Results 9,841-9,860 of 33,280 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (10 Mar 2021)

Paschal Donohoe: As the Deputy is aware and as set out in the Relationship Framework for PTSB, due to its systemic importance to the Irish financial system, the bank received significant support from the State in the financial crisis. This support led to the State becoming the majority shareholder in PTSB with the approval of the European Commission. This approval was subject to the Minister and the Bank...

Written Answers — Department of Finance: Banking Sector (10 Mar 2021)

Paschal Donohoe: As the Deputy is aware and as set out in the Relationship Framework for Bank of Ireland, due to its systemic importance to the Irish financial system, the bank received significant support from the State in the financial crisis. This support led to the State becoming a significant shareholder in Bank of Ireland with the approval of the European Commission. This approval was subject to...

Written Answers — Department of Finance: Banking Sector (10 Mar 2021)

Paschal Donohoe: As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned in one year and not allow relief for losses incurred in another. Loss relief works by...

Written Answers — Department of Finance: Banking Sector (10 Mar 2021)

Paschal Donohoe: As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned in one year and not allow relief for losses incurred in another. Loss relief works by...

Written Answers — Department of Finance: Tax Credits (10 Mar 2021)

Paschal Donohoe: The purpose of the Stay and Spend Tax Credit scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions on public health grounds. In order to claim the Stay and Spend Tax Credit, taxpayers are required to upload a copy of their receipt(s) for qualifying expenditure to the Revenue Receipts Tracker...

Written Answers — Department of Finance: Tax Reliefs (10 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: Tax Code (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 275, 280 and 307 together. The Deputy will be aware that from 1 January 2021, the UK is a 3rd country for the purposes of trade and movement of goods. This means that a range of customs formalities apply to goods moving to, from or through the United Kingdom, excluding Northern Ireland. Imports of goods from Great Britain must be declared to customs and are...

Written Answers — Department of Finance: Banking Sector Data (10 Mar 2021)

Paschal Donohoe: As the Deputy may be aware, banks are required to notify the Central Bank when they intend to close, merge or move a branch. The Central Bank has informed my officials that its focus regarding branch closures is to ensure that banks adhere to the relevant requirements in the Consumer Protection Code 2012 (the Code) and how banks communicate the closures to their customers. Banks must ensure...

Written Answers — Department of Finance: Tax Yield (10 Mar 2021)

Paschal Donohoe: The tapering out of tax credits on income above €110,000, at a rate of 3% per €1,500 of income, such that the taxpayer has no entitlement to credits at an income level of about €160,000, combined with the introduction of an additional USC rate of 3.25% on income in excess of €190,000, would yield an estimated €530m and €660m on a first and full year...

Written Answers — Department of Finance: Tobacco Smuggling (10 Mar 2021)

Paschal Donohoe: I am advised by Revenue that the number of persons successfully prosecuted for cigarette or tobacco smuggling in 2019, 2020 and to date in 2021 is set out in the table below. The number of persons successfully prosecuted for other cigarette or tobacco-related offences, including the sale and supply of illicit tobacco products is also shown. - Cigarette/tobacco smuggling...

Written Answers — Department of Finance: Euro Coins Production (10 Mar 2021)

Paschal Donohoe: The role of the Minister of Finance is to authorise the issuance of circulating and commemorative coins. The Central Bank of Ireland acts as an agent for the Minister in issuing all Irish coin, both circulating and commemorative. The Central Bank has responsibility for the design, production and issuance of euro coins. Under European guidelines, euro coins have a common obverse side and...

Written Answers — Department of Finance: Help-To-Buy Scheme (10 Mar 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive was introduced in 2017. The measure is currently scheduled to expire on 31 December 2021. HTB gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. An increase in the supply of new housing remains a priority aim of Government policy. The...

Written Answers — Department of Finance: Credit Unions (10 Mar 2021)

Paschal Donohoe: The Credit Union Act 1997 does not include any provision for credit union members to call an annual general meeting. Section 78(2) of the Credit Union Act 1997 provides that the annual general meeting of a credit union in respect of any financial year to 30 September shall be held in the October, November, December or January following the end of that financial year. Section 78(3)...

Written Answers — Department of Finance: Credit Unions (10 Mar 2021)

Paschal Donohoe: Section 78(2) of the Credit Union Act 1997 provides that the annual general meeting of a credit union in respect of any financial year to 30 September shall be held in the October, November, December or January following the end of that financial year. The Finance (Miscellaneous Provisions) Act 2020 provides that the annual general meeting of a credit union for the financial year ended...

Written Answers — Department of Finance: Wage Subsidy Scheme (10 Mar 2021)

Paschal Donohoe: The Deputy will be aware that Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the operation of the Employment Wage Subsidy Scheme (EWSS), which is an economy-wide enterprise support for eligible businesses in respect of eligible employees. It provides a flat-rate subsidy to qualifying employers based on the numbers of paid and eligible employees...

Written Answers — Department of Finance: Help-To-Buy Scheme (10 Mar 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive was introduced in 2017. The measure is scheduled to expire on 31 December 2021. Revenue provide monthly and annual statistics on the scheme (available at: ) The following table summarises approved claims for each year since the inception of the scheme until end 2020 (the latest date for which data are available). 2017 2018 2019 ...

Written Answers — Department of Finance: Departmental Internships (10 Mar 2021)

Paschal Donohoe: There are 17 bodies under the aegis of my Department, 8 of which facilitated student work experience or internships in 2019. The Central Bank provided 90 student placements for work experience and internships, with a total wage cost of €618,000. It estimates capacity for 78 such placements on an annual basis. In addition, the Central Bank also facilitates unpaid transition year...

Written Answers — Department of Finance: Banking Sector (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 287 and 308 together. 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 networks, are the sole responsibility of the board and management of the banks, which must...

Written Answers — Department of Finance: Wage Subsidy Scheme (10 Mar 2021)

Paschal Donohoe: I propose to take Questions Nos. 288 and 297 together. I am aware of the particular concerns and issues that arise for the aviation and tourism sectors arising from the Covid-19 pandemic. However, the reality is that our whole economy and labour market have been rapidly transformed by this unprecedented shock and nearly all sectors have been negatively impacted either directly or...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (10 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 industry, who were economically impacted by the Covid-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially...