Results 4,481-4,500 of 32,547 for speaker:Paschal Donohoe

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

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Insurance Industry (22 Sep 2022)

Paschal Donohoe: Insurance reform is a key priority for this Government as evidenced by the fact that implementation of the Action Plan on Insurance Reformis overseen by the Cabinet Sub-Group on insurance reform. The establishment of the Office to Promote Competition in the Insurance Market, which I chair, is a Programme for Governmentcommitment. Its aims are to help expand the risk appetite of existing...

Written Answers — Department of Finance: Mortgage Interest Rates (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 135 and 149 together. I am aware that the European Central Bank (ECB) has in recent months increased its official interest rates. The ECB is independent in the formulation and implementation of monetary policy. The price lenders charge for their loans is a commercial matter for individual lenders. As Minister for Finance I cannot determine the...

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

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the Cycle to Work scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment up to a maximum of €1,250 (€1,500 in the case of e-bikes), for an employee to use, in whole or in part, to travel to work. Safety equipment includes...

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

Paschal Donohoe: I am advised by Revenue that VAT returns do not require traders to separately identify the VAT yield from the supply of specific products or services. Therefore, the information required for estimating the VAT collected on fuel is not readily available from information provided on tax returns. However, an estimate of the VAT collected on fuel (e.g. Petrol, Diesel, Kerosene, Marked gas oil,...

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

Paschal Donohoe: As the Deputy will appreciate, with under a week to go to the annual Budget, it would not be appropriate for me to comment on any issue which may or may not be the focus of policy changes in the context of that Budget. The Government's strategy in relation to housing is aimed at delivering more homes of all types for people with different housing needs, including those who wish to rent at...

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

Paschal Donohoe: I am advised by Revenue that the excise receipts per year on fuel for the years 2017 to 2021, and the year-to-date August 2022, are as follows: Excise Duty on Fuel (€millions) 2022* 1,602.4 2021 2,578.4 2020 2,308.6 2019 2,594.7 2018 2,594.4...

Written Answers — Department of Finance: Commission on Taxation (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. The terms of reference for the Commission members were broad and comprehensive. The Commission was asked to independently consider how best the taxation and welfare systems can support economic activity, and promote increased...

Written Answers — Department of Finance: Defective Building Materials (22 Sep 2022)

Paschal Donohoe: The Working Group to Examine Defects in Housing was published on 28 July last. It is clear from the report that the process of remediation is likely to take many years to complete and that the estimated potential costs of such remediation are very substantial and that appropriate actions will need to be prioritised. The report sets out a number of funding options of which taxation measures...

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 a Budget decision.

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

Paschal Donohoe: I propose to take Questions Nos. 144, 153 and 154 together. This Government recognises the importance of credit unions. The Programme for Government contains commitments to: - Review the policy framework within which credit unions operate; - Enable and support the credit union movement to grow; - Support credit unions in the expansion of services, to encourage community development; and -...

Written Answers — Department of Finance: Pension Provisions (22 Sep 2022)

Paschal Donohoe: The Interdepartmental Pensions Reform and Taxation Group (IDPRTG) was established to carry out a number of tasks set out in the Roadmap for Pensions Reform 2018 -2023. The Roadmap set out the need to promote long-term pension saving to address income adequacy in retirement, in particular for low income earners. The IDPRTG is chaired by the Department of Finance, and includes representatives...

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

Paschal Donohoe: Since January 2022, Minister of State Fleming, who has responsibility for credit unions, has held or attended 22 meetings and events with various credit union stakeholders including the Representative Bodies, the Credit Union Advisory Committee and individual credit unions. He has also spoken at the AGMs of the Irish League of Credit Unions, the Credit Union Development Association and...

Written Answers — Department of Finance: Vacant Properties (22 Sep 2022)

Paschal Donohoe: Addressing vacancy and dereliction, and maximising the use of existing housing stock, is a priority objective of the Government. Housing for Alloutlines a suite of measures aimed at addressing vacancy in a coordinated, robust manner, and specifically includes an action for the Department of Finance to collect data on vacancy with a view to introducing a vacant property tax. Provisions...

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

Paschal Donohoe: The step-change in energy prices on foot of Russia’s invasion of Ukraine has resulted in a ‘terms-of-trade’ shock, which has seen import bills rise across EU and euro area Member States. In effect, this has resulted in a transfer of domestic incomes from net energy importing countries to net energy exporting countries, leading to a deterioration in the current account...

Written Answers — Department of Finance: 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 independently consider how best the taxation and welfare systems can support economic activity, and promote increased employment and prosperity while ensuring that there are sufficient resources available to meet the...

Written Answers — Department of Finance: Insurance Industry (22 Sep 2022)

Paschal Donohoe: As the Deputy will appreciate, neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive). Nevertheless, this Government understands that insurance costs are...

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

Paschal Donohoe: In its recently published report, the Commission on Taxation and Welfare makes a number of serious and wide-ranging recommendations regarding the future of the tax and welfare systems in Ireland. The report runs to more than 500 pages and contains 116 recommendations. The report poses serious questions that we as a society must carefully consider. The recommendations will foster real...

Written Answers — Department of Finance: Energy Prices (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 157 and 224 together. Consumer price (HICP) inflation has picked up sharply over the course of this year and stood at 9 per cent in August. Almost every advanced economy in the world is in the same position, with inflation rates of 8.3 and 9.1 per cent recorded in the US and euro area respectively in August. The key driver of the elevated level of inflation at...

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

Paschal Donohoe: In 2021, I introduced a higher 10% rate of stamp duty on multiple purchases of residential properties. The rate was introduced by Financial Resolution on 19 May 2021 and is provided for by section 31E of the Stamp Duties Consolidation Act 1999. It applies where a person buys 10 or more residential properties, excluding apartments, in any 12-month period. The background to the introduction of...