Results 341-360 of 32,924 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (20 May 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 has as an aim to encourage additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in...

Written Answers — Department of Finance: Legislative Measures (20 May 2025)

Paschal Donohoe: The Finance (Provision of Access to Cash Infrastructure) Bill 2024 completed passage through the Seanad on 13 May 2025. As the Bill passed all stages in both Houses of the Oireachtas, it has been sent to Uachtarán na hÉireann to be signed into law. Once the Bill is enacted, attention will turn to commencing the legislation and the making of necessary regulations. I am informed by...

Written Answers — Department of Finance: Primary Medical Certificates (20 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...

Written Answers — Department of Finance: Fiscal Policy (20 May 2025)

Paschal Donohoe: The Economic and Fiscal Outlook is a document prepared by the Department of Finance incorporating the Department’s autumn macroeconomic and fiscal forecasts. It is published as part of the Budget each year. Separately, under the revised EU fiscal governance framework, Ireland, like all EU Member States, is required to prepare and publish a medium-term fiscal and structural plan...

Written Answers — Department of Finance: Fiscal Data (20 May 2025)

Paschal Donohoe: The Annual Progress Report (APR) was published on 6th May setting out my Department’s spring forecasts. The baseline macroeconomic forecasts published in the APR were produced during March and endorsed by the Irish Fiscal Advisory Council at end-March. The baseline forecasts were prepared on the basis of the tariff landscape in March and were calibrated on the assumption that no...

Written Answers — Department of Finance: Fiscal Data (20 May 2025)

Paschal Donohoe: Transfers from the Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF) to the Exchequer increases Exchequer revenue. If this money is spent by the Exchequer, it increases Exchequer expenditure. The Exchequer, FIF and the ICNF all fall within the General Government sector. Transfers from the Exchequer to these two funds, or vice versa, do not affect the General...

Written Answers — Department of Finance: Fiscal Data (20 May 2025)

Paschal Donohoe: The main driver of the accrual of -€3,050 million in 2025, as presented in Annex 3 of the Annual Progress Report, is the adjustment related to the Court of Justice of the European Union (CJEU) ruling, which amounts to -€3.3 billion. According to the European System of Accounts, which is applicable to all EU Member States, all revenue from the CJEU ruling should be recorded in...

Written Answers — Department of Finance: Tax Reliefs (20 May 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 has as an aim 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 (20 May 2025)

Paschal Donohoe: The Deputy may be aware that my Department publishes a report on Tax Expenditure Evaluation each year. The latest report was published on Budget Day 2024, and is available at: assets.gov.ie/static/documents/tax-expenditures-in-ireland-2 024-report.pdf In addition, my Department also published Tax Expenditures Evaluation – Updated Guidelines (available at:...

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

Paschal Donohoe: The EU Code of Conduct (Business Taxation) was agreed by EU Member States in 1997. It is a non-binding, intergovernmental agreement which promotes fair tax competition both within the EU and beyond. The Code covers measures which affect, or may affect, in a significant way the location of business activity in the European Union. This is known as the ‘gateway criterion’....

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

Paschal Donohoe: For the purpose of this response, I understand ‘managed funds’ to be a reference to collective investment vehicles. Irish collective investment vehicles (investment funds), which are authorised and regulated by the Central Bank of Ireland, generally operate under what is known as the “Gross Roll-Up” regime. This means that monies invested in such funds can grow on...

Written Answers — Department of Finance: Vehicle Registration Tax (20 May 2025)

Paschal Donohoe: VRT is an excise duty which is imposed, under Irish law, on the registration of a vehicle in the State. With effect from 1 January 1993, Section 132(1), Finance Act, 1992 introduced “a duty of excise, to be called vehicle registration tax” and the legislation stipulates that the tax “shall be charged, levied and paid ... on ... the registration of a vehicle”. ...

Written Answers — Department of Finance: Tax Credits (20 May 2025)

Paschal Donohoe: Based on Revenue’s latest Ready Reckoner (post-Budget 2025), the estimated cost to the Exchequer of increasing the Home Carer Tax Credit to €2,000 per annum is approximately €3 million on a first year basis and €4 million on a full year basis. It should be noted that the costs are based on 2025 estimates from the Revenue tax forecasting model using latest actual...

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

Paschal Donohoe: I propose to take Questions Nos. 347 and 348 together. In relation to Dail Question No. 347 (Ref: 25939/25) please see the link below, which contains a table showing the annual increases in the retail price of the most popular price category (MPPC) for a 20 pack of cigarettes since 2014, together with the portions related to tax increases and trade increases. In relation to Dail Question...

Written Answers — Department of Finance: Illicit Trade (20 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 349 and 350 together. I am assured that Revenue is committed to targeting the illicit tobacco trade. It implements a range of measures to identify and target the smuggling, supply or sale of illicit tobacco products, with a view to disrupting the supply chain, seizing the products and where possible, prosecuting those involved. Revenue’s strategy also...

Written Answers — Department of Finance: Departmental Bodies (15 May 2025)

Paschal Donohoe: Within the last 10 years, two State Agencies have been established by my department, the Financial Services and Pensions Ombudsman and Home Building Finance Ireland. The Financial Services and Pensions Ombudsman (FSPO) is an independent statutory body established by the Financial Services and Pensions Ombudsman Act 2017. Its remit is to resolve complaints from consumers, including small...

Written Answers — Department of Finance: Tax Code (15 May 2025)

Paschal Donohoe: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. RZLT is designed to prompt residential development by owners of land that satisfies the relevant criteria for the tax, that being that the land is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate...

Written Answers — Department of Finance: Tax Collection (15 May 2025)

Paschal Donohoe: Section 132(2) of Finance Act 1992 (as amended) provides that Vehicle Registration Tax (VRT) becomes due and payable, by the person registering or declaring that vehicle in the State, at the point when that vehicle is registered or declared. All motor vehicles must be registered within 30 days of their date of entry into the State. When a new vehicle is purchased, the motor dealer...

Written Answers — Department of Finance: Real Estate Investment Trusts (14 May 2025)

Paschal Donohoe: The rules relating to Real Estate Investment Trusts (REITs) in Ireland are contained in Part 25A of the Taxes Consolidation Act 1997. The purpose of the REIT regime is to allow for a collective investment vehicle which provides a comparable after-tax return to investors as direct investment in rental property, by eliminating the double layer of taxation at corporate and shareholder level...

Written Answers — Department of Finance: Tax Reliefs (14 May 2025)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they require to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C of the Taxes Consolidation Act outlines the definitions and...