Results 9,181-9,200 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Real Estate Investment Trusts (11 May 2021)

Paschal Donohoe: I propose to take Questions Nos. 232, 246, 247 and 248 together. Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trust companies (REITs) in Ireland. The purpose of the REIT regime is to allow for a collective investment vehicle which provides a comparable after-tax return to investors to direct investment in rental property, by eliminating the double...

Written Answers — Department of Finance: Tax Exemptions (11 May 2021)

Paschal Donohoe: Investment funds are a long term presence in the Irish market, as in most other property markets. As with investment funds generally, tax occurs primarily at the level of the investor rather than within the fund. Additionally, in the case of both Irish Real Estate Funds (IREFs) and Real Estate Investment Trust companies (REITs), withholding taxes apply on distributions to investors to ensure...

Written Answers — Department of Finance: Mortgage Lending (11 May 2021)

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation...

Written Answers — Department of Finance: Financial Irregularities (11 May 2021)

Paschal Donohoe: I propose to take Questions Nos. 235 and 236 together. I am advised by Revenue that where suspected serious tax offences under section 1078 of the Taxes Consolidation Act 1997 are identified through Revenue’s various compliance programme, such cases are considered for investigation with a view to prosecution. Where sufficient levels of proof and evidence are obtained, a file is...

Written Answers — Department of Finance: Interest Rates (11 May 2021)

Paschal Donohoe: 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 such as the application of interest rate charges are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. I am advised by the Central Bank...

Written Answers — Department of Finance: Mortgage Lending (11 May 2021)

Paschal Donohoe: Since the COVID-19 situation first arose, I have maintained contact with the BPFI and lenders on the measures they have put in place to assist their customers who are economically impacted by the pandemic. In relation to the particular issue of new mortgage lending, the main retail banks previously confirmed that they are considering mortgage applications and mortgage drawdowns in relation...

Written Answers — Department of Finance: Departmental Funding (11 May 2021)

Paschal Donohoe: I wish to advise the Deputy that my Department has no record of any funding being provided by it to non-governmental organisations in 2020. I wish to note that my response refers only to Department of Finance records and I cannot comment on behalf of other Government Departments.

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

Paschal Donohoe: 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 on the employer’s...

Written Answers — Department of Finance: Departmental Staff (11 May 2021)

Paschal Donohoe: I wish to advise the Deputy that at 31 December 2020, the Full Time Equivalent (FTE) of staff employed in the Department of Finance was 312.18. The most recent figure available is at 30 April 2021, when there was an FTE of 323.13 staff. In 2020, €19,361,238 was spent on employee salaries, and is inclusive of PRSI, allowance, and overtime costs. This represented 94% of the budgeted...

Written Answers — Department of Finance: Departmental Contracts (11 May 2021)

Paschal Donohoe: I wish to inform the Deputy that my Department does not currently employ any persons or firms to deal with public relations. From August 2019 to January 2020, my Department had a public relations contract with Daniel J. Edelman Ireland Limited. This contract was for the provision of specialist advice on using social media in overseas markets to promote Ireland for Finance. The value of this...

Written Answers — Department of Finance: Gambling Sector (11 May 2021)

Paschal Donohoe: The regulation of gambling is the responsibility of my colleague the Minister for Justice and Equality. I am informed by Revenue that their role with regard to the issuing of remote bookmaker licences, such as the one issued to the case in question in 2018, is limited in that they issue the licence on receipt of the Certificate of Personal Fitness as well as the relevant excise licence...

Written Answers — Department of Finance: National Asset Management Agency (11 May 2021)

Paschal Donohoe: As the Deputy may be aware, NAMA does not typically own or sell properties. Rather, NAMA owns loans for which the properties act as security. The properties securing NAMA’s loans are owned and managed by their registered owners, or appointed receivers if enforced. I am advised that the sale of secured properties is wholly managed by NAMA’s debtors or receivers and it is...

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

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) was legislated for under the Financial Provisions (Covid-19) (No. 2) Act 2020. The EWSS 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 on the employer’s payroll and charges a reduced rate...

Seanad: Future of Banking in Ireland: Statements (10 May 2021)

Paschal Donohoe: I thank the Leas-Chathaoirleach for the opportunity to discuss the future of banking. I will open this discussion by updating the House on what I see as some of the key issues: the impact of Covid-19 and our response; the changing retail financial sector environment and the challenge for banks to secure an appropriate return; and the continuing effort to improve regulation and rebuild trust...

Seanad: Future of Banking in Ireland: Statements (10 May 2021)

Paschal Donohoe: The Senator got his hair cut though.

Seanad: Future of Banking in Ireland: Statements (10 May 2021)

Paschal Donohoe: There are two images that stick with me across a varied and interesting sharing of views in the Seanad this afternoon. The first was hearing Senator Burke talk about the changes in competition in Castlebar over many years, going from an environment in which there were many banks competing for the business of local residents to where it is now, where there are very few. The second image was...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (6 May 2021)

Paschal Donohoe: I believe that with regard to "staycation grant", the Deputy may be referring to the Stay and Spend Tax Credit scheme which terminated on 30 April. While I recognise the significant difficulties that remain to be faced by the hospitality sector, the decision not to extend the scheme into the summer months was taken in the broad interests of taxpayers and having regard to the substantial...

Written Answers — Department of Finance: Insurance Coverage (6 May 2021)

Paschal Donohoe: This Government is committed to bringing down the cost and increasing the availability of insurance for motorists, homeowners, businesses and voluntary groups alike. The Action Plan for Insurance Reform sets out 66 actions across several policy areas, with 95 per cent due to be completed by the end of 2021. Progress continues to be made across many areas, and the adoption of the Personal...

Written Answers — Department of Finance: Wage Subsidy Scheme (6 May 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which operated from 26 March 2020 to 31 August 2020 provided income support to eligible employees whose employers were negatively affected by the COVID-19 pandemic. Payments made to employees through the scheme are liable to income tax and Universal Social Charge (USC). The scheme was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1...

Written Answers — Department of Finance: Tax Code (6 May 2021)

Paschal Donohoe: I am advised by Revenue that the revised capital gains tax (CGT) entrepreneur relief applies to an individual who disposes of qualifying assets, including shares in a qualifying company. Gains on such disposals are charged to CGT at the rate of 10%, subject to a lifetime limit of €1m of gains. For the relief to apply, the assets must be used for the purposes of a qualifying business...