Results 261-280 of 33,848 for speaker:Paschal Donohoe

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

Paschal Donohoe: Due to Revenue’s obligation to protect the confidentiality of taxpayer data, as provided for in Section 851A of the Taxes Consolidation Act 1997, it is not possible to provide the data requested by the deputy, due to the low number of taxable entities involved. Further detail is available in Revenue’s Statistical Disclosure Control Protocol, published on the Revenue website...

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

Paschal Donohoe: As set out in the response to this question on 17 July, the Deputy will be aware that loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in all OECD countries. This loss relief system recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned...

Written Answers — Department of Finance: Housing Schemes (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. It also aims to encourage additional supply of new houses by supporting demand. HTB provides 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...

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

Paschal Donohoe: An IREF is an Irish regulated investment fund, or sub-fund where at least 25% of the value of its assets is derived from Irish real estate. As an investment fund, the income and gains of an IREF are not subject to corporation tax or capital gains tax, instead under the IREF regime, a withholding tax ("WHT") at a rate of 20%, is generally applied at the point in time where the value of profits...

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

Paschal Donohoe: An IREF is an Irish regulated investment fund, or sub-fund where at least 25% of the value of its assets is derived from Irish real estate. As an investment fund, the income and gains of an IREF are not subject to corporation tax or capital gains tax, instead under the IREF regime, a withholding tax (“WHT”) at a rate of 20%, is generally applied at the point in time where the...

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

Paschal Donohoe: I propose to take Questions Nos. 509, 510 and 511 together. In order to counter the use of Irish funds as tax-free vehicles for the development and leasing of Irish property, Finance Act 2016 introduced a tax regime for certain Irish regulated funds that invest in Irish real estate. Up until December 2016, income and gains arising on Irish real estate distributed by certain Irish regulated...

Written Answers — Department of Finance: Banking Sector (8 Sep 2025)

Paschal Donohoe: The terms relating to the adjustment of interest rates is set out in individual mortgage contracts. In addition, the Central Bank of Ireland's Consumer Protection Code sets out requirements regulated entities must comply with in relation to mortgage interest rates. Where the interest rate which applies to a mortgage is based on a ratio of Loan-to-Value, the regulated entity must, at...

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

Paschal Donohoe: As the Deputy is aware the current thresholds for the income tax age exemption are €18,000 per annum where an individual is aged 65 years or over, and €36,000 per annum for married couples and civil partners, jointly assessed to tax, where either individual is aged 65 or over. The relevant income thresholds may be increased further if the individual has a qualifying child....

Written Answers — Department of Finance: Rental Sector (8 Sep 2025)

Paschal Donohoe: The Rent Tax Credit (RTC), as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. For the years 2022 and 2023 the Rent Tax Credit is valued at a maximum of €500 per single individual and €1,000 per jointly assessed...

Written Answers — Department of Finance: International Agreements (8 Sep 2025)

Paschal Donohoe: Ireland is focused on supporting and enhancing its economic relationship with Brazil to the greatest extent possible. Brazil is a valued and important trading partner for Ireland with whom we have an extensive two-way relationship in terms of people, business and diplomatic ties. Several Irish companies have based their Latin American headquarters in Brazil. Ireland's longstanding tax...

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

Paschal Donohoe: I have consulted with the Data Protection Commission and the Central Bank of Ireland on this matter. Under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, as amended (‘the CJA 2010’), the Central Bank of Ireland (‘Central Bank’) is the competent authority responsible for supervision of the financial sector’s compliance with the...

Written Answers — Department of Finance: Mortgage Resolution Processes (8 Sep 2025)

Paschal Donohoe: There are a range of consumer protections and debt resolution mechanisms already in place. The Central Bank of Ireland maintains a consumer protection framework including the Code of Conduct on Mortgage Arrears. Each regulated entity, be that a bank, retail credit firm or credit servicing firm is bound by this code and must consider a borrower’s situation in the context of the...

Written Answers — Department of Finance: Planning Issues (8 Sep 2025)

Paschal Donohoe: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997 (TCA 1997). RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope,...

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

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me that ISIF’s exposure to companies involved in specified activities in the occupied Palestinian territories as listed on the UN Office of the High Commissioner for Human Rights database (the “UN Database” June 2023) as reported in the NTMA Annual Report for year end 2024 are €7.76 million. During...

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

Paschal Donohoe: I note the Deputy refers to a report previously published by my predecessor, Minister Chambers. In October 2024, Minister Chambers published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’, a wide-ranging review of the funds and asset management sector. The Funds Review Report sets out a series of recommendations to ensure that, in pursuit...

Written Answers — Department of Finance: Interest Rates (8 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 521, 529, 530 and 551 together. The European Central Bank (ECB) increased interest rates over the course of 2022 and 2023 as it moved to combat excess price inflation. However, from mid-2024 the ECB has progressively reduced its main official lending rate to its current level of 2.15%. In relation to tracker interest rate mortgages, the Central Bank...

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

Paschal Donohoe: On 22 October 2024 ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ was published. It was a wide-ranging review of the funds and asset management sector. The terms of reference included review of the taxation regimes for funds, life assurance policies and other related investment products. As part of this aspect of the review, proposals made...

Written Answers — Department of Finance: Mortgage Interest Rates (8 Sep 2025)

Paschal Donohoe: The European Central Bank (ECB) increased interest rates over the course of 2022 and 2023 as it moved to combat excess price inflation. However, from mid-2024 the ECB has progressively reduced its main official lending rate to its current level of 2.15%. While official interest rates set by the ECB generally influence the overall level of interest rates throughout the economy, other...

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

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law is obliged to comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they are either specifically exempt from VAT or they fall within the categories listed in Annex III of the Directive, to which Member States...

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

Paschal Donohoe: I propose to take Questions Nos. 525 and 527 together. Micro-generation of electricity is the small-scale production of electricity by consumers who generate electricity at their own homes for their own consumption and sell the excess electricity produced to the grid. Section 216D of the Taxes Consolidation Act 1997 provides that profits of up to €400 per year arising to an...