Results 4,341-4,360 of 32,432 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Energy Prices (22 Sep 2022)

Paschal Donohoe: The Eurogroup does not deal with proposals relating to the functioning of the energy market. That sits with the Council of Ministers that deals with energy, on which we are represented by the Minister for the Environment, Climate and Communications. Our perspective on those kinds of proposals is that we wanted to ensure they did not create any unknown or new difficulties on top of what we...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (22 Sep 2022)

Paschal Donohoe: The Commission on Taxation and Welfare was an independent group that was established in April 2021 as a result of a commitment in the programme for Government. It was asked to consider independently how best the taxation and welfare systems can support economic activity and promote increased employment and prosperity, while ensuring there are sufficient resources available to meet the costs...

Written Answers — Department of Finance: Credit Unions (22 Sep 2022)

Paschal Donohoe: It is important to recognise that credit unions can and do provide mortgages, with over half the sector engaging in mortgage lending at some level. As at June 2022 credit unions had a mortgage book of approximately €301 million, which had grown 22% year-on-year. Since 1 January 2020, credit unions now have a combined capacity to provide up to €1.1 billion in additional SME and...

Written Answers — Department of Finance: Tax Code (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 106 and 151 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 regime....

Written Answers — Department of Finance: Tax Code (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 107, 117 and 158 together. The Commission on Taxation and Welfare was an independent group that was established in April 2021 as a result of a commitment in the Programme for Government. It was asked to independently consider how best the taxation and welfare systems can support economic activity, and promote increased employment and prosperity while...

Written Answers — Department of Finance: Housing Policy (22 Sep 2022)

Paschal Donohoe: Since 2015, we have seen a significant step up in corporation tax receipts, reaching €15.3 billion last year. While my Department will produce more definitive fiscal forecasts next week as part of the publication of Budget 2023, preliminary indications suggest corporation tax receipts of over €20 billion can be expected this year. This would mean corporation tax receipts would...

Written Answers — Department of Finance: Tax Code (22 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 Budget decision. Currently newspapers are subject to a 9% VAT rate. It is acknowledged that Annex III of the VAT Directive which determines what products and services can fall into the reduced rate categories...

Written Answers — Department of Finance: Tax Yield (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 112 and 142 together. I am very much aware of the Irish Fiscal Advisory Council’s views on the need to reduce the over-reliance on corporation tax receipts and the potential level of 'excess' receipts as highlighted in their Fiscal Advisory Report. Indeed, the potential volatility and concentration risks in corporation tax receipts are dangers which my...

Written Answers — Department of Finance: EU Meetings (22 Sep 2022)

Paschal Donohoe: I attended the scheduled Informal Meeting of Economic and Finance Ministers on the 9 and 10 September 2022 in Prague hosted by the Czech Presidency. The Presidency of the Council of the European Union rotates among member states every six months and each presidency hosts one of these informal meetings. Informal meetings are designed to allow participants discuss items of topical or potential...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2022)

Paschal Donohoe: As the Deputy will be aware, in the Finance Act 2021, I enhanced and formalised the tax arrangements for working from home in line with Government policy to facilitate and support remote working. Accordingly, for the tax year 2022, an income tax deduction amounting to 30% of the cost of vouched expenses for electricity, heat and broadband in respect of those days spent working from home can...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2022)

Paschal Donohoe: An Irish Real Estate Fund (IREF) is an investment undertaking where 25% or more of the value of that undertaking is made up of Irish real estate assets. The regime was introduced to address concerns raised regarding the use of collective investment vehicles by non-residents to invest in Irish property. A Real Estate Investment Trust (REIT) is a quoted company, used as a collective investment...

Written Answers — Department of Finance: Tax Yield (22 Sep 2022)

Paschal Donohoe: Since 2015, the Exchequer has benefitted from a remarkable surge in corporation tax receipts. As of end-August, these receipts stood at nearly €12 billion, and my Department now expects that total corporation tax revenue this year will top €20 billion. For comparison, a decade ago tax paid by the corporate sector amounted to approximately €4 billion. Certainly, these...

Written Answers — Department of Finance: Tax Data (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 118 and 120 together. I am advised by Revenue that their estimates are based on taxpayer units, where taxpayers who are married or in a civil partnership who elect to be jointly assessed are counted as one taxpayer unit. These estimates encompass all taxpayer types, such as those in employment, self-employed, or in receipt of taxable income from other...

Written Answers — Department of Finance: Tax Code (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 119 and 131 together. 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 Budget decision.

Written Answers — Department of Finance: Tax Code (22 Sep 2022)

Paschal Donohoe: With regard to the Deputy’s proposal to introduce new personal taxation treatment to encourage stay at home parents to enter part-time employment in strategic areas, I understand the rationale behind the Deputy's question. At the same time, the sectors mentioned by the Deputy are not the only sectors that are currently facing recruitment challenges in what is fortunately a very buoyant...

Written Answers — Department of Finance: Tax Code (22 Sep 2022)

Paschal Donohoe: Recent Budgets have seen major changes to Motor Tax and VRT structures with the aim of incentivising the purchase of more efficient and 'greener' vehicles. Budget 2021 saw the transition to the more accurate Worldwide Harmonized Light Vehicles Test Procedure (WLTP); and restructured the VRT and motor tax regimes with a view to strengthening their environmental rationale in line with...

Written Answers — Department of Finance: Banking Sector (22 Sep 2022)

Paschal Donohoe: I am in regular contact with the Central Bank of Ireland on a range of matters and my officials also meet regularly with the Central Bank to discuss the withdrawal of Ulster Bank and KBC from the Irish market. The decisions of Ulster Bank and KBC to leave the Irish market are regrettable and my focus is on ensuring an orderly withdrawal and minimising the disruption to impacted...

Written Answers — Department of Finance: Banking Sector (22 Sep 2022)

Paschal Donohoe: Over the last decade, we have seen a shift in the way consumers and businesses are paying and banking. While historically Ireland has been a relatively cash-intensive economy, advances in technology and changing customer demands have prompted a rapid increase in the take-up of electronic payments. The Covid-19 pandemic has acted as a potential catalyst for the move towards digital payments...

Written Answers — Department of Finance: Enterprise Support Services (22 Sep 2022)

Paschal Donohoe: The Government is acutely aware of the difficulties Irish businesses are going through arising from substantial increases in energy bills. Since the beginning of the year, this Government has taken action to ease the burden for energy users, including SMEs, as much as possible. Since Budget 2022, measures of approximately €2.4 billion have been introduced to ease the burden of cost of...

Written Answers — Department of Finance: Tax Code (22 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 Budget decision. I am advised by the Revenue Commissioners that traders are not required to separately identify the VAT yield generated from a particular product type or activity on their VAT returns....