Results 8,181-8,200 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Disabilities Assessments (29 Jun 2021)

Paschal Donohoe: My Department has not had occasion to undertake a Disability Impact Assessment (DIA) to date. My Department carries out Regulatory Impact Analyses (RIAs) of Memoranda where relevant, in accordance with the steps outlined in the Cabinet Handbook. RIAs consider a broad range of impacts and would indicate any identified impact on people with disabilities. Should the requirement arise, my...

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

Paschal Donohoe: At the outset, I wish to acknowledge that the issue of the payment of Capital Acquisitions Tax (CAT) by unmarried cohabitants both in relation to a shared primary residence home and other assets is a complex issue. The starting point for considering this matter is that cohabitants do not have the same legal rights and obligations as a married couple or couple in a civil partnership....

Written Answers — Department of Finance: Tax Rebates (24 Jun 2021)

Paschal Donohoe: I am informed by Revenue that the information provided on VAT returns does not require identification of sales or costs on individual activities or products. Therefore, the amount of VAT paid (or refunded) in relation to any specific activity, such as COVID-19 related health and safety works, is not separately available to estimate the cost requested by the Deputy.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 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 Credits (24 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the tapering out of tax credits on income above €100,000, at a rate of 2.5% per €1,000 of income, such that the taxpayer has no entitlement to credits at an income level above €140,000, would yield an estimated €236 million and €286 million on a first and full year basis respectively. I am further advised by Revenue that...

Written Answers — Department of Finance: Financial Services (24 Jun 2021)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. The Financial Services and Pensions Ombudsman Act 2017 prescribes certain time limits for the making of a complaint to the FSPO about the conduct of...

Written Answers — Department of Finance: Vehicle Registration Tax (24 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 196 and 197 together. Following the withdrawal of the UK from the European Union, an import of a vehicle from Great Britain is treated as an import from a third country, i.e. a non-EU country.  I am advised by Revenue that, if a vehicle is imported from Great Britain into Ireland, the importer is required to complete a customs declaration and pay customs...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (23 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 89 to 92, inclusive, together. The Temporary Wage Subsidy Scheme (TWSS) was in place for 22 weeks between 26 March and 31 August 2020. It was introduced as an emergency income support for eligible employees where the employer’s business activities were negatively impacted by the COVID-19 pandemic. Over 66,600 employers received a subsidy under the TWSS...

Written Answers — Department of Finance: Approved Housing Bodies (23 Jun 2021)

Paschal Donohoe: Since 2018, Approved Housing Bodies (AHBs) have been classified in the General Government sector by Eurostat, the statistical office of the European Union. Consequently, all AHBs revenue and expenditure is classified as general government revenue and general government expenditure while borrowing by the AHBs, from outside the General Government sector i.e. the private sector, will add to the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (23 Jun 2021)

Paschal Donohoe: The rate of Pandemic Unemployment Payment (PUP) payable to individuals is a matter for the Department of Social Protection (DSP). I am advised by Revenue that, regarding taxation, PUP payments are classed as income and as such are liable to tax but not PRSI or Universal Social Charge (USC). In 2020, PUP was taxed at year end rather than in the normal real-time manner due to the urgent...

Written Answers — Department of Finance: Banking Sector (23 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 95 and 97 together. There are certain legal and regulatory requirements which govern the provision of mortgage credit to consumers.  For example, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the...

Written Answers — Department of Finance: Tax Reliefs (23 Jun 2021)

Paschal Donohoe: Tax relief for Trade Union subscriptions was previously provided for under section 472C of the Taxes Consolidation Act 1997. The relief was introduced in 2001 and abolished from 2011 onwards. A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 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: Insurance Industry (22 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 212 and 218 together. The Government is conscious of the difficulties facing owners of thatched properties in relation to affordability and availability of insurance. Having said that, the Deputy will appreciate that, neither I, nor the Central Bank of Ireland, have powers around pricing or provision of insurance cover. These are commercial matters for...

Written Answers — Department of Finance: Pension Provisions (22 Jun 2021)

Paschal Donohoe: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes, which was introduced in Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. The threshold was initially set at €5 million. It was subsequently reduced to €2.3 million with effect from 7 December 2010 and further reduced to €2 million...

Written Answers — Department of Finance: Tax Avoidance (22 Jun 2021)

Paschal Donohoe: Drafting of the legislation to transpose the interest limitation rule or ILR mentioned by the Deputy is ongoing, which makes it difficult to provide a definitive estimate of its likely Exchequer impact. I would also note that the primary purpose of the measure is to improve the robustness of the international corporate tax system as a whole by preventing base-erosion and profit shifting...

Written Answers — Department of Finance: Budget 2021 (22 Jun 2021)

Paschal Donohoe: The net carryover effect into 2022 of taxation measures introduced in Budget 2021 was estimated to be in the region of €0.4 billion.The majority of this figure related to the conclusion of the reduced 9% VAT rate for the tourism sector, which was due to expire at end-2021, with some carryover impact into the following year. As the Deputy will be aware, the Government announced in...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the estimated yield from increasing the Excise on diesel by a range of amounts is shown on page 22 of Revenue’s Ready Reckoner which can be located at the following link: . The yield from a five cent per litre increase is estimated at €137m per annum. Based on the volume of diesel on which claims were received in previous years, the cost of using the...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: The Programme for Government, “Our Shared Future”, states that “from Budget 2022 onwards, in the event that incomes are again rising as the economy recovers, credits and bands will be index linked to earnings. This will be done to prevent an increase in the real burden of income tax, to prevent more low income workers being taken into the tax net because of no changes to...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 Jun 2021)

Paschal Donohoe: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. It provides a flat-rate subsidy to qualifying employers based on the numbers of paid and eligible employees on the employer’s...