Results 581-600 of 32,429 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Exchequer Returns (13 Feb 2025)

Paschal Donohoe: We got an insight into the thinking of Aontú there. The Deputy went on to say we are outsourcing our sovereignty. That is the thinking of the 1950s and 1960s. It is not the thinking that has enabled this country to grow its prosperity. It is not the approach that will help us navigate our way through the challenges that are there.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (13 Feb 2025)

Paschal Donohoe: I thank the Deputy for his question on this very important topic. At least he has a recognition of the value of organisations like the OECD. As to where we are, as the Deputy outlined Ireland signed up to a global tax deal. We did so in October 2021, as he is aware. That was part of an overall inclusive framework on base erosion and profit shifting as part of the G20 and OECD agreement....

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (13 Feb 2025)

Paschal Donohoe: Our intent very much is to engage with the United States with a view to making the case to it for continued participation in the OECD framework. That is the outcome we will seek to achieve. I fully acknowledge the difficulties that will be there with regard to that given what President Trump and the Department of the Treasury have already indicated. Are we looking at what the consequences...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (13 Feb 2025)

Paschal Donohoe: Any engagement with the new US Administration has been constrained by the fact that it is only making appointments at the moment. That has been the key issue. The new Secretary of the Treasury had his appointment ratified a number of weeks ago. Many of the other officeholders within the US Treasury, however, with whom both we and Europe will deal, are in the very early days of coming...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (13 Feb 2025)

Paschal Donohoe: I absolutely appreciate the value of the 9% hospitality rate and the help it can offer to the hospitality sector. I understand that 9% is the rate that can have the biggest effect. The timing of this relates to the fact that it will be a significant move. If a move is made - and my view is that when we decide the scope of that move, it should be concentrated on the food and catering...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (13 Feb 2025)

Paschal Donohoe: I understand the value of the 9% VAT rate. It is my intention to be able to deliver such a move, but such a move would entail a significant cost, which is why it needs to be part of the overall budget process. As to what that VAT rate will be applicable to, my view is that it can have the biggest impact on food and catering, as I made clear in my earliest answer to the Deputy. The...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Exchequer Returns (13 Feb 2025)

Paschal Donohoe: That is not the question the Deputy put to me. The question he put to me-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Exchequer Returns (13 Feb 2025)

Paschal Donohoe: No. Let us be clear. The question the Deputy put to me, which is the question I will answer initially - I will go on to clarify - reads: "To ask the Minister for Finance if he will outline Exchequer returns and tax receipts for January 2025 ... " That is the question that was put to me, and I will answer it. I am happy then to elaborate beyond that on the further points the Deputy has...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Exchequer Returns (13 Feb 2025)

Paschal Donohoe: The Deputy has been against every attempt to broaden the tax base. He is against all our attempts to do that. He is against carbon tax. He is against local property tax. I ask him not to stand up here and point out to me the dangers of a narrow tax base when he is against any efforts to widen it. He has been against our running budget surpluses, which are in place to deal with the very...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Sanctions (13 Feb 2025)

Paschal Donohoe: My Department, like finance Ministries elsewhere, is assessing the potential impact of tariffs on our economy. The assessment of our economic outlook, which will incorporate the latest developments in the global economy, will be set out in the spring forecast, which will be published in April. From an economic perspective, the US is our largest bilateral trading and investment partner....

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Sanctions (13 Feb 2025)

Paschal Donohoe: As I said to the Deputy, the analysis with regard to this is under way. Owing to the uncertain environment we are in, it is appropriate that a number of weeks be taken to do this work. That work will be concluded and published in April. On the imposition of tariffs under the first President Trump Administration, two learnings emerged. First, the EU did respond. The EU has indicated it...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Trade Sanctions (13 Feb 2025)

Paschal Donohoe: The Deputy put a set of questions to me and I answered them. She wanted to know whether we are particularly exposed to changes happening in global trade, and I said we are and outlined why. She asked if there is an analysis under way to consider risks we face. I confirmed there is, told the Deputy when it would be complete and told her how it would be published. That work is all under...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (13 Feb 2025)

Paschal Donohoe: As the Deputy will be aware, in making any decisions on VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. The programme for Government is clear. It commits us to introducing measures to support SMEs, in particular in the retail and hospitality sectors. It acknowledges the...

Written Answers — Department of Finance: Sport and Recreational Development (13 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 15 and 40 together. As the Deputy will be aware, the Programme for Government, Securing Ireland’s Future, includes a commitment to “Consider measures, in conjunction with the Department of Finance, to encourage gym membership and active participation in sport and exercise.” In line with best practice, proposals for the introduction of...

Written Answers — Department of Finance: Regulatory Bodies (13 Feb 2025)

Paschal Donohoe: The Central Bank has statutory responsibility for the regulation of mortgage lending by banks and other regulated entities. This is an important part of its independent mandate to preserve and protect financial stability. In line with this mandate, lenders have to meet regulatory requirements when providing mortgage credit to consumers. These regulatory requirements include the Central...

Written Answers — Department of Finance: Banking Sector (13 Feb 2025)

Paschal Donohoe: As you may be aware, on 28th January 2025, I announced the successful completion of the disposal of a further 5% of the State’s shareholding in AIB by way of an accelerated bookbuild. These are the key points relating to the recent share sale: The State’s shareholding in AIB has reduced by 5% from c. 17.5% to c. 12.5% following this transaction.The Placing price was...

Written Answers — Department of Finance: Agriculture Supports (13 Feb 2025)

Paschal Donohoe: There are a substantial range of tax measures in place which support farm succession. These include Capital Acquisitions Tax (CAT) agricultural relief, which is available on certain gifts and inheritances of agricultural property. The primary policy rationale for agricultural relief is to promote the intergenerational transfer of family farms and ensure they continue to be actively...

Written Answers — Department of Finance: Revenue Commissioners (13 Feb 2025)

Paschal Donohoe: The Deputy should note at the outset that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. Under EU law, generally only businesses that are registered for VAT and charge VAT on their supplies of goods and services are entitled to reclaim the VAT incurred on their business costs. In addition, the...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: We have noted the review process commenced in the US, and as ever we will engage constructively with the administration and with our partners in the EU and OECD. All taxes are considered annually as part of the Budgetary process and the Programme for Government 2025, Securing Ireland’s Future, commits the Government to maintaining a broad tax base to guard against the need for...

Written Answers — Department of Finance: Tax Code (13 Feb 2025)

Paschal Donohoe: The Deputy should note that I and the Government are conscious of the implications of fuel costs for all sectors of society. While taxation does affect the final retail price of fuel, a number of factors also contribute to the final cost including energy market dynamics, wholesale pricing, individual retail pricing policy, transport costs, and exchange rate fluctuations. The best way...