Results 461-480 of 34,380 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Data (21 Oct 2025)

Paschal Donohoe: In line with section 13 of Finance Act 2024, I can confirm that the first initial increase to the Standard Fund Threshold (SFT) will take place for the year of assessment 2026, with the SFT increasing from its current level of €2 million to €2.2million. I am informed by Revenue that they are unable provide a costing for changes to the SFT. Information on the numbers and...

Written Answers — Department of Finance: Central Bank of Ireland (21 Oct 2025)

Paschal Donohoe: Under the Central Bank of Ireland’s Consumer Protection Code, all financial services firms which are regulated must have a complaint handling procedure in place. Complaints are dealt with by the firms themselves in the first instance. While the number of complaints received by the Central Bank of Ireland in relation to high cost credit providers is not publicly available, I am...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: This Budgetary measure has an estimated cost of €250 million to the Exchequer in 2026 with an estimated cost of €16 million in 2025. The Deputy will recall that the November/December VAT period falls into the following year. These estimates are tentative and reflect a very prudent approach in relation to assumptions made. As data on actual sales of apartments is received...

Written Answers — Department of Finance: Departmental Data (21 Oct 2025)

Paschal Donohoe: I am advised by Revenue that, in general, the capital expenditure incurred on the purchase of a residential property is not allowable for the purposes of capital allowances. Previously, relief was available where a residential property came within the scope of the schemes collectively known as ‘Section 23 relief’. Section 23 relief was a tax relief that applied to rented...

Written Answers — Department of Finance: Rental Sector (21 Oct 2025)

Paschal Donohoe: I am advised by Revenue that capital allowances in the form of wear and tear allowances are available in respect of capital expenditure incurred on fixtures and fittings (for example, furniture, kitchen appliances, etc) provided by a lessor for the purposes of furnishing rented residential property. These wear and tear allowances are allowed at a rate of 12.5% of the capital expenditure on...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: In Budget 2026 I announced an enhanced corporation tax deduction for certain costs incurred on the construction of apartment blocks, and for the conversion of non-residential buildings into apartment blocks, to improve the viability of such developments. The measure will be legislated for in the Finance Bill and will be available for projects for which a first Commencement Notice is submitted...

Written Answers — Department of Finance: Consumer Protection (21 Oct 2025)

Paschal Donohoe: As the Deputy will be aware, neither I as Minister for Finance nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products. These are commercial decisions taken by insurers in line with EU law, specifically the Solvency II Directive, which sets out the framework for insurance within the Single Market. ‘Whole-of-life’ insurance policy...

Written Answers — Department of Finance: Legislative Process (21 Oct 2025)

Paschal Donohoe: Under general rules for capital allowances and balancing allowances, that is the rules as they apply to assets other than specified intangible assets, such as plant and machinery, capital allowances and balancing allowances are treated as trading expenses in computing a company’s trading profits assessable to corporation tax. This means such capital allowances and balancing allowances...

Written Answers — Department of Finance: Local Authorities (21 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 318 and 320 together. The Living City Initiative (LCI) is a targeted measure which is aimed at very specific areas in urgent need of regeneration, it is provided for under sections 372AAA to 372AAD of the Taxes Consolidation Act 1997. It currently offers income or corporation tax relief for qualifying expenditure incurred in the refurbishment and conversion...

Written Answers — Department of Finance: Departmental Reports (21 Oct 2025)

Paschal Donohoe: I wish to advise the Deputy that the sole report prepared by my Department that falls within the specification of the Deputy’s question is the Anti-Money Laundering Steering Committee (AMLSC) 2023 Annual Report. It was prepared by Department of Finance staff in 2024, for internal use only, at no extra cost.

Written Answers — Department of Finance: Departmental Correspondence (21 Oct 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 aims to encourage additional supply of new houses by supporting demand. HTB provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the...

Written Answers — Department of Finance: Tax Credits (21 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 323, 324 and 325 together. A 30% R&D tax credit is available in respect of expenditure incurred wholly and exclusively, in the carrying on by a company on qualifying R&D activities. The primary policy objective behind the R&D tax credit is to increase business R&D in Ireland, which helps to build an innovation-driven domestic...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: I am advised by Revenue, that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law is required to comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: I am advised by Revenue that the VAT treatment of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. VAT is only levied on goods and services provided in the course of an economic activity by a taxable person. Whether a person is carrying out an economic activity or a business depends on the facts and circumstances of a...

Written Answers — Department of Finance: Budget 2026 (16 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 190, 191 and 192 together. As part of Budget 2026, I announced a number of tax changes that are being introduced to incentivise the provision of new residential units. The VAT rate on the sale of apartments as part of a social policy, has been reduced from 13.5% to 9%. Following a Financial Resolution passed by the Dáil on Budget Day, this...

Written Answers — Department of Finance: Medical Aids and Appliances (16 Oct 2025)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act (“TCA”) 1997 provides for tax relief where an individual proves that they have incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a “practitioner”, will...

Written Answers — Department of Finance: Tax Code (16 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 194 and 197 together. The Programme for Government has committed to support small and medium enterprises, especially those in the retail and hospitality sectors. The VAT reduction announced in Budget 2026 will apply to food and catering services and to hairdressing services. The measure will not apply to entertainment such as admissions to cinemas,...

Written Answers — Department of Finance: Tax Rebates (16 Oct 2025)

Paschal Donohoe: Excise duty on alcohol is governed by EU law, with which Irish excise law is obliged to conform. The “Alcohol Structures Directive” (Council Directive 92/83/EEC) lays down a harmonised approach to excise duties on alcohol in the EU. It defines alcoholic beverages and sets out the basis on which excise duties on such products are to be established by Member States as well as the...

Written Answers — Department of Finance: Tax Code (16 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 196 and 204 together. The Deputies' questions relate to the deemed disposal rules. These rules apply to investments in Irish domiciled investment funds and life assurance products, as well as equivalent offshore funds and certain foreign life assurance products. For Irish domiciled investment funds and life assurance products, the gross roll up regime...

Written Answers — Department of Finance: Revenue Commissioners (16 Oct 2025)

Paschal Donohoe: I am advised by Revenue that the following table outlines payments made in respect of maintaining the vessel alongside in the Port of Cork since its detention in September 2023 up to end September 2025. Payments in respect of maintenance and management of MV Matthew from Sept 2023 to end Sept 2025 € Berthing: Includes all costs associated with...