Results 3,801-3,820 of 32,432 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I thank the Chairman. On Deputy Doherty's question about how we can offer assistance to small and micro enterprises, the Finance Bill introduces measures to support companies undertaking smaller research and development projects and to encourage new claimants to engage with the research and development tax credit regime for the first time. The first €25,000 of a claim that represents...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: Yes. If it is for amounts more than €100,000 that it will be payable over a three-year period. There will be €50,000 payable in year 1, €30,000 in year 2 and €20,000 in year 3. That is the way it will work. I believe the changes we have made will be of help. I, or the Minister for Finance of the day, will assess whether any further changes are merited and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: May I respond very quickly? I know we are coming to a quick break. I have three points. The Deputy called for more research to be done regarding the operation of the research and development tax credit. The Department published a paper evaluating the operation of this credit in September, which is publicly available, because the Deputy is right, this is a large amount of taxpayers' money....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I move amendment No. 43: In page 73, line 14, to delete “or section 766C(2)” and substitute “or 766C(1)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)

Paschal Donohoe: I move amendment No. 44: In page 73, line 16, to delete “or section 766C(2)” and substitute “or 766C(1)”.

Written Answers — Department of Finance: Tax Code (15 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 191, 192, 196, 207, 209, 213 and 214 together. 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...

Written Answers — Department of Finance: Tax Code (15 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 193 and 194 together. Given the critical role that newspapers play in our society at both local and national level, and the very challenging environment they have to operate in, I made the decision that the VAT rate on newspapers and electronically supplied newspapers be reduced from 9% to zero from 1 January 2023. This measure has an estimated annual cost...

Written Answers — Department of Finance: Pension Levy (15 Nov 2022)

Paschal Donohoe: I am advised by Revenue that an annual levy was charged on pension schemes from 2011 to 2015 in accordance with section 125B of the Stamp Duties Consolidation Act 1999. The levy was introduced in the wake of the financial crash, at a time when the economy was in very serious difficulties. It was charged on the market value of assets in pension schemes held on 30 June in each year, at a rate...

Written Answers — Department of Finance: Tax Reliefs (15 Nov 2022)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government includes a commitment to facilitate and support remote working. The National Remote Work Strategy aims to make remote work a permanent feature of the Irish working experience in a way that maximises the economic, social and environmental benefits. As part of the national remote working strategy: Making Remote Work, the Tax...

Written Answers — Department of Finance: Tax Reliefs (15 Nov 2022)

Paschal Donohoe: The Deputy’s question relates to the applicability of the ‘Cycle to Work’ scheme to elected representatives at local government level. Cycle to Work Scheme Section 118(5G) of the Taxes Consolidation Act (TCA) 1997 provides for the ‘Cycle to Work’ scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a new bicycle...

Written Answers — Department of Finance: Data Protection (15 Nov 2022)

Paschal Donohoe: First, neither I nor the Central Bank of Ireland has a role in providing exemptions to data protection legislation. The application of the data protection legislative framework is a matter for the Data Protection Commission. As the Deputy is aware, KBC and Bank of Ireland have entered an agreement where Bank of Ireland would acquire the majority of KBC Bank Ireland’s loan assets...

Written Answers — Department of Finance: Real Estate Investment Trusts (15 Nov 2022)

Paschal Donohoe: A Real Estate Investment Trust (REIT) is a quoted company, used as a collective investment vehicle to hold rental property. The function of the REIT framework is to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment via a corporate vehicle. The Department of Finance has not undertaken research into...

Written Answers — Department of Finance: Financial Services (15 Nov 2022)

Paschal Donohoe: I am advised by the Financial Services and Pensions Ombudsman (FSPO) that it resolves most of the complaints it receives through methods other than adjudication, such as mediation in its Dispute Resolution Service, or early-stage assessment. So far this year, complaints resolved by way of a legally binding decision have accounted for only 9% of all complaints closed. For example, in October...

Written Answers — Department of Finance: Post Office Network (15 Nov 2022)

Paschal Donohoe: As the Deputy may be aware, my Department published a report in December 2019 by Indecon Consulting on an Evaluation of the Concept of Community Banking in Ireland. This was a follow on to a previous paper on Local Public Banking published by my Department in 2018. The Indecon report concluded that there is no business case for the State to establish a community banking system in Ireland;...

Written Answers — Department of Finance: Tax Collection (15 Nov 2022)

Paschal Donohoe: I am advised by Revenue that there is a Local Property Tax (LPT) balance on the property concerned of €666.00, excluding interest, for the years 2018 to 2021. Revenue previously advised the liable owner that a phased payment arrangement option is available, whereby an individual can pay a set amount each month over an agreed period. Alternatively, they may apply to defer payment...

Written Answers — Department of Finance: Credit Availability (15 Nov 2022)

Paschal Donohoe: Through the implementation of the Housing for All strategy, the Government plans to increase the supply of housing to an average of 33,000 per year over the next decade. This is an ambitious plan which will provide increased housing supply and affordability. While the plan is backed by unprecedented State investment, the Government cannot deliver on this programme alone. The only way we...

Written Answers — Department of Finance: Tax Code (15 Nov 2022)

Paschal Donohoe: The Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Code (15 Nov 2022)

Paschal Donohoe: As the Deputy may be aware, the working group he refers to is a recommendation of the Commission on Taxation and Welfare who published their report Foundations for the Future earlier this year. The Commission considered how the overall balance of taxation might shift in order to sustainably fund public services over the longer-term, and made a range of recommendations aimed at improving the...

Written Answers — Department of Finance: Primary Medical Certificates (15 Nov 2022)

Paschal Donohoe: I committed to a comprehensive review of the DDS to include a broader review of mobility supports. In order to achieve this objective, Minister O’Gorman agreed in September 2021 that the DDS review should be incorporated into the work of the National Disability Inclusion Strategy (NDIS) Transport Working Group (TWG). The Working Group, under the Chairpersonship of Minister of State...

Written Answers — Department of Finance: Primary Medical Certificates (15 Nov 2022)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief, the applicant must hold a...