Results 8,021-8,040 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (19 Oct 2021)

Paschal Donohoe: The retail financial services sector is undergoing a major period of change.  This year so far we have seen several major announcements including the withdrawal of Ulster Bank by NatWest and the potential withdrawal of KBC Bank Ireland, the closure of a large number of bank branches by Bank of Ireland and a smaller number by AIB. Decisions in this regard, including the management of...

Written Answers — Department of Finance: Customs and Excise (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the Automated Import System (AIS), Revenue’s new import system, is fully operational since 23 November 2020. The system has handled over 13 million import declarations since it went live in November.  There are currently 94,528 businesses who have registered for Customs and have an active Irish Economic Operators Registration and Identification (EORI)...

Written Answers — Department of Finance: Insurance Coverage (19 Oct 2021)

Paschal Donohoe: As the outset, let me state neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive). While NCT policy is the responsibility of the Minister for...

Written Answers — Department of Finance: Vehicle Registration Tax (19 Oct 2021)

Paschal Donohoe: Vehicle Registration Tax (VRT) is a tax chargeable on the registration of vehicles in the State and is levied as a percentage of the open market selling price (OMSP) of the vehicle. The VRT rate is calculated on the basis of CO2 emissions, so that cars with higher CO2 emissions attracted a higher tax liability. VRT does not apply to second-hand vehicles unless they are imported from...

Written Answers — Department of Finance: Revenue Commissioners (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that it operates three mobile container x-ray scanners and one x-ray backscatter van which are sufficient to meet its operational needs. A tender process is currently underway and funding is in place to replace one of the mobile container scanners which is at end of life. Revenue keeps its operational requirements under continuous review, having regard to...

Written Answers — Department of Finance: Legislative Measures (19 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government includes a commitment to introduce a Senior Executive Accountability Regime (SEAR). The SEAR is a key element of the Individual Accountability Framework Bill and will drive positive changes in terms of culture, greater delegation of responsibilities, and enhanced accountability while simplifying the taking of sanctions against...

Written Answers — Department of Finance: EU Funding (19 Oct 2021)

Paschal Donohoe: The EU taxonomy for sustainable activities being developed at present is a harmonised classification system for environmentally sustainable economic activities. The Taxonomy will have a significant role in supporting the mobilisation of capital towards sustainable investments through providing common definitions to companies, investors and policymakers on what constitutes an...

Written Answers — Department of Finance: Tax Reliefs (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the latest costs available for the Special Assignee Relief Programme (SARP) can be found in the 2019 SARP report which is published on the Revenue website and as part of the Budget 2022 Tax Expenditures Report on the Government's Budget 2022 website. The cost of SARP for 2018 and 2019 (the latest year for which data are available), can be found below: ...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 370 and 383 together. As part of the Government’s response to Covid-19, Budget 2021 brought the VAT rate for Hospitality and Tourism related services and goods down from 13.5% to 9%. This was initially planned for 14 months, from 1 November 2020 to 31 December 2021. This was then extended to 31 August 2022 in recognition of the difficulties facing...

Written Answers — Department of Finance: Tax Credits (19 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, in my Budget 2022 speech, I announced that I propose to introduce  a tax disregard in respect of personal income received by households who sell residual electricity that they generate back to the grid, in the forthcoming Finance Bill.  The amount of the disregard will be set at €200.  This figure should ensure that most participants will pay...

Written Answers — Department of Finance: Credit Unions (19 Oct 2021)

Paschal Donohoe: The Central Bank have informed me that they cannot comment on the position regarding individual credit unions. However, the Central Bank have informed me that in relation to distributions to members, which can take the form of payment of dividends and/or loan interest rebates, credit unions must comply with specific requirements set out in the Credit Union Act, 1997 (the 1997...

Written Answers — Department of Finance: Credit Unions (19 Oct 2021)

Paschal Donohoe: The credit union sector pays four material levies and charges. Three of these levies – Deposit Guarantee Scheme, Resolution and Stabilisation – are used to build up funds that are available to protect member’s savings. The fourth levy is an Industry Funding Levy set by the Central Bank to offset the cost of regulation. Industry Funding Levy Since 2004, the amount of the...

Written Answers — Department of Finance: Fuel Sales (19 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 374, 375 and 376 together. Solid fuel (coal and peat) is liable to excise duty in this jurisdiction in the form of Solid Fuel Carbon Tax (SFCT). SFCT is a national excise and applies at different rates to four categories of solid fuel including coal, peat briquettes, milled peat and other peat. The SFCT rate on coal, currently €88.23 per tonne,...

Written Answers — Department of Finance: Departmental Offices (19 Oct 2021)

Paschal Donohoe: I wish to advise the Deputy that no new office space has been procured, purchased or rented by my Department. The matter of securing office accommodation is the responsibility of the Office of Public Works. With regard to office equipment for my Department in the past 10 years, to date, such expenditure amounts to some €0.95m. This relates to furniture-related items only and the...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was introduced on 26 March 2020 and it replaced the Employer Covid-19 Refund Scheme. The TWSS closed at the end of August 2020 when it was replaced by the Employment Wage Subsidy Scheme (EWSS) with effect from 1 September 2020. I am advised by Revenue that since June of last year, a programme of compliance checks on employers who participated in...

Written Answers — Department of Finance: Gambling Sector (19 Oct 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is provided for by Section 11 of the Finance Act 2020 and is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities the profits of which are chargeable to tax under Case 1 of Schedule D. The trade must also be carried on from a business premises that is located in a region subject to...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: I am assuming that this question is referring to consanguinity stamp duty relief, as set out in Schedule 1 (under Conveyance or Transfer) of the Stamp Duties Consolidation Act 1999. The consanguinity stamp duty relief, as currently constituted, provides, under certain conditions, for a 1% rate of stamp duty to be applicable where a transfer of agricultural land (by sale/purchase, exchange or...

Written Answers — Department of Finance: Tax Reliefs (19 Oct 2021)

Paschal Donohoe: I am advised by Revenue that the latest costs available in relation to the Donation of Heritage Items can be found in the Cost of Tax Expenditures report which is published on the Revenue website ().  The tax credit claimed can be used to offset liabilities in respect of Income Tax, Corporation Tax, Capital Gains Tax or Capital Acquisitions Tax. However, a breakdown, by individual...

Written Answers — Department of Finance: Tax Code (19 Oct 2021)

Paschal Donohoe: As part of this year's Budget, I announced that the current concessional tax arrangements for working from home will be enhanced and formalised into legislation from 2022 onwards. An Income Tax deduction is proposed amounting to 30% of the cost of vouched expenses for electricity, heating and internet services for days spent working from home for remote workers. By way of background...

Seanad: Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Second Stage (14 Oct 2021)

Paschal Donohoe: The purpose of this legislation is to seek the approval of the Oireachtas to ratify two amending agreements agreed by the Eurogroup last November, with the objective of strengthening the crisis resolution capabilities of the euro area. In summary, the two amending agreements provided for the reform of the European Stability Mechanism, ESM, as well as the introduction of the common backstop...