Results 9,421-9,440 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Cycle to Work Scheme (10 Feb 2021)

Paschal Donohoe: Section 118(5G) of the Taxes Consolidation Act 1997 provides for the cycle to work scheme. This scheme provides an exemption from benefit-in-kind where an employer purchases a bicycle and associated safety equipment up to a maximum of €1,500 for e-bikes and €1,250 for other bicycles for an employee to use, in whole or in part, to travel to work. These thresholds were increased...

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

Paschal Donohoe: I am advised by Revenue that regulation of the importation of animal medication is a matter for the Department of Agriculture, Food and the Marine and as a result, Revenue has not seized any of the items specified in the last five years. I am further advised that Revenue officials refer all declarations of animal medication to officers from the Department of Agriculture, Food and the Marine...

Written Answers — Department of Finance: Property Tax (10 Feb 2021)

Paschal Donohoe: I am informed by Revenue that it has engaged extensively with residential property owners who are experiencing financial difficulties since the pandemic began to agree flexible Local Property Tax (LPT) payment arrangements and has assured me that it will continue to do so.g Any property owners experiencing financial difficulties can avail of a wide range of flexible payment options both...

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

Paschal Donohoe: The Help to Buy (HTB) incentive was introduced in 2017. The measure is currently scheduled to expire on 31 December 2021. HTB gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. An increase in the supply of new housing remains a priority aim of Government policy. The...

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

Paschal Donohoe: I am advised by Revenue that concessional treatment has been agreed in relation to the operation of the benefit-in-kind (BIK) tax charge on employer-provided vehicles during the course of COVID-19 related travel restrictions. Therefore, where an employer provided vehicle is made available to an employee the following will apply for the time being: (a) Employer Takes Back Possession of the...

Written Answers — Department of Finance: Insurance Industry (10 Feb 2021)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses. However, you should be aware that the provision of insurance is a commercial matter for insurance companies, which is based on an assessment of the risks they are willing to accept. Consequently, neither I nor the Central Bank can interfere in the provision or...

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

Paschal Donohoe: I do not plan on extending the temporary reduction from 23% to 21% in the standard rate of VAT beyond the end of February.

Written Answers — Department of Finance: Mortgage Lending (10 Feb 2021)

Paschal Donohoe: As the Deputy is aware, last March the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically impacted by the Covid-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially for a period up to three months and then subsequently...

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

Paschal Donohoe: I am advised by Revenue that, based on provisional 2020 data, the yield to the Exchequer from the abolition of tax relief for private health insurance premiums is estimated to be of the order of €377 million per year. The estimated yield to the Exchequer from reducing the current rate of tax relief for private health insurance premiums from the standard rate of 20% to 12% would be of...

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

Paschal Donohoe: I brought forward an amendment to the Finance Bill to provide for the existing medical criteria in primary legislation. Following approval of the Finance Act 2020, which provides for the medical criteria for the Disabled Drivers Scheme, the HSE has been informed that medical assessments can recommence from 1stJanuary 2021. This is considered to be an interim solution only. A comprehensive...

Written Answers — Department of Finance: Covid-19 Tests (10 Feb 2021)

Paschal Donohoe: Since the commencement of the COVID-19 pandemic Revenue has published guidance on a range of matters to assist taxpayers in meeting their tax obligations, and to make them aware of several concessionary measures which have been introduced since March 2020 on foot of the unprecedented impact of the pandemic. Details of all COVID-19 related matters can be found on Revenue’s website,...

Written Answers — Department of Finance: Vehicle Registration Tax (10 Feb 2021)

Paschal Donohoe: I am advised by Revenue that the application by the person in question for a Transfer of Residence exemption in respect of Vehicle Registration Tax (VRT) was received on 15 January 2021. Following some further engagement by Revenue to determine the person’s entitlement, the exemption was approved and notified to the person on 6 February 2021. Revenue has confirmed that the vehicle...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: There will be a summer economic statement, although I will have to consult within Government regarding the format of the SES. Many of the difficulties we had in respect of economic uncertainty will be better than they were a year ago. I still anticipate they will be present in a way that will be unlike many other years. Anyway, there will be an SES, but I will have to agree the format with...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I thank the Deputy. First, I believe there should be engagement between the relevant Oireachtas committee and myself or the Minister, Deputy McGrath, or both, regarding the submission to the recovery and resilience fund, but I do not believe it should be the subject of a resolution from the Dáil. It is a matter for the Government to decide on what our application is going to be and we...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I emphasise and agree with the remarks of the Minister, Deputy McGrath. We are in a public health emergency and have emergency economic measures in place to help our society and, indeed, Europe deal with this pandemic. This week we are directly supporting the income of just over a million of our fellow citizens in terms of those who were on jobseeker’s payments before this crisis and...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I will take that question. If by referring to a short sharp movement the Deputy means a very rapid withdrawal of the measures we have in place and trying to move from having a deficit to being in balance in a very short period, that is not what we are envisaging. It will take time for our economy and society to recover. A withdrawal too quickly of the measures we have in place could be...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I will just make three points. The Deputy is correct to call out the fairly significant increase in household savings. I understand that the last set of figures that were produced by the Central Statistics Office indicated that the level of household savings in the economy for the quarter in which they measured it had increased by nearly one third. Such a level of increase is a significant...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: How the money is used his key.

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: I will come in on that. I agree with the point the Deputy made about the language of how we communicate where we are on economic policy. I was engaged in a one-man campaign in the previous Dáil to banish the terms "gross fiscal space" and "net fiscal space" from any conversation in which I was involved, and the Deputy's words will encourage me to keep at it. We need to challenge...

Committee on Budgetary Oversight: Framework for Parliamentary Engagement Throughout the Budgetary Cycle: Discussion (9 Feb 2021)

Paschal Donohoe: Hands-free?