Results 6,001-6,020 of 32,433 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Credits (8 Feb 2022)

Paschal Donohoe: As with all tax expenditures, the R&D tax credit is regularly evaluated to assess its continuing relevance and impact. In line with my Department’s Tax Expenditure Guidelines, an evaluation of the R&D tax credit took place over 2019 and 2020. This evaluation, as part of its scope, examined the interaction between SMEs and the credit and looked at elements of the...

Written Answers — Department of Finance: Housing Schemes (8 Feb 2022)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. I am advised by Revenue that detailed statistics on the Help to Buy...

Written Answers — Department of Finance: Primary Medical Certificates (8 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: Tax Code (8 Feb 2022)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. The legislation governing the HTB scheme is set out in section...

Written Answers — Department of Finance: Tax Yield (8 Feb 2022)

Paschal Donohoe: The revenue raised from Carbon Tax from 2017 to 2021 is set out in the table below. Please note that figures for 2021 are provisional. Year Carbon Tax Revenue (VAT exclusive) 2017 €419,603,362 2018 €431,131,924 2018 €430,461,735 2020 €493,572,969 ...

Written Answers — Department of Finance: Departmental Schemes (3 Feb 2022)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the...

Written Answers — Department of Finance: Mortgage Resolution Processes (3 Feb 2022)

Paschal Donohoe: The Central Bank has advised that, where a mortgage loan is sold or transferred from one regulated entity to another regulated entity, the rights and protections that were available to borrowers prior to the transaction continue to be in place with the new owner. Accordingly, consumers maintain the regulatory protections which are available under the various Central Bank statutory Codes...

Written Answers — Department of Finance: Banking Sector (3 Feb 2022)

Paschal Donohoe: As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard, including the management of branch premises, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The...

Written Answers — Department of Finance: Tax Code (3 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: Tax Code (2 Feb 2022)

Paschal Donohoe: I am advised by Revenue that electronic Customs import declarations are now required for all parcels / packages coming from non-EU countries including those coming through the postal system regardless of the value of the goods being sent. Since 1 July 2021, all goods imported to the Union, regardless of their value, are liable to VAT. In addition, all goods valued at €150 or more may...

Written Answers — Department of Finance: Tax Code (1 Feb 2022)

Paschal Donohoe: Revenue’s role in relation to the supply of taxable solid fuels in the State lies in the collection of Solid Fuel Carbon Tax (SFCT) and VAT. Solid fuel (coal and peat) is liable to excise duty in this jurisdiction in the form of Solid Fuel Carbon Tax (SFCT), which is a national excise that applies at different rates to four categories of solid fuel: coal, peat briquettes, milled...

Written Answers — Department of Finance: Tax Code (1 Feb 2022)

Paschal Donohoe: As part of the overall agreement on the Post-2020 Multiannual Financial Framework (MFF) and Next Generation EU (NGEU), EU leaders made a number of changes to the current system of own resources, including the introduction of a plastic based contribution based on non-recycled plastic packaging. The plastic based contribution is calculated on the weight of non-recycled plastic packaging...

Written Answers — Department of Finance: Insurance Industry (1 Feb 2022)

Paschal Donohoe: Insurance reform is a key priority for this Government. As the Deputy is aware, we have established the Cabinet Committee Sub-Group on Insurance Reform, chaired by the Tánaiste, which is overseeing the implementation of the Action Plan for Insurance Reform. This ambitious plan sets out 66 actions to help bring down the cost of insurance; introduce more competition into the market;...

Written Answers — Department of Finance: Credit Unions (1 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 and we intend to issue proposals emanating from the Review for consultation shortly. As part of the Review of the Policy Framework, Minister of State Fleming has conducted extensive...

Written Answers — Department of Finance: Tax Code (1 Feb 2022)

Paschal Donohoe: Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, which in Ireland is 23%. Parts or accessories are also liable to VAT at the standard rate. There is no provision under existing VAT law that would make it possible to apply a reduced rate or zero rate to the supply of such products. Under the EU VAT Directive, Member States may retain the zero...

Written Answers — Department of Finance: Insurance Industry (1 Feb 2022)

Paschal Donohoe: At the outset, I wish to acknowledge the valuable service provided by Cardiac First Responder (CFR) volunteers throughout the country. However, it is important to note that 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...