Results 5,561-5,580 of 33,118 for speaker:Paschal Donohoe

Emergency Budget: Motion (Resumed) [Private Members] (28 Jun 2022)

Paschal Donohoe: But the Deputy wants me to cut taxes even more.

Emergency Budget: Motion (Resumed) [Private Members] (28 Jun 2022)

Paschal Donohoe: I thank the Deputies for their contributions on a matter I know is very important for our country. It is a challenge affecting homes and households in every community in our country this evening. It is in recognition of this that the Government has acted. It is in understanding the challenges many are facing that we have made so many changes already. I want to list what they are because...

Written Answers — Department of Finance: Tax Code (28 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 210 and 211 together. The Help to Buy incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes...

Written Answers — Department of Finance: Vehicle Registration Tax (28 Jun 2022)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) set against the purchase and use of an adapted car, and for transport of a person with specific severe and permanent physical disabilities. The Scheme also provides payment of a Fuel Grant, and an exemption from Motor Tax. Certain other qualifying criteria...

Written Answers — Department of Finance: Departmental Schemes (28 Jun 2022)

Paschal Donohoe: I propose to takes Questions Nos. 213 and 226 together. Section 128F of the Taxes Consolidation Act 1997 provides for the Key Employee Engagement Programme (KEEP), a targeted tax incentive for SMEs to support the use of share options as a form of staff remuneration. In order to qualify for KEEP, a share option must be exercised within 10 years of grant. Under KEEP, gains...

Written Answers — Department of Finance: International Agreements (28 Jun 2022)

Paschal Donohoe: The provisions of the Ireland and Morocco Double Taxation Convention apply to persons, including companies, who are resident of either Contracting State or both as defined by the Convention. Benefits under the Convention are only extended by one State to a resident of the other State and with respect to income arising in either State. Persons not so resident and sources of income not from...

Written Answers — Department of Finance: Tax Code (28 Jun 2022)

Paschal Donohoe: The BIK exemption forms part of a broader series of very generous measures to support the uptake of EVs, including a reduced rate of 7% VRT, a VRT relief of up to €5,000, low motor tax of €120 per annum, SEAI grants, discounted tolls fees, and 0% BIK on electric charging. In Finance Act 2019, I legislated for a CO2-based BIK regime for company cars from 1/1/2023. From that date...

Written Answers — Department of Finance: Tax Reliefs (28 Jun 2022)

Paschal Donohoe: Section 114 of the Taxes Consolidation Act 1997 (TCA) provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. Professional membership fees are only deductible under section 114 TCA where they are incurred wholly, exclusively and necessarily by an individual in the performance...

Written Answers — Department of Finance: Tax Yield (28 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 218 and 219 together. I am advised by Revenue that the provisional Mineral Oil Tax (MOT) Non-Carbon Component (NCC) and Carbon Component (CC) excise duty receipts in respect of motor fuels for the period January to May 2022 are shown in the following tables. Projections of excise duty at the commodity level were not prepared in advance of the period January...

Written Answers — Department of Finance: Departmental Bodies (28 Jun 2022)

Paschal Donohoe: I can advise the Deputy that information on State Board membership, by Department, is available on the State Boards website www.StateBoards.ie. I would point out that, having concluded its restructuring work in 2017, the Credit Union Restructuring Board (ReBo) was operationally wound down and is awaiting formal dissolution.  While awaiting final dissolution, the Minister for Finance...

Written Answers — Department of Finance: Insurance Coverage (28 Jun 2022)

Paschal Donohoe: I understand that the Deputy is referring to a situation in relation to an application for life assurance (as opposed to health insurance) for the purposes of a mortgage application. There is a broad legal and regulatory framework in place which governs the provision of mortgages to consumers.  Specifically in relation to the requirement for life assurance for the...

Written Answers — Department of Finance: Departmental Staff (28 Jun 2022)

Paschal Donohoe: As of 31 May 2022 there are 368 staff (361.40 FTE) employed by the Department. Staff in my Department have been working on a blended working pattern since 24 January 2022. Blended working patterns in each business unit are arranged at a local level to ensure business needs are met. As such, the number of staff in the Department working from home and the office fluctuates on a daily basis in...

Written Answers — Department of Finance: Insurance Coverage (28 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 prevents Member States from doing so. ...

Written Answers — Department of Finance: Tax Credits (28 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 an increase in the value of the tax credit as mentioned by the Deputy are set out in the following table. Measure Adjustment First year cost Full year cost Incapacitated child tax credit An increase of...

Written Answers — Department of Finance: Tax Credits (28 Jun 2022)

Paschal Donohoe: Based on Revenue’s latest Ready Reckoner (post-Budget 2022), the estimated cost on a first and full year basis of the increases in the value of the tax credit as mentioned by the Deputy are set out in the following table. Measure Adjustment First year cost Full year cost Home Carer tax credit* An increase of €200...

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (23 Jun 2022)

Paschal Donohoe: I thank Deputy Moynihan for raising this matter. As he will be aware, in 2008, the price of oil was at a very low point because of the impact of the global financial crisis and other factors that meant the price was at a very low level. The House will be aware the Government has done an awful lot to reduce the price of fuel, and the excise reduction we put in place of 15 cent and 20 cent is...

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (23 Jun 2022)

Paschal Donohoe: I acknowledge that Deputy Devlin has raised this issue with me on a number of occasions. He is raising an important matter regarding how consumers can be protected as they take out loans that could stretch across the duration of their life, given the cost can be uncertain and can grow. I recognise the very legitimate point he is raising. He is also correct that the Central Bank regulates...

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (23 Jun 2022)

Paschal Donohoe: The scale of the fine that has been imposed by the Central Bank on these two banks shows the strength of our regulatory system and how seriously the unacceptable behaviour in respect of tracker mortgages is being taken by the Central Bank and the State. The legislation Deputy Doherty is referring to has taken some time to draft. It required pre-legislative scrutiny as was correct, and...

Written Answers — Department of Finance: Tax Data (23 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 188 and 189 together. I am advised by Revenue that the number of individuals making pension contributions through employment in 2019, broken down by income range is published on the Revenue website at www.revenue.ie/en/corporate/documents/research/pmod-statisti cs-paper.pdf (Table 7). I am also advised by Revenue that deductions to taxable income...

Written Answers — Department of Finance: Tax Code (23 Jun 2022)

Paschal Donohoe: The Deputy should note at the outset that, while I acknowledge that there is a range of perspectives on the issue of exit taxes, I currently have no plans to make any change to either the exit tax or capital gains tax regime. Capital gains tax (CGT) is a tax you pay on any capital gain (profit) made when you dispose of an asset. It is the chargeable gain that is taxed, not the whole...