this area. The OECD publishes an annual Taxing Wages report. Amongst other metrics the report provides...

Written Answers — Department of Finance: Tax Exemptions (17 Sep 2025)

Paschal Donohoe: I am advised by Revenue that an increase in the Small Gift Exemption can not be costed as it is not possible to forecast the number of people who would avail of or benefit from the increased level of the exemption, and to what amount.

Written Answers — Department of Finance: Revenue Commissioners (17 Sep 2025)

Paschal Donohoe: I am advised by Revenue that the capital budget allocations for the Revenue Commissioners in the years 2023, 2024 and 2025 were as outlined in the table below: Vote 09 - Revenue Commissioners 2023 Allocation 2024 Allocation 2025 Allocation € m € m € m Gross Capital Estimate ...

Written Answers — Department of Finance: Fiscal Policy (17 Sep 2025)

Paschal Donohoe: The package announced for Budget 2026 will enable the Government to deliver on key social and economic priorities, while also strengthening our long-term fiscal sustainability. In the Programme for Government, we committed to running budget surpluses and fully funding the Future Ireland and Infrastructure Climate and Nature Funds – with these measures protecting the public...

Written Answers — Department of Finance: Fiscal Policy (17 Sep 2025)

Paschal Donohoe: ‘Windfall’ corporation tax refers to the Department’s notional estimate for the portion of receipts which are not linked to the domestic economy. All Exchequer tax revenues are paid into the Central Fund and not hypothecated for any particular form of expenditure. It is therefore not possible to delineate whether expenditure is funded by specific forms of tax revenue in...

Written Answers — Department of Finance: Fiscal Policy (17 Sep 2025)

Paschal Donohoe: I have noted IFAC’s concerns on the risks to the Irish economy related to a potential overexposure to volatile corporation tax receipts. Indeed, my Department has published several analytical pieces over recent years that identify fiscal vulnerabilities that might jeopardise the sustainability of the public finances. Such analysis has pointed to the exponential growth in corporation...