Results 8,761-8,780 of 33,175 for speaker:Paschal Donohoe

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I understand the Senator's question. They will be fixed for the next four years. Inside that four year period, the only way of reviewing it again would be through legislative change.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: We are not making any change there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I understand the Senator's need for that clarity. I am giving a commitment to very thoroughly investigating a case for such a change. What I need and will have soon is far more accurate information regarding the scale of this as an issue and the reason it is happening. Even in my analysis of data that is available from elsewhere, there are many reasons vacancy of a property occurs. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I thank the Senator for the points he made. I also thank him for his recognition of the value of ensuring those 80,000 homes that have been built and purchased since 2013 come into the perimeter of this tax. It is important once we do this revaluation that we are never in this place again. It raises an important issue of fairness and within local authorities, as the Senator said, it raises...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I thank the Deputy. Yes, I am. The spending of this revenue is a matter for local authorities and the Minister, Deputy O'Brien, from a policy point of view. Deputy Durkan knows we have put quite some time into reviewing the future of the tax. We have had a debate over many years regarding the future of the local property tax and whether we should revalue or not. I have not become aware...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I thank Deputy Durkan. I take on board what he is saying, which is why I suggest the sequencing of gathering thorough data on this matter first. This appears to be the sensible first step we should take. As I said in my engagement with Senator Sherlock a few moments ago, there are many reasons a property could be vacant. A number of these reasons could be very understandable from a family...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I seek guidance from the Acting Chairman as to whether or not I should answer that question? I agree with what the Deputy said, but he also put a few questions to me.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I thank the Deputy for the questions. On the first question regarding where increases are likely to fall, I want to emphasise again that most homeowners will not see an increase and, in terms of those who do, the majority of them will move up one band and, therefore, an increase of €90. As to where they will be, there is no precise answer to that question. It depends on the value of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I will give the exact figures so that I am not inconsistent with the Deputy's information. The figures in the table of information we supplied on where increases will happen indicate that approximately 11% of homeowners will see a decrease, approximately 53% will see no change, approximately 33% will see an increase of one band, and approximately 3% will see an increase of two bands or more....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I am sure that the Acting Chairperson will give the Deputy a little latitude on this. Will the Deputy explain that second question to me again? I know she has raised the issue of orphan structures with me before but she is now raising it in the context of charities. I do not fully understand the question. If she puts it to me again, I will see if I can answer it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I am not aware of this being an issue. Certainly, the Revenue Commissioners have not raised this with me as a matter that needs to be investigated or as a cause for changing LPT policy. I have not been informed by the Revenue Commissioners that it is an issue. Properties owned by investment funds are liable for local property tax.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: Again, that has not been raised with me as an issue that is a cause of concern to the Revenue Commissioners. I am certainly happy to ask them the question and come back to the Deputy on it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Finance (Local Property Tax) (Amendment) Bill 2021: Discussion (7 Jul 2021)

Paschal Donohoe: I thank the Chairman. I would never want to suggest or imply that the staff of the committee have not shared or passed on the information. We will investigate what has happened here. However, I know that if the information had been received by the staff of the committee, that it would of course have been shared with the committee members.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (6 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 Forms (6 Jul 2021)

Paschal Donohoe: Since 2012 all Relevant Contracts Tax (RCT) compliance, filings and payments, is conducted online using the Revenue Online Service (ROS). An important feature of the online RCT system is the submission of contract notifications to Revenue. These contract notifications provide Revenue with information regarding the contract between the principal and the subcontractor. Prior to the...

Written Answers — Department of Finance: Insurance Coverage (6 Jul 2021)

Paschal Donohoe: At the outset it is important to note that neither I, nor the Minister for Finance or the Central Bank, 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 reinforced by the EU Single Market framework for insurance (the Solvency II Directive) which expressly prohibits Member...

Written Answers — Department of Finance: Departmental Schemes (6 Jul 2021)

Paschal Donohoe: I understand that the question relates to the Stay and Spend tax credit scheme. The purpose of the scheme was to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. The scheme ended on 30 April. Since 1 October 2020, a total of 66,725 receipts have been uploaded to...

Written Answers — Department of Finance: Tax Code (6 Jul 2021)

Paschal Donohoe: In Budget 2021, I introduced a temporary reduced rate of VAT, 9%, to apply to tourism and hospitality related services from 1 November 2020 to 31 December 2021, and the Finance (Covid 19 and Miscellaneous Provisions) Bill currently before the House proposes that this temporary rate continue until 31 August 2022. The Deputy is asking that this arrangement be applied to the music and...

Written Answers — Department of Finance: Tax Code (6 Jul 2021)

Paschal Donohoe: 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. Nor is it possible to change the VAT rate for first-time buyers. While most Member states...

Written Answers — Department of Finance: National Asset Management Agency (6 Jul 2021)

Paschal Donohoe: All NAMA staff are employees of the NTMA as Section 42 of the National Asset Management Agency Act, 2009 provides that the NTMA shall assign staff to NAMA. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. ...