Results 3,321-3,340 of 32,432 for speaker:Paschal Donohoe

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I will respond to the proposal made by Deputy O'Donnell. As he will be aware, the Department has conducted a thorough review of the help-to-buy scheme. I appreciate the further point he raised. My officials and I received the paper he submitted and we will, of course, give it consideration. He knows the issue we grapple with, however, in that I accept there is an issue with the so-called...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I move amendment No. 4: In page 10, line 22, to delete “on or before 30 September 2022”. The Minister for Children, Equality, Disability, Integration and Youth has implemented a scheme of once-off payments to the value of €3,000 to each individual whose incorrect birth registration has been confirmed by or to Tusla. The payment is to be provided on an ex gratia...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I move amendment No. 5: In page 10, after line 38 to insert the following: “Exemption in respect of payments under Covid-19 Death in Service Ex-Gratia Scheme for Health Care Workers 4. Chapter 1 of Part 7 of the Principal Act is amended by the insertion of the following section after section 192L (inserted by section 3): “Exemption in respect of payments under...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I have passed this matter on to the Minister for Health and I know he is directly aware of the interest in this matter. However, it is a matter for the Minister for Health rather than for the Finance Bill. I will again make sure the Department of Health is aware of this matter.

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: I move amendment No. 6: In page 11, to delete lines 15 and 16 and substitute the following: “(a) in subsection (1)— (i) by the insertion of the following definition: “ ‘Act of 2021’ means the Affordable Housing Act 2021;”, (ii) in the definition of “qualifying period”, by the substitution of “2024” for...

Finance Bill 2022: Report Stage (23 Nov 2022)

Paschal Donohoe: With the permission of the Ceann Comhairle, I will speak to the amendments as a group and respond to all of them. A number of amendments have been grouped together, covering a report on the abolition or replacement of USC, as submitted by Deputies from People Before Profit and the Rural Independent Group, and a report from the introduction of a 43% income tax rate on individuals earning over...

Written Answers — Department of Finance: National Treasury Management Agency (23 Nov 2022)

Paschal Donohoe: The investment objective of the National Reserve Fund is to preserve, to the extent possible, the full nominal value of the fund having regard to the credit rating of the financial institution or issuer of the investments. The NTMA has informed me that in line with that objective, the Fund is currently invested in Exchequer notes at commercial rates. Irish Exchequer Notes are currently the...

Written Answers — Department of Finance: Tax Code (23 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 67, 73 and 74 together. For clarity, I did not make any changes in Budget 2023 to existing benefit-in-kind (BIK) provisions that would negatively impact on the application of benefit-in-kind for workers. Rather, I amended two specific measures to further enhance the BIK treatment applicable to employees. Firstly, the relief provided for in section 112B...

Written Answers — Department of Finance: Business Supports (23 Nov 2022)

Paschal Donohoe: The Financial Stability Review provides an overview of potential risks to financial stability in the euro area. It aims to promote awareness in the financial industry and among the public of euro area financial stability issues. As the Deputy notes the Review states that "As financial conditions tighten, the vulnerabilities of more-indebted sovereigns, households and corporates are at...

Written Answers — Department of Finance: Insurance Coverage (23 Nov 2022)

Paschal Donohoe: Current Government policy in relation to increasing flood insurance coverage is focused on the development of a sustainable, planned and risk-based approach to managing flooding problems. Accordingly, €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the National Development Plan (NDP) to 2030. This will protect approximately 23,000 properties...

Written Answers — Department of Finance: Tax Code (23 Nov 2022)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate (currently 23% in Ireland), unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member...

Written Answers — Department of Finance: National Asset Management Agency (23 Nov 2022)

Paschal Donohoe: In the context of its overriding commercial mandate, I can advise the Deputy that NAMA seeks to manage its secured property portfolio in a manner that complements the objectives of other public bodies. This includes facilitating the sale of properties for social purposes where commercially practical to do so. NAMA works closely with Government departments, state agencies and local...

Written Answers — Department of Finance: Revenue Commissioners (23 Nov 2022)

Paschal Donohoe: One of the primary functions of Revenue is the collection of tax and ensuring that all taxpayers pay the correct amounts due in a timely manner. The majority of taxpayers continue to file and pay their taxes on time, and do not require notification from Revenue to pay outstanding debts. During the COVID-19 pandemic, Revenue suspended debt enforcement in line with the Government’s...

Written Answers — Department of Finance: Business Supports (23 Nov 2022)

Paschal Donohoe: Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 31 December 2022 or, where it is possible to grant State aid beyond that date under the European Commission’s Temporary Crisis Framework (TCF), to 28...

Written Answers — Department of Finance: Tax Code (23 Nov 2022)

Paschal Donohoe: Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD prescribes minimum tax rates for fuel with which all Member States must comply. ETD provisions in relation to liquid fuels used for motor or heating purposes are transposed into national law in Finance Act 1999. This law provides for...

Written Answers — Department of Finance: Fuel Prices (22 Nov 2022)

Paschal Donohoe: Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD prescribes minimum tax rates for fuel with which all Member States must comply. There are three national legislative frameworks which provide for the charging of excise duty on different fuel types in the State. Firstly, ETD...

Written Answers — Department of Finance: Official Travel (22 Nov 2022)

Paschal Donohoe: Ireland is represented at the COP27 climate conference in Sharm el-Sheikh by a national delegation led by the Minister for Environment, Climate, and Communications, Mr. Eamon Ryan T.D. and comprised of officials from six Government Departments. Two officials from the Department of Finance attended, and no officials from any of the State bodies under the aegis of my Department travelled....

Written Answers — Department of Finance: Insurance Coverage (22 Nov 2022)

Paschal Donohoe: While neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, I can assure the Deputy that this Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups across the State. The whole-of-Government approach being taken through the Action Plan for Insurance Reform sets...

Written Answers — Department of Finance: Business Supports (22 Nov 2022)

Paschal Donohoe: Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022.  The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023 and will be available to tax compliant businesses carrying on a trade or profession the profits of which are chargeable to tax under Case...

Written Answers — Department of Finance: Tax Code (22 Nov 2022)

Paschal Donohoe: For clarity, I did not make any changes in Budget 2023 to existing benefit-in-kind (BIK) provisions that would negatively impact on the application of benefit-in-kind for workers. Rather, I amended two specific measures to further enhance the BIK treatment applicable to employees. Firstly, the relief provided for in section 112B of the Taxes Consolidation Act 1997 (TCA), which is commonly...