Results 5,801-5,820 of 33,118 for speaker:Paschal Donohoe

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

Paschal Donohoe: In general, capital gains tax (CGT) is chargeable on a gain arising on the disposal of an asset at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of one’s principal private residence, being a dwelling house (including an...

Written Answers — Department of Finance: Tax Code (31 May 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...

Written Answers — Department of Finance: Tax Code (31 May 2022)

Paschal Donohoe: As the Deputy will be aware, the Universal Social Charge (USC) was designed and incorporated into the Irish taxation system in 2011 to replace two other charges, namely the Health and Income Levies. Its primary purpose was to widen the tax base and to provide a stable revenue stream to the Exchequer to provide funding for public services.    The USC is an individualised...

Written Answers — Department of Finance: Tax Code (31 May 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: Fiscal Policy (31 May 2022)

Paschal Donohoe: In July 2020, the European Council adopted a €750 billion recovery package for Europe. This package, NextGenerationEU, is Europe’s shared response to the health and economic crisis caused by COVID-19. At the heart of the package lies the Recovery and Resilience Facility. The aim of the Facility is to address the economic and social impact of the pandemic and make European...

Written Answers — Department of Finance: Revenue Commissioners (31 May 2022)

Paschal Donohoe: I am advised by Revenue that all Revenue public offices, excluding ports, airports and trade facilitations stations remain closed to the public until further notice. Revenue continues to provide a full range of online services for taxpayers to manage their tax affairs, which for the most part removes any requirement to access public offices. These services, which include an online...

Written Answers — Department of Finance: Tax Data (31 May 2022)

Paschal Donohoe: I am advised by Revenue that Table 1 below sets out the information requested by the Deputy in respect of VRT related compliance activity in March and April 2022. Table 1 2022 Warnings Detentions  (s.140 FA 2001) Seizures  (s.141 FA 2001) Compromise Penalties Value of Compromise Penalties March 18 ...

Written Answers — Department of Finance: Tax Credits (31 May 2022)

Paschal Donohoe: The position is that the “Home Carer” tax credit is only available to married couples or civil partners where one spouse/civil partner (the “home carer”) cares for one or more dependent persons. The married couple/civil partners must be jointly assessed for tax purposes and no credit is available where the married couple/civil partners are taxed under separate...

Written Answers — Department of Finance: Departmental Staff (31 May 2022)

Paschal Donohoe: I wish to inform the Deputy that there are 321 staff employed in my Department, broken down by gender and grade as follows: Grade Female Male Secretary General 0 1 Assistant Secretary 1 6 Director 0 1 Principal Officer 11 20 ...

Written Answers — Department of Finance: Primary Medical Certificates (31 May 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, the...

Written Answers — Department of Finance: State Claims Agency (31 May 2022)

Paschal Donohoe: I understand from the National Treasury Management Agency (NTMA) that the competitive procedure for the establishment of the State Claims Agency (SCA) panels of junior counsel is still in the process of completion and has not been fully concluded.

Written Answers — Department of Finance: Illicit Trade (31 May 2022)

Paschal Donohoe: I am advised by Revenue that it had 75 seizures of nitrous oxide in 2021, consisting of 385,891 canisters. To date in 2022, Revenue has had 106 product seizures, consisting of 2,350 canisters. Nitrous oxide is not prohibited and has a number of legitimate uses, for example in the food industry. However, where Revenue has reasonable grounds for believing that importations of nitrous oxide...

Written Answers — Department of Finance: Illicit Trade (31 May 2022)

Paschal Donohoe: I am advised by Revenue that the number of persons successfully prosecuted for cigarette or tobacco smuggling in 2021 and to date in 2022 is set out in the table below. The number of persons successfully prosecuted for other cigarette or tobacco-related offences, including the sale and supply of illicit tobacco products is also shown. ...

Written Answers — Department of Finance: Tax Data (31 May 2022)

Paschal Donohoe: I am advised by Revenue that traders are not obliged to separately identify VAT on specific goods or services on their periodic VAT returns and, as such, an exact amount of the VAT yield for fuel is not available. However, using Revenue’s Excise clearances and third-party data, a tentative estimate of VAT liability arising in respect of fuel products, in each of the six months from...

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

Paschal Donohoe: I propose to take Questions Nos. 180, 181 and 182 together. As the Deputy is aware, Government policy is not to hold the State's investments in AIB, Bank of Ireland and Permanent TSB long term. This country has learned at great cost that banking is a risky activity requiring significant amounts of capital support in times of stress. Therefore successive Governments have held the view that it...

Written Answers — Department of Finance: Tax Credits (31 May 2022)

Paschal Donohoe: The Incapacitated Child Tax Credit (ICTC) is available to any individual who proves that he or she has, at any time during a year of assessment, a child who is permanently incapacitated by reason of mental or physical infirmity to such an extent that he or she is, or is reasonably expected to be once aged 18, unable to maintain themselves. As previously advised in response to...

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (26 May 2022)

Paschal Donohoe: I thank the Deputy for raising this issue. For some time, he has been raising issues in relation to the withdrawal of Ulster Bank from the Irish banking sector. There is already a huge amount of engagement under way with regard to the important issue the Deputy has raised. In recent days, the Central Bank has met with the banks that are involved in exiting our market, as well as the banks...

Written Answers — Department of Finance: Housing Schemes (26 May 2022)

Paschal Donohoe: I am advised by Revenue that they have examined the tax records of the persons concerned and the parties’ application for the Help-To-Buy (HTB) has now been approved, having been originally submitted on 27 April 2022. For clarity, the HTB scheme has two stages – the ‘application stage’ where the eligibility of the applicant(s) is determined, together with the...

Written Answers — Department of Finance: Financial Services (26 May 2022)

Paschal Donohoe: As the Deputy is aware, there is a broad legal and regulatory framework in place which governs the provision of mortgages to consumers.  Specifically in relation to mortgage protection insurance, section 126 of the Consumer Credit Act 1995 provides that mortgage lenders shall ensure that a mortgage applicant has a life assurance policy in place before granting a mortgage...

Finance (Covid-19 and Miscellaneous Provisions) Bill 2022: From the Seanad (25 May 2022)

Paschal Donohoe: I thank the Deputy for the points raised. I differ with him about the description he used for the support for the hospitality sector. He described it as a form of corporate welfare. Nobody is no more aware than I am of how much support went to that sector, though I know the Deputy is aware of it too. He is right that it is the largest beneficiary of the employment wage subsidy scheme. It...