Results 7,961-7,980 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Assets (2 Nov 2021)

Paschal Donohoe: The NTMA have informed me that ISIF has a commitment in Shamrock Renewable Products Limited (a manufacturer of sustainable heating fuel products). ISIF has no current investments in Drax and/or Albioma.

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

Paschal Donohoe: Section 118(5A) of the Taxes Consolidation Act 1997 exempts employees and directors from benefit-in-kind taxation where an expense has been incurred by an employer on the provision of a monthly or annual bus, rail or ferry travel pass for the employee or director. Section 118B provides that the exemption may also apply to bus, rail or ferry travel passes obtained under a salary sacrifice...

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

Paschal Donohoe: The Poolbeg West SDZ Planning Scheme includes a requirement for 25% of the residential units delivered in the SDZ to be reserved for social and affordable housing, comprising 10% Part V social housing and 15% affordable housing. The former glass bottle site located in the SDZ has the potential to provide up to 3,800 residential units (including 25% social and affordable homes) and...

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

Paschal Donohoe: I assume that the Deputy’s Question relates to the guidance published by Revenue in respect of the application of Irish tax residency rules during the COVID-19 pandemic. I am advised by Revenue that an individual’s tax residence depends on the number of days they are present in Ireland during a tax year. Under section 819 of the Taxes Consolidation Act 1997, an individual is...

Written Answers — Department of Finance: Tax Credits (2 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 an additional, short-term, tapered regional...

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. I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses. The Deputy should be aware that the provision of cover is a commercial matter for insurance companies...

Written Answers — Department of Finance: Legislative Measures (2 Nov 2021)

Paschal Donohoe: The Government recently approved the General Scheme of the Insurance (Miscellaneous Provisions) Bill for priority drafting. Subsequently Minister of State, Deputy Fleming wrote to the Chair of the Committee on Finance, Public Expenditure and Reform and the Taoiseach, in relation to pre-legislative scrutiny. Once these elements have been completed, the Bill will be published and will then be...

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

Paschal Donohoe: As the Deputy may be aware, NAMA does not own land in Kildare, rather NAMA acquired loans for which land and other properties act as security. The secured properties are owned and controlled by their registered owners, or appointed receivers, in the event of enforcement. Sections 99 and 202 of the NAMA Act prohibit NAMA from disclosing confidential debtor information, including the...

Written Answers — Department of Finance: Civil Service (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 276 and 278 together. The Deputy will be aware of the requirements of standards and behaviour across the Civil Service in relation to the matters raised in her questions. I can confirm for the Deputy that comprehensive processes have been implemented in my own Department to promulgate these standards and behaviour which include: All staff of the Department...

Written Answers — Department of Finance: Official Engagements (2 Nov 2021)

Paschal Donohoe: The Shareholding and Financial Advisory Division within my Department have regular engagement with the banks in which the state has a shareholding. Likewise the Banking Policy Division also have regular engagement with the retail banks. Davy is on the Department's panel of advisers and therefore the Department is in regular contact with them on general market matters. As part of stakeholder...

Written Answers — Department of Finance: Electric Vehicles (2 Nov 2021)

Paschal Donohoe: In this year's Budget I announced an extension of the BIK exemption for electric vehicles to end 2025, with a tapering mechanism on the vehicle value threshold. The current BIK exemption will continue to apply to 31 December 2022 as currently provided for in the legislation. From 2023, the original market value (OMV) reduction for BIK purposes is progressively phased out until end 2025....

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, including the management of branch networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The...

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

Paschal Donohoe: I am advised by Revenue that no additional taxes are being applied to goods entering Ireland from other Member States so this cannot be the reason why any company would opt not to deliver their goods here. From 1 July 2021, significant changes came into force across the EU in the way VAT operates for cross border business-to-consumer (B2C) e-commerce activities. These changes apply in...

Written Answers — Department of Finance: Fuel Prices (2 Nov 2021)

Paschal Donohoe: The price of petrol and diesel is determined by a number of factors including taxation, the price of the raw materials, the prevailing exchange rates as well as the fact the different wholesalers can enter into forward contracts at different rates for the purchase of oil. The price of fuel on the forecourt is set by the individual retailer and would likely take into account the costs...

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

Paschal Donohoe: Public trust in the banking industry has been badly damaged in recent years, most notably by the tracker mortgage scandal. The Central Bank Tracker Mortgage Examination demonstrated significant consumer harm and failures by mortgage lenders. Over 41,000 customers have been identified as impacted by tracker failures by their lender and over €730m in redress and compensation has been...

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

Paschal Donohoe: With regards to the Deputy's question, officials from my Department reached out to the Central Bank of Ireland and received the following response: "The investigations into Bank of Ireland and AIB are ongoing and the Central Bank cannot comment on specifics of any ongoing investigations. As the investigations were commenced at different times, they will conclude on different timelines."

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

Paschal Donohoe: With regards to the Deputy's question, officials from my Department contacted the Central Bank of Ireland and received the following response: The Central Bank’s enforcement investigations and actions build on the Tracker Mortgage Examination, the largest and most complex consumer protection review the Central Bank has ever undertaken, and further demonstrate our commitment to our...

Written Answers — Department of Finance: Regeneration Projects (2 Nov 2021)

Paschal Donohoe: The Living City Initiative (LCI) was introduced in May 2015. The rented residential element of the LCI was introduced in 2017. The first year for which statistics were collected in respect of applications received is 2016. Under LCI, applications are made to the relevant Local Authority in respect of the owner-occupier and rented residential elements of the scheme; applications to the...

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

Paschal Donohoe: VAT legislation in Ireland as set out in the VAT Consolidation Act, 2010 must comply with the EU VAT Directive. There is no scope in the EU VAT Directive to exempt supplies or services on the basis of charitable status. There is no provision in either European law or Irish VAT law to allow a zero-rating or exemption for supplies of this nature. In recognition of this issue, which...

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

Paschal Donohoe: Council Directive 92/83/EEC, also known as the “Alcohol Structures Directive”, lays down a harmonised approach for the application of excise duties on alcohol and alcoholic beverages in the EU. It sets out the categories of alcohol and alcoholic beverages that fall within scope of taxation and the basis on which excise duties on such products are to be established. Council...