Results 9,541-9,560 of 33,175 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services Regulation (31 Mar 2021)

Paschal Donohoe: The Deputy will understand, I am sure, that it would not be appropriate for me to comment on the internal affairs of a private company in which I have no role. The board of the company in question has announced its decision to pursue a sale of the Group, and I have previously indicated my support for that decision. It is important to have a stable, well-managed, local stockbroking...

Written Answers — Department of Finance: Mortgage Lending (31 Mar 2021)

Paschal Donohoe: The Deputy will know that, in the immediate aftermath of the onset of the COVID-19 pandemic last year, there was a significant decline in the level of mortgage approvals. However, this was reversed in the latter part of last year with BPFI data indicating that the number and value of mortgage approvals for each month since September at their the highest level compared to the same month in...

Written Answers — Department of Finance: Value Added Tax (31 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the rate of VAT applicable to supplies of goods and services is subject to EU VAT law, with which Irish VAT law must comply. The milk recording service is an agricultural service and the amounts payable by farmers for this service are chargeable to VAT, in the State, at the reduced rate of VAT, currently 13.5%. EU Member States are entitled to apply the reduced...

Written Answers — Department of Finance: Tax Avoidance (31 Mar 2021)

Paschal Donohoe: I recall that the Deputy and I discussed this issue during at the Committee and Report Stages of Finance Bill 2020, where I explained that aggressive tax planning by multinational companies is a global problem that requires countries to work together to find an effective global solution. Ireland is actively participating in the on-going discussions at the OECD to reform the international...

Written Answers — Department of Finance: European Central Bank (31 Mar 2021)

Paschal Donohoe: As the Deputy is aware, the Eurosystem (that is, the national central banks of the euro area plus the ECB) conducts purchases of public sector securities under the public sector purchase programme (PSPP) and as part of the pandemic emergency purchase programme (PEPP). The PSPP forms part of the ECB’s Asset Purchase Programme (APP), which is part of a package of non-standard...

Written Answers — Department of Finance: Banking Sector (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 121 and 130 together. NatWest's decision to withdraw Ulster Bank from the Irish market and the decision by Bank of Ireland to close 88 branches in the Republic of Ireland are regrettable and they represent unfavourable developments for the Irish banking market. NatWest is in early stage discussions with PTSB and other strategic banking counterparties about...

Written Answers — Department of Finance: Customs and Excise (31 Mar 2021)

Paschal Donohoe: Following the withdrawal of the UK from the European Union, an import of a vehicle from Great Britain is treated as an import from a third country, i.e. a non-EU country. If a vehicle is imported from Great Britain into Ireland, the importer is required to complete a customs declaration and pay customs duty, if applicable, and VAT at 23% prior to presenting the vehicle for registration. Under...

Written Answers — Department of Finance: Insurance Costs (31 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 124 and 138 together. The Programme for Government prioritises the reform of the insurance sector with particular emphasis on motor, public, and employer liability insurance. As such, the Action Plan for Insurance Reform sets out 66 actions across several Government policy areas, including in my Department, to improve the availability of insurance and tackle...

Written Answers — Department of Finance: Banking Sector (31 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 or ATM networks, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis....

Written Answers — Department of Finance: Credit Register (31 Mar 2021)

Paschal Donohoe: A key focus of the Government and the Central Bank is to ensure lenders are acting in a way that protects the best interests of borrowers, and in line with relevant codes and regulations. In particular, in respect of mortgages which are secured on a primary residence, regulated entities are required to comply with the Code of Conduct on Mortgage Arrears and deal with all arrears (and...

Written Answers — Department of Finance: Credit Unions (31 Mar 2021)

Paschal Donohoe: The Central Bank have informed me that credit unions may participate in Death Benefit Insurance schemes whereby a payment, intended to assist with funeral expenses, is made following the death of a member. Central Bank credit union regulations do not place any specific requirements on credit unions that participate in Death Benefit Insurance schemes. The Death Benefit Insurance is provided by...

Written Answers — Department of Finance: Tax Reliefs (31 Mar 2021)

Paschal Donohoe: I am advised by Revenue that there are a number of tax reliefs available to individuals who are carers. Details of the main reliefs, including the related tax credits, are as follows: The Home Carer Tax credit is available to married couples or civil partners that are jointly assessed, where one spouse or civil partner stays at home to take care of a dependent person.Its current value is...

Written Answers — Department of Finance: Financial Services Sector (31 Mar 2021)

Paschal Donohoe: In January, the Government approved the latest Action Plan 2021 ‘Building on Resilience’ under the Ireland for Financestrategy. Minister of State, Sean Fleming TD, has devoted much of his time to overseeing of the Ireland for Financestrategy (which is one of the areas that he has a special responsibility) and its implementation via annual action plans. In this context, it is...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: I wish to advise the Deputy that: - The COVID-19 Credit Guarantee Scheme (CGS) was launched last September and is the biggest ever state-backed loan guarantee in Ireland. Its focus is to provide additional liquidity to businesses in a range of sectors. This has resulted in an increased diversification in loan products available to businesses and greater geographical reach for the...

Written Answers — Department of Finance: Primary Medical Certificates (31 Mar 2021)

Paschal Donohoe: I brought forward an amendment to the Finance Bill to provide for the existing medical criteria for the Disabled Drivers Scheme in primary legislation. Following approval of the Finance Act 2020, the HSE has been informed that medical assessments can recommence from 1st January 2021. However, in the context of the national effort to suppress and manage the impact of COVID, the ability to...

Written Answers — Department of Finance: Banking Sector (31 Mar 2021)

Paschal Donohoe: As the Deputy is aware, the State has shareholdings in certain banks, however, the framework agreements in place in respect of those institutions prohibit the State from being involved in day-to-day operational matters including the provision of services. As the Deputy may be aware, my Department published a paper in December 2019 by Indecon Consulting on an Evaluation of the Concept of...

Written Answers — Department of Finance: Value Added Tax (31 Mar 2021)

Paschal Donohoe: As the Deputy may be aware, the European Commission published a proposal in January 2018 in relation to VAT rates. The proposal as published provides significantly greater flexibility to all Member States to apply reduced rates. The current system (in Annex 3 of the Directive) operates a set list of goods and services to which a reduced rate may apply. The new proposal allows Member States to...

Written Answers — Department of Finance: Credit Unions (31 Mar 2021)

Paschal Donohoe: Following a review of the investment framework for credit unions in 2017, the Central Bank introduced amending investment and liquidity regulations for credit unions. Since 1 March 2018, credit unions have been permitted to invest in regulated investment vehicles where the underlying investments are investments in Tier 3 Approved Housing Bodies (AHBs) for the provision of social...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (31 Mar 2021)

Paschal Donohoe: 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 of the CRSS are set out in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as set out in the legislation, have been published on...

Written Answers — Department of Finance: Interest Rates (31 Mar 2021)

Paschal Donohoe: 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 board and management of the banks, which must be run on an...