Results 3,941-3,960 of 32,432 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Business Supports (10 Nov 2022)

Paschal Donohoe: Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The aim of the scheme is to support qualifying businesses with their energy costs for the winter period and will run from 1 September 2022 to 28 February 2023. The scheme is designed to be compliant with the EU state aid Temporary Crisis Framework and will need to be approved by the EU...

Written Answers — Department of Finance: Vacant Properties (10 Nov 2022)

Paschal Donohoe: As the Deputy is aware, the Vacant Homes Tax (VHT) is a new measure announced in Budget 2023, which aims to increase the supply of homes for rent or purchase to meet demand. Further detail on this measure is set out in the Finance Bill which was published on 20 October. As stated in my Budget speech, this measure aims to increase the supply of homes for rent or purchase, rather than raise...

Written Answers — Department of Finance: Housing Provision (10 Nov 2022)

Paschal Donohoe: The Irish funding landscape has undergone significant change since the Global Financial Crisis in 2008. In order to address the current imbalance between supply and demand of housing across all tenure types, the Government's Housing for All plan aims to significantly increase the supply of housing to an average of 33,000 per year over the next decade. While the plan is backed by...

Written Answers — Department of Finance: Vehicle Registration Tax (10 Nov 2022)

Paschal Donohoe: Vehicle Registration Tax (VRT) was introduced by the Finance Act 1992 with effect from 1 January 1993. Unlike its predecessor – Motor Vehicle Excise Duty, which was charged on the VAT-exclusive value of a vehicle – the new VRT on a passenger car was chargeable on its Open Market Selling Price, which, in effect, is a VAT-inclusive value. Under the rules for Value-Added Tax...

Written Answers — Department of Finance: Real Estate Investment Trusts (10 Nov 2022)

Paschal Donohoe: I am aware that there has been a reduction in withholding tax paid by Irish Real Estate Funds (IREFs) in 2021 in respect of taxable events that occurred in accounting periods ended in 2020, relative to the amount paid in the preceding year. Revenue is currently undertaking a review to identify the reason(s) for this change. I am advised that the initial focus of the review is to analyse...

Written Answers — Department of Finance: Primary Medical Certificates (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 114, 118, 120, 122, 141 and 155 together. As the Deputies are aware, 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...

Written Answers — Department of Finance: Tax Credits (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 115 and 156 together. In my Budget 2023 address on 27 September last, I acknowledged the challenges that the Government faces in relation to housing. I also acknowledged that too many people are paying too much of their income in rent. As part of the response, I announced a new €500 Rent Tax Credit to assist renters, specifically those who do not...

Written Answers — Department of Finance: Tax Code (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 116 and 145 together. As the Deputies will be aware, the 9% rate for the tourism and hospitality sectors was reintroduced in Budget 2021 from 1 November 2020 to 31 December 2021 at an estimated cost of €401m. This measure was initially extended in Budget 2022 to 31 August 2022 at a further estimated cost of €251m. It was then extended again...

Written Answers — Department of Finance: Illicit Trade (10 Nov 2022)

Paschal Donohoe: I am assured by Revenue that combating the threat which fuel fraud and the illicit alcohol and tobacco trades pose to legitimate businesses, consumers and the Exchequer continues to be a priority for the organisation. Steps taken by Revenue to combat the illegal mineral oils trade include the application of stringent supply chain controls and reporting requirements, a programme of risk...

Written Answers — Department of Finance: Business Supports (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 121 and 133 together. The Temporary Business Energy Support scheme (TBESS) will assist businesses with their energy costs over the winter months. The TBESS is subject to State aid approval. Provided such approval is received in the coming weeks, it is expected that the scheme, which will be administered by the Revenue Commissioners, will be open for...

Written Answers — Department of Finance: Tax Code (10 Nov 2022)

Paschal Donohoe: The Finance Act 2012 introduced section 664A of the Taxes Consolidation Act 1997, which provides that a farmer may take an income tax or corporation tax deduction for farm diesel (including any carbon tax charged in respect of diesel), and then a further additional deduction for farm diesel which is equal to the difference between the carbon tax charged and the carbon tax that would have been...

Written Answers — Department of Finance: Insurance Industry (10 Nov 2022)

Paschal Donohoe: The Programme for Governmentrecognises that insurance is a significant issue for some businesses, motorists, and households, as well as sporting, community, and voluntary groups. Accordingly, the Cabinet Committee Sub-Group on Insurance Reform was established to prioritise further action in this area, with a focus on helping to reduce insurance costs, and increasing the availability of cover....

Written Answers — Department of Finance: Tax Code (10 Nov 2022)

Paschal Donohoe: The Accelerated Capital Allowance (ACA) scheme for Energy Efficient Equipment (EEE) encourages taxpayers to adopt equipment which is highly energy efficient. The scheme allows taxpayers to deduct the full cost of expenditure on eligible equipment from taxable profits for the year in which the equipment is first used for the purposes of the trade. This differs from the standard treatment...

Written Answers — Department of Finance: Tax Reliefs (10 Nov 2022)

Paschal Donohoe: I am aware that the Deputy has a particular perspective in relation to the help-to-buy scheme which was set out comprehensively in the context of the second-stage debate on Finance Bill 2022 on 25 October last. As I indicated in my Budget 2023 address to the House on 27 September, the Help-to-Buy scheme has been a significant support for first time buyers of new homes. Since its...

Written Answers — Department of Finance: Business Supports (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 127, 158 and 203 together. 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. The TBESS will be available to tax compliant businesses carrying on a trade or...

Written Answers — Department of Finance: Tax Code (10 Nov 2022)

Paschal Donohoe: At the outset, the Deputy should note that two taxes apply to fuel supplies: excise duty, in the form of Mineral Oil Tax (MOT), and Value-Added Tax (VAT). Ireland’s excise regime for 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...

Written Answers — Department of Finance: Tax Collection (10 Nov 2022)

Paschal Donohoe: I am advised by Revenue that a taxpayer’s Income Tax liability is calculated on their total income from all sources, rather than being separately calculated for each source of income (such as rental income) and having regard to any relevant reliefs or credits. For this reason, it is not possible to identify and publish tax paid arising from rental income alone.

Written Answers — Department of Finance: Vacant Properties (10 Nov 2022)

Paschal Donohoe: As the Deputy is aware, the Vacant Homes Tax (VHT) is a new measure announced in Budget 2023, which aims to increase the supply of homes for rent or purchase to meet demand. Further detail on this measure is set out in the Finance Bill, which was published on 20 October. The introduction of this tax follows from my Department's commitment under Housing for Allto collect data on vacancy with a...

Written Answers — Department of Finance: Inflation Rate (10 Nov 2022)

Paschal Donohoe: Consumer price (HICP) inflation picked up sharply over the course of the last year and in October stood at 9.6 per cent. Almost every advanced country in the world is in the same position, with euro area inflation reaching a record 10.7 per cent in October. The key driver of global inflationary pressures at present is the sharp rise in energy, food and other commodity prices as a result of...

Written Answers — Department of Finance: EU Meetings (10 Nov 2022)

Paschal Donohoe: On Monday 7th November, I chaired the most recent meeting of the Eurogroup. The agreed summing up letter of the meeting will be published in due course on the Eurogroup website. In advance of its publication, I can inform the Deputy that the Eurogroup meeting discussed the macro-economic situation in the euro area, and Ministers reiterated our previously expressed view that our economy is...