Results 5,061-5,080 of 32,432 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Interest Rates (14 Jun 2022)

Paschal Donohoe: The Department of Finance manages all the transactions on the Central Fund, which is the ‘Government’s bank account’, ensuring the smooth operation of Government business. In 2021, the value of transactions processed by the Department was in excess of €100 billion. Negative interest charges, when applicable, are therefore paid by the Department despite these being...

Written Answers — Department of Finance: Interest Rates (14 Jun 2022)

Paschal Donohoe: I am advised by a number of bodies under the aegis of my Department that they have been charged negative interest by financial institutions. Details provided by those bodies can be found below: Body under the Aegis of the Department of Finance Year Negative Interest Charges incurred Central Bank of Ireland 2021 €759,910 ...

Written Answers — Department of Finance: Departmental Staff (14 Jun 2022)

Paschal Donohoe: I wish to inform the Deputy that there are currently no former Secretary Generals seconded from the Department of Finance.

Written Answers — Department of Finance: Tax Code (14 Jun 2022)

Paschal Donohoe: I am informed by Revenue that Vehicle Registration Tax (VRT) does not depend on the type of fuel that a vehicle uses, but rather on the category into which the vehicle falls under the VRT legislation. Thus, there is no specific VRT treatment for vehicles that run on hydrotreated vegetable oil. The VRT on a Category A vehicle (e.g. passenger car) is generally based on the vehicle’s...

Written Answers — Department of Finance: Tax Reliefs (14 Jun 2022)

Paschal Donohoe: As I indicated in March last in my response to a similar question from Deputy Holly Cairns (No. 192 of 24 March), I acknowledge the cost pressures on parents with young children. In recognition of these pressures, a number of support measures are already in place to ease the burden on working parents. These include various tax-exemptedfinancial supports provided by the Minister for Children,...

Written Answers — Department of Finance: Tax Reliefs (14 Jun 2022)

Paschal Donohoe: As outlined in the 'Housing for All' strategy, the Government’s primary response to mitigating residential price inflation is to increase supply. The strategy outlines the plan to increase affordability and housing supply by committed to, amongst other things, an average of 2,000 new ‘cost rental’ homes every year, with targets of rents being at least 25 per cent below...

Written Answers — Department of Finance: Tax Exemptions (14 Jun 2022)

Paschal Donohoe: Where an employer provides an employee or director with a small benefit, that is, a voucher or a benefit (a tangible asset other than cash) with a value not exceeding €500, that benefit will be exempt from Income Tax, PRSI and USC, provided all of the conditions, contained within section 112B of the Taxes Consolidation Act 1997 are satisfied. The conditions are as follows - - the...

Written Answers — Department of Finance: National Asset Management Agency (14 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 381 to 383, inclusive, together. As the Deputy will be aware, NAMA does not own properties, it owns loans. The properties securing NAMA’s loans are owned by debtors. These debtors, or receivers in the case of enforcement, manage and control the properties. If a State body expresses interest in a property secured to NAMA, NAMA will facilitate...

Written Answers — Department of Finance: National Asset Management Agency (14 Jun 2022)

Paschal Donohoe: I refer the Deputy to section 172 of the NAMA Act 2009, which is a legal provision designed to prevent defaulting debtors from buying back their secured assets from NAMA. NAMA has enhanced this legislation with Asset Disposal and Loan Sale policies that are more wide-reaching than section 172. They encompass disposals of secured assets by debtors or receivers as well as loan assets being sold...

Written Answers — Department of Finance: Tax Code (14 Jun 2022)

Paschal Donohoe: As the Deputy may be aware, agricultural relief allows the value of agricultural assets gifted or inherited (including farmland, buildings, stock) to be reduced by 90% of its value for the calculation of a Capital Acquisition Tax (CAT) liability. This is a valuable relief from CAT and a fundamental objective of this relief is that it is availed of by genuine, and active farmers, and that it...

Written Answers — Department of Finance: Tax Code (14 Jun 2022)

Paschal Donohoe: As the Deputy is aware, Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use purposes and that is serviced. The RZLT is an annual tax, calculated at a rate of 3% of the market value of the land. Each local authority...

Written Answers — Department of Finance: Financial Services (14 Jun 2022)

Paschal Donohoe: ATM refers to Automated Teller Machines which allow the withdrawal of bank notes form customer accounts. It should be noted that the Minister for Finance has no direct function in the operations of banks operating in the State. This includes banks that the State is a shareholder, the Minister must ensure that these banks are run on a commercial, cost effective and independent basis. Actions...

Written Answers — Department of Finance: Housing Schemes (14 Jun 2022)

Paschal Donohoe: Help to Buy (HTB) has a two main stages: the application stage and the claim stage. Compliant taxpayers who complete a HTB application are provided with an application number and a summary of the maximum relief available to them under the incentive. A mortgage provider, broker, qualifying contractor or solicitor can use this summary to verify the relief available to the applicant, for the...

Written Answers — Department of Finance: Ukraine War (14 Jun 2022)

Paschal Donohoe: I wish to advise the Deputy that my Department does not recruit directly, recruitment into my Department is conducted through the Public Appointments Service (PAS). PAS is the central body with responsibility for recruitment into the Civil Service and wider Public Service, and as part of the recruitment process undertakes the responsibility to ensure qualifications meet the education...

Written Answers — Department of Finance: Ukraine War (14 Jun 2022)

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 is the section of the corporate tax code which creates a tax neutral regime for bona-fide securitisation and structured finance purposes. Ireland is not unique in having a specific regime for securitisations. The importance of securitisation has been recognised by the European Commission through their work on the Capital Markets Union. This is a...

Written Answers — Department of Finance: Ukraine War (14 Jun 2022)

Paschal Donohoe: Reviews undertaken by the Central Bank of Ireland have identified just under 2% of the 3,000 Special Purpose Entities (SPEs) in Ireland as having links to Russia. It is currently estimated that about one in three of those (that is, 17 SPEs, being 0.5% of the total SPE population) is directly linked to individuals in scope of the sanctions regime. A Central Bank statistical release on the...

Written Answers — Department of Finance: Ukraine War (14 Jun 2022)

Paschal Donohoe: I am informed by the Central Bank that Section 110 firms connected to Russia are estimated to have raised the following funds (sum of all issuances over a year): Year Funds Issued in € Billions 2017 11.10 2018 2.62 2019 6.28 2020 4.27 2021 ...

Written Answers — Department of Finance: Ukraine War (14 Jun 2022)

Paschal Donohoe: Section 110 of the Taxes Consolidation Act 1997 creates a tax neutral regime for bona-fide securitisation and structured finance purposes. Ireland is not unique in having a specific regime for securitisations. Indeed the importance of securitisation has been recognised by the European Commission through their work on the Capital Markets Union. While section 110 companies are not subject to...

Written Answers — Department of Finance: Tax Data (14 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 395 and 394 together. I am advised by Revenue that the information sought by the Deputy is available on its website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/income-distributions/pension-contributions.aspx. For the Deputy's ease of reference the two tables requested are set out below. Range of Gross Income ...

Written Answers — Department of Finance: Vehicle Registration Tax (14 Jun 2022)

Paschal Donohoe: Electric vehicles (EVs) play a central role in Climate Action Plan 2021 with a target of 175,000 on the road by 2025 and 945,000 EVs on the road by 2030. There are currently over 58,000 EVs registered on Irish roads (end April 2022). By 2030, the abatement impact for an additional 845,000 passenger EVs is estimated to be c. 2.5 Mt C02eq. This figure is informed by the Department of...