Results 5,801-5,820 of 32,433 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (22 Feb 2022)

Paschal Donohoe: We are just bringing in measures that will increase the corporate tax rate for the largest companies - I am not sure of the turnover of these companies - by 15%. Corporate tax rates will go up. The Deputy will appreciate the challenge involved in doing this. I know he would want them to go up more. One of the reasons corporate tax rates are increasing is it is a challenge to look at how...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (22 Feb 2022)

Paschal Donohoe: It is important that we have this discussion in the context of overall Government housing policy, which is providing record levels of State investment for all forms of housing. However, Government expenditure alone cannot meet all the housing needs of our State. Modelling undertaken by my Department estimates that approximately €12 billion of development funding will be required...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (22 Feb 2022)

Paschal Donohoe: Let me be clear that where tax is paid: it is paid by those who invest in these regimes. Those in REITs are subject and liable to a 25% withholding tax, while those in, or investing in, an IREF, are subjected to a 20% dividend withholding tax. That is where the tax is paid. It is paid when the person or the company investing in one of these funds gets the money back. It is taxed in...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (22 Feb 2022)

Paschal Donohoe: I reiterate this is a Government that is investing €4 billion annually in responding to the intense housing needs we know exist. In the aftermath of a pandemic, this is a Government that has seen its policies lead to more than 20,000 homes being built last year, more than 30,000 homes now being commenced and more than 35,000 homes having received planning permission. That is what the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (22 Feb 2022)

Paschal Donohoe: -----and the price of homes change so they will be able to afford to buy their first home. I accept that, but that is why we have the help to buy scheme, which the Deputy is against-----

Carbon Tax: Motion (Resumed) [Private Members] (22 Feb 2022)

Paschal Donohoe: As other speakers have said, when we debate carbon taxation and climate change, we are, in effect, debating the future of humanity on our planet, the future of communities and peoples all over our world and, in some parts of our world, the future of their civilisation. That is what is at stake when we debate climate change and the future of our environment and our biodiversity. When...

Carbon Tax: Motion (Resumed) [Private Members] (22 Feb 2022)

Paschal Donohoe: Therefore, the only university heralded by Sinn Féin this evening to advance its cause regarding carbon taxing, the party's view on which I am still not clear on, a point to which I will come to in a moment, did publish a paper by one of its members of staff on carbon taxation, but many other papers from the same university acknowledge the role of carbon taxation and carbon pricing and...

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

Paschal Donohoe: I propose to take Questions Nos. 14, 79, 80, 228 and 242 together. The Disabled Drivers & Disabled Passengers Scheme (DDS) provides relief from VRT 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 who also meet one of six specified medical criteria, as a...

Written Answers — Department of Finance: Credit Unions (22 Feb 2022)

Paschal Donohoe: As the Deputy may be aware, as Minister, I have no role in the commercial decisions made by any credit union or their representative bodies. Decisions in this regard, including those related to pensions, are the sole responsibility of the board and management of the credit unions. I have agreed to meet with the Financial Services Union and SIPTU to hear their perspectives on the pension...

Written Answers — Department of Finance: Financial Services (22 Feb 2022)

Paschal Donohoe: It has always been my intention that any regulation in this space would be appropriately comprehensive without discouraging innovation. In Ireland, as of 23 April 2021, providers of services of virtual assets such as digital assets or cryptocurrencies must legally meet anti-money laundering and countering the financing of terrorism obligations. Thus, all virtual asset service providers...

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

Paschal Donohoe: Irish VAT law must comply with the EU VAT Directive, which directs that Member States must apply a standard VAT rate of 15% or more, and can apply up to two reduced VAT rates of 5% or more. Ireland applies the 23%, 13.5% and 9% VAT rates in this context. The standard rate of 23% applies to approximately 51% of activity, including cars, petrol, diesel, alcohol, tobacco, electrical equipment...

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

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. The VAT Directive obliges each Member State to have a standard rate of VAT and also allows that a Member State may choose to have no more than two reduced rates of VAT, which may be no less than 5%, and which may be applied to certain goods and...

Written Answers — Department of Finance: Illicit Trade (22 Feb 2022)

Paschal Donohoe: I am assured by Revenue that combating the threat which fuel fraud and the illicit alcohol and tobacco trades pose to legitimate businesses, consumers and the Exchequer continues to be a priority. Steps taken by Revenue to combat the illegal mineral oils trade include the introduction of stringent supply chain controls and reporting requirements, a rigorous programme of risk focused...

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

Paschal Donohoe: I propose to take Questions Nos. 26 and 31 together. The National Claims Information Database (NCID) was established in order to improve transparency in the insurance claims environment and to support data-driven policy making. It contains a wealth of information, including data on: the cost of premiums; the cost and frequency of claims; claims settlement; and the revenues, expenditures, and...

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

Paschal Donohoe: I propose to take Questions Nos. 27 and 73 together. Where e-workers incur certain extra expenditure in the performance of their duties of employment remotely or from home, such as additional heating and electricity costs, there is a Revenue administrative practice in place that allows an employer to make payments up to €3.20 per day to such employees, subject to certain...

Written Answers — Department of Finance: Inflation Rate (22 Feb 2022)

Paschal Donohoe: As the Deputy is aware, my Department publishes two sets of macro-economic forecasts each year, one in the spring and one in the autumn, in line with our requirements under EU law. Our spring forecasts will be published in April and set out in the Stability Programme Update. As is the norm, this will include inflation projections for the next few years. The projections will cover headline...

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

Paschal Donohoe: “Bogus self-employment” is the description commonly given to a scenario where an individual engaged to do a job is wrongly classified as being self-employed by an employer who seeks to avoid employment related obligations. From a tax perspective, this relates to income tax, Universal Social Charge (USC) and Pay Related Social Insurance (PRSI) (including Employer’s PRSI)...

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

Paschal Donohoe: The Finance (No.2) Act 2013 introduced the Financial Institutions Levy for the three-year period 2014 to 2016 with the purpose of enabling the banking sector to contribute to economic recovery. Finance Act 2016 extended the levy to 2021. The annual yield of this levy has been approximately €150 million. In advance of Budget 2022, and in light of the then pending lapse of the Levy, I...

Written Answers — Department of Finance: Financial Services (22 Feb 2022)

Paschal Donohoe: The Ireland for Finance Action Plan 2022 was approved by the Government at its meeting on 25 January 2022. My colleague, the Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Deputy Seán Fleming, published Action Plan 2022 on 3 February 2022. One of the five themes Minister Fleming has identified for Action Plan 2022 is ‘Regionalisation and...

Written Answers — Department of Finance: Consumer Protection (22 Feb 2022)

Paschal Donohoe: Addressing the issue that firms offering consumer credit at the point of sale does not require authorisation by the Central Bank has been a key element of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021. Committee Stage of the Bill is due to take place on the 23rd of February 2022 and the Government will put forward an amendment to the Bill...