Results 8,661-8,680 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services Regulation (22 Apr 2021)

Paschal Donohoe: Since 2011, the Government has enacted a broad range of primary and secondary legislation to address issues that arose prior to 2008, to provide more consumer protection and to ensure greater oversight, stability and sustainability of the Irish financial services sector. The regulatory landscape has been utterly overhauled since the financial crisis, with: - the Central Bank Reform Act 2010;...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 Apr 2021)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support all employment and maintain the link between the employer and employee insofar as is possible. The EWSS “turnover test” has been specifically designed so as to target the subsidy at otherwise viable employers whose businesses continue to be adversely impacted by COVID-19 by requiring a comparison of the...

Written Answers — Department of Finance: Defective Building Materials (22 Apr 2021)

Paschal Donohoe: My colleague the Minister for Housing, Local Government and Heritage is responsible for the defective concrete blocks remediation financial assistance scheme and his Department will be best place to advise on the progress of the scheme including the number of properties which have undergone full remediation. The mortgage lending policies of retail banks is a business...

Written Answers — Department of Finance: Tax Reliefs (22 Apr 2021)

Paschal Donohoe: I refer the Deputy to the statement I made during the Dáil second stage debate of the Financial Provisions (Covid-19) (No. 2) Bill 2020 on 29 July 2020, and in particular the following extract: "It [the Stay and Spend scheme] will run from 1 October 2020 to 30 April 2021" In relation to the rationale for the 1 October start date, I advised the House that: "This will incentivise taxpayers...

Written Answers — Department of Finance: Transport Policy (22 Apr 2021)

Paschal Donohoe: The Cycle to Work scheme is an action of my Department and Revenue that encourages people to cycle to and from work. Section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for this scheme. This scheme provides an exemption from benefit-in-kind where an employer purchases a bicycle and associated safety equipment for an employee. Under section 118B TCA 1997, an employer and...

Written Answers — Department of Finance: State Pensions (22 Apr 2021)

Paschal Donohoe: In March 2021, the Department of Finance made a submission to the Commission on Pensions, which is available on the Department’s website.The analysis set out in the document attempts inter alia to quantify the likely budgetary costs of population ageing in order to inform the appropriate policy response. It builds on work undertaken by the Department of Finance in conjunction with...

Written Answers — Department of Finance: Banking Sector (22 Apr 2021)

Paschal Donohoe: The Government does not see the State as a long-term investor in the banking sector and its policy of selling down its investments in the Irish banks remains unchanged. However, given the extent of these investments, this was never going to be achieved in the short term and was always going to require a series of sell down transactions possibly spread over more than one market cycle. In...

Written Answers — Department of Finance: Central Bank of Ireland (22 Apr 2021)

Paschal Donohoe: As the Deputy is aware, my Department and I engage with the Central Bank and the Governor of the Central Bank on a regular basis. Throughout these engagements my Department and the Bank discuss a wide variety of issues. This effective engagement with the Central Bank is accomplished through a mutual understanding and respect of the roles carried out by the Department and the Bank. The...

Written Answers — Department of Finance: Banking Sector (22 Apr 2021)

Paschal Donohoe: The Deputy will be aware that it is the responsibility of the Regulator to set the level of capital which each bank is required to hold. These capital levels are determined within the context of a robust EU regulatory framework which is designed to ensure a safe banking system that can support the economic needs of each member state. One of the key inputs in this regard is historical...

Written Answers — Department of Finance: Banking Sector (22 Apr 2021)

Paschal Donohoe: The announcement by KBC Bank Ireland last week that it is leaving is a very significant development for the retail financial sector in Ireland, particularly as it comes so soon after NatWest’s decision to withdraw Ulster Bank from the Irish market. Firstly, I am concerned about the impact of this decision for KBC’s staff and customers.  It also raises...

Written Answers — Department of Finance: Banking Sector (22 Apr 2021)

Paschal Donohoe: The Government does not see the State as a long-term investor in the banking sector and its policy of selling down its investments in the Irish banks remains unchanged. However, given the extent of these investments, this was never going to be achieved in the short term and was always going to require a series of sell down transactions possibly spread over more than one market cycle. In...

Written Answers — Department of Finance: Vehicle Registration Tax (21 Apr 2021)

Paschal Donohoe: I am informed by Revenue that Statutory Instrument (S.I.) No. 318 of 1992, Vehicle Registration and Taxation Regulations (as amended by S.I. No. 542 of 2012) prescribes the format, lettering, dimensions and technical specifications of registration plates to be displayed on vehicles in the State. It is an offence to display the wrong registration number on a vehicle or to display the...

Written Answers — Department of Finance: Tax Code (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 460 and 522 together. Those who incur expenses in relation to farm diesel in the course of their trade of agricultural contracting may claim an income tax or corporation tax deduction for these expenses, including any carbon tax charged in respect of the diesel. An additional tax measure for farmers was introduced in Budget 2012 to compensate for...

Written Answers — Department of Finance: Banking Sector (21 Apr 2021)

Paschal Donohoe: Firstly, I would like to point out that it would not be appropriate for the Minister for Finance to comment on specific policies in individual credit unions. In addition, the Central Bank as regulator of the credit union sector cannot comment on specific matters in individual credit unions due to confidentiality reasons. The Central Bank has also informed me that they do not contact...

Written Answers — Department of Finance: Ministerial Correspondence (21 Apr 2021)

Paschal Donohoe: As Minister for Finance I have no responsibility in regard to rents which are private agreements between landlords and tenants. However, in regard to protection for businesses with mortgage repayments with banks, on 18 March 2020 the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically...

Written Answers — Department of Finance: Help-To-Buy Scheme (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 463 and 477 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. It also has as a key aim the encouragement of additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid...

Written Answers — Department of Finance: Help-To-Buy Scheme (21 Apr 2021)

Paschal Donohoe: The Help To Buy (HTB) scheme is designed to assist first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. HTB has a two main stages: the application stage and the claim stage. Compliant taxpayers who complete a HTB application are provided with an application number and a summary of the maximum relief available to them under...

Written Answers — Department of Finance: Insurance Industry (21 Apr 2021)

Paschal Donohoe: I am very conscious of the difficulties facing some sectors, including those highlighted by the Deputy, with regard to the affordability and availability of insurance cover. However, 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 case-by-case basis. This position is...

Written Answers — Department of Finance: Pension Provisions (21 Apr 2021)

Paschal Donohoe: I understand that this question relates to a person who received an increase in their Living Alone Allowance from the Department of Social Protection (DSP), while their occupational pension and state pension from the DSP are unchanged. The mechanism used to tax payments from the DSP, where a person has an additional source of income (for example, an occupational pension), is by reducing...

Written Answers — Department of Finance: Tax Code (21 Apr 2021)

Paschal Donohoe: My officials tried unsuccessfully to seek clarification with you on this PQ. Therefore, the reply is being made on a best efforts basis. Given that the question is in relation to a death, the Deputy may have intended to query the relevant tax treatment in the circumstances set out for inheritance tax purposes and not capital gains tax. If this is the case, I am informed by Revenue that...