Results 401-420 of 33,829 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Policies (29 Jul 2025)

Paschal Donohoe: I wish to advise the Deputy that my department’s IT systems and related and associated services are provided by the Office of the Government Chief Information Officer, a division of the Department of Public Expenditure Infrastructure and Digitalisation. In that regard I refer the Deputy to the response to this question from my colleague, the Minister for Public Expenditure,...

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: The GNI* figures used to underpin the public capital share ratios over the 2026-2030 period in the National Development Plan are supplied below in tabular form. 2024 2025 2026 2027 2028 2029 2030 nominal GNI* (€ billions) 321.1 338.4 356.2 374.3 392.8 ...

Written Answers — Department of Finance: Tax Credits (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 716 and 751 together. I am advised by Revenue that the most recent year for which an annual cost to the exchequer of the Rent Tax Credit (RTC) is available is 2022. The estimated cost is €156.4m as published in Revenue's Cost of Tax Expenditure' publication on the Revenue website at: Data for 2023 will be available in this publication in the coming...

Written Answers — Department of Finance: Tax Reliefs (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 717 and 724 together. I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide a costing for the measures outlined above using information provided on tax returns alone. However, using other sources available to...

Written Answers — Department of Finance: Fossil Fuel (29 Jul 2025)

Paschal Donohoe: The Fossil Fuel Divestment Act 2018 (the “Act”) has been in place since December 2018. Pursuant to the terms of the Act, the NTMA must, inter alia, endeavour to ensure that the assets of the ISIF are not directly invested in any undertaking that generates 20% or more of its turnover from the exploration for or extraction or refinement of a fossil fuel (coal, oil, natural gas,...

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: The forecasts produced by my Department at the time of Budget 2025 project the gross general government debt to GNI* ratio to fall below 60% of GNI* in 2027. CSO outturn data estimates that the net debt at the end of 2024 was 157.2 billion euro, which is consistent with a net debt to GNI* ratio of 49 per cent. Forecasts at the time of Budget 2025 projected net debt to be 46.7% of GNI* at the...

Written Answers — Department of Finance: National Treasury Management Agency (29 Jul 2025)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me that the Exchequer had cash and liquid asset balances of €34.3bn at end-2024 and €33.3bn at end-June 2025.

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me that the below table lists the benchmark bond redemptions due on Ireland’s National Debt for the remainder of 2025 to 2030. Bond Coupon Rate Maturity Date Outstanding €bn 1.0% Treasury Bond 2026 1.0% 15/05/2026 11.6 0.2%...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 726 and 727 together. Ireland, alongside more than 140 other jurisdictions, made a political agreement to sign up to the two-pillar international tax agreement, with the objective of addressing the tax challenges arising from digitalisation of the economy at the OECD Inclusive Framework on BEPS. Pillar Two of this agreement includes a commitment to...

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide a costing for the measures outlined above using information provided on tax returns alone. However, using other sources available to Revenue, a tentative estimate of the cost to the Exchequer is...

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 729 and 730 together. The ‘Programme for Government 2025: Securing Ireland’s Future’, contains specific undertakings with regard to personal taxation, it commits to “implementing progressive changes in taxation if the economy remains strong, including indexing credits and bands to prevent an increase in the real burden of Income...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable to provide information on the total number of individual taxpayer units that would be impacted by a reduction in the SFT...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that a tentative estimate, for 2025, of the number of taxpayer units impacted by a reduction of the total earnings limit from €115,000 to €60,000 is of the order of 43,000. In the case of couples who have elected to be jointly assessed they are counted as one taxpayer unit. In all other cases a taxpayer unit refers to an individual.

Written Answers — Department of Finance: Compliance Targets (29 Jul 2025)

Paschal Donohoe: I am advised that the Deputy has confirmed his question relates to tax compliance as set out in the tax measures document on budget day. The table below sets out the yield targets and achievements since 2020. Following a pandemic-related pause, compliance measures were again included in Budget 2023. 2020 Dividend Withholding Tax (DWT) Compliance ...

Written Answers — Department of Finance: Universal Social Charge (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 734, 735, 736 and 737 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 €m Full Year €m Removing USC on the first €30,000 earned 945 1,085...

Written Answers — Department of Finance: Departmental Budgets (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 738, 739 and 740 together. The Deputy may wish to note that a Post-Budget 2025 Ready Reckoner is available on the Revenue Statistics webpage at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf The Ready Reckoner shows a wide range of detailed information, including the estimated cost or yield to the Exchequer of widening the...

Written Answers — Department of Finance: Tax Credits (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 741 and 742 together. The estimated cost of increasing the main tax credits can be found in the Revenue Ready Reckoner (Post Budget 2025 – page 5), available on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf These figures are based on 2025 estimates from the Revenue tax forecasting model using...

Written Answers — Department of Finance: Tax Credits (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that it is not in a position to provide the information requested in relation to 2025 or 2026, as their modelling tool, Tax Modeller, does not have the facility to do so. In the main, eligibility to tax credits is not dependent on the tax rate(s) that are applied to a taxpayer’s taxable income and Revenue has not developed a costing model that would operate in...

Written Answers — Department of Finance: Local Property Tax (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 744 to 747, inclusive, together. I am advised by Revenue that the cost of abolishing Local Property Tax (LPT) with the gradual exclusion of local authority/AHB owned properties, multi property owners, and properties valued above €1,050,000 is provided in the table below. Theses costings are based on the year 2025. The principal private...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that, based on stamp duty returns for 2024, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers is in the order of €60 million. This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons identifying themselves as first-time buyers,...