Results 8,581-8,600 of 33,175 for speaker:Paschal Donohoe

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

Paschal Donohoe: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes, which was introduced in Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. The threshold was initially set at €5 million. It was subsequently reduced to €2.3 million with effect from 7 December 2010 and further reduced to €2 million...

Written Answers — Department of Finance: EU Meetings (27 Jul 2021)

Paschal Donohoe: As the Deputy is aware, Country Specific Recommendations (CSRs) provide individual tailored guidance to Member States on macro-economic, budgetary and structural policies in accordance with Articles 121 and 148 of the Treaty on the Functioning of the European Union. Following the initial publication of draft Country Specific Recommendations by the European Commission, Member States have...

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: I wish everybody good morning. I thank Senators for the amendments that have been tabled and for the facilitating and scrutiny of this legislation. I will begin my comments on this amendment by absolutely identifying and appreciating the anxiety, huge stress and damage that has been caused to families and homeowners, which in turn has been created by the damage that has been done to their...

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: I thank the Senators for their contributions. I will take a step back to look at what we are doing with local property tax. The evidence from other countries that have had property tax regimes in place for much longer than we have is that the difficult moment for those regimes happen at two points in time. The first one is when the local property tax is implemented for the first time and...

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: Senator Higgins's contribution regarding a potential vacant homes tax highlighted an open issue which demonstrates the need for the collection of further information in this respect.It is a very reasonable and understandable position to adopt. She said she was in favour of such a vacant homes tax, with certain caveats, and that is a very understandable and legitimate position to take. My...

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: I am not concerned at what those trade-offs could be. I am just saying that we could get to a point where there are trade-offs. That is all. While it has not happened in the debate so far, although it may have happened on Second Stage, normally, when we are having discussions about local property tax, the case is made for people who should be exempted from local property tax, as opposed to...

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: I will be equally brief by saying to the Senator that it is very likely that we will have engagement on this matter well before December 2022.

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: There are three points on this. It is worthwhile considering the dimension of this debate, which is that individuals or companies may own large groups of homes and properties but this is because they have built them. If they did not own them these properties would not be built. If supply is part of how we respond to the great challenges we have in housing, it poses the issue that we may...

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: That is not what I heard but I am sure that is what the Senator did say so I thank her for clarifying that. Even at that point, Senator Higgins is right. Understanding patterns of ownership is very valuable in the debate on public policy. The data already exist. For this reason, I ask that the Senator withdraws the amendments.

Seanad: Finance (Local Property Tax) (Amendment) Bill 2021: Committee and Remaining Stages (16 Jul 2021)

Paschal Donohoe: I never disputed the fact there are individuals or firms that own multiple properties. I am simply making the point that more data are available than the amendment might suggest. I agree with Senator Higgins that patterns of ownership are a very influential dynamic in understanding what happens in the property sector. She is definitely correct with regard to this.

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

Paschal Donohoe: As the Deputy will be aware, the Minister for Housing, Local Government and Heritage, has established an Independent Working Group to examine the issue of defective housing. 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 housing affected, to propose a...

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

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with obtaining the deposit they need to buy or build a new house or apartment. The scheme gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. An increase in the supply of new housing is fundamental to...

Written Answers — Department of Finance: Departmental Data (15 Jul 2021)

Paschal Donohoe: I wish to advise the Deputy that at 12 July 2021, my Department had the following number of staff in the following locations: - 14/16 Merrion St –72 - Miesian Plaza, Baggot St –49 - Government Buildings, North Block –13 - Government Buildings, South Block –184 - Unit 2, Central Business Park, Clonminch Rd, Tullamore–17 A detailed breakdown by grade is...

Written Answers — Department of Finance: Tax Code (15 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. I am conscious that an effective, transparent and fair tax appeals system for taxpayers is an essential aspect of any tax system, and therefore it is important to ensure that the Commission is provided with the appropriate...

Written Answers — Department of Finance: Tax Appeals Commission (15 Jul 2021)

Paschal Donohoe: In response to the Deputy’s question the following tables provide an outline of the number of appeals received and closed from 2016 to the end of June 2021 and the reason why each appeal was closed: Appeals Received and Closed from 2016 to June 2021 Year No. of Appeals Received No. of Appeals Closed 2016 2,357 206 ...

Written Answers — Department of Finance: Tax Appeals Commission (15 Jul 2021)

Paschal Donohoe: I am advised by Revenue that it is not in a position to provide the information requested by the Deputy as the data requested is not captured in a form that is readily accessible. Revenue obtains the information relating to the amount of tax that is ‘held under appeal’ from its IT systems. Outstanding tax liabilities are automatically identified by the presence of an appeal stop...

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

Paschal Donohoe: In the context of my reply to the Deputy's priority question regarding the Vacant Site Levy of 15 June 2021 (question number 32046/21) I indicated that I am giving consideration to the future of the Vacant Site Levy, its role and whether there is a case for it to be strengthened. On that occasion the Deputy mentioned a suggestion from a legal practitioner as to how to enhance the operation...

Committee on Budgetary Oversight: Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform (15 Jul 2021)

Paschal Donohoe: I thank the committee for the invitation to appear here today to discuss the summer economic statement. I will focus on the current economic and fiscal outlook, and I look forward to hearing the committee’s views regarding some of the key issues in the medium term. After a difficult and unprecedented 16 months, we are beginning to see light at the end of the tunnel. The vaccination...