Results 301-320 of 32,429 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2025)

Paschal Donohoe: Under sections 77 and 78 of CATCA 2003, CAT gifts and inheritances of pictures, prints, books, manuscripts, works of art, jewellery, scientific collections or other things not held for the purposes of trading may be exempt from CAT where the following conditions are satisfied: (1) the property is of national, scientific, historic or artistic interest, (2) the property is kept permanently in...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 251 and 264 together. Section 110 of the Taxes Consolidation Act 1997 sets out a regime for the taxation of special purpose companies set up to securitise assets. The tax provisions are intended to create a tax neutral regime for bona-fide securitisation and structured finance purposes. The section 110 regime enables noteholders to invest through one...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: Tax treaties allow for the smooth and regulated taxation of international business and investment activities. Ireland’s longstanding tax treaty policy has been to expand, maintain, and enhance its network to remove barriers and facilitate trade and investment opportunities between Ireland and partner jurisdictions. They provide greater certainty and fairness for taxpayers regarding...

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2025)

Paschal Donohoe: As was noted in my reply to the Deputy's similar PQ that issued to him on the 5th of February this year, I am advised by Revenue that section 124B of the Stamp Duties Consolidation Act 1999 provides for a Stamp Duty levy of 1% to be levied in respect of certain life insurance premiums paid to insurers. The levy is payable by the insurers to Revenue on a quarterly basis. It was introduced...

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2025)

Paschal Donohoe: Revenue approval is required in advance of transfers to a pension scheme in a country other than the UK or an EU Member State. If the transfer is to a country outside the EU (other than the UK) a transfer may not be made to a country other than the one in which the member is currently employed. I am advised by Revenue that due to the small number (less than 10) of applications for pension...

Written Answers — Department of Finance: Banking Sector (20 Mar 2025)

Paschal Donohoe: I am informed by the Central Bank of Ireland that the main categories of marketable assets accepted under the Eurosystem's general (permanent) collateral framework are central government securities, corporate bonds, covered bonds, unsecured bank bonds, regional government securities, and asset-backed securities. For non-marketable assets, the Eurosystem accepts certain types of credit...

Written Answers — Department of Finance: Departmental Staff (20 Mar 2025)

Paschal Donohoe: I wish to inform the Deputy that there were no secondments from consulting firms to my Department in the period from 2020 to present.

Written Answers — Department of Finance: State Assets (20 Mar 2025)

Paschal Donohoe: The State invested €20.8bn in AIB between 2009 and 2011. The State has made good progress in reducing its shareholding in AIB from 71.12% at the beginning of 2022 to just under 12% today while recovering c. €17.9m as part of that process. The State's remaining shareholding in AIB (as at close of business on 17/3/2025) is worth approximately €1.87bn. I have outlined...

Written Answers — Department of Finance: Tax Code (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that the intervention levels in its Compliance Intervention Framework enable it to deliver a consistent graduated response to taxpayer behaviour and compliance risk. Level 1 interventions are aimed at supporting taxpayers by reminding them of their obligations and providing them with the opportunity to correct errors. A Level 1 intervention is only used where...

Written Answers — Department of Finance: Tax Avoidance (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that section 1079 Taxes Consolidation Act 1997 (TCA) imposes obligations on all auditors and tax advisers who become aware, in the course of their normal work, of material tax evasion or non-compliance committed by a client company, to report this to the company and request that the matter be rectified or that the company should report the offence to Revenue. The...

Written Answers — Department of Finance: Departmental Policies (20 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 260 and 261 together. I am advised by Revenue that any person properly authorised by a taxpayer to do so can act as an intermediary on behalf of that taxpayer, i.e. make returns on that person’s behalf or make representations on their behalf to Revenue. Revenue require that a taxpayer provide written confirmation of any such authorisation and...

Written Answers — Department of Finance: Departmental Data (20 Mar 2025)

Paschal Donohoe: As the Deputy will be aware, Ireland is a common law jurisdiction, therefore trusts are used for a variety of purposes, many of which are of a personal nature, for example, a grandparent may create a trust for their grandchild's education. In addition, trusts in Ireland also apply inter alia to trade unions, charities, sports clubs, and student unions. Consequently, there are trusts with no...

Written Answers — Department of Finance: Sovereign Debt (20 Mar 2025)

Paschal Donohoe: Exchequer short-term paper outstanding at year-end 2024 amounted to €19.4bn and consisted of Exchequer Notes and Central Treasury Notes. Neither the Future Ireland Fund nor the Infrastructure, Climate and Nature Fund had investments in Exchequer short-term paper at year-end 2024. The Social Insurance Fund was the largest single holder of short-term paper at end 2024 – with...

Written Answers — Department of Finance: Tax Reliefs (20 Mar 2025)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act 1997 (TCA) 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 practitioner, will qualify for tax relief. Health care is...

Written Answers — Department of Finance: Tax Yield (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that it is not possible to separately identify insurance companies providing risk cover specifically to persons located in the State. However, the Deputy may wish to note that the aggregate amounts of corporation tax paid by all entities operating in this sector are provided under “Financial & Insurance Activities” in the ‘Revenue net...

Written Answers — Department of Finance: Departmental Data (20 Mar 2025)

Paschal Donohoe: The term “Exchange Traded Fund” or “ETF” is a general investment industry term that refers to a wide range of investments. ETF investments can take many different legal and regulatory forms even where they are established within the same jurisdiction. An ETF is usually an investment fund whose units are held in a recognised clearing system and are traded on a...

Written Answers — Department of Finance: Departmental Contracts (20 Mar 2025)

Paschal Donohoe: I am advised that neither my Department, nor any of the bodies under the aegis of my Department have entered into contract with the named hotel or had any discussions, or received any specific offers, in respect of using the premises for any reason, since 1 November 2024.

Written Answers — Department of Finance: Primary Medical Certificates (19 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 374 and 441 together. 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. ...

Written Answers — Department of Finance: Primary Medical Certificates (19 Mar 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...

Written Answers — Department of Finance: Tax Credits (19 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 376, 384, 391, 394, 395, 404 and 412 together. Section 114 of the Taxes Consolidation Act (“TCA”) 1997 provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. I am informed by Revenue that the flat rate expense...