Results 7,601-7,620 of 33,182 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: The publication threshold is indeed €35,000. This threshold is considered low and is based on the combined amount of tax, interest and penalties. Under the current system, given that the interest charge for late penalties is 8% or 10% per year, depending on the tax type, a recent tax underpayment might escape publication because the interest rate charge was relatively low, whereas an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I will have to come back to the Deputy with that information.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I move amendment No. 122: In page 161, lines 15 to 19, to delete all words from and including “or” in line 15 down to and including “1999,” in line 19 and substitute the following: “(iii) the amount of the difference referred to in subsection (11) or (12), as the case may be, of section 99B of the Finance Act 2001, or (iv) the amount of the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I agree with Deputy Doherty. In fairness, the section and the amendments we are about to deal with concern the zoned land tax, ZLT. It is a big development in tax policy, and we would be better off giving it fuller consideration in the morning.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Select Committee (17 Nov 2021)

Paschal Donohoe: Is there any way we could deal with this in the morning so that it is done before Leaders' Questions? I do not want to compromise proper scrutiny, however. I am free all day. I am in the hands of the committee.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: I never actually answered the question on the section. This is a technical amendment to ensure that the meaning of the term “transfer” as used in section 633D is distinguished from the current definition of “transfer” in section 630. The current definition in section 630 of the Taxes Consolidation Act 1997 only refers to transfers of the whole or part of a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: The louder Deputy Doherty's voice, the weaker the argument.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Section 1077E(15)(a) of the Taxes Consolidation Act and the corresponding provisions of VAT, stamp duty and capital acquisitions tax legislation were introduced to facilitate the foreign income and assets disclosure programme in 2017. The provisions were designed to restrict penalty mitigation in a case where a person has or had offshore matters as defined, notwithstanding the making of what...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2021: Committee Stage (Resumed) (17 Nov 2021)

Paschal Donohoe: Deputy Doherty made a good suggestion in pointing out that we could dispose of another group of sections now. When we come back in the morning then, we would just have the ZLT and one or two other things to do. The Deputy's suggestion deserves consideration. I am happy to answer the question from Deputy Matthews, however, if the Chair wishes.

Written Answers — Department of Finance: Insurance Coverage (16 Nov 2021)

Paschal Donohoe: At first, I wish to assure the Deputy that I am aware of issues a number of equestrian activities have in terms of accessing insurance. However, the Deputy will appreciate 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...

Written Answers — Department of Finance: Insurance Coverage (16 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 210 and 227 together. I note that both questions refer to access to life insurance products for individuals with specific illnesses or medical conditions in the context of applying for a mortgage. 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, nor can we...

Written Answers — Department of Finance: Business Regulation (16 Nov 2021)

Paschal Donohoe: Retailers must consider a number of factors before choosing to accept any type of payment instrument. In the case of accepting card payments, one of the most relevant factors considered by a retailer are the fees that it must pay, of which consumers are generally unaware. One of the most common fees affecting merchant card acceptance across the EU is the interchange fee, i.e. the fee paid...

Written Answers — Department of Finance: Tax Yield (16 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 212 to 214, inclusive, together. I am advised by Revenue that the only available breakdown of receipts from Carbon Tax is by the relevant fuel type as this is the basis of which the tax is charged. Carbon Tax receipts, broken down by fuel type, for years 2019 and 2020 are published on the Revenue website at link:...

Written Answers — Department of Finance: Tax Yield (16 Nov 2021)

Paschal Donohoe: As the Deputy will be aware, the Department of Finance provided a point-in-time estimate of potential revenue arising from incremental increases in the rate of carbon tax out to 2030 to assist with the Programme for Government in 2020. This estimate, therefore, predates the European Commission Proposal on the extension of the EU ETS to the road transport and building sector. The...

Written Answers — Department of Finance: Bonds Redemption (16 Nov 2021)

Paschal Donohoe: I am informed by the National Treasury Management Agency (NTMA) that by the end of 2020, the NTMA had issued a total of €6.1bn nominal of Irish Sovereign Green Bonds (ISGBs) in three separate transactions. 1. The inaugural issue of €3bn, through a syndication, in October 2018 2. A syndicated tap of €2bn in October 2019 3. A €1.1bn auction in September 2020...

Written Answers — Department of Finance: Pensions Reform (16 Nov 2021)

Paschal Donohoe: The policy area has been transferred to Department of Public Expenditure and Reform as Ministerial responsibility for the area concerned was transferred under S.I. 10 of 2011 Ministers and Secretaries (Amendment) Act 2011. PQ 23629/20 answered last year by the Minister for Public Expenditure and Reform was concerned with a provision of the Pensions Declaration Rules 1966.

Written Answers — Department of Finance: Tax Collection (16 Nov 2021)

Paschal Donohoe: The 2012 report of the Interdepartmental Group on the Design of a Property Tax considered the issue of introducing an exemption or waiver for property owners below a certain income threshold. Having considered the possible inequities and administrative challenges of such an exemption or waiver structure the group recommended instead a deferral scheme that would assist property owners in a...

Written Answers — Department of Finance: Insurance Industry (16 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 219 and 220 together. At the outset, I would clarify that neither I, nor the Central Bank of Ireland, can influence the provision nor pricing of insurance products, nor do we have the power to direct insurance companies to provide cover to specific individuals or businesses. This position is reinforced by the EU Solvency II Directive insurance framework....