Results 9,561-9,580 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Interest Rates (27 Jan 2021)

Paschal Donohoe: I am aware that the general level of lending interest rates in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that certain mortgage rates have been falling in Ireland. For example, the interest rates on new fixed rate mortgages (excluding renegotiations) have fallen from 4.11% in December 2014 to 2.67% in...

Written Answers — Department of Finance: Vehicle Registration Tax (27 Jan 2021)

Paschal Donohoe: I am advised that the National Car Testing Service (NCTS), which manages the Vehicle Registration Tax (VRT) process on behalf of Revenue, submitted incorrect weights (to Revenue) for the vehicle in question when it was being registered for VRT purposes. Revenue has confirmed to me that the matter has now been rectified and the correct weights have been notified to the relevant motor-tax...

Written Answers — Department of Finance: Property Tax (27 Jan 2021)

Paschal Donohoe: I am advised by Revenue that it is precluded, by virtue of taxpayer confidentiality obligations set out in section 851A of the Taxes Consolidation Act 1997, from providing the specific information sought by the Deputy in relation to Local Property Tax (LPT) payments made by Local Authorities on social housing stock. Revenue publishes a comprehensive range of quarterly and annual statistics...

Written Answers — Department of Finance: Wage Subsidy Scheme (27 Jan 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. The scheme operated until 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) on 1 September 2020. To ensure payments were made to employees as...

Written Answers — Department of Finance: Wage Subsidy Scheme (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 199 and 237 together. As recently advised to the Deputy in a previous reply to a Parliamentary Question, Revenue has completed compliance checks in respect of more than 92% of employers who participated in the Temporary Wage Subsidy Scheme (TWSS). To date, over €3m of subsidy payments has been recouped in aggregate from some 620 employers, and...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 201, 207 and 218 together. I am aware of concerns that have been raised regarding the pace of recovery for the aviation sector, and that it has been suggested that the level of support be increased and/or that the application of some of the new State supports should be delineated on the basis of explicit sectoral qualification criteria. However, the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 202, 205, 209, 215, 220 and 227 together. 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. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities,...

Written Answers — Department of Finance: Value Added Tax (27 Jan 2021)

Paschal Donohoe: I have no plans to remove VAT on beekeeping equipment and supplies. Irish VAT law must comply with European VAT law which does not allow for a zero rate to be charged on goods outside of those specified in the VAT Directive or falling under an existing derogation.

Written Answers — Department of Finance: Living City Initiative (27 Jan 2021)

Paschal Donohoe: The original Living over the Shop (LOTS) scheme was part of a suite of capital allowance schemes which have now terminated and, in relation to this particular scheme, relief is not available for any capital expenditure incurred after 31 July 2008. The incentive was introduced in 2001 in the five city boroughs of Cork, Dublin, Galway, Limerick and Waterford. It provided relief of 100 per cent...

Written Answers — Department of Finance: Banking Sector Data (27 Jan 2021)

Paschal Donohoe: The Financial Institutions ("Bank") Levy was introduced for the three-year period 2014 to 2016 in Finance (No.2) Act 2013 with the purpose of enabling the banking sector to contribute to economic recovery. The annual yield of this levy is approximately €150 million. In Finance Act 2016 my predecessor, Minister Michael Noonan, extended the bank levy to 2021, with a rolling series...

Written Answers — Department of Finance: Corporation Tax (27 Jan 2021)

Paschal Donohoe: As the Deputy may be aware, on 14 January I published an Update to Ireland’s 2018 Corporation Tax Roadmap. The Update demonstrates that Ireland has a proven track record of taking significant actions to prevent aggressive tax planning. Appendix 1 of the Update outlines 20 corporation tax reforms that Ireland has implemented since 2013, showing an extensive and continuing programme of...

Written Answers — Department of Finance: Tax Avoidance (27 Jan 2021)

Paschal Donohoe: Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (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 layer of taxation at corporate and shareholder level which would otherwise apply....

Written Answers — Department of Finance: Tax Avoidance (27 Jan 2021)

Paschal Donohoe: As part of Finance Act 2019, I introduced Anti-Hybrid rules in accordance with our obligations under the EU Anti-Tax Avoidance Directives or “ATAD”. The ATAD Anti-Hybrid rules have applied to all corporate taxpayers with effect from 1 January 2020. They are intended to prevent arrangements that exploit differences in the tax treatment of an instrument or entity under the tax...

Written Answers — Department of Finance: Local Authority Funding (27 Jan 2021)

Paschal Donohoe: I can advise the Deputy that my Department does not have a direct role in funding local authorities.

Written Answers — Department of Finance: Value Added Tax (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 216, 217 and 233 together. I am advised by Revenue that under the Protocol on Ireland and Northern Ireland, Northern Ireland will continue to apply and adhere to EU rules in relation to trade in goods with the result that there are no customs formalities, including customs declarations or payment of tariffs, on trade between Ireland and Northern Ireland. In...

Written Answers — Department of Finance: Vehicle Registration Tax (27 Jan 2021)

Paschal Donohoe: Section 130 of the Finance Act 1992 (as amended by Section 102 of the Finance Act 2010) introduced, from 1 January 2011, a revised classification system for the assessment of VRT which reflects the categories used for classification of vehicles at European level under various EC Directives. Passenger Vehicles (EU Category M) and Commercial Vehicles (EU Category N) are classified based on the...

Written Answers — Department of Finance: Value Added Tax (27 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 222, 230 and 234 together. I do not plan on extending the temporary reduction from 23% to 21% in the standard rate of VAT beyond the end of February. In terms of estimating the cost of such a measure, Revenue provides a ‘Ready Reckoner’ on its website at link; . that facilitates the estimation of the yield or cost of potential changes to the...

Written Answers — Department of Finance: National Debt (27 Jan 2021)

Paschal Donohoe: The tables below presents principal receipts and payments figures in respect of the National Debt for the years 2000 to 2019, as well as provisional, unaudited figures for 2020. The tables also present the net borrowing / repayment position for each of those years. Both the receipts and payments figures represent the gross value of borrowing activity, including the rollover of debt and...

Written Answers — Department of Finance: Tax Code (27 Jan 2021)

Paschal Donohoe: I am advised by Revenue that the use of land for the breeding of racehorses, hunters etc., on a commercial basis, is regarded as a farming activity for tax purposes with any net profits liable to income tax or corporation tax, as the case may be. There is no specific income tax relief available for racehorses in training. However, in certain circumstances horse racing can be treated as a...

Written Answers — Department of Finance: Natural Heritage Areas (27 Jan 2021)

Paschal Donohoe: The Deputy will be aware that I, as Minister for Finance, have no role in respect of NAMA’s commercial operations or transactions. In the case of the land referenced, I am advised that NAMA has never held an interest in this specific area of Inchydoney and so cannot advise on the matter raised by the Deputy. The Deputy is advised that NAMA has a dedicated email address for queries...