Results 7,861-7,880 of 33,175 for speaker:Paschal Donohoe

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

Paschal Donohoe: At the outset, it is important to note that for those homeowners whose houses are affected by pyrite and Mica it is a very distressing and serious issue. It is my understanding that HomeBond is one of the providers of latent defect insurance, also referred to as structural defect insurance (SDI). This type of cover provides protection against defects that occur in the post-construction phase...

Written Answers — Department of Finance: Vacant Properties (9 Nov 2021)

Paschal Donohoe: The recently announced ‘Housing For All’ strategy includes a commitment that the Department will collect data on vacancy with a view to introducing a Vacant Property Tax. As I have stated on a number of occasions the primary objective of any vacant residential property tax would be to increase the supply of homes for rent or purchase to meet demand rather than increasing...

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

Paschal Donohoe: The Finance (Local Property Tax) Act 2012 (as amended) provides for certain properties to be exempt from Local Property Tax (LPT) during the current valuation period (2013 to 2021), and the next valuation period (2022 to 2025), if they meet certain qualifying conditions. While the legislation does not provide a specific exemption from LPT for properties adapted for occupation by visually...

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

Paschal Donohoe: The Competition and Consumer Protection Commission (CCPC), a body under the aegis of the Department of Enterprise, Trade and Employment, is the statutory body responsible for the enforcement of domestic and EU competition law in the State. As the Deputy may be aware there are a number of proposed transactions in the Irish Banking sector that are currently the subject of ongoing merger...

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

Paschal Donohoe: The Employment Investment Incentive (EII) provides for tax relief of up to 40% in respect of investments made in certain corporate trades. The EII allows an individual investor to obtain Income Tax relief on investments for shares in certain companies up to a maximum of €150,000 per annum in each tax year for investments made up until 31 December 2019. For investments made after 31...

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

Paschal Donohoe: As advised in my response to the Deputy’s previous question (50062/21), a corporation tax return (CT1) already captures certain information in relation to the R&D credit, in particular information which is required for the purpose of calculating a company’s tax liability. From that information, Revenue publishes statistics on the R&D credit, which is available...

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

Paschal Donohoe: The Central Bank of Ireland is the independent financial regulator in Ireland and is responsible for the authorisation and supervision of financial services firms. The legislative framework that applies to regulated financial services providers includes European and domestic legislation along with Central Bank regulations and guidance. The Central Bank, as the independent financial...

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

Paschal Donohoe: Section 465 of the Taxes Consolidation Act 1997 provides for the payment of the incapacitated child tax credit to the parent or guardian of a child who is permanently incapacitated, either physically or mentally. The qualifying criteria requires that medical evidence is provided setting out the extent of the incapacity and whether it is expected to permanently prevent the child from being...

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

Paschal Donohoe: The sale of a loan book and the price transacted between regulated entities in relation to any such sale is a commercial matter for the business entities involved in that particular transaction. However, the Central Bank has advised that there are certain requirements which must be met by regulated entities in circumstances where an entity is withdrawing from the Irish market. In...

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

Paschal Donohoe: Section 97A of the Taxes Consolidation Act 1997 provides for a time-limited deduction against rental income for pre-letting expenditure incurred on a residential premises that has been vacant for a year or more.The aim of the measure is to encourage owners of vacant residential property to bring that property into the rental market, for a minimum of four years. The measure is consistent with...

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

Paschal Donohoe: Section 28 of the Finance Bill 2021 provides for the application of an OECD-developed mechanism known as the “authorised OECD approach” or "AOA" for the attribution of income to a branch of a non-resident company operating in the State. This delivers on the commitment in the Update to Ireland’s Corporation Tax Roadmap which was published in January of this year. The...

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

Paschal Donohoe: I propose to take Questions Nos. 261 to 264, inclusive, together. The section 481 tax credit 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. In relation to PQ...

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

Paschal Donohoe: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS). It provides a subsidy to qualifying employers based on the numbers of paid and eligible employees on the employer’s payroll and charges a reduced rate of employer PRSI of 0.5% on wages paid which are eligible for the subsidy payment....

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

Paschal Donohoe: Section 72 Finance Bill 2021 proposes to remove the prohibition on making a qualifying disclosure where any matter contained in the disclosure relates to “offshore matters”. The aim of this amendment is to facilitate voluntary compliance and Revenue wants to encourage taxpayers to come forward voluntarily before they are contacted. The existing legislation means that there is...

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

Paschal Donohoe: I propose to take Questions Nos. 267 and 280 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 ‘flash’ HICP inflation rate reached 5.1 per cent in October – the highest rate since 2003. The emergence of inflationary pressures in recent months is not unique to...

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: Eurozone Issues (9 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 270 and 271 together. As President of the Eurogroup, I have regular discussions with my fellow euro area and EU Finance Minister colleagues, at our monthly meetings and through regular bilateral engagement, both virtual and - now that health restrictions are lifting - physical where possible. The first priority of the Eurogroup is to agree on economic and...

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

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the Banking and Payments Federation Ireland and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. The initial measures put in place included payment breaks initially for a period up to three months and then subsequently extended for up to six months....

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

Paschal Donohoe: My Department continues to monitor all aspects of the property market, including the rate of house price inflation, on an ongoing basis. According to the most recent figures released by the Central Statistics Office, between July and August 2021, the national Residential Property Price Index (RPPI) increased by 2.2 per cent, while prices increased by close to 11 per cent in the year to August...

Written Answers — Department of Finance: Mortgage Interest Rates (9 Nov 2021)

Paschal Donohoe: I am aware that the general level of new lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that certain mortgage rates have been falling in Ireland. For example, the interest rates on new fixed rate mortgages (excluding renegotiations) have fallen from 4.11% in December 2014 to 2.62% in...