Results 24,061-24,080 of 33,392 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (4 Jul 2017)

Paschal Donohoe: Credit unions have a key role to play in providing access to credit and other important services in local communities throughout the country. The sector has undergone fundamental change since 2011, managing many complex and challenging issues. For example, following the establishment of the Credit Union Restructuring Board (ReBo), there have been 82 mergers involving 156 credit unions...

Written Answers — Department of Finance: Banking Sector Remuneration (4 Jul 2017)

Paschal Donohoe: I propose to take Questions Nos. 106 and 107 together. As the Deputy will be aware, the previous Government placed restrictions on various types of remuneration in the Irish banks that were recapitalised by the State and these restrictions remain in place. Hence there cannot be any bonus, dividend or incentive payments for AIB’s executives or staff linked to the IPO of AIB.

Written Answers — Department of Finance: Brexit Data (4 Jul 2017)

Paschal Donohoe: I wish to inform the Deputy that the Assistant Secretary who heads the EU and International Division of my Department has been designated as the lead official in the Department for Brexit matters. A dedicated Brexit Unit within the EU and International Division was established in July 2016 to oversee and coordinate Brexit work across the entire Department and to act as a key liaison point,...

Written Answers — Department of Finance: Fuel Prices (4 Jul 2017)

Paschal Donohoe: The price of petrol and diesel sold at the garage forecourt is determined by a number of factors including taxation, the price of the raw material, the prevailing exchange rates as well as the fact the different wholesalers can enter into forward contracts at different rates for the purchase of oil. There are two elements of tax in the final price of a litre of fuel, the excise rate and...

Written Answers — Department of Finance: Insurance Industry Regulation (4 Jul 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 position is...

Written Answers — Department of Finance: Employment Data (4 Jul 2017)

Paschal Donohoe: We are currently seeing very positive signs in the labour market. Total employment, which has passed the two million mark, is at its highest level since 2008. Encouragingly, the labour market recovery remains broad based with gains recorded in all sectors and at all levels of occupational status last year. The composition of growth also remains strong driven by gains in full-time...

Written Answers — Department of Finance: Tax Yield (4 Jul 2017)

Paschal Donohoe: I am informed by Revenue that the rate of duty on tobacco products in each of the past ten years is provided in a table: Year Cigarettes Cigars Roll your own tobacco Other smoking tobacco 2007 €151.37 per 1000 cigarettes plus 17.78% of the retail price. €217.388 per kilogram €183.443 per kilogram €150.815 per kilogram 2008 €160.57 per 1000 cigarettes...

Written Answers — Department of Finance: Tax Code (4 Jul 2017)

Paschal Donohoe: Under section 18 of the Taxes Consolidation Act (TCA) 1997, rental income earned by both Irish resident and non-Irish resident companies and individuals from a property situated in the State is taxable under Case V of Schedule D of the TCA 1997. This basis of taxation makes no distinction between rental income from property let for residential occupation and property let for commercial...

Written Answers — Department of Finance: Pyrite Issues (4 Jul 2017)

Paschal Donohoe: I am advised by Revenue that statutory LPT return in 2013 did not require information in respect of pyrite damage below certification thresholds to be provided to Revenue and therefore the necessary data are not available to provide a basis for estimating the loss to the Exchequer from extending the pyrite exemption to such cases.

Written Answers — Department of Finance: Exports Growth (4 Jul 2017)

Paschal Donohoe: The report, 'A Future Tax Strategy to Grow Irish Indigenous Exports', commissioned by the Irish Tax Institute, has been examined by my officials in the Department of Finance. Among the concerns raised were that the R&D Tax Credit has a low take-up among SMEs and that there are barriers to the administration process. This was identified by a survey of SMEs for the report. The central...

Written Answers — Department of Finance: Mortgage Lending (4 Jul 2017)

Paschal Donohoe: The Deputy will be aware that I, as Minister, have no direct function in the relationship between PTSB and its customers. Commercial decisions taken by the bank around mortgage lending exemptions are a matter for the board and management of the bank. Notwithstanding the fact that the State is a shareholder in PTSB, I must ensure that the bank is run on a commercial, cost...

Written Answers — Department of Finance: EU Meetings (4 Jul 2017)

Paschal Donohoe: This Council, which took place in Luxembourg, was the last one under the Maltese Presidency and my first since my appointment as Minister for Finance. The first item on the agenda was a proposal for amending the Council Directives dealing with a reduced VAT rate for electronically supplied publications (e-Publications). This proposal is part of a project to modernise the VAT regime of the...

Written Answers — Department of Finance: Infrastructure and Capital Investment Programme (4 Jul 2017)

Paschal Donohoe: The 45 per cent debt-to-GDP target is currently under review and an update will be provided in the Summer Economic Statement to be published in July. Regarding infrastructure investment the Government has acknowledged the need for, and is conscious of the importance of, boosting the supply of critical infrastructure. The current Capital Plan sets a baseline from which the Government...

Written Answers — Department of Finance: European Banking Sector (4 Jul 2017)

Paschal Donohoe: In November 2016, as a Risk Reduction Measures (RRM) package, the European Commission proposed amendments to the following key pieces of legislation: - The Capital Requirements Regulation and Directive (CRR and CRD IV), which were adopted in 2013 and which provide the prudential requirements for institutions and rules on governance and supervision of institutions operating in Europe. ...

Written Answers — Department of Finance: State Banking Sector (4 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, the State last week sold 25% of AIB's ordinary share capital at a price of €4.40 per share for consideration of almost €3 billion. The State also granted an additional over-allotment option over a further 3.75% of AIB's ordinary share capital as part of this transaction. Hence unless some of these shares are bought back in the market...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (4 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, there are already significant Government measures to support the financing needs of SMEs and these will be available to assist SMEs deal with the effects of Brexit. These include the Supporting SMEs Online Tool, the Credit Review Office, the SBCI, the Microenterprise Loan Fund, Local Enterprise Offices and the Credit Guarantee Scheme. Government policy is...

Written Answers — Department of Finance: Credit Unions (4 Jul 2017)

Paschal Donohoe: The Credit Union Advisory Committee (CUAC) carried out a survey of credit unions and also a viability study of credit unions, both of which were published on the Department of Finance website on 19 May 2016. These were used to inform part of CUAC's work in reviewing the Implementation of the Recommendations set out in the Report of the Commission on Credit...

Written Answers — Department of Finance: Banking Sector (4 Jul 2017)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government commits the Government to thoroughly investigating the Sparkassen model of local public banks that operate within well-defined regions in the context of the provision of finance to Irish SMEs. The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs is the lead Department in respect of this commitment, with support from...

Written Answers — Department of Finance: Commercial Rates Impact (4 Jul 2017)

Paschal Donohoe: The valuations process is a matter for the Minister for Justice and Equality and commercial rates are a matter for the Minister for Housing, Planning, Community and Local Government.  As I do not have responsibility for either area, I am not in a position to comment on any link between the valuations process and commercial rates.

Written Answers — Department of Finance: Property Tax Administration (4 Jul 2017)

Paschal Donohoe: I am advised by Revenue that the cost associated with establishing the Local Property Tax (including the arrears of Household Charge) and the ongoing annual costs are set out in the tables.  The figures provided cover the full cost of the development, including the self assessment valuation mechanism, and the cost of administration of LPT for each year. It includes all pay and non-pay...