Results 21-40 of 33,392 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Data (17 Jul 2025)

Paschal Donohoe: The restriction of reliefs' measure for individuals on high incomes, who make significant use of certain specified tax reliefs, was announced in Budget 2006 and came into effect from 1 January 2007. The intention of the restriction is to seek to improve the balance between promoting tax equity in relation to those on high incomes while at the same time maintaining the incentive effect of the...

Written Answers — Department of Finance: Revenue Commissioners (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that it currently has 537 staff based in the O’Connell Street Complex, which comprises of 8,288 square metres. The O’Connell Street Complex also contains Revenue’s Central Revenue Information Office, which is open to the public Monday to Friday, from 09:30 to 13:30.

Written Answers — Department of Finance: Departmental Contracts (17 Jul 2025)

Paschal Donohoe: I wish to advise the Deputy that my Department has not procured any services from the company Starlink. In relation to the bodies under the aegis of my Department, the Office of the Revenue Commissioners has advised as follows: The Office of the Revenue Commissioners is committed to targeting the illegal importation and exportation of prohibited and restricted goods and implements a...

Written Answers — Department of Finance: Tax Reliefs (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that it is not currently in a position to provide data on the number of taxpayer units making pension contributions who are availing of 40% relief on those contributions. Pension contributions are primarily administered through payroll, where the level of pay for income tax is calculated by the employer, with reference to an individual’s gross pay and their...

Written Answers — Department of Finance: Universal Social Charge (17 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 244 and 245 together. I am advised by Revenue that the table below sets out the estimated first and full year costs to the Exchequer, in 2025, of each proposal outlined by the Deputy. Proposal First Year €bn. Full Year €bn. Reduce the USC rates from 0.5% to 0%, 2% to 0% and increase the USC...

Written Answers — Department of Finance: Tax Data (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the details of asset disposals which taxpayers are obliged to include in their returns do not include specific reference to the disposal of ‘above-the -shop’ units. As such, there is no basis upon which to provide an estimate requested by the deputy.

Written Answers — Department of Finance: Revenue Commissioners (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the number of Form 11 filers who filed a return for 2021 and indicated that they were non-domiciled in Ireland was 59,600, with 41,900 of these also indicating that they were either resident or ordinarily resident in Ireland. I am further advised by Revenue that the number of Form 11 filers who filed a return for 2022 and indicated that they were non-domiciled...

Written Answers — Department of Finance: Tax Collection (17 Jul 2025)

Paschal Donohoe: This response assumes that the Deputy is referring to the remittance basis of assessment that applies to individuals who are resident or ordinarily resident, but not domiciled in the State. Under the remittance basis, non-domiciled individuals pay tax on: (1) Income and gains arising in Ireland, (2) Foreign income which they “remit” or bring into the...

Written Answers — Department of Finance: Tax Collection (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the estimated revenue raise by applying a 1% increase on the tax rate for capital gains tax, capital acquisitions tax and deposit interest retention tax (DIRT) can be found in the Revenue Ready Reckoner (Post Budget 2025 – pages 13,14 and 10), available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf. In...

Written Answers — Department of Finance: Departmental Data (17 Jul 2025)

Paschal Donohoe: Below are the holdings for 2022 to 2024 inclusive of Israeli sovereign debt held by ISIF. Year Value 2022 €2.69m 2023 €2.62m 2024 €3.62m Given the recent escalating geopolitical tensions and conflict in the Middle East, ISIF determined that the risk profile of a number...

Written Answers — Department of Finance: Departmental Bodies (17 Jul 2025)

Paschal Donohoe: “Bogus self-employment” is the description commonly given to a scenario where an individual engaged to do a job is wrongly classified as being self-employed by an employer who seeks to avoid employment related obligations. A person’s employment status has implications for tax purposes, PRSI and employment rights. There are a number of statutory bodies whose remit...

Written Answers — Department of Finance: Tax Data (17 Jul 2025)

Paschal Donohoe: I assume that the Deputy’s reference to “foreign earnings” relates to income derived from a foreign employment. Capital Acquisitions Tax (CAT) is a tax on gifts and inheritances that arises when a person receives a benefit without paying full consideration for that benefit. An income received from a person’s employer in consideration for the performance of...

Written Answers — Department of Finance: Tax Avoidance (17 Jul 2025)

Paschal Donohoe: I am advised by Revenue that the tax avoidance surcharge is an additional penalty applied under Section 811C of the Taxes Consolidation Act 1997 to deter taxpayers from engaging in tax avoidance transactions. A tax avoidance surcharge applies where a person seeks to obtain the benefit of any tax advantage which is withdrawn by Section 811C General Anti Avoidance Rule (GAAR) or one of the...

Written Answers — Department of Finance: Financial Services (16 Jul 2025)

Paschal Donohoe: On the 22nd of October 2024, following Government approval, my predecessor published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ a wide-ranging review of the funds and asset management sector. The Review fulfilled a recommendation of the Commission on Taxation and Welfare 2022 report mentioned by the Deputy, which called for an...

Written Answers — Department of Finance: Enterprise Policy (16 Jul 2025)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. In the Programme for Government 2025 it was pledged to support SMEs, particularly those in the retail and hospitality sectors, by examining changes to VAT, PRSI and other measures. Any...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: Capital Gains Tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a residential property, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of an individual’s principal private residence (PPR), being a...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: A range of tax-based measures are in place to support or encourage the bringing of vacant residential properties back into use and to increase housing supply. These include the Living City Initiative, pre-letting expenses for vacant properties, the Vacant Homes Tax and the Residential Zoned Land Tax. Additionally, the Department of Housing, Local Government and Heritage provides funding...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: The Programme for Government 2025 commits to introducing a new, all-of-Government national housing plan to follow Housing for All. Any proposals in respect of new or existing measures will be considered in this context. Furthermore, it is a long-standing practice of the Minister for Finance not to comment on any tax matters that might be the subject of Budget decisions. The Vacant Homes...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: As the Deputy may be aware, under the EU VAT Directive, which Irish VAT law must comply, the VAT rate applied to goods and services must be the standard rate unless they are listed under Annex III of the Directive which allows for a reduced rate of VAT. Construction products and materials are not included in Annex III of the Directive so no reduced rate can be applied to them. Ireland...

Ceisteanna Eile - Other Questions: National Treasury Management Agency (15 Jul 2025)

Paschal Donohoe: I have shared this information with the Dáil on a number of occasions since I was reappointed as Minister for Finance. I am absolutely aware of all the awful humanitarian catastrophe that is unfolding on the people of Gaza and the House is aware of the very strong diplomatic action that this State is taking with regard to it. On this particular issue, as I said, ISIF has divested from...