Results 6,201-6,220 of 33,883 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (12 Jul 2022)

Paschal Donohoe: Section 481 provides relief in the form of a corporation tax credit related to the cost of production of certain films. The scheme is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and supporting the expression of the Irish culture. Finance Act 2018 introduced a short-term, tapered regional uplift for...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: Addressing vacancy and dereliction, and maximising the use of the existing housing stock, is a priority objective of the Government. Housing for All includes a specific action for the Department of Finance to collect data on vacancy with a view to introducing a vacant property tax. Provisions included in the Finance (Local Property Tax) (Amendment) Act 2021 enabled Revenue to collect certain...

Written Answers — Department of Finance: Tax Credits (12 Jul 2022)

Paschal Donohoe: I am informed by Revenue that the home carer tax credit can be claimed by couples who are married or in a civil partnership and have elected to be jointly assessed to tax, where either spouse or civil partner, the ‘home carer’, cares for one or more dependent persons. A dependent person includes an individual who, at any time in the year of assessment, is: - a child in...

Written Answers — Department of Finance: Departmental Schemes (12 Jul 2022)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) set against the purchase and use of an adapted car, and for transport of a person with specific severe and permanent physical disabilities. The Scheme also provides payment of a Fuel Grant, and an exemption from Motor Tax. Certain other qualifying criteria apply in...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: I propose to take Questions Nos. 312 and 313 together. As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However, the Deputy should note that section 7 of Annex III of the VAT Directive provides that the reduced rate of VAT may be applied by...

Written Answers — Department of Finance: Tax Yield (12 Jul 2022)

Paschal Donohoe: I am advised by Revenue that Carbon Tax receipts arising from the increases on 12 October 2022, 1 May 2023 and 12 October 2023 in 2022 and 2023 are estimated at €17.6m and €135.7m respectively. In addition some €1.7m and €14.5m in VAT is estimated for 2022 and 2023 respectively, arising from the carbon tax increases. Revenue from legislated increases to the...

Written Answers — Department of Finance: Budget 2023 (12 Jul 2022)

Paschal Donohoe: I understand that an extensive list of tax expenditure measures with end-2022 sunset clauses in legislation was made available to the Committee on Budgetary Oversight in recent weeks. I am advised that the majority are costed at less than €15 million. Of the larger tax expenditures, measures such as the Help To Buy scheme and the reduced rate of USC for medical card holders are set to...

Written Answers — Department of Finance: Tax Data (12 Jul 2022)

Paschal Donohoe: I am informed by Revenue that traders are not required to identify the VAT yield generated from the supply of specific services on their VAT returns. Therefore, it is not possible to provide an accurate costing for the potential measures outlined. However, a tentative estimate using the most currently available third-party data would be in the region of €88m. In-year policy measures do...

Written Answers — Department of Finance: Summer Economic Statement (12 Jul 2022)

Paschal Donohoe: I propose to take Questions Nos. 317 and 318 together. My Department produces two sets of macroeconomic and fiscal projections each year, both aligned with the European budgetary cycle. Forecasts have not been updated since the spring forecasts, as set out in the Stability Programme Update (SPU). That said, the Summer Economic Statement (SES) indicated that momentum in the domestic economy is...

Written Answers — Department of Finance: Departmental Contracts (12 Jul 2022)

Paschal Donohoe: I wish to advise the Deputy that my Department and bodies under the aegis of my Department have incurred the following costs with the companies mentioned since January 2020 to date. Carr Communications (ex VAT) Kinzen.com Department of Finance €3,087 €0 Central Bank of Ireland €23,950...

Written Answers — Department of Finance: Financial Services (12 Jul 2022)

Paschal Donohoe: The Central Bank of Ireland is the independent regulator of credit institutions and other regulated financial service providers. However, it is not possible for the Minister for Finance, nor the Central Bank in carrying out its regulatory functions to advise or comment on the management of loans (and/or the treatment of any security which may be associated with a loan) by regulated entities...

Written Answers — Department of Finance: Tax Exemptions (12 Jul 2022)

Paschal Donohoe: The general position is that all tax expenditures and reliefs, including measures of the type mentioned by the Deputy, fall to be considered as part of the annual Budget and Finance Bill process. The tax code provides for a number of tax credits and reliefs for those aged 65 and over. The current age exemptions limits mean that single, widowed or surviving civil partners aged 65...

Written Answers — Department of Finance: Tax Reliefs (12 Jul 2022)

Paschal Donohoe: As the Deputy will be aware, with effect from 1 January 2009, relief in respect of qualifying health expenses, with the exception of relief in respect of nursing home expenditure, has been granted at the standard rate of tax. Prior to that date, the relief was available at the taxpayer's marginal rate. The rationale for standardising health expenses relief was to widen the tax base and bring...

Written Answers — Department of Finance: State Claims Agency (12 Jul 2022)

Paschal Donohoe: I am informed that the SCA has received 90 claims, to date, in respect of COVID-19. These claims relate to service users, staff members and members of the public across delegated state authorities. I understand that the SCA does not, for litigation sensitivity reasons, disclose its contingent liability figures for a particular series or cohort of similar claims.

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: I propose to take Questions Nos. 325 and 326 together. As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. It is possible for Ireland to apply the 9% reduced VAT rate to the supply and construction of housing, as part of a social policy and...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: The Local Property Tax (LPT) was introduced in 2013 to provide a stable and sustainable funding base for local authorities and is a significant base-broadening measure. LPT has yielded over €4 billion for Local Authorities since its introduction. All property owners benefit from the essential local services LPT helps to fund. The proper functioning of these services is important...

Written Answers — Department of Finance: Tax Reliefs (12 Jul 2022)

Paschal Donohoe: I propose to take Questions Nos. 328 and 329 together. I am advised by Revenue that the estimated cost of tax relief for health expenses and the estimated cost of medical insurance relief is included in the ‘Costs of Tax Expenditures Publication’(Credits, Allowances and Reliefs), which is available at the following link:...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD prescribes minimum tax rates for fuel with which all Member States must comply. ETD provisions on mineral oils are transposed into national law in Finance Act 1999 (as amended) and this Act provides for the application of excise...

Written Answers — Department of Finance: Housing Schemes (12 Jul 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 on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: On 8 October 2021, members of the OECD/G20 Inclusive Framework on BEPS agreed to the statement on the ‘Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy’. Pillar 2 introduces a global minimum corporate tax rate of 15 per cent. My Department and the Revenue Commissioners previously estimated that the cost of this agreement could be...