Results 6,061-6,080 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Customs and Excise (15 Feb 2022)

Paschal Donohoe: I am advised by Revenue that vehicles imported from Northern Ireland (NI), that were in NI prior to 1 January 2021, when the United Kingdom (UK) left the European Union (EU), are treated as EU goods and no customs formalities are required and VAT on import and Customs duty are not applicable. However, proof of the vehicle’s status in NI prior to 1 January 2021 will be required. For...

Written Answers — Department of Finance: Tax Code (15 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 285 and 286 together. The tax treatment of structural improvements and enhancements to rental properties is set out in sections 75, 97, 97A, 284 and 285A Taxes Consolidation Act 1997 (TCA). I am advised by Revenue that guidance as to whether those costs incurred should be treated as expenses or capital allowances when computing taxable profits, is provided...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Feb 2022)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support employment and maintain the link between the employer and employee insofar as is possible. The EWSS has been a key component of the Government’s response to the Covid-19 crisis. It is an economy-wide scheme that operates across all sectors. In money terms, the overall support provided to-date (10th February) by...

Written Answers — Department of Finance: Fuel Inspections (15 Feb 2022)

Paschal Donohoe: I am advised by Revenue that a multifaceted approach is taken to tackling the misuse of fuel. Revenue’s compliance activities in this area include roadside sampling of private and commercial vehicles at checkpoints combined with a risk-based, targeted sampling programme based on supply chain reporting obligations for suppliers and retailers. These activities leverage the benefits of...

Written Answers — Department of Finance: Tax Reliefs (15 Feb 2022)

Paschal Donohoe: Section 482 of the Taxes Consolidation Act 1997 allows for a reduction in certain circumstances in the amount of tax payable for an owner or occupier of: - an approved building, including surrounding garden - an approved building which is used for tourist accommodation - an approved garden - an approved object. The building, garden or object must be of a substantial scientific, historical,...

Written Answers — Department of Finance: Banking Sector (15 Feb 2022)

Paschal Donohoe: Officials from the Department of Finance were notified of the intention of the Special Liquidators to retire as partners of KPMG with effect from April 2023. The Department is engaging with the Special Liquidators and KPMG and has received strong assurances that there will be full continuity of service from the Special Liquidators and from KPMG to complete the special liquidation of...

Written Answers — Department of Finance: Brexit Issues (15 Feb 2022)

Paschal Donohoe: I am advised by Revenue that for goods being imported from a non-EU country into the State, VAT is payable at point of importation. Imported goods are liable to VAT at the same rate as applies to similar goods sold within the State. They also require a Customs import declaration which is made using Revenue’s Customs Automated Import System (AIS). VAT registered traders may take credit...

Written Answers — Department of Finance: Brexit Issues (15 Feb 2022)

Paschal Donohoe: I am advised by Revenue that across the European Union, electronic customs import declarations are required for all parcels / packages coming from non-EU countries including the UK. In addition, since 1 July 2021, the VAT exemption for imported goods with a value of €22 or less was removed. From that date, all goods arriving into the EU from non-EU countries, regardless of their value,...

Written Answers — Department of Finance: Tax Yield (15 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 293 and 294 together. It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. This is a well established and broadly accepted principle. Section 19 of the Taxes Consolidation Act (TCA) 1997, sets out that tax under Schedule E shall be charged in respect of every public office or...

Written Answers — Department of Finance: Insurance Industry (15 Feb 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, which is ultimately a commercial matter for each provider. As the Deputy will appreciate, I am also unable to comment on individual cases. Notwithstanding this, the Government recognises that the cost of insurance remains a significant...

Written Answers — Department of Finance: Tax Code (15 Feb 2022)

Paschal Donohoe: As the Deputy will be aware, the VAT rating of goods and services is subject to the requirements of the EU VAT Directive, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates...

Written Answers — Department of Finance: Banking Sector (15 Feb 2022)

Paschal Donohoe: When a person applies for a mortgage loan to buy a home, the person will generally be required to take out mortgage protection insurance. In most cases, a lender is legally required under section 126 of the Consumer Credit Act 1995 to make sure that a mortgage applicant has mortgage protection insurance in place before granting a mortgage loan. This is an important statutory provision...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Feb 2022)

Paschal Donohoe: Article 13 of the Recovery and Resilience Facility Regulation provided for pre-financing. This allowed Member States to request early disbursement of funding up to a maximum of 13% of their overall allocation. For Ireland, this would have amounted to pre-financing of €129 million from our overall allocation of €915 million. The level of pre-financing available to Member...

Written Answers — Department of Finance: Environmental Impact Assessments (15 Feb 2022)

Paschal Donohoe: With regards to the sale and purchase of cryptocurrencies, it has always been my intention that any regulation in this space would be adequate, proportionate and comprehensive without discouraging innovation. In September 2020, the European Commission published the Digital Finance Package containing measures which aim to enable and support the development of digital finance while mitigating...

Written Answers — Department of Finance: Credit Register (15 Feb 2022)

Paschal Donohoe: The Central Credit Register (CCR) was established by the Central Bank under the Credit Reporting Act 2013. The obligations under the Act apply only to Credit Information Providers (lenders). Lenders are obliged to submit personal and credit information on credit applications and credit agreements which amount to €500 or more to the CCR. Lenders are also obliged to enquire on the...

Written Answers — Department of Finance: Tax Reliefs (15 Feb 2022)

Paschal Donohoe: The Government acknowledges the continuing high cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are already in place to ease the burden on working parents. These include various tax-exempted child-care related supports provided by the Minister for Children, Equality, Disability, Integration and Youth and...

Written Answers — Department of Finance: Tax Yield (15 Feb 2022)

Paschal Donohoe: The full yields for carbon tax revenue for the years in question are set out in the table below: Year Carbon Tax Revenue (VAT exclusive) 2017 €419,603,362 2018 €431,131,924 2019 €430,461,735 2020 €493,572,969 2021 ...

Written Answers — Department of Finance: Tax Code (15 Feb 2022)

Paschal Donohoe: I propose to take Questions Nos. 303 and 304 together. As the Deputy is aware, I introduced a Committee stage amendment to section 604 of the Taxes Consolidation Act 1997 in the 2021 Finance Act which provides that where an individual disposes of their principal primary residence by way of a lottery or game with prizes, any gain over the market value of the property is subject to Capital...

Written Answers — Department of Finance: Tax Reliefs (15 Feb 2022)

Paschal Donohoe: Section 473A of the Taxes Consolidation Act 1997 provides for income tax relief in respect of qualifying tuition fees paid by an individual for a third level education course (including a postgraduate course), subject to the conditions set out in that section. The relief is granted at the standard rate of income tax (currently 20%), where an individual pays “qualifying fees” for...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 Feb 2022)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support employment and maintain the link between the employer and employee insofar as is possible. The EWSS has been a key component of the Government’s response to the Covid-19 crisis. It is an economy-wide scheme that operates across all sectors. In money terms, the overall support provided to-date (3rd February) by...