Results 3,981-4,000 of 32,432 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Revenue Commissioners (10 Nov 2022)

Paschal Donohoe: My Enquiries is a secure online service that allows customers to send, receive and track correspondence to and from Revenue. Revenue’s published customer service standards set out the standard of service customers can expect. Revenue reports on its performance including against the customer service standards in its annual report which is available on Revenue's website. The...

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

Paschal Donohoe: The below computations set out the PAYE income tax, PRSI and Universal Social Charge (USC) for the taxpayer unit cases request by the Deputy. It should be noted that for the purposes of answering the Deputy’s question it was necessary to make a number of assumptions, for example, that the taxpayers are private sector employees and full rate PRSI contributors. Example 1 – Couple...

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

Paschal Donohoe: As I announced in my Budget 2023 speech in September, there are five agri-tax reliefs that are due to expire at the end of this year. They are: (1) the Young Trained Farmer Stamp Duty Relief; (2) the Farm Consolidation Stamp Duty Relief; (3) the Farm Restructuring CGT Relief; (4) the Young Trained Farmer Stock Relief; and, (5) the Registered Farm Partnership Stock Relief As each of...

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 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 scheme is designed to be compliant with the EU state aid Temporary Crisis Framework and will need to be approved by the EU Commission in...

Written Answers — Department of Finance: Ukraine War (10 Nov 2022)

Paschal Donohoe: The economic and financial impact of the Russian aggression against Ukraine was discussed at ECOFIN in Brussels, on 8 November. The economic outlook continues to be dominated by the impact of the war in Ukraine, with implications for inflationary pressures across global and EU economies. Ministers agreed to continue to take necessary actions to mitigate the impact on our economies,...

Written Answers — Department of Finance: Cost of Living Issues (10 Nov 2022)

Paschal Donohoe: The 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...

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

Paschal Donohoe: Officials in my Department produced a report on Real Estate Investment Trusts (REITs), Irish Real Estate Funds (IREFs) and Section 110 companies with respect to their investment in the Irish property market in 2019. The report was presented to the Tax Strategy Group and provided a basis for policy discussions and for amendments which were introduced in Finance Act 2019 to strengthen the...

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

Paschal Donohoe: I can confirm that in line with my Budget Speech it is my intention to apply a zero rate of VAT to print and online newspapers from 1 January 2023.

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

Paschal Donohoe: I propose to take Questions Nos. 200 and 201 together. Farmers will be eligible for payments under the TBESS in the same way as any other business that is carrying on a trade which is taxable under Case I of Schedule D where they meet all eligibility criteria. A person engaged in a trade of farming who has suffered an increase of at least 50% in the average unit price of electricity...

Written Answers — Department of Finance: Fuel Prices (10 Nov 2022)

Paschal Donohoe: The price of fuel is determined by a number of factors such as global market dynamics, costs of labour, exchange rates, taxation as well as wholesale and retail pricing policy practices which may include additional pricing to cover transport and distribution costs. The Government has acted to limit the impact of increased prices on households and businesses via reductions in VAT, excise and...

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

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate (currently 23% in Ireland), unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member...

Written Answers — Department of Finance: Banking Sector (10 Nov 2022)

Paschal Donohoe: While it is regrettable that Ulster Bank and KBC have decided to exit the market, as Minister for Finance, I do not have a role in the operations of any bank operating within the State. Decisions in this regard are commercial matters and are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. My priority now is that...

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

Paschal Donohoe: I am advised by Revenue that, according to the information available to them, the person concerned is currently in receipt of the appropriate tax credits and standard rate band allocations. However, given the circumstances outlined in the details supplied, the person may be eligible to claim the Single Person Child Carer Tax Credit (SPCCC) and an additional standard rate band of...

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

Paschal Donohoe: I propose to take Questions Nos. 208 and 210 together. The 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...

Written Answers — Department of Finance: Fiscal Policy (10 Nov 2022)

Paschal Donohoe: Putin’s illegal and immoral invasion of Ukraine and the weaponisation of gas supplies has triggered an exceptionally large energy price shock which has reverberated throughout the globe. Consumer price (HICP) inflation has picked up sharply as a result and stood at 9.6 per cent in October. Almost every advanced country in the world is in the same position, with euro area inflation...

Written Answers — Department of Finance: Economic Policy (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 211 and 214 together. Ireland is currently facing many of the same economic headwinds as the wider European economy. The invasion of Ukraine and Russia’s weaponisation of gas supplies has triggered an exceptionally large energy price shock and undermined global economic prospects. Europe has been particularly exposed to the economic consequences of...

Written Answers — Department of Finance: Foreign Direct Investment (10 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 212 and 213 together. Ireland’s industrial policy has been highly successful in attracting foreign direct investment (FDI), contributing to sustained economic activity over the past number of decades. The strong regulatory and legal environment as well as stable and pro-enterprise policy, combined with a talented workforce, is reflected in the level...

Written Answers — Department of Finance: Budget 2023 (10 Nov 2022)

Paschal Donohoe: Following the full easing of pandemic-related restrictions earlier this year, economic activity rebounded strongly with little, if any, evidence of permanent ‘scarring’ to the economy. However, the invasion of Ukraine and Russia’s weaponisation of energy supply has triggered a large energy price shock and undermined global economic prospects. Inflationary pressures have...

Written Answers — Department of Finance: Economic Policy (10 Nov 2022)

Paschal Donohoe: The Irish economy began this year on a solid footing. As we emerged from pandemic-relating restrictions, economic activity rebounded strongly with little, if any, evidence of permanent ‘scarring’ to the economy. However, the global economic outlook quickly deteriorated as Putin’s war in Ukraine and weaponisation of energy supply sparked inflationary pressures. We...

Written Answers — Department of Finance: Economic Policy (10 Nov 2022)

Paschal Donohoe: The 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...