Results 2,921-2,940 of 32,432 for speaker:Paschal Donohoe

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: I did not say that.

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: I have three points to make. First, the effect of what the Senator is proposing would mean having a different taxation regime for banks from what applies in the rest of the economy. That would be the effect. Second, I did not say the banks that are not subject to a pay cap do not employ people within our economy. I said they employ fewer people than Bank of Ireland, AIB and Permanent TSB....

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: The short answer to the Senator's question is that this issue is currently under debate within the EU. The Commission has proposed a new energy taxation directive and, as part of that, a discussion is under way on whether the tax exemptions for aviation and maritime fuel should be removed. As a participant in this debate, as a representative of the Government of a country with an economy...

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: I thank the Senators for the recommendations they have tabled. The data centres are associated with large companies, as Senators said, which are also large employers in Ireland. The retention of data centres within our country is a very important ingredient of how we can keep jobs within our country, especially in the context of changes happening in corporate taxation in the time ahead,...

Seanad: Gnó an tSeanaid - Business of Seanad (13 Dec 2022)

Paschal Donohoe: If the Cathaoirleach will accommodate it, I ask that there be a brief suspension to allow me to attend a vote in the Dáil.

Written Answers — Department of Finance: Sports Funding (13 Dec 2022)

Paschal Donohoe: I propose to take Questions Nos. 234 and 241 together. Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023 and is available to tax compliant businesses carrying on a trade or profession the profits...

Written Answers — Department of Finance: Departmental Policies (13 Dec 2022)

Paschal Donohoe: Since the formation of the Government on 27 June 2020 the Department of Finance has delivered a number of policy achievements which include; - Budget 2021, 22 and 23 The unforeseen challenges of Ukraine, the ongoing recovery from the pandemic and the continuing fallout from Brexit were addressed from a position of strength with record levels of employment and a budget surplus. - Covid 19...

Written Answers — Department of Finance: Banking Sector (13 Dec 2022)

Paschal Donohoe: The IBRC Ninth Progress Update report was published on 9 September 2022 and provides information on costs incurred in the special liquidation to date, with cost information also provided by workstream and by time period. I am advised by the Special Liquidators that they are precluded from providing the details sought in relation to individual assets, as this is commercially sensitive...

Written Answers — Department of Finance: Consumer Protection (13 Dec 2022)

Paschal Donohoe: Directive 2015/2366/EU on payment services (or “PSD2”) was transposed into Irish law, with effect from 13 January 2018, by the European Union (Payment Services) Regulations, 2018 (S.I. No.6 of 2018, hereafter referred to as the PSRs). The PSRs set out the industry requirements concerning liabilities for unauthorised payment transactions and the applicable security requirements...

Written Answers — Department of Finance: Departmental Schemes (13 Dec 2022)

Paschal Donohoe: As the Deputy is aware, I committed to a comprehensive review of the DDS, of which the fuel grant is a part, under the auspices of a broader review of mobility supports. In order to achieve this objective, Minister O’Gorman agreed in September 2021 that the DDS review should be incorporated into the work of the National Disability Inclusion Strategy (NDIS) Transport Working Group...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: I assume that the Deputy has in mind the personal income tax package changes announced in the Budget. Budget 2023 brought forward a significant personal tax package with an estimated cost next year of over €1.13 billion. The Standard Rate Cut-Off Point is being increased by €3,200 from €36,800 to €40,000 for a single individual (8.7% increase), with...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: In general, no Government in Ireland has followed a policy of strict indexation of tax credits or rate bands, as this does not allow flexibility to adapt spending as necessary to the level of resources available to the Government for any given Budget. Such a policy could also potentially restrict the ability of the Government to target resources where the need is greatest. However, as the...

Written Answers — Department of Finance: Financial Services (13 Dec 2022)

Paschal Donohoe: The Central Bank of Ireland advises that Pepper Finance Corporation (Ireland) Designated Activity Company, trading as Pepper Money and Pepper Asset Servicing, is authorised by it as a Retail Credit Firm (RCF). RCFs are required to comply with all relevant requirements of financial services legislation, including the regulatory requirements as set out in the Central Bank's existing codes of...

Written Answers — Department of Finance: Revenue Commissioners (13 Dec 2022)

Paschal Donohoe: I am advised by Revenue that it selects cases for compliance intervention based primarily on risk, although a small proportion of random interventions are carried out each year in order to test risk assumptions. Each intervention is intended to be in the form which is most efficient in terms of time and resources, and which imposes the least cost on both the taxpayer and on Revenue, whilst...

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes I brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being legislated for as far back as 2008 (but never...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have advised me that Goodbody provided sales advisory services to Irish Bank Resolution Corporation Limited (In Special Liquidation) (“IBRC”) in relation to IBRC’s holding of NAMA subordinated bonds in 2014. They were not engaged in 2015 as all of IBRC’s holdings of the bonds were sold in 2014. I am advised by the Special Liquidators that...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have informed me, as Minister for Finance, that the identity of the purchasers of IBRC’s holding of the NAMA subordinated bonds in 2014 is commercially sensitive and confidential.

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have advised me, as Minister for Finance, that Goodbody advised the Special Liquidators of Irish Bank Resolution Corporation Limited (In Special Liquidation) of the bids received on the NAMA subordinated bonds following the sales process on 23 September 2014. The total realisation amount was communicated to the Department of Finance shortly thereafter.

Written Answers — Department of Finance: Tax Code (13 Dec 2022)

Paschal Donohoe: The EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of VAT. The EU VAT Directive also allows for historic VAT treatment to be maintained under certain conditions on certain goods and...

Written Answers — Department of Finance: Insurance Coverage (13 Dec 2022)

Paschal Donohoe: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many community groups across the country around the cost and availability of insurance cover. Accordingly, Government has prioritised insurance reform through the Action Plan for Insurance Reform. As the Deputy may be aware, the third Action Plan Implementation Report was published last month, showing that 90...