Results 681-700 of 32,429 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Exemptions (11 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law is required to comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they are exempt from VAT or fall within Annex III of the Directive, in which case lower VAT rates may apply subject to certain rules. In...

Written Answers — Department of Finance: Interest Rates (11 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: Ministerial Responsibilities (11 Feb 2025)

Paschal Donohoe: On 29 January 2025, the Government, upon nomination of An Taoiseach, formally appointed Ministers of State and assigned their responsibilities. Robert Troy TD was appointed as Minister of State at the Department of Finance with special responsibility for Financial Services, Credit Unions and Insurance. I look forward to working closely with Minister of State Troy to progress the remit of...

Written Answers — Department of Finance: Tax Data (11 Feb 2025)

Paschal Donohoe: Ireland is committed to preventing ‘treaty shopping’; an abusive practice whereby a taxpayer establishes itself in a country for the sole purpose of accessing tax treaty benefits. The inclusion of the detailed Limitation on Benefits provision, or LOB, in tax treaties is one of three anti-abuse options recommended as a result of the Action 6 Base Erosion and Profit Shifting...

Written Answers — Department of Finance: Revenue Commissioners (11 Feb 2025)

Paschal Donohoe: I am advised by Revenue that the person in question submitted a Form 11 Income Tax return for the tax year 2022, in paper form, which was received by Revenue on 27 September 2023. The person submitted a separate note which gave a breakdown of various social welfare income received during the year and a summary of self-employed income. The principles of the self-assessment apply to Income...

Written Answers — Department of Finance: National Treasury Management Agency (11 Feb 2025)

Paschal Donohoe: The National Treasury Management Agency (Amendment) Act 2014 ("the Amendment Act"), the NTMA sets out ISIF's mandate with regard to the investment of the Fund. Under the "Amendment Act" the Agency has responsibility for determining, monitoring and keeping under review an investment strategy for the Fund (other than directed investments) in accordance with the investment policy for the Fund. ...

Written Answers — Department of Finance: Illicit Trade (6 Feb 2025)

Paschal Donohoe: I propose to take Questions No. 44, 57 and 58 together. Across the EU, the taxation of tobacco products is governed by the Tobacco Products Tax Directive (2011/64/EU) which sets out EU rules on the structure and rates of excise duty applied to manufactured tobacco. The Directive defines and classifies various manufactured tobacco products according to their characteristics and lays down the...

Written Answers — Department of Finance: Tax Reliefs (6 Feb 2025)

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. It also has as a key aim of the encouragement of additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to...

Written Answers — Department of Finance: Tax Avoidance (6 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 46 to 54, inclusive, together. The specific anti-avoidance rules (SAARs) prohibit the misuse of certain losses, reliefs or exemptions when a particular type of transaction, or series of transactions, are undertaken. Revenue may use targeted anti-avoidance rules for more specific transactions than those to which the general anti-avoidance rule (GAAR) applies....

Written Answers — Department of Finance: Tax Credits (6 Feb 2025)

Paschal Donohoe: Finance Act 2018 introduced a short-term, tapered regional uplift under the section 481 film tax credit for productions being made in areas designated under the State aid regional guidelines (among other criteria). The purpose of the regional uplift was to support the development of new, local pools of talent in areas outside the current main production hubs, to support the geographic spread...

Written Answers — Department of Finance: Tax Yield (6 Feb 2025)

Paschal Donohoe: The Deputy should note that with limited exceptions such as the treatment of the carbon tax receipts, hypothecation is not a feature of the Irish tax system as it reduces the flexibility of the Government to prioritise and allocate funds as necessary at a particular time. Such reduced flexibility could act as a constraint on expenditure decisions and could also distort the allocation of...

Written Answers — Department of Finance: Tax Code (6 Feb 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. In Budget 2025, the Group A threshold...

Written Answers — Department of Finance: Tax Avoidance (6 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 60 to 62, inclusive, together. The Pensions Authority does not receive any declarations and does not approve any transfers to overseas arrangements for individual scheme members and individual PRSA contributors. The requirements to be in a position to process such a transfer payment to an overseas arrangement are on the trustees of the pension scheme or the...

Written Answers — Department of Finance: Artificial Intelligence (6 Feb 2025)

Paschal Donohoe: For operational and security reasons, we have previously been advised by the National Cyber Security Centre (NCSC) not to disclose details of systems and processes which could in any way compromise departmental security. In particular, it is not considered appropriate to disclose information which might assist criminals to identify potential vulnerabilities in departmental cybersecurity...

Written Answers — Department of Finance: Tax Code (6 Feb 2025)

Paschal Donohoe: In recent years, Government policy has focused on strengthening the environmental rationale behind company car taxation. Finance Act 2019 introduced an environmental rationale for the calculation of Benefit-in-Kind (BIK) on employer provided cars. The introduction of an environmental rationale for BIK was a commitment in the Climate Action Plan and aligns with vehicle BIK policy in several...

Written Answers — Department of Finance: Departmental Contracts (6 Feb 2025)

Paschal Donohoe: I wish to advise the Deputy that the following contracts with consultants were entered into in 2023 and 2024. Please note that the surveys completed by Behaviour and Attitudes marked with * are fully recoupable from the Banks. The survey completed by OECD marked with # is partially recoupable from the CCPC. They pay 50% of the costs, and the department covers the other 50%. ...

Written Answers — Department of Finance: Departmental Reports (6 Feb 2025)

Paschal Donohoe: 'Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ has been a wide-ranging review of the funds and asset management sector. Following consideration by Government, the report was published on 22 October 2024. Further details can be found on the following page of the Department of Finance website: The recently published Programme for Government...

Written Answers — Department of Finance: Flexible Work Practices (6 Feb 2025)

Paschal Donohoe: I wish to inform the Deputy that there has been no change to my Department's Blended Working Policy. My Department published its Blended Working Policy in July 2022 which was developed in line with the parameters of the Civil Service Blended Working Framework. The Department adopts a flexible and sustainable approach to remote working which allows staff to do so on a blended basis to...

Written Answers — Department of Finance: Fiscal Policy (6 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 68 and 69 together. I am answering these questions on the basis that the Deputy is referring to the possibility of direct investments in Israel, the Occupied Palestinian Territories and the Golan Heights by the three funds managed by the NTMA i.e. ISIF, the Future Ireland Fund and the Infrastructure Climate and Nature Fund. In respect of...

Written Answers — Department of Finance: Customs and Excise (5 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 247, 304 and 305 together. I am advised that Revenue is committed to targeting the illicit tobacco trade and implements a range of measures to identify and target the smuggling, supply or sale of illicit tobacco, including duty free tobacco in excess of duty-free allowances, and where possible, prosecuting those involved. Revenue keeps its operational...