Results 9,121-9,140 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Property Tax (11 Mar 2021)

Paschal Donohoe: The Government agreed with the recommendation of the 2012 Inter-Departmental Group, which considered the structures and modalities of a property tax, that a universal liability to LPT should apply to all owners of residential property with a limited number of exemptions. Limiting the exemptions available allows the LPT rate to be kept low for those liable persons who do not qualify for an...

Written Answers — Department of Finance: Banking Sector (11 Mar 2021)

Paschal Donohoe: 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 be run on an independent and commercial basis. The...

Written Answers — Department of Finance: Banking Sector (11 Mar 2021)

Paschal Donohoe: The response to the Deputy's parliamentary question which I answered on 4th March still stands. One point I wish to re-emphasise is the fact that Bank of Ireland has confirmed that no branch will close for six months. In its announcement, Bank of Ireland acknowledged that it accepts that news of its branch closures will cause concern for some customers, and for the communities that...

Written Answers — Department of Finance: Financial Services Sector (11 Mar 2021)

Paschal Donohoe: The Deputy will by now be aware of the decision by the Board of the National Treasury Management Agency (NTMA) on Monday, 8th March, to withdraw J&E Davy’s authority to act as a primary dealer in Irish Government bonds. The NTMA wishes to maintain both Ireland's reputation as a sovereign issuer in the bond market and also the orderly functioning of the market for Irish...

Written Answers — Department of Finance: Brexit Issues (11 Mar 2021)

Paschal Donohoe: Since the Brexit referendum result in 2016, the Government has taken steps to build up the resilience of the economy. This involved actions across the whole of Government, including supports to businesses to diversify trade beyond the UK market. More recently, to prepare our economy for the immediate impacts of Brexit, the Government in Budget 2021 allocated unprecedented resources to...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (11 Mar 2021)

Paschal Donohoe: The main direct Covid-19 supports under the aegis of my Department and the Revenue Commissioners are the Employment Wage Subsidy Scheme (EWSS) and the Covid Restriction Support Scheme (CRSS). 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...

Written Answers — Department of Finance: Vehicle Registration Tax (11 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the vehicle in question was registered for Vehicle Registration Tax (VRT) purposes on 2 March 2021. Revenue has also advised me that the delay in completing the registration process for the vehicle was due to the higher than normal volumes of applications received in late 2020 and early 2021. Revenue has confirmed that the backlog in applications is largely...

Written Answers — Department of Finance: Financial Services Sector (11 Mar 2021)

Paschal Donohoe: I am advised that NAMA did not procure any services from J&E Davy during the period from 2014 to 2020 and to date in 2021, nor for any time preceding that, and accordingly has paid nil fees to the company.

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

Paschal Donohoe: I propose to take Questions Nos. 265 and 291 together. I have outlined on more than one occasion my views and those of Government regarding the expectation that we have in relation to the conduct of the financial services sector and senior people within those organisations that are in a position of trust. The matter is an evolving situation, but at this point I note that a number of...

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

Paschal Donohoe: The Government wants to ensure that the banking and financial system is one which will effectively contribute and support economic growth and employment. Competition in the sector is vital to ensure that businesses and consumers have a range of banking options available when using financial services and accessing credit. The withdrawal of Ulster Bank is regrettable for its customers and...

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

Paschal Donohoe: The temporary reduction in the standard rate of VAT to 21% announced in the July Stimulus Package was projected to cost €440m. I am advised by Revenue that it is not yet possible to calculate the actual cost foregone as VAT tax returns, which are usually filed by traders every two months, do not report collection by VAT rate. The Revenue Ready Reckoner published at contains, on page...

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

Paschal Donohoe: I propose to take Questions Nos. 268, 298 and 300 together. The application of interest rate charges is solely a commercial matter for the board and management of each bank. I have no role in the day to day operations of any bank operating within the State including banks in which the State has a shareholding. Decisions in relation to commercial matters are the sole responsibility of the...

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

Paschal Donohoe: As the Deputy is aware and as set out in the Relationship Framework for PTSB, due to its systemic importance to the Irish financial system, the bank received significant support from the State in the financial crisis. This support led to the State becoming the majority shareholder in PTSB with the approval of the European Commission. This approval was subject to the Minister and the Bank...

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

Paschal Donohoe: As the Deputy is aware and as set out in the Relationship Framework for Bank of Ireland, due to its systemic importance to the Irish financial system, the bank received significant support from the State in the financial crisis. This support led to the State becoming a significant shareholder in Bank of Ireland with the approval of the European Commission. This approval was subject to...

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

Paschal Donohoe: As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned in one year and not allow relief for losses incurred in another. Loss relief works by...

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

Paschal Donohoe: As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned in one year and not allow relief for losses incurred in another. Loss relief works by...

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

Paschal Donohoe: The purpose of the Stay and Spend Tax Credit scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. In order to claim the Stay and Spend Tax Credit, taxpayers are required to upload a copy of their receipt(s) for qualifying expenditure to the Revenue Receipts Tracker...

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

Paschal Donohoe: Where e-workers incur certain extra expenditure in the performance of their duties of employment remotely or from home, such as additional heating and electricity costs, there is a Revenue administrative practice in place that allows an employer to make payments up to €3.20 per day to such employees, subject to certain conditions, without deducting PAYE, PRSI, or USC. Revenue have...

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

Paschal Donohoe: I propose to take Questions Nos. 275, 280 and 307 together. The Deputy will be aware that from 1 January 2021, the UK is a 3rd country for the purposes of trade and movement of goods. This means that a range of customs formalities apply to goods moving to, from or through the United Kingdom, excluding Northern Ireland. Imports of goods from Great Britain must be declared to customs and are...

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

Paschal Donohoe: As the Deputy may be aware, banks are required to notify the Central Bank when they intend to close, merge or move a branch. The Central Bank has informed my officials that its focus regarding branch closures is to ensure that banks adhere to the relevant requirements in the Consumer Protection Code 2012 (the Code) and how banks communicate the closures to their customers. Banks must ensure...