Results 9,781-9,800 of 33,280 for speaker:Paschal Donohoe

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

Paschal Donohoe: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. Ireland has a progressive income tax system which is structured such that the more income you have, the more tax you pay. As a person’s income increases they move up through the various rates and bands and, as a result, while the levels of take home pay increase...

Written Answers — Department of Finance: Financial Services Regulation (24 Mar 2021)

Paschal Donohoe: Over the last number of weeks I have been consistent in setting out my views and those of Government regarding the expectation that we have in relation to the conduct of the financial services sector and especially senior people within those organisations that are in a position of trust. In the specific case referenced, the Regulator has taken action and made its views...

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

Paschal Donohoe: I am advised by Revenue that the health expenses claim for the person in question was processed on 22 February 2021 following the submission of her 2020 Income Tax Return.  A Statement of Liability for 2020 subsequently issued to the person on 23 February 2021 via the MyAccount service, and a refund of tax issued to her bank account on 25 February 2021. The refund was the total amount...

Written Answers — Department of Finance: Carer's Allowance (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 462 and 463 together. The Carers' Allowance is a means-tested payment made to individuals on low incomes who are looking after a person who needs support because of age, disability or illness. In order to receive the allowance, the individual must not be engaged in employment, self-employment, training or education courses outside the home for more than 18.5...

Written Answers — Department of Finance: Capital Expenditure Programme (24 Mar 2021)

Paschal Donohoe: I can advise the Deputy that there have been no capital projects in my Department which have required my sanction.  

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

Paschal Donohoe: The NatWest Group (NatWest) announced on Friday, 19 February last that it intends withdrawing from the banking sector in the Republic of Ireland and it will gradually wind down its Ulster Bank business. NatWest concluded that Ulster Bank would not be able to achieve an acceptable level of return for shareholders and have decided to begin a phased withdrawal over the coming years. It...

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

Paschal Donohoe: I wish to advise the Deputy that I do not have responsibility for this matter. However, I can confirm that:   - There has been over €630 million in lending approved to 5,260 businesses across State-backed loan guarantee schemes. - Take-up of these schemes has varied. There has been high demand for the Future Growth Loan Scheme (FGLS) and working with the European Investment...

Written Answers — Department of Finance: Pension Provisions (24 Mar 2021)

Paschal Donohoe: I am advised by Revenue that an individual can take a tax-free lump sum from their pension pot – typically 25% of the lump sum, up to a maximum tax free amount of €200,000 - but the balance of the pension pot is subject to tax at appropriate rates.  Pensions or payments from an Approved Retirement Fund (ARF) are taxed similarly to other incomes, in that an...

Written Answers — Department of Finance: Ministerial Meetings (24 Mar 2021)

Paschal Donohoe: The withdrawal of Ulster Bank from the market and the decision by Bank of Ireland to close 88 branches in the Republic of Ireland are regrettable, particularly for its customers and staff and is an unfavourable development for the Irish banking market. Decisions in this regard, including the management of branch networks, are the sole responsibility of the board and management of the...

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

Paschal Donohoe: I am advised by Revenue that the current tax warehousing schemes allow for the deferral of collection of certain tax liabilities relating to “Period 1”, the “Covid-19 restricted trading period”. The tax liabilities that may be deferred or “warehoused” are VAT, PAYE (Employer) liabilities, excess Temporary Wage Subsidy Scheme (TWSS) payments due to be...

Written Answers — Department of Finance: Bank Charges (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 am 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...

Written Answers — Department of Finance: Insurance Costs (24 Mar 2021)

Paschal Donohoe: As the Deputy is aware, neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products. This position is reinforced by the EU Solvency II Directive insurance framework. Consequently, I am not in a position to direct insurance companies as to their business activities, including in relation to how they price premiums. Notwithstanding the above,...

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

Paschal Donohoe: In responding to the Deputy's question, I would draw attention to the existing reliefs that are already available to property owners selling their home and to first-time buyers. Capital Gains Tax Capital gains tax (CGT) is chargeable on any gain arising on the disposal of an asset at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from...

Written Answers — Department of Finance: Departmental Transport (24 Mar 2021)

Paschal Donohoe: I wish to infrom the Deputy that my Department does not own or lease any vehicles, nor does it operate vehicles to conduct any Departmental duties. There are 17 bodies under the aegis of my Department, 3 of which own or operate vehicles. These 3 bodies are the Central Bank, the National Treasury Management Agency (NTMA) and the Office of the Revenue Commissioners. The Central Bank of Ireland...

Written Answers — Department of Finance: Insurance Costs (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 479 and 484 together. In relation to the questions raised by the Deputies regarding the cost of insurance and the Personal Injuries Guidelines, I would first note that addressing the cost of insurance is a key aim of the Government’s Action Plan for Insurance Reform. In this regard, I welcome the recent publication of the Personal Injuries...

Written Answers — Department of Finance: Credit Unions (24 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 480 to 482, inclusive, together. The Government welcomes the important work credit unions are doing to support communities throughout Ireland at this difficult time and recognises the key role that credit unions play in the delivery of financial services in local communities across Ireland. As part of the formation of the new...

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

Paschal Donohoe: I propose to take Questions Nos. 483 and 496 together. The Domicile Levy was introduced in the Finance Act 2010 to ensure that Irish-domiciled individuals who meet certain criteria make a contribution to the Exchequer, irrespective of where they are resident for tax purposes. The purpose of the levy is to ensure that individuals with substantial income and assets located in the State make...

Written Answers — Department of Finance: Defective Building Materials (24 Mar 2021)

Paschal Donohoe: I appreciate this is a very difficult issue for households which have been affected by defective concrete blocks.  I note my colleague the Minister for Housing, Local Government and Heritage, who has responsibility for policy and administration of the State scheme to provide financial assistance to those private households impacted by defective blocks, has met and...

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

Paschal Donohoe: Revenue is independent in the exercise of its functions and I have no plans to engage with Revenue as proposed in the Deputy's question. Payments made under the Temporary Wage Subsidy Scheme (TWSS) and the Pandemic Unemployment Payment (PUP) are regarded as income supports and share the characteristics of income. As such the TWSS is liable to both income tax and Universal Social...

Written Answers — Department of Finance: Financial Services Regulation (24 Mar 2021)

Paschal Donohoe: I am aware of the matter that the Deputy has raised, which my officials are monitoring. The Central Bank of Ireland is the independent regulator of financial services providers and financial markets in Ireland. I am informed by the Central Bank that it cannot comment on investigations, including confirming whether an issue or firm is the subject of an investigation....