Results 381-400 of 33,055 for speaker:Paschal Donohoe

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Developments in the Economy in the Year to Date: Minister for Finance (28 May 2025)

Paschal Donohoe: Of course.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Developments in the Economy in the Year to Date: Minister for Finance (28 May 2025)

Paschal Donohoe: No, not really. The difficulty companies face in scaling up from being medium-sized businesses to becoming very large businesses is a well-documented issue across developed economies. We have that issue in Ireland, as do lots of other economies. The issue of the Stock Exchange is not just an Irish issue. We are seeing stock exchanges all over Europe now begin to see businesses that were...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Developments in the Economy in the Year to Date: Minister for Finance (28 May 2025)

Paschal Donohoe: Is this the growth of our domestic economy?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Developments in the Economy in the Year to Date: Minister for Finance (28 May 2025)

Paschal Donohoe: I see that having limited potential for our economy. The reason for that is the importance of the direct link between the US and Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Developments in the Economy in the Year to Date: Minister for Finance (28 May 2025)

Paschal Donohoe: Companies that we have located here would not want to use a third country to circumvent tariffs because of the economic and reputational risks for them. From our point of view, the big benefit companies have is they can just ship right to the US. Geographically, it is harder to see where they could be diverted to. I think that will have a limited effect.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Developments in the Economy in the Year to Date: Minister for Finance (28 May 2025)

Paschal Donohoe: This is an idea that the Minister, Deputy Browne, raised. Like all these ideas, it is one I am certainly willing to consider, have a look at and work with him on. This is in the context of the new housing plan the Government is working on. If we were to agree to something like that, I am sure that is the place where we would agree it. At this point, the Minister has raised it as a...

Written Answers — Department of Finance: Departmental Schemes (28 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...

Written Answers — Department of Finance: Data Protection (28 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 116, 117 and 118 together. I am advised by Revenue that the disposal of call recording records in accordance with the “Schedule of Records” and “Records Retention and Disposal Policy” published on Revenue.ie is not considered a personal data breach for the purposes of Article 4 (12) of the General Data Protection Regulation. The...

Written Answers — Department of Finance: Departmental Correspondence (28 May 2025)

Paschal Donohoe: An “Exchange Traded Fund” or “ETF” is an investment fund that is traded on a regulated stock exchange. A typical ETF can be compared to a tracker fund in that it will seek to replicate a particular index. There is no separate taxation regime specifically for ETFs. ETFs, being collective investment funds, generally come within the regimes set out in the Taxes...

Written Answers — Department of Finance: Mortgage Interest Rates (28 May 2025)

Paschal Donohoe: Matters in relation to personal insolvency, and the processing of personal insolvency cases, are a matter for the Department of Justice. In relation to interest rates, the formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB).  The ECB increased official interest rates over the course of 2022 and 2023 as it moved to combat...

Written Answers — Department of Finance: Fines Administration (28 May 2025)

Paschal Donohoe: I am advised by Revenue that the payment of court imposed fines and penalties is a matter for the Courts Service and the Department of Justice. Any consideration of an expansion of the collection mechanisms for such fines and penalties would require careful consideration and would be a matter for the Minister for Justice in the first instance. If the Deputy wishes to provide further...

Written Answers — Department of Finance: Illicit Trade (28 May 2025)

Paschal Donohoe: I am advised that since 2009, Revenue, in conjunction with the HSE’s National Tobacco Control Office, has commissioned Ipsos MRBI to conduct annual independent market research among smokers about the source of their cigarettes. The purpose of this research is to estimate the volume of non-Irish duty paid cigarettes being consumed in Ireland. Since 2013, this cigarette research has been...

Written Answers — Department of Finance: Climate Action Plan (28 May 2025)

Paschal Donohoe: Section 118(5A) of the Taxes Consolidation Act 1997 (TCA) provides for an exemption from benefit-in-kind (BIK) where an employer purchases a travel pass for one of their employees or directors. This is commonly known as the TaxSaver scheme. Under section 118B TCA, an employer and employee may also enter into a salary sacrifice arrangement under which the employee agrees to sacrifice part of...

Written Answers — Department of Finance: Tax Code (28 May 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law is obliged to comply. The Directive requires each Member State to maintain a standard rate of VAT, and permits a Member State to apply up to two reduced rates of VAT. On this basis, Ireland applies a standard rate of 23%, and two reduced rates of 13.5% and 9%. In general, the EU VAT Directive provides...

Written Answers — Department of Finance: Tax Code (28 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 125, 126 and 127 together. The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law is obliged to comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within the certain listed categories to which Member States may apply a lower rate. Motor...

Written Answers — Department of Finance: Tax Code (28 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 128 and 132 together. I am advised by Revenue that Vehicles with an Open Market Selling Price (OMSP) of up to €40,000 are granted VRT relief of up to €5,000 while Vehicles with an OMSP of greater than €40,000 but less than €50,000 receive a reduced level of VRT relief. Electric vehicles above €50,000 are not eligible for...

Written Answers — Department of Finance: Tax Code (28 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 129, 130 and 131 together. I am informed by Revenue that they do not hold any data in relation to airline ticket sales or flight data. There is no requirement for Revenue to collect this type of information for tax or compliance purposes and therefore they have no basis on which to estimate the revenue that would be raised by the introduction of a levy on...

Written Answers — Department of Finance: Vacant Properties (28 May 2025)

Paschal Donohoe: The Vacant Homes Tax (VHT) was announced in Budget 2023 and legislated for in Finance Act 2022. The main objective of this tax is to increase the supply of homes for rent or purchase by encouraging the owners of vacant, habitable, residential properties to bring those properties back into use. A residential property will be within the scope of the tax if it has been occupied as a dwelling for...

Written Answers — Department of Finance: Tax Code (28 May 2025)

Paschal Donohoe: I am informed by Revenue that the data systems available to provide responses to queries on specific ownership of residential properties do not contain information on declarants in an integrated fashion that readily facilitates statistical analysis in the nature requested in this instance. Therefore, it has not been possible in the time available to finalise all of this data. Revenue is...

Written Answers — Department of Finance: Financial Services (28 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 135 and 136 together. The Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 (the 2015 Act) and the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018 (the 2018 Act) applies to the activity of credit servicing in relation to relevant credit agreements. The Consumer Protection (Regulation of Retail Credit and Credit...