Results 8,241-8,260 of 33,175 for speaker:Paschal Donohoe

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

Paschal Donohoe: I am aware of recent media report regarding a publication concerning the tax arrangements of an individual taxpayer. From the outset, I must state that it is not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. I am informed by the Revenue Commissioners that Revenue uses a range of resources to identify instances of tax avoidance, which would...

Written Answers — Department of Finance: Tax Data (22 Sep 2021)

Paschal Donohoe: The 80% cap on capital allowances for intangible assets was re-introduced in Finance Act 2017 and it applies to all intangible assets on-shored from 11 October 2017. The cap only affects the timing of relief in the form of capital allowances and related interest expenses for intangible assets and does not affect the overall quantum of relief. This is because any amounts restricted in one...

Written Answers — Department of Finance: Cybersecurity Policy (22 Sep 2021)

Paschal Donohoe: I wish to confirm to the Deputy that my Department’s IT Infrastructure has a breadth of infrastructure monitoring in place and provides a 24/7 service, however for operational security reasons, my Department is not in a position to provide further details of its cyber security systems as it would be inappropriate to disclose information that may in any way assist those with malicious...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that a tentative estimate on the cost of reducing VAT on residential electricity supply based on the current Ready Reckoner would be in the region of €20m.

Written Answers — Department of Finance: Tax Yield (22 Sep 2021)

Paschal Donohoe: I am advised by the Revenue Commissioners that it’s not possible to obtain an exact figure for VAT raised from electricity as traders are not required to identify specific activities on their VAT returns. However, they do compile estimates based on the most recently available CSO / SEAI data. Below are estimates for the VAT yield for 2019 and 2020; 2019 - 224 (€m estimate) 2020...

Written Answers — Department of Finance: Flexible Work Practices (22 Sep 2021)

Paschal Donohoe: I wish to indicate to the Deputy that Departments and Offices are currently working in line with Government COVID-19 guidance, which provides for home working to continue where possible. My Department is an active participant on the interdepartmental working group that is developing a central policy framework for Blended Working in the Civil Service. It is expected that this will be...

Written Answers — Department of Finance: Flexible Work Practices (22 Sep 2021)

Paschal Donohoe: The following is the position in relation to those bodies under the aegis of my Department that have employees: The Central Bank of Ireland, which also provides staffing and facilities for the Investor Compensation Company DAC, is continuing to evolve its ways of working so that it is a fulfilling workplace for its staff and an effective organisation that can deliver on its mandate in the...

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

Paschal Donohoe: The temporary wage subsidy scheme (TWSS) closed at the end of August 2020, and I am advised that Revenue has been carrying out a programme of compliance checks on all employers who participated in the TWSS scheme to confirm eligibility and that the supports were properly paid out to qualifying employees. Revenue has confirmed that to date, compliance checks have been completed in respect of...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2021)

Paschal Donohoe: Finance Act 2008 introduced the Accelerated Capital Allowance (ACA) scheme for Energy Efficient Equipment (EEE). The scheme provides a tax incentive for companies and sole traders who invest in highly EEE. The ACA scheme allows taxpayers to deduct the full cost of expenditure on eligible equipment from taxable profits in the year of purchase. This differs to the standard treatment of capital...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 35 to 37, inclusive, together. I am advised by Revenue that the cost of tax relief on pension contributions for the years 2004 to 2018 (the latest year currently available) are available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf. For 2018 the published items in relation to pension...

Written Answers — Department of Finance: Tax Reliefs (22 Sep 2021)

Paschal Donohoe: Section 118(5A) of the Taxes Consolidation Act (TCA 1997) provides an exemption from benefit-in-kind (BIK) where an employer purchases a travel pass for an employee. Under section 118B TCA 1997 an employer and employee may also enter into a salary sacrifice arrangement under which the employee agrees to sacrifice part of his or her salary, in exchange for a travel pass. Where a travel pass is...

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

Paschal Donohoe: I propose to take Questions Nos. 39 to 42, inclusive, together. I am aware of recent media report regarding a publication concerning the tax arrangements of an individual taxpayer. From the outset, I must state that it is not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. I am informed by the Revenue Commissioners that Revenue uses a range of...

Written Answers — Department of Finance: Tax Data (22 Sep 2021)

Paschal Donohoe: Section 11 of the Finance (Local Property Tax) Act 2012 (as amended) sets out the rules used to determine the ‘liable person’ of a residential property for LPT purposes. Generally, the ‘liable person’ is the owner of the residential property on the basis that he or she has the right to immediate possession or is entitled to receive the rent where occupied by a...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: To go back to the issue the Deputies' touched on a moment ago, Deputy Carroll MacNeill made the point about the financial services sector. It is the case that many companies in the services sector have become more profitable and more successful during this period. In the context then of working from home and the additional costs of that, this is an issue employers and employees need to work...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 10, 35, 38 and 56 together. I thank the Deputies for their questions. I am advised by Revenue that, while working remotely does not entitle PAYE workers to a specific tax credit, a combination of legislative provisions and administrative practices provide relief for remote workers who incur certain expenditure in the performance of the duties of their...

Ceisteanna Eile - Other Questions: Remote Working (21 Sep 2021)

Paschal Donohoe: Always, a Cheann Comhairle. However, we have to ensure that the ambition of today is also affordable tomorrow. This is a matter that the Government Deputies at least are aware of. I am aware of the importance of how we support the move to working away from the office. Deputy Moynihan made an important point that I will consider, and I thank him for raising it. Regarding the...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: At the conclusion of this process, it will be appropriate for me to give a broader perspective on the work that has happened in the OECD, in the European Union and elsewhere in pursuit of our objectives regarding corporate tax policy and the stability of the rate. This is a project that has been going on for a number of years. It is one in which I have been totally involved. We will get...

Ceisteanna Eile - Other Questions: Tax Code (21 Sep 2021)

Paschal Donohoe: I would say briefly to Deputy Nash, if I may, that if I had entered the agreement earlier in the process a question that Irish industry and the Dáil would be putting to me is, what I believe the rate will be in the future. As long as it is described as at least 15%, that certainty is not there.

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 9 and 13 together. This is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of income tax and deposit interest retention tax, DIRT, paid in the State over the previous four years, subject to certain limits. The scheme was enhanced in 2020 as part of the July...

Ceisteanna Eile - Other Questions: Housing Schemes (21 Sep 2021)

Paschal Donohoe: If I may begin with Deputy Connolly, the value of the tax strategy group paper is it lays out different options that the Government can consider in the run-up to the budget. At this point, I cannot indicate the future of the scheme because the Government has not made a decision on it. It will be made on budget day. I note what the tax strategy group papers stated about the need for a more...