Results 7,701-7,720 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Primary Medical Certificates (21 Sep 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for...

Written Answers — Department of Finance: Insurance Industry (21 Sep 2021)

Paschal Donohoe: At the outset it is important to note 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 reinforced by the EU Single Market framework for insurance (the Solvency II Directive) which expressly prohibits Member States from doing so....

Written Answers — Department of Finance: Film Industry (21 Sep 2021)

Paschal Donohoe: Section 481 is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and supporting the expression of Irish culture. Finance Act 2018 introduced an additional, time-bound, tapering regional uplift to the section 481 film tax credit for productions being made in areas designated under the State aid regional...

Written Answers — Department of Finance: Banking Sector (21 Sep 2021)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and decisions in relation to the provision of bank statements are made by the boards and management of individual banks. I am advised by the Central Bank that Chapter 6 of the Consumer Protection Code 2012 ‘Post-sale Information Requirements’ sets out the requirements that regulated entities must follow...

Written Answers — Department of Finance: Departmental Properties (21 Sep 2021)

Paschal Donohoe: I can advise the Deputy that none of the buildings owned or used by my Department are usually open to the public to access services. Details of those bodies under the aegis of my Department which own or use buildings that are usually open to the public to access services are as follows: The Central Bank of Ireland has offices open to the public at New Wapping Street, North Wall Quay, Dublin...

Written Answers — Department of Finance: Trade Agreements (21 Sep 2021)

Paschal Donohoe: I am advised by Revenue that it has been engaged with industry representatives in relation to this matter and that it has provided guidance and advice as to the process by which the necessary proof of origin requirements in relation to the import of used cars from the UK can be satisfied. Importers of second-hand cars from the UK into Ireland can claim a preferential tariff rate under the...

Written Answers — Department of Finance: European Union (21 Sep 2021)

Paschal Donohoe: I understand that when President von der Leyen referenced VAT it was in the context of improved interoperability for Member States. No actual proposal has been made by the Commission on this matter. In the event that a proposal is made it will be discussed by officials from every Member State. As the Deputy will be aware proposals can be amended before agreement and and any proposal relating...

Written Answers — Department of Finance: Tax Code (21 Sep 2021)

Paschal Donohoe: The current stamp duty rate for non-residential property, which includes agricultural land, is 7.5%. Farming is first and foremost a business, and indeed section 655 of the Taxes Consolidation Act 1997 states "For the purposes of the Tax Acts, farming shall be treated as the carrying on of a trade or, as the case may be, of part of a trade, and the profits or gains of farming shall be...

Written Answers — Department of Finance: Tax Code (21 Sep 2021)

Paschal Donohoe: Stamp duty relief for young trained farmers provides for a total exemption from stamp duty (the normal rate of stamp duty that arises on the acquisition of non-residential property, which includes farmland, is 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...

Written Answers — Department of Finance: Universal Social Charge (21 Sep 2021)

Paschal Donohoe: The Universal Social Charge (USC) came into effect on the 1st January 2011 to replace the Income Levy and Health Levy, neither of which gave relief for pension contributions. Its primary purpose was to widen the tax base and to provide a steady income to the Exchequer to provide funding for public services. It is a more sustainable charge than those it replaced and is applied at a low rate on...

Written Answers — Department of Finance: Tax Code (21 Sep 2021)

Paschal Donohoe: As the Deputy may be aware, there are existing reliefs from CGT in relation to the disposal of farming assets and farm restructuring relief. Farming assets are relieved from CGT where the person disposing of the asset(s) is aged 55 or over and both owned and used the asset(s) for the ten years prior to the disposal. While this relief is commonly referred to as Retirement Relief, it is...

Written Answers — Department of Finance: Tax Code (21 Sep 2021)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive, with which Irish VAT law must comply. In general, the VAT Directive provides that all taxable goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates of VAT. The...

Written Answers — Department of Finance: Tax Reliefs (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 202 and 203 together. When considering the introduction or extension of any tax relief, I must be mindful of the public finances and the many demands on the Exchequer. Tax reliefs, no matter how worthwhile in themselves, lead to a narrowing of the tax base. Under my Department's Tax Expenditure Guidelines, the introduction of new tax incentive measures, or...

Written Answers — Department of Finance: Departmental Communications (21 Sep 2021)

Paschal Donohoe: I wish to indicate to the Deputy that I do not delete text messages or email correspondence related to Government or official communications. However, on occasion, I have deleted texts when they relate to minor operational matters which have been completely dealt with.

Written Answers — Department of Finance: Cycling Policy (21 Sep 2021)

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the ‘Cycle to Work’ scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment for an employee. Under section 118B TCA 1997 an employer and employee may also enter into a salary sacrifice arrangement under which the...

Written Answers — Department of Finance: Tax Reliefs (21 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: - a.registered in the register established under section 43 of the...

Written Answers — Department of Finance: Inflation Rate (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 208 and 224 together. While Covid-19 had a deflationary impact both in Ireland and internationally last year, inflation has picked up since the beginning of this year. The annual rate of HICP inflation rose to 3 per cent in August – the highest rate since 2008. Similar trends have been observed across advanced economies, with inflation rates of 5.3,...

Written Answers — Department of Finance: Economic Data (21 Sep 2021)

Paschal Donohoe: Prior to the pandemic Irish economic fundamentals were strong, with robust growth, a labour market close to full employment, and surpluses in the underlying current account and the public finances. The outbreak of the pandemic turned the economy on its head in the space of a few weeks however, with the introduction of Covid-19 restrictions resulting in a sharp contraction in economic activity...

Written Answers — Department of Finance: European Union (21 Sep 2021)

Paschal Donohoe: Measured by any objective international criterion, Ireland cannot be defined as a tax haven. Ireland’s corporate tax policy, and broader industrial strategy, has consistently focused on attracting real and substantive investment that brings jobs. Our competitive but fair corporation tax rate is just one small part of the story. This complements our highly educated workforce,...

Written Answers — Department of Finance: European Union (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 213, 214 and 228 together. Ireland’s economic recovery from the Covid-19 crisis is now underway. Strong growth in the domestic economy was recorded in the second quarter of this year and domestic economic activity surpassed its pre-pandemic level for the first time since the start of the crisis. The global economy experienced the shock of the...