Results 7,501-7,520 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: At the outset, the Deputy should note that this matter was raised during a Finance Bill 2020 committee stage debate. As a result a technical note was prepared and sent to the Committee on Finance, Public Expenditure and Reform, and Taoiseach on 23 December 2020. This note provides a good overview of the issue. For the purpose of this response you should note that Sections 598 and 599...

Written Answers — Department of Finance: Tax Data (5 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the deadline for filing tax returns in relation to the tax year 2020 is not until later in 2021. When these returns are received and analysed in early 2022, it will then be possible for Revenue to identify taxpayers availing of the temporary (Covid related) second step-out from income averaging in 2020.

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: Consanguinity relief 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 gift) is made to certain close relations, such as a mother to son or uncle to niece. The standard rate of stamp duty applying to the transfer of agricultural land is 7.5%. In line with Government policy, it is intended to...

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: As the Deputy may be aware, the Capital Acquisitions Tax (CAT) Agricultural Relief operates by reducing the market value of 'agricultural property' (including farmland, buildings, stock) by 90%, so that gift or inheritance tax is calculated on an amount - known as the 'agricultural value' - which is substantially less than the market value. To qualify for agricultural relief, 80% of the...

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: With regard to favoured successor rules in the Capital Acquisitions Tax (CAT) regime, the Deputy should note that there is already a Favourite Nephew/Niece relief in place which allows a nephew or niece to be treated as a child for CAT purposes, subject to certain conditions. This means that they are entitled to the Group A tax-free threshold of €335,000. The aim of this relief...

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: Section 89 of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 provides for agricultural relief which takes the form of a 90% reduction in the taxable value of gifted or inherited agricultural property. To qualify for the relief, the person taking the gift or inheritance (the “beneficiary”) of the agricultural property must first qualify as a “farmer”,...

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 195 and 204 together. I am advised by Revenue that data in relation to enhanced stock relief for registered farm partnerships are available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf. The following table contains details on the tax years 2016 up to 2018, the latest year for which...

Written Answers — Department of Finance: Tax Credits (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 196 to 198, inclusive, together. The succession farm partnership scheme is a joint initiative between my Department and the Department of Agriculture, Food and the Marine, designed to encourage an older farmer to form a partnership with a young trained farmer, with a view to transferring management of the farm and ultimately ownership of the farm. The use of...

Written Answers — Department of Finance: Alcohol Sales (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 212 and 213 together. The licensing year for Intoxicating Liquor Licences runs from 1 October to 30 September in respect of Liquor Retailer On Licences, Liquor Retailer Off Licencesand Liquor Manufacturers Licences. The licensing year for Liquor Wholesale Dealer Licencesruns from 1 July to 30 June. Where both a Retailer Off Licence and aWholesale Dealer...

Written Answers — Department of Finance: Banking Sector (5 Oct 2021)

Paschal Donohoe: As the Deputy is aware, I announced in Dáil Éireann on 1 July 2021 that my Department will undertake a broad-ranging review of the retail banking sector to look at, inter alia, expectations of the sector, competition, consumer protection and consumer choice, the sector’s key role in the provision of sustainable credit to the economy, the availability of credit to SMEs from...

Written Answers — Department of Finance: Tobacco Control Measures (5 Oct 2021)

Paschal Donohoe: The taxation of tobacco products is governed by the Tobacco Products Tax Directive 2011/64/EU. The Directive aims at ensuring the proper functioning of the internal market and, at the same time, seeks to promote a high level of health protection and to fight against tax fraud, tax evasion and illegal cross border shopping. The upcoming review of the EU Directive is set to include a...

Written Answers — Department of Finance: Illicit Trade (5 Oct 2021)

Paschal Donohoe: I am advised that Revenue uses a range of measures to identify and target the smuggling, supply or sale of illicit tobacco products, with a view to disrupting the supply chain, seizing the products and where possible, prosecuting those involved. Revenue’s strategy involves developing and sharing intelligence on a national, EU and international basis, the use of analytics and detection...

Written Answers — Department of Finance: Illicit Trade (5 Oct 2021)

Paschal Donohoe: I am assured by Revenue that combating the threat which illegal cross–border trade and smuggling of all kinds, including that in fuel products, poses to legitimate businesses, consumers and the Exchequer continues to be a priority. Revenue and An Garda Síochána collaborate closely in acting against illegal cross-border trade, and also cooperate with their counterparts in...

Written Answers — Department of Finance: Tax Data (5 Oct 2021)

Paschal Donohoe: I am advised by Revenue that taxpayer units with taxable incomes exceeding €325,000 incurred an average effective income tax rate in the region of 36% in 2018, the latest year for which data are currently available. If this effective rate was 50%, it is estimated very roughly that the additional yield would be approximately €800m in a full year.

Written Answers — Department of Finance: Tax Data (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 219 and 220 together. The estimated costs of indexation of various rate bands and tax credits are available in Revenue’s Ready Reckoner, available at www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf. For the convenience of the Deputy, the estimated cost of indexation at 1% is outlined in the table below. Cost of...

Written Answers — Department of Finance: Defective Building Materials (5 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, the Minister for Housing, Local Government and Heritage, has established an Independent Working Group to examine the issue of defective housing. Officials from my Department participate in this Working Group. The objectives of the group are to identify the scope of relevant significant defects in housing, to evaluate the scale of housing affected, to propose a...

Written Answers — Department of Employment Affairs and Social Protection: Covid-19 Pandemic Unemployment Payment (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 426 and 432 together. I am aware of concerns that have been raised regarding the pace of recovery for the arts sector. However, the position is that the Employment Wage Subsidy Scheme (EWSS) is an economy wide support. The objective of EWSS is to support all employment and to maintain the link between the employer and employee insofar as is possible. The...

Written Answers — Department of Finance: Primary Medical Certificates (30 Sep 2021)

Paschal Donohoe: To qualify for a Primary Medical Certificate an applicant must be permanently and severely disabled, and satisfy at least one of the following medical criteria, in order to obtain a Primary Medical Certificate: - be wholly or almost wholly without the use of both legs; - be wholly without the use of one leg and almost wholly without the use of the other leg such that the applicant is...

Written Answers — Department of Finance: Insurance Coverage (30 Sep 2021)

Paschal Donohoe: I understand that the Deputy is referring to life and mortgage protection insurance products in her question. At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies as to what terms and conditions apply in relation to the provision of cover to...

Written Answers — Department of Finance: Tax Reliefs (30 Sep 2021)

Paschal Donohoe: I am advised by Revenue that the person in question is registered as a self-assessed taxpayer and was also in receipt of PAYE income in 2018. Following a review of the person’s overall tax position for that year, Revenue is satisfied that he received Illness Benefit payments from the Department of Social Protection. The benefit payments were correctly liable to tax but not to the...