Results 8,981-9,000 of 33,923 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: The Sinn Féin support for the wealth tax comes and goes. It supported it a while ago but then I did not hear it mentioned for a long time. I hear it being mentioned the odd time again now.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: Maybe it is about to make a comeback. It is not in every alternative budget Sinn Féin has put forward.

Committee on Budgetary Oversight: Pre-Budget 2022 Scrutiny (Resumed): Minister for Finance (23 Sep 2021)

Paschal Donohoe: The Deputy who holds the prize for consistency with regard to wealth tax is Deputy Boyd Barrett rather than Deputy Doherty.

Written Answers — Department of Finance: Tax Code (23 Sep 2021)

Paschal Donohoe: I assume that the Deputy’s question may relate to the taxation of cross-border workers who are Irish resident but commute to work in another jurisdiction and claim relief in accordance with section 825A Taxes Consolidation Act 1997, which is commonly referred to as Trans-Border Workers’ Relief. The relief effectively removes the foreign employment income from a liability to...

Written Answers — Department of Finance: Budget 2022 (23 Sep 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: Budget 2022 (23 Sep 2021)

Paschal Donohoe: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. These can range from highly detailed and developed proposals for specific changes to existing taxes, reliefs, exemptions and allowances to more straightforward requests, for example, to increase the single person tax credit. Many submissions contain proposals...

Written Answers — Department of Finance: Fiscal Data (23 Sep 2021)

Paschal Donohoe: The Department of Finance published a report entitled Population Ageing and the Public Finances in Ireland on Friday September 17th. The purpose of the report is to highlight the likely economic and budgetary impacts of population ageing in Ireland over the coming decades. Included in the report, for illustrative purposes, is a hypothetical simulation that analyses the potential evolution of...

Written Answers — Department of Finance: Defective Building Materials (23 Sep 2021)

Paschal Donohoe: I propose to take Questions Nos. 207 to 209, inclusive, together. Local Property Tax (LPT) operates on a self-assessment basis and it is a matter for the property owner in the first instance, to calculate the tax due based on his or her assessment of the market value of the property. When making an assessment, issues such as the presence of pyrite would be one of the factors that a...

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

Paschal Donohoe: I am aware of recent media report regarding a publication concerning the tax arrangements of an individual taxpayer. From the outset, I must state that it is not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. I am informed by the Revenue Commissioners that Revenue uses a range of resources to identify instances of tax avoidance, which would...

Written Answers — Department of Finance: Tax Data (22 Sep 2021)

Paschal Donohoe: The 80% cap on capital allowances for intangible assets was re-introduced in Finance Act 2017 and it applies to all intangible assets on-shored from 11 October 2017. The cap only affects the timing of relief in the form of capital allowances and related interest expenses for intangible assets and does not affect the overall quantum of relief. This is because any amounts restricted in one...

Written Answers — Department of Finance: Cybersecurity Policy (22 Sep 2021)

Paschal Donohoe: I wish to confirm to the Deputy that my Department’s IT Infrastructure has a breadth of infrastructure monitoring in place and provides a 24/7 service, however for operational security reasons, my Department is not in a position to provide further details of its cyber security systems as it would be inappropriate to disclose information that may in any way assist those with malicious...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that a tentative estimate on the cost of reducing VAT on residential electricity supply based on the current Ready Reckoner would be in the region of €20m.

Written Answers — Department of Finance: Tax Yield (22 Sep 2021)

Paschal Donohoe: I am advised by the Revenue Commissioners that it’s not possible to obtain an exact figure for VAT raised from electricity as traders are not required to identify specific activities on their VAT returns. However, they do compile estimates based on the most recently available CSO / SEAI data. Below are estimates for the VAT yield for 2019 and 2020; 2019 - 224 (€m estimate) 2020...

Written Answers — Department of Finance: Flexible Work Practices (22 Sep 2021)

Paschal Donohoe: I wish to indicate to the Deputy that Departments and Offices are currently working in line with Government COVID-19 guidance, which provides for home working to continue where possible. My Department is an active participant on the interdepartmental working group that is developing a central policy framework for Blended Working in the Civil Service. It is expected that this will be...

Written Answers — Department of Finance: Flexible Work Practices (22 Sep 2021)

Paschal Donohoe: The following is the position in relation to those bodies under the aegis of my Department that have employees: The Central Bank of Ireland, which also provides staffing and facilities for the Investor Compensation Company DAC, is continuing to evolve its ways of working so that it is a fulfilling workplace for its staff and an effective organisation that can deliver on its mandate in the...

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

Paschal Donohoe: The temporary wage subsidy scheme (TWSS) closed at the end of August 2020, and I am advised that Revenue has been carrying out a programme of compliance checks on all employers who participated in the TWSS scheme to confirm eligibility and that the supports were properly paid out to qualifying employees. Revenue has confirmed that to date, compliance checks have been completed in respect of...

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

Paschal Donohoe: Finance Act 2008 introduced the Accelerated Capital Allowance (ACA) scheme for Energy Efficient Equipment (EEE). The scheme provides a tax incentive for companies and sole traders who invest in highly EEE. The ACA scheme allows taxpayers to deduct the full cost of expenditure on eligible equipment from taxable profits in the year of purchase. This differs to the standard treatment of capital...

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

Paschal Donohoe: I propose to take Questions Nos. 35 to 37, inclusive, together. I am advised by Revenue that the cost of tax relief on pension contributions for the years 2004 to 2018 (the latest year currently available) are available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf. For 2018 the published items in relation to pension...

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

Paschal Donohoe: Section 118(5A) of the Taxes Consolidation Act (TCA 1997) provides an exemption from benefit-in-kind (BIK) where an employer purchases a travel pass for an employee. Under section 118B TCA 1997 an employer and employee may also enter into a salary sacrifice arrangement under which the employee agrees to sacrifice part of his or her salary, in exchange for a travel pass. Where a travel pass is...

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

Paschal Donohoe: I propose to take Questions Nos. 39 to 42, inclusive, together. I am aware of recent media report regarding a publication concerning the tax arrangements of an individual taxpayer. From the outset, I must state that it is not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. I am informed by the Revenue Commissioners that Revenue uses a range of...