Results 9,081-9,100 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (25 May 2021)

Paschal Donohoe: In situations where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other. The basis for the current tax treatment of married couples...

Written Answers — Department of Finance: Banking Sector (25 May 2021)

Paschal Donohoe: As the Deputy will be aware, the main activity of IIB Homeloans Ltd. was the assessment, underwriting and management of residential mortgage backed credit facilities to retail customers. - This entity was regulated as a multi-agency intermediary under the Investment Intermediaries Act, 1995, from 1 July 2001 until 7 June 2005. - It was regulated as a retail credit firm from 1 June 2008...

Written Answers — Department of Finance: Stability and Growth Pact (25 May 2021)

Paschal Donohoe: The EU's fiscal rules, as set out in the Stability and Growth Pact (SGP), are an integral part of the EU’s broader economic governance framework. The key components of the fiscal rules are a 3 per cent of GDP threshold for the headline deficit, a 60 per cent debt-to-GDP threshold, a balanced budget after adjusting for the economic cycle (measured by the structural balance) and the...

Written Answers — Department of Finance: Departmental Schemes (25 May 2021)

Paschal Donohoe: Section 477C of the Taxes Consolidation Act 1997 requires that applicants for the Help to Buy Scheme (HTB) must be first-time buyers. This includes circumstances where there is more than one person involved in the purchase or building of a new home. The definition of first time buyer in Help to Buy is as follows: 'first-time purchaser' means an individual who, at the time of a claim under...

Written Answers — Department of Finance: Public Sector Staff (25 May 2021)

Paschal Donohoe: The staff of my Department are paid in line with Government pay policy. I wish to advise the Deputy that there are 6 civil servants in my Department who's salaries are less than the living wage of €12.30 per hour. To increase all 6 officers' salary to the living wage would cost a total of approximately €4,400 per annum. It should be noted that 5 of these officers will move...

Written Answers — Department of Finance: Cabinet Committees (25 May 2021)

Paschal Donohoe: The Government has prioritised the reform of the insurance sector in order to improve the cost and availability of this key financial service, including for businesses. The Action Plan for Insurance Reformsets out 66 actions in this regard across several policy areas, including my Department, with 95% due to be completed by the end of 2021. The Sub-Group of the Cabinet Committee on Economic...

Written Answers — Department of Finance: Tax Reliefs (25 May 2021)

Paschal Donohoe: I propose to take Questions Nos. 187 and 192 together. I am advised by Revenue that since 1 November 2016 a partial relief from Solid Fuel Carbon Tax (SFCT) applies to biomass products. Biomass products are defined as 'any solid fuel product with a biomass content of 30 per cent or more'. The current rates of relief applicable to solid fuel products containing biomass are as follows: ...

Written Answers — Department of Finance: Tax Yield (25 May 2021)

Paschal Donohoe: I understand the Deputy is seeking information relating to the rate of tax paid on rental income by companies, Real Estate Investment Trusts (REITs), Irish Real Estate Funds (IREFs) and any other fund model which may earn rental income on Irish property. I am advised by Revenue that they cannot provide a breakdown of taxable profits relating to Irish property investment between profits...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (25 May 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: Financial Services (25 May 2021)

Paschal Donohoe: The Statute of Limitations does not apply to the Central Bank’s powers to impose penalties on financial institutions for breaches of regulatory requirements under its Administrative Sanctions Procedure. In some instances, the Central Bank has the power to prosecute financial institutions for criminal offences under financial services legislation. Where the Central Bank has such a...

Written Answers — Department of Finance: Tax Rebates (25 May 2021)

Paschal Donohoe: I propose to take Questions Nos. 191 and 194 together. The Drivers and Passengers with Disabilities Scheme provides for repayment or remission of Value-Added Tax (VAT) and Vehicle Registration Tax (VRT), up to a certain limit, on the purchase of an adapted vehicle for the transport of a person with specific severe and permanent physical disabilities. It also provides for exemption from motor...

Written Answers — Department of Finance: Departmental Schemes (25 May 2021)

Paschal Donohoe: I am informed by Revenue that the number of applications approved and the cost to the Exchequer of the disabled drivers passenger vehicles and the fuel grant schemes by engine type in the years 2016 to 2020 is provided in the tables attached. Where the number is fewer than 10, these are indicated as such (“<10”) in accordance with Revenue’s statistical disclosure...

Written Answers — Department of Finance: Departmental Schemes (25 May 2021)

Paschal Donohoe: The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain organisations. In order to qualify for relief an organisation must be entered in...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (25 May 2021)

Paschal Donohoe: The Financial Provisions (Covid-19) (No. 2) Act 2020 (Act No. 8 of 2020) provides for the introduction of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support that gives a flat rate subsidy to qualifying employers based on the numbers of eligible employees on their payroll and the level of gross pay (to employees). The EWSS replaced the Temporary Wage Subsidy...

Written Answers — Department of Finance: Tax Code (25 May 2021)

Paschal Donohoe: Department of Social Protection (DSP) payments are generally classified as income and as such are liable to income tax but not Universal Social Charge (USC) and PRSI. This includes the State contributory pension and any weekly payments for adult dependants. The way in which tax is collected from DSP payments is dependent on whether a person is taxed through the PAYE system or through...

Written Answers — Department of Finance: Tax Exemptions (25 May 2021)

Paschal Donohoe: I refer the Deputy to my reply to him of 21 April last (No. 522) in which I advised that agricultural and forestry contractors were not currently eligible for tax relief under section 664A of the Taxes Consolidation Act 1997 as they are not considered to be carrying on a trade of farming. This is because farming, which is defined in section 654 of the Taxes Consolidation Act 1997, requires...

Written Answers — Department of Finance: Customs and Excise (25 May 2021)

Paschal Donohoe: It is assumed that the Deputy is referring to cross border sales of wine over the internet to consumers in Ireland. Such sales of alcohol products are referred to as “distance sales”. Distance sales of alcohol products from one EU Member State to a consumer in another Member State are subject to VAT in the Member State of destination of the supply, which would be Ireland...

Written Answers — Department of Finance: Tax Credits (25 May 2021)

Paschal Donohoe: As announced in my Budget 2021 speech, officials in my Department have commenced work on the development of a tax credit for the digital gaming sector. This is a sector that has seen exponential global growth in the past decade, which has not been reflected in the industry growth here in Ireland, and there are potential synergies with our established film and animation sectors to support...

Written Answers — Department of Finance: Departmental Data (25 May 2021)

Paschal Donohoe: For operational security reasons, my Department is not in a position to provide any details of its data security systems or those of the bodies under its aegis, as it would be inappropriate to disclose information that may in any way assist those with malicious intent.

Written Answers — Department of Finance: Tax Code (25 May 2021)

Paschal Donohoe: I propose to take Questions Nos. 203 and 210 together. As the Deputy is aware, on Wednesday 19th May a Financial Resolution before the Dáil, was passed which had the immediate effect of imposing a stamp duty rate of 10% on the multiple purchase of 10 or more residential property units, subject to certain conditions and exemptions. This higher charge will also apply to a...