Results 21-40 of 32,512 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (1 May 2025)

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 (TCA 1997) sets out a regime for the taxation of special purpose companies set up to securitise assets. The tax provisions are intended to create a tax neutral regime for bona-fide securitisation and structured finance purposes. The section 110 regime enables noteholders to invest through one structured vehicle, without giving rise to an...

Written Answers — Department of Finance: Banking Sector (1 May 2025)

Paschal Donohoe: I am advised by the Central Bank that it exchanged a total value of £7.05m (€8.96) in Irish Punt banknotes and coins between 01/01/2015 and 25/04/2025. The table below shows a breakdown by year: Year IEP £ EUR € 2015 £1,002,399 € 1,272,784 2016 £1,022,484 ...

Written Answers — Department of Finance: Departmental Schemes (1 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: Departmental Properties (30 Apr 2025)

Paschal Donohoe: I wish to advise the Deputy that my Department does not lease any properties and is provided with accommodation by the OPW.

Written Answers — Department of Finance: Revenue Commissioners (30 Apr 2025)

Paschal Donohoe: I am advised by Revenue that section 141 of Finance Act 2001 provides that Revenue may seize any goods or vehicles that are liable to forfeiture under the excise legislation. The primary offences that these laws relate to are offences regarding Vehicle Registration Tax (VRT) and Marked Mineral Oil (MMO). Vehicles may also be seized where they are used as a conveyance for offences relating to...

Written Answers — Department of Finance: Tax Code (30 Apr 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: Tax Credits (30 Apr 2025)

Paschal Donohoe: Section 472BB of the Taxes Consolidation Act 1997 (TCA 1997) provides that a tax credit, called the Sea-going Naval Personnel Tax Credit (the credit), is available to those who satisfy the qualifying conditions of that section. It was introduced in Finance Act 2019 in recognition of the proportion of their time that naval personnel spend away from the State at sea providing support to the...

Written Answers — Department of Finance: Fiscal Policy (30 Apr 2025)

Paschal Donohoe: The Ireland Strategic Investment Fund portfolio is constructed within the legislative framework set for it by the Oireachtas. The National Treasury Management Agency (Amendment) Act 2014, (“The Act”) sets out ISIF’s mandate with regard to the investment of the assets of the Fund other than directed investments. Under the Act the Agency has responsibility for determining,...

Written Answers — Department of Finance: Financial Services (30 Apr 2025)

Paschal Donohoe: My officials continue to work closely with the Central Bank of Ireland (CBI) to identify gaps in available data on the investment funds sector. The CBI is committed to using data to deliver optimal supervisory outcomes. At a European level, the CBI are working with the European Securities and Markets Authority (ESMA) and peer National Competent Authorities (NCAs) on the development of...

Written Answers — Department of Finance: Financial Services (30 Apr 2025)

Paschal Donohoe: Statistical data on regulated funds domiciled in Ireland are disseminated on a quarterly basis via a statistical release publication and tables on the Central Bank website www.centralbank.ie/statistics/data-and-analysis/other-financ ial-sector-statistics/investment-funds, and via the Open Data Portal opendata.centralbank.ie/dataset/?organization=investment-fun ds. Beyond the regular...

Written Answers — Department of Finance: Financial Services (30 Apr 2025)

Paschal Donohoe: On 22 October 2024 ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ was published. It was a wide-ranging review of the funds and asset management sector. The Review included a detailed examination of Ireland’s regulatory and supervisory regime for funds and included a recommendation that industry consider the feasibility and design of a...

Written Answers — Department of Finance: Fiscal Data (30 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 41 and 42 together. The National Treasury Management Agency (NTMA) has informed me that based on the most recently published General Government debt and interest figures from the CSO, the average interest rate on Ireland’s General Government debt was 1.5% in 2024. Additionally, the NTMA has advised that the weighted average yield on...

Written Answers — Department of Finance: Fiscal Data (30 Apr 2025)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has supplied me with the table below which shows the total amount of 10 Year National Solidarity Bonds, 5 Year Savings Certificates, 3 Year Savings Bonds and Prize Bonds in circulation since 2015 and annual interest repayment for each category of bond each year. Interest repayment includes interest paid to customers because of products...

Written Answers — Department of Finance: Financial Services (30 Apr 2025)

Paschal Donohoe: An Exchange Traded Fund (ETF) is an investment fund that can be traded on exchange similar to other listed stocks or securities. In order to facilitate the trading of shares in the ETF, it relies on Authorised Participants and Market Makers to provide market liquidity and pricing. Authorised Participants and Market Makers play an important role in arbitraging any pricing differential that...

Written Answers — Department of Finance: Financial Services (30 Apr 2025)

Paschal Donohoe: I wish to advise the Deputy that it was not possible to collate the information sought in the time available and, therefore, I will make arrangements to provide the information to the Deputy as soon as possible and in line with Standing Order 42A.

Written Answers — Department of Finance: Tax Avoidance (30 Apr 2025)

Paschal Donohoe: The process of ensuring that taxation relief is availed of in an appropriate manner is ongoing and continuous and involves Revenue and my Department working closely together to monitor developments, assess data and, where necessary, amend provisions to avoid misuse. As the Deputy is aware, Section 22 Finance Act 2022 removed the difference in treatment between PRSAs and occupational...

Written Answers — Department of Finance: Tax Avoidance (30 Apr 2025)

Paschal Donohoe: As outlined in response to Questions Nos. 64, 65 and 66 on 9 April last, section 22 Finance Act 2022 amended the provisions for employer PRSA contributions. As with any change in tax policy, Revenue monitored developments after the introduction of these provisions. From Revenue’s analysis of employer PRSA contributions in 2023, it appeared some cases displayed behaviour that was not in...

Written Answers — Department of Finance: Fiscal Policy (30 Apr 2025)

Paschal Donohoe: I am informed by the National Treasury Management Agency (NTMA) that the Future Ireland Fund and the Infrastructure, Climate and Nature Fund are not currently invested in Irish sovereign or Irish quasi-sovereign debt.

Written Answers — Department of Finance: Tax Data (30 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 49 to 51, inclusive, together. I am advised by Revenue that the Capital Acquisition Tax (CAT) heritage-based exemptions that the Deputy is referring to include, as part of their eligibility conditions, a requirement that “reasonable facilities for viewing” are provided in respect of the heritage object, or heritage house or garden, as the case...

Written Answers — Department of Finance: Land Issues (29 Apr 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...