Results 6,941-6,960 of 32,527 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I may table a Report Stage amendment to section 72.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: No. Revenue will still be in a position to impose a penalty. In the absence of agreement on a penalty, it can have the penalty determined by a court. There is still provision for penalties to be imposed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: This is similar to the amendments proposed in sections 71 and 72. This amending provision is aimed at simplifying the existing penalty regime in respect of VAT.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Section 74 provides for the ending of the current regime for the publication of the list of tax defaulters. A new publication regime, set out in section 75, will replace the current regime in the context of any fines or other penalties imposed or determined by a court on or after 1 January 2022 or settlements which the Revenue Commissioners accept or undertake to accept on or after that date....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 121: In page 157, to delete lines 22 to 25 and substitute the following: “ ‘qualifying disclosure’ has the meaning given to it by, as the case may be, section 1077E or 1077F, as appropriate, section 116 or 116A, as appropriate, of the Value-Added Tax Consolidation Act 2010, section 99B of the Finance Act 2001 or section 134A of the Stamp...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: The publication threshold is indeed €35,000. This threshold is considered low and is based on the combined amount of tax, interest and penalties. Under the current system, given that the interest charge for late penalties is 8% or 10% per year, depending on the tax type, a recent tax underpayment might escape publication because the interest rate charge was relatively low, whereas an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I will have to come back to the Deputy with that information.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 122: In page 161, lines 15 to 19, to delete all words from and including “or” in line 15 down to and including “1999,” in line 19 and substitute the following: “(iii) the amount of the difference referred to in subsection (11) or (12), as the case may be, of section 99B of the Finance Act 2001, or (iv) the amount of the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I agree with Deputy Doherty. In fairness, the section and the amendments we are about to deal with concern the zoned land tax, ZLT. It is a big development in tax policy, and we would be better off giving it fuller consideration in the morning.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (17 Nov 2021)

Paschal Donohoe: Is there any way we could deal with this in the morning so that it is done before Leaders' Questions? I do not want to compromise proper scrutiny, however. I am free all day. I am in the hands of the committee.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I never actually answered the question on the section. This is a technical amendment to ensure that the meaning of the term “transfer” as used in section 633D is distinguished from the current definition of “transfer” in section 630. The current definition in section 630 of the Taxes Consolidation Act 1997 only refers to transfers of the whole or part of a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: The louder Deputy Doherty's voice, the weaker the argument.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Section 1077E(15)(a) of the Taxes Consolidation Act and the corresponding provisions of VAT, stamp duty and capital acquisitions tax legislation were introduced to facilitate the foreign income and assets disclosure programme in 2017. The provisions were designed to restrict penalty mitigation in a case where a person has or had offshore matters as defined, notwithstanding the making of what...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Deputy Doherty made a good suggestion in pointing out that we could dispose of another group of sections now. When we come back in the morning then, we would just have the ZLT and one or two other things to do. The Deputy's suggestion deserves consideration. I am happy to answer the question from Deputy Matthews, however, if the Chair wishes.

Written Answers — Department of Finance: Insurance Coverage (16 Nov 2021)

Paschal Donohoe: At first, I wish to assure the Deputy that I am aware of issues a number of equestrian activities have in terms of accessing insurance. However, the Deputy will appreciate that neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is...

Written Answers — Department of Finance: Insurance Coverage (16 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 210 and 227 together. I note that both questions refer to access to life insurance products for individuals with specific illnesses or medical conditions in the context of applying for a mortgage. 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, nor can we...

Written Answers — Department of Finance: Business Regulation (16 Nov 2021)

Paschal Donohoe: Retailers must consider a number of factors before choosing to accept any type of payment instrument. In the case of accepting card payments, one of the most relevant factors considered by a retailer are the fees that it must pay, of which consumers are generally unaware. One of the most common fees affecting merchant card acceptance across the EU is the interchange fee, i.e. the fee paid...

Written Answers — Department of Finance: Tax Yield (16 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 212 to 214, inclusive, together. I am advised by Revenue that the only available breakdown of receipts from Carbon Tax is by the relevant fuel type as this is the basis of which the tax is charged. Carbon Tax receipts, broken down by fuel type, for years 2019 and 2020 are published on the Revenue website at link:...