Results 7,081-7,100 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Housing Policy (16 Dec 2021)

Paschal Donohoe: I am aware of the ESRI paper to which the Deputy refers, which calls for higher levels of borrowing to increase public spending on housing.   The Government’s response to the Covid-19 pandemic has had a significant impact on our deficit. Last year, a general government deficit of €18½ billion was recorded – the equivalent of nearly 9 per cent of...

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

Paschal Donohoe: Mineral Oil Tax (MOT) applies to minerals oils used for motor or heating purposes in the State. The rate of MOT is comprised of a carbon and non-carbon component. I am advised by Revenue that Section 98 of Finance Act 1999 provides for a partial relief for MOT for heavy oil and liquefied petroleum gas (LPG) used in horticultural production and the cultivation of mushrooms. Heavy oil refers...

Written Answers — Department of Finance: Vacant Properties (16 Dec 2021)

Paschal Donohoe: The Finance (Local Property Tax) (Amendment) Act 2021 provides for a revaluation of residential properties to form the basis of the Local Property Tax (LPT) charge from 2022. While the LPT filing deadline passed on 10 November, it is evident that property owners are still making their best efforts to file their returns as these continue to be received by Revenue. As part of the LPT...

Written Answers — Department of Finance: Economic and Social Research Institute (16 Dec 2021)

Paschal Donohoe: Officials from my Department have held meetings with researchers from the Economic and Social Research Institute (ESRI) 50 times in the past year. Many of these meetings relate to the work of the Department of Finance/ESRI Joint Research Programme, which is jointly funded by my Department and the Revenue Commissioners. This programme, which will continue for its eighth year in 2022, involves...

Written Answers — Department of Finance: State Bodies (16 Dec 2021)

Paschal Donohoe: I can advise the Deputy that information on State Board membership, by Department, is available on the State Boards website www.StateBoards.ie. As the State Boards under the aegis of my Department do not collect information related to the declared disabilities of their members, it is not possible to provide the number of such persons with a declared disability.

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

Paschal Donohoe: As the Deputy will be aware the Commission issued its original proposal to amend a Council directive on the common system of value added tax as regards rates of value added tax on 18 January 2018. The compromise text agreed at ECOFIN has been amended significantly in comparison to the original proposal so the EU Parliament will once again be consulted for their opinion.  Once the...

Written Answers — Department of Finance: Customs and Excise (16 Dec 2021)

Paschal Donohoe: I am advised by Revenue that across the European Union electronic customs import declarations are now required for all parcels / packages coming from non-EU countries regardless of the value of the goods being sent. This includes parcels / packages coming from the UK. It is important to note that without a customs declaration and payment of any taxes and duties owed, parcels / packages from...

Written Answers — Department of Finance: Illicit Trade (16 Dec 2021)

Paschal Donohoe: I am assured by Revenue that combating the threat which fuel fraud and the illicit alcohol and tobacco trades pose to legitimate businesses, consumers and the Exchequer continues to be a priority. Steps taken by Revenue to combat the illegal mineral oils trade include the implementation of stringent supply chain controls and reporting requirements, a rigorous programme of risk focused...

Written Answers — Department of Finance: Vacant Properties (16 Dec 2021)

Paschal Donohoe: In 2018 I commissioned  Indecon consultants to examine the potential of a vacant residential property tax to meet the objective of increasing the supply of homes. The resulting report presented a detailed evidence-based assessment of vacancy rates in areas in which the demand for housing is most acute. The Indecon report is entitled “Report on the Taxation of Vacant...

Written Answers — Department of Finance: Vacant Properties (16 Dec 2021)

Paschal Donohoe: The Government’s strategy ‘Housing For All’ includes an action for my Department to collect data on vacancy with a view to introducing a Vacant Property Tax. The timeframe for delivery on this commitment is the second quarter of 2022.  The Finance (Local Property Tax) (Amendment) Act 2021 has accordingly enabled Revenue to collect certain information on vacant...

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

Paschal Donohoe: I propose to take Questions Nos. 260 and 262 together. Including funds allocated in Budget 2022, the total amount made available to mitigate the impact of the Covid-19 pandemic stands at approximately €48 billion, composed of a combination of direct public expenditure, taxation measures and ‘below the line’ supports. Of this, €6.8 billion has been made...

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

Paschal Donohoe: Due to the success of our vaccination programme restrictions were eased gradually since the second quarter of this year, 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...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 263 and 266 together. The latest figures from the CSO confirm the continued recovery of the domestic economy in the third quarter, as the success of the vaccination programme allowed for the easing of restrictions. Ireland’s external trade has supported the economy throughout the pandemic. The global economy experienced the shock of the Covid-19...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2021)

Paschal Donohoe: My colleagues across the European Union and I remain alert to the challenges and the potential economic impacts arising from Brexit. As one of the most affected Member States by Brexit, I pay particular attention to the effective implementation of the EU-UK Trade and Cooperation Agreement (TCA) and to the Withdrawal Agreement, which includes the Protocol on Ireland and Northern...

Written Answers — Department of Finance: Inflation Rate (16 Dec 2021)

Paschal Donohoe: I propose to take Questions Nos. 265 and 271 together. At both the ECOFIN and Eurogroup meetings, my fellow Ministers and I work alongside the European Commission and the European Central Bank to take stock of the latest economic situation, including inflation developments throughout the EU. The economic recovery throughout this year has been robust, with recent indicators pointing to...

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

Paschal Donohoe: I propose to take Questions Nos. 267 and 268 together. I take it that your questions relate to Ireland joining the 8 October OECD/G20 Inclusive Framework agreement to address tax challenges arising from the digitalisation of the economy. There are two pillars to the OECD agreement. Pillar One will see a reallocation of a proportion of profits to the jurisdiction of the consumer. This...

Written Answers — Department of Finance: Foreign Direct Investment (16 Dec 2021)

Paschal Donohoe: Since the onset of the Covid-19 crisis, businesses have been faced with unprecedented challenges and uncertainty. The latest data from the CSO confirms that following a steep decline at the start of 2021, the domestic economy has subsequently made a rapid recovery. Against the backdrop of the pandemic, inward FDI flows to Ireland still amounted to around one-fifth of GDP in 2020 according...

Written Answers — Department of Finance: Eurozone Issues (16 Dec 2021)

Paschal Donohoe: At both the ECOFIN and Eurogroup meetings, my fellow Ministers and I work alongside the European Commission and the European Central Bank to take stock of the latest economic situation, including the challenges facing the European economy. The recovery throughout this year has been robust, with the European economy essentially having regained its pre-pandemic level of output in the third...

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

Paschal Donohoe: The Irish insurance sector is diverse, comprising life, non-life and reinsurance firms providing a range of products and operating across a number of geographic markets.  As Minister for Finance, I am responsible for the development of the legal framework governing regulation of this sector.  This framework is mainly governed by the EU Solvency II Directive, which provides for three...

Written Answers — Department of Finance: Mortgage Interest Rates (16 Dec 2021)

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, though it should also be noted that recent trends indicate that certain mortgage rates have been falling in Ireland.  For example, the interest rates on new mortgages (excluding renegotiations) have fallen from 4.05% in December 2014 to 2.73% in October...