Results 8,301-8,320 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (15 Jun 2021)

Paschal Donohoe: Credit unions in Ireland are regulated and supervised under the Credit Union Act, 1997 (the 1997 Act) and regulations issued by Central Bank, which set out the framework for the registration, regulation and operation of credit unions. Board of directors Sections 53-57 of the 1997 Act set out the relevant legislative provisions relating to the directors of credit unions. The process for the...

Written Answers — Department of Finance: Fiscal Policy (15 Jun 2021)

Paschal Donohoe: As the Deputy is aware, the fiscal rules have been an integral part of the European economic governance framework for a number of decades, dating back to the adoption of the Stability and Growth Pact (SGP) in 1997. This framework has evolved significantly over the past two decades, particularly following the economic and fiscal crisis, which saw the rules strengthened through the adoption of...

Written Answers — Department of Finance: Vacant Properties (15 Jun 2021)

Paschal Donohoe: I consider that the primary objective of a vacant residential property tax or levy would be to increase the supply of homes for rent or purchase to meet demand rather than increasing tax revenues. However, before introducing such a tax it is of course important to have a sound understanding of the quantity, locations and characteristics of long term vacant dwellings, and the reasons why they...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Jun 2021)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) was legislated for under the Financial Provisions (Covid-19) (No. 2) Act 2020. On 1 June last, the Government announced an extension of the scheme and full details will be published in forthcoming legislation. The EWSS is an enterprise wide support available to employers of businesses impacted by Covid-19. The current eligibility criteria for EWSS...

Written Answers — Department of Finance: Insurance Industry (15 Jun 2021)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard, including the management of branch networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard, including the management of branch networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The...

Written Answers — Department of Finance: Tax Reliefs (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 319, 320, 321, 322, 323, 324, 325 and 326 together. Section 473A of the Taxes Consolidation Act 1997 provides for income tax relief in respect of qualifying tuition fees paid by an individual for a third level education course, including a postgraduate course. The relief is granted at the standard rate of income tax (currently 20%), where an individual pays...

Written Answers — Department of Finance: National Asset Management Agency (15 Jun 2021)

Paschal Donohoe: The Deputy will be aware that, under sections 99 and 202 of the NAMA Act 2009, NAMA is unable to divulge confidential information regarding NAMA debtors or their assets, or commercial transactions in which they are involved. Notwithstanding these statutory and legal limitations, I am advised by NAMA that there have been limited sales of loans and assets to one of the three named parties....

Written Answers — Department of Finance: State Bodies (15 Jun 2021)

Paschal Donohoe: The following is the situation in relation to the position of Chief Executive Officer and equivalent of public bodies and publicly funded bodies under the aegis of my Department: The Office of the Comptroller and Auditor Generalhas three Directors of Audit, all of whom are appointed to positions following an open Top Level Appointments Commission (TLAC) competition. The Comptroller and...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: As the Deputy may be aware, Ireland is the only country in the EU which applies a zero rate of VAT to the vast majority of period products. This was the rate that applied in 1991 and we have been able to maintain that rate under the provisions of the EU VAT Directive that allow for a zero rate to be maintained if it applied on and from 1 January 1991. Period products with a zero rate of VAT...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

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. Under domestic legislation, professional medical care services recognised as such by the Department of Health are exempt from VAT. Professional medical care services recognised by the Department of Health are generally those medical care services supplied by health...

Written Answers — Department of Finance: Tax Data (15 Jun 2021)

Paschal Donohoe: The provisions of the Double Taxation Treaty between Ireland and Israel apply to persons, including companies, who are resident of either Contracting State or both as defined by the Treaty. Benefits under the Treaty are only extended by one State to a resident of the other State and with respect to income arising in either State. Persons not so resident and sources of income not from within...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. The EU VAT Directive provides for particular categories of goods and services where a Member State may apply a lower rate or exemption from VAT. Under Irish legislation, the supply of a range of medical equipment and appliances – which include invalid...

Written Answers — Department of Finance: National Asset Management Agency (15 Jun 2021)

Paschal Donohoe: As Minister for Finance I have no role in respect of NAMA’s commercial operations. The Deputy will be aware that NAMA does not typically own or sell property, rather NAMA owns loans for which the properties act as security. I am advised that the properties to which the Deputy refers are controlled by an appointed Receiver, who has responsibility for the management and sale of such...

Written Answers — Department of Finance: Tax Yield (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 334, 339 and 340 together. I am advised that Revenue uses a European standard classification system, known as ‘NACE’ to categorise the economic activities or sectors of taxpayers. In the NACE system, dog breeding or dog selling are not separately categorised. In addition, these types of operations are often part of wider economic activities...

Written Answers — Department of Finance: Departmental Funding (15 Jun 2021)

Paschal Donohoe: I am advised by Revenue that it has no plans to purchase additional backscatter vans and that the current deployment of 1 such van and 3 mobile container scanners meets its operational needs. However, the requirement is kept under continuous review, having regard to ongoing risk evaluation and evolving operational needs.

Written Answers — Department of Finance: Official Engagements (15 Jun 2021)

Paschal Donohoe: On her appointment to Secretary of the US Treasury in the new Biden Administration, I wrote a letter of congratulations to Janet Yellen. Subsequently, and in my capacity as President of the Eurogroup, I participated in a number of virtual meetings of G7 Finance Ministers and Central Bank Governors, in which Secretary Yellen and Jerome Powell, Chair of the Federal Reserve, also participated. ...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: As the Deputy will be aware, at present, if your goods have a customs value (including cost, transport, insurance and handling charges) of €22 or less, you will not have to pay VAT . However this limit applies to the whole consignment, not just one item. Any businesses relying on imports from outside the EU would only be affected by the upcoming change in cases where a consignment they...

Written Answers — Department of Finance: Departmental Expenditure (15 Jun 2021)

Paschal Donohoe: I can inform the Deputy that the expenditure incurred by my Department on travel and subsistence from 1 January 2020 to date was €325,520 The provision of this expenditure is used to cover the costs incurred by Officers, the Minister and Minister of State of the Department while on Departmental business. This may include: - Involvement in EU activities generally, including ECOFIN...