Results 7,381-7,400 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 370 and 383 together. As part of the Government’s response to Covid-19, Budget 2021 brought the VAT rate for Hospitality and Tourism related services and goods down from 13.5% to 9%. This was initially planned for 14 months, from 1 November 2020 to 31 December 2021. This was then extended to 31 August 2022 in recognition of the difficulties facing...

Written Answers — Department of Finance: Tax Credits (19 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, in my Budget 2022 speech, I announced that I propose to introduce  a tax disregard in respect of personal income received by households who sell residual electricity that they generate back to the grid, in the forthcoming Finance Bill.  The amount of the disregard will be set at €200.  This figure should ensure that most participants will pay...

Written Answers — Department of Finance: Credit Unions (19 Oct 2021)

Paschal Donohoe: The Central Bank have informed me that they cannot comment on the position regarding individual credit unions. However, the Central Bank have informed me that in relation to distributions to members, which can take the form of payment of dividends and/or loan interest rebates, credit unions must comply with specific requirements set out in the Credit Union Act, 1997 (the 1997...

Written Answers — Department of Finance: Credit Unions (19 Oct 2021)

Paschal Donohoe: The credit union sector pays four material levies and charges. Three of these levies – Deposit Guarantee Scheme, Resolution and Stabilisation – are used to build up funds that are available to protect member’s savings. The fourth levy is an Industry Funding Levy set by the Central Bank to offset the cost of regulation. Industry Funding Levy Since 2004, the amount of the...

Written Answers — Department of Finance: Fuel Sales (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 374, 375 and 376 together. Solid fuel (coal and peat) is liable to excise duty in this jurisdiction in the form of Solid Fuel Carbon Tax (SFCT). SFCT is a national excise and applies at different rates to four categories of solid fuel including coal, peat briquettes, milled peat and other peat. The SFCT rate on coal, currently €88.23 per tonne,...

Written Answers — Department of Finance: Departmental Offices (19 Oct 2021)

Paschal Donohoe: I wish to advise the Deputy that no new office space has been procured, purchased or rented by my Department. The matter of securing office accommodation is the responsibility of the Office of Public Works. With regard to office equipment for my Department in the past 10 years, to date, such expenditure amounts to some €0.95m. This relates to furniture-related items only and the...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was introduced on 26 March 2020 and it replaced the Employer Covid-19 Refund Scheme. The TWSS closed at the end of August 2020 when it was replaced by the Employment Wage Subsidy Scheme (EWSS) with effect from 1 September 2020. I am advised by Revenue that since June of last year, a programme of compliance checks on employers who participated in...

Written Answers — Department of Finance: Gambling Sector (19 Oct 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is provided for by Section 11 of the Finance Act 2020 and is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities the profits of which are chargeable to tax under Case 1 of Schedule D. The trade must also be carried on from a business premises that is located in a region subject to...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: I am assuming that this question is referring to consanguinity stamp duty relief, as set out in Schedule 1 (under Conveyance or Transfer) of the Stamp Duties Consolidation Act 1999. The consanguinity stamp duty relief, as currently constituted, provides, under certain conditions, for a 1% rate of stamp duty to be applicable where a transfer of agricultural land (by sale/purchase, exchange or...

Written Answers — Department of Finance: Tax Reliefs (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the latest costs available in relation to the Donation of Heritage Items can be found in the Cost of Tax Expenditures report which is published on the Revenue website ().  The tax credit claimed can be used to offset liabilities in respect of Income Tax, Corporation Tax, Capital Gains Tax or Capital Acquisitions Tax. However, a breakdown, by individual...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: As part of this year's Budget, I announced that the current concessional tax arrangements for working from home will be enhanced and formalised into legislation from 2022 onwards. An Income Tax deduction is proposed amounting to 30% of the cost of vouched expenses for electricity, heating and internet services for days spent working from home for remote workers. By way of background...

Seanad: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Second Stage (14 Oct 2021)

Paschal Donohoe: The purpose of this legislation is to seek the approval of the Oireachtas to ratify two amending agreements agreed by the Eurogroup last November, with the objective of strengthening the crisis resolution capabilities of the euro area. In summary, the two amending agreements provided for the reform of the European Stability Mechanism, ESM, as well as the introduction of the common backstop...

Seanad: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Second Stage (14 Oct 2021)

Paschal Donohoe: I thank the Acting Chairperson and I thank the Senators for their contributions. I wish to emphasise the two overriding objectives of this legislation in my concluding comments. The first one is the priority of trying to ensure that if there is a further banking difficulty, the taxpayer is protected from that, and the money that the banking sector contributes into what will eventually become...

Written Answers — Department of Finance: Tax Code (14 Oct 2021)

Paschal Donohoe: The flat rate expense (FRE) regime is operated by Revenue on an administrative basis. It applies where both a specific commonality of expenditure exists across an employment category and the statutory requirement for the tax deduction as set out in section 114 Taxes Consolidation Act (TCA) 1997 is satisfied, namely, that the expenses are wholly, exclusively and necessarily incurred in the...

Written Answers — Department of Finance: Community Employment Schemes (14 Oct 2021)

Paschal Donohoe: The issue to which the Deputy's question refers is one for the Minister for Social Protection in the first instance. However, I can confirm that I have been consulted in relation to the matter and I stand ready to engage in a positive way when further progress has been made between the parties directly involved.

Written Answers — Department of Finance: Financial Services (14 Oct 2021)

Paschal Donohoe: Since the Covid-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are or were economically impacted by the pandemic. In relation to the issue of persons that availed of pandemic unemployment payments and as a result were placed in a position that they were required to restructure credit...

Financial Resolutions 2021 - Financial Resolution No. 2: General (Resumed) (13 Oct 2021)

Paschal Donohoe: It is 8,000 ha.

Written Answers — Department of Finance: Tax Reliefs (13 Oct 2021)

Paschal Donohoe: Stamp duty relief for young trained farmers provides for a total exemption from stamp duty (currently 7.5%) on either the transfer by gift, or purchase, of farmland (and associated buildings) where the recipient is a trained farmer under the age of 35 and meets other specified criteria. It is legislated for in Section 81AA on the Stamp Duties Consolidation Acts 1999 (SDCA 1999), titled...

Written Answers — Department of Finance: Tax Reliefs (13 Oct 2021)

Paschal Donohoe: In accordance with my Department's Tax Expenditure Guidlines, generally speaking, tax measures are usually extended for a three-year period at any one time. As the Deputy will be aware, I announced in the Budget yesterday that the various stock relief measures are to be extended in Finance Bill 2021. Section 666 of the Taxes Consolidation Act (TCA) 1997, which provides that the amount...

Written Answers — Department of Finance: Insurance Industry (13 Oct 2021)

Paschal Donohoe: I note that the details supplied by the Deputy refers to a situation involving motor trade insurance, which I understand is not a standard private motor insurance policy. 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...