Results 5,821-5,840 of 33,883 for speaker:Paschal Donohoe

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

Paschal Donohoe: I am advised by Revenue that VAT returns do not require traders to separately identify the VAT yield from the supply of specific products or services. Therefore, the information required for estimating the VAT collected on fuel is not readily available from information provided on tax returns. However, an estimate of the VAT collected on fuel (e.g. Petrol, Diesel, Kerosene, Marked gas oil,...

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

Paschal Donohoe: As the Deputy will appreciate, with under a week to go to the annual Budget, it would not be appropriate for me to comment on any issue which may or may not be the focus of policy changes in the context of that Budget. The Government's strategy in relation to housing is aimed at delivering more homes of all types for people with different housing needs, including those who wish to rent at...

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

Paschal Donohoe: I am advised by Revenue that the excise receipts per year on fuel for the years 2017 to 2021, and the year-to-date August 2022, are as follows: Excise Duty on Fuel (€millions) 2022* 1,602.4 2021 2,578.4 2020 2,308.6 2019 2,594.7 2018 2,594.4...

Written Answers — Department of Finance: Commission on Taxation (22 Sep 2022)

Paschal Donohoe: The Commission on Taxation and Welfare was an independent group that was established in April 2021 as a result of a commitment in the Programme for Government. The terms of reference for the Commission members were broad and comprehensive. The Commission was asked to independently consider how best the taxation and welfare systems can support economic activity, and promote increased...

Written Answers — Department of Finance: Defective Building Materials (22 Sep 2022)

Paschal Donohoe: The Working Group to Examine Defects in Housing was published on 28 July last. It is clear from the report that the process of remediation is likely to take many years to complete and that the estimated potential costs of such remediation are very substantial and that appropriate actions will need to be prioritised. The report sets out a number of funding options of which taxation measures...

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 a Budget decision.

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

Paschal Donohoe: I propose to take Questions Nos. 144, 153 and 154 together. This Government recognises the importance of credit unions. The Programme for Government contains commitments to: - Review the policy framework within which credit unions operate; - Enable and support the credit union movement to grow; - Support credit unions in the expansion of services, to encourage community development; and -...

Written Answers — Department of Finance: Pension Provisions (22 Sep 2022)

Paschal Donohoe: The Interdepartmental Pensions Reform and Taxation Group (IDPRTG) was established to carry out a number of tasks set out in the Roadmap for Pensions Reform 2018 -2023. The Roadmap set out the need to promote long-term pension saving to address income adequacy in retirement, in particular for low income earners. The IDPRTG is chaired by the Department of Finance, and includes representatives...

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

Paschal Donohoe: Since January 2022, Minister of State Fleming, who has responsibility for credit unions, has held or attended 22 meetings and events with various credit union stakeholders including the Representative Bodies, the Credit Union Advisory Committee and individual credit unions. He has also spoken at the AGMs of the Irish League of Credit Unions, the Credit Union Development Association and...

Written Answers — Department of Finance: Vacant Properties (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: Fiscal Policy (22 Sep 2022)

Paschal Donohoe: The step-change in energy prices on foot of Russia’s invasion of Ukraine has resulted in a ‘terms-of-trade’ shock, which has seen import bills rise across EU and euro area Member States. In effect, this has resulted in a transfer of domestic incomes from net energy importing countries to net energy exporting countries, leading to a deterioration in the current account...

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

Paschal Donohoe: The Commission on Taxation and Welfare was an independent group that was established in April 2021 as a result of a commitment in the Programme for Government. It was asked to independently consider how best the taxation and welfare systems can support economic activity, and promote increased employment and prosperity while ensuring that there are sufficient resources available to meet the...

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

Paschal Donohoe: As the Deputy will appreciate, 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). Nevertheless, this Government understands that insurance costs are...

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

Paschal Donohoe: In its recently published report, the Commission on Taxation and Welfare makes a number of serious and wide-ranging recommendations regarding the future of the tax and welfare systems in Ireland. The report runs to more than 500 pages and contains 116 recommendations. The report poses serious questions that we as a society must carefully consider. The recommendations will foster real...

Written Answers — Department of Finance: Energy Prices (22 Sep 2022)

Paschal Donohoe: I propose to take Questions Nos. 157 and 224 together. Consumer price (HICP) inflation has picked up sharply over the course of this year and stood at 9 per cent in August. Almost every advanced economy in the world is in the same position, with inflation rates of 8.3 and 9.1 per cent recorded in the US and euro area respectively in August. The key driver of the elevated level of inflation at...

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

Paschal Donohoe: In 2021, I introduced a higher 10% rate of stamp duty on multiple purchases of residential properties. The rate was introduced by Financial Resolution on 19 May 2021 and is provided for by section 31E of the Stamp Duties Consolidation Act 1999. It applies where a person buys 10 or more residential properties, excluding apartments, in any 12-month period. The background to the introduction of...

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

Paschal Donohoe: I wish to highlight, as Minister for Finance, I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. Decisions in this regard, including AIB's original announcement on 19 July 2022 to re-purpose 70 of its branches across the country, are the sole responsibility of the board and management of the banks,...

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

Paschal Donohoe: SMEs play a key role in the Irish economy, comprising 99.7% of the total enterprise population, 66.4% of employment, 43.6% of total turnover and 36.9% of gross value added (“GVA”) in the Business Economy . This is why my Department conducts the SME Credit Demand Survey and has been doing so biannually since 2011. The SME Credit Demand survey is an independent and statistically...

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

Paschal Donohoe: The Programme for Government includes a commitment to facilitate and support remote working. As part of the national remote working strategy: Making Remote Work, in 2021 the Tax Strategy Group (TSG) reviewed the tax arrangements for remote working in respect of both employees and employers. The paper is published on my Department’s website. The TSG paper noted that changes to the...

Written Answers — Department of Finance: Cost of Living Issues (22 Sep 2022)

Paschal Donohoe: Consumer price (HICP) inflation picked up sharply over the course of last year and stood at 9 per cent in August. Almost every advanced economy in the world is in the same position, with euro area inflation reaching a record 9.1 per cent in August. The key driver of the elevated level of inflation at present is the sharp rise in wholesale energy, food and other commodity prices since the...