Results 8,021-8,040 of 32,527 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: All I am doing is trying to ensure we have the right level of spending in place to make progress on a vital issue for our society, economy and all I serve, which is building more homes, making that money available at the right point and in the right way, and given that this is money we will be borrowing, having a careful plan for how that borrowing will be managed. We will get agreement on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I will deal with the first question raised. Of course we are going to do all we can to try to deliver a significant increase in the building of homes as quickly as we can. I do not need to tell Deputy Durkan about the step back we have taken in home construction due to the impact of Covid-19. This is why trying to open construction in Ireland safely is so important and that is what we are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: It does not but I wish to set out one example to flag one benefit of doing this. Kosovo has double tax agreements with other countries. By virtue of our moving into an agreement with Kosovo, we get consistency versus what is happening with other countries that have double tax agreements with Kosovo. The overall competitiveness benefits are negligible, if any. We are doing this for other...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I will address the point of geography, our size and where we are located. These are issues I regularly raise when I am involved in discussions regarding the competitive status of Ireland and, for example, the contribution that corporate tax has made to it. I assure Deputy Durkan that I regularly and forcefully make this particular argument. However, in the spirit of candour it is also...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: The universality of application is a very important question and one which I cannot answer at the moment. It will be an important issue later in the year. A key issue for all in the OECD process is if an agreement is reached, how will it be enforced and when will it be implemented? That is deeply important. If countries will move, they will do so in an expectation that others are doing so...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: If the Deputy can put her second question to me now, by the time she finishes I might be in a position to answer her first question.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: The impact of double taxation agreements on developing countries is something we are considering at present. As I said earlier, we are engaged in a process of public consultation on this issue. We have engaged with stakeholders and NGOs, some of which have advanced strong views on this. We are considering different submissions and I hope we will be in a position to be able to draw...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I will bear in mind the Deputy's suggestion.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I thank the Chairman for his question. We have changed the Taxes Consolidation Act 1997 by amending sections 8 to 6 of that Act. This is to allow for agreements to be made with countries with non-governmental entities. This has paved the way legally for engagements with a view to seeing whether an engagement or a conclusion is possible with Taiwan. Those discussions are ongoing at the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I will ask my colleagues to share with me the details of other countries we have written to. While they are doing that, I will deal with the Deputy's first question as to why we are dealing with our colleagues in Germany through a protocol. As he will be aware, most of our double tax agreements will be modified using a multilateral convention to implement tax treaty-related measures to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I would love to be in a position such that members of the committee will be able to talk about something they have seen. Similarly, however, I have to ensure that the same right is afforded to members of Government. That is an equal imperative for me. I think the Deputy will understand that I have a duty to brief Government on an economic statement when it is concluded. As soon as I have...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I assume it is, yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Minister for Finance (14 Jul 2021)

Paschal Donohoe: I thank the Chairman. I am very much aware of his interest in the matter. He has raised it with me on a couple of occasions. As I said, that engagement is now happening.

Finance (Local Property Tax) (Amendment) Bill 2021: Second Stage (13 Jul 2021)

Paschal Donohoe: I thank the Deputies for the different points made here this evening. I will respond to some of the questions that were asked and charges made about this tax. Speaker after speaker from Sinn Féin stood up and made the point on one hand that this tax should be abolished and then on the other hand argued that the county they represent does not get enough revenue from the tax they want to...

Finance (Local Property Tax) (Amendment) Bill 2021: Second Stage (13 Jul 2021)

Paschal Donohoe: I move: "That the Bill be now read a Second Time." In my remarks I will briefly outline the background to the introduction of the local property tax, its position in our overall taxation system and why it should be maintained but in a reformed structure. As the introduction of a property tax represented a major structural change in the tax system the local property tax was considered in...

Written Answers — Department of Finance: Housing Schemes (13 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 261 and 274 together. The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section...

Written Answers — Department of Finance: Housing Schemes (13 Jul 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Jul 2021)

Paschal Donohoe: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS) which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. On 1 June, the Government approved the extension of EWSS to 31 December 2021 as a key policy instrument to continue to provide the necessary employment...

Written Answers — Department of Finance: Customs and Excise (13 Jul 2021)

Paschal Donohoe: I am advised by Revenue that where shipments are not green routed on arrival in Ireland, the time taken to resolve the matter is dependent on the specific issue that has given rise to the orange or red routing, the time taken to provide any supporting documentation needed on foot of a request from Revenue or another State agency and whether a physical inspection of the shipment is required....

Written Answers — Department of Finance: Financial Services (13 Jul 2021)

Paschal Donohoe: I am aware of this issue and am conscious of the distress that has occurred in relation to this matter. In the first instance, the Central Bank is the independent regulator for financial services and as such it determines what measures or actions need to be taken in relation to any potential or actual wrongdoing by regulated financial service providers.  The Central Bank has stated that...