Results 801-820 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 250, 253, 264 and 275 together. As the Deputies will be aware, in making any decision in relation to VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. All decisions in relation to changes to VAT rates, including the full scope of any reduction,...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 251, 257 and 292 together. The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within those listed in Annex III, in respect of which Member States may apply a...

Written Answers — Department of Finance: Social Welfare Payments (5 Feb 2025)

Paschal Donohoe: It is a general principle of taxation that, in the absence of a specific exemption, income from all sources is, in general, subject to tax. Section 126 (3) (a) and (b) TCA 1997, sets out that amounts paid on foot of illness benefit (other than amounts payable in respect of a qualified child within the meaning of section 2(3) of the Social Welfare Consolidation Act 2005) are deemed to...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: On 22 October 2024, following Government approval. the former Minister published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ - a wide-ranging review of the funds and asset management sector. The terms of reference included review of the taxation regimes for funds, life assurance policies and other related investment products. As part...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. In Budget 2025, the Group A threshold...

Written Answers — Department of Finance: Insurance Coverage (5 Feb 2025)

Paschal Donohoe: As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, this Government remains committed to improving insurance costs and availability for householders, individuals and businesses across Ireland and I would draw your attention to the Programme for Government - Securing...

Written Answers — Department of Finance: Mortgage Interest Rates (5 Feb 2025)

Paschal Donohoe: The Government recognises the difficulties that the increase in interest rates in recent years has caused for some mortgage borrowers. Now that the ECB is reducing official interest rates, the Government expects all mortgage creditors to keep their lending rates under review. Where mortgage rates had in the past increased in line with ECB increases, they should also appropriately adjust...

Written Answers — Department of Finance: Insurance Coverage (5 Feb 2025)

Paschal Donohoe: As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, this Government remains committed to improving insurance costs and availability for householders, individuals and businesses across Ireland. I would draw your attention to the Programme for Government-Securing...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. In Budget 2025, the Group A threshold...

Written Answers — Department of Finance: Tax Data (5 Feb 2025)

Paschal Donohoe: Tax treaties allow for the smooth and regulated taxation of international/trans-national business and investment activities. Ireland’s longstanding tax treaty policy has been to expand, maintain, and enhance Ireland’s tax treaty network to remove barriers and facilitate trade and investment opportunities between Ireland and partner jurisdictions. They provide greater certainty...

Written Answers — Department of Finance: Departmental Policies (5 Feb 2025)

Paschal Donohoe: On 22 October 2024, following Government approval, the former Minister published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ - a wide-ranging review of the funds and asset management sector. The terms of reference included review of the taxation regimes for funds, life assurance policies and other related investment products. As part...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law complies. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of VAT....

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of...

Written Answers — Department of Finance: Tax Reliefs (5 Feb 2025)

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 provides for the Cycle to Work Scheme. This scheme offers an exemption from benefit-in-kind where an employer purchases a bicycle and/or associated safety equipment for one of their employees (or directors) to use, in whole or in part, to travel to work. Associated safety equipment may include items such as helmets, lights, bells, mirrors...

Written Answers — Department of Finance: Policing Co-operation (5 Feb 2025)

Paschal Donohoe: In relation to drug trafficking and the supply of illicit drugs, I am advised that Revenue has primary responsibility for the prevention, detection, interception, and seizure of controlled drugs intended to be smuggled or illegally imported into, or exported from, the State. Revenue’s drugs interdiction strategy supports the Government’s strategic approach to the misuse of drugs...

Written Answers — Department of Finance: Ministerial Responsibilities (5 Feb 2025)

Paschal Donohoe: I wish to advise the Deputy that a briefing document prepared by the Department of Finance was provided to me on my appointment as Minister for Finance. A copy of this document, having regard to the relevant provisions of the Freedom of Information Act 2014, will be available shortly on my Department’s website.

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: I am informed by Revenue that tax compliance programmes are kept under constant review to ensure that they are focused on the areas of greatest risk, including risks from the shadow economy. Challenging shadow economy activity and actively restricting opportunities for deliberate tax and duty evasion continues to be an organisational priority for Revenue. Since 2021, a sectoral shadow economy...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: I propose to take Questions Nos. 270, 271 and 273 together. Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which...

Written Answers — Department of Finance: Tax Code (5 Feb 2025)

Paschal Donohoe: In order to apply a new national excise duty to electronic cigarettes Chapter 1 of Part 2 of Finance Act 2024 legislates for E-liquid Products Tax (EPT). Essentially, e-liquid products are liquids used in e-cigarettes including refill cartridges for refillable devices. Under the new law, EPT will apply to both nicotine-containing and non-nicotine-containing e-liquid products. The taxing...

Written Answers — Department of Finance: Departmental Data (5 Feb 2025)

Paschal Donohoe: Climate finance is a key priority for the Government and for Ireland’s foreign policy. At COP26 in 2021, the Taoiseach announced the goal to provide at least €225 million annually in climate finance to developing countries by 2025. Ireland’s International Climate Finance Roadmap, was published in 2022 setting out pathways as to how this goal could be achieved. The record...