Results 461-480 of 33,883 for speaker:Paschal Donohoe

Written Answers — Department of Finance: National Treasury Management Agency (29 Jul 2025)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me that the Exchequer had cash and liquid asset balances of €34.3bn at end-2024 and €33.3bn at end-June 2025.

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me that the below table lists the benchmark bond redemptions due on Ireland’s National Debt for the remainder of 2025 to 2030. Bond Coupon Rate Maturity Date Outstanding €bn 1.0% Treasury Bond 2026 1.0% 15/05/2026 11.6 0.2%...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 726 and 727 together. Ireland, alongside more than 140 other jurisdictions, made a political agreement to sign up to the two-pillar international tax agreement, with the objective of addressing the tax challenges arising from digitalisation of the economy at the OECD Inclusive Framework on BEPS. Pillar Two of this agreement includes a commitment to...

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide a costing for the measures outlined above using information provided on tax returns alone. However, using other sources available to Revenue, a tentative estimate of the cost to the Exchequer is...

Written Answers — Department of Finance: Departmental Data (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 729 and 730 together. The ‘Programme for Government 2025: Securing Ireland’s Future’, contains specific undertakings with regard to personal taxation, it commits to “implementing progressive changes in taxation if the economy remains strong, including indexing credits and bands to prevent an increase in the real burden of Income...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable to provide information on the total number of individual taxpayer units that would be impacted by a reduction in the SFT...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that a tentative estimate, for 2025, of the number of taxpayer units impacted by a reduction of the total earnings limit from €115,000 to €60,000 is of the order of 43,000. In the case of couples who have elected to be jointly assessed they are counted as one taxpayer unit. In all other cases a taxpayer unit refers to an individual.

Written Answers — Department of Finance: Compliance Targets (29 Jul 2025)

Paschal Donohoe: I am advised that the Deputy has confirmed his question relates to tax compliance as set out in the tax measures document on budget day. The table below sets out the yield targets and achievements since 2020. Following a pandemic-related pause, compliance measures were again included in Budget 2023. 2020 Dividend Withholding Tax (DWT) Compliance ...

Written Answers — Department of Finance: Universal Social Charge (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 734, 735, 736 and 737 together. I am advised by Revenue that the table below sets out the estimated first and full year costs to the Exchequer, in 2025, of each proposal outlined by the Deputy. Proposal First Year €m Full Year €m Removing USC on the first €30,000 earned 945 1,085...

Written Answers — Department of Finance: Departmental Budgets (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 738, 739 and 740 together. The Deputy may wish to note that a Post-Budget 2025 Ready Reckoner is available on the Revenue Statistics webpage at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf The Ready Reckoner shows a wide range of detailed information, including the estimated cost or yield to the Exchequer of widening the...

Written Answers — Department of Finance: Tax Credits (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 741 and 742 together. The estimated cost of increasing the main tax credits can be found in the Revenue Ready Reckoner (Post Budget 2025 – page 5), available on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf These figures are based on 2025 estimates from the Revenue tax forecasting model using...

Written Answers — Department of Finance: Tax Credits (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that it is not in a position to provide the information requested in relation to 2025 or 2026, as their modelling tool, Tax Modeller, does not have the facility to do so. In the main, eligibility to tax credits is not dependent on the tax rate(s) that are applied to a taxpayer’s taxable income and Revenue has not developed a costing model that would operate in...

Written Answers — Department of Finance: Local Property Tax (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 744 to 747, inclusive, together. I am advised by Revenue that the cost of abolishing Local Property Tax (LPT) with the gradual exclusion of local authority/AHB owned properties, multi property owners, and properties valued above €1,050,000 is provided in the table below. Theses costings are based on the year 2025. The principal private...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that, based on stamp duty returns for 2024, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers is in the order of €60 million. This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons identifying themselves as first-time buyers,...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I am advised by Revenue that, based on stamp duty returns for 2024, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers of homes of less than €450,000 is in the order of €40.6 million. This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: As previously outlined in PQ 31763/25, I am advised by Revenue, that based on the Defective Concrete Products Levy (DCPL) collections for 2024, the latest year for which figures are available, the potential cost of abolishing this levy would be in the region of €24 million per annum. This estimated cost does not account for behavioural changes in 2026 or beyond. Revenue has confirmed...

Written Answers — Department of Finance: Tax Credits (29 Jul 2025)

Paschal Donohoe: The Finance Act 2022, Finance (No.2) Act 2023 and Finance Act 2024 introduced changes to the R&D tax credit regime which were for the benefit of all claimant companies. However, certain measures introduced, whilst available to all companies, were of particular benefit to companies engaged in relatively smaller R&D projects. Finance Act 2022 changed the manner in which the...

Written Answers — Department of Finance: Tax Reliefs (29 Jul 2025)

Paschal Donohoe: Tax relief for trade union subscriptions was previously provided for under section 472C of the Taxes Consolidation Act 1997. The relief was introduced in 2001 and abolished from 2011 onward. A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by the Department of Finance in 2016 and included in the report on tax...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: I propose to take Questions Nos. 759 and 760 together. I am advised by Revenue that it is not possible to provide an estimate based on the value of each property as the Local Property Tax (LPT) return records a valuation band as opposed to an exact value for properties in bands 1 to 19. An estimate of the revenue raised based on the midpoint of each band and the returned valuation...

Written Answers — Department of Finance: Tax Data (29 Jul 2025)

Paschal Donohoe: It is assumed that the Deputy is referring to corporation tax relief for losses utilised. I am advised by Revenue that the estimated amount that would have been raised in 2023, the latest year data available, had such a restriction been in place in respect of all companies, would have been in the region of €1,120m. I am further advised that Revenue cannot provide estimates for...