Results 7,001-7,020 of 32,527 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: I thank the Deputies for their contributions. It is possible to be on the side of the citizens of our country and not support this amendment. The reason I do not support it is that the work the two Deputies are calling for is already under way. That work is in respect of the awful issue that so many are confronting in Donegal and beyond with mica, where they have seen what they hoped to be...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: At this point I want to indicate that it is my expectation that I will bring forward an amendment to section 4 on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: The reason the help-to-buy scheme has a role to play in our tax code is I believe it is appropriate that our tax policy gives help to somebody who is buying his or her first home, particularly when that first home is a new build, thereby leading to additional supply. There is a difference in philosophy between Sinn Féin and me on this. Sinn Féin believes that people are looking...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: -----get full consideration.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: The review will, in truth, take a little longer than early in the new year. We will engage with the Deputy before the end of this year on his ideas. It is going to take probably a fair bit of next year to do this work, but we are happy to engage with the Deputy.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: I take very seriously the views that all Deputies bring forward in relation to this and any other matter in the Finance Bill. This is a policy that covers approximately 11% to 12% of all of the transactions in the housing market. Therefore, the charge that this is a significant contribution to housing price inflation in the context of it covering a very low share of transactions is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: I support section 5.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: Agreed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: Agreed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: I thank the Deputy for her questions. I was reflecting on the point she made regarding the Chinese economic zone. We will have to come back to her with an answer on that. On the rationale for this section and whether it applies to leased aircraft, and the Deputy's important points on whether we conducted an risk analysis and what kind of benefit we thought it would have, I do not believe...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: Regarding the Deputy's question as to whether it is payable as a lump sum, the answer is "Yes". I will ask my officials to advise me on the tax treatment of that. In the meantime, I will try to answer the remainder of her questions. In regard to the rationale for this, this recommendation was brought forward by the interdepartmental pensions reform and taxation group, which is administered...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: I appreciate the Deputy is requesting a comprehensive report on trans-border workers’ relief. This relief is provided for by section 825A of the Taxes Consolidation Act 1997, TCA, and generally applies in the case of cross-border workers who are Irish resident but who commute to work in another jurisdiction. The relief effectively removes the foreign employment income from a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: The reason I do not support the policy brought forward by Deputy Farrell is contained in some of the figures she read out, where she referred to the high marginal tax rates that would be faced at the levels of income that would be affected by this change. Were the personal tax credit of €1,650 to be tapered out at a rate of 5% per €1,000, or a loss of just over 8% of additional...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: The previous tax relief in respect of rent paid was abolished in budget 2011 and it ceased to be available to those who commenced renting for the first time from 8 December 2010. This followed a recommendation in the 2009 report by the Commission on Taxation that rent relief be discontinued. The view of the commission then was that, in the same manner in which mortgage interest relief...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: In terms of the tax treatment of supplementary pensions, Ireland operates an exempt, exempt, tax system, similar to the majority of other OECD countries. This means that pensions are exempt from income tax and pension fund gains are exempt from income tax but income from pension drawdown is taxed. In my view, we should seek to make overall progress in the area of pensions provision in a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (16 Nov 2021)

Paschal Donohoe: I will respond because a number of points have been put to me. To return to the thrust of it, I am not accepting the amendment from Deputy Mairéad Farrell because I believe that much of the information that the Deputy is seeking will be available in the coming months as we publish more information regarding the allocation of tax reliefs and the different income levels at which people...