Results 9,321-9,340 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which is provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, operated from 26 March 2020 to 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. The scheme was introduced as an emergency measure to provide financial support to businesses that were severely...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: As the Deputy is aware, as Minister for Finance 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. I am precluded from intervening on behalf of any individual customer in any particular bank. Decisions in relation to commercial matters are the sole responsibility of the board and management of the banks,...

Written Answers — Department of Finance: Brexit Issues (24 Feb 2021)

Paschal Donohoe: I am informed by Revenue that a person who holds a primary medical certificate is entitled to a remission or repayment of VAT and VRT (up to a certain limit) under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations. Further information on the scheme is available here. Following the withdrawal of the UK from the European Union, an import of a vehicle from Great...

Written Answers — Department of Finance: Ireland Strategic Investment Fund (24 Feb 2021)

Paschal Donohoe: The NTMA informs me that ISIF has made an aggregate of €66m investment into Genuity Science, comprised of €5m investment into Genomics Medicine Ireland in October, 2016, which was later acquired by WuxiNextCode, and a €61m investment into WuxiNextCode in November 2018. WuxiNextCode has since been re-named Genuity Science. All investments were made on commercial terms.

Written Answers — Department of Finance: Gambling Sector (24 Feb 2021)

Paschal Donohoe: The purpose of betting duty is to raise revenues for the State and to account for the negative internalities and externalities generated from betting activities – that is the social costs of problem gambling. There is no direct hypothecation of betting duty to particular causes. Rather, revenues raised from betting duty go directly to the Exchequer and are then partly used to fund the...

Written Answers — Department of Finance: Mortgage Lending (24 Feb 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: Tax Collection (24 Feb 2021)

Paschal Donohoe: I am aware that Revenue has implemented a range of administrative concessions to assist taxpayers, and their tax agents, in meeting tax return filing and payment deadlines since the beginning of the pandemic, including the suspension of late filing surcharges. Regarding Corporation Tax (CT1) returns, I am advised by Revenue that late filing surcharges in respect of the 2019 tax year have...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Debt Warehousing Scheme remains available to support businesses that are experiencing tax payment difficulties arising from the COVID-19 pandemic. The scheme applies to VAT debts, PAYE (Employer) debts, self-assessed income tax amounts (balance of 2019 Income Tax liability and 2020 preliminary tax) and Temporary Wage Subsidy Scheme (TWSS) overpayments. The scheme allows businesses to...

Written Answers — Department of Finance: Credit Unions (24 Feb 2021)

Paschal Donohoe: In accordance with the Credit Union Act credit unions need the approval of their members at an AGM to pay dividends. In the rules set by members, not by legislation, most credit unions cannot pay a loan interest rebate without having first approved a dividend. I have been informed by the Central Bank, that in a circular issued to all credit unions recently they set out their...

Written Answers — Department of Finance: Tax Rebates (24 Feb 2021)

Paschal Donohoe: I propose to take Questions Nos. 221 and 222 together. 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)...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 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: Departmental Expenditure (24 Feb 2021)

Paschal Donohoe: My Department has incurred no expenditure, nor is it committed to any expenditure under current contracts or agreements, regarding awareness raising campaigns of Covid-19.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme provided the payment of income supports to employers in respect of eligible employees, where the employer’s business activities had experienced significant negative disruption due to the COVID-19 pandemic. The scheme was available to all employers, irrespective of how that employer operates (i.e. limited company, sole trade, partnership etc.)....

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: As the Deputy may be aware the Financial Services Union (FSU) has suggested the establishment of a Banking Forum to consider the future of banking. When I met with the FSU, last December, I outlined that I did not think my Department should participate in the Forum as I was concerned that it would not represent a model of good governance to have competent authorities, such as the...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: I have been briefed on certain discussions and am supportive of trying to bring about an outcome that is good for both AIB and PTSB, the banks referenced in the recent Nat West announcement, but more importantly for Ulster Bank’s customers, staff and the Irish economy generally. The loss of Ulster Bank after so many years is deeply disappointing and will have difficult consequences...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: As the Deputy will be aware, the NatWest Group announced its 2020 Full Year results on Friday, 19th February. As widely expected, NatWest confirmed that it intends withdrawing from the banking sector in the Republic of Ireland and has begun the process of winding down its ROI Ulster Bank business. As part of this process, NatWest confirmed that it is in negotiations with AIB in relation...

Written Answers — Department of Finance: Mortgage Lending (24 Feb 2021)

Paschal Donohoe: There is a significant consumer protection framework in place to protect residential mortgage borrowers and to deal specifically with the maintenance of these protections in the event of a loan transfer. Where a loan is sold or transferred to another regulated entity, the consumer protections that were available to borrowers prior to the transaction continue to be in place with the new...

Written Answers — Department of Finance: Banking Sector (24 Feb 2021)

Paschal Donohoe: I propose to take Questions Nos. 231 and 232 together. The NatWest Group (NatWest) announced its 2020 Full Year results on Friday, 19 February. As widely expected, NatWest confirmed that it intends withdrawing from the banking sector in the Republic of Ireland and gradually wind down its Ulster Bank business. NatWest concluded that Ulster Bank would not be able to achieve an...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (24 Feb 2021)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was introduced on 26 March 2020 to provide income support to eligible employees where the employer’s business activities were negatively impacted by the COVID-19 pandemic. This scheme ended on 31 August 2020 and was replaced by the Employer Wage Subsidy Scheme (EWSS) from 1 September 2020. The transitional phase of TWSS operated until 3...

Written Answers — Department of Finance: Insurance Industry Regulation (24 Feb 2021)

Paschal Donohoe: At the outset, while I have an appreciation of the specific issue the Deputy raises, neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, as this is a commercial matter. In addition, we cannot compel any insurer operating in the Irish market to provide cover to specific individuals or groups, such as businesses or community service providers. This position...