Results 6,281-6,300 of 32,433 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (16 Dec 2021)

Paschal Donohoe: The commitment to a vacant property tax is clear in Housing for All. The 2018 Indecon report reflected the housing market as it stood then but we are now in a situation where we need to make even more urgent use of properties and land available for housing and accommodation purposes. That is why the Housing for All strategy contains a different commitment to the introduction of a vacant...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (16 Dec 2021)

Paschal Donohoe: I completely reject any claims that the information and guidance my officials prepare for me is in any way massaged or in any way excludes important information that I need to make decisions. I receive full, impartial and comprehensive input and advice from my officials on this and every other matter. The information notes I receive and the evaluations that are given to me are part of how...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: The Government's strategy, ‘Housing For All’ states that my Department will collect data on vacancy with a view to introducing a Vacant Property Tax. The Finance (Local Property Tax) (Amendment) Act 2021 has accordingly enabled Revenue to collect certain information on vacant properties in the LPT return forms submitted by residential property owners last month in respect of...

Written Answers — Department of Finance: Insurance Industry (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 103, 150 and 152 together. Insurance reform is a key priority for this Government as evidenced by the fact that implementation of the Action Plan is overseen by the Cabinet Sub-Group on insurance reform, chaired by the Tánaiste. A significant landmark of the ongoing reforms is the establishment of the Office to Promote Competition in the Insurance...

Written Answers — Department of Finance: Consumer Prices (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 104 and 107 together. The Government is very conscious of the recent spike in consumer price inflation, which reached 5.4 per cent in November. This, of course, is not unique to Ireland, with the majority of advanced economies recording relatively high rates of price inflation in recent months. That said, it is worth pointing out that this comes after...

Written Answers — Department of Finance: Tax Data (16 Dec 2021)

Paschal Donohoe: The Finance (Local Property Tax) (Amendment) Act 2021 provided for a revaluation of properties to form the basis of the Local Property Tax (LPT) charge from 2022. LPT for the years 2022 to 2025 will be based on property values on 1 November 2021. It is important to note that LPT is a self-assessment tax and it is the responsibility of each owner to value his or her property. While Revenue...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

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. The VAT Directive obliges each Member State to have a standard rate of VAT and also allows that a Member State may choose to have no more than two reduced rates of VAT, which may be no less than 5%, and which may be applied to certain goods and...

Written Answers — Department of Finance: Tax Credits (16 Dec 2021)

Paschal Donohoe: The 2009 Commission on Taxation reviewed the One-Parent Family Tax Credit. It acknowledged that the credit played a role in supporting and incentivising the labour market participation of single and widowed parents but recommended that the credit should be allocated to the principal carer of the child only. The One-Parent Family Tax Credit was replaced by the Single Person Child Carer...

Written Answers — Department of Finance: Personal Injury Claims (16 Dec 2021)

Paschal Donohoe: The implementation of the new Personal Injuries Guidelines is a significant milestone in the insurance reform agenda, which should lead to reduced claims costs for insurers. The Government is committed to holding insurers to account and ensuring that consumers experience the benefits from the range of measures being implemented under the Action Plan for Insurance Reform. As the Deputy will...

Written Answers — Department of Finance: Banking Sector (16 Dec 2021)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and decisions in relation to the provision of bank statements are made by the boards and management of individual banks. I am advised by the Central Bank that Chapter 6 of the Consumer Protection Code 2012 ‘Post-sale Information Requirements’ sets out the requirements that regulated entities must follow...

Written Answers — Department of Finance: Revenue Commissioners (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 112 and 142 together. The Deputy will be aware, in accordance with section 101 of the Ministers and Secretaries (Amendment) Act 2011, the Revenue Commissioners are independent in the performance of their functions under, or for the purposes of, the laws governing taxation. Furthermore, all taxpayers have rights of appeal under tax law against assessments...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 113, 159, 249 and 250 together. 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...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 114 and 132 together. The rate of Residential Zoned Land Tax is set at 3% on its commencement in 2024. I have chosen this rate as I believe great care needs to be taken to get the balance right between it achieving its essential purpose of encouraging the release of land for housebuilding purposes, but at the same time not being too penal, so that it runs...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Dec 2021)

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 monetary terms, the overall support provided to-date (9th December) by...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. Under the EU VAT Directive and Irish VAT legislation the supply of motor fuel, specifically petrol and diesel, is liable to VAT at the standard rate, currently 23%. The Deputy should also note that petrol and diesel are treated...

Written Answers — Department of Finance: Vehicle Registration Tax (16 Dec 2021)

Paschal Donohoe: The 2020 Finance Act overhauled the structure of rates for vehicle registration tax (VRT) to strengthen the environmental rationale of the tax in line with Government policy to radically reduce emissions from road transport. The rate changes provided for in the Finance Bill 2021 reinforce this progress by increasing the fiscal gap between low emission vehicles and the rest, thus incentivising...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: As the Deputy may recall, I previously asked my Department to undertake a comprehensive study of all aspects of the 9% VAT rate ahead of Budget 2019. The “Review of the 9% VAT rate: Analysis of Economic and Sectoral Developments” was published by my Department in July 2018, in order to better inform any decision in relation to the 9% reduced rate going forward. In addition to...

Written Answers — Department of Finance: Credit Unions (16 Dec 2021)

Paschal Donohoe: The Programme for Government includes a number of commitments in relation to the credit union sector. As part of the Review of the Policy Framework, Minister Fleming conducted extensive stakeholder engagement, meeting with the representative bodies, collaborative ventures, service providers, the Credit Union Advisory Committee, the Registrar of Credit Unions and individual credit unions. The...

Written Answers — Department of Finance: Tax Code (16 Dec 2021)

Paschal Donohoe: Where a person is allowed the free use of property, section 40 of the Capital Acquisitions Tax Consolidation Act 2003 provides that the person has taken a gift in each year that they have that free use. The value of the gift is calculated by reference to the difference between any consideration paid by the beneficiary for the use of the property and the “best price obtainable in the...

Written Answers — Department of Finance: Economic Growth (16 Dec 2021)

Paschal Donohoe: Due to the success of our vaccination programme earlier this year, restrictions were eased with the domestic economy recovering strongly as a result. Modified Domestic Demand (MDD) – the best measure of domestic economic activity now exceeds the level immediately preceding the pandemic (2019-Q4) by around 3 per cent. Improvements can also be seen in the labour market with the...