Results 7,501-7,520 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Schemes (30 Sep 2021)

Paschal Donohoe: Help-to-Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment.  The incentive gives a refund of Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C of the Taxes Consolidation Act 1997 outlines the definitions...

Written Answers — Department of Finance: Budget 2022 (30 Sep 2021)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.  However, for clarity, it is important to note that the VAT Consolidation Tax Act 2010 (VATCA) on Schedule 1 Paragraphs (1) (2) and (3), provides for crèche and nursery services...

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

Paschal Donohoe: As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned in one year and not allow relief for losses incurred in another. Loss relief...

Written Answers — Department of Finance: Budget 2022 (30 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 168 and 169 together. In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues.  These can range from highly detailed and developed proposals for specific changes to existing taxes, reliefs, exemptions and allowances to more straightforward requests, for...

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

Paschal Donohoe: I am advised by Revenue that data in respect of Local Property Tax (LPT) is captured at individual property, and Local Authority levels. Data in relation to strategic housing developments is not required for the efficient administration of the tax and consequently the information requested by the Deputy is not available.

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

Paschal Donohoe: I am advised by Revenue that the table below sets out, in county order, the amount of Local Property Tax (LPT) that was foregone through exemptions for the current ‘valuation period’ (2013- 2021). The figures provided are based on valuations returned by property owners for their exempt properties. It is important to note that properties built since 2013 are outside the scope of...

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

Paschal Donohoe: As legislated for in the Finance Act 2016, the Bank Levy is due to expire at end-2021. The medium-term fiscal forecasts in the Summer Economic Statement contained a reduction in revenue from 2022 to take into account the expiration of the levy. Any decision on whether to extend the Bank Levy will be made in the context of Budget 2022. Should the measure be continued,...

Written Answers — Department of Finance: Customs and Excise (29 Sep 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 including those coming through the postal system regardless of the value of the goods being sent. This includes parcels/packages coming from the UK. While goods valued at less than €150 may not be liable to a customs duty...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 82, 85 and 86 together. Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. It provides a flat-rate subsidy to qualifying employers based on the numbers...

Written Answers — Department of Finance: Tax Collection (29 Sep 2021)

Paschal Donohoe: Revenue is currently contacting 1.4 million residential property owners to advise them of their statutory requirements in respect of the next Local Property Tax (LPT) ‘valuation period’ (2022 to 2025). This includes determining the value of their properties at 1 November 2021, submitting their LPT Return by 7 November 2021 and confirming a payment option for 2022. This...

Written Answers — Department of Finance: State Claims Agency (29 Sep 2021)

Paschal Donohoe: Prometheus Insurance Company Ltd (‘Prometheus’), formally known as Tradewise Insurance, is domiciled in Gibraltar and regulated by the Financial Services Commission there.  It operated in Ireland under the EU freedom to provide services provisions. On 31 December 2019, Prometheus, ceased writing new business and went into run-off. On 27 January 2021 the Supreme Court...

Written Answers — Department of Finance: Departmental Expenditure (29 Sep 2021)

Paschal Donohoe: I am taking the Deputy's use of the wording 'total spend on external contractors, consultancy services and other outsourcing' to refer to my Department's annual consultancy expenditure which includes payments in respect of consultancy services, professional fees, and legal advice. I can advise the Deputy that the amounts my Department incurred in respect of such...

Written Answers — Department of Finance: Financial Services (29 Sep 2021)

Paschal Donohoe: The European Commission proposal for a Pan-European Personal Pension Product (PEPP) was adopted by Council in 2019. Separately, the Level II Regulatory Technical Standards were approved by Council and published in March 2021. Accordingly, the Regulation will enter into application in Quarter 1 2022. My Department had domestic responsibility for negotiating this file...

Written Answers — Department of Finance: Tax Reliefs (29 Sep 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...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (28 Sep 2021)

Paschal Donohoe: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. It provides a flat-rate subsidy to qualifying employers based on the numbers of paid and eligible employees on the employer’s...

Written Answers — Department of Finance: Tax Collection (28 Sep 2021)

Paschal Donohoe: The Programme for Government - “Our Shared Future” – includes a commitment to bring forward legislation in relation to the Local Property Tax (LPT) on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition there is a commitment to bring new homes, which were outside the LPT, into the taxation system. The Finance...

Written Answers — Department of Finance: Tax Code (28 Sep 2021)

Paschal Donohoe: As previously advised to the Deputy in my reply to Dail Question No. 261 (Ref No. 43268-21), on the 15th of September, the filing date for self-assessed taxpayers who file their 2020 return (Form 11) and pay any liabilities due through ROS, including preliminary tax for 2021, has already been extended from 31 October 2021 to 17 November 2021 and no further extension is envisaged. ...

Written Answers — Department of Finance: Banking Sector (28 Sep 2021)

Paschal Donohoe: Within the regulatory framework of the Central Bank of Ireland, only authorised credit institutions or retail credit firms may provide mortgage credit to consumers in Ireland. Under EU law, credit institutions authorised in another EEA Member State can provide specified banking activities, including lending, in other Member States provided that the home country supervisor (which in Ireland is...

Written Answers — Department of Finance: Budget 2022 (28 Sep 2021)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying health expenses. Section 469 defines "health expenses" as "expenses in respect of the provision of health care including the services of a practitioner". A practitioner is defined in the section as "any person who is: registered in the register established under section 43 of the Medical...

Written Answers — Department of Finance: Tax Reliefs (28 Sep 2021)

Paschal Donohoe: Section 118(5A) of the Taxes Consolidation Act (TCA 1997) provides an exemption from benefit-in-kind (BIK) where an employer purchases a travel pass for an employee. Under section 118B TCA 1997 an employer and employee may also enter into a salary sacrifice arrangement under which the employee agrees to sacrifice part of his or her salary, in exchange for a travel pass. Where a travel pass is...