Results 5,801-5,820 of 33,883 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2022)

Paschal Donohoe: As the Deputy will be aware, in the Finance Act 2021, I enhanced and formalised the tax arrangements for working from home in line with Government policy to facilitate and support remote working. Accordingly, for the tax year 2022, an income tax deduction amounting to 30% of the cost of vouched expenses for electricity, heat and broadband in respect of those days spent working from home can...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2022)

Paschal Donohoe: An Irish Real Estate Fund (IREF) is an investment undertaking where 25% or more of the value of that undertaking is made up of Irish real estate assets. The regime was introduced to address concerns raised regarding the use of collective investment vehicles by non-residents to invest in Irish property. A Real Estate Investment Trust (REIT) is a quoted company, used as a collective investment...

Written Answers — Department of Finance: Tax Yield (22 Sep 2022)

Paschal Donohoe: Since 2015, the Exchequer has benefitted from a remarkable surge in corporation tax receipts. As of end-August, these receipts stood at nearly €12 billion, and my Department now expects that total corporation tax revenue this year will top €20 billion. For comparison, a decade ago tax paid by the corporate sector amounted to approximately €4 billion. Certainly, these...

Written Answers — Department of Finance: Tax Data (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 118 and 120 together. I am advised by Revenue that their estimates are based on taxpayer units, where taxpayers who are married or in a civil partnership who elect to be jointly assessed are counted as one taxpayer unit. These estimates encompass all taxpayer types, such as those in employment, self-employed, or in receipt of taxable income from other...

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

Paschal Donohoe: I propose to take Questions Nos. 119 and 131 together. As the Deputy will be aware, it is a long-standing practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decision.

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

Paschal Donohoe: With regard to the Deputy’s proposal to introduce new personal taxation treatment to encourage stay at home parents to enter part-time employment in strategic areas, I understand the rationale behind the Deputy's question. At the same time, the sectors mentioned by the Deputy are not the only sectors that are currently facing recruitment challenges in what is fortunately a very buoyant...

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

Paschal Donohoe: Recent Budgets have seen major changes to Motor Tax and VRT structures with the aim of incentivising the purchase of more efficient and 'greener' vehicles. Budget 2021 saw the transition to the more accurate Worldwide Harmonized Light Vehicles Test Procedure (WLTP); and restructured the VRT and motor tax regimes with a view to strengthening their environmental rationale in line with...

Written Answers — Department of Finance: Banking Sector (22 Sep 2022)

Paschal Donohoe: I am in regular contact with the Central Bank of Ireland on a range of matters and my officials also meet regularly with the Central Bank to discuss the withdrawal of Ulster Bank and KBC from the Irish market. The decisions of Ulster Bank and KBC to leave the Irish market are regrettable and my focus is on ensuring an orderly withdrawal and minimising the disruption to impacted...

Written Answers — Department of Finance: Banking Sector (22 Sep 2022)

Paschal Donohoe: Over the last decade, we have seen a shift in the way consumers and businesses are paying and banking. While historically Ireland has been a relatively cash-intensive economy, advances in technology and changing customer demands have prompted a rapid increase in the take-up of electronic payments. The Covid-19 pandemic has acted as a potential catalyst for the move towards digital payments...

Written Answers — Department of Finance: Enterprise Support Services (22 Sep 2022)

Paschal Donohoe: The Government is acutely aware of the difficulties Irish businesses are going through arising from substantial increases in energy bills. Since the beginning of the year, this Government has taken action to ease the burden for energy users, including SMEs, as much as possible. Since Budget 2022, measures of approximately €2.4 billion have been introduced to ease the burden of cost of...

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

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decision. I am advised by the Revenue Commissioners that traders are not required to separately identify the VAT yield generated from a particular product type or activity on their VAT returns....

Written Answers — Department of Finance: Departmental Reviews (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 127, 145, 160 and 163 together. The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on 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...

Written Answers — Department of Finance: Budget 2023 (22 Sep 2022)

Paschal Donohoe: In recognition of the need for a broader perspective on our progress as an economy and as a society, the Programme for Government2020committed to the development of new measures of well-being. Since then, considerable progress has made been towards achieving that commitment, with the establishment of the Irish Well-being Framework and a vast amount of associated and supporting work completed....

Written Answers — Department of Finance: Budget 2023 (22 Sep 2022)

Paschal Donohoe: Addressing vacancy and dereliction, and maximising the use of existing housing stock, is a priority objective of the Government. Housing for Alloutlines a suite of measures aimed at addressing vacancy in a coordinated, robust manner, and specifically includes an action for the Department of Finance to collect data on vacancy with a view to introducing a vacant property tax. Provisions...

Written Answers — Department of Finance: Commissions of Investigation (22 Sep 2022)

Paschal Donohoe: On 7 September, the Taoiseach published the Final Report of the Commission of Investigation (IBRC) on the transaction in relation to Siteserv and the principles and policies within IBRC on interest rates. This extensive report outlined the transaction, makes various adverse findings against individuals and made various recommendations. I note that the Report refers to an individual who...

Written Answers — Department of Finance: Economic Policy (22 Sep 2022)

Paschal Donohoe: Prior to the pandemic, the economic fundamentals of the Irish economy were in a strong position, with robust growth, a labour market close to full employment and public finances broadly balanced. From this position of strength, and with the aid of government policies, the Irish economy proved to be remarkably resilient during successive lockdowns and emerged from the pandemic, at the start of...

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

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Insurance Industry (22 Sep 2022)

Paschal Donohoe: Insurance reform is a key priority for this Government as evidenced by the fact that implementation of the Action Plan on Insurance Reformis overseen by the Cabinet Sub-Group on insurance reform. The establishment of the Office to Promote Competition in the Insurance Market, which I chair, is a Programme for Governmentcommitment. Its aims are to help expand the risk appetite of existing...

Written Answers — Department of Finance: Mortgage Interest Rates (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 135 and 149 together. I am aware that the European Central Bank (ECB) has in recent months increased its official interest rates. The ECB is independent in the formulation and implementation of monetary policy. The price lenders charge for their loans is a commercial matter for individual lenders. As Minister for Finance I cannot determine the...

Written Answers — Department of Finance: Tax Exemptions (22 Sep 2022)

Paschal Donohoe: 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 up to a maximum of €1,250 (€1,500 in the case of e-bikes), for an employee to use, in whole or in part, to travel to work. Safety equipment includes...