Results 281-300 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Central Bank of Ireland (29 May 2025)

Paschal Donohoe: The Central Bank does not sell or oversee the sale of Israeli bonds, neither does the Central Bank directly (or indirectly) invest in Israeli government bonds. The Central Bank performs a regulatory function which is limited to ensuring that the disclosure document for the offer contains all the necessary information required by the EU Prospectus Regulation. Under this Regulation, a...

Written Answers — Department of Finance: Tax Yield (29 May 2025)

Paschal Donohoe: I have assumed the Deputy is requesting the value of the tax revenue generated from rental income on commercial properties in Dublin Bay North. I am informed by Revenue that a taxpayer’s tax liability is calculated on their total income from all sources, rather than being separately calculated for each source of income (such as rental income). For this reason, it is not possible to...

Written Answers — Department of Finance: Tax Collection (29 May 2025)

Paschal Donohoe: The Domicile Levy was introduced in the Finance Act 2010. The purpose of the levy is to ensure that Irish domiciled individuals with substantial income and assets located in the State contribute to the exchequer. I am advised by Revenue that ‘tax exile’ is not a defined term for the purposes of the Domicile Levy. The levy applies to a “relevant individual”,...

Written Answers — Department of Finance: Financial Services (29 May 2025)

Paschal Donohoe: The Programme for Government includes a commitment to collaborate with industry, in exploring the establishment of a National Fintech Hub with the aim of fostering innovation and supporting fintech initiatives. Department of Finance officials are carrying out research and continue to engage with industry in exploring the possibilities for a National Fintech Hub. The work underway is an...

Written Answers — Department of Finance: Fiscal Policy (29 May 2025)

Paschal Donohoe: In March 2025, Germany adopted a constitutional reform of its national fiscal framework. The reform centred on three key changes: i) setting up a new fund for infrastructure of up to €500 billion outside the scope of the German ‘debt brake’, ii) exempting defence expenditure above 1 per cent of GDP from the debt brake, and iii) allowing federal states to take up new net...

Written Answers — Department of Finance: Trade Relations (29 May 2025)

Paschal Donohoe: It is clear that the global economy is facing into a period of considerable uncertainty, and recent announcements mark a distinct acceleration toward more inward-looking trade policies. As a highly globalised economy, Ireland is of course exposed to any reversal of the global economic integration which has helped to transform living standards in recent decades. In light of the changes in...

Written Answers — Department of Finance: Trade Sanctions (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 66 and 71 together. Restrictive measures, or sanctions as they are generally referred, are a tool of the EU's Common Foreign Policy. Ireland implements EU sanctions, and it also implements UN sanctions via EU sanctions. EU sanctions have direct effect in all Member States of the EU, and they are legally binding on all natural and legal persons in Ireland....

Written Answers — Department of Finance: Tax Residency (29 May 2025)

Paschal Donohoe: The tax treatment associated with cross-border working has been subject to ongoing discussions in recent years, particularly given the increase in remote working as a result of the Covid-19 pandemic. However, cross-border working gives rise to complex issues involving shared taxing rights between different jurisdictions. There are potential issues for employees, employers, and Exchequer...

Written Answers — Department of Finance: Insurance Industry (29 May 2025)

Paschal Donohoe: The Government is taking a comprehensive and proactive approach to improving competition in the Irish insurance market, as outlined in the Programme for Government: Securing Ireland’s Future. A key focus is the development of a new Action Plan for Insurance Reform, which follows on from the 2020 Plan that brought significant changes, including reforms to the Duty of Care, enhancements...

Written Answers — Department of Finance: Insurance Coverage (29 May 2025)

Paschal Donohoe: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including the insurance sector. In terms of the challenges associated with obtaining flood cover, the provision of such cover is a commercial matter for insurance companies, based on an actuarial assessment of the risks they are willing to accept....

Written Answers — Department of Finance: Tax Data (29 May 2025)

Paschal Donohoe: I am informed by Revenue that the estimated number of taxpayer units subject to the higher rate of tax is 1,013,500. The estimated number of taxpayer units subject to the standard rate is 2,216,700. Of which, an estimated 1,060,000, or 30% of all taxpayer units, do not pay income tax as their liability is fully covered by their tax credits. An estimated additional 256,600 taxpayer...

Written Answers — Department of Finance: Tax Code (29 May 2025)

Paschal Donohoe: Budget 2010 announced the introduction of a carbon tax on fossil fuels in Ireland. Carbon taxation of petrol and auto-diesel came into effect in December 2009. It was extended to other liquid fuels and natural gas in 2010, and to solid fuels in 2013. Ireland’s carbon tax regime is a carbon pricing mechanism which directly links the taxation of fossil fuels to carbon dioxide...

Written Answers — Department of Finance: Departmental Budgets (29 May 2025)

Paschal Donohoe: The Government published its Annual Progress Report (APR) - formerly the Stability Programme Update - earlier this month. This set out the Department of Finance's updated macroeconomic and fiscal projections for this year and next, in line with (European) legal requirements. In its endorsement process with the Fiscal Council, my Department initially produced a 5-year forecast, covering...

Written Answers — Department of Finance: Tax Collection (29 May 2025)

Paschal Donohoe: I have not had any recent engagements with the European Commission nor the Trump administration about the introduction of an EU-wide digital levy, however, I have recently engaged with both parties on current EU-US trade and related issues. The terms digital levy and digital services tax (DST) can be used interchangeably but I will use the latter for ease in answering this question. DSTs...

Written Answers — Department of Finance: Departmental Reviews (29 May 2025)

Paschal Donohoe: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as my...

Written Answers — Department of Finance: Banking Sector (29 May 2025)

Paschal Donohoe: As a matter of common law, contracts are formed by offer and acceptance. In general terms, a contract is formed between a retailer and a customer when a retailer accepts an offer made by a customer. The terms which apply to such a contract are a matter for the parties to determine and will depend on the circumstances of the case. The Consumer Rights Act 2022, which was sponsored by the...

Written Answers — Department of Finance: Insurance Coverage (29 May 2025)

Paschal Donohoe: As the Deputy is aware, neither the Minister for Finance nor the Central Bank of Ireland can intervene in insurance pricing or provision under the EU's Solvency II directive. The Government remains fully committed to the continued reform of the insurance sector, ensuring reforms result in lower costs and greater availability of insurance for businesses across Ireland. The previous Action...

Written Answers — Department of Finance: Departmental Policies (29 May 2025)

Paschal Donohoe: The Capital Markets Union (CMU) is a flagship project within EU financial services policy which aims to deepen and further integrate Europe’s capital markets, support growth and enhance the resilience of the financial system. The CMU, alongside the Banking Union, forms part of the Savings and Investments Union (SIU). Ireland is a strong supporter of the CMU/SIU project. For...

Written Answers — Department of Finance: Departmental Schemes (29 May 2025)

Paschal Donohoe: The Finance (Local Property Tax) (Amendment) Bill 2025 provides for a new Local Property Tax (LPT) valuation period which will commence in 2026 and will last for five years. The Bill sets out a new method of calculating Local Property Tax (LPT) liabilities on the basis of fairness. It also provides for a number of technical amendments to LPT legislation and minor, time-sensitive amendments to...

Written Answers — Department of Finance: Trade Agreements (29 May 2025)

Paschal Donohoe: As the Deputy is aware, trade policy matters are primarily the responsibility of the Department of Foreign Affairs and Trade. Furthermore, trade with countries outside of the European Union is a responsibility devolved to the EU level, meaning that the European Commission negotiates international trade agreements collectively for all Member States. Within the Commission, it is Commissioner...