Results 7,901-7,920 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (27 Jul 2021)

Paschal Donohoe: The Deputy will be aware that on 1 July 2021, the OECD Inclusive Framework reached agreement, but not consensus,on key aspects of the two-pillar solution to address tax challenges arising from digitalisation and globalisation. Pillar One proposes a re-allocation of a proportion of tax to the market jurisdiction, while Pillar Two seeks to apply a global minimum effective tax rate. Ireland is...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jul 2021)

Paschal Donohoe: Revenue publishes weekly statistical updates on the main COVID-19 support schemes, including the Covid Restriction Support Scheme (CRSS). These statistics are available at link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/number-of-taxpayers-and-returns/covid-19-support-scheme s-statistics.aspx. The latest update to the statistics, dated 22 July 2021, shows in...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 410 and 413 together. The Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or...

Written Answers — Department of Finance: Tax Code (27 Jul 2021)

Paschal Donohoe: I assume that the Deputy is referring to the Digital Levy. In 2020, the European Council invited the European Commission to bring forward a proposal for a digital levy in 2021 in the context of Own Resources to assist in the funding of the EU budget. It is my understanding that it was the intention of the European Commission to bring forward such a proposal this month. However on 12...

Written Answers — Department of Finance: Tax Code (27 Jul 2021)

Paschal Donohoe: My understanding is that the Deputy's question relates to changes to the international tax framework proposed recently at OECD. In this context, you may be aware that on 1 July 2021, the OECD Inclusive Framework reached agreement, but not consensus,on key aspects of the two-pillar solution to address tax challenges arising from digitalisation and globalisation. Pillar One proposes a...

Written Answers — Department of Finance: Brexit Issues (27 Jul 2021)

Paschal Donohoe: The ATA Carnet is an internationally recognised document that you can use to temporarily import or export certain goods into or out of the EU. The carnet is issued in the country from where the goods are exported. You must present the ATA carnet with the goods to customs at the point of exportation and importation. The ATA Carnet is completed and stamped each time the goods leave/re-enter...

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: I note that the details supplied by the Deputy refers to insurance for a specific organisation. While I recognise the concerns felt by many businesses across various sectors around the cost and availability of insurance cover, I am sure the Deputy will appreciate that neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, nor do we have...

Written Answers — Department of Finance: National Treasury Management Agency (27 Jul 2021)

Paschal Donohoe: It was not possible for the National Treasury Management Agency to provide the information sought in the time available and, therefore, I will make arrangements to provide the information to the Deputy in line with Standing Orders.

Written Answers — Department of Finance: Economic Data (27 Jul 2021)

Paschal Donohoe: The most recent Quarterly Financial Accountsrelease, published by the Central Bank, provides financial data for Q4 2020 for all sectors of the Irish economy. In Q4 2020, household net worth increased by 2.9 per cent on the previous quarter and 6.1 per cent year on year to €855 billion. This was made up of financial assets of €441 billion, housing assets of €557 billion...

Written Answers — Department of Finance: National Treasury Management Agency (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 419 and 420 together. The large-scale fiscal support required to limit the economic disruption brought about by the COVID-19 pandemic has led to an increase in public indebtedness. To offer a wider picture of Ireland’s debt, the National Treasury Management Agency have provided a response in relation to General Government Debt (GGD). This is the...

Written Answers — Department of Finance: Exchequer Payments (27 Jul 2021)

Paschal Donohoe: The primary Exchequer balance may be defined as the Exchequer balance adjusted for the impact of the national debt cash interest cost. As per the Stability Programme Update 2021, the national debt cash interest cost in 2022 is projected to be €3,860 million. This forecast remained unchanged in the Summer Economic Statement 2021 (SES). The SES projected a 2022 Exchequer deficit of...

Written Answers — Department of Finance: Vehicle Registration Tax (27 Jul 2021)

Paschal Donohoe: The yield collected through Vehicle Registration Tax in 2020 was €751m. Revenue has advised me that its Annual Report for 2020, which is available at link: www.revenue.ie/en/corporate/press-office/annual-report/2020/ ar-2020.pdf, provides in Table 2 on page 83, the total net receipts for all taxes, which may be of interest to the Deputy.

Written Answers — Department of Finance: Tax Data (27 Jul 2021)

Paschal Donohoe: I am advised by Revenue that the most recent data on the annual cost and the number of claimants of the Knowledge Development Box (KDB) are published on page 17 of Revenue’s paper on 2020 Corporation Tax payments and 2019 Corporation Tax returns. The paper provides the figures in respect of number of claimants and tax cost for the years 2016 to 2019, and is available at...

Written Answers — Department of Finance: Tax Data (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 424 and 449 together. The yield from Stamp Duty on transactions in shares, stocks and marketable securities is published at link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/receipts/receipts-stamp-duty.aspx. This information is not separately available in relation to Irish incorporated companies only. The Revenue Ready Reckoner, which...

Written Answers — Department of Finance: Tax Data (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 425 to 427, inclusive, together. Information relating to the various reliefs and exemptions are set out in the links below. The Deputy should be aware that some of the measures contained in the links are not exclusive to property owners, landowners and developers. It should also be noted that some are no longer available to new claimants. The figures set out...

Written Answers — Department of Finance: Job Creation (27 Jul 2021)

Paschal Donohoe: I am informed by the National Treasury Management Agency, which manages the Ireland Strategic Investment Fund (ISIF), that this information can be obtained on the ISIF website at the following link: isif.ie/uploads/publications/FY-2020-Report-including-H1-Eco nomic-Impact-Results_2021-04-26-185152.pdf The data in the report reflects detailed survey data for the six month period up to 30...

Written Answers — Department of Finance: Tax Data (27 Jul 2021)

Paschal Donohoe: The trading profits of companies in Ireland are generally taxed at the standard Corporation Tax rate of 12.5 %. Some of the main features of the current Corporation Tax regime are its simplicity and that it applies to a broad base. Changing this rate (or imposing additional levies on corporate profits) would involve increased complexity and could change the attractiveness of Ireland's...

Written Answers — Department of Finance: Tax Data (27 Jul 2021)

Paschal Donohoe: I am informed by Revenue that the yield from Local Property Tax (LPT) for 2022 under the revaluation approach set out in the Finance (Local Property Tax) (Amendment) Act 2021 is provisionally estimated to be €560 million (before any Local Adjustment Factors are applied). These yields expected to arise in future years from the forthcoming revaluation of liable properties would be lost...

Written Answers — Department of Finance: Trade Data (27 Jul 2021)

Paschal Donohoe: I am informed by the Central Bank that, based on data reported to it by regulated entities, in 2020 there were approximately 52 million equity transactions by Irish and non-Irish firms on Irish venues (to include equity transactions that took place on bilateral systems operated by investment firms known as systematic internalisers), representing a total quantity of approximately 55 billion...

Written Answers — Department of Finance: Trade Data (27 Jul 2021)

Paschal Donohoe: I am informed by the Central Bank that there is no available data on the volume of derivative contracts that were entered into or traded by Irish counterparties (financial and non-financial) in 2020.