Results 9,101-9,120 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (10 Mar 2021)

Paschal Donohoe: Section 78(2) of the Credit Union Act 1997 provides that the annual general meeting of a credit union in respect of any financial year to 30 September shall be held in the October, November, December or January following the end of that financial year. The Finance (Miscellaneous Provisions) Act 2020 provides that the annual general meeting of a credit union for the financial year ended...

Written Answers — Department of Finance: Wage Subsidy Scheme (10 Mar 2021)

Paschal Donohoe: The Deputy will be aware that 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...

Written Answers — Department of Finance: Help-To-Buy Scheme (10 Mar 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive was introduced in 2017. The measure is scheduled to expire on 31 December 2021. Revenue provide monthly and annual statistics on the scheme (available at: ) The following table summarises approved claims for each year since the inception of the scheme until end 2020 (the latest date for which data are available). 2017 2018 2019 ...

Written Answers — Department of Finance: Departmental Internships (10 Mar 2021)

Paschal Donohoe: There are 17 bodies under the aegis of my Department, 8 of which facilitated student work experience or internships in 2019. The Central Bank provided 90 student placements for work experience and internships, with a total wage cost of €618,000. It estimates capacity for 78 such placements on an annual basis. In addition, the Central Bank also facilitates unpaid transition year...

Written Answers — Department of Finance: Banking Sector (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 287 and 308 together. 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...

Written Answers — Department of Finance: Wage Subsidy Scheme (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 288 and 297 together. I am aware of the particular concerns and issues that arise for the aviation and tourism sectors arising from the Covid-19 pandemic. However, the reality is that our whole economy and labour market have been rapidly transformed by this unprecedented shock and nearly all sectors have been negatively impacted either directly or...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 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 industry, who were economically impacted by the Covid-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially...

Written Answers — Department of Finance: Value Added Tax (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 290, 295 and 305 together. Deputies will be aware that 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...

Written Answers — Department of Finance: Legislative Measures (10 Mar 2021)

Paschal Donohoe: As the Deputy will be aware, the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. One of the main roles of the Ombudsman is to investigate, mediate and adjudicate complaints about the conduct of financial or pension service providers....

Written Answers — Department of Finance: Economic Data (10 Mar 2021)

Paschal Donohoe: Data for individual consumption per capita across Ireland’s NUTS III regions are not currently available. Overall, personal consumption per capita in 2020 was €20,593 (in current market prices). In 2019, there had been a recovery of approximately 24 per cent since the trough of per capita consumption in 2011. This has been followed by a fall of 9 per cent in 2020 due to the...

Written Answers — Department of Finance: Customs and Excise (10 Mar 2021)

Paschal Donohoe: I am advised by Revenue that Ireland’s customs import declaration system, Automated Import System (AIS) which was introduced in November 2020 and Ireland’s Automated Entry Processing (AEP) which processes both import and export declarations, use electronic data processing for managing customs declarations. In that regard, the customs import and export documentation required...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 296 and 303 together. The 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. Details of CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as...

Written Answers — Department of Finance: Covid-19 Pandemic (10 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the time limit for making refunds of overpaid tax is set out in section 865 Taxes Consolidation Act 1997. There have been numerous decisions of the Tax Appeals Commission which state that the Revenue Commissioners have no discretion to repay tax if a claim has been received from a taxpayer outside the four-year statutory period. Although the “four...

Written Answers — Department of Finance: Community Banking (10 Mar 2021)

Paschal Donohoe: As the Deputy is aware, Indecon submitted their report on Evaluation of Concept of Community Banking in Ireland to the Department of Finance in late 2019. The report was sent to Government and published in December 2019. The report contained 15 recommendations, grouped under the following subject areas: - Leveraging role of state supports for SMEs infrastructure to address market...

Written Answers — Department of Finance: Value Added Tax (10 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In accordance with the Directive our legislation exempts from VAT hospital and medical care or treatment provided by a hospital, nursing home, clinic or similar establishment, which includes medical tests used to diagnose and treat cancer. The...

Written Answers — Department of Finance: Covid-19 Pandemic (10 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 hospitality sector, who were economically impacted by the Covid-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks...

Written Answers — Department of Finance: Covid-19 Pandemic (10 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the current tax warehousing schemes allow for the deferral of collection of certain tax liabilities relating to “Period 1”, the “Covid-19 restricted trading period”. The tax liabilities that may be deferred or “warehoused” are VAT, PAYE (Employer) liabilities, excess Temporary Wage Subsidy Scheme (TWSS) payments due to be...

Written Answers — Department of Finance: Economic Data (10 Mar 2021)

Paschal Donohoe: Professor Honohan’s letter compares Ireland’s economic prosperity internationally using per capita measures of Gross Domestic Product (GDP), modified Gross National Income and Actual Individual Consumption. As the letter highlights, using GDP as a comparative measure of the size of the Irish economy internationally is not representative as it does not accurately reflect what is...

Written Answers — Department of Finance: Tax Code (10 Mar 2021)

Paschal Donohoe: The Deputy will be aware that at their 26 February meeting, the G20 Finance Ministers and Central Bank Governors re-iterated their support for finding a solution to the tax challenges raised by globalisation and the digitalisation of the economy. I share this goal, and in this context, Ireland is engaging constructively in the discussions at the OECD/G20 Inclusive Framework on BEPS where...

Written Answers — Department of Finance: Financial Services Regulation (10 Mar 2021)

Paschal Donohoe: I have not engaged directly with J and E Davy regarding the investigation and sanction by the Central Bank of Ireland but the Deputy will be aware of statements I have made on the matter since it emerged into the public domain, reflecting the seriousness in which I view the matter. The Deputy will also be aware of the decision by the Board of the NTMA on 8th March to withdraw J &...