Results 8,041-8,060 of 33,175 for speaker:Paschal Donohoe

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

Paschal Donohoe: I thank the Acting Chairperson and I thank the Senators for their contributions. I wish to emphasise the two overriding objectives of this legislation in my concluding comments. The first one is the priority of trying to ensure that if there is a further banking difficulty, the taxpayer is protected from that, and the money that the banking sector contributes into what will eventually become...

Written Answers — Department of Finance: Tax Code (14 Oct 2021)

Paschal Donohoe: The flat rate expense (FRE) regime is operated by Revenue on an administrative basis. It applies where both a specific commonality of expenditure exists across an employment category and the statutory requirement for the tax deduction as set out in section 114 Taxes Consolidation Act (TCA) 1997 is satisfied, namely, that the expenses are wholly, exclusively and necessarily incurred in the...

Written Answers — Department of Finance: Community Employment Schemes (14 Oct 2021)

Paschal Donohoe: The issue to which the Deputy's question refers is one for the Minister for Social Protection in the first instance. However, I can confirm that I have been consulted in relation to the matter and I stand ready to engage in a positive way when further progress has been made between the parties directly involved.

Written Answers — Department of Finance: Financial Services (14 Oct 2021)

Paschal Donohoe: Since the Covid-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are or were economically impacted by the pandemic. In relation to the issue of persons that availed of pandemic unemployment payments and as a result were placed in a position that they were required to restructure credit...

Financial Resolutions 2021 - Financial Resolution No. 2: General (Resumed) (13 Oct 2021)

Paschal Donohoe: It is 8,000 ha.

Written Answers — Department of Finance: Tax Reliefs (13 Oct 2021)

Paschal Donohoe: Stamp duty relief for young trained farmers provides for a total exemption from stamp duty (currently 7.5%) on either the transfer by gift, or purchase, of farmland (and associated buildings) where the recipient is a trained farmer under the age of 35 and meets other specified criteria. It is legislated for in Section 81AA on the Stamp Duties Consolidation Acts 1999 (SDCA 1999), titled...

Written Answers — Department of Finance: Tax Reliefs (13 Oct 2021)

Paschal Donohoe: In accordance with my Department's Tax Expenditure Guidlines, generally speaking, tax measures are usually extended for a three-year period at any one time. As the Deputy will be aware, I announced in the Budget yesterday that the various stock relief measures are to be extended in Finance Bill 2021. Section 666 of the Taxes Consolidation Act (TCA) 1997, which provides that the amount...

Written Answers — Department of Finance: Insurance Industry (13 Oct 2021)

Paschal Donohoe: I note that the details supplied by the Deputy refers to a situation involving motor trade insurance, which I understand is not a standard private motor insurance policy. 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...

Written Answers — Department of Finance: Vehicle Registration Tax (13 Oct 2021)

Paschal Donohoe: As noted in my response to the Deputy on 9thSeptember in PQ 42112/21, the Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. Details of these reliefs and the grant in respect of fuel usage are available on the Revenue website. The relief from Value...

Written Answers — Department of Finance: Tax Reliefs (13 Oct 2021)

Paschal Donohoe: The research and development (R&D) tax credit allows a company to claim a 25% tax credit in respect of expenditure incurred on qualifying R&D activities. In making a claim for the R&D tax credit, companies must satisfy two tests: the activity must be a qualifying activity (a science test) and the amount of the claim must be based on R&D expenditure incurred (an...

Written Answers — Department of Finance: Departmental Data (13 Oct 2021)

Paschal Donohoe: The Deputy will be aware that I have consistently indicated that there would likely be a significant cost to the Exchequer arising from an agreement reached at the G20/OECD Inclusive Framework on BEPS. Firstly, it should be stressed that there are two pillars to this agreement. Pillar One will see a reallocation of a proportion of profits to the jurisdiction of the consumer. This means...

Written Answers — Department of Finance: Illicit Trade (13 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 113 and 114 together. I am aware that Revenue uses a range of measures to identify and target the smuggling, supply or sale of illicit tobacco products, with a view to disrupting the supply chain, seizing the products and where possible, prosecuting those involved. Revenue’s strategy involves developing and sharing intelligence on a national, EU and...

Written Answers — Department of Finance: Tax Collection (13 Oct 2021)

Paschal Donohoe: Revenue has issued over 1.4 million notices to property owners in recent weeks, setting out what is required to meet Local Property Tax (LPT) obligations for the new ‘valuation period’ (2022 to 2025). This includes approximately 200,000 hard-copy LPT returns to property owners who have not previously availed of the online options. Revenue is also operating an LPT Helpline...

Financial Resolutions 2021 - Budget Statement 2022 (12 Oct 2021)

Paschal Donohoe: For those worried about whether they can own a home or afford their rent, this budget will support you.

Financial Resolutions 2021 - Budget Statement 2022 (12 Oct 2021)

Paschal Donohoe: For businesses looking to the future, this budget will back you. That future, for individuals, for families and for businesses, is based on secure public finances. We make further progress to that goal in this budget. Over the past year and a half we made the right choices at the right times. Let us now do that again. I am an optimist by nature. I believe that as we move out from under the...

Financial Resolutions 2021 - Budget Statement 2022 (12 Oct 2021)

Paschal Donohoe: -----although it is not the only one and will not deliver the required emissions reductions on its own.

Financial Resolutions 2021 - Budget Statement 2022 (12 Oct 2021)

Paschal Donohoe: We have seen challenges around energy supply and prices. The Government is conscious of how this will impact on our most vulnerable. That is why new moneys raised in this change will be invested in targeted social welfare initiatives to prevent fuel poverty and ensure a just transition.

Financial Resolutions 2021 - Budget Statement 2022 (12 Oct 2021)

Paschal Donohoe: It is why the additional revenue from carbon tax will be used to invest in a socially progressive national retrofitting programme. The 2019 climate action plan recommended the development of "an enabling framework for micro-generation which tackles existing barriers and establishes suitable supports within relevant market segments". To that end, I am proposing a modest tax disregard in...

Financial Resolutions 2021 - Budget Statement 2022 (12 Oct 2021)

Paschal Donohoe: INTRODUCTION A Cheann Comhairle, the last time I announced a budget in this Chamber, two years ago, none of us could have foreseen that the worst global pandemic in a century awaited. We knew well about the risks associated with Brexit and had prepared for it; we could not have predicted the devastation Covid-19 would leave in its wake. Both events have demonstrated the need for us to...

Written Answers — Department of Finance: Sports Funding (12 Oct 2021)

Paschal Donohoe: The purpose of the Stay and Spend tax credit was to provide targeted support to businesses within the hospitality sector whose operations were likely to be most affected by restrictions. It provided relief direct to the consumer rather than the business. The Stay and Spend tax credit was a demand led tax measure rather than a voted direct expenditure instrument. As the Deputy will...