Results 10,781-10,800 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Currency Circulation (29 Sep 2020)

Paschal Donohoe: The Deputy will be aware that the use of card payments, particularly contactless payments, has been encouraged in order to support public health policy following the outbreak of Covid-19 this year. There has been a notable increase in the use of electronic payments during the Covid-19 pandemic. Figures released by the Banking and Payments Federation of Ireland show that daily contactless...

Written Answers — Department of Finance: Help-To-Buy Scheme (29 Sep 2020)

Paschal Donohoe: The Help to Buy incentive (HTB) 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 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 was extended to the end of 2021 in Finance Act 2019. The...

Written Answers — Department of Finance: Bank Charges (29 Sep 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 structure and level of pricing for their various product offerings. 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...

Written Answers — Department of Finance: Tax Code (29 Sep 2020)

Paschal Donohoe: There are a number of conditions which a company must meet in order to be regarded as a qualifying company for the purposes of section 110 of the Taxes Consolidation Act 1997 (“TCA 1997”). One of those conditions is that the company notifies Revenue of their intention to be a qualifying company by completing a Form S.110 no later than 8 weeks from the date the company...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 260 and 286 together. The Temporary Wage Subsidy Scheme (TWSS) operated from 26 March 2020 to 31 August 2020 and supported over 66,000 employers in respect of almost 664,000 employees that were negatively impacted by the necessary Covid-19 related restrictions, at a cost to the Exchequer of over €2.8 billion. The Employment Wage Subsidy Scheme...

Written Answers — Department of Finance: Brexit Preparations (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that in 2020 to date there have been 4,693 registrations for customs and that since the introduction of the EORI (Economic Operators Registration Identification) number in 2009, 68,856 businesses have registered for customs with Revenue.  93% of the import trade with the UK in 2019 was carried out by businesses who now have an EORI number, with 97% of the 2019...

Written Answers — Department of Finance: Insurance Costs (29 Sep 2020)

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

Written Answers — Department of Finance: Primary Medical Certificates (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 264 and 266 together. Primary Medical Certificate (PMC) assessments are undertaken by Senior Area Medical Officers of the HSE and, in relation to appeals, by the Disabled Drivers Medical Board of Appeal. I  have requested that these assessments temporarily cease pending consideration of, and a policy and/or legislative response to, a recent...

Written Answers — Department of Finance: Property Tax (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that residential properties built after the current valuation date (1 May 2013) remain outside the charge to Local Property Tax (LPT). As the properties are not liable to LPT, there is no obligation on owners to register them for the tax or complete the relevant returns. As such, the LPT Register does not contain valuation details in respect of these properties and...

Written Answers — Department of Finance: Covid-19 Pandemic (29 Sep 2020)

Paschal Donohoe: As the Deputy noted, total deposits held by households in Irish banks rose to approximately €120 billion in July, marking a continuation of the upward trend in savings seen since the outbreak of the pandemic. This surge in household savings is both voluntary and involuntary. While many households suffered a fall in income in the second quarter of the year, Government schemes such...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (29 Sep 2020)

Paschal Donohoe: The July Stimulus measures are a significant part of our response to the COVID-19 crisis and will help ensure Ireland’s Tourism and Hospitality businesses get back on their feet and as many people as possible can return to work, when it is safe to do so. These measures were in addition to other Government supports already in place. They provide supports for businesses to retain...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that, as of 25 September 2020, there were 36,746 employers registered for the Employment Wage Subsidy Scheme (EWSS) which is considered a strong level of participation so far and, notably, over 82% of the employers availing of the TWSS when it finished at the end of August. As set out in the July Stimulus Package, it is expected that the EWSS will support...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: As outlined to Deputy Murphy in PQ 22738/20 the SURE instrument is intended primarily to support Member States with efforts to protect workers and jobs (such as short-term work schemes), and also support some health-related measures. The European Commission will borrow on financial markets to finance loans to Member States, allowing Member States benefit from the EU’s strong credit...

Written Answers — Department of Finance: Insurance Industry (29 Sep 2020)

Paschal Donohoe: I am in full understanding of the concerns expressed about how the insurance industry is responding to the needs of its business policyholders in these difficult times, including honouring business interruption claims.  While, this is an issue that Minister of State Fleming and I continue to follow closely, it should be noted that neither we, nor the Central Bank can direct or require...

Written Answers — Department of Finance: Tax Code (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that the pre-Budget 2021 Ready Reckoner is published at: On page 24, it shows the estimated additional yield from increasing Betting Duty by a range of amounts, including an increase of 0.5% which is estimated as €23m in a full year.

Written Answers — Department of Finance: Departmental Expenditure (29 Sep 2020)

Paschal Donohoe: The Deputy will be aware that on 15 July 2020, the General Court of the European Union annulled the European Commission's State Aid Decision of 30 August 2016 with respect to Apple.  Ireland has always been clear that, based on Irish law, the correct amount of Irish tax was charged to the company and that Ireland did not provide State aid to Apple. This was the reason that Ireland...

Written Answers — Department of Finance: Unemployment Data (29 Sep 2020)

Paschal Donohoe: My Department’s most recent macroeconomic projections were published in April of this year as part of the Stability Programme Update 2020. The labour market outlook contained within SPU 2020 was that the unemployment rate would peak at approximately 22 per cent in the second quarter of the year, before gradually declining to rates of 13.5 per cent and 10.9 per cent in the third and...

Written Answers — Department of Finance: Wage Subsidy Scheme (29 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 278 to 280, inclusive, together. The Temporary Wage Subsidy Scheme (TWSS) operated from 26 March 2020 to 31 August 2020 and supported over 66,000 employers in respect of almost 664,000 employees that were negatively impacted by the necessary Covid-19 related restrictions, at a cost to the Exchequer of over €2.8 billion. The Employment Wage Subsidy...

Written Answers — Department of Finance: Tax Code (29 Sep 2020)

Paschal Donohoe: I am advised by Revenue that each 1% reduction in the headline rate of CGT is estimated to be €32 million, assuming no behavioural change. Therefore on a straight-line basis the cost of a cut in the CGT rate from its current rate of 33% to 25% is estimated to be €256 million. The Deputy may be interested in the analysis included at link: , which includes information on the...

Written Answers — Department of Finance: National Asset Management Agency (29 Sep 2020)

Paschal Donohoe: On 25th July 2019 the European Commission approved, under EU State aid rules, a limited extension of NAMA to 2025. The extension was sought to allow NAMA to continue to work through a small quantum of residual loans in order to maximise the return from these assets to the State. These loans represent less than 1% of what NAMA originally acquired and will be resolved during the period 2021...