Results 7,201-7,220 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: The Government launched the Climate Action Plan 2021 on 4 November 2021, this is a detailed plan for taking decisive action to achieve a 51% reduction in overall greenhouse gas emissions by 2030 and setting us on a path to reach net-zero emissions by no later than 2050, as committed to in the Programme for Government and set out in the Climate Act 2021. In addition to maintaining existing...

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax 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 as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief,...

Written Answers — Department of Finance: Tax Rebates (9 Nov 2021)

Paschal Donohoe: The price of petrol and diesel is determined by a number of factors including taxation, the price of the raw materials, the prevailing exchange rates as well as the fact the different wholesalers can enter into forward contracts at different rates for the purchase of oil. The price of fuel on the forecourt is set by the individual retailer and would likely take into account the costs...

Written Answers — Department of Finance: Insurance Coverage (9 Nov 2021)

Paschal Donohoe: It is important at the outset to state that the provision of flood cover is a commercial matter for insurance companies, based on an assessment of the risks they are willing to accept. As such, the Government cannot interfere in the provision or pricing of insurance, or direct as to where cover is provided. Consequently, neither I nor the Central Bank of Ireland can interfere in this, as...

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: I am informed by Revenue that it operates a scheme known as ‘country money’ in relation to employees in the construction sector. This arrangement is designed to reduce the administrative overhead for both employers and employees in the reimbursement of expenses of travel. Section 114 of the Taxes Consolidation Act 1997 provides that where an employee “is necessarily...

Written Answers — Department of Finance: Banking Sector (9 Nov 2021)

Paschal Donohoe: As the Deputy will appreciate, the decision to grant or refuse an individual application for credit, and/or whether or not to seek security for the provision of credit (and if so the type of such security), or to provide credit on an unsecured basis, is a commercial decision to be made by the individual lender in line with its own lending policies and individual underwriting decisions. As...

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2021)

Paschal Donohoe: The Deputy will be aware that the Road Traffic and Roads Bill 2021 was recently published and is currently before the Dáil. The Bill includes measures to provide for the legal use of powered personal transporters, including escooters. Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the ‘Cycle-to-Work’ scheme. This scheme provides an exemption...

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2021)

Paschal Donohoe: In my Budget 2022 speech I announced a modest tax disregard in respect of personal income received by households who sell residual electricity that they generate back to the grid. The aim of the measure is to remove a potential administrative barrier to entry to the DECC Microgeneration Support Scheme. It is proposed that the measure would not apply to trading income and that it should be...

Written Answers — Department of Finance: Tax Rebates (9 Nov 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme 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. Details of these reliefs and the grant in respect of fuel usage are available on the Revenue website at the following link: www.revenue.ie/en/importing-vehicles-duty-free-allowances/gu...

Written Answers — Department of Finance: Insurance Coverage (9 Nov 2021)

Paschal Donohoe: At the outset I wish to make it clear to the Deputy that Government is aware of issues that are facing a number of high-risk activity sectors, including in equestrian pursuits in terms of accessing insurance. It is important to note 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...

Written Answers — Department of Finance: Banking Sector (9 Nov 2021)

Paschal Donohoe: As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard, including the management of branch networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The...

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: Prior to Finance Act 2017, agricultural land which was leased for solar panels was not classified as qualifying agricultural property for the purposes of Capital Gains Tax retirement relief or agricultural relief from Capital Acquisitions Tax. Following a review announced in Budget 2018, and in recognition of the then Government's commitment to facilitate the development of solar energy...

Written Answers — Department of Finance: Insurance Coverage (9 Nov 2021)

Paschal Donohoe: At the outset, it is important to note that for those homeowners whose houses are affected by pyrite and Mica it is a very distressing and serious issue. It is my understanding that HomeBond is one of the providers of latent defect insurance, also referred to as structural defect insurance (SDI). This type of cover provides protection against defects that occur in the post-construction phase...

Written Answers — Department of Finance: Vacant Properties (9 Nov 2021)

Paschal Donohoe: The recently announced ‘Housing For All’ strategy includes a commitment that the Department will collect data on vacancy with a view to introducing a Vacant Property Tax. As I have stated on a number of occasions the primary objective of any vacant residential property tax would be to increase the supply of homes for rent or purchase to meet demand rather than increasing...

Written Answers — Department of Finance: Tax Exemptions (9 Nov 2021)

Paschal Donohoe: The Finance (Local Property Tax) Act 2012 (as amended) provides for certain properties to be exempt from Local Property Tax (LPT) during the current valuation period (2013 to 2021), and the next valuation period (2022 to 2025), if they meet certain qualifying conditions. While the legislation does not provide a specific exemption from LPT for properties adapted for occupation by visually...

Written Answers — Department of Finance: Banking Sector (9 Nov 2021)

Paschal Donohoe: The Competition and Consumer Protection Commission (CCPC), a body under the aegis of the Department of Enterprise, Trade and Employment, is the statutory body responsible for the enforcement of domestic and EU competition law in the State. As the Deputy may be aware there are a number of proposed transactions in the Irish Banking sector that are currently the subject of ongoing merger...

Written Answers — Department of Finance: Departmental Schemes (9 Nov 2021)

Paschal Donohoe: The Employment Investment Incentive (EII) provides for tax relief of up to 40% in respect of investments made in certain corporate trades. The EII allows an individual investor to obtain Income Tax relief on investments for shares in certain companies up to a maximum of €150,000 per annum in each tax year for investments made up until 31 December 2019. For investments made after 31...

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2021)

Paschal Donohoe: As advised in my response to the Deputy’s previous question (50062/21), a corporation tax return (CT1) already captures certain information in relation to the R&D credit, in particular information which is required for the purpose of calculating a company’s tax liability. From that information, Revenue publishes statistics on the R&D credit, which is available...

Written Answers — Department of Finance: Tax Avoidance (9 Nov 2021)

Paschal Donohoe: The Central Bank of Ireland is the independent financial regulator in Ireland and is responsible for the authorisation and supervision of financial services firms. The legislative framework that applies to regulated financial services providers includes European and domestic legislation along with Central Bank regulations and guidance. The Central Bank, as the independent financial...

Written Answers — Department of Finance: Tax Credits (9 Nov 2021)

Paschal Donohoe: Section 465 of the Taxes Consolidation Act 1997 provides for the payment of the incapacitated child tax credit to the parent or guardian of a child who is permanently incapacitated, either physically or mentally. The qualifying criteria requires that medical evidence is provided setting out the extent of the incapacity and whether it is expected to permanently prevent the child from being...