Results 601-620 of 32,429 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Film Industry (13 Feb 2025)

Paschal Donohoe: In relation to employment rights of film workers, the Deputy will be aware that changes were made to the film tax credit to reinforce the requirement to adhere to employment rights legislation. As part of the cultural certification process, an applicant company is required to submit an undertaking of compliance with all relevant employment legislation in relation to the film being certified....

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

Paschal Donohoe: The term “Exchange Traded Fund” or “ETF” is a general investment industry term that refers to a wide range of investments. They are investment fund products that are traded on a regulated stock exchange, with a typical ETF comparable to a tracker fund in that it will seek to replicate a particular index. ETF investments can take many different legal and regulatory...

Written Answers — Department of Finance: Climate Change Policy (13 Feb 2025)

Paschal Donohoe: As the Deputy will know, International Climate Finance plays a critical role in addressing the multifaceted challenges of the climate crisis, representing a crucial instrument in global adaptation and mitigation efforts. Consequently, it remains a key priority for this Government, which intends to follow on from the previous Government’s substantial progress in scaling up its...

Written Answers — Department of Finance: Housing Policy (13 Feb 2025)

Paschal Donohoe: A sustainable funding landscape for housing development requires diverse pools of capital, with each playing a complementary role in the funding ecosystem. This will include development funding from our domestic banks, non-bank and alternative lenders, institutional investors, private equity providers and State sources, working together to deliver homes of all tenure types at the scale we...

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

Paschal Donohoe: I am advised by Revenue that Schedule D of the Taxes Consolidation Act 1997 sets out various cases under which taxes are charged. Income earned from the provision of short-term accommodation for occasional visitors, such as through an online accommodation booking system, is not considered rental income under Case V and is instead taxable as: - Case IV (other income) where the income is...

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

Paschal Donohoe: The Government recognises the difficulties that the increase in interest rates in recent years has caused for some mortgage borrowers. The ECB is responsible for the formulation and implementation of official interest rates. Changes in official rates feed into the general level of interest rates throughout the economy, but in a market economy the determination of retail and business lending...

Written Answers — Department of Finance: Credit Unions (13 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 28, 49 and 57 together. The Government acknowledges credit unions as community centric financial institutions integral to their local communities, small businesses and farmers. This Government has a dedicated Minister for Financial Services, Credit Unions and Insurance, Minister Robert Troy T.D. The Government has a multi strand approach to help support...

Written Answers — Department of Finance: Insurance Industry (13 Feb 2025)

Paschal Donohoe: The previous Action Plan for Insurance Reform, published in 2020, delivered significant achievements, most notably the rebalancing of the Duty of Care, reforming the Injuries Resolution Board and the introduction of new Personal Injury Guidelines. In addition, in part due to the more attractive operating environment here, new competitors such as OUTsurance, Revolut and Fastnet have entered...

Written Answers — Department of Finance: Departmental Priorities (13 Feb 2025)

Paschal Donohoe: My officials are undertaking a number of actions in the effort to fight payment fraud, at both the national and EU level. Firstly, my officials are working on transposing the Instant Payments Regulation. Besides its requirement to provide “instant” payments, the Regulation also requires the provision of an IBAN/name check, which will apply to both instant payments and...

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

Paschal Donohoe: I propose to take Questions Nos. 31 and 32 together. Ireland was among almost 140 jurisdictions that signed up to a political agreement in October 2021, through the OECD/G20 Inclusive Framework on BEPS, on a new tax framework to address the tax challenges arising from the digitalisation of the economy. Pillar Two of the agreement provided for the adoption of a new global minimum...

Written Answers — Department of Finance: Credit Unions (13 Feb 2025)

Paschal Donohoe: I thank the Deputy for his question. The credit union sector is an important contributor to the housing market in the area of house lending and investment in social and affordable housing via the Credit Union Approved Housing Body (AHB) Fund. This is in addition to the provision of personal loans to fund home improvements and retrofit schemes. Credit union house lending has increased...

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

Paschal Donohoe: I am aware that on January 20th 2025 Oxfam International produced a new report entitled “Takers not Makers: The unjust poverty and unearned wealth of colonialism” which highlights issues concerning wealth inequality. In its associated Press Release, Oxfam Ireland called for the Government to introduce "a flat rate tax of 1.5% on all net wealth above €5 million or a...

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

Paschal Donohoe: I propose to take Questions Nos. 35 and 48 together. The Central Bank of Ireland is the competent authority under the Prospectus Regulation. My officials have consulted the Central Bank and they indicated by way of response that the law is clear on the matter. The Central Bank has to approve a prospectus for the offer of securities to the public where it meets the required standards of...

Written Answers — Department of Finance: Departmental Schemes (13 Feb 2025)

Paschal Donohoe: Under the previous Government, the National Disability & Inclusion Strategy or NDIS Transport Working Group recommended that the Disabled Driver Scheme or DDS be replaced with a modern, fit-for-purpose vehicular adaptation scheme. This is in line with the general view that we need to move away from a medical criteria-based approach to a needs-based approach. Under the aegis of the...

Written Answers — Department of Finance: Insurance Industry (13 Feb 2025)

Paschal Donohoe: As Minister for Finance, I acknowledge the enormous damage caused by Storm Éowyn, and the impact it has had on families, communities, and businesses. In the aftermath of Storm Éowyn, my officials wrote to Insurance Ireland on my behalf on 28 January reiterating Government’s expectation that insurance companies should treat policyholders fairly and expediently in the context...

Written Answers — Department of Finance: Irish Stock Exchange (13 Feb 2025)

Paschal Donohoe: Ireland’s equity markets are diverse comprising of both public and private equity market participants and a wider ecosystem which includes a large number of professional services companies. The growing importance of large stock market indices linked to the rise in passive investment strategies has been a pull factor in listings activity gravitating towards the largest stock...

Written Answers — Department of Finance: Insurance Industry (13 Feb 2025)

Paschal Donohoe: Firstly, I wish to reassure the Deputy that I recognise the concerns felt by many consumers and businesses across various sectors around the cost and availability of insurance cover. As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, I wish to highlight the...

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

Paschal Donohoe: The same consumer protection framework applies to all Central Bank regulated entities, be that a bank, a retail credit firm or a credit servicing firm. From a regulatory perspective the Central Bank has put in place a range of measures in order to protect consumers. This framework seeks to ensure that regulated entities are transparent and fair in all their dealings with borrowers and that...

Written Answers — Department of Finance: Housing Policy (13 Feb 2025)

Paschal Donohoe: The Housing Unit in my Department is responsible for the provision of analysis and support on housing-related issues to the wider department, in particular in relation to the delivery of Housing for All. The unit ensures developing trends in the sector, including data on planning permissions, commencements and completions, are monitored and evaluated. The unit provides input and advice to...

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

Paschal Donohoe: On 22 October 2024, following Government approval, my predecessor published a report, entitled ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’, following wide-ranging review of the funds and asset management sector. The Review fulfilled two of the recommendations of the Commission on Taxation and Welfare 2022 report, including that mentioned by...