Results 6,921-6,940 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Collection (19 Jan 2022)

Paschal Donohoe: Following engagement with the Deputy’s Office, I am advised that the Deputy’s Question specifically relates to PAYE taxpayers. On that basis, it should be noted that PAYE taxpayers can claim a range of additional tax credits and reliefs in respect of various expenses incurred during a tax year.  The most common of which are health expenses, nursing home fees, tuition...

Written Answers — Department of Finance: Tax Code (19 Jan 2022)

Paschal Donohoe: The Programme for Government includes a commitment to facilitate and support remote working. The National Remote Work Strategy aims to make remote work a permanent feature of the Irish working experience in a way that maximises the economic, social and environmental benefits. As part of the national remote working strategy: Making Remote Work, the Tax Strategy Group (TSG) reviewed the...

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2022)

Paschal Donohoe: The Deputy will be aware that section 604A of the Taxes Consolidation Act, 1997 provides for relief from Capital Gains Tax (CGT) on the disposal of certain investment property purchased between 7 December 2011 and 31 December 2014, where that property is held for  7 years. The gain attributed to that 7-year period will not attract CGT. However, where the property is held for more than 7...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (19 Jan 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.   The eligibility criteria for Employment Wage Subsidy...

Written Answers — Department of Finance: Insurance Industry (19 Jan 2022)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, have any influence over the pricing or provision of insurance products, as this is a commercial matter assessed on a case-by-case basis. This position is reinforced by the EU legislative framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct...

Written Answers — Department of Finance: Mortgage Interest Rates (19 Jan 2022)

Paschal Donohoe: I am aware that the general level of new lending interest rates in Ireland are higher than is the case in many other European countries. However, the price lenders charge for their loans is a commercial matter for individual lenders.  As Minister for Finance I cannot determine the lending policies of individual banks including the interest rates they charge for loans including...

Written Answers — Department of Finance: Departmental Consultations (19 Jan 2022)

Paschal Donohoe: On 23rdNovember last, I announced the Terms of Reference for the Retail Banking Review. On the same date, I wrote to the Chair of the Committee on Finance, Public Expenditure and Reform, and Taoiseach, Mr. John McGuinness T.D., informing him of the review and its Term of Reference and inviting any contributions the Committee or Members may wish to make at any time throughout the course...

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

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide scheme that operates across all sectors for eligible businesses in respect of eligible employees. The objective of the 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. In...

Written Answers — Department of Finance: Public Sector Staff (19 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 361, 362 and 363 together. I wish to inform the Deputy that none of the non-commercial State Agencies under the remit of my Department are located in, nor have public sector workers employed in roles that are based in, County Clare. Therefore, there were no public sector workers under the remit of my Department employed in any local electoral areas in County...

Written Answers — Department of Finance: Pension Provisions (19 Jan 2022)

Paschal Donohoe: The Deputy is asking whether early drawdown of pension funds is allowed in certain circumstances, such as leaving employment or changing professions. The main purpose of a pension fund is to provide a secure income in retirement for the pension beneficiary. The purpose of providing tax relief for pension contributions is to encourage saving - by employers, employees and the self-employed -...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (19 Jan 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 (13th January) by...

Written Answers — Department of Finance: Banking Sector (19 Jan 2022)

Paschal Donohoe: The Central Bank of Ireland is the statutory body with responsibility for the supervision of regulated financial service providers in an Irish context and I consider any potential supervisory issues as matters proper to the Central Bank. Likewise in the United Kingdom, the statutory bodies with responsibility for the supervision of regulated financial service providers such as the...

Written Answers — Department of Finance: Departmental Schemes (19 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 367, 368 and 369 together. 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...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: I thank the Chair. I offer best wishes to everyone on the committee for the new year. I thank the committee for its invitation to attend. I will make some opening points on the reasons for the invitation. I will not go through my statement in full but pick out a few key points so that we can move to a discussion. I am joined by my officials Mr. Joe Cullen, principal officer with...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: We gave consideration as to whether further conditionality would be merited for access to the scheme, beyond where we were with turnover and tax compliance. I decided when we were introducing the employment wage subsidy scheme, EWSS, that this would not be appropriate. The reason was that I anticipated a very low level of dividend payments, if any, being made across the period. I also had...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: No, it was for different reasons. The first one was that at that point in time we had the reasons the Deputy might well imagine. There was a very low expectation of dividends being paid in the first place. This is because at each point we revised the EWSS we were doing so at moments of great economic difficulty. We moved the temporary wage subsidy scheme, TWSS, into the EWSS because of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: As I have said before, it is not in the spirit of the way in which the scheme was both launched and the way in which the overwhelming majority of employers have been complying with it. However, I will only make changes with the scheme if I am confident it does not interfere with the retention of employment, and profitability is important for the retention of employment given my intention to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: I do not currently have any evidence of this being breached either in a conspicuous or very broad way. Again, it is possible there would be businesses that were on this scheme that may have given some wage increases to some people who work there during the duration but it is unlikely.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: It is something we will give consideration to. I await the outcome of the hearing the Deputy has made reference to before I give any further consideration to what could be done at that point. The measures I am committed to bringing in are ones that overall will increase transparency and information on the matter. I will consider whether further action is needed at the conclusion of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Covid-19 Payments and the Sale of AIB shares: Minister for Finance (19 Jan 2022)

Paschal Donohoe: I briefly make the point to the Deputy that my mindset on many of these supports is not for their long-term maintenance. If he looks at the EWSS, at the moment one worker in 12 in our country is now on that scheme. At the same time, we have many employers that cannot get the staff and the workers they need. Again, I should be open with the Deputy that more than the conditionality of access...