Results 8,701-8,720 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Bank Charges (21 Apr 2021)

Paschal Donohoe: As the Deputy is aware, as Minister for Finance I have no role to play in commercial decisions made by any bank, including product pricing and fee structures. This applies equally to the 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...

Written Answers — Department of Finance: EU Agreements (21 Apr 2021)

Paschal Donohoe: Ireland’s contributions to the 2021-2027 Multiannual Financial Framework (MFF) are expected to rise over the coming period, from approximately €3.25 billion in 2021, to approximately €3.95 billion in 2027, an average of €3.6 billion per annum. Data on Ireland’s EU Budget receipts are published annually, for the previous year, in my Department’s...

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

Paschal Donohoe: I note that the details supplied by the Deputy refers to a situation involving insurance for a specific dance school. As Minister for Finance, I am not in a position to comment on individual cases. 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....

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

Paschal Donohoe: In general, payments from the Department of Social Protection (DSP) are taxable sources of income unless they are specifically exempt from income tax. In situations where a person is in receipt of both a private pension and a State pension from DSP, the tax due on the DSP payment is collected by reducing the annual tax credits attributed to the private pension. I am advised by Revenue...

Written Answers — Department of Finance: Mortgage Lending (21 Apr 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: Value Added Tax (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 496, 519 and 521 together. The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. Under the EU VAT Directive it is not permissible to differentiate between the supply of different types of residential property, such as apartments and housing, for the purpose of applying VAT rates. While most Member states...

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

Paschal Donohoe: The European Central Bank Governing Council sets its key policy rates with a view to achieving price stability. Monetary policy rates are currently low to ensure that financing conditions remain favourable for households, firms and governments and to support the economy through the pandemic. This is a commercial matter for individual Irish banks to set their own deposit rates, having...

Written Answers — Department of Finance: State Savings Schemes (21 Apr 2021)

Paschal Donohoe: I note the Deputy's query in relation to the introduction of a scheme in Ireland similar to the UK ISA scheme and the TFA scheme in Canada. In this regard, I would highlight that the National Treasury Management Agency (NTMA), through State Savings products, already offers a wide range of tax free savings products to the general public, including Prize Bonds and fixed rate savings...

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

Paschal Donohoe: The Government has prioritised the reform of the insurance sector in order to improve the cost and availability of this key financial service, including for businesses. The Action Plan for Insurance Reformsets out 66 actions in this regard across several policy areas, including my Department, with 95% due for completion by end 2021. At a recent Government meeting, the Cabinet reflected upon...

Written Answers — Department of Finance: Departmental Funding (21 Apr 2021)

Paschal Donohoe: I can advise the Deputy that my Department has no record of any funding being provided to the organisation named in the past five years. 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: Customs and Excise (21 Apr 2021)

Paschal Donohoe: I am advised by Revenue that the monthly breakdown of betting duty collected in each of the years 2019, 2020 and for the first three months of 2021 are shown in the table below. Receipts for 2020 and 2021 are provisional at this time and may be subject to adjustment. - 2019 2020 2021 Prov. Prov. ...

Written Answers — Department of Finance: Customs and Excise (21 Apr 2021)

Paschal Donohoe: There is no direct hypothecation of betting duty to particular causes. Rather, revenues raised from betting duty go directly to the Exchequer and are then partly used to fund the Health, Justice and Welfare systems including the HSE, which bear the costs of problem gambling.

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

Paschal Donohoe: I propose to take Questions Nos. 503, 505, 508 and 509 together. Section 997A of the Taxes Consolidation Act (TCA) 1997 - ‘Credit in respect of tax deducted from the emoluments of certain directors’ - was introduced by way of section 13 of the Finance Act 2005. The section applies to directors or employees who have a material interestin a company that pays emoluments to the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (21 Apr 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was introduced on 26 March 2020. It was legislated for in Section 28 of the Emergency Measure in the Public Interest (Covid-19) Act 2020 and was an emergency measure to deal with the impact of the Covid-19 pandemic on the economy. Over 66,500 employers were supported through the TWSS in respect of more than 664,000 employees at a cost of €2.9bn....

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

Paschal Donohoe: At the outset, it is important to state that the provision of insurance is a commercial matter for insurance companies, which is based on an assessment of the risks they are willing to accept. Consequently, neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products. This position is reinforced by the EU framework for insurance (Solvency II...

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

Paschal Donohoe: I am aware of the broad reform programme ‘The American Jobs Plan’ published by the White House on 31 March, which includes proposals in respect to corporation tax reform and a commitment by the US to seek ‘a global agreement on a strong minimum tax through multilateral negotiations’. These proposals are already the subject of intense scrutiny and extensive debate...

Written Answers — Department of Finance: National Treasury Management Agency (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 510, 511 and 512 together. The NTMA uses a network of primary dealers to sell Irish Government Bonds. There are currently fourteen primary dealers. Bond sales are mainly through two methods, bond syndications and bond auctions. Bond syndications involve assembling a syndicate of primary dealers, usually six, from the full network of primary dealers. The...

Written Answers — Department of Finance: Appointments to State Boards (21 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 514 and 517 together. The State Boards under the remit of my Department are the Central Bank Commission, the Credit Union Restructuring Board, the Financial Services and Pensions Ombudsman, Home Building Finance Ireland, the Irish Fiscal Advisory Council, the National Asset Management Agency, the National Treasury Management Agency and the Strategic Banking...

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

Paschal Donohoe: I am aware of suggestions for a solidarity tax to be imposed on those companies that appear to have fared better during the pandemic. While I understand why some may feel this is justified, I would urge caution. 2021 will be a critical year for International Tax as we seek agreement at the OECD on addressing the tax challenges of digitalisation. I believe that we should focus on seeking a...

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

Paschal Donohoe: I am advised by Revenue that returns for the Sugar Sweetened Drinks Tax (SSDT) require that supplies liable to the tax be categorised into two bands, based on their sugar content. These two bands are where the sugar content is 5g or more per 100ml but less than 8g per 100ml (Band 1) and supplies where the sugar content is 8g or more per 100ml (Band 2). The current SSDT rates charged are...