Results 5,521-5,540 of 32,433 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Contracts (5 Apr 2022)

Paschal Donohoe: I can advise the Deputy that the amount my Department spent in respect of consultancy services in 2020, 2021 and to date in 2022 is outlined in tabular form below. 2020 Supplier Amount Description William Fry €228,459.62 Legal Advice Indecon €133,393.50 Economic Consultancy ...

Written Answers — Department of Finance: National Asset Management Agency (31 Mar 2022)

Paschal Donohoe: All NAMA staff are employees of the NTMA and are assigned to NAMA by the NTMA in line with Section 42 of the NAMA Act 2009. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are typically employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. Staff assigned to NAMA...

Written Answers — Department of Finance: Tax Reliefs (31 Mar 2022)

Paschal Donohoe: I propose to take Questions Nos. 217 and 218 together. I am advised by Revenue that the available information in relation to the cost of tax relief on pension contributions is available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf. The information includes the number of taxpayers availing of the relief as well as the...

Written Answers — Department of Finance: Inflation Rate (31 Mar 2022)

Paschal Donohoe: Both the Consumer Price Index (CPI) and the Harmonised Indices of Consumer Prices (HICP) are used to measure consumer price inflation in Ireland. The HICP however is a harmonised measure and is used for comparison across EU Member States. The two series are broadly consistent, though small differences arise due to the slightly different composition of each price basket, the main difference...

Written Answers — Department of Finance: Inflation Rate (31 Mar 2022)

Paschal Donohoe: Consumer price inflation picked up sharply over the second half of last year and in February stood at 5.7 per cent. Almost every advanced country in the world is in a similar position, with inflation reaching a record high of 5.9 per cent in the euro area in February. This pick-up in inflation, ceteris paribus, may reduce the ‘real’ burden of the outstanding stock of public...

Written Answers — Department of Finance: Bonds Redemption (31 Mar 2022)

Paschal Donohoe: I am informed by the National Treasury Management Agency (NTMA) that the below tables show the generic 10-year Irish bond yield at each month-end since 2019. The figure for March 2022 is as of 30thMarch. The data is sourced from Bloomberg. 2019 Month Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 ...

Written Answers — Department of Finance: Household Debt (31 Mar 2022)

Paschal Donohoe: The table to which the Deputy refers, which was contained within the Distributional Analysis of Budget 2022 published by the Departments of Finance and Public Expenditure and Reform, shows the changes in weekly equivalised household disposable income as a result of the Budget’s tax and welfare measures. The analysis is conducted using SWITCH, the ESRI’s tax-benefit...

Written Answers — Department of Finance: Tax Reliefs (31 Mar 2022)

Paschal Donohoe: As the Deputy will be aware, section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the Cycle to Work scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment for an employee and was introduced in 2009. The cycle to work scheme operates on a self-administration basis. Relief is...

Written Answers — Department of Finance: Financial Services (31 Mar 2022)

Paschal Donohoe: For convenience I set out below the response I provided to the Deputy on this question on 19 January 2022. The Central Bank of Ireland is designated as the supervisory authority with respect to the Investment Intermediaries Act 1995 ('the IIA'). Section 39(1) of the IIA sets out that any person proposing to make an "acquiring transaction" (as defined in section 38(2) of the IIA) of...

Written Answers — Department of Finance: Vehicle Registration Tax (31 Mar 2022)

Paschal Donohoe: I propose to take Questions Nos. 225 and 227 together. I am advised by Revenue that the number of vehicles seized for Vehicle Registration Tax (VRT) related offences and the number of cases where a compromise penalty was paid for each of the years 2015 to 2021 is set out in Table 1 below. A breakdown of compromise penalties refunded by number and by value is not available as information is...

Written Answers — Department of Finance: Tax Residency (31 Mar 2022)

Paschal Donohoe: The query relates to the criteria for eligibility for exemption from the requirement to be registered with the Revenue Commissioners for Vehicle Registration Tax (VRT) purposes where a vehicle is temporarily brought into the State. I am informed by Revenue that it may grant a vehicle temporary exemption from the requirement to register a vehicle in the State for VRT if it is owned or...

Written Answers — Department of Finance: Banking Sector (31 Mar 2022)

Paschal Donohoe: My Department is in regular contact with both KBC and Ulster Bank. In all engagements it is emphasise the need for an orderly withdrawal. Both Ulster Bank and KBC will be providing me with regular updates, in the months ahead, regarding account numbers and any issues consumers are encountering with moving their account. My Department is also in regular contact with key stakeholders,...

Written Answers — Department of Finance: Gender Equality (31 Mar 2022)

Paschal Donohoe: The Gender Pay Gap Information Act 2021, once regulations are made, will require certain employers to publish information relating to the remuneration of their employees by reference to the gender of such employees for the purpose of showing whether there are differences in such remuneration referable to gender. My Department continually seeks to grow its people and enhance its culture to...

Written Answers — Department of Finance: Transport Policy (31 Mar 2022)

Paschal Donohoe: The Cycle-to-Work scheme is an action of my Department and Revenue that encourages people to cycle to and from work. Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for this scheme. This scheme provides an exemption from benefit-in-kind where an employer purchases a bicycle and associated safety equipment for an employee. Under section 118B TCA 1997, an employer and...

Written Answers — Department of Finance: Tax Code (30 Mar 2022)

Paschal Donohoe: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. Article 78 of the VAT Directive provides that the taxable amount shall include “taxes, duties, levies and charges, excluding the VAT itself”. The amount on which VAT is chargeable, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, is the total consideration receivable by...

Written Answers — Department of Finance: Tax Code (30 Mar 2022)

Paschal Donohoe: I am advised by Revenue that rent payments for standalone accommodation on an individual’s property are subject to taxation in the same manner as any residential property that is let by its owner. Section 97(1) Taxes Consolidation Act (TCA) 1997 sets out the rules for computing rental profits or gains in such circumstances. Landlords are entitled to deduct certain expenses from...

Written Answers — Department of Finance: Insurance Industry (30 Mar 2022)

Paschal Donohoe: Government fully recognises the concerns felt by many consumers and businesses regarding the cost and availability of insurance. However, it should be noted that according to the CSO that in February 2022, the price of motor and home insurance decreased by 11 and 1 per cent respectively year-on-year, despite a 5.6 per cent rise in the general price level over the corresponding period....

Written Answers — Department of Finance: Primary Medical Certificates (30 Mar 2022)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief,...

Written Answers — Department of Finance: Tax Data (30 Mar 2022)

Paschal Donohoe: I propose to take Questions Nos. 31 and 32 together. I am advised by Revenue that approximately 2,700 apprentices started off-the-job training in January 2022, the returning of these apprentices takes place at different stages, but the majority should have returned to their primary employer in March. Tax returns data available to Revenue do not distinguish in what phase an apprentice is in....

Written Answers — Department of Finance: Tax Reliefs (29 Mar 2022)

Paschal Donohoe: I propose to take Questions Nos. 257 and 259 together. I propose to take these questions together as they are related. Section 469 of the Taxes Consolidation Act 1997 (TCA 1997) provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health...