Results 8,901-8,920 of 33,175 for speaker:Paschal Donohoe

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: Deputy Doherty first asked if I anticipate that the potential global minimum effective tax rate will cover more companies than are currently encompassed in the G7 communiqué. That is a possibility but the case that we will be making is that regardless of where the rate ends up, if a rate is agreed at a global level, it should only apply to the very largest companies. As Deputy Doherty...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I thank Deputy Doherty for his further question on pillar 2. There is no further detail beyond the communiqué to which Deputy Doherty referred. The main element of the statement from the G7 refers to the annual global turnover threshold. Beyond that, there is no further detail agreed between the G7 economies. That will happen within the OECD. The detail will be determined within the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I thank the Deputy for his question. I am not in a position to comment on the tax affairs of any particular company. Obviously what is driving the process overall is the understandable issue, namely, to address the gap between how tax structures are currently developed across the world and the increasingly digital nature of the global economy. Deputy Doherty asked whether the Department...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I am both publicly and privately making the case for the kind of agreement that Ireland would be willing to support. I am talking about my views on the rates and on the need for an agreement that accommodates small and medium-sized economies and not just the larger ones. In terms of what I believe an acceptable model could look like later on in the year, if agreement can be reached, it is...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I thank the Deputy for raising this issue and I propose to take Questions Nos. 51 and 53 together.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I was not informed of that guidance but I am in the hands of the Ceann Comhairle and I am happy to deal with these questions in whatever way he sees fit.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I am happy to be guided by the Ceann Comhairle and to deal with the questions in the way he sees fit.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: International Agreements (15 Jun 2021)

Paschal Donohoe: I welcome the opportunity to brief the Dáil on the international tax discussions on foot of the G7 meeting, which I attended in my role as president of the Eurogroup. 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...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 60 and 338 together. 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...

Written Answers — Department of Finance: EU Funding (15 Jun 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: Tax Code (15 Jun 2021)

Paschal Donohoe: The 2012 inter-Departmental Group which considered the structures and modalities of a property tax recommended that 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. At present, Part...

Written Answers — Department of Finance: Insurance Industry (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 67, 69, 126 and 404 together. The availability of affordable insurance is a key policy priority as reflected in the Government’s Action Plan for Insurance Reform. In this regard, I welcome the adoption of the new Personal Injuries Guidelines, which came into force on 24 April. This is a key achievement in the Government’s reform agenda that...

Written Answers — Department of Finance: Real Estate Investment Trusts (15 Jun 2021)

Paschal Donohoe: Investment funds are a long term presence in the Irish market, as in most other property markets. As with investment funds generally, tax occurs primarily at the level of the investor rather than within the fund. Additionally, in the case of both Irish Real Estate Funds (IREFs) and Real Estate Investment Trust companies (REITs), withholding taxes apply on distributions to investors to ensure...

Written Answers — Department of Finance: Revenue Commissioners (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 72 and 85 together. I am advised by Revenue that the overall additional tax, including interest and penalties, collected each year during the period 2015 to 2020 through non-compliance intervention programmes, ranged from €487 million to €643 million, of which an average of almost €87 million per year related to additional payroll taxes....

Written Answers — Department of Finance: Housing Schemes (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 73 and 387 together. I am advised that Deputy Smyth intended to refer to the Help to Buy incentive scheme, rather than a rent-to-buy scheme. The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with obtaining the deposit they need to buy or build a new house or apartment. The scheme gives a refund on Income Tax and Deposit...

Written Answers — Department of Finance: Insurance Coverage (15 Jun 2021)

Paschal Donohoe: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct...

Written Answers — Department of Finance: Housing Policy (15 Jun 2021)

Paschal Donohoe: As the Deputy will be aware, housing is a key priority for Government. In Budget 2021, a record total of €3.3 billion was allocated towards housing, including an Exchequer allocation of €3.1 billion. The capital spending on housing for 2021 is 26 per cent higher than the previous year, and almost two-and a half times what it was in 2017, demonstrating the massive commitments...

Written Answers — Department of Finance: Banking Sector (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 77 and 119 together. This is a very difficult period for the retail financial services sector, which is undergoing a major period of change. In the last few months, we have seen several major announcements including the withdrawal of Ulster Bank, the potential withdrawal of KBC Bank Ireland, and the forthcoming closure of a large number of bank branches by...

Written Answers — Department of Finance: Tax Code (15 Jun 2021)

Paschal Donohoe: I propose to take Questions Nos. 78, 89, 93, 103, 108, 116, 128, 366 to 369, inclusive, 395 and 398 together. The Government has noted the communique of 5 June from the G7 Finance Ministers which includes the desire for a global minimum effective tax rate of at least 15%. The G7 agreement is an important signpost towards an agreement but it is relevant also that there are 139 countries...