Results 8,841-8,860 of 33,175 for speaker:Paschal Donohoe

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

Paschal Donohoe: I propose to take Questions Nos. 212 and 218 together. The Government is conscious of the difficulties facing owners of thatched properties in relation to affordability and availability of insurance. Having said that, the Deputy will appreciate that, neither I, nor the Central Bank of Ireland, have powers around pricing or provision of insurance cover. These are commercial matters for...

Written Answers — Department of Finance: Pension Provisions (22 Jun 2021)

Paschal Donohoe: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes, which was introduced in Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. The threshold was initially set at €5 million. It was subsequently reduced to €2.3 million with effect from 7 December 2010 and further reduced to €2 million...

Written Answers — Department of Finance: Tax Avoidance (22 Jun 2021)

Paschal Donohoe: Drafting of the legislation to transpose the interest limitation rule or ILR mentioned by the Deputy is ongoing, which makes it difficult to provide a definitive estimate of its likely Exchequer impact. I would also note that the primary purpose of the measure is to improve the robustness of the international corporate tax system as a whole by preventing base-erosion and profit shifting...

Written Answers — Department of Finance: Budget 2021 (22 Jun 2021)

Paschal Donohoe: The net carryover effect into 2022 of taxation measures introduced in Budget 2021 was estimated to be in the region of €0.4 billion.The majority of this figure related to the conclusion of the reduced 9% VAT rate for the tourism sector, which was due to expire at end-2021, with some carryover impact into the following year. As the Deputy will be aware, the Government announced in...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the estimated yield from increasing the Excise on diesel by a range of amounts is shown on page 22 of Revenue’s Ready Reckoner which can be located at the following link: . The yield from a five cent per litre increase is estimated at €137m per annum. Based on the volume of diesel on which claims were received in previous years, the cost of using the...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: The Programme for Government, “Our Shared Future”, states that “from Budget 2022 onwards, in the event that incomes are again rising as the economy recovers, credits and bands will be index linked to earnings. This will be done to prevent an increase in the real burden of income tax, to prevent more low income workers being taken into the tax net because of no changes to...

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

Paschal Donohoe: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. It provides a flat-rate subsidy to qualifying employers based on the numbers of paid and eligible employees on the employer’s...

Written Answers — Department of Finance: Tax Collection (22 Jun 2021)

Paschal Donohoe: I am advised by Revenue that the table below sets out the amounts collected in Professional Services Withholding Tax (PSWT) for the years 2018, 2019 and 2020. The table also sets out the number of persons that paid PSWT during those years and the average amount paid. Year Gross Collection (€m) No. of Customers Average (€m) 2018...

Written Answers — Department of Finance: Departmental Schemes (22 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...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: The 2012 inter-Departmental Group which considered the structures and modalities of a property tax recommended that a universal liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. While...

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

Paschal Donohoe: I am keenly aware of the issue of equal access to financial services and products for those who previously have had cancer, and note the statistics supplied, which relate to difficulties experienced by some in accessing life insurance. I am also aware of reports of some customers experiencing issues in obtaining mortgage protection cover as a result of having higher risk conditions...

Written Answers — Department of Finance: State Bodies (22 Jun 2021)

Paschal Donohoe: A number of the bodies under the aegis of my Department have incurred negative interest rate charges in Irish banks, details of which are set out below. Home Building Finance Ireland (HBFI) was established in December 2018, at which time there was a requirement to open a number of accounts to allow day to day operations and activities to be undertaken. Since December 2018, HBFI has been...

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

Paschal Donohoe: The latest costs available for the Special Assignee Relief Programme (SARP), can be found in the 'Statistics on Special Assignee Relief Programme 2018' report which is published on the Revenue website. According to that report, in 2018 SARP had an Exchequer cost of €42.4 million. This is the latest data available. I expect the cost for 2019 should be available later in...

Written Answers — Department of Finance: Tax Credits (22 Jun 2021)

Paschal Donohoe: I am advised by Revenue that is not possible to accurately predict the yield from ending the payable element of the Research and Development (R&D) tax credit, as information in respect of the future payments of the credit, which is dependent on both the future profitability of claimant companies as well as their level of qualifying R&D activity, cannot be known in...

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

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. I am advised that where a complaint is made to the FSPO concerning a joint account or a joint policy, the FSPO must recognise that all parties to...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: As I stated in my reply to PQ 30710 of 15 June, Revenue uses a European standard classification system, known as ‘NACE’ to categorise the economic activities or sectors of taxpayers. In the NACE system, dog breeding or dog selling are not separately categorised. In addition, these types of operations are often part of wider economic activities undertaken by taxpayers and it is...

Written Answers — Department of Finance: Tax Code (22 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 229 and 230 together. It is unclear what the Deputy is referring to and if he has any specific concerns, I will be happy to address those if further details can be provided. However, I can assure him that Ireland has a clear and transparent statutory corporation tax regime that applies to all companies equally and raises billions in revenue each year....

Written Answers — Department of Finance: Departmental Staff (22 Jun 2021)

Paschal Donohoe: The staff of my Department are paid in line with Government pay policy and there are currently 6 civil servants in my Department whose salaries are less than the living wage of €12.30 per hour. It should be noted that, of these, 5 officers will move above the living wage rate of €12.30 per hour when they move to the next increment step of their respective salary scales. The 1...

Written Answers — Department of Finance: Departmental Expenditure (17 Jun 2021)

Paschal Donohoe: I can inform the Deputy that the Department of Finance has no record of spending on social media advertising since the beginning of January 2021 until 12 June 2021. A number of bodies under the aegis of my Department have incurred expenditure on social media advertising since January 2021, the details are as follows: The Central Bank of Ireland has paid €66,405 (VAT excl.) since the...