Results 10,661-10,680 of 32,593 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (7 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 64 and 66 together. The 2020 Programme for Government: Our Shared Future contains 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...

Written Answers — Department of Finance: Help-To-Buy Scheme (7 Oct 2020)

Paschal Donohoe: The Help To Buy (HTB) incentive, announced in Budget 2017 is designed to assist first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. 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. HTB is...

Written Answers — Department of Finance: Budget Submissions (7 Oct 2020)

Paschal Donohoe: I can confirm that I received the pre-Budget submission from the organisation concerned. It was acknowledged by my officials who said that the contents would be considered in the context of the forthcoming Budget. However, as the Deputy may be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Oct 2020)

Paschal Donohoe: The existing cost estimate for the Employment Wage Subsidy Scheme (EWSS) is an additional €2.25 billion. This is comprised of €1.35bn until the end of 2020 and €0.9bn in 2021. These costs are on the basis that the EWSS will support around 350,000 jobs into the beginning of 2021. Revenue have estimated that 360,000 workers were supported by the Temporary Wage Subsidy...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 69 and 70 together. The Employment Wage Subsidy Scheme (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...

Written Answers — Department of Finance: Tax Code (7 Oct 2020)

Paschal Donohoe: As a general rule, all social welfare payments are subject to taxation, unless specifically exempted. These exemptions in general may apply to means tested-payments. As I have previously advised, the position is that payments made under the Pandemic Unemployment Payment (PUP) Scheme are an income support and share the characteristics of income. Other income earners in receipt of...

Written Answers — Department of Finance: Universal Social Charge (7 Oct 2020)

Paschal Donohoe: I am advised by Revenue that the estimated first and full year cost to the Exchequer of exempting all persons earning below €90,000 from the Universal Social Charge (USC) is €1.6 billion and €1.8 billion, respectively. These projections have been generated by reference to estimated 2021 incomes, calculated on the basis of actual data for the year 2018, the latest...

Written Answers — Department of Finance: Help-To-Buy Scheme (6 Oct 2020)

Paschal Donohoe: The Help To Buy (HTB) incentive, announced in Budget 2017 is designed to assist first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. 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. HTB is...

Written Answers — Department of Finance: Vehicle Registration Tax (6 Oct 2020)

Paschal Donohoe: I am advised by Revenue that the issue to which the Deputy is referring has been rectified and the business in question has received the outstanding Vehicle Registration Tax (VRT) quotations. Revenue has also confirmed that the delays in question occurred due to increased demand for motor homes and camper van registration requests. Revenue has committed additional resources to the...

Written Answers — Department of Finance: House Prices (6 Oct 2020)

Paschal Donohoe: The issue of the Help-to-Buy scheme causing house prices to rise was examined by Indecon Economic Consultants in a formal cost benefit analysis of the scheme that was published in October 2018. The analysis concluded that, the primary driver of house prices remained the continued misalignment between demand and supply rather than the Help-to-Buy Scheme. It is important that we continue to...

Written Answers — Department of Finance: Primary Medical Certificates (6 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 250 to 252, inclusive, 262, 263, 269 to 271, inclusive, and 277 to 281, inclusive, together. The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The cost of the scheme in 2019, excluding motor tax, was...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (6 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. The purpose of the Stay and Spend scheme is to incentivise taxpayers to...

Written Answers — Department of Finance: Fuel Rebate Scheme (6 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: Insurance Industry (6 Oct 2020)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: Insurance Industry (6 Oct 2020)

Paschal Donohoe: The Deputy will be aware that differential, or dual, pricing is the practice of quoting two different prices to different customers for the same product or service, even where those customers carry the same risk profile and cost of service. Late last year, the Central Bank of Ireland (CBI) announced that it would carry out a study into dual pricing in the Irish market. Separately, the Deputy...

Written Answers — Department of Finance: Tax Credits (6 Oct 2020)

Paschal Donohoe: Revenue conducted a comprehensive review of the administratively-based Flat Rate Expenses (FRE) regime in 2018 and 2019. Revenue has advised me that the purpose of the FRE review, which involved engagement with relevant representative bodies, was to ensure that the expenses granted to each employment category remain justified and appropriate to modern day employments and work practices....

Written Answers — Department of Finance: Tax Credits (6 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 258 and 282 together. 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...

Written Answers — Department of Finance: Tax Credits (6 Oct 2020)

Paschal Donohoe: I propose to take Questions Nos. 259 to 261, inclusive, together. Consistent with the Programme for Government: Our Shared Future, it is not the intention to increase the value of income tax credits or bands in Budget 2021. However, the Deputy has raised three separate but related issues regarding important measures in the tax code which support caring for people in vulnerable...

Written Answers — Department of Finance: Departmental Correspondence (6 Oct 2020)

Paschal Donohoe: Please see below a submission received from the Irish Association of Investment Managers (IAIM) dated 31 August 2018 in response to a public consultation related to the development of the strategy for the international financial services sector to 2025, now known as 'Ireland for Finance'. The remaining correspondence requested by the Deputy is not readily available. I will endeavour for the...

Written Answers — Department of Finance: Tax Collection (6 Oct 2020)

Paschal Donohoe: I am advised by Revenue that since the introduction of the pay and file system, self-assessed income taxpayers, including those whose self-assessed liabilities arise from rental income, have been required to pay annually both preliminary tax for the current year and any balance of tax owing for the previous year. The payment is due by 31 October in a year, or later if paying online via the...