Results 8,841-8,860 of 33,923 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Yield (7 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 211 and 212 together. The Deputy will be aware that the 140 member jurisdictions of the OECD Inclusive Framework are meeting later this week to reach an agreement on the broad parameters of a two pillar solution to address the address the tax challenges of digitalisation. The first aspect of these proposals, Pillar One, provides for a re-allocation of a...

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

Paschal Donohoe: I propose to take Questions Nos. 15 and 20 together. I am aware of the campaign mentioned by Deputy Matthews. However, as the Deputies will also be aware, the Minister for Housing, Local Government and Heritage, has established an Independent Working Group to examine the issue of defective housing. Officials from my Department participate in this Working Group. The objectives of the...

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

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Banking Sector (6 Oct 2021)

Paschal Donohoe: As the Deputy may be aware, 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, including the management of branch networks, 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: Tax Code (6 Oct 2021)

Paschal Donohoe: Mineral Oil Tax (MOT) applies to minerals oils used for motor or heating purposes in the State. The rate of MOT is comprised of a carbon and non-carbon component. I am advised by Revenue that Section 98 of Finance Act 1999 provides for a partial relief for MOT for heavy oil and liquefied petroleum gas (LPG) used in horticultural production and the cultivation of mushrooms. Heavy oil refers...

Written Answers — Department of Finance: Childcare Services (6 Oct 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: Housing Schemes (6 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 21 and 22 together. According to latest data available from Revenue as at 31 August 2021, since the inception of the Help to Buy (HTB) scheme there have been 6,971 claims for self-builds, and 21,348 claims for new builds, giving a total of 28,319 claims. Revenue advise that a combined breakdown of build type broken down by county is not available. They...

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

Paschal Donohoe: The Central Bank Act 1997 (as amended) provides, inter alia, that any entity (unless it is otherwise authorised to provide credit) carrying out credit servicing activities (which includes the holding of legal title to credit, or managing or administering a credit agreement) requires authorisation by the Central Bank of Ireland as a 'credit servicing firm'. Accordingly, such firms must comply...

Written Answers — Department of Finance: Employment Support Services (5 Oct 2021)

Paschal Donohoe: I am aware of the difficulties being experienced by the arts sector due to the cost and availability of insurance. However, as the Deputy will be aware, neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, nor do we have the power to direct insurance companies to provide cover to specific businesses or individuals. This position is...

Written Answers — Department of Finance: Housing Schemes (5 Oct 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the 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: Covid-19 Pandemic Supports (5 Oct 2021)

Paschal Donohoe: I am aware of concerns that have been raised regarding the pace of recovery for the arts sector. However, the position is that the Employment Wage Subsidy Scheme (EWSS) is an economy wide support. The objective of EWSS is to support all employment and to maintain the link between the employer and employee insofar as is possible. The scheme is open to all businesses, provided the business...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (5 Oct 2021)

Paschal Donohoe: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS) which is an economy-wide enterprise support for eligible businesses. EWSS provides a flat-rate subsidy to qualifying employers, based on the number of qualifying employees on the payroll. To date, €4.9bn has been paid out under the scheme to 51,500...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (5 Oct 2021)

Paschal Donohoe: The Debt Warehousing Scheme remains available to support businesses that are experiencing tax payment difficulties arising from the COVID-19 pandemic. The scheme, which has to date provided €2.6 billion in liquidity to approximately 95,000 businesses, applies to VAT debts, PAYE (Employer) debts, certain self-assessed income tax debts and overpayments of both the Temporary Wage Subsidy...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (5 Oct 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) is provided for in section 11 of the Finance Act 2020. To qualify under the scheme a business must, under specific terms of the Covid restrictions, be required to either prohibit or significantly restrict customers from accessing their business premises to acquire goods or services, with the result that the business either has to temporarily close...

Written Answers — Department of Finance: Tax Credits (5 Oct 2021)

Paschal Donohoe: The purpose of the Stay and Spend scheme was to provide targeted support to businesses within the hospitality sector whose operations are likely to have been most affected by continued restrictions on public health grounds. The scheme ended on 30 April. Since 1 October 2020, a total of 67,982 receipts have been uploaded to the Revenue Receipts Tracker, as at 29 September 2021. The...

Written Answers — Department of Finance: Tax Reliefs (5 Oct 2021)

Paschal Donohoe: As the Deputy will be aware, section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the Cycle to Work scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment for an employee and was introduced in 2009. The cycle to work scheme operates on a self-administration basis. Relief is...

Written Answers — Department of Finance: Tax Yield (5 Oct 2021)

Paschal Donohoe: Revenue has published an initial set of statistics in relation to Local Property Tax (LPT) for 2022, which is available on the Revenue website. These statistics include Revenue’s projected estimate of the 2022 receipts, which stands at €538m, taking account of the rate adjustment decisions of Local Authorities. I am advised that these estimates are based on Revenue’s...

Written Answers — Department of Finance: Tax Code (5 Oct 2021)

Paschal Donohoe: I am advised by Revenue that property owners are required to self-assess the value of their properties at 1 November 2021 for Local Property Tax (LPT) purposes. This valuation will determine the amount of LPT they pay for the next ‘valuation period’ which runs from 2022 to 2025 inclusive. Revenue has provided an ‘interactive valuation tool’and other guidance on the...

Written Answers — Department of Finance: Banking Sector (5 Oct 2021)

Paschal Donohoe: As Minister for Finance I have no role in commercial decisions made by banks. This includes a bank’s decision as to whether or not an account should be opened for an individual or business. The Central Bank has also confirmed that it has no specific powers in relation to this matter and that it cannot become involved in commercial arrangements between banks and their customers....

Written Answers — Department of Finance: National Asset Management Agency (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 164 and 165 together. NAMA originally issued €1.593 billion in subordinated debt in consideration for 5% of the loans it acquired from the participating institutions. Payment of interest and ultimate redemption of this debt was subject to NAMA’s financial performance. NAMA’s profits have substantially exceeded the subordinated debt...