Results 281-300 of 33,883 for speaker:Paschal Donohoe

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

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 (TCA 1997) deals with the taxation regime for special purpose vehicles (SPVs) established in Ireland to securitise assets. Revenue advise that section 110 companies are not permitted to own Irish property assets (land and buildings) directly and so no costing can be provided. Finance Act 2016 made certain changes to the taxation of...

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

Paschal Donohoe: Revenue advise that section 110 companies are already subject to corporation tax in respect of all profits and gains. Finance Act 2016 made certain changes to the taxation of qualifying companies under section 110 TCA 1997. The changes, which included the introduction of a new subsection (5A), relate to the taxation of profits derived from the business of qualifying companies that...

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

Paschal Donohoe: The Central Bank publishes data on a quarterly basis relating to the activities undertaken by Irish registered Special Purpose Entities (SPE). Data is broken down between Financial Vehicle Corporations (FVC) as defined by European Central Bank Legislation (ECB) and ‘Other’ SPEs. FVCs refer to Securitisation SPEs, while Other SPEs refer to all other activities undertaken by SPEs...

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

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. In the Programme for Government 2025 it was pledged to support SMEs, particularly those in the retail and hospitality sectors, by examining changes to VAT, PRSI and other measures. Any...

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

Paschal Donohoe: I am advised by Revenue that section 469 of the Taxes Consolidation Act (“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 expenses” incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a...

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

Paschal Donohoe: Revenue have advised that following a procurement process, a contract for the delivery of a new Revenue Customs Cutter was signed with AuxNaval in August 2023. The new vessel, RCC Cosaint, was delivered ahead of schedule in August 2025 and is currently engaged in training and familiarisation exercises in transition to active patrol duties. RCC Cosaint will replace RCC Suirbhéir which...

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

Paschal Donohoe: Professional Services Withholding Tax (PSWT) is a deduction at the standard rate of income tax, currently 20%, from relevant payments made by accountable persons to specified persons in respect of certain professional services. Accountable persons include Government Departments, commercial and non-commercial State agencies and bodies, local authorities, the HSE and authorised medical...

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

Paschal Donohoe: Capital gains tax (CGT) may arise in respect of gains arising on the disposal of an asset at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Existing legislation does not provide for a preferential CGT rate on the disposal by landlord of a property let for the purposes of social housing at below-market rates over an extended...

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

Paschal Donohoe: The EU-US Joint Statement on Trade was published last month. While the imposition of tariffs is, of course, regrettable, this agreement represents an important milestone and provides a level of certainty and predictability about the future of transatlantic trade policy. My Department and the ESRI published an analytical paper in March which modelled several tariff scenarios in order to...

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

Paschal Donohoe: Capital Gains tax (CGT) is a broad ranging tax applying across a wide range of areas some of which have been highlighted in the Deputy’s PQ. Each year CGT is examined as part of the annual Capital Taxes Tax Strategy Group exercise. The resultant paper outline the tax policy considerations for the Government and the options available to it in forming this year’s Budget....

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

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. In the Programme for Government 2025 it was pledged to support SMEs, particularly those in the retail and hospitality sectors, by examining changes to VAT, PRSI and other measures. Any...

Written Answers — Department of Finance: Business Supports (8 Sep 2025)

Paschal Donohoe: The Strategic Banking Corporation of Ireland SBCI was established in 2014. The mission of the SBCI is to facilitate economic development by offering SMEs and other borrowers financial solutions that drive sustainability, growth and innovation. Up to end of December 2024, the SBCI has delivered more than €4.4 billion to more than 62,000 SMEs. Currently the SBCI are offering the...

Written Answers — Department of Finance: Revenue Commissioners (8 Sep 2025)

Paschal Donohoe: I am advised by Revenue that, when comparing Q2 2025 to Q2 2024, there has not been a significant increase in the number of insolvency-related filings in the hospitality sector . A table of the Q2 data is given below: Period Liquidations Hospitality-Related Q2 2025 153 29 Q2 2024 165 28 ...

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

Paschal Donohoe: I propose to take Questions Nos. 501 and 599 together. I am advised by Revenue that as those who hold charitable exemptions are not obliged to file tax returns there is no basis on which to estimate the amount of tax foregone as a result of this exemption.

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

Paschal Donohoe: I propose to take Questions Nos. 502 and 503 together. The most recent set of fiscal projections, published in the Annual Progress Report in May, incorporate an estimate of €350 million for the Rent Tax Credit (RTC) in respect of the year of assessment 2025. This estimate is an estimate of costs rather than an allocation. The estimated first and full year costs of increasing the...

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...