Results 461-480 of 32,429 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Revenue Commissioners (27 Feb 2025)

Paschal Donohoe: I am advised by Revenue that while it previously provided a traditional over-the-counter service in a number of its offices, the changing demands of taxpayers and the need to provide an efficient and cost-effective service has resulted in service channels evolving. I can confirm that the Sligo Office has been closed for a number of years and Revenue do not currently have plans to reopen it. ...

Written Answers — Department of Finance: Departmental Schemes (27 Feb 2025)

Paschal Donohoe: On 28 June 2023, the European Commission put forward a proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the establishment of the digital euro. Work on the draft regulation commenced under the Spanish Council Presidency and is following the normal legislative process through the Council Working Group and the European Parliament. The legislation is still at the first...

Written Answers — Department of Finance: Revenue Commissioners (27 Feb 2025)

Paschal Donohoe: I am advised by Revenue that where a change is made to a taxpayer’s record which may result in a significant tax deduction, the taxpayer will be placed on a Week One/Month One basis. This ensures that any liability arising on an increase in income will only be collected for the current pay period without reference to the income earned in the year-to-date. This practice mitigates any...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: In the first instance, the interaction between the Widow's, Widower's or Surviving Civil Partner's pension and Illness Benefit is a matter for the Minister for Social Protection rather than the Minister for Finance. It is a general principle of taxation that all income, from whatever source, is income for tax purposes and this includes amounts paid to an individual by the Department of...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: Price differentials between fuels from different jurisdictions entering the State, arise for several reasons including differential tax rates. Other factors that affect coal prices include global market dynamics, costs of labour, exchange rates, as well as wholesale and retail pricing policy practices which may include additional charges to cover transport and distribution costs. It is...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within the categories of goods and services listed in Annex III, in respect of which Member States may apply a lower rate. On this...

Written Answers — Department of Finance: Business Regulation (26 Feb 2025)

Paschal Donohoe: I am informed by Revenue that tax compliance programmes are kept under constant review to ensure that they are focused on the areas of greatest risk, including risks from the shadow economy. Challenging shadow economy activity and actively restricting opportunities for deliberate tax and duty evasion continues to be an organisational priority for Revenue. Since 2021, a sectoral shadow economy...

Written Answers — Department of Finance: Insurance Industry (26 Feb 2025)

Paschal Donohoe: At the outset, it is important to note that while as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation, my Department does not collect the type of information being sought by the Deputy. The day to day supervision of insurance undertakings is a matter for the Central Bank of Ireland. The insurance industry itself is broadly...

Written Answers — Department of Finance: Insurance Industry (26 Feb 2025)

Paschal Donohoe: I would like to thank the Deputy for raising this important matter and would like to assure you that the Government is committed to ensuring that the "Right to be Forgotten" is provided for in an appropriate manner in future legislation. Insurance Ireland published the Code of Practice for Underwriting Mortgage Protection Insurance for Cancer Survivors in December 2023. The purpose of the...

Written Answers — Department of Finance: Tax Code (26 Feb 2025)

Paschal Donohoe: Revenue’s clear policy objective is to engage positively with insolvent companies who enter the examinership process, where possible. Revenue is committed to being a constructive participant in such cases. Revenue is a notice party to all applications for examinerships. The Courts rely on Revenue’s opinion, not just to protect tax liabilities but also to protect other...

Written Answers — Department of Finance: Banking Sector (26 Feb 2025)

Paschal Donohoe: In general any entity involved in the business of providing credit to consumers has to be authorised as a credit institution, a credit union or a retail credit firm and any non-bank or non-retail credit firm who subsequently services or acquires the legal title to the rights of the creditor under such an credit agreement has to be authorised as a credit servicing firm. In its...

Written Answers — Department of Finance: Housing Schemes (26 Feb 2025)

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. It also has as a key aim of the encouragement of additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to...

Written Answers — Department of Finance: Tax Avoidance (26 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 99 and 100 together. I am advised by Revenue that “relevant benefits” as defined in section 770 Taxes Consolidation Act 1997 (TCA) means “any pension, lump sum, gratuity or other like benefit – (a) given or to be given on retirement or on death or in anticipation of retirement, or, in connection with past service, after...

Written Answers — Department of Finance: Tax Avoidance (26 Feb 2025)

Paschal Donohoe: I am informed by Revenue that there is a continuous focus on compliance across pension schemes, identifying and confronting non-compliant behaviour. I am further advised by Revenue that there is an ongoing compliance programme examining the taxation of schemes transferred overseas. Approximately 20 cases have been identified for intervention as part of this programme.In addition,...

Written Answers — Department of Finance: Tax Avoidance (26 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 102 and 103 together. I am advised by Revenue that the number of declarations received by Revenue in relation to the transfer of a pension arrangement to EU Member States since 2016 is as follows: Country Transfers Austria <10 Belgium <10 Cyprus ...

Written Answers — Department of Finance: Tax Avoidance (26 Feb 2025)

Paschal Donohoe: I am advised by Revenue that, as set out in the response to Parliamentary Questions No. 46 to 54 of 6 February 2025, settlements in such cases as those referred to by the Deputy can consist of yield relating to avoidance transactions and non-avoidance transactions. Therefore, it has not been possible in the time available to finalise all of this data. I am advised by Revenue that the...

Written Answers — Department of Finance: Tax Code (25 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 297, 305 and 308 together. I am informed by Revenue that there has been no change in the legislation, or Revenue’s interpretation of the legislation, relating to the benefit-in-kind (BIK) charge which is applicable on employer-provided vehicles, or the exemption relating to the pooling of cars or vans. Sections 121 and 121A of the Taxes...

Written Answers — Department of Finance: Tax Code (25 Feb 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. While the thresholds were reduced during...

Written Answers — Department of Finance: Tax Code (25 Feb 2025)

Paschal Donohoe: The taxation of e-cigarettes and novel products, including e-liquids, is expected to be addressed at EU level through a revision of the Tobacco Tax Directive (2011/64/EU). However, the Commission’s proposals for revision of the Directive have been postponed on a number of occasions in the last few years, and in the meantime, a significant number of Member States have moved to introduce...