Results 7,941-7,960 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Industry (3 Nov 2021)

Paschal Donohoe: At the outset it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products, or have the power to direct insurance companies to provide cover in such circumstances. This position is reinforced by the EU...

Written Answers — Department of Finance: Tax Exemptions (3 Nov 2021)

Paschal Donohoe: The original policy objective of the dwelling house exemption relief was to alleviate the hardship of an inheritance tax liability for a person who inherits a house in which he or she had been living with the deceased and to ensure that the person did not have to sell the house to pay the tax liability. Over time, however, the relief had moved away from its original policy focus, and was...

Written Answers — Department of Finance: Tax Code (3 Nov 2021)

Paschal Donohoe: In Finance Act 2019 I legislated for a CO2-based BIK regime for company cars from 1/1/2023. From that date the amount taxable as BIK remains determined by the car’s original market value (OMV) and the annual business kilometres driven, while new CO2 emissions-based bands will determine whether a standard, discounted, or surcharged rate is taxable. The number of mileage bands is reduced...

Written Answers — Department of Finance: Revenue Commissioners (3 Nov 2021)

Paschal Donohoe: I am advised by Revenue that its telephone Helplines remain operational despite the difficulties encountered from the COVID-19 pandemic. Further details on the Helpline opening hours is available on the 'Contact Us' page of Revenue website, which may be of interest to the Deputy. Revenue has also confirmed that the LPT, PAYE and Self-Assessment Helplines are currently experiencing...

Written Answers — Department of Finance: Greenhouse Gas Emissions (2 Nov 2021)

Paschal Donohoe: As the Deputy will be aware, the Climate Action and Low Carbon Development (Amendment) Bill as enacted in July 2021 includes an interim target for 2030 of reducing greenhouse gases by 51% relative to 2018. The process of drawing up an updated Climate Action Plan, as led by the Minister for Environment, Climate and Communications, to reflect this increase in ambition is underway, with the new...

Written Answers — Department of Finance: Tax Code (2 Nov 2021)

Paschal Donohoe: Local Property Tax (LPT) operates on a self-assessment basis and as such requires relevant residential property owners to comply with their legal requirements even where they have not received a communication from Revenue. This includes determining the market value of the property at 1 November 2021 in respect of the new ‘valuation period’ (2022 to 2025), submitting this...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 244 and 245 together. As the Deputy will be aware, NAMA does not generally own properties, rather NAMA acquired loans for which the properties act as security. Secured properties remain in the ownership and control of their registered owners, or appointed receivers in the event of enforcement. NAMA cannot restrict the sales of properties to specific...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 246, 247, 253, 265 and 266 together. As the deputies may be aware, assets often referred to as "NAMA land" or "NAMA properties" are not owned by NAMA. NAMA owns loans. Such property is owned by private persons or companies who owe money to NAMA (“NAMA debtors”) and serves as collateral for those amounts owed. I am advised that Sections 99 and...

Written Answers — Department of Finance: Banking Sector (2 Nov 2021)

Paschal Donohoe: The Deputy will be aware that as Minister for Finance I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The independence of banks in which the State has a...

Written Answers — Department of Finance: Tax Code (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 249 to 252, inclusive, together. I am advised by Revenue that a tentative estimate of the revenue foregone by exempting: - maternity benefit from income tax is of the order of €45m; - adoptive benefit from income tax is of the order of €0.04m; and - paternity benefit from income tax is of the order of €2.6m. I am advised by Revenue...

Written Answers — Department of Finance: Tax Code (2 Nov 2021)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT legislation with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: Tax Exemptions (2 Nov 2021)

Paschal Donohoe: The Finance (Local Property Tax) Act 2012 (as amended) provides for certain properties to be exempt from LPT during the current valuation period (2013 to 2021) and the next valuation period (2022 to 2025) where they meet certain qualifying conditions. The full list of exemptions that apply for the new valuation period and how they can be claimed is available on the Revenue website. It is...

Written Answers — Department of Finance: Tax Reliefs (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 256 and 257 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: Insurance Coverage (2 Nov 2021)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial services regulation, including for the insurance sector. However, the provision of cover is a separate commercial matter for insurance companies based on an assessment of the risks they are willing to accept. Consequently, neither I nor the Central Bank of Ireland can interfere in the...

Written Answers — Department of Finance: Insurance Industry (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 259 and 260 together. This Government recognises the importance of a stable, well-functioning and competitive insurance industry. Accordingly, the Action Plan for Insurance Reform sets out 66 actions across a number of policy areas which is aimed at reducing volatility in the market, removing barriers to entry and making Ireland a more attractive operating...

Written Answers — Department of Finance: Financial Services (2 Nov 2021)

Paschal Donohoe: I have been advised that the public can consult the Investment Intermediaries’ registers by viewing them on the Central Bank of Ireland’s website (link below). There are two registers for investment intermediaries – one for those intermediaries ‘deemed’ authorised by the Central Bank in July 2001, titled “Register of Investment Business Firms deemed...

Written Answers — Department of Finance: Financial Services (2 Nov 2021)

Paschal Donohoe: The Central Bank has advised that the public can consult the mortgage intermediaries register by viewing it on the Central Bank of Ireland’s website under its Register of Firms section (). The relevant registers are 'Register of Mortgage Intermediaries' and 'Register of Mortgage Credit Intermediaries'. The Central Bank further advises that these registers are generally updated every...

Written Answers — Department of Finance: Tax Code (2 Nov 2021)

Paschal Donohoe: In 2018, the most recent year for which data are available, the Exchequer cost of the Employment Investment Incentive (EII) was €14.5m and 1,137 persons availed of the relief.The €14.5m cost represents less than half the equivalent cost figure for 2016 (€31.7m). Revenue has advised me that it is not possible to identify the number of additional jobs created or...

Written Answers — Department of Finance: Housing Schemes (2 Nov 2021)

Paschal Donohoe: As the Deputy will be aware, in my recent Budget speech, I indicated that Finance Bill 2021 would include a provision extending the Help to Buy scheme for one further year to the end of 2022 and that the scheme will be formally reviewed in the course of 2022. My intention is that the review will be fundamental in nature and, as such, it is likely to encompass all aspects of the scheme.

Written Answers — Department of Finance: Credit Unions (2 Nov 2021)

Paschal Donohoe: The appointment if a Credit Union Advisory Committee (CUAC) is a statutory requirement under section 180 of the Credit Union Act 1997. Under the Minister’s guidance to examine the “people” aspect off the sector, the CUAC chose to prioritise undertaking research with Directors during 2019. This research had a number of purposes: primarily to understand the issues and...