Results 7,341-7,360 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Revenue Commissioners (23 Nov 2021)

Paschal Donohoe: Revenue has recently extended the filing date for self-assessed income tax returns to 5pm on Friday 19 November 2021 to assist taxpayers and tax practitioners with the difficulties arising from recent COVID-19 developments. This is the second extension that Revenue has provided for this filing date having previously moved it from the statutory 31 October 2021 date to 17 November 2021 for...

Written Answers — Department of Finance: Insurance Industry (23 Nov 2021)

Paschal Donohoe: At the outset, 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 companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive) which prohibits Member States from intervening. ...

Written Answers — Department of Finance: Energy Conservation (23 Nov 2021)

Paschal Donohoe: There are certain requirements which govern the provision of residential mortgage credit to consumers. For example, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness with a view to verifying the prospect of the...

Written Answers — Department of Finance: Tax Credits (23 Nov 2021)

Paschal Donohoe: Finance Bill 2021 provides for the introduction of a new tax credit for the digital gaming sector. Digital gaming is a sector that has seen exponential global growth in the past decade, however this growth has not been reflected in industry growth here in Ireland. Ireland has the potential to utilise the synergies with our established film and animation sectors, to support employment in...

Written Answers — Department of Finance: Departmental Schemes (23 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: Rental Sector (23 Nov 2021)

Paschal Donohoe: As no specific details were provided in respect of the tenant, the reply to the Question put by the Deputy is based on the generality of the provisions relating to non-resident landlords. Section 18 Taxes Consolidation Act 1997 (TCA) provides that rental income earned by both Irish resident and non-Irish resident companies and individuals from a property situated in the State is taxable...

Written Answers — Department of Culture, Heritage and the Gaeltacht: Covid-19 Pandemic (23 Nov 2021)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support employment and maintain the link between the employer and employee insofar as is possible. The EWSS has been a key component of the Government’s response to the Covid-19 crisis. The cost to date (18thNovember) of the EWSS is over €6.3 billion comprising of direct subsidy payments of €5.505 billion...

Written Answers — Department of Finance: Tax Data (18 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 162 and 163 together. I am advised by Revenue that the breakdown of the tax liabilities, at current Mineral Oil Tax (MOT), Carbon Duty and VAT rates, on a litre of petrol, diesel and Auto-LPG retailing at €1.10 or alternatively at €1.50 are as follows. Petrol Price (tax inclusive) per Litre € MOT Component of Price...

Written Answers — Department of Finance: Tax Data (18 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 164, 165 and 166 together. I am advised by Revenue that the table below shows the provisional breakdown of tax receipts for petrol, diesel and Auto-LPG for the months of February and October 2021. As a significant proportion of VAT collected on diesel sales is refunded to VAT registered businesses, the table provides for the net (VAT) receipts based on...

Written Answers — Department of Finance: Inflation Rate (18 Nov 2021)

Paschal Donohoe: While Covid-19 had a deflationary impact both in Ireland and internationally last year, inflation has picked up since the beginning of this year. The annual rate of HICP inflation rose to 5.1 per cent in October – the highest rate since 2003. The emergence of inflationary pressures is not unique to Ireland however, with inflation rates of 6.2 and 4.1 per cent recorded in the US and...

Written Answers — Department of Finance: Tax Exemptions (18 Nov 2021)

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 must comply.  In accordance with the Directive legal services, including legal services supplied in the course of making a will, are liable to VAT at the standard rate, currently 23%. There is no discretion under the Directive for Ireland to remove VAT on these supplies.

Written Answers — Department of Finance: Tax Code (18 Nov 2021)

Paschal Donohoe: As the Deputy may be aware, Capital Acquisitions Tax (CAT), including gifts and inheritances, is a tax on unearned wealth. It is recognised that effective taxation of capital is an important tool for addressing income and wealth inequality. Therefore, gift and inheritance taxes, including the efficient use of relief thresholds, are fundamental elements of using our tax...

Written Answers — Department of Finance: Tax Exemptions (18 Nov 2021)

Paschal Donohoe: I am informed by Revenue that the Taxes Consolidation Act 1997 (TCA) provides the following reliefs for sporting bodies, including community sports clubs: - Section 235 TCA provides for an exemption from Income Tax or Corporation Tax, as appropriate, for bodies established for the sole purpose of the promotion of athletic or amateur games or sports (“approved sporting...

Written Answers — Department of Finance: Covid-19 Pandemic (18 Nov 2021)

Paschal Donohoe: I am advised by Revenue that Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying health expenses.  Only “health expenses” incurred in the provision of “health care”, which has been carried out or advised by a “practitioner”, will qualify for tax relief. Health care is defined as the “prevention,...

Written Answers — Department of Finance: Tax Yield (18 Nov 2021)

Paschal Donohoe: The most recent projection provided by my Department for the period 2021 to 2030 is €9.2 billion in additional carbon tax revenues.  The annual breakdown of these receipts was provided in the PQ reply of 10 November 2021. As stated in the same PQ reply, projections are point in time exercises, and are revised periodically to take account of factors such as changes in the...