Results 7,801-7,820 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: I am advised by Revenue that 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 accordance with the Value-Added Consolidation Act, 2010 the supply of non-alcoholic drinks is generally liable to tax at the standard rate, currently 23%. The VAT Directive obliges each Member State to have a standard rate of...

Written Answers — Department of Finance: Banking Sector (9 Nov 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: Covid-19 Pandemic Supports (9 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 93, 104, 107, 116, 118, 131, 136, 138, 154 and 156 together. The Business Resumption Support Scheme (BRSS) is a support for businesses impacted by COVID-19. I am advised by Revenue that eligible businesses can register for the BRSS via the e-Registration facility on the Revenue On-line System (ROS). Once registered, eligible businesses can make a claim at...

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: The present position is that agricultural contractors are not entitled to avail of relief from increases in the carbon tax on farm diesel under section 664A of the Taxes Consolidation Act 1997. This is because farming, which is defined in section 654 of the Taxes Consolidation Act, requires that the occupation of farmland. Agricultural contracting does not involve the occupation of farmland....

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2021)

Paschal Donohoe: Section 481 TCA 1997 provides a 32% payable credit for eligible expenditure on film production in Ireland. The scheme 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 the Irish culture. The audiovisual sector has largely continued to function through the most challenging...

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 96, 139 and 245 together. 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...

Written Answers — Department of Finance: Film Industry (9 Nov 2021)

Paschal Donohoe: Section 481 provides relief in the form of a corporation tax credit related to the cost of production of certain films. The scheme 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 the Irish culture. Finance Act 2018 introduced a short-term, tapered regional uplift for...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Nov 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was introduced in 26 March 2020 as an emergency income support for eligible employees where the employer’s business activities were negatively impacted by the COVID-19 pandemic. Over 66,600 employers received a subsidy under the TWSS with payments of €2.8 billion paid out to a total of 664,500 workers. The scheme operated until 31 August...

Written Answers — Department of Finance: Banking Sector (9 Nov 2021)

Paschal Donohoe: The withdrawal of Ulster Bank from the market and the decision by Bank of Ireland to close 88 branches in the Republic of Ireland are regrettable, particularly for their customers and staff and they represent unfavourable developments for the Irish banking market. However, decisions in this regard are the sole responsibility of the board and management of the banks, which must be run on an...

Written Answers — Department of Finance: Departmental Schemes (9 Nov 2021)

Paschal Donohoe: As I advised the Deputy in my response to his previous recent question on the number of Living City Initiative applications for Limerick, according to Revenue, applications are made to the relevant Local Authority in respect of the owner-occupier and rented residential elements of the scheme; applications to the Local Authority are not required to be made under the commercial element of the...

Written Answers — Department of Finance: Departmental Schemes (9 Nov 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 employee agrees to...

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 103 and 144 together. The Finance Act 2012 introduced section 825C to the Taxes Consolidation Act, 1997. This section, as amended, provides Income Tax relief for certain individuals assigned during any of the tax years 2012 to 2022 to work in the State. The relief is commonly known as SARP (Special Assignee Relief Programme). SARP provides for relief from...

Written Answers — Department of Finance: Inflation Rate (9 Nov 2021)

Paschal Donohoe: The flash estimate for HICP inflation in October is 5.1 per cent, which would be the highest rate since 2003. The emergence of inflationary pressures in recent months is not unique to Ireland however, with the euro area flash estimate reaching 4.1 per cent. The recent increase in inflation is partly explained by temporary factors, which are expected to fade over time, including...

Written Answers — Department of Finance: Stability and Growth Pact (9 Nov 2021)

Paschal Donohoe: As the Deputy is aware, the European Commission published a Communication on October 19th which formally relaunched the public debate on the EU economic governance framework. Let me state at the outset that I welcome the Commission’s communication, as I believe that the timing is right for Europe to consider, and to debate, the future of our fiscal framework. The discussions on...

Written Answers — Department of Finance: Financial Services (9 Nov 2021)

Paschal Donohoe: The Central Bank has issued warnings to consumers in 2017 and 2018, with the latest advice issued in April of 2021, on the risks of buying virtual currencies. The Central Bank warnings outline the risks of buying or investing in “virtual currencies” (VCs): extreme volatility; absence of guarantees and safeguards associated with regulated financial services; and the possibility...

Written Answers — Department of Finance: Tax Reliefs (9 Nov 2021)

Paschal Donohoe: The Department of Finance does not provide any grants, schemes or supports for the purchase of a vehicle. It administers the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme which provides relief from VAT and VRT (up to a certain limit) set against the purchase and use of an adapted car, and for transport of a person with specific severe and permanent physical disabilities....

Written Answers — Department of Finance: Tax Code (9 Nov 2021)

Paschal Donohoe: The Deputy is referring to the taxation of cross-border workers who are Irish resident but commute to work in another jurisdiction and claim relief in accordance with section 825A Taxes Consolidation Act (TCA) 1997, which is commonly referred to as Trans-Border Workers’ Relief. The relief effectively removes the foreign employment income from a liability to Irish tax where foreign...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Nov 2021)

Paschal Donohoe: I am advised by Revenue that there were approximately 310,000 employees supported by the Employment Wage Subsidy Scheme (EWSS) in September 2021, which is the most recent month for which complete payslip information from employers is available for analysis. Of these, 85,000 (27%) were aged under 25. I am further advised by Revenue that there were approximately 27,000 employers supported by...

Written Answers — Department of Finance: Insurance Industry (9 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 112, 149, 157, 254 and 283 together. I am aware that the affordability of insurance is an issue of concern for many groups, including the sectors referred to in the Deputies’ questions. As the Deputy will be aware, neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, nor do we have the power to...

Written Answers — Department of Finance: Tax Yield (9 Nov 2021)

Paschal Donohoe: I am taking it that this question has been tabled in the context of Ireland joining 135 other member jurisdictions of the OECD/G20 Inclusive Framework in reaching a high level agreement on a two-pillar solution to address tax challenges arising from the digitilisation of the economy. There are two pillars to the OECD agreement. Pillar One will see a reallocation of a proportion of...