Results 8,541-8,560 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: International Agreements (27 Jul 2021)

Paschal Donohoe: The Competent Authority Agreement (CAA) under the Ireland-Malta Double Taxation Convention 2008 records that the Irish and Maltese competent authorities for the purpose of that Convention have agreed that, in relation to the tax avoidance structure outlined in the CAA, the Double Taxation Convention’s deeming of a company – incorporated in Ireland but managed in Malta –...

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

Paschal Donohoe: I can inform the Deputy that the Department of Finance has no record of any funding being allocated to projects or initiatives in County Tipperary in the past 12 months. I wish to note that my response refers only to Department of Finance records and I cannot comment on behalf of other Government Departments.

Written Answers — Department of Finance: Illicit Trade (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 399 and 400 together. I am advised that Revenue uses a range of measures to identify and target the smuggling, supply or sale of illicit tobacco products, with a view to disrupting the supply chain, seizing the products and where possible, prosecuting those involved. Revenue’s strategy involves developing and sharing intelligence on a national, EU...

Written Answers — Department of Finance: Departmental Funding (27 Jul 2021)

Paschal Donohoe: I can inform the Deputy that the Annual Estimate for the Supply Services for each Department sets out the cost of each Departmental function – for which the Dáil is asked to appropriate money by way of a separate Vote – and outlines the set of outputs to be delivered within those functions. The Budget Estimate Volume (October) sets out a formal description of the services...

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

Paschal Donohoe: You may be aware that on 1 July 2021, the OECD Inclusive Framework reached agreement, but not consensus,on key aspects of the two-pillar solution to address tax challenges arising from digitalisation and globalisation. Pillar One proposes a re-allocation of a proportion of tax to the market jurisdiction, while Pillar Two seeks to apply a global minimum effective tax rate. Ireland is...

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

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT legislation with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a...

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

Paschal Donohoe: The standard international measure of economic activity is Gross Domestic Product (hereafter ‘GDP’), which measures the total value of goods and services produced in an economy during a particular period. When the European Council reached agreement on the Multi-annual Financial Framework 2021-2027 and Next Generation EU Recovery Instrument, last July, the Government...

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

Paschal Donohoe: The Deputy will be aware that on 1 July 2021, the OECD Inclusive Framework reached agreement, but not consensus,on key aspects of the two-pillar solution to address tax challenges arising from digitalisation and globalisation. Pillar One proposes a re-allocation of a proportion of tax to the market jurisdiction, while Pillar Two seeks to apply a global minimum effective tax rate. Ireland is...

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

Paschal Donohoe: Revenue publishes weekly statistical updates on the main COVID-19 support schemes, including the Covid Restriction Support Scheme (CRSS). These statistics are available at link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/number-of-taxpayers-and-returns/covid-19-support-scheme s-statistics.aspx. The latest update to the statistics, dated 22 July 2021, shows in...

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

Paschal Donohoe: I propose to take Questions Nos. 410 and 413 together. 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...

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

Paschal Donohoe: I assume that the Deputy is referring to the Digital Levy. In 2020, the European Council invited the European Commission to bring forward a proposal for a digital levy in 2021 in the context of Own Resources to assist in the funding of the EU budget. It is my understanding that it was the intention of the European Commission to bring forward such a proposal this month. However on 12...

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

Paschal Donohoe: My understanding is that the Deputy's question relates to changes to the international tax framework proposed recently at OECD. In this context, you may be aware that on 1 July 2021, the OECD Inclusive Framework reached agreement, but not consensus,on key aspects of the two-pillar solution to address tax challenges arising from digitalisation and globalisation. Pillar One proposes a...

Written Answers — Department of Finance: Brexit Issues (27 Jul 2021)

Paschal Donohoe: The ATA Carnet is an internationally recognised document that you can use to temporarily import or export certain goods into or out of the EU. The carnet is issued in the country from where the goods are exported. You must present the ATA carnet with the goods to customs at the point of exportation and importation. The ATA Carnet is completed and stamped each time the goods leave/re-enter...

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

Paschal Donohoe: I note that the details supplied by the Deputy refers to insurance for a specific organisation. While I recognise the concerns felt by many businesses across various sectors around the cost and availability of insurance cover, I am sure the Deputy will appreciate that neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, nor do we have...

Written Answers — Department of Finance: National Treasury Management Agency (27 Jul 2021)

Paschal Donohoe: It was not possible for the National Treasury Management Agency to provide the information sought in the time available and, therefore, I will make arrangements to provide the information to the Deputy in line with Standing Orders.

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

Paschal Donohoe: The most recent Quarterly Financial Accountsrelease, published by the Central Bank, provides financial data for Q4 2020 for all sectors of the Irish economy. In Q4 2020, household net worth increased by 2.9 per cent on the previous quarter and 6.1 per cent year on year to €855 billion. This was made up of financial assets of €441 billion, housing assets of €557 billion...

Written Answers — Department of Finance: National Treasury Management Agency (27 Jul 2021)

Paschal Donohoe: I propose to take Questions Nos. 419 and 420 together. The large-scale fiscal support required to limit the economic disruption brought about by the COVID-19 pandemic has led to an increase in public indebtedness. To offer a wider picture of Ireland’s debt, the National Treasury Management Agency have provided a response in relation to General Government Debt (GGD). This is the...

Written Answers — Department of Finance: Exchequer Payments (27 Jul 2021)

Paschal Donohoe: The primary Exchequer balance may be defined as the Exchequer balance adjusted for the impact of the national debt cash interest cost. As per the Stability Programme Update 2021, the national debt cash interest cost in 2022 is projected to be €3,860 million. This forecast remained unchanged in the Summer Economic Statement 2021 (SES). The SES projected a 2022 Exchequer deficit of...

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

Paschal Donohoe: The yield collected through Vehicle Registration Tax in 2020 was €751m. Revenue has advised me that its Annual Report for 2020, which is available at link: www.revenue.ie/en/corporate/press-office/annual-report/2020/ ar-2020.pdf, provides in Table 2 on page 83, the total net receipts for all taxes, which may be of interest to the Deputy.