Results 8,401-8,420 of 33,175 for speaker:Paschal Donohoe

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

Paschal Donohoe: The Central Bank has informed me, that in responding to this matter, it is first necessary to emphasise that it discharges its mandate on a cross-bank basis and through an integrated organisational structure. The Central Bank’s organisational structure reflects the focus it has on the effective regulation of both domestic and international financial services firms in Ireland. The...

Written Answers — Department of Finance: Customs and Excise (15 Sep 2021)

Paschal Donohoe: I am advised by Revenue that it had no seizures of nitrous oxide in the period from 2015 to 2019. In 2020, Revenue had eight seizures of the product, consisting of 33,600 canisters. To date in 2021, Revenue had five seizures of the product, consisting of 82,200 canisters. Nitrous oxide is not prohibited and has a number of legitimate uses, for example in the food industry.  However,...

Written Answers — Department of Finance: Financial Services (15 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 272, 273, 274 and 275 together. Over the last decade, we have seen a shift in the way consumers and businesses are paying for goods and banking. While historically Ireland has been a relatively cash-intensive economy, significant progress has been made and a rapid increase in the take-up of electronic payments is evident. The Covid-19 pandemic has...

Written Answers — Department of Finance: Financial Services (15 Sep 2021)

Paschal Donohoe: The NTMA have informed me that ISIF publishes bi-annual reporting which contains an update on the status of the operation of the Ireland Strategic Investment Fund, including economic impact reporting.  The latest report available on the ISIF website sets out an ISIF performance update up to the end of June 2021 and incorporates an economic impact report for 2020. The high level messages...

Written Answers — Department of Finance: Research and Development (15 Sep 2021)

Paschal Donohoe: Governments in many countries provide support for research and development (R&D) with the aim of promoting R&D investment in their respective economies. For example the primary policy objective behind the Irish R&D Tax Credit is to increase business R&D in the State, as R&D can contribute to higher innovation and productivity. Support can come in the...

Written Answers — Department of Finance: Research and Development (15 Sep 2021)

Paschal Donohoe: It is assumed the Deputy is referring to payable tax credits in respect of research and development (R&D) expenditure. I am informed by Revenue that the available information in respect of payable tax credits is published in Revenue’s statistics on R&D (see page 4), which is available at  www.revenue.ie/en/corporate/information-about-revenue/statis...

Written Answers — Department of Finance: Financial Services (15 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 279 and 280 together. 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. The Central Bank expects all regulated firms to take a consumer-focused approach and to act in their...

Written Answers — Department of Finance: Student Accommodation (15 Sep 2021)

Paschal Donohoe: With regard to the case referred to by the Deputy, Revenue have informed me that they are bound by taxpayer confidentiality in accordance with Section 851A of the TCA 1997 and cannot provide any information on a specific taxpayer. Accelerated capital allowances for qualifying expenditure incurred on the construction, refurbishment or conversion of student accommodation were provided...

Written Answers — Department of Finance: Legislative Process (15 Sep 2021)

Paschal Donohoe: Please see attached tables in relation to Bills published since 27 June 2020 which were sponsored by my Department, along with details in relation to accompanying Regulatory Impact Assessments (‘RIAs’). There are 9 Bills in the list. RIAs were published on the Department’s website in respect of 2 of those Bills. Screening RIAs were also prepared in respect of a number of...

Written Answers — Department of Finance: Housing Schemes (15 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 283 and 285 together. The Help to Buy (HTB) incentive 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 limits outlined in the legislation....

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

Paschal Donohoe: I can inform the Deputy that the amount paid in late interest payments and penalty payments by my Department in each of the years 2017 to 2020 and to date in 2021 is set out in table A below. Government Departments are required to pay suppliers within 15 calendar days of receipt of a valid invoice as per prompt payment regulations. Where payment exceeds 30 days (or less if agreed payment...

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2021)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying health expenses. Section 469 defines "health expenses" as "expenses in respect of the provision of health care including the services of a practitioner".  A practitioner is defined in the section as "any person who is: 1. registered in the register established under section 43 of...

Written Answers — Department of Finance: Covid-19 Pandemic Unemployment Payment (9 Sep 2021)

Paschal Donohoe: I have a functional responsibility for the regulatory framework governing the provision of residential mortgage credit to consumers by Central Bank regulated entities.  However, I do not have a functional role in the regulation of contracts for the purchase and sale of residential property.  The terms of such contracts which are entered into by the purchasers and sellers...

Written Answers — Department of Finance: Currency Exchange (9 Sep 2021)

Paschal Donohoe: I am advised by the Office of the Revenue Commissioners that Revenue operate a risk-based compliance framework, using advanced analytics in a Risk Evaluation Analysis and Profiling (REAP) system to detect non-compliant behaviour. Risks in relation to crypto assets are included in Revenue’s compliance framework. This analytical approach to taxpayer behaviour and risk is continuously...

Written Answers — Department of Finance: Departmental Staff (9 Sep 2021)

Paschal Donohoe: During the years 2015 to 2020 inclusive, my Department satisfied the 3% target of employing staff with disabilities. My Department is aware of the increase in the target to 6% and is committed to achieving this revised target by 2024. The following table sets out the percentage of employees with a disability for the years 2015 to 2020. The 2020 figure was taken from a census survey...

Written Answers — Department of Finance: Flexible Work Practices (9 Sep 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive scheme was introduced to assist first-time purchasers with a deposit needed to buy or build a new house or apartment. Subject to a maximum repayment amount, HTB takes the form of a repayment of income tax, including DIRT, paid for the four tax years prior to making an application.  A first-time buyer is given the option of selecting all or any of the...

Written Answers — Department of Finance: Financial Services (9 Sep 2021)

Paschal Donohoe: The NTMA have informed me that in line with its double bottom line mandate, ISIF made an investment in Genuity Science. ISIF’s investment was, amongst other things, aimed at supporting the creation of a precision medicine hub in Ireland which it was hoped would have associated benefits to Ireland. ISIF’s role in its investments is that of an investor/shareholder with the day to...

Written Answers — Department of Finance: Tax Collection (9 Sep 2021)

Paschal Donohoe: I am advised by Revenue that receipts for Mineral Oil Tax (MOT) and carbon tax on mineral oils for the years up to year 2019 are published on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/excise/net- receipts-by-commodity.pdf The receipts from MOT and carbon tax for 2020 and to the end of July 2021 are shown in the table below. Please note that the 2021 receipts are...

Written Answers — Department of Finance: Financial Services (9 Sep 2021)

Paschal Donohoe: The normal tax treatment afforded to Irish collective investment funds is that the funds invested are allowed to grow on a tax-free basis within the fund.  The income is taxed at the level of the investor rather than the fund, as is standard international practice. In order to ensure that the appropriate tax is collected from Irish investors, funds are obliged to operate an exit tax...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Sep 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...