Results 4,281-4,300 of 32,432 for speaker:Paschal Donohoe

Financial Resolutions 2022 - Budget Statement 2023 (27 Sep 2022)

Paschal Donohoe: -----as per the trajectory set out in the Finance Act 2020. This will mean that there will be an increase of just over 2 cent, VAT inclusive, per litre of petrol and diesel. However, I also recognise the sharp cost-of-living challenges currently faced by society. The Government is therefore proposing to help offset this carbon tax increase with a reduction to zero of the National Oil...

Financial Resolutions 2022 - Budget Statement 2023 (27 Sep 2022)

Paschal Donohoe: -----farming communities face as they deal with rising input costs while moving towards a sustainable future. A number of other important agricultural reliefs are due to expire at the end of 2022. These reliefs provide important supports to our young farmers and the farming sector generally. I will extend five agricultural tax reliefs expiring this year: the young trained farmer and farm...

Financial Resolutions 2022 - Budget Statement 2023 (27 Sep 2022)

Paschal Donohoe: I welcome the opportunity to present budget 2023 to this House. INTRODUCTION When we gathered in this Chamber for budget 2022, we were emerging from the very worst of the Covid-19 pandemic. We now face a further economic challenge. If you are an older person, you are having to spend more of your pension on heating your home. If you are looking after your family, you are now facing...

Written Answers — Department of Finance: Tax Reliefs (27 Sep 2022)

Paschal Donohoe: Section 114 of the Taxes Consolidation Act 1997 (TCA) provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. I am advised by Revenue that professional membership fees are only deductible under section 114 TCA where they are incurred wholly, exclusively and necessarily by...

Written Answers — Department of Finance: Banking Sector (27 Sep 2022)

Paschal Donohoe: Credit and Financial Institutions are obliged to identify and verify their customer’s identity on the basis of documents or information which they have reasonable grounds to believe can be relied upon to confirm the identify of the customer. This may include documents from a Government source, such as a passport or driving licence and institutions often use such documents to verify a...

Written Answers — Department of Finance: Tax Yield (27 Sep 2022)

Paschal Donohoe: I am advised by Revenue that Carbon Tax receipts for each of the years since its introduction in 2010 up to 2021 are published on the Revenue website at the following link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/excise/receipts-volume-and-price/excise-receipts-commod ity.aspx. I am further advised that receipts raised from Carbon Tax specific to glasshouse...

Written Answers — Department of Finance: Tax Yield (27 Sep 2022)

Paschal Donohoe: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods or services in their periodic VAT returns. Therefore, it is not possible to provide an estimate of the amount of VAT raised from non-oral animal medicines and vaccines.

Written Answers — Department of Finance: Tax Code (27 Sep 2022)

Paschal Donohoe: Section 114 of the Taxes Consolidation Act 1997 (TCA) provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. The flat rate expense (FRE) regime is operated by Revenue on an administrative basis where both a specific commonality of expenditure exists across an employment...

Written Answers — Department of Finance: Tax Code (27 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 114, 119 and 124 together. At the outset, the Deputy should note that recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes I brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the...

Written Answers — Department of Finance: Tax Code (27 Sep 2022)

Paschal Donohoe: Finance Act 2012 introduced section 664A of the Taxes Consolidation Act 1997 which provides that a farmer may take an income tax or corporation tax deduction for farm diesel (including any carbon tax charged in respect of diesel) and then a further deduction for farm diesel which is equal to the difference between the carbon tax charged and the carbon tax that would have been charged had it...

Written Answers — Department of Finance: Tax Code (27 Sep 2022)

Paschal Donohoe: In line with the Programme for Government commitment on carbon tax policy, Finance Act 2020 legislates for annual increases in the rate of carbon tax out to 2030.Finance Act 2020 sets out the specific rate impacts and date of impact for each affected fuel and is available online : Finance Act 2020 , Section 27 (irishstatutebook.ie). As the Deputy will be aware, it is a long-standing practice...

Written Answers — Department of Finance: Budget 2023 (27 Sep 2022)

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 a Budget decision. The correspondence submitted by the Deputy has been reviewed as part of the pre-budget process.

Written Answers — Department of Finance: Pension Levy (27 Sep 2022)

Paschal Donohoe: Currently, private pension holders are not required to pay a pension levy. An annual levy was charged on pension schemes from 2011 to 2015 in accordance with section 125B of the Stamp Duties Consolidation Act 1999. The levy was introduced in the wake of the financial crash, at a time when the economy was in very serious difficulties. It was charged on the market value of assets in...

Written Answers — Department of Finance: Enterprise Support Services (27 Sep 2022)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) was a key component of the Government’s response to the Covid-19 pandemic. It was an emergency measure to support employment and maintain the link between employers and employees. Notwithstanding the current challenges facing some businesses associated with high energy costs, the present circumstances are different to those in place when the...

Written Answers — Department of Finance: Energy Conservation (27 Sep 2022)

Paschal Donohoe: The Deputy may be aware that the tax code already provides an incentive to encourage businesses to invest in energy efficient equipment. The Accelerated Capital Allowance (ACA) scheme for Energy Efficient Equipment (EEE) is provided for in Section 285A of the Taxes Consolidation Act 1997. The ACA scheme for EEE allows taxpayers to deduct the full cost of expenditure on eligible equipment from...

Written Answers — Department of Finance: Tax Code (27 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 122 and 126 together. The query is referring to the implementation of the new rules applying to the calculation of benefit-in-kind in respect of employer provided vehicles to employees, for the tax year 2023 and subsequent years. Broadly, new rates of benefit-in-kind will apply to the provision of a company car, from 1 January 2023, which among...

Written Answers — Department of Finance: Legislative Measures (27 Sep 2022)

Paschal Donohoe: The National Treasury Management Agency (NTMA) who manages State Savings have informed me that, under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended, designated bodies, such as An Post and the Prize Bond Company, are required by law to comply with anti-money laundering requirements and verify all customers’ identities. State Savings products are...

Written Answers — Department of Finance: Public Sector Staff (27 Sep 2022)

Paschal Donohoe: The Office of the Financial Services and Pensions Ombudsman (FSPO) has advised me that as of 19 September 2022, the FSPO has an approved staff complement of 90.2, with 2.6 vacancies. This number of vacancies takes account of contracts due to commence, including that of the Financial Services and Pensions Ombudsman, commencing on 1 December 2022. The current vacancies are at Higher Executive...

Written Answers — Department of Finance: Tax Code (27 Sep 2022)

Paschal Donohoe: At the outset, the Deputy should note that recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes I brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being...

Written Answers — Department of Finance: Housing Schemes (27 Sep 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 of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. I am advised by Revenue that annual statistics on the Help to Buy...