Results 5,981-6,000 of 32,547 for speaker:Paschal Donohoe

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

Paschal Donohoe: My Department carried out a review of the age limits applicable to four agri-tax reliefs last year. The findings of this review are set out as part of the Report on Tax Expenditures 2021 which was published on 12th October on the Gov.ie website as part of the package of papers associated with Budget 2022. The four agri-tax reliefs/tax credits covered, where...

Written Answers — Department of Finance: Customs and Excise (22 Feb 2022)

Paschal Donohoe: I am advised by Revenue that the provisions for the relief of Customs Duty and VAT for gifts sent from one private individual in a non-EU country to another private individual in Ireland are set out in European legislation and it is not a matter on which Ireland can determine or apply separate provisions. The relief for gifts is agreed and harmonised at EU level and the provisions are common...

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. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States...

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

Paschal Donohoe: The objective of the Pan-European Personal Pension Product Regulation is to lay the foundations for a safer, more cost-efficient and transparent market in affordable and voluntary personal pension savings that can be managed on a pan-European scale. It is envisaged that the PEPP framework will constitute a complementary voluntary scheme alongside national regimes. The European Commission...

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

Paschal Donohoe: I propose to take Questions Nos. 238 and 239 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 driver or as...

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

Paschal Donohoe: 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 driver or as a passenger and also to certain organisations. In order...

Written Answers — Department of Finance: Departmental Advertising (22 Feb 2022)

Paschal Donohoe: I can advise the Deputy that the Department of Finance has no record of any payments for advertisements or content in the publication mentioned.

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

Paschal Donohoe: It is my understanding that the Deputy is referring to section 192A of the Tax Consolidation Act 1997, which deals with exemptions in respect of certain payments made by employers to employees arising from claims under employment law.  Section 192A provides that compensation payments made to an employee will be exempt from income tax, universal social charge and PRSI in instances...

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

Paschal Donohoe: I propose to take Questions Nos. 244 and 250 together. As the Deputies will be aware, the EU Commission published a proposal on the reform of VAT rates in January 2018 which would allow Member States more flexibility in how they apply VAT rates. The compromise text agreed at ECOFIN in December has been amended significantly in comparison to the original proposal so the EU...

Written Answers — Department of Finance: Universal Social Charge (22 Feb 2022)

Paschal Donohoe: The 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 steady income to the Exchequer to provide funding for public services. The USC is an individualised tax, meaning that a person’s liability to the tax is determined on the basis...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 Feb 2022)

Paschal Donohoe: In relation to Covid-19 support schemes under the aegis of my Department, I am advised by Revenue that  the total cost of the Covid Restrictions Support Scheme (CRSS) as of 17 February is €727m which has been paid in  respect of 25,600 premises. In terms of the Employment Wage Subsidy Scheme (EWSS), currently 24,900 employers are registered with Revenue...

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

Paschal Donohoe: As stated in my reply to the Deputy on 16 December last, as the Special Assignee Relief Programme (SARP) sunsets this year, there will be an opportunity for review. Any decisions on the future of SARP arising from this review will be taken in the context of the Budget 2023 and Finance Bill 2022 processes. With regard to the total cost to the Exchequer of...

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

Paschal Donohoe: The Programme for Government includes a number of commitments in relation to the credit union sector.  Work on the Review of the Policy Framework is well advanced. We intend to discuss proposals emanating from the Review with representative bodies in the next few weeks. As part of the Review of the Policy Framework, Minister of State Fleming has...

Written Answers — Department of Finance: Departmental Data (22 Feb 2022)

Paschal Donohoe: In accordance with the Irish Collective Asset-management Vehicle ('ICAV') Act 2015, the Central Bank of Ireland is the registration body for ICAVs.  The Central Bank  of Ireland is also the authorisation body for Alternative Investment Funds (AIFs) and Undertakings for Collective Investment in Transferable Securities (UCITS). ICAVs must be registered as ICAVs and authorised as AIFs...

Written Answers — Department of Finance: Revenue Commissioners (22 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 252 and 253 together. Revenue has advised me that over 820,000 PAYE taxpayers have filed income tax returns for 2020 and approximately 480,000 have done so for 2021. It is not possible to definitively confirm the number of PAYE taxpayers who have yet to file their returns for 2021 as in many cases they pay the correct tax throughout the year and are not...

Written Answers — Department of Finance: Housing Schemes (22 Feb 2022)

Paschal Donohoe: I am advised by Revenue that there were 26,025 Help-to-Buy (HTB) applications made in 2021.   Applications for HTB may be made on a provisional basis as first time buyers will want to have certainty as to their entitlements in advance of commencing the purchase of a property. An application will only progress to the final ‘claim’ stage when the applicant decides to purchase...

Written Answers — Department of Finance: Covid-19 Pandemic (22 Feb 2022)

Paschal Donohoe: By the third quarter last year, both output and employment had exceeded pre-pandemic levels, a remarkable outcome that speaks to the success of the Government’s economic policies, which protected incomes, jobs and businesses. It is important to note however that the Covid-19 shock has had a disproportionate and negative impact on certain sectors, in particular on labor-intensive...

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

Paschal Donohoe: I am aware that the general level of new lending interest rates in Ireland are higher than is the case in many other European countries. However, the price lenders charge for their loans is a commercial matter for individual lenders.  As Minister for Finance I cannot determine the lending policies of individual banks including the interest rates they charge for loans including mortgages,...

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

Paschal Donohoe: As the Deputy will be aware, Budget 2022 included a significant tax package amounting to a cost of €520 million.    This included a substantial income tax package comprising of an increase of €50 in each of the main tax credits – personal tax credit, employee tax credit and the earned income credit – from €1,650 to €1,700.  An...

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

Paschal Donohoe: The Department of Finance does not provide any grants for the purchase of a vehicle but instead administers the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme which provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a Fuel Grant, and an...