Results 9,881-9,900 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Dec 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS), which is provided for in section 28 of the Emergency Measures in the Public Interest (COVID-19) Act 2020, operated from 26 March 2020 to 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. The scheme was introduced as an emergency measure to provide financial support to businesses that were severely...

Written Answers — Department of Finance: Banking Sector (1 Dec 2020)

Paschal Donohoe: As I outlined to the Deputy on the 3rdNovember, I am aware of the 'Save our Ulster Bank' campaign and I share the concerns outlined in the correspondence. As the Deputy will be aware, I met with representatives of Ulster Bank on the 21 of October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. In particular, I...

Written Answers — Department of Finance: Motor Insurance (1 Dec 2020)

Paschal Donohoe: At the outset it is important to note that neither I, as Minister for Finance, nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products, as this is a commercial matter. This position is reinforced by the EU framework for insurance (the Solvency II Directive) which expressly prohibits Member States from doing so. Consequently, I am not in a position to...

Written Answers — Department of Finance: EU Regulations (1 Dec 2020)

Paschal Donohoe: Crowdfunding is a way to raise funds for a specific cause or project by asking a large number of people to provide money, usually in small amounts, and usually during a relatively short period of time, such as a few months. It can be used by SMEs as an alternative way to finance their business and also by ordinary people and charities to raise money for causes, where the money is donated....

Written Answers — Department of Finance: EU Regulations (1 Dec 2020)

Paschal Donohoe: EU Regulation 2019/2088 on sustainability-related disclosures in the financial sector (the “Sustainable Finance Disclosures Regulation” or “SFDR”) came into force in December 2019. It was subsequently amended by the Regulation on the establishment of a framework to facilitate sustainable investment (the “EU Taxonomy Regulation”). The Disclosures...

Written Answers — Department of Finance: National Asset Management Agency (1 Dec 2020)

Paschal Donohoe: I am advised by NAMA that there is a comprehensive process ongoing in order to select an investment partner with the requisite resources, skill and experience to commercially develop the former Glass Bottle site at Poolbeg West SDZ site. This open market process commenced in July 2019 following substantial due diligence by NAMA into the appropriate strategy to enable the commercial...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Dec 2020)

Paschal Donohoe: The details of the Covid Restrictions Support Scheme (CRSS) are set out in the Finance Bill 2020 and guidelines on the operation of the scheme, including the eligibility criteria for the scheme, are available on the Revenue website at: . The CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat...

Written Answers — Department of Finance: Banking Sector (1 Dec 2020)

Paschal Donohoe: The Basel Committee on Banking Supervision (BCBS) at the Bank for International Settlements (BIS) is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (1 Dec 2020)

Paschal Donohoe: The Covid Restrictions Support Scheme (CRSS) was announced in the Budget on 13 October 2020. The details are set out in Finance Bill 2020 and guidelines on the operation of the scheme, including the eligibility criteria, are available on the Revenue website: . Finance Bill 2020, as amended at the Committee Stage, provides for an appeal mechanism for taxpayers in circumstances where a...

Written Answers — Department of Finance: Bank Charges (1 Dec 2020)

Paschal Donohoe: I wish to highlight that as Minister for Finance, I have no role to play in commercial decisions made by any bank, including product pricing and fee structures. This applies equally to the banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks which must be run on an independent and commercial basis. The...

Written Answers — Department of Finance: Tax Code (1 Dec 2020)

Paschal Donohoe: My officials and I are fully aware of the risks associated with this level of concentration and volatility and will continue to monitor the situation closely so that the risks of over-reliance on potentially cyclical or over-concentrated receipts under specific tax heads can be understood and mitigated. The actions that have been taken to mitigate these risks allowed scope for the Government...

Written Answers — Department of Finance: National Debt (1 Dec 2020)

Paschal Donohoe: I propose to take Questions Nos. 227 and 228 together. National Debt is the indebtedness of the Exchequer after netting off Exchequer cash balances and other financial assets such as Housing Finance Agency Guaranteed Notes. The National Debt is managed by the National Treasury Management Agency (NTMA). The NTMA’s Annual Report & Accounts 2019 (available at ) provides further...

Written Answers — Department of Finance: Value Added Tax (1 Dec 2020)

Paschal Donohoe: Candles that are white (including off-white and cream) and cylindrical are zero rated for VAT purposes. Other candles, such as those that are decorated, spiralled, tapered or perfumed, are liable to VAT at the standard rate. I am informed by Revenue that VAT returns do not require traders to separately identify specific product or service types. Therefore, there is no information...

Written Answers — Department of Finance: Departmental Contracts (1 Dec 2020)

Paschal Donohoe: My Department has included a table providing a schedule of all consultancy firms, accountancy firms, legal firms, project management firms and IT firms engaged to carry out work on its behalf in 2018, 2019 and to date in 2020 including a summary of the work they were engaged to do and the full costs of the engagements; if disputes over costs ensued; if they were resolved with or without...

Written Answers — Department of Finance: Banking Sector (1 Dec 2020)

Paschal Donohoe: I propose to take Questions Nos. 231 to 233, inclusive, together. As the Deputy will be aware, I met with representatives of Ulster Bank on the 21 of October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. News of the review is, of course, unsettling for all stakeholders, especially the staff and...

Written Answers — Department of Finance: Mortgage Data (1 Dec 2020)

Paschal Donohoe: Receivership is one of the remedies available to creditors in the case of a default on a credit contract. A receiver may be appointed under the terms of a private contract itself, or by a court or under certain statutory provisions such as the Companies Acts or the Land and Conveyancing Law Reform Acts. Under those statutory provisions and also under more general contract law, there are...

Written Answers — Department of Finance: Help-To-Buy Scheme (1 Dec 2020)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive 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. Section 477C Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: Credit Unions (1 Dec 2020)

Paschal Donohoe: The Central Bank has advised me that it cannot comment on individual credit union cases. However, the Central Bank has informed me that credit unions have experienced savings inflows over recent years, which have outpaced loan demand from their members. The savings which a credit union does not lend to its members must be invested while ensuring that such investments do not result in undue...

Written Answers — Department of Finance: Tax Code (1 Dec 2020)

Paschal Donohoe: This matter concerns a benefit-in-kind (BIK) charge arising to an employee in respect of an employer provided car. In this case the employee incurred reduced business mileage during 2020 due to the impact of COVID-19 and may therefore have a higher tax liability than anticipated as a result of reduced business travel. The options available to such a taxpayer together with the applicable tax...

Ceisteanna Eile - Other Questions: Credit Availability (26 Nov 2020)

Paschal Donohoe: The Government will be bringing forward proposals in this regard. These will be effective and will deal with issues relating to the legality of moneylending and the interest rates charged. I represent and engage with constituents who are dealing with the matters to which the Deputy has referred. The Government is implementing a significant number of policies to protect those families as we...