Results 361-380 of 34,415 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputy for raising this. He is right that the digital transition, particularly for small and medium-sized businesses, is going to be increasingly important in the years ahead. We talked a few moments ago about what that means for the way people invest their money. We know it is transforming every part of our economy. We also know some of the costs involved in this for smaller...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I agree with that.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I thank the Deputy. This amendment seeks a report on the design, potential yield and distributional impact of a wealth tax on net household wealth above certain thresholds to be provided within six months of the passing of this Bill into law. This matter has been raised by Deputies with me and my predecessors in recent years. As he will be aware, wealth can be taxed in a variety of...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: What I said is that my officials are currently exploring the prospect of updating the joint research but I think it has gone beyond the exploration stage as a result of the exchange this evening.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: The Deputy did. He is highly perceptive. Even though these are the words in front of me. I think we have gone beyond the exploration stage with this debate and we will work to have something available in advance of the budget to inform the discussion that is happening here. I will make a few points back. The current difficulty in the French Parliament in agreeing on the wealth is quite...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I will make two points. I do not believe Deputy Doherty can credibly say he wants to widen the tax base and, at the same time, be in favour of the abolition of the local property tax. It is not credible. I do not believe the stance taken by Deputy Doherty is a credible one. I do not think he can argue that he wants to widen the tax base and abolish the local property tax at the same time....

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I move amendment No. 24: In page 56, line 19, to delete “subsection (7)” and substitute “subsection (8)”. Section 40 introduces an enhanced corporation tax deduction for eligible construction expenditure with the goal of improving the viability of developing residential apartments. As this is a new measure, it may be of assistance to committee members if I...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I will address both within five minutes.

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: The development of apartments is a key goal of this Government and is vital in addressing the shortage of housing in our society. The high cost of developing apartments is creating a viability gap, preventing their construction in the numbers required to meet the Government’s housing targets. Section 40 introduces a new section 81E to the Taxes Consolidation Act 1997 to provide for...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: I guess this comes back again to the case I am making with regard to the fact that I intended this to be a viability measure as opposed to a measure that would affect the level of rent within the cost-rental unit itself. The aim of bringing this measure forward is, in a relatively moderate way, to try to make a contribution to the Land Development Agency to allow it to deliver more cost...

Select Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Finance Bill 2025: Committee Stage (5 Nov 2025)

Paschal Donohoe: Yes. That is a fair point. That is exactly it.

Written Answers — Department of Finance: Tax Exemptions (5 Nov 2025)

Paschal Donohoe: A temporary six-year exemption from Local Property Tax (LPT) is available for certain properties that have been damaged by the use of defective concrete blocks in their construction. The exemption will apply subject to meeting one of the following conditions:The property is eligible for the Defective Concrete Blocks Grant Scheme administered by Clare, Limerick, Sligo, Mayo and Donegal County...

Written Answers — Department of Finance: Tax Code (5 Nov 2025)

Paschal Donohoe: As the Deputy will be aware, it was announced in Budget 2026 that the VAT rate applied to the sale of new apartments will be reduced from 13.5% to 9% with effect from October 8 of this year. It has been acknowledged that the cost of developing apartments in Ireland has been a significant factor in constraining supply. This measure is aimed at addressing this viability issue, in line with...

Written Answers — Department of Finance: Revenue Commissioners (5 Nov 2025)

Paschal Donohoe: I am advised by Revenue that the total sums written off as a result of an individual or company going into liquidation or bankruptcy for each year from 2015 to 2024, and to date in 2025, are listed in the table below. Companies can go into liquidation either through the Creditors' Voluntary Liquidation process or through the Courts. The figures below reflect both liquidations from both...

Written Answers — Department of Finance: Fiscal Policy (5 Nov 2025)

Paschal Donohoe: The State invested €20.8bn in AIB between 2009 and 2011. Following settlement of the €390m AIB Warrant transaction announced in October 2025, c. €20.2bn has returned to the State from its investment in AIB. Following the IPO in 2017 and the various share sales, the shareholding in AIB was reduced from c.71.1% at the beginning of 2022 to zero in June 2025, raising c....

Written Answers — Department of Finance: Banking Sector (5 Nov 2025)

Paschal Donohoe: As Minister, I am supportive of the formal sale process announced by PTSB. A sale of the State's investment would be consistent with the State’s objectives of recovering taxpayer funds that were used to rescue Irish banks and deploying these to more productive purposes. Support for any sale will be subject to maximising value and finding a new shareholder committed to investing in and...

Finance Bill 2025: Financial Resolutions (4 Nov 2025)

Paschal Donohoe: I move: 1. THAT section 531AM of the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the main charging provisions for Universal Social Charge (USC), be amended in the manner and to the extent specified in the Act giving effect to this Resolution, to include a reference to Section 847AA which provides for a scheme of tax relief for donations to certain National Governing Bodies...

Written Answers — Department of Finance: Financial Services (4 Nov 2025)

Paschal Donohoe: In relation to evaluations of the Living City Initiative (LCI) by my Department, the following sets out the links to each published report: An ex-ante evaluation of the LCI pilot was undertaken by independent consultants, Indecon, in 2013 before the LCI was officially implemented. This report may be found at:Indecon 2013: A review undertaken by my Department in 2016 (in consultation with...

Written Answers — Department of Finance: Legislative Measures (4 Nov 2025)

Paschal Donohoe: I propose to take Questions Nos. 438 and 439 together. In October 2024, the then Minister for Finance, Jack Chambers TD, launched the National Payments Strategy (NPS). The NPS recognises that cash continues to be an important means of payment and store of value for many people in Ireland, especially for those who are elderly or digitally excluded. In relation to businesses accepting...

Written Answers — Department of Finance: Tax Code (4 Nov 2025)

Paschal Donohoe: I propose to take Questions Nos. 440 and 506 together. The Deputies have asked about deemed disposal rules for investments. Deemed disposal rules are an anti-avoidance measure that apply to investments in Irish domiciled investment funds and life assurance products, as well as equivalent offshore funds and certain foreign life assurance products. Under the deemed disposal rules, tax...