Results 8,681-8,700 of 33,923 for speaker:Paschal Donohoe

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: -----in regard to Covid and the worrying figures the House is, of course, aware of with the increase in the community transmission of Covid in recent weeks.

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: I listened to the debate this evening and remained for it, as I should. This Finance Bill is within a context that is very different from the one introduced a year ago. While we are correct to continue to have a sense of anxiety and a focus on the current level of Covid and how we can reduce it further, this is also a health context that is fundamentally different from a year ago due to a...

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: It is the party's policy on taxation. I understand why such charges always provoke this reaction from Sinn Féin.

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: It is because it is the truth. The only measure that the party has would benefit the most valuable houses and those who own them. On the question of where our economy stands, I welcome the support from many on the impact of the EWSS and the CRSS, as well as the PUP. These protected employers, those who work for them and income at a time the pandemic was at its very worst. Those...

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: I very much appreciate the contributions Deputies have made during an important Second Stage debate on the Finance Bill. I will structure my comments based on some of the themes that I have heard. I will begin with the climate crisis, move on to the cost of living and then talk about where we are from an employment point of view. I will then respond to some specific points that were made...

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: I will not be accused by the Deputy of the language that I have used being a threat to democracy. I ask her to withdraw that.

Finance Bill 2021: Second Stage (Resumed) (3 Nov 2021)

Paschal Donohoe: I did.

Finance Bill 2021: Second Stage (3 Nov 2021)

Paschal Donohoe: I move: "That the Bill be now read a Second Time." We are here to start our consideration of the Finance Bill 2021, which will give the necessary legal basis to the decisions announced in the budget and make a number of other necessary changes to tax legislation. The budget addressed the major issues facing Ireland: climate change, Covid and housing. In this budget we aim to support...

Written Answers — Department of Finance: Insurance Industry (3 Nov 2021)

Paschal Donohoe: At the outset it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products, or have the power to direct insurance companies to provide cover in such circumstances. This position is reinforced by the EU...

Written Answers — Department of Finance: Tax Exemptions (3 Nov 2021)

Paschal Donohoe: The original policy objective of the dwelling house exemption relief was to alleviate the hardship of an inheritance tax liability for a person who inherits a house in which he or she had been living with the deceased and to ensure that the person did not have to sell the house to pay the tax liability. Over time, however, the relief had moved away from its original policy focus, and was...

Written Answers — Department of Finance: Tax Code (3 Nov 2021)

Paschal Donohoe: In Finance Act 2019 I legislated for a CO2-based 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 mileage bands is reduced...

Written Answers — Department of Finance: Revenue Commissioners (3 Nov 2021)

Paschal Donohoe: I am advised by Revenue that its telephone Helplines remain operational despite the difficulties encountered from the COVID-19 pandemic. Further details on the Helpline opening hours is available on the 'Contact Us' page of Revenue website, which may be of interest to the Deputy. Revenue has also confirmed that the LPT, PAYE and Self-Assessment Helplines are currently experiencing...

Written Answers — Department of Finance: Greenhouse Gas Emissions (2 Nov 2021)

Paschal Donohoe: As the Deputy will be aware, the Climate Action and Low Carbon Development (Amendment) Bill as enacted in July 2021 includes an interim target for 2030 of reducing greenhouse gases by 51% relative to 2018. The process of drawing up an updated Climate Action Plan, as led by the Minister for Environment, Climate and Communications, to reflect this increase in ambition is underway, with the new...

Written Answers — Department of Finance: Tax Code (2 Nov 2021)

Paschal Donohoe: Local Property Tax (LPT) operates on a self-assessment basis and as such requires relevant residential property owners to comply with their legal requirements even where they have not received a communication from Revenue. This includes determining the market value of the property at 1 November 2021 in respect of the new ‘valuation period’ (2022 to 2025), submitting this...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 244 and 245 together. As the Deputy will be aware, NAMA does not generally own properties, rather NAMA acquired loans for which the properties act as security. Secured properties remain in the ownership and control of their registered owners, or appointed receivers in the event of enforcement. NAMA cannot restrict the sales of properties to specific...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 246, 247, 253, 265 and 266 together. As the deputies may be aware, assets often referred to as "NAMA land" or "NAMA properties" are not owned by NAMA. NAMA owns loans. Such property is owned by private persons or companies who owe money to NAMA (“NAMA debtors”) and serves as collateral for those amounts owed. I am advised that Sections 99 and...

Written Answers — Department of Finance: Banking Sector (2 Nov 2021)

Paschal Donohoe: The Deputy will be aware that as Minister for Finance I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The independence of banks in which the State has a...

Written Answers — Department of Finance: Tax Code (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 249 to 252, inclusive, together. I am advised by Revenue that a tentative estimate of the revenue foregone by exempting: - maternity benefit from income tax is of the order of €45m; - adoptive benefit from income tax is of the order of €0.04m; and - paternity benefit from income tax is of the order of €2.6m. I am advised by Revenue...

Written Answers — Department of Finance: Tax Code (2 Nov 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: Tax Exemptions (2 Nov 2021)

Paschal Donohoe: The Finance (Local Property Tax) Act 2012 (as amended) provides for certain properties to be exempt from LPT during the current valuation period (2013 to 2021) and the next valuation period (2022 to 2025) where they meet certain qualifying conditions. The full list of exemptions that apply for the new valuation period and how they can be claimed is available on the Revenue website. It is...