Results 10,621-10,640 of 32,593 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Coverage (13 Oct 2020)

Paschal Donohoe: Let me say at the outset that I am very much aware of the problems faced by many businesses in relation to the availability and affordability of public liability insurance, including those in the tourism sector, such as walking and mountaineering guides. However, as this is a commercial matter, neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, and...

Written Answers — Department of Finance: Departmental Schemes (13 Oct 2020)

Paschal Donohoe: The Help to Buy incentive (HTB) is a scheme to assist first-time purchasers with a deposit they need to buy or build a new house or apartment. HTB will be in place until 31 December 2021. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. in the case of self-build...

Written Answers — Department of Finance: Wage Subsidy Scheme (13 Oct 2020)

Paschal Donohoe: The Employment Wage Subsidy (EWSS), which has been operating since 1 July has replaced the Temporary Wage Subsidy Scheme (TWSS) which expired on 31 August 2020. The EWSS will remain in place until March 2021, thereby allowing employers to rely on the continuation of support over a longer period of 8 months while also ensuring such support is sustainable and affordable. It should be noted...

Written Answers — Department of Finance: Grant Payments (13 Oct 2020)

Paschal Donohoe: Section 112B of the Taxes Consolidation Act 1997, usually allows one voucher per year up to the value of €500 to be given to an employee by his or her employer tax free, provided certain conditions are satisfied. Where an employer wishes to recognise efforts of frontline or other key staff working during the COVID-19 crisis, either by accelerating part of a reward (voucher) usually...

Written Answers — Department of Finance: Mortgage Lending (13 Oct 2020)

Paschal Donohoe: As the Deputy is aware as Minister for Finance I have no role in the commercial decisions made by the banks, including the nature and structure of any forbearance measures. This applies equally to the banks in which the State has a shareholding. EBS has provided me with the following statement: "The EBA Guidelines on legislative and non-legislative moratoria on loan repayments applied in the...

Written Answers — Department of Finance: Mortgage Lending (13 Oct 2020)

Paschal Donohoe: The Central Bank has advised that it expects all regulated firms to take a consumer-focused approach and to act in their customers’ best interests at all times, including during the COVID-19 pandemic. Lenders continue to process mortgage applications and have supports in place to assist customers impacted by COVID-19. If mortgage applicants have any queries or concerns about the...

Written Answers — Department of Finance: Cabinet Committees (13 Oct 2020)

Paschal Donohoe: I can assure the Deputy that insurance reform is a key policy priority for this Government and is strongly reflected in the Programme for Government (PfG). In this regard following approval by Government a sub-Group of the Cabinet Committee on Economic Recovery and Investment was formed and has already met. In relation to insurance, there are a number of areas that require reform and this...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 94 and 95 together. Over the course of the year, the Government has responded to the pandemic by putting in place measures to address its impact on people, on firms and on sectors. Amongst the largest measures are the Employment Wage Subsidy Scheme and the Pandemic Unemployment Payment. These measures will continue to apply if the country moves to a higher...

Written Answers — Department of Finance: Mortgage Schemes (13 Oct 2020)

Paschal Donohoe: When a consumer takes out a loan from a regulated lender it is subject to all relevant Irish and EU consumer protections. Most loan agreements include a clause that allows the loan to be sold to another firm. When a loan is sold, the relevant Irish and EU consumer protections continue to apply. All mortgages or loans which are sold or assigned to a new creditor will continue to be subject...

Written Answers — Department of Finance: Motor Insurance (13 Oct 2020)

Paschal Donohoe: At the outset, while I have an appreciation of the specific issue the Deputy raises, neither I, nor the Central Bank of Ireland, can direct the pricing of insurance products, as this is a commercial matter, nor can we compel any insurer operating in the Irish market to provide cover. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive) which...

Written Answers — Department of Finance: Wage Subsidy Scheme (13 Oct 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) ceased on 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. When operational, the TWSS supported more than 66,000 employers in respect of approximately 664,000 employees at a cost of almost €2.9 billion to the Exchequer. The Emergency Measures in the Public Interest (Covid 19) Act assigned...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Oct 2020)

Paschal Donohoe: The restart grant and restart grant plus are a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers. I am advised by Revenue that in the case of a sole trader who is within the charge to income tax, such a grant would be taken into account in computing amounts chargeable to income tax. The tax treatment of the grant...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Oct 2020)

Paschal Donohoe: The Stay and Spend scheme provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple, in respect of 2020 and 2021. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple. As the Deputy will be aware, the Stay and Spend scheme is just one...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (13 Oct 2020)

Paschal Donohoe: The design of the Employment Wage Subsidy Scheme (EWSS) reflects the changing environment around the COVID-19 pandemic which has shifted from crisis mode to one of living alongside the virus, in line with the recently announced Resilience and Recovery 2020-2021: Plan for Living with COVID-19. The Government’s focus has therefore shifted from an employee income support paid via...

Written Answers — Department of Finance: Value Added Tax (13 Oct 2020)

Paschal Donohoe: As per my response on 6 October 2020 I am advised by Revenue that under the terms of the Diesel Rebate Scheme (DRS), qualifying road transport operators submit their claims, via an online system, during the three months following when the transaction took place. Once the claims are received by Revenue, they are normally processed and paid within eight weeks following completion of the...

Written Answers — Department of Finance: Bank Charges (13 Oct 2020)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and the imposition of bank fees and charges are decisions to be made by the boards and management of individual banks which need to be run on an independent and commercial basis. You will be aware that, as Minister for Finance, I have no statutory role in relation to the charges applied by credit institutions. Under...

Written Answers — Department of Finance: Tax Reliefs (13 Oct 2020)

Paschal Donohoe: The 2020 Programme for Government: Our Shared Futurecontains several commitments related to working from home, including an examination of the “feasibility and merits of changing tax arrangements to encourage more people to work remotely”, the responsibility for which falls to my Department. There is also a commitment to the development of a ”national remote working...

Written Answers — Department of Finance: Value Added Tax (13 Oct 2020)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Wage Subsidy Scheme (13 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 108 and 109 together. The Temporary Wage Subsidy Scheme (TWSS) ceased on 31 August 2020 and was replaced by the Employment Wage Subsidy Scheme (EWSS) from 1 September 2020. When operational, the TWSS supported more than 66,000 employers in respect of approximately 664,000 employees at a cost of €2.9 billion to the Exchequer. The TWSS was...

Written Answers — Department of Finance: Help-To-Buy Scheme (13 Oct 2020)

Paschal Donohoe: With regard to actual housing completions this year, I am conscious that there is likely to be a significant shortfall in 2020 as compared with the targets which were envisaged in the Rebuilding Ireland Action Plan for Housing and Homelessness. It is important therefore that we continue to focus on the delivery of additional housing supply. The enhancement to the Help-to-Buy (HTB) Scheme...