Results 9,661-9,680 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Rebates (14 Jan 2021)

Paschal Donohoe: Where e-workers incur certain extra expenditure in the performance of their duties of employment remotely or from home, such as additional heating and electricity costs, there is a Revenue administrative practice in place that allows an employer to make payments up to €3.20 per day to such employees, subject to certain conditions, without deducting PAYE, PRSI, or USC. Revenue have...

Written Answers — Department of Finance: Brexit Issues (14 Jan 2021)

Paschal Donohoe: I am satisfied that the Government’s response to Brexit has been well-managed.  We have invested significantly in new infrastructure, systems and staff.  We have provided a range of supports to assist businesses and we have engaged intensively with stakeholders. My Department has been participating in whole of Government preparations for Brexit since before the UK referendum...

Written Answers — Department of Finance: Brexit Issues (14 Jan 2021)

Paschal Donohoe: My Department has been participating in whole of Government preparations for Brexit since before the UK referendum in 2016 and, in line with the Government’s overall approach, this work intensified during 2020 ahead of the end of the transition period. My Department has been working closely with the Central Bank of Ireland and the National Treasury Management Agency (NTMA), through...

Written Answers — Department of Finance: Economic Competitiveness (14 Jan 2021)

Paschal Donohoe: As the interplay between the Covid-19 and Brexit shocks has implications for the economic outlook, my Department, along with the ESRI, conducted an analysis of the sectorial overlap between the two shocks. The analysis found that the sectors most exposed to both the Covid-19 and ‘disorderly’ Brexit shocks appear to be distinct and relatively unconnected. While the analysis was...

Written Answers — Department of Finance: Economic Policy (14 Jan 2021)

Paschal Donohoe: At the time of Budget 2021 in October, my Department forecast GDP growth of about 1 ¾ per cent for this year. These projections were based on the assumptions that a vaccine for Covid-19 would not be widely available before the end of this year and that bilateral trade between Ireland and the UK would take place on WTO terms from January. However, the public health and economic...

Written Answers — Department of Finance: Banking Sector (14 Jan 2021)

Paschal Donohoe: I appreciate the stress and uncertainty that many borrowers are facing, and that they will continue to need assistance and support from their lenders. It is the clear expectation of both the Central Bank and I that lenders engage effectively and sympathetically with distressed borrowers – in line with the Code of Conduct on Mortgage Arrears, the Consumer Protection Code and...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 71, 72 and 77 together. 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...

Written Answers — Department of Finance: House Prices (14 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 73 and 74 together. The Central Bank of Ireland, as part of its independent mandate to preserve and protect financial stability in Ireland, has statutory responsibility for the regulation of mortgage lending by banks and other regulated entities. In line with this mandate, the Central Bank introduced macroprudential measures for residential mortgage...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 75 and 76 together. I would draw attention to the comprehensive package of business and employer supports that have been made available since the July Stimulus Plan and Budget 2021, including the Covid Restriction Support Scheme (CRSS), the Credit Guarantee Scheme, the SBCI Working Capital Scheme, Sustaining Enterprise Fund, and the Covid-19 Business Loans...

Written Answers — Department of Finance: Consultancy Contracts (14 Jan 2021)

Paschal Donohoe: I wish to advise the Deputy of the following details in response to his question. The Department of Finance/ESRI Joint Research Programme is funded by my Department and the Revenue Commissioners and involves ongoing project collaboration across all three parties in the policy areas of banking, taxation and the economy. Now into its seventh year, the project scope of the programme to...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Jan 2021)

Paschal Donohoe: The Covid Restrictions Support Scheme (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, the profits from which are chargeable...

Written Answers — Department of Finance: Insurance Industry (13 Jan 2021)

Paschal Donohoe: As the Deputy will be aware, the Government's Action Plan for Insurance Reform, launched last month, sets out 66 actions to bring down costs for consumers and business; introduce more competition into the market; prevent fraud and reduce the burden that insurance costs can have on business, community and voluntary organisations. The implementation of the Action Plan will be overseen by the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 203, 206, 208 to 210, inclusive, 222, 229 and 236 together. The Covid Restrictions Support Scheme (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...

Written Answers — Department of Finance: Tax Credits (13 Jan 2021)

Paschal Donohoe: As the Deputy will appreciate, the introduction of any new tax expenditure measures would arise in the context of the Budget and Finance Bill process. Furthermore, I must always be mindful of the public finances and the many demands on the Exchequer. Tax reliefs, no matter how worthwhile in themselves, lead to a narrowing of the tax base. Proposals for tax expenditure measures should be...

Written Answers — Department of Finance: Living City Initiative (13 Jan 2021)

Paschal Donohoe: The Living City Initiative (LCI) was provided for in Finance Act 2013 and commenced on 5th May 2015. In my Budget 2020 speech, I announced that the LCI would be extended from 5 May 2020 to 31 December 2022. It is a tax incentive aimed at the regeneration of the historic inner cities of Dublin, Cork, Galway, Kilkenny, Limerick and Waterford. The scheme provides income or corporation tax...

Written Answers — Department of Finance: Tax Reliefs (13 Jan 2021)

Paschal Donohoe: The rationale behind income tax relief for health expenses is broadly intended to provide assistance for those expenses of a significant or exceptional nature. Expenses for treatment of a routine nature or minor nature are therefore typically excluded. An example of this is that routine dental treatment does not attract the relief, though orthodontic treatment would. Consistent...

Written Answers — Department of Finance: National Asset Management Agency (13 Jan 2021)

Paschal Donohoe: As the Deputy will be aware, NAMA does not typically own or sell properties, rather NAMA owns loans for which the properties act as security. Secured properties remain in the ownership and control of their registered owners, or appointed receivers where applicable. These parties also manage the sales process. As regards the property referenced by the Deputy, I am advised that the property...

Written Answers — Department of Finance: Value Added Tax (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 212 and 231 together. I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply...

Written Answers — Department of Finance: Departmental Contracts (13 Jan 2021)

Paschal Donohoe: My Department has not awarded any contract to ‘Competence Assurance Solutions Ltd, trading as CAS’ in the 5 year time frame from 1 January 2016 to 31 December 2020. In relation to the seventeen Bodies under the aegis of my Department (listed below), I am informed that none of these bodies have awarded a contract to this company in the time frame concerned. Comptroller and...

Written Answers — Department of Finance: Vehicle Registration Tax (13 Jan 2021)

Paschal Donohoe: I propose to take Questions Nos. 214 to 216, inclusive, together. I am advised by Revenue that because of the interruptions to the operation of National Car Testing (NCT) centres and the continuing need to limit the number of customers attending the centres due to COVID 19 restrictions, there are delays in getting pre-registration inspection appointments.  Revenue is aware that some...