Results 8,801-8,820 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Vehicle Registration Tax (1 Jul 2021)

Paschal Donohoe: I am informed by Revenue that Statutory Instrument No. 353 of 1994, Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1992, provides for relief from Vehicle Registration Tax (VRT), Value Added Tax (VAT) and Motor Tax where a vehicle has been specially constructed or adapted for use by a passenger with disabilities and where the VRT and VAT has been paid by the passenger...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Jul 2021)

Paschal Donohoe: I am aware of concerns that have been raised regarding the pace of recovery for the aviation sector. As an economy wide support, the Employment Wage Subsidy Scheme has the objective of supporting all employment and maintaining the link between the employer and employee insofar as is possible. The EWSS is open to all businesses, including those in the aviation sector, provided the business...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 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: Credit Availability (1 Jul 2021)

Paschal Donohoe: The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation and facilitating the efficient and effective use of EU resources and financial instruments. The SBCI achieves this through the provision of low-cost liquidity and risk-sharing guarantee...

Written Answers — Department of Finance: Revenue Commissioners (1 Jul 2021)

Paschal Donohoe: I am advised by Revenue that the application in question has been processed and a Letter of Assessment has issued to the person. The delay in completing the process arose due to a temporary backlog of applications in the relevant Revenue office and a misplacement of hard copy supporting documents that were provided by the person in addition to his online application. Revenue also advised...

Written Answers — Department of Finance: Departmental Schemes (30 Jun 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. The incentive 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. Section 477C Taxes Consolidation Act (TCA) 1997 outlines the definitions...

Written Answers — Department of Finance: Tax Avoidance (30 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the general anti-avoidance rule is contained in section 811 of the Taxes Consolidation Act 1997. Section 811 applied for transactions commenced up to 23 October 2014 and section 811C applies to transactions commenced after 23 October 2014. The general principles as to what constitutes a tax avoidance transaction are broadly the same under both sets of...

Written Answers — Department of Finance: Tax Data (30 Jun 2021)

Paschal Donohoe: I am advised by Revenue that payments from the Department of Social Protection are taxable sources of income unless they are specifically exempt from income tax. Both the State Contributory Pension and the State Non-Contributory Pension are chargeable to income tax, but not to Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). The Social Welfare Consolidation Act 2005...

Written Answers — Department of Finance: Vehicle Registration Tax (30 Jun 2021)

Paschal Donohoe: I am advised that Revenue’s tax and duty manuals set out the rules, guidelines, procedures, and practices for different areas of activity. They are provided as guidance only and do not seek to provide professional advice or a definitive answer in every case. I am advised that Revenue’s VRT enforcement officers are expected to follow the operational instructions as set out in...

Written Answers — Department of Finance: Vehicle Registration Tax (30 Jun 2021)

Paschal Donohoe: The Revenue Commissioners may, in their discretion, restore goods that have been seized as liable to forfeiture under section 144(2) of the Finance Act 2001. In exercising their discretionary power to restore goods, the Revenue Commissioners may seek such conditions as they deem appropriate including payment of a compromise sum from the owner of the goods. I am advised that Revenue’s...

Written Answers — Department of Finance: Tax Data (30 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 86 to 89, inclusive, together. I am advised by Revenue that the estimated yield generated from a rate of 40% on capital gains made on disposals by individuals with income greater than €400,000, €300,000 and €200,000 is €44m, €63m and €83m per year respectively. This is based on chargeable gains included on Income Tax...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Jun 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: Housing Schemes (29 Jun 2021)

Paschal Donohoe: In relation to the question raised in the details supplied with the Deputy's question, the position is that, as part of the normal course of events, the future of the HTB scheme beyond its current sunset date of 31 December 2021 is a matter that will fall to be considered in the context of Budget 2022 and the subsequent Finance Bill. The Help to Buy (HTB) incentive is a scheme to assist...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Jun 2021)

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide enterprise support that provides a flat rate subsidy to qualifying employers based on the numbers of eligible employees on their payrolls. The EWSS replaced the Temporary Wage Subsidy Scheme which ceased on 31 August 2020. To be eligible for EWSS, an employer must have tax clearance for the duration of the scheme and be able to...

Written Answers — Department of Finance: Tax Code (29 Jun 2021)

Paschal Donohoe: Budget 2021 provided for a reduction in the rate of VAT from 13.5% to 9% for Hospitality and Tourism related services and goods. This was a temporary measure to provide support for 14 months from 1 November 2020 to the end 2021. The measure is being extended to 31 August 2022 in recognition of the continuing challenges facing the Hospitality and Tourism sector. While temporary, this...

Written Answers — Department of Finance: Tax Reliefs (29 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the revised capital gains tax (CGT) entrepreneur relief applies to an individual who disposes of qualifying assets, including shares in a qualifying company. Gains on such disposals are charged to CGT at the rate of 10%, subject to a lifetime limit of €1m.Gains in excess of this lifetime limit are subject to the standard rate of CGT, which is currently 33%....

Written Answers — Department of Finance: Banking Sector (29 Jun 2021)

Paschal Donohoe: As the Deputy is aware, the Bank Levy was introduced for the three-year period 2014 to 2016 with the purpose of enabling the banking sector to contribute to economic recovery. In the Finance Act 2016, the Levy was extended until 2021. In order to protect the annual €150 million yield based on the financial institutions DIRT liability, the rate payable has increased from 35% in 2014 to...

Written Answers — Department of Finance: Tax Collection (29 Jun 2021)

Paschal Donohoe: I am informed by Revenue that Local Property Tax (LPT) receipts collected per year since 2013 are set out in the table below. Year Net Receipts €m 2020 482 2019 474 2018 483 2017 476 2016 463 2015 469 2014 ...

Written Answers — Department of Finance: Tax Code (29 Jun 2021)

Paschal Donohoe: Firstly, it is important to stress that the Government believes that it is in everyone’s interest to achieve a sustainable, ambitious and equitable agreement on modernising the framework for international tax to reflect increasing globalisation and digitalisation. Secondly, it is also important to highlight that reform of the international tax rules has been an ongoing process since...

Written Answers — Department of Finance: Tax Credits (29 Jun 2021)

Paschal Donohoe: I am advised by Revenue that payments from the Department of Social Protection are taxable sources of income unless they are specifically exempt from income tax. Both the State Contributory Pension and the State Non-Contributory Pension are chargeable to income tax, but not to Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). The Social Welfare Consolidation Act 2005...