Results 9,001-9,020 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Coverage (24 Mar 2021)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses.  However, you should be aware that the provision of insurance is a commercial matter for insurance companies, which is based on an assessment of the risks they are willing to accept. Consequently, neither I nor the Central Bank of Ireland can interfere in the...

Written Answers — Department of Finance: Tax Reliefs (24 Mar 2021)

Paschal Donohoe: As the Deputy will be aware, agricultural relief allows the value of agricultural assets gifted or inherited (including farmland, buildings, stock) to be reduced by 90% of its value for the calculation of a Capital Acquisition Tax (CAT) liability. This is a valuable relief from CAT and a fundamental objective of this relief is that it is availed of by genuine, and active...

Written Answers — Department of Finance: Insurance Industry Regulation (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 427 and 471 to 473, inclusive, together. I note all the details in the correspondence supplied relates to the recent publication of the Personal Injuries Guidelines and the impact they may have on the cost of insurance. At the outset, insurance reform is a priority for this Government, and the publication of the Guidelines delivers a key element...

Written Answers — Department of Finance: Departmental Correspondence (24 Mar 2021)

Paschal Donohoe: In response to the Deputy's question I wish to inform him that I have not held a meeting or received correspondence from the company regarding the senior executive accountability regime since January 2018.

Written Answers — Department of Finance: Departmental Correspondence (24 Mar 2021)

Paschal Donohoe: I would remind the Deputy that the Central Bank of Ireland is our independent financial services regulatory.  In undertaking its independent functions of supervising, investigating and carrying out an enforcement action with respect to the company that the Deputy has supplied details on, the Central Bank of Ireland did not notify me of the details of this enforcement action prior to its...

Written Answers — Department of Finance: Departmental Bodies (24 Mar 2021)

Paschal Donohoe: The Deputy’s office has clarified that the information sought relates specifically to the 16 employees of J&E Davy who were referred to in the Central Bank’s Enforcement Action Notice on 2ndMarch 2021. There are 8 State Boards under the aegis of my Department, including the Central Bank. As the Central Bank is subject to legal obligations of confidentiality with regard...

Written Answers — Department of Finance: Tax Code (24 Mar 2021)

Paschal Donohoe: I take it the Deputy is referring to the stamp duty levies that applied to the assets of funded pension arrangements introduced in 2011 to pay for the Jobs Initiative, the chargeable persons for which were the trustees of pension schemes and others responsible for the management of pension fund assets.      At the outset, it is important to note...

Written Answers — Department of Finance: Banking Sector (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 433 and 434 together. First of all, it is important to highlight that, as Minister for Finance, I have no direct role to play in the strategic decisions made by any corporate entity, including those relating to acquisitions and disposals of entire businesses or individual business units. Decisions in such matters are the sole responsibility of the boards and...

Written Answers — Department of Finance: Banking Sector (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 435 and 436 together. As I am sure the Deputy knows, the Strategic Banking Corporation of Ireland (SBCI) is, subject to the Strategic Banking Corporation of Ireland Act 2014, independent in the performance of its functions.  This includes any due diligence procedures. SBCI operates a number of loan guarantee schemes on behalf of the Department of...

Written Answers — Department of Finance: Tax Code (24 Mar 2021)

Paschal Donohoe: At the outset, the Deputy should note that it is not possible to accurately estimate changes in behaviour arising from  for instance a change in the rate of exit tax applicable to investment products. These investments tend to be long term investments and any investment decisions in relation to them are driven by multiple factors and not solely by taxation. The normal tax treatment...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (24 Mar 2021)

Paschal Donohoe: The Central Bank of Ireland Code of Conduct on Mortgage Arrears 2013 (CCMA) was introduced to ensure that regulated entities have fair and transparent processes in place for dealing with borrowers in or facing arrears on a mortgage which is secured on a primary residence, and it is part of the national policy framework of supports and protections available to assist borrowers in...

Written Answers — Department of Finance: Value Added Tax (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 440, 453 and 476 together. In recognition of the unprecedented challenges facing the Hospitality and Tourism sector, I provided for a reduction in the VAT rate to supplies of certain goods and services which primarily relate to the hospitality and tourism sector in Budget 2021. The rate was reduced from 13.5% to 9% from 1 November 2020 to 31 December...

Written Answers — Department of Finance: Wage Subsidy Scheme (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 441, 469, 491, 498 and 501 together. I am aware of concerns that have been raised regarding the pace of recovery for the live events sector, and that it has been suggested that the level of support be increased and/or that the application of some of the new State supports should be delineated on the basis of explicit sectoral qualification criteria....

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Mar 2021)

Paschal Donohoe: As the Deputy will be aware, on 18 March 2020, the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers, including those in the tourism and hospitality sectors, who were economically impacted by the Covid-19 crisis.  The measures included flexible loan repayment arrangements where needed, including loan...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 Mar 2021)

Paschal Donohoe: Following approval of the Finance Act 2020, which provides for the medical criteria for the Disabled Drivers Scheme, the HSE has been informed that medical assessments can recommence from 1stJanuary 2021. This is considered to be an interim solution only. A comprehensive review of the scheme, to include a broader review of mobility supports for persons with disabilities, will be conducted...

Written Answers — Department of Finance: Property Tax (24 Mar 2021)

Paschal Donohoe: I am informed by Revenue that it has engaged extensively with residential property owners who are experiencing financial difficulties since the pandemic began to agree flexible Local Property Tax (LPT) payment arrangements that best suit their circumstances and avoid unnecessary hardship, and it has assured me that this will continue to be the case. Any property owners experiencing financial...

Written Answers — Department of Finance: Legislative Process (24 Mar 2021)

Paschal Donohoe: (1) Details of the process through which the Department of Finance drafts and produces legislation The Department drafts and produces legislation in accordance with the procedures outlined in the Cabinet Handbook.In particular, Chapter 4 sets out the procedures to be followed in respect of proposals for new legislation. In broad terms, the Department develops policy proposals subject, where...

Written Answers — Department of Finance: Value Added Tax (24 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the amounts of Value-Added Tax (VAT) claimed by persons who are not registered for VAT across a range of schemes is published each year in the Cost of Tax Expenditures Table, which is available at link: . The data for 2020 will be published in the coming months.  In addition to the above, farmers who are not registered for VAT may reclaim VAT paid in relation...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman (24 Mar 2021)

Paschal Donohoe: The function of Financial Services and Pensions Ombudsman (FSPO) is to investigate complaints made against financial service providers and pension providers in an appropriate manner, proportionate to the nature of the complaint, by informal means, mediation or formal investigation including Oral Hearings if required. To be eligible to make a complaint to the FSPO, the person making the...

Written Answers — Department of Finance: Consumer Protection (24 Mar 2021)

Paschal Donohoe: Since the introduction of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015, credit servicing firms have been subject to the provisions of Irish financial services law that apply to regulated financial services providers, including but not limited to: - The Consumer Protection Code, - the Code of Conduct for Mortgage Arrears, - the Central Bank (Supervision...