Results 9,761-9,780 of 33,280 for speaker:Paschal Donohoe

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

Paschal Donohoe: I propose to take Questions Nos. 433 and 434 together. First of all, it is important to highlight that, as Minister for Finance, I have no direct role to play in the strategic decisions made by any corporate entity, including those relating to acquisitions and disposals of entire businesses or individual business units. Decisions in such matters are the sole responsibility of the boards and...

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

Paschal Donohoe: I propose to take Questions Nos. 435 and 436 together. As I am sure the Deputy knows, the Strategic Banking Corporation of Ireland (SBCI) is, subject to the Strategic Banking Corporation of Ireland Act 2014, independent in the performance of its functions.  This includes any due diligence procedures. SBCI operates a number of loan guarantee schemes on behalf of the Department of...

Written Answers — Department of Finance: Tax Code (24 Mar 2021)

Paschal Donohoe: At the outset, the Deputy should note that it is not possible to accurately estimate changes in behaviour arising from  for instance a change in the rate of exit tax applicable to investment products. These investments tend to be long term investments and any investment decisions in relation to them are driven by multiple factors and not solely by taxation. The normal tax treatment...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (24 Mar 2021)

Paschal Donohoe: The Central Bank of Ireland Code of Conduct on Mortgage Arrears 2013 (CCMA) was introduced to ensure that regulated entities have fair and transparent processes in place for dealing with borrowers in or facing arrears on a mortgage which is secured on a primary residence, and it is part of the national policy framework of supports and protections available to assist borrowers in...

Written Answers — Department of Finance: Value Added Tax (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 440, 453 and 476 together. In recognition of the unprecedented challenges facing the Hospitality and Tourism sector, I provided for a reduction in the VAT rate to supplies of certain goods and services which primarily relate to the hospitality and tourism sector in Budget 2021. The rate was reduced from 13.5% to 9% from 1 November 2020 to 31 December...

Written Answers — Department of Finance: Wage Subsidy Scheme (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 441, 469, 491, 498 and 501 together. I am aware of concerns that have been raised regarding the pace of recovery for the live events 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....

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

Paschal Donohoe: As the Deputy will be aware, on 18 March 2020, the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers, including those in the tourism and hospitality sectors, who were economically impacted by the Covid-19 crisis.  The measures included flexible loan repayment arrangements where needed, including loan...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 Mar 2021)

Paschal Donohoe: 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 review of the scheme, to include a broader review of mobility supports for persons with disabilities, will be conducted...

Written Answers — Department of Finance: Property Tax (24 Mar 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 that best suit their circumstances and avoid unnecessary hardship, and it has assured me that this will continue to be the case. Any property owners experiencing financial...

Written Answers — Department of Finance: Legislative Process (24 Mar 2021)

Paschal Donohoe: (1) Details of the process through which the Department of Finance drafts and produces legislation The Department drafts and produces legislation in accordance with the procedures outlined in the Cabinet Handbook.In particular, Chapter 4 sets out the procedures to be followed in respect of proposals for new legislation. In broad terms, the Department develops policy proposals subject, where...

Written Answers — Department of Finance: Value Added Tax (24 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the amounts of Value-Added Tax (VAT) claimed by persons who are not registered for VAT across a range of schemes is published each year in the Cost of Tax Expenditures Table, which is available at link: . The data for 2020 will be published in the coming months.  In addition to the above, farmers who are not registered for VAT may reclaim VAT paid in relation...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman (24 Mar 2021)

Paschal Donohoe: The function of Financial Services and Pensions Ombudsman (FSPO) is to investigate complaints made against financial service providers and pension providers in an appropriate manner, proportionate to the nature of the complaint, by informal means, mediation or formal investigation including Oral Hearings if required. To be eligible to make a complaint to the FSPO, the person making the...

Written Answers — Department of Finance: Consumer Protection (24 Mar 2021)

Paschal Donohoe: Since the introduction of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015, credit servicing firms have been subject to the provisions of Irish financial services law that apply to regulated financial services providers, including but not limited to: - The Consumer Protection Code, - the Code of Conduct for Mortgage Arrears, - the Central Bank (Supervision...

Written Answers — Department of Finance: Consumer Protection (24 Mar 2021)

Paschal Donohoe: The Deputy will be aware that the overall regulatory framework provides a significant number of protections and supports for borrowers in or facing mortgage arrears, in recognition of the distress and, in the case of mortgages secured on a borrower’s primary residence, the vulnerability of borrowers at risk of losing their home. Most loan agreements include a clause that allows the...

Written Answers — Department of Finance: Cycle to Work Scheme (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 450 and 451 together. I am advised by Revenue that section 118(5G) of the Taxes Consolidation Act 1997 (TCA 1997) provides for the Cycle to Work scheme. This scheme provides an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and associated safety equipment for an employee. Under section 118B TCA 1997 an employer and employee may also...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 Mar 2021)

Paschal Donohoe: As outlined in my answer to the Deputy’s Parliamentary Question No. 389 of 3 November 2020, the Drivers and Passengers with Disabilities Scheme provides for the remission or repayment of Vehicle Registration Tax (VRT) up to maximum limits. Section 135C(3)(b) of the Finance Act 1992 further provides that a Category A series production electric vehicle can avail of relief of up to...

Written Answers — Department of Finance: Tax Reliefs (24 Mar 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: Banking Sector (24 Mar 2021)

Paschal Donohoe: 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 Department of Finance and the Central Bank of Ireland, participating in the formulation of proposals and recommendations that will then be submitted to...

Written Answers — Department of Finance: Oireachtas Proceedings (24 Mar 2021)

Paschal Donohoe: As the Deputy will be aware material prepared for Central Bank officials in preparation for their appearance at Oireachtas Committees or any other events are an internal matter for the Bank. The Central Bank is independent in the performance of its functions and this independence is enshrined in the Treaties of the European Union and in the Statute of the European System of Central Banks. The...

Written Answers — Department of Finance: Mortgage to Rent Scheme (24 Mar 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'm 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...