Results 5,641-5,660 of 32,433 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Ukraine War (22 Mar 2022)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing regulation of the insurance sector.  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...

Written Answers — Department of Finance: Ukraine War (22 Mar 2022)

Paschal Donohoe: The EU Payment Accounts Directive, which is transposed in Ireland by the Payment Accounts Regulation 2016, introduced the right for any consumer who is legally resident in the European Union and who does not already have a payment account with a credit institution in the State to open and use a payment account with basic features.  The Directive explicitly states that a consumer who...

Written Answers — Department of Finance: Tax Code (22 Mar 2022)

Paschal Donohoe: I propose to take Questions Nos. 264 and 265 together. I understand that the proposal for reform of VAT rates is currently being finalised, this process involves, inter alia, ensuring consistent translations of the text in every working language of the European Union. Once finalised I expect the proposal will be published in the Official Journal of the European Union in the coming weeks....

Written Answers — Department of Finance: Electric Vehicles (22 Mar 2022)

Paschal Donohoe: In Finance Act 2021 I extended the BIK exemption to end 2025 with a tapering mechanism that represents a value for money consideration and serves to indicate the removal of the relief altogether in 2025. This extension is in support of Government policy to incentivise the transition to electric vehicles, while the lead in time allows for fleet planning. In Finance Act 2019 I legislated...

Written Answers — Department of Finance: Tax Credits (22 Mar 2022)

Paschal Donohoe: I am advised by Revenue that the home carer tax credit may be claimed by jointly assessed married persons or civil partners where one spouse or civil partner (the ‘home carer’) cares for one or more dependent persons. A dependent person includes an individual who, at any time in the year of assessment, is: - a child in respect of whom the home carer, or his or her spouse or...

Written Answers — Department of Finance: Fuel Prices (22 Mar 2022)

Paschal Donohoe: I am advised by Revenue that arising from an employee’s entitlement to a tax deduction under section 114 of the Taxes Consolidation Act 1997, in respect of certain expenses, there exists a long-standing Revenue practice under which employers may reimburse tax-free to employees the expenses of travel and subsistence relating to that travel, subject to certain conditions being fulfilled....

Written Answers — Department of Finance: Housing Schemes (22 Mar 2022)

Paschal Donohoe: The Help to Buy (HTB) 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 (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the...

Written Answers — Department of Finance: Tax Code (22 Mar 2022)

Paschal Donohoe: At the outset, the Deputy should note that I am assuming he is referring to a second property as opposed to a second-hand property, and I am responding to his question accordingly.  I would firstly like to note that, for property owners selling their own home there is an exemption from Capital Gains Tax (CGT) for the transfer or sale of an individual’s principal private...

Written Answers — Department of Finance: Departmental Reports (10 Mar 2022)

Paschal Donohoe: I can inform the Deputy that the below table outlines the detail and costs of external consultants reports commissioned by the Department of Finance in each of the years 2019 to 2021 and to date in 2022. Year Commissioned Cost Company Title Publication date 2019 €73,738.50 Fitzpatrick Associates ...

Written Answers — Department of Finance: Fuel Prices (10 Mar 2022)

Paschal Donohoe: Yesterday I announced a temporary reduction in the excise rates for auto fuels. The Government recognises the impacts of the current fuel price increases. While these trends are driven primarily by global factors, I have taken the decision to alleviate some of these impacts through the domestic taxation of fuel. Effective from today, there is a 20 cent reduction in the excise...

Written Answers — Department of Finance: Tax Code (10 Mar 2022)

Paschal Donohoe: I am advised by Revenue that where an amateur drama group is in receipt of income, for example, from the sale of tickets to public performances, this could be treated as income from a trade.  In general, taxpayers who carry on a trade are “chargeable persons” under the self-assessment system and are required to submit a tax return to Revenue by 31 October of the year...

Written Answers — Department of Finance: Tax Data (10 Mar 2022)

Paschal Donohoe: I propose to take Questions Nos. 188 and 189 together. I am advised by Revenue that the receipts from Mineral Oil Tax (MOT) and Carbon Tax for petrol, diesel and kerosene for the years 2018, 2019 and 2020 are published on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/excise/net- receipts-by-commodity.pdf. The estimated full year cost of reducing the rate of MOT on...

Written Answers — Department of Finance: Banking Sector (10 Mar 2022)

Paschal Donohoe: As Minister for Finance, I have no role in the operational matters of any bank in the State which includes banks in which the State has a shareholding. The commercial decisions and information in this regard are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis.  However, my officials and I are engaging...

Written Answers — Department of Finance: Tax Code (10 Mar 2022)

Paschal Donohoe: Yesterday I announced a temporary reduction in the excise rates for auto fuels. The Government recognises the impacts of the current fuel price increases. While these trends are driven primarily by global factors, I have taken the decision to alleviate some of these impacts through the domestic taxation of fuel. Effective from today, there is a 20 cent reduction in the excise...

Written Answers — Department of Finance: Ukrainian War (10 Mar 2022)

Paschal Donohoe: The Government's response to the Russian invasion of Ukraine is being crafted within the wider European Union response.  The sanctions imposed by the European Union, and by many other jurisdictions, are unprecedented, and the Government's view is that these should be as onerous as possible. The EU autonomous measures place obligations on all Member States and every natural and legal...

Financial Resolution: Excise (9 Mar 2022)

Paschal Donohoe: I move: (1) THAT for the purposes of the tax charged by virtue of section 95 of the Finance Act 1999 (No. 2 of 1999), that Act be amended, with effect as on and from 10 March 2022, by substituting the following for Schedule 2 to that Act (as amended by section 42 of the Finance Act 2021 (No. 45 of 2021)): Light Oil: Rates per 1,000 litres ...

Finance (Covid-19 and Miscellaneous Provisions) Bill 2022: Second Stage (9 Mar 2022)

Paschal Donohoe: I will comment on some of the issues raised by Deputies relating to the employment wage subsidy scheme, the pandemic special recognition payment and the emergency support schemes we had in place. I welcome the recognition by many Deputies that the support schemes played an invaluable role in protecting our economy as we grappled with the darkest moments of the pandemic. The employment wage...

Finance (Covid-19 and Miscellaneous Provisions) Bill 2022: Second Stage (9 Mar 2022)

Paschal Donohoe: I move: "That the Bill be now read a Second Time". The Bill provides a legislative basis for a number of changes to the main Covid supports that have been announced by the Government and are being implemented by the Revenue Commissioners at the moment on an administrative basis. I am using the opportunity of the Bill to include a number of other financial items that require legislative...

Written Answers — Department of Finance: Tax Reliefs (9 Mar 2022)

Paschal Donohoe: Section 664A Taxes Consolidation Act 1997 provides additional relief for farmers in respect of an increase in the carbon tax on farm diesel.  In addition to being able to claim a tax deduction for expenditure incurred on farm diesel (including any carbon tax charged in respect of the diesel), in computing their taxable farming profits, farmers may claim a further deduction for farm...