Results 5,081-5,100 of 32,432 for speaker:Paschal Donohoe

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

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within categories of goods and services specified in the Directive, in respect of which Member States may apply...

Written Answers — Department of Finance: Insurance Coverage (14 Jun 2022)

Paschal Donohoe: At the outset it is important to note that 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) which expressly prohibits Member States from doing so....

Written Answers — Department of Finance: Revenue Commissioners (14 Jun 2022)

Paschal Donohoe: I am advised that Revenue and the Department of Social Protection (DSP) enjoy very close working relations and co-operate on a wide range of strategic and operational matters of mutual interest. These arrangements are overseen by a long-established, high-level group of senior officials from both organisations that meets on a quarterly basis. Section 851A of the Taxes Consolidation Act 1997...

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

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 must 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 the VAT Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: Insurance Coverage (14 Jun 2022)

Paschal Donohoe: Firstly it is important to note that 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) which expressly prohibits Member States from doing so. My...

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

Paschal Donohoe: Based on Revenue’s latest Ready Reckoner (Post-Budget 2022) the estimated costs on a first and full year basis of the Deputy’s proposed request are set out in the tables below. In addition, the tables also display the nominal increase as a result of the proposed adjustments. Table 1 – 1% increase in the standard rate tax bands and the main income tax credits ...

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

Paschal Donohoe: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. This is a well-established and broadly accepted principle. Section 19 of the Taxes Consolidation Act (TCA) 1997, sets out that tax under Schedule E shall be charged in respect of every public office or employment of profit. Section 112 of the TCA 1997 brings into charge...

Written Answers — Department of Finance: Official Engagements (14 Jun 2022)

Paschal Donohoe: I have met with United States Treasury Secretary Janet Yellen on a number of occasions over the last few months, most recently in Washington, DC in the first week of June, but also at the meeting of G7 Finance Ministers and Central Bank Governors in Bonn in mid-May and by VC at the end of March. I was also very pleased to welcome Secretary Yellen to Dublin last November. Each engagement...

Written Answers — Department of Finance: Insurance Industry (14 Jun 2022)

Paschal Donohoe: At the outset it is important to note that 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) which expressly prohibits Member States from doing so....

Written Answers — Department of Finance: Insurance Industry (14 Jun 2022)

Paschal Donohoe: At the outset, it is important to note that 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). Every person intending to use a vehicle on a public...

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

Paschal Donohoe: It would appear from the Deputy’s Question that the individual concerned is an Irish national who has retired in the State, having worked at sea in international waters for a number of years. During this period, the individual was resident in the Netherlands and worked with several different shipping companies which were registered in different countries. While it is not possible to...

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

Paschal Donohoe: As the Deputy is aware, the OECD/G20 Inclusive Framework on BEPS met last October to agree a two-pillar solution to address tax challenges arising from the digitalisation of the economy. Pillar One will see a reallocation of 25% of residual profits to the jurisdiction of the consumer. The scope is confined to multination groups with turnover in excess of €20 billion annually....

Written Answers — Department of Finance: Ministerial Responsibilities (14 Jun 2022)

Paschal Donohoe: As President of Eurogroup since September 2020, I have chaired 23 Eurogroup meetings, which have been conducted in both virtual format due to Covid, and more recently in physical format. In addition, I have conducted numerous bilateral meetings with Eurogroup Ministers, EU Commissioners, and the President of the European Central Bank to ensure the achievement of Eurogroup objectives. The...

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

Paschal Donohoe: I am advised by Revenue that the receipts for 2021 in respect of Betting Duty are €89.1 million.

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

Paschal Donohoe: Officials in my Department are currently reviewing the options now available to Ireland in setting VAT rates. This will include consideration of the new options available to Member States as a result of the recently updated EU VAT rules when setting VAT rates as well as the new limitations introduced on how reduced rates may be applied. Decisions about tax changes are generally taken in...

Written Answers — Department of Finance: Vacant Properties (14 Jun 2022)

Paschal Donohoe: The Government’s strategy ‘Housing For All’ includes an action for my Department to collect data on vacancy with a view to introducing a Vacant Property Tax. The timeframe for delivery on this commitment is the second quarter of 2022. The Finance (Local Property Tax) (Amendment) Act 2021 enabled Revenue to collect certain information in relation to the occupancy status of...

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

Paschal Donohoe: I am advised by Revenue that in 2019, the latest year for which fully analysed data are currently available, there were 90,150 taxpayer units declaring rental income from a residential property where the total number of residential properties declared was one. The income declared amounted to €1.1 billion. As indicated to the Deputy in my reply to his question no. 208 dated 2 June...

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

Paschal Donohoe: In my Budget 2022 speech, I announced a tax relief that operates in the same broad policy space as that mentioned by the Deputy. Budget 2022 provided a tax disregard in respect of personal income received by households who sell residual electricity from microgeneration back to the national grid. The aim of the measure is to remove a potential administrative barrier to entry to the...

Written Answers — Department of Finance: Tax Code (2 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 208, 212 and 213 together. I am advised by Revenue that the duration of tenancies is not declared on tax returns. Additionally, short stay accommodation provided through on-line platform operators, such as the one referred to by the Deputy, is generally treated as trading income rather than rental income. As such, it is aggregated with other trading income...

Written Answers — Department of Finance: Radon Gas Levels (2 Jun 2022)

Paschal Donohoe: I wish to inform the Deputy that the offices accommodating my Department are not included in a high-risk area, as identified by the Environmental Protection Agency (EPA).  Although these buildings are located in the lowest EPA risk rated area, the safety and health of all staff is the priority within my Department.  Results from the last Department programme of Radon Gas testing...