Results 4,141-4,160 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (9 Nov 2022)

Paschal Donohoe: On 23 November last, I published the Terms of Reference for a broad-ranging review of the retail banking sector in Ireland. The Review is being conducted by officials in my Department with assistance from other Government agencies and Departments. At the time of publishing the Terms of Reference, it was confirmed that the Review team would report to me in November 2022. Although the...

Written Answers — Department of Finance: Banking Sector (9 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 32 to 34, inclusive, together. As I have previously stated, the Irish Government believes that banking is an activity that should be provided by the private sector and that taxpayer funds which were used to rescue the banks should be recovered and used for more productive purposes. The State has made good progress in delivering on its policy of returning both...

Written Answers — Department of Finance: Banking Sector (9 Nov 2022)

Paschal Donohoe: In answering the Deputy's question, I should note that a recommendation to pay dividends is the sole responsibility of the board and management of the banks. I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. I also wish to highlight that ECB guidance in relation to the COVID-19 pandemic in March and...

Written Answers — Department of Finance: Banking Sector (9 Nov 2022)

Paschal Donohoe: I have not held meetings with Irish banks about the rate of interest paid on customer deposits. Neither I nor the Central Bank of Ireland have a role in prescribing or the setting of deposit interest rates offered by banks. These 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. Although...

Written Answers — Department of Finance: Tax Code (9 Nov 2022)

Paschal Donohoe: The position is that married persons or civil partners who are legally separated are generally taxed as single persons from the date of their separation. A formal separation for this purpose means a separation under an Order of Court or Deed of Separation, or other circumstances in which the couple are in fact separated and the separation is likely to be permanent. As single persons,...

Written Answers — Department of Finance: Departmental Bodies (9 Nov 2022)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief, the applicant must hold a...

Written Answers — Department of Finance: Insurance Industry (9 Nov 2022)

Paschal Donohoe: Firstly, it is important to note that neither I, nor the Central Bank, have the power to direct insurers to sell any specific product, or to make it available at a particular price. This stance is reinforced by the EU Solvency II directive which expressly prohibits Government from doing so. Notwithstanding this, insurance reform is a key priority for this Government. As the Deputy is...

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2022)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C of the Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: Energy Prices (8 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 TBESS will be available to tax compliant businesses carrying on a trade or profession, the profits of which are chargeable to tax under...

Written Answers — Department of Finance: Departmental Bodies (8 Nov 2022)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief, the applicant must hold a...

Written Answers — Department of Finance: Ukraine War (8 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 248 and 249 together. I wish to advise the Deputy that occupied premises under my Department's remit are leased through the Office of Public Works, and therefore are not owned by my Department. I can assure the Deputy that there are no properties vacant under my Department’s remit, this includes shared accommodations with other Government Departments....

Written Answers — Department of Finance: National Asset Management Agency (8 Nov 2022)

Paschal Donohoe: The Deputy will be aware that NAMA was established as an independent commercial body and I, as Minister for Finance, do not have a role in its operations or decisions. I am advised that the development at Carrickmines Green is not owned or controlled by NAMA. The development is a private residential development consisting of a number of apartment blocks and houses. Each apartment owner owns...

Written Answers — Department of Finance: Departmental Reviews (8 Nov 2022)

Paschal Donohoe: On 23 November last, I published the Terms of Reference for a broad-ranging review of the retail banking sector in Ireland. The Review is being conducted by officials in my Department with assistance from other Government agencies and Departments. At the time of publishing the Terms of Reference, it was confirmed that the Review team would report to me in November 2022. As part of the...

Written Answers — Department of Finance: Energy Prices (8 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 252, 253, 266, 276 and 280 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 electricity and natural gas costs relating to the period from 1 September 2022 to 28 February 2023. The scheme is designed to be compliant with the EU...

Written Answers — Department of Finance: Insurance Coverage (8 Nov 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland have any influence over the pricing or provision of insurance products, as this is a commercial matter. This position is reinforced by the EU legislative framework for insurance (the Solvency II Directive). Notwithstanding this, Government is acutely aware of the concerns felt by many sectors,...

Written Answers — Department of Finance: Tax Data (8 Nov 2022)

Paschal Donohoe: I am advised by Revenue that the numbers of taxpayers units in each tax band, including those who are exempt from paying income tax, for the years 2005 to 2018 inclusive are published on Revenue’s website at the following link: www.revenue.ie/en/corporate/documents/statistics/income-dist ributors/income-earners-tax.pdf It should be noted that 2018 is the latest year for which this tax...

Written Answers — Department of Finance: Electric Vehicles (8 Nov 2022)

Paschal Donohoe: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. In Finance Act 2019, I legislated for a CO2-based BIK regime for company cars from 1 January 2023. From that date the amount taxable as BIK remains determined by the car’s original market value (OMV) and the annual business kilometres driven, while new CO2 emissions-based...

Written Answers — Department of Finance: Crime Prevention (8 Nov 2022)

Paschal Donohoe: Revenue has primary responsibility for the prevention, detection, interception and seizure of controlled drugs intended to be smuggled or illegally imported into, or exported from, the State. I am advised by Revenue that its drugs interdiction strategy supports the Government’s strategic approach to the misuse of drugs under the National Drugs Strategy 2017–2025. This Government...

Written Answers — Department of Finance: Tax Reliefs (8 Nov 2022)

Paschal Donohoe: Section 481 provides relief in the form of a corporation tax credit related to the cost of production of certain films. The scheme is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and supporting the expression of the Irish culture. Finance Act 2018 introduced a short-term, tapered regional uplift for...

Written Answers — Department of Finance: Legislative Measures (8 Nov 2022)

Paschal Donohoe: Section 126 of the Taxes Consolidation Act 1997 (TCA) deals with the tax treatment of certain benefits payable under the Social Welfare TCA. By way of background, I am advised by Revenue that the Social Welfare Consolidation Act 2005 (SWCA) provides for the payment of the weekly state pension. The payment is made by the Department of Social Protection to an individual who fulfils the...