Results 9,221-9,240 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Apr 2021)

Paschal Donohoe: The objective of the Employment Wage Subsidy Scheme (EWSS) is to support all employment and maintain the link between the employer and employee insofar as is possible. The EWSS has been a key component of the Government’s response to the continued Covid-19 crisis to support viable firms and encourage employment in the midst of these very challenging times. As of the week ending 23...

Written Answers — Department of Finance: Tax Yield (29 Apr 2021)

Paschal Donohoe: On 21stJuly 2020, Heads of State and Government reached agreement on the Post-2020 Multiannual Financial Framework (MFF) and Next Generation EU (NGEU), totalling €1.82 trillion. The agreement by leaders also made a number of changes to the current system of Own Resources, including the introduction of a plastic-based contribution based on non-recycled plastic packaging. The plastic...

Written Answers — Department of Finance: Value Added Tax (29 Apr 2021)

Paschal Donohoe: Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, which in Ireland is 23%. Parts or accessories are also liable to VAT at the standard rate. There is no provision under existing VAT law that would make it possible to apply a reduced rate or zero rate to the supply of such products. Under the EU VAT Directive, Member States may retain the zero...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Apr 2021)

Paschal Donohoe: Revenue is statutorily bound to confidentiality in respect of taxpayer information. Section 851A of the Taxes Consolidation Act 1997 formalises taxpayer confidentiality and reassures taxpayers that their personal and commercial information disclosed to Revenue for tax purposes is protected against unauthorised disclosure by Revenue to third parties.  Therefore, Revenue is precluded...

Written Answers — Department of Finance: Insurance Costs (29 Apr 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. In this regard the Action Plan for Insurance Reform sets out 66 actions across several policy areas, including my Department, with 95% due to be completed by the end of 2021. At its most recent quarterly meeting in...

Written Answers — Department of Finance: Customs and Excise (28 Apr 2021)

Paschal Donohoe: From 1 January 2021, Irish businesses must comply with customs formalities when moving goods to, from or through the UK (excluding Northern Ireland). The legal basis for these formalities are set out in the Trade and Cooperation Agreement agreed between the EU and the UK in December last year, in the Union Customs Code which governs the customs requirements for trade with non-EU countries and...

Written Answers — Department of Finance: Tax Code (28 Apr 2021)

Paschal Donohoe: The estimated yield from the annual increase in the carbon tax is not included in the tax revenue forecast in the Draft Stability Programme Update (SPU). There are two reasons for this. Firstly, the expenditure estimates in the SPU were compiled on a technical basis with expenditure ceilings assumed to rise by 3.5 per cent annually. There were no further adjustments other than an assumed...

Written Answers — Department of Finance: Departmental Staff (28 Apr 2021)

Paschal Donohoe: I wish to advise the Deputy that arrangements for the filling of the Secretary General, Department of Finance post are a matter for the Government. The post will not come within the remit of the Top Level Appointments Committee (TLAC) but appointment to this post will take account of the key competencies that have been developed for use by TLAC for Secretary General Posts. Leadership...

Written Answers — Department of Finance: Insurance Coverage (28 Apr 2021)

Paschal Donohoe: I note that the details supplied relate to difficulties in acquiring insurance for a hackney. While I have regard for the circumstances in question, as the Deputy will appreciate, I cannot comment on individual cases. Furthermore, neither I, nor the Central Bank of Ireland, can compel any insurer operating in the Irish market to provide cover to specific individuals or groups. This position...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (28 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 261 to 264, inclusive, together. 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....

Written Answers — Department of Finance: Tax Reliefs (28 Apr 2021)

Paschal Donohoe: Section 473A of the Taxes Consolidation Act 1997 provides for income tax relief in respect of qualifying tuition fees paid by an individual for a third level education course (including a postgraduate course), subject to the conditions set out in that section. The relief is granted at the standard rate of income tax (currently 20%), where an individual pays “qualifying fees” for...

Written Answers — Department of Finance: Banking Sector Staff (28 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 266, 269 and 275 together. It is important to highlight that, as Minister for Finance, I have no role to play in negotiations between KBC Group and Bank of Ireland which could see the latter party acquiring substantially all of KBC’s Irish business. Nor do I have a role in approving any deal that may be agreed between the two parties. Although...

Written Answers — Department of Finance: Tax Data (28 Apr 2021)

Paschal Donohoe: The Carbon Tax rate will increase each year for the next 10 years based on a programme of changes in the amount charged for carbon emissions, starting from the current level of €33.50 per tonne of CO2 and concluding at €100 per tonne of CO2 in 2030. Revenue’s Ready Reckoner shows a wide range of detailed information in relation to potential tax changes, including on page...

Written Answers — Department of Finance: Pensions Reform (28 Apr 2021)

Paschal Donohoe: The European Commission proposal for a Pan-European Personal Pension Product (PEPP) was adopted by Council in 2019. Separately, the Level 2 Regulatory Technical Standards were approved by Council and published on 22 March 2021. Accordingly, the Regulation will enter into application by 22 March 2022 - a year following the technical standards publication. The Pensions Policy Unit within...

Written Answers — Department of Finance: Pension Provisions (28 Apr 2021)

Paschal Donohoe: I am aware of a number of reports into charges applied to pension plans. However, while I understand a document on charges has been recently reported on, to date such a document has not been submitted to my Department and as such I cannot comment on its content. Having said that, as Minister for Finance my role in the pension policy space primarily relates to the provision of tax relief...

Written Answers — Department of Finance: Tax Data (28 Apr 2021)

Paschal Donohoe: Excise Receipts by Commodity are published on the website of the Office of the Revenue Commissioners. The Carbon Tax paid in respect of Marked Gas Oil (green diesel) in each of the years 2015 to 2019 is available under this publication which can be accessed at the address below: The provisional Carbon Tax receipt amount for 2020 is €65.1 million. This amount may be subject to adjustment.

Written Answers — Department of Finance: Tax Code (28 Apr 2021)

Paschal Donohoe: I am advised by Revenue that on their website they provide a Ready Reckoner which shows a wide range of detailed information in relation to potential tax changes. The Ready Reckoner shows projected Exchequer costs and yields of potential tax changes, including on page 6, estimated increases to the Standard Rate Cut Off points for income tax in tabular form. The Revenue Ready Reckoner is...

Written Answers — Department of Finance: Insurance Coverage (28 Apr 2021)

Paschal Donohoe: I propose to take Questions Nos. 273, 277 and 282 together. At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance (the...

Written Answers — Department of Finance: Help-To-Buy Scheme (28 Apr 2021)

Paschal Donohoe: I am advised by Revenue that detailed monthly statistics are published on the Help to Buy (HTB) scheme, available at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/tax-expenditures/htb/htb-monthly.aspx. These statistics include the numbers of applications and claims. They are updated monthly. An extract of the relevant statistics is presented in the table below: ...

Written Answers — Department of Finance: Value Added Tax (28 Apr 2021)

Paschal Donohoe: From 1stJanuary 2021, following the last Finance Bill, menstrual cups have a reduced VAT rate of 13.5% applied to them. As the Deputy may be aware, Ireland is the only country in the EU which applies a zero rate of VAT to period products. This was the rate that applied in 1991 and we have been able to maintain that rate under the provisions of the EU VAT Directive that allow for a zero rate...