Results 8,161-8,180 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Vehicle Registration Tax (30 Jun 2021)

Paschal Donohoe: I am advised that Revenue’s tax and duty manuals set out the rules, guidelines, procedures, and practices for different areas of activity. They are provided as guidance only and do not seek to provide professional advice or a definitive answer in every case. I am advised that Revenue’s VRT enforcement officers are expected to follow the operational instructions as set out in...

Written Answers — Department of Finance: Vehicle Registration Tax (30 Jun 2021)

Paschal Donohoe: The Revenue Commissioners may, in their discretion, restore goods that have been seized as liable to forfeiture under section 144(2) of the Finance Act 2001. In exercising their discretionary power to restore goods, the Revenue Commissioners may seek such conditions as they deem appropriate including payment of a compromise sum from the owner of the goods. I am advised that Revenue’s...

Written Answers — Department of Finance: Tax Data (30 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 86 to 89, inclusive, together. I am advised by Revenue that the estimated yield generated from a rate of 40% on capital gains made on disposals by individuals with income greater than €400,000, €300,000 and €200,000 is €44m, €63m and €83m per year respectively. This is based on chargeable gains included on Income Tax...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Jun 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable...

Written Answers — Department of Finance: Housing Schemes (29 Jun 2021)

Paschal Donohoe: In relation to the question raised in the details supplied with the Deputy's question, the position is that, as part of the normal course of events, the future of the HTB scheme beyond its current sunset date of 31 December 2021 is a matter that will fall to be considered in the context of Budget 2022 and the subsequent Finance Bill. The Help to Buy (HTB) incentive is a scheme to assist...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Jun 2021)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide enterprise support that provides a flat rate subsidy to qualifying employers based on the numbers of eligible employees on their payrolls. The EWSS replaced the Temporary Wage Subsidy Scheme which ceased on 31 August 2020. To be eligible for EWSS, an employer must have tax clearance for the duration of the scheme and be able to...

Written Answers — Department of Finance: Tax Code (29 Jun 2021)

Paschal Donohoe: Budget 2021 provided for a reduction in the rate of VAT from 13.5% to 9% for Hospitality and Tourism related services and goods. This was a temporary measure to provide support for 14 months from 1 November 2020 to the end 2021. The measure is being extended to 31 August 2022 in recognition of the continuing challenges facing the Hospitality and Tourism sector. While temporary, this...

Written Answers — Department of Finance: Tax Reliefs (29 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the revised capital gains tax (CGT) entrepreneur relief applies to an individual who disposes of qualifying assets, including shares in a qualifying company. Gains on such disposals are charged to CGT at the rate of 10%, subject to a lifetime limit of €1m.Gains in excess of this lifetime limit are subject to the standard rate of CGT, which is currently 33%....

Written Answers — Department of Finance: Banking Sector (29 Jun 2021)

Paschal Donohoe: As the Deputy is aware, the Bank Levy was introduced for the three-year period 2014 to 2016 with the purpose of enabling the banking sector to contribute to economic recovery. In the Finance Act 2016, the Levy was extended until 2021. In order to protect the annual €150 million yield based on the financial institutions DIRT liability, the rate payable has increased from 35% in 2014 to...

Written Answers — Department of Finance: Tax Collection (29 Jun 2021)

Paschal Donohoe: I am informed by Revenue that Local Property Tax (LPT) receipts collected per year since 2013 are set out in the table below. Year Net Receipts €m 2020 482 2019 474 2018 483 2017 476 2016 463 2015 469 2014 ...

Written Answers — Department of Finance: Tax Code (29 Jun 2021)

Paschal Donohoe: Firstly, it is important to stress that the Government believes that it is in everyone’s interest to achieve a sustainable, ambitious and equitable agreement on modernising the framework for international tax to reflect increasing globalisation and digitalisation. Secondly, it is also important to highlight that reform of the international tax rules has been an ongoing process since...

Written Answers — Department of Finance: Tax Credits (29 Jun 2021)

Paschal Donohoe: I am advised by Revenue that payments from the Department of Social Protection are taxable sources of income unless they are specifically exempt from income tax. Both the State Contributory Pension and the State Non-Contributory Pension are chargeable to income tax, but not to Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). The Social Welfare Consolidation Act 2005...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Jun 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable...

Written Answers — Department of Finance: Tax Code (29 Jun 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: Data Centres (29 Jun 2021)

Paschal Donohoe: I am informed by Revenue that, as there is no legal requirement in the tax legislation applying to REITs (namely, Part 25A of the Taxes Consolidation Act 1997) to provide Revenue with details of the types of property a REIT may invest in or develop, Revenue is not in a position to provide the information sought by the Deputy.

Written Answers — Department of Finance: Departmental Correspondence (29 Jun 2021)

Paschal Donohoe: As the details supplied with this question note, a Financial Resolution was passed by the Dáil on 19 May 2021 which provides for a new higher stamp duty rate of 10% where at least 10 residential units (excluding apartments) are acquired by an individual or a corporate entity in any 12-month period. This new measure is ‘triggered’ when a residential unit is acquired on or...

Written Answers — Department of Finance: Insurance Coverage (29 Jun 2021)

Paschal Donohoe: As the Deputy will be aware, the whole-of-Government approach being taken to insurance reform through the Action Plan for Insurance Reform,sets out 66 actions across several Government Department policy areas, including the Department of Finance. The cumulative impact of the implementation of these is intended to improve both the cost and availability of insurance for all groups, particularly...

Written Answers — Department of Finance: Insurance Coverage (29 Jun 2021)

Paschal Donohoe: At the outset, it is important to note that the administration of the scheme underpinning the provision of outdoor hospitality facilities operated by many businesses across the country, including by publicans is the responsibility of the relevant local authorities. These are under the remit of Department of Housing, Local Government and Heritage. Having said that, my Department has been...

Written Answers — Department of Finance: Insurance Coverage (29 Jun 2021)

Paschal Donohoe: As committed to in the 2020 Programme for Government, Government is prioritising reform of the insurance sector with particular emphasis on motor, public, and employer liability insurance. The whole-of-Government approach being taken through the Action Plan for Insurance Reformtherefore sets out 66 actions which aim to improve both the cost and availability of this key financial services,...

Written Answers — Department of Finance: Departmental Policies (29 Jun 2021)

Paschal Donohoe: Section 42 of the Irish Human Rights and Equality Commission Act 2014 places a positive duty on public sector bodies to have regard to the need to eliminate discrimination, promote equality, and protect human rights, in our daily work. Specifically, in my Department this is evident in our strategic planning processes, annual review of the Governance Framework, ongoing training offered to...