Results 8,461-8,480 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: As committed to in the 2020 Programme for Government, Government is prioritising reform of the insurance sector with particular emphasis on motor, public liability, and employer liability insurance. The whole-of-Government approach being taken through the Action Plan for Insurance Reformtherefore sets out 66 actions which aim to improve both the cost and availability of this key financial...

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: This Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups. In this regard, the Action Plan for Insurance Reformsets out 66 actions across a number of policy areas. As the Deputy may be aware, the Government recently published the first Action Plan Implementation Report, which shows that work is progressing well to...

Written Answers — Department of Finance: Tax Data (27 Jul 2021)

Paschal Donohoe: I am informed by Revenue that the estimated cost of Medical Insurance Relief is included in the ‘Costs of Tax Expenditures Publication’(Credits, Allowances and Reliefs), which is available at link: . For the convenience of the Deputy, the publication states that the cost of Medical Insurance Relief in 2018 was €355.7m and over 1.25m taxpayers claimed this relief. The...

Written Answers — Department of Finance: Banking Sector (27 Jul 2021)

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation...

Written Answers — Department of Finance: Electric Vehicles (27 Jul 2021)

Paschal Donohoe: In Finance Act 2019 I legislated for a CO2-based benefit-in-kind (BIK) regime for company cars from 1/1/2023. From that date the amount taxable as BIK remains determined by the car’s original market value (OMV) and the annual business kilometres driven, while new CO2 emissions-based bands will determine whether a standard, discounted, or surcharged rate is taxable. The number of...

Written Answers — Department of Finance: Tax Avoidance (27 Jul 2021)

Paschal Donohoe: I am advised by Revenue that, of the 517 Notices of Opinion issued by Revenue under section 811 of the Taxes Consolidation Act 1997, 72 are still under enquiry. Of the 445 Notices finalised, 12.4% (55 Notices), resulted in a settlement with Revenue which included additional tax. I understand that of the 445 notices finalised, 85.2% (379 notices), were withdrawn resulting in a nil yield...

Written Answers — Department of Finance: Tax Avoidance (27 Jul 2021)

Paschal Donohoe: I am advised by Revenue that there is no provision in the legislation to impose penalties or other consequences on professional advisors involved in advising or implementing transactions in respect of which Revenue issue a Notice of Opinion under the general anti-avoidance legislation in section 811 of the Taxes Consolidation Act (TCA) 1997, or an assessment under section 811C of the TCA...

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has prioritised insurance reform. While neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, I can assure the Deputy that this Government is committed to improving the...

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: I am very conscious of the difficulties facing some sectors, including those such as the forestry sector, with regard to the affordability and availability of insurance cover. It should be noted at the outset that neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a...

Written Answers — Department of Finance: Tax Yield (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 305 and 306 together. Revenue publishes detailed statistics on Local Property Tax (LPT), through quarterly and end of year updates on its website at: Among other information, these statistics include the amount of LPT collected by each Local Authority in each year since 2013 and for the first two quarters of 2021.

Written Answers — Department of Finance: Tax Code (27 Jul 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The cost of the scheme in 2020, excluding motor tax, was €67m. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to...

Written Answers — Department of Finance: Summer Economic Statement (27 Jul 2021)

Paschal Donohoe: Budget 2021 introduced a reduction in the rate of VAT for the hospitality and tourism sector from 13.5 per cent to 9 per cent. This measure was, initially, to provide support from November 2020 to end-2021. In recognition of the continuing challenges facing the sector as a result of the pandemic and the necessary public health restrictions, the Government announced in theEconomic Recovery...

Written Answers — Department of Finance: Summer Economic Statement (27 Jul 2021)

Paschal Donohoe: I refer the Deputy to table 4 of the Summer Economic Statement 2021 (SES) which provides a breakdown of temporary versus permanent voted expenditure. The expenditure rule outlined in the SES – which fixes the growth rate of expenditure at trend growth until the mid-part of the decade – refers only to permanent voted expenditure. The Covid-related measures as outlined in table 2...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jul 2021)

Paschal Donohoe: The 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. Details of CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as set out in the legislation, have been published on the...

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: At the outset, it is important to note that neither the Minister for Finance, nor the Central Bank of Ireland, has any influence over the pricing or provision of insurance products, as this is a commercial matter assessed on a case-by-case basis. This position is reinforced by the EU legislative framework for insurance (the Solvency IIDirective). Furthermore, I cannot comment on individual...

Written Answers — Department of Finance: Tax Reliefs (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 312, 454, 611 and 643 together. An Independent Working Group to examine the issue of defective housing has been established and will publish a report on their findings. Officials from my Department participate in this Working Group. The objectives of the group are to identify the scope of relevant significant defects in housing, to evaluate the scale of...

Written Answers — Department of Finance: Primary Medical Certificates (27 Jul 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The cost of the scheme in 2020, excluding motor tax, was €67m. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also...

Written Answers — Department of Finance: Tax Appeals Commission (27 Jul 2021)

Paschal Donohoe: It is assumed that the Deputy is referring to the proposal by the Chairperson of the Tax Appeals Commission (TAC) for a new tiered structure of Appeal Commissioners. It has become clear since the establishment of the TAC that there is a significant range in both the value and complexity of the appeals received by the TAC and, in March of this year, the TAC Chairperson submitted a...

Written Answers — Department of Finance: Tax Code (27 Jul 2021)

Paschal Donohoe: I am advised by Revenue that, for the purposes of Capital Acquisitions Tax (“CAT”), the relationship between the person who provides a gift or inheritance (the disponer) and the person who receives it (the beneficiary) determines the lifetime tax-free threshold (“Group Threshold”) below which CAT does not arise. There are three separate Group thresholds based on...

Written Answers — Department of Finance: Insurance Industry (27 Jul 2021)

Paschal Donohoe: As the Deputy will be aware, neither I, nor the Central Bank, have any influence over the pricing of insurance products, nor can we compel any insurer operating in the Irish market to provide refunds to their customers, as this is a commercial matter. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive) which expressly prohibits Member States...