Results 7,601-7,620 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2021)

Paschal Donohoe: Finance Act 2008 introduced the Accelerated Capital Allowance (ACA) scheme for Energy Efficient Equipment (EEE). The scheme provides a tax incentive for companies and sole traders who invest in highly EEE. The ACA scheme allows taxpayers to deduct the full cost of expenditure on eligible equipment from taxable profits in the year of purchase. This differs to the standard treatment of capital...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 35 to 37, inclusive, together. I am advised by Revenue that the cost of tax relief on pension contributions for the years 2004 to 2018 (the latest year currently available) are available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf. For 2018 the published items in relation to pension...

Written Answers — Department of Finance: Tax Reliefs (22 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...

Written Answers — Department of Finance: Tax Avoidance (22 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 39 to 42, inclusive, together. I am aware of recent media report regarding a publication concerning the tax arrangements of an individual taxpayer. From the outset, I must state that it is not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. I am informed by the Revenue Commissioners that Revenue uses a range of...

Written Answers — Department of Finance: Tax Data (22 Sep 2021)

Paschal Donohoe: Section 11 of the Finance (Local Property Tax) Act 2012 (as amended) sets out the rules used to determine the ‘liable person’ of a residential property for LPT purposes. Generally, the ‘liable person’ is the owner of the residential property on the basis that he or she has the right to immediate possession or is entitled to receive the rent where occupied by a...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: To go back to the issue the Deputies' touched on a moment ago, Deputy Carroll MacNeill made the point about the financial services sector. It is the case that many companies in the services sector have become more profitable and more successful during this period. In the context then of working from home and the additional costs of that, this is an issue employers and employees need to work...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 10, 35, 38 and 56 together. I thank the Deputies for their questions. I am advised by Revenue that, while working remotely does not entitle PAYE workers to a specific tax credit, a combination of legislative provisions and administrative practices provide relief for remote workers who incur certain expenditure in the performance of the duties of their...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: Always, a Cheann Comhairle. However, we have to ensure that the ambition of today is also affordable tomorrow. This is a matter that the Government Deputies at least are aware of. I am aware of the importance of how we support the move to working away from the office. Deputy Moynihan made an important point that I will consider, and I thank him for raising it. Regarding the...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: At the conclusion of this process, it will be appropriate for me to give a broader perspective on the work that has happened in the OECD, in the European Union and elsewhere in pursuit of our objectives regarding corporate tax policy and the stability of the rate. This is a project that has been going on for a number of years. It is one in which I have been totally involved. We will get...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: I would say briefly to Deputy Nash, if I may, that if I had entered the agreement earlier in the process a question that Irish industry and the Dáil would be putting to me is, what I believe the rate will be in the future. As long as it is described as at least 15%, that certainty is not there.

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 9 and 13 together. This 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, DIRT, paid in the State over the previous four years, subject to certain limits. The scheme was enhanced in 2020 as part of the July...

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: If I may begin with Deputy Connolly, the value of the tax strategy group paper is it lays out different options that the Government can consider in the run-up to the budget. At this point, I cannot indicate the future of the scheme because the Government has not made a decision on it. It will be made on budget day. I note what the tax strategy group papers stated about the need for a more...

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: The reason fewer purchases happened is because of how long the economy was locked down in 2020. There were fewer opportunities for homes to be bought than there would have been in the previous year.

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: The reason the cost went up is because in the middle of the year we enhanced the scheme. That is the reason. As to the point Deputy Smyth made, as I stated a moment ago, I am well aware of the importance of the scheme. If Deputy Connolly is concerned about the answer I gave, she would even be more concerned if I indicated a budget day decision three weeks before the budget. All of these...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 8, 209, 211 and 227 together. The 140 members of the OECD's inclusive framework on base erosion and profit shifting, BEPS, continue to work on a two-pillar proposal towards finding a consensus solution to address the tax challenges of digitalisation and globalisation of the economy. Many of the key policy decisions of the two-pillar proposal, including...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: I thank Deputy Nash for his point and I, of course, respect also the judgment he is bringing to bear on this and the view of the Labour Party on it. The key point I would make to the Dáil this evening, however, is the current text in relation to this agreement contains far too many uncertainties for me to be able to recommend to the Government and then to the Dáil that we should...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (21 Sep 2021)

Paschal Donohoe: Of course the Government will consider if we can do anything on the issues the Deputies raised. The EWSS is in place and we have to make a decision as part of the budgetary process regarding the future of the scheme, how long it will be in place and what subsidies will be available for its future duration. A scheme such as that will contribute to the ability of employers to recover from the...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: EU Funding (21 Sep 2021)

Paschal Donohoe: I do not hear much stony silence in regard to the costs. A growing theme of the public debate that is under way is an appreciation of the increase in our national debt and what that could mean for generations to come. Unlike the banking guarantee, the debt incurred in dealing with the Covid crisis played a direct role in saving jobs in our domestic economy at a time they were needed. It...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: EU Funding (21 Sep 2021)

Paschal Donohoe: The Deputy will come into the House and say the public health measures are too demanding but when the Government brings forward a plan to lighten and moderate those public health measures and allow restaurants to successfully reopen in the way they did this summer, Deputy Tóibín is against it. He talked earlier about his instincts. He says he is in favour of changing public health...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: EU Funding (21 Sep 2021)

Paschal Donohoe: Of course the Deputy does not want it acknowledged that the measure succeeded. He is against stony silence except when a charge is being made about him.