Results 7,761-7,780 of 33,175 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: I thank the Deputy for his two questions. That threshold was last changed in section 149 of the Finance Act of 2003. The Deputy will be aware of the operation of the credit. It was set in 2003 and I do not at this point have any plans to change it further, although I am aware of the role it plays in supporting families in the gifts they make from a parent to a child. However, with all of...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: The Deputy is correct that the non-indexation of different thresholds more often than not leads to an increase in tax revenue. As to what has been the change in inflation since the last change was made in 2003, the change in inflation in recent years alone would mean that the real impact of that threshold has now increased, given it has been left unchanged. I cannot at this point give the...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: Yes. An increase to €5,000 would have an approximate cost of €1.1 million.

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: On 8 October, Ireland joined 135 other member jurisdictions of the OECD framework in reaching a two-pillar agreement to address the tax challenges that have arisen from digitalisation. Pillar 1 will see a reallocation of a portion of the income of very large companies from source jurisdictions to market jurisdictions. Pillar 2 will introduce a global minimum effective tax rate of 15% on...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: I have the figures here in front of me as well. I am sure I got them from the same place Deputy Boyd Barrett did. He is correct, in the sense that credits and deductions are used, but that is not the same as tax avoidance. That is where we differ. Credit, for example, with regard to recognised research and development is not tax avoidance, it is a legitimate way of the tax code...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: In his efforts to pre-empt what I was going to say, we had a bit of a hallelujah moment. Deputy Boyd Barrett just said he values the jobs that are here. It is the first time in our years of debating this that I have heard him say that. I think he and I have had a little bit of a breakthrough in this debate.

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: It is great that all this is being recorded. If he does value them, surely he can then understand why we want them in the country and that we need to have a tax code that is competitive, which is why we have had this debate regarding the low rate. While we now agree on something regarding these jobs being valued, where we continue to disagree is that Deputy Boyd Barrett sees, for example,...

Ceisteanna Eile - Other Questions: Tax Code (9 Nov 2021)

Paschal Donohoe: Let us recognise all we have agreed on this evening.

Ceisteanna Eile - Other Questions: Tax Credits (9 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 79 and 132 together. The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997, as amended. The legislation provides that an individual is entitled to a tax credit of €3,300 per qualifying child for a year of assessment if he or she proves that at any time during the...

Ceisteanna Eile - Other Questions: Banking Sector (9 Nov 2021)

Paschal Donohoe: There has been a decline in the use of cash for transactions, but for many it is still the preferred method of making payments and performing transactions. I take the Deputy's point and the issue he raised about financial literacy is tied to the need for financial inclusion. To ensure that all citizens have the ability to participate in our financial system, there must be a place where they...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (9 Nov 2021)

Paschal Donohoe: I thank the Deputy. The objective of the EWSS is to support employment and maintain the link between the employer and employee insofar as is possible. It has been an important part of our response to the Covid-19 crisis. While the criteria for eligibility for business in general is based on a reduction in turnover as a result of the pandemic and having regard to the importance of...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (9 Nov 2021)

Paschal Donohoe: In recognition of the issues the Deputy referred to, we ensured that the childcare sector would be able to participate in the EWSS even if particular providers did not meet the revenue decline threshold. It is also the reason that it is the only sector referenced in the scheme. A provider who is in it now will continue to be in it until next April. The sector is undergoing huge change. We...

Ceisteanna Eile - Other Questions: Covid-19 Pandemic Supports (9 Nov 2021)

Paschal Donohoe: I accept many of the points the Deputy has made. I know how important the childcare sector is in supporting parents to go back to work and giving young children the support they need at the start of their life. I repeat what I said to Deputy Niamh Smyth. She made the case for a whole-of-government approach. I cannot give any better example of such an approach than saying that the...

Ceisteanna Eile - Other Questions: Banking Sector (9 Nov 2021)

Paschal Donohoe: Is this the question tabled by Deputy McGuinness?

Ceisteanna Eile - Other Questions: Banking Sector (9 Nov 2021)

Paschal Donohoe: I thank Deputy Smith. The Minister of State, Deputy Fleming, my officials and I have had regular contact with the Financial Services Union, FSU. Over the past year in particular, in light of the rate of change in the sector, this has included increased engagement in relation to the future of banking. The issues that the Deputy has referred to are serious. I am well aware of the different...

Ceisteanna Eile - Other Questions: Banking Sector (9 Nov 2021)

Paschal Donohoe: I thank the Deputy for that point. I anticipate that the review we will bring forward will have a provision within it for submissions to be made and for communities to make their views known about development or the absence of banking services in their local communities. In the interests of complete transparency, I envisage a review which will be conducted by the Department of Finance with...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Forestry Sector (9 Nov 2021)

Paschal Donohoe: Everything from the Deputy is always about blame. It is always about blaming somebody.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Forestry Sector (9 Nov 2021)

Paschal Donohoe: It is always about blame. It is the same old song from the Deputy, regardless of the topic. What I am doing is pointing to the action that we have taken. I am pointing to the legislation that was brought in by the then Government. It was one of the first Governments to bring in legislation to restrict the import of these trees into Ireland.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Forestry Sector (9 Nov 2021)

Paschal Donohoe: I am pointing to the cost in relation to this. I am informing the Deputy for the third time of the scheme that is in place there to help those whose trees and forests have been afflicted by this disease. Of course, it is also the case, and he may or may not be aware of this, a planting grant is available, which can cover up to 60% of the afforestation grant to help foresters with the cost...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Forestry Sector (9 Nov 2021)

Paschal Donohoe: A Leas-Cheann Comhairle, that is the proper record of what we have done. The then Government recognised this as an issue. As I have outlined, though the Deputy has little interest in hearing it, the supports and schemes that are available to help foresters deal with this issue.